Finance News: Latest Financial News, Finance News today in Bangladesh

High-level committee devises plan to revive market

The newly-formed high-level committee to strengthen the securities regulator and help the capital market flourish has started working by identifying challenges and potential development methods.It held its first meeting on Thursday and devised a work plan to prepare policy recommendations for reviving the struggling stock market."We have discussed terms and...

Paramount Insurance's profit grows 29pc in 2024

Paramount Insurance secured a 29 per cent year-on-year growth in profit to Tk 90.7 million in 2024, supported by higher premium income amid a challenging business climate.Subsequently, the insurer's earnings per share (EPS) rose to Tk 2.23 for 2024 from Tk 1.73 the year before, according to a regulatory filing...

In the Market: How Trump is driving Asia to diversify away from US

President Donald Trump's tariffs and other policies have some financiers and officials in Asia predicting the remaking of the post-World War II economic order, leading to an urgent quest to diversify away from America. But it's not proving to be easy, reports Reuters.The period after World War II saw a...

Remittance recipients to get gifts from BRAC Bank, Western Union

BRAC Bank, in collaboration with Western Union, has been rewarding remittance recipients this Ramadan with an exclusive water bottle, according to a press release. Customers collecting remittances through Western Union from BRAC Bank's extensive network, which includes 189 branches, 74 sub-branches, and 1,114 agent banking outlets nationwide, will receive this...

Moody's affirms City Bank's B2 rating for 2024

Moody's Investors Service has published its latest credit opinion on City Bank, recognizing its moderate profitability and capital amid rising asset risks, according to a press release.City Bank has retained its B2 issuer rating, with an updated negative outlook that aligns with the recent B2 negative rating given to Bangladesh....

Chinese solar panel giant Longi to invest in BD

Longi, the largest solar panel manufacturer in the world, has decided to set up an office and invest in solar panel manufacturing in Bangladesh, Chinese Ambassador to Bangladesh Yao Wen said on Thursday, reports BSS.The ambassador said several top Chinese solar panel manufacturers visited Bangladesh in December to explore opportunities...

Janata Bank holds Branch Managers' Confce --

Janata Bank PLC's Divisional Branch Managers' Conference in Dhaka South was held at a convention hall on Thursday. Chairman of the bank M Fazlur Rahman was present as the chief guest while Managing Director Md Mazibur Rahman and Deputy Managing Director Md Fayaz Alam and CFO Md Nurul Alam attended...

Standard Bank holds its 147th EC meeting

The 147th meeting of the Executive Committee (EC) of the Board of Directors of Standard Bank PLC was held at its head office in the city on Thursday. Chairman of the committee Md Zahedul Hoque presided over the meeting. The meeting was attended by member of the committee and Chairman...

Egypt, India reaffirm $12b trade target during ministerial meeting

RIYADH, Mar 20 (Arab News): Egypt and India have reaffirmed their commitment to tripling bilateral trade from $4.2 billion in 2024 to $12 billion within five years, reinforcing a target set last year during a joint meeting. The pledge came during a trip to India by Egypt's Minister of Investment...

Trump's 200pc tariff threat would be 'a real disaster' for Europe's wine industry

CHAMPAGNE (France), Mar 20 (AP): US President Donald Trump has threatened to hit the EU with 200 per cent tariffs on alcoholic drinks, including wine, cognac and champagne, if the bloc does not pull back from imposing levies on US whiskey. Stocks fell on the news, as investors worried that...

ECB's Lagarde warns US-EU trade war may hit growth

FRANKFURT, Mar 20 (AFP): European Central Bank chief Christine Lagarde warned Thursday a trade war between the United States and Europe could shave half a per centage point off eurozone growth and push up inflation.US President Donald Trump is threatening to levy duties of 25 per cent on all goods...

Abu Dhabi signs deal with Microsoft, Core42 to build sovereign cloud system

RIYADH, Mar 20 (Arab News): Abu Dhabi has signed a multi-year deal with Microsoft and Core42 to build a sovereign cloud system, supporting its push to become the world's first AI-powered government. The deal - inked by the Department of Government Enablement, Microsoft, and Core42, a subsidiary of G42 -...

SNB cuts rates again over global economic 'uncertainty'

ZURICH, Mar 20 (AFP): Switzerland's central bank cut its key interest rate by a quarter per centage point to 0.25 per cent on Thursday, citing "high uncertainty" in the global economy.The Swiss National Bank made its fifth cut since March last year, saying it anticipated the global economic growth would...

Brazil central bank raises interest rate to 9-year high

BRASÍLIA, Mar 19 (AFP): Brazil's central bank on Wednesday hiked its key interest rate one point to 14.25 per cent, a nine-year high, as it seeks to contain inflation in Latin America's largest economy.It was the fifth consecutive increase, and counter to leftist President Luiz Inacio Lula da Silva's calls...

Meta to launch generative AI assistant in the EU

PARIS, Mar 20 (AFP): Facebook and Instagram parent company Meta said Thursday it would launch its generative artificial intelligence assistant Meta AI in the European Union from "this week", more than a year after the service's US release."It's taken longer than we would have liked to get our AI technology...