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

Exchanges left dysfunctional without independent directors

The removal of independent directors from the boards of both the exchanges has been impeding regular operations and made it nearly impossible to form new boards in line with the stipulated rules.The independent directors of both the Dhaka and Chittagong stock exchanges resigned in the last two days on instructions...

Multi Securities & Services penalised for non-cooperation with inquiry team

The stock market watchdog has taken punitive actions against controversial brokerage house Multi Securities & Services after it barred an inquiry team from entering its premises.The inquiry committee of the Bangladesh Securities and Exchange Commission (BSECB) went for a spot visit to the office of Multi Securities and Services Limited...

As Democrats gather, investors gauge market impact from a Harris administration

NEW YORK, Aug 22 (Reuters): Investors are grappling with the market implications of a possible Kamala Harris presidential administration, which could pressure corporate profits through higher taxes while weighing on consumer staples and boosting solar energy.Harris' nomination is in focus this week at the Democratic convention after her late entry...

BRAC BANK SIGNS MOU TO SUPPORT BRAC KUMON FRANCHISEES

BRAC Bank on Thursday signed a Memorandum of Understanding (MoU) with BRAC Kumon to provide essential financing support for BRAC Kumon franchisees. Deputy Managing Director and Head of SME Banking of BRAC Bank, Syed Abdul Momen, and Chief Business Officer of BRAC Kumon, Nehal Hasan, signed the MoU on behalf...

SHAHJALAL ISLAMI BANK HOLDS 383RD BOARD MEETING

The 383rd meeting of the Board of Directors of Shahjalal Islami Bank PLC was held on Thursday at the bank's Corporate Head Office. The meeting was presided over by the Chairman Mr A. K. Azad. The board approved a number of investment proposals. The board's Vice-Chairman Mr Mohammed Younus, the...

US capital hikes and other Wall Street bank rules now hinge on US election

WASHINGTON, Aug 22 (Reuters): US regulators will not be able to finalize contentious bank capital hikes before the November presidential election, casting doubt over whether those and other stiff draft rules for Wall Street banks will be completed at all, said five people familiar with the matter.The so-called Basel III...

DHAKA REGENCY SIGNED MOU WITH PRABASHIR HELICOPTER

Dhaka Regency Hotel & Resort signed a Memorandum of Understanding (MoU) with Prabashir Helicopter, a leading helicopter service provider, at the latter's head office on Monday. Md. Mahmud Hassan, Director- Sales & Marketing of the hotel, and Byjed Al-Hassan, Managing Director of Prabashir Helicopter, signed the agreement. Under the agreement...

LafargeHolcim holds seminar with BPSEA

LafargeHolcim Bangla-desh Limited (LHBL) has recently organised a seminar titled "Determination & Challenges of Pile Capacity in Liquefiable Soil" in association with Bangladesh Professional Structural Engineer Association (BPSEA) at the Bangladesh University of Engineering and Technology's (BUET) Graduates Club at Banani in Dhaka. Renowned structural engineers of the country participated...

Fed’s Schmid signals open mind on Sept rate cut

WASHINGTON, Aug 22 (Reuters): Kansas City Fed Bank President Jeff Schmid, one of the U.S. central bank's more hawkish policymakers, said on Thursday he was taking a closer look at the dynamics behind the rise in the unemployment rate and would let data guide him on whether to support a...

Microsoft tweaks how it logs cloud revenue

SAN FRANCISCO, Aug 22 (AFP): Microsoft on Wednesday lowered its cloud computing unit revenue forecast in a bookkeeping move, shifting money to its "productivity" software business.The accounting change comes as investors are wary about whether the billions Microsoft and tech rivals are spending on artificial intelligence will help or hurt...

US auto safety regulator closes probe into GM's Cruise robotaxis

NEW YORK, Aug 22 (Reuters): The National Highway Traffic Safety Administration said it was closing its preliminary investigation into the hard braking and immobilization issues in 1,194 autonomous ride-hailing vehicles operated by General Motors' Cruise unit.The NHTSA said on Thursday it was closing the evaluation, started in December 2022, after...

Saudi finance cos’ credit facilities increase 12pc

RIYADH, Aug 22 (Arab News): Credit facilities provided by Saudi finance companies saw 12 per cent annual rise in the first quarter of 2024, to reach SR88.6 billion ($23.62 billion), official data has revealed.Figures released by the Saudi Central Bank, also known as SAMA, showed that personal finance accounted for...

Ping An Ins posts 6.8pc rise in Q1 profit

BEIJING/SHANGHAI, Aug 22 (Reuters): Ping An Insurance (Group) Co of China reported a 6.8 per cent rise in first-half net profit, driven by growth in new insurance policies and its move to secure long-term investments amid market volatility.The Chinese insurance giant posted net profit of 74.62 billion yuan ($10.46 billion)...

China, Belarus to sign trade agreement

MOSCOW, Aug 22 (AFP): Belarus, which has been hit by Western sanctions over its support for Russia's offensive in Ukraine, said Thursday it will sign a free trade deal with China for services and investment.China's Prime Minister Li Qiang was in Belarus to meet President Alexander Lukashenko, following a visit...

Malaysia shines as foreign investors return, peers stumble

SINGAPORE, Aug 22 (Reuters): Malaysia is fast becoming a haven in Southeast Asia and foreign investors are returning to a long-overlooked market as a confluence of improving growth, stable government and rising currency sets it apart among peers grappling with political flux.Foreigners have steadily poured more money into Malaysian debt...