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

Square Pharma posts record profit, declares 110pc cash dividend

Square Pharmaceuticals, the largest drug maker in the country, posted a record profit of Tk 20.92 billion for FY'24, driven by record sales.Based on the record consolidated net profit, the company also declared the highest ever cash dividend -- 110 per cent -- for the same fiscal year.Year on year,...

MTB aspires to double retail, SME financing

The Mutual Trust Bank (MTB) plans to double its financing in retail and small and medium enterprises (SMEs) to distribute risks by diversifying portfolios in the next three to five years, the bank's top executive says.The investment will reach 40 per cent of its total loans and advances during the...

Stocks back in red as policy rate hike weighs on investor sentiment

Stocks slipped into the red on Wednesday, snapping a two-day gaining streak, as investors' enthusiasm was dampened by the latest policy rate hike and ongoing turmoil over demand for the president's resignation.Market operators noted that investor sentiment was impacted by potential interest rate hikes after the central bank raised the...

SBAC Bank's Q3 profit grows 156pc on higher investment income

SBAC Bank PLC achieved a remarkable 156 per cent profit growth year-on-year in the third quarter (Q3) of this year, riding on higher investment income from shares and government securities.The lender reported a profit of Tk 400 million for the July-September quarter, according to a stock exchange filing on Wednesday....

Foreign aid disbursements drop 34pc in Q1

Bangladesh received foreign aid worth $846.12 million in the first quarter (Q1) of the current fiscal year (FY 2024-25).The amount is around 34% lower than $1.28 billion received in the July-September quarter of the last FY, according to the latest figures of the Economic Relations Division (ERD).During the period under...

BRAC Bank Reading Cafés explore strong women in two key Bangla literary works

BRAC Bank Reading Café of Chattogram has engaged in an analytical discussion of Harishankar Jaladas' book Astadoshi, while the Chuadanga chapter read Abu Ishaque's masterpiece Surja Dighal Bari, says a press release. Both books portrayed the character of indomitable women in Bangladesh society. In Chattogram, the discussants chose the key...

InterContinental Dhaka GM recognised as Asia's Best General Manager

Recently,Ashwani Nayar (Area General Manager, IHG, South West Asia and General Manager, InterContinental Dhaka) has been recognized as Asia's Best General Manager by CMO Asia and World Federation of Hospitality Professionals for his immense contribution in the Hospitality and Tourism industry, says a press release.Ashwani is a senior international hotelier...

Mir Mofazzul Hossain joins Ansar-VDP Unnayan Bank as MD

Mir Mofazzul Hossain has recently joined Ansar-VDP Unnayan Bank as Managing Director.He has been promoted and appointed as the Managing Director of Ansar-VDP Unnayan Bank in a notification issued by the Department of Financial Institutions, State-Owned Commercial Bank Section-01.Prior to his promotion, he served as Deputy Managing Director at Sonali...

MODHUMOTI BANK SIGNS MOU WITH KOPOTAKKHO HOMES

Modhumoti Bank PLC recently signed an MoU with Kopotakkho Homes Limited at the bank's Head Office at Gulshan in Dhaka. Kamrul Hasan Khan, DMD & Chief Business Officer of the bank, and Sushanta Kumer Bhomick, Managing Director of Kopotakkho Homes, signed the agreement in presence of Md Shafiul Azam, Managing...

SEMINAR ON FINANCIAL LITERACY FOR WOMEN ENTREPRENEURS

Shahjalal Islami Bank PLC organised a seminar on 'Financial Literacy for Development of CMSME Women Entrepreneurs' at its Elephant Road Branch office in Dhaka on Tuesday. This initiative was part of the bank's ongoing efforts to empower women entrepreneurs and foster a job-oriented, industry-based economy. Deputy Managing Director of the...

SHIPPERS' COUNCIL HOLDS BOARD METING -

The 4th meeting of the Board of Directors of Shippers' Council of Bangladesh (SCB) for the term 2024-25 was held at its office at Dhanmondi in Dhaka, with its Chairman Md. Rezaul Karim in the chair. The meeting approved the minutes of the previous meeting & financial statement and also...

Rich nations must pay more to tackle climate change, G24 says

WASHINGTON, Oct 23 (AFP): Richer countries must put more money on the table to support the world's developing and emerging market economies tackle climate and development challenges, or risk undoing recent progress, the G24 group of nations said Tuesday."The global community is falling short of attaining climate and development goals,...

UN eyes modest 2024 maritime trade growth, but future uncertain

GENEVA, Oct 23 (AFP): Maritime trade should show modest growth this year, the UN said Tuesday, warning though that the geopolitical tensions, climate impacts and conflicts shaking global trade are threatening the functioning of maritime supply chains.The United Nations' trade and development agency, UNCTAD, highlighted in its annual report on...

World stocks mixed as rate cut bets trimmed, US vote in focus

HONG KONG, Oct 23 (AFP): Equities diverged Wednesday after another unremarkable day on Wall Street, where rising bond yields and comments from Federal Reserve officials dampened expectations for US interest rate cuts.A global rally that has seen several markets hit multiple records -- particularly in New York -- appears to...

China think tank proposes $280b stock market stabilisation fund

SHANGHAI, Oct 23 (Reuters): A Chinese policy think tank has called for Beijing to issue 2 trillion yuan ($280 billion) of special treasury bonds to set up a stock market stabilisation fund, the 21st Century Business Herald reported on Wednesday.Such a fund could steady the market through buying and selling...