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

Cricketer Shakib fined Tk 5m for share price manipulation

The securities regulator has imposed penalties on seven individuals and companies, including cricketer Shakib Al Hasan, for their role in manipulating the share price of Paramount Insurance Company. At a meeting on Tuesday, the Bangladesh Securities and Exchange Commission (BSEC) decided to fine them based on an investigation report and...

Stocks extend gaining streak amid policy rate hike

Equity benchmark index extended the winning streak for a second day on Tuesday, with turnover crossing Tk 7.0 billion-mark, driven by price appreciation in particular large-cap issues.Market experts said that stocks managed to stay positive riding on investors' interest in specific large-cap shares although overall market sentiment remained subdued.The market...

Teletalk launches "Gen-Z" packages

State-owned mobile phone operator Teletalk has launched "Gen-Z" packages with data for unlimited period and yearlong bundle offer for the young generation, reports BSS.Inspired by the much highlighted word "Generation Z" during the July's student-people mass uprising, Teletalk branded this package as "Gen-Z" that was unveiled at the conference room...

UCB TO LAUNCH CO-BRANDED CREDIT CARD FOR BUET CLUB MEMBERS

United Commercial Bank (UCB) PLC, a leading private bank, has signed a Memorandum of Understanding (MoU) with BUET Graduates Club Limited to enhance financial experience of club members. Under this agreement, UCB will introduce a co-branded credit card to make financial transactions more convenient for the members of BUET Graduates...

BRAC Bank wins 3 awards from SME Finance Forum

BRAC Bank has recently been honoured with three prestigious awards from the SME Finance Forum of the World Bank Group, including two top accolades in SME product innovation. The awards are Product Innovation of the Year -- Best Commercial Bank in Platinum Award (Global Category), Product Innovation of the Year...

Govt to procure 140k tonnes of fertilizer

The government approved on Tuesday separate proposals for procuring some 140 thousand (1.40 lakh) tonnes of fertilizer from various sources to meet the growing demand of the country, reports BSS.The approvals came from the 5th meeting of the Advisers' Council Committee meeting on Government Purchase with Finance and Commerce Adviser...

WB to help ACC move to recover embezzled assets

The World Bank has offered assistance to the Anti-Corruption Commission, or ACC, in collecting documentary evidence for the recovery of embezzled assets, reports bdnews24.com. This discussion occurred during a meeting aimed at enhancing the institutional capacity of the ACC, particularly in preventing money laundering and recovering misappropriated resources.On Tuesday, Emile...

Adilur seeks Canadian support in technology transfer, investment

Industries Adviser Adilur Rahman Khan sought Canadian support on Tuesday in the areas of technology transfer and investment to develop the country's economy, reports BSS."Bangladesh has a big domestic market and investment and industry-friendly policy, plan and environment. As a result, domestic and foreign investment in Bangladesh is increasing gradually,"...

Grameenphone enhances customer experience with Ericsson's software solution

Grameenphone, the leading digital connectivity provider in Bangladesh, has completed the world's largest deployment of the EM24 software solution from Ericsson. This advanced tool efficiently processes vast amounts of network activity data, significantly improving the precision of customer billing and enhancing the customer experience, says a statement.This cutting-edge system collects,...

Singapore commissions two new submarines as Asia's undersea rivalry grows

SINGAPORE (Reuters): Singapore commissioned two new advanced submarines on Tuesday, vessels its navy says are meant to protect sea lines of communication, and which experts said would range beyond the waters of the tiny city-state to keep tabs on the region.The country's fifth and sixth submarines, the Invincible and the...

Saudi Aramco to raise $3b in two-tranche dollar Islamic bonds

SYDNEY, Sept 24 (Reuters): Saudi Aramco is planning to raise up to $3 billion in five- and 10-year US dollar-denominated sukuk, or Islamic bonds, according to two sources with direct knowledge of the matter and a term sheet reviewed by Reuters on Tuesday.The sources could not be named as the...

JPMorgan bullish on India and Japan, top Asia official says

MUMBAI, Sept 24 (Reuters): JPMorgan, the largest bank in the US, is bullish on India and Japan within Asia but is also keen to allocate resources towards Southeast Asia, which is benefiting from the "China Plus One" strategy, a top official at the bank said."India is still firmly in the...

China stimulus pushes global shares to new peak, boosts commodities

LONDON/SINGAPORE, Sept 24 (Reuters): World stocks hit a record high on Tuesday after China unveiled stimulus measures to support its economy and stock markets, sending Asian and European shares higher and triggering a bounce in commodity prices.People's Bank of China Governor Pan Gongsheng announced plans to lower borrowing costs and...

France's debt woes unnerve EU partners and markets

BRUSSELS, Sept 24 (Reuters): Concerns are growing among France's European Union partners and on financial markets that the fragility of its minority government could weaken efforts to shore up its public finances and so risk undermining the EU's new fiscal rules.France unveiled a new government on Saturday, led by Prime...

JPMorgan unit backs Centivo's $75 million equity and debt raise

Healthcare firm Centivo on Tuesday said it has secured $75 million in equity and debt financing, backed by Cone Health Ventures and the largest US bank JPMorgan Chase's division Morgan Health, reports Reuters.The company did not disclose the valuation at which the latest capital was raised.Centivo offers a primary care-centered...