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

Berger's profit grows 21pc in Q2, buoyed by higher revenue

Berger Paints secured a 21 per cent year-on-year growth in profit to Tk 566 million in the second quarter (Q2) through September this year, driven by higher sales.The consolidated earnings per share (EPS) of the multinational company, which follows the April-March financial year, was Tk 12.20 for the second quarter...

RAK Ceramics into the red for gas supply shortage

RAK Ceramics reported a loss for the third quarter through September this year as sales and production decreased amid the political upheaval and gas supply shortage.Its loss per share was Tk 0.35 in July-September this year, whereas it earned a profit of Tk 0.29 per share a year ago.In the...

Market-driven share price valuation suggested for quality listing

Top merchant bankers and portfolio managers have urged the securities regulator to amend the IPO (initial public offering) valuation process to encourage listing of good companies.Companies with strong fundamentals usually go public, using the book building method to set the value of primary shares.The securities regulator currently considers a company's...

BRAC Bank for inclusion of people with disability

DHAKA, Oct 24: BRAC Bank recently partnered with the Bangladesh Business and Disability Network (BBDN) to create opportunities for persons with disabilities through 'Aporajeyo Ami', the bank's flagship corporate social responsibility initiative dedicated to health.The agreement enables BRAC Bank to become a premier member of BBDN, joining its advisory council,...

PUBALI BANK RECOGNISED AS 'BEST FINANCIAL INSTITUTION'

Pubali Bank has been recognised as the Best Financial Institution at the 22nd DHL-The Daily Star Bangladesh Business Awards. The bank recently celebrated the achievement through a ceremony led by Monzurur Rahman, the chairman of the bank's board of directors. The prestigious honour was awarded to the bank in recognition...

Dubai and Abu Dhabi race to lure world's wealth managers

DUBAI, Oct 24 (Reuters): Abu Dhabi is emerging from Dubai's shadow as it attracts its own share of asset managers' and billionaires wealth, helping cement United Arab Emirates' role as an alternative to global financial hubs.Lacking rich oil reserves, Dubai has built up over the past two decades its position...

Tesla allays investor fears with crucial EV growth forecast, shares jump

SAN FRANCISCO, Oct 24 (Reuters): Tesla's stock jumped nearly 12 per cent before the bell on Thursday, a day after it forecast surging car sales growth, reassuring investors that CEO Elon Musk was still looking to expand the core business of selling electric vehicles.The world's the most valuable automaker was...

Power Division seeks tax exemption for solar sector investors

The Power Division seeks the reinstatement of tax exemption benefits for private investors in the renewable energy sector, particularly those investing in solar power projects, reports UNB.According to official sources, the Power Division has formally urged the National Board of Revenue (NBR) to restore the tax exemptions for the power...

IDLC Asset Management Shariah Fund meeting held

The 20th Shariah Supervisory Board Meeting of IDLC Asset Management Shariah Fund, managed by IDLC Asset Management Limited, was held recently, with Dr. Syed Muhammed Emdad Uddin in the Chair. Board members Maulana Sayed Kamaluddin Abdullah Zafree, Dr. M Mahabbat Hossain, Prof. Mamtaz Uddin Ahmed, Dr. Muhammad Manzur-E-Elahi and Mufti...

Shahjalal Islami Bank holds 884th EC meeting

The 884th meeting of the Executive Committee (EC) of Shahjalal Islami Bank PLC (SJIB PLC) was held at the Corporate Head Office of the bank on Wednesday. The meeting was presided over by Akkas Uddin Mollah, the Chairman of Executive Committee (EC) of the bank. The members of the committee...

Takaful Islami Ins meeting held

The 3rd meeting of the Risk Management Committee of Takaful Islami Insurance Limited was held at Dhanmondi in Dhaka recently. Chairman of the Risk Management Committee Md Humayun Kabir Patwary presided over the meeting attended by Tahmina Afroz, Md Abul Hashem, Emdadul Haque Chowdhury, Azizul Hossain and Chief Executive Officer...

PURO PASTRY OPENS 14TH OUTLET

The 14th outlet of Puro Pastry & Bakery was inaugurated at Waz Uddin Tower at Hatirpool in Dhaka on Thursday. Vice Chairman of Eon Group of Industries Major ABA Mesbah Ud Dowlah (Rtd.) was present as the chief guest at the inaugural ceremony. Director of Puro Foods Md Abdul Baten...

Unilever and Danone win back shoppers as price hikes slow

LONDON/PARIS, Oct 24 (Reuters): Consumer goods groups Unilever and Danone beat third-quarter sales estimates on Thursday as they slowed price hikes and invested in innovations to win back shoppers who had turned to cheaper brands during a surge in inflation.The cost of everything from freight to raw materials rose during...

US fines Apple and Goldman Sachs over Apple Card

NEW YORK, Oct 24( AFP): The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone-maker's credit card.Customer service breakdowns and misrepresentations affected hundreds of thousands of users of Apple Card, launched in a collaboration with the US...

Palm oil surges on lower stockpiles

KUALA LUMPUR, Oct 24 (Reuters): Malaysian palm oil jumped more than 2% on Thursday, supported by expectations of palm production declines and lower national stockpiles.The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 116 ringgit, or 2.59%, to 4,602 ringgit a metric ton at...