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

Regulator opens probe into 11 cos' failure to utilise funds

The stock market regulator has launched probes into the utilisation of money that 11 companies raised through initial public offerings (IPO), rights shares and repeat public offering (RPO). The companies are Bangladesh Shipping Corporation, Best Holdings, Index Agro Industries, JMI Hospital Requisite Manufacturing, Lub-reef (Bangladesh), Navana Pharmaceuticals, Ring Shine Textiles,...

APEX TANNERY APPROVES 5PC CASH DIVIDEND

Apex Tannery in its 48th Annual General Meeting on Thursday approved a 5 per cent cash dividend for its shareholders. Syed Nasim Manzur, chairman of the company, presided over the meeting. Participants joined the meeting both virtually and in-person. Md. Hedayetullah, director; Fouzia Haque, independent director; Sajeeb Saha, chief financial...

SOUTHEAST BANK TO cater to GOPALDI NAZRUL ISLAM BABU COLLEGE

Southeast Bank recently signed a memorandum of understanding with Gopaldi Nazrul Islam Babu College to provide services, including tuition fees collection, payroll and school banking. The signing event was held at the bank's head office in the capital. Nuruddin Md. Sadeque Hossain, managing director of the bank, and Mohammad Morad...

BAT decides to invest more to increase production

British American Tobacco Bangladesh Company (BATBC) is going to invest Tk 283.8 million to increase production capacity to meet the growing demand for cigarettes.In a stock exchange filing on Thursday, the tobacco leader said its board approved the capital investment decision at a meeting the day before."The investment will be...

MODHUMOTI BANK INAUGURATES 52ND BRANCH IN NOAKHALI

Modhumoti Bank inaugurated its 52nd branch in Noakhali's Kabirhat on Thursday. Humayun Kabir, chairman of the board of directors of the bank, inaugurated the branch through a virtual platform. Salahuddin Alamgir, chairman of the executive committee of the board; Md. Shafiul Azam, managing director and chief executive officer of the...

Insurers will stake their claim in private credit

NEW YORK, Dec 26 (Reuters Breakingviews): Picture this: a US insurance industry grown fat after a period of explosive growth began extending private loans, buying up debt churned out by wheeling and dealing financiers. That was the year 1905, opens new tab. It might also describe, in more measured form,...

BADC TO IMPORT 1.2M TONNES OF DAP FERTILISER

The Bangladesh Agricultural Development Corporation (BADC) has signed an agreement with Saudi Arabia's state-owned mining company, Ma'aden, to import 600,000 tonnes of Di-ammonium Phosphate (DAP) fertiliser annually. The deal, which will cover the years 2025 and 2026, aims to strengthen reserves of non-urea fertiliser in the country. BADC Chairman Md...

Sheltech offers special deals

Sheltech (Pvt.) Ltd has showcased 50 residential and commercial projects in the ongoing REHAB Fair 2024. The fair, being held at the Bangabandhu International Conference Center (BICC) in Dhaka, concludes today, says a statement. At its stall (Stall No. 2), clients can enjoy exclusive offers on spot bookings, including the...

Sonali Bank launches 'Sonali Corporate iBanking'

Sonali Bank PLC introduced new online services for its corporate clients named 'Sonali Corporate iBanking'. MD & CEO of the bank Md Shawkat Ali Khan inaugurated the services at the head office of the bank on Thursday. From now on, Sonali bank corporate clients can conduct their transactions and access...

Samorita Hospital AGM held

The 39th Annual General Meeting of Samorita Hospital Ltd was held virtually on Thursday. Chairman of the hospital Prof. Riaz Ahmed Chowdhury presided over the meeting. The AGM approved the Directors' Report, Audited Financial Statements for the year ended on 30th June, 2024, and 5% cash dividend. Vice Chairman Mojibul...

Indian economy to grow at around 6.5pc in FY25

NEW DELHI, Dec 26 (Reuters): India's economy is expected to grow at around 6.5 per cent in fiscal year 2024/25, closer to the lower end of its 6.5 per cent-7 per cent projection, as global uncertainties pose a dampening threat, the government said on Thursday.The growth outlook for October to...

Egypt pays off $38.7b in debts

RIYADH, Dec 26 (Arab News): Egypt has successfully repaid $38.7 billion in debts during 2024, including $7 billion in November and December, demonstrating its commitment to meeting financial obligations despite significant economic challenges. The announcement was made by Egyptian Prime Minister Mostafa Madbouly during a Cabinet meeting, where he emphasized...

S Arabia's logistics centres surge 267pc amid Vision 2030 push

RIYADH, Dec 26 (Arab News): Saudi Arabia's logistics sector has seen notable growth, with the number of facilities increasing by 267 per cent since 2021, according to a report by the General Authority for Statistics. In 2023, the Kingdom had 22 hubs spanning over 34 million sq. meters, underscoring the...

Nippon Steel extends closing date for US Steel acquisition

TOKYO, Dec 26 (Reuters): Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of US Steel, expressing confidence that the acquisition will protect and grow the American company.The estimated closing date was revised to the first quarter of 2025 from the third...