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

Olympic Industries declares low dividend despite profit growth

Olympic Industries secured an 18 per cent growth in profit to Tk 1.83 billion in FY24 over the previous year, riding on higher sales and efficient cost management.Despite the profit growth, the board of directors recommended a 10 per cent cash dividend for FY24, whereas the company paid a record...

LankaBangla Finance's income gets a 605pc boost from high interest rates

LankaBangla Finance posted an impressive 605 per cent year-on-year growth in profit to Tk 261 million in the third quarter (Q3) this year, riding on higher net interest income and investment income.The non-bank financial institution's consolidated earnings per share (EPS) was Tk 0.46 for July-September this year, up from Tk...

SARCO, BIAC on strengthening partnerships to resolve disputes

SAARC Arbitration Council (SARCO), in collaboration with Bangladesh International Arbitration Centre (BIAC), held a seminar recently on strengthening partnerships and navigating disputes at the InterContinental Dhaka.The programme was titled "Elevating Bangladesh's Trade and Commerce: ADR's Role in Navigating Disputes and Strengthening SAARC Partnerships", says a press release.The seminar featured an...

Runner makes a comeback from rock bottom

Motorcycle manufacturer Runner Automobiles secured a huge recovery in FY24 from last year's heavy loss as the sales of three wheelers picked up.It is, however, still in the red.Runner made a loss of Tk 61 million in the year through June this year, down from a loss of Tk 880...

SOUTHEAST BANK WORKS ON CAPACITY DEV WITH BB

Southeast Bank conducted a day-long capacity development programme on sustainable finance on Sunday at the bank's training institute in collaboration with the Bangladesh Bank (BB). Divisional heads, executives, and officials from relevant head office divisions, along with all branch heads, participated in the programme. The event was inaugurated by Nuruddin...

MTB SIGNS DEAL WITH WEGRO, SYNGENTA

Mutual Trust Bank (MTB) signed a tripartite agreement with WeGro and Syngenta to scale up lending to marginal farmers. Farmers will be allowed to borrow through the bank's mobile app to procure inputs from designated outlets of Syngenta for farming. This arrangement has been aimed at ensuring smooth funding support...

PUBALI BANK HOLDS PLANTATION EVENT

Pubali Bank recently organised a tree plantation programme at Dhaka University (DU) as part of its corporate social responsibility. Professor Dr. Niaz Ahmed Khan, vice-chancellor of DU, was present as the chief guest. Mohammad Ali, managing director of the bank, was present as the special guest. Speakers in the discussion...

UBS Global Wealth Management lifts global equities stance to 'attractive'

UBS Global Wealth Management has raised its stance on global equities to "attractive" from "neutral", citing resilient US economic growth, monetary policy easing by major central banks and an artificial intelligence (AI) boom, reports Reuters."Economic growth is remarkably resilient and central banks have been proactive, giving us confidence the supportive...

Europe's return to zero rates?

LONDON, Oct 27 (Reuters): If markets are correct, inflation-adjusted European Central Bank interest rates could be back negative by the middle of next year - and a return to zero policy rates cannot now be dismissed.The sands under ECB easing expectations appear to have shifted again after last week's third...

Saudi Aramco's Wa'ed Ventures earmarks $100m for AI investments

RIYADH, Oct 27 (Arab News): Saudi Arabia's $500 million venture capital fund, Wa'ed Ventures, a wholly-owned subsidiary of Aramco, has earmarked $100 million to invest in artificial intelligence startups. The initiative aligns with the Kingdom's ambition to position itself as a global AI hub and drive economic growth through technology-driven...

China's market rollercoaster claims another fund

SHANGHAI/SINGAPORE, Oct 27 (Reuters): Shanghai Power Asset Management Co has apologised to investors and shut its arbitrage strategy after heavy losses, the latest China hedge fund bruised by wild gyrations in the market since authorities vowed to support the economy and hit growth targets.Power Asset, which trades options to bet...