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

Regulator frees all but Beximco, Islami Bank of price restrictions

The securities regulator on Wednesday removed all price restrictions from all but two stocks -- Beximco and Islami Bank Bangladesh.It changed the lower circuit breaker back to 10 per cent from 3 per cent, allowing correction of all stocks up to 10 per cent a day, except for the two...

Sonali Paper's Covid-resilient business strategy boomerangs

The loss of Sonali Paper & Board Mills escalated by 4.8 times year-on-year to Tk 118 million in January-March this year, thanks to unrealised losses from stock market investments.As a result, the company reported a loss of Tk 3.6 per share for the third quarter through March this year, up...

Hami Industries' status will not change despite dividend payout

An ill attempt by Hami Industries to upgrade its status by disbursing nominal dividends has been foiled. The statutory auditor found that the interim dividends declared and disbursed by Hami Industries were not supported by quarterly profits. The company experienced losses of Tk 3.79 million-Tk 8.22 million in the last...

Southeast Bank's donation for flood victims

Southeast Bank donated Tk 20 million to the 'Chief Adviser's Relief and Welfare Fund' for relief and rehabilitation of flood victims. Also, from the bank's CSR fund, various food items worth Tk 10 million were distributed to the flood victims at 10 districts of Feni, Cumilla, Noakhali, Lakshmipur, Brahmanbaria, Chattogram,...

NCC BANK DONATES TK 20M TO CHIEF ADVISER'S RELIEF FUND

National Credit and Commerce (NCC) Bank on Wednesday donated Tk 20 million to the chief adviser's relief fund for the flood-affected people of Bangladesh as a part of its Corporate Social Responsibility. Md. Monirul Alam, a deputy managing director, and Md. Anwar Hossain, the head of public relations of NCC...

PUBALI BANK HOLDS BUSINESS CONFERENCE-2024 OF BOGURA REGION

Pubali Bank 2nd Business Conference-2024 of operation managers', sub-branch managers', and islamic banking window managers' of Bogura region was held recently. Mohammad Ali, managing director and chief executive officer of the bank, was present as the chief guest at the conference. Mohammad Abdul Mannan, general manager and division head of...

Billionaire investor Buffett offloads Bank of America shares worth $982m in latest sale

Billionaire Warren Buffett's Berkshire Hathaway has sold some more shares of Bank of America over the past few days, raking in $981.9 million, as the conglomerate continues to trim down its stake in the second-largest US lender, reports Reuters.Berkshire has now shed about $5.4 billion worth of Bank of America...

Chinese co to invest $5.36m in BEPZA EZ

DC Industry (Bangla-desh), a Chinese company, will invest US$ 5.36 million to set up a "Bag & Wallet" manufacturing plant in BEPZA Economic Zone (BEPZA EZ) at Mirsharai, Chattogram, reports BSS.This foreign-owned company will produce 2.5 million pcs of handbags, 1.5 million pcs of backpacks and one million pcs of...

PHP family stands by flood victims

Housewife Taslima Akhter is a resident at the house of Nurul Haque Majhi under Gopal Union of Feni's Chhagalnaiya Upazila. Water started entering the home on August 22.Within a few hours, the water rose above four feet. Taslima took her two baby daughters and quickly left her home. The situation...

Silicon Valley wish-list for Harris-abortion rights, pro-tech policies

SAN FRANCISCO, Aug 28 (Reuters): Venture capitalists pledging support for Kamala Harris' White House campaign listed priorities in a survey released on Wednesday that include women's reproductive rights, climate change and a friendlier stance toward startups.Of about 800 venture capitalists who signed an open letter of support, 225 chose to...

NRBC Bank provides relief assistance to 10,000 flood-HIT families

NRBC Bank has provided relief assistance to 10,000 flood-affected families in Feni, Lakshmipur, Comilla, and Noakhali. Mineral Water, medicine, dry food, candles, gas lighters, and cash have been provided as assistance. On behalf of NRBC Bank, Director and Chairman of Risk Management Committee AKM Mostafizur Rahman, Director Loquit Ullah, DMD...

Syngenta donates rice seeds to flood-affected farmers

In response to the current devastating floods impacting the agricultural community, Syngenta Bangladesh has donated rice seeds to support affected farmers in collaboration with the Department of Agricultural Extension (DAE) on Wednesday. Syngenta officials formally handed over the seeds to the Director General of DAE. This donation aims at enhancing...

UK’s Islamic banking assets surge 26pc to $8.2b in 2023

RIYADH, Aug 28 (Arab News): Islamic banks in the UK saw their assets surge 26 percent in 2023 to $8.2 billion, reinforcing the country’s position as a key Western hub for Shariah-compliant banking. Fitch Ratings, in its latest report, expects the UK’s Islamic finance industry to grow to $15 billion...

US 30-year mortgage rate falls

WASHINGTON, Aug 28 (Reuters): The interest rate for the most popular US home loan slid to its lowest in 16 months, after Federal Reserve Chair Jerome Powell signaled the central bank was ready to lower borrowing costs next month to keep the job market from weakening further.The average contract rate...

Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh

MUMBAI, Aug 28 (Reuters): Talks to sell majority stakes in two Indian banks have attracted interest from foreign peers in Japan and the Middle East betting on a fast-growing economy, but tighter regulations and valuation concerns could curb their appetite, analysts and sources say.The rare opportunity for foreign banks to...