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

Eastern Housing hit hard by Rajuk's IT breakdown

Real estate company Eastern Housing Ltd fears an increase in the cost of doing business for a wholly unexpected reason - the breakdown of the design approval mechanism of Dhaka's urban development authority.It sought approval of the design of a project on a land of 31.3 decimals at Aftab Nagar...

Premier Bank reports Q2 loss on weakened core business

Premier Bank reported a loss of Tk 1.64 billion for the April-June quarter this year mainly due to higher interest expenses, while it had a profit of Tk 1.16 billion in the same period last year. The loss could have been bigger, as the bank did not mention any provision...

DSE grants FIX certification to 13 more brokerage houses

The Dhaka Stock Exchange (DSE) has awarded FIX (financial information exchange) certification to 13 more brokerage houses under its initiative to introduce in-house order management systems (OMS) through API connectivity.The certification ceremony was held on Thursday at the DSE Training Academy, where DSE Chairman Mominul Islam formally handed over the...

Chinese co to invest $10.81m to produce LED, packing materials

Senxin BD Company Limited, a Chinese company, will invest $10.81 million to set up a manufacturing unit for various LED bulbs and packaging materials in the Mongla Export Processing Zone (Mongla EPZ), reports BSS.In this connection, an agreement was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and Senxin...

Govt shuts three land ports, suspends operations of another one

The interim government announced on Thursday the complete closure of three land ports and suspension of operational activities of another along the Bangladesh-India border in an effort to save taxpayers' money and ease burden on government's expenditure, reports UNB.The approval came in principle at the meeting of the Council of...

MODHUMOTI BANK FINANCES SOLAR POWER PROJECTS

Modhumoti Bank, as part of its commitment to sustainability, signed a deal to finance three net-metering rooftop solar projects for Younus Group's Wadud & Aysha Cold Store Limited, Srinagar Cold Storage Limited and Siddeshawari Cold Storage Limited. Md. Shafiul Azam, managing director & chief executive officer of Modhumoti Bank, and...

EBL PARTNERS WITH SHANTA LIFE INSURANCE TO EXPAND BANCASSURANCE

Eastern Bank partnered with Shanta Life Insurance to introduce innovative insurance solutions through its banking network. EBL DMD, Head of Retail and SME Banking and Chief Bancassurance Officer M. Khorshed Anowar and Shanta Life Insurance DMD and Chief Distribution Officer M. Khurshed Kaisar signed a memorandum of understanding to this...

BRAC BANK, BTI INK DEAL TO OFFER HOME LOAN PRIVILEGES

BRAC Bank entered into a partnership with building technology & ideas ltd. (bti), a leading real estate developer in Bangladesh, to provide exclusive home loan privileges to its valued customers. BRAC Bank's customers will enjoy up to Tk 2.5 million in free interior support in selected bti projects under this...

Pragati Ins signs deal with BRAC Bank

Pragati Insurance Limited has recently signed an agreement with BRAC Bank PLC for providing exclusive agent banking outlet insurance. Syed Sehab Ullah Al-Manjur, ACII (UK), Managing Director and CEO, Sharif Mustaba, Deputy Managing Director, and Amar Krishna Shil, Chief Financial Officer (CFO) of Pragati Insurance Limited, and BRAC Bank Managing...

Exim Bank holds 26th AGM

The 26th Annual General Meeting (AGM) of Export Import Bank of Bangladesh PLC was held on a virtual platform from the head office of the bank on Thursday. Chairman of the bank Md Nazrul Islam Swapan presided over the meeting. The meeting approved financial statements for the year ended December...

Meghna Life Ins approves 15pc cash dividend

The 29th Annual General Meeting (AGM) of Meghna Life Insurance PLC was held on a virtual platform on Thursday. The meeting unanimously approved a 15 per cent cash dividend for the ordinary shareholders. Chairman of the company Nizam Uddin Ahmed presided over the meeting. The meeting was chaired by Chairman...

Bay Leasing holds 29th AGM

The 29th Annual General Meeting (AGM) of Bay Leasing & Investment Limited was held using a hybrid system as a physical presence at the Institution of Engineers Bangladesh (IEB) Conference Room in the city on Thursday. Suraiya Begum, Chairperson of the company, presided over the meeting. Managing Director (CC) of...

BGMEA's standing committee holds meeting

The first meeting of the BGMEA standing committee on sweater affairs was held at the BGMEA conference room in Chattogram recently, reports BSS.Chairman of the BGMEA standing committee on sweater affairs Faizul Matin presided over the meeting. BGMEA Vice President and Director-in-Charge of the standing committee on sweater affairs Mohammad...

From vultures to defenders, Japan private equity deals head for record year

TOKYO, Aug 28 (Reuters): Take-private deals in Japan are likely to hit a record high this year, exceeding the $40.3 billion total racked up in 2023, according to private equity funds and advisers, as companies bow to pressure to improve returns for investors.Japanese companies once feared private equity as "hagetaka",...

Indian firms tap bond market for acquisitions on mutual fund demand

MUMBAI, Aug 28 (Reuters): Indian firms are increasingly tapping the bond market to fund acquisitions, with at least three planning to raise over $2 billion in the next 4-6 months, as mutual funds drive demand, according to merchant bankers and investors. Mutual funds, flush with capital, are actively participating in...