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

GP secures income growth despite fall in revenue amid unrest, floods

Grameenphone's revenue dropped 3.8 per cent year-on-year to Tk 39.5 billion in the third quarter this year due to a sharp fall in data revenue amid July unrest, internet shutdown and unprecedented floods in several regions.GP reported a degrowth of 17.1 per cent year-on-year in data revenue to Tk 11...

Brokers advise against labelling of stocks

Brokers of the Dhaka bourse have demanded the removal of the existing categorisation of securities, saying it creates scope of manipulation in the secondary market.The DSE Brokers Association (DBA) on Monday sent a letter to the Bangladesh Securities and Exchange Commission (BSEC) in this regard.In its letter, the DBA points...

Unilever Consumer Care sees lower profit as demand falls

FE REPORTUnilever Consumer Care endured a 49 per cent year-on-year decline in profit to Tk 159 million in the third quarter through September this year as its sales plummeted. The quarterly income was the lowest in four years. In the nine months through September, the multinational company's profit fell 15.6...

Prime Bank's profit jumps 45pc in Q3

Prime Bank posted a 45 per cent growth in profit after tax to Tk 5.1 billion in the third quarter (Q3) through September. The board of directors of the bank adopted its Q3 un-audited financial statements at a board meeting on Monday, according to a press release.Earnings per share for...

Google among investors putting $110 million into Nigeria's Moniepoint

LAGOS, Oct 29 (Reuters): Nigeria based fintech Moniepoint has raised $110 million in new funding from investors including Google to scale up digital payments and banking solutions across Africa, the company said on Tuesday.Moniepoint started operations in 2015 providing infrastructure and payment solutions for banks and financial institutions but has...

BRAC Bank's profit grows 70pc on higher income from govt securities

BRAC Bank secured an impressive 70 per cent year-on-year growth in profit to Tk 4.2 billion in the third quarter (Q3) this year, driven by substantial income from investment in government securities.Its consolidated earnings per share (EPS) stood at Tk 1.97 for July-September this year, up from Tk 1.22 for...

Robin becomes new chairman of Jamuna Bank

Robin Razon Sakhawat took charge as the chairman of Jamuna Bank on Monday, according to a statement. In 2009, he obtained a bachelor's degree in financial engineering from Goethe University, Frankfurt, Germany. He became the director of Robintex Group, a renowned knitwear manufacturer and exporter through a joint venture with...

Nasir Uddin Ahmed elected as BIA president

Nasir Uddin Ahmed (Pavel), the first vice-president of Bangladesh Insurance Association (BIA), was recently elected as the president of the association after the previous president, Sheikh Kabir Hossain, resigned citing a health reason. Nasir Uddin, who will stay in office until April 8, 2025, as the president was elected unanimously...

Ford shares fall 6pc as supply snags and costs hurt profit forecast

Ford Motor shares fell 6 per cent on Tuesday after the automaker tempered its full-year profit forecast, blaming supplier disruptions and warranty costs amid a global price war fueled by overcapacity, reports Reuters.It expects 2024 adjusted earnings before interest and taxes (EBIT) of about $10 billion, compared with its earlier...

MSCI reports strong Q3 profit amid increased demand for financial products

Index provider MSCI on Tuesday reported a rise in its third-quarter profit helped by robust demand for its products and services, reports Reuters.The Federal Reserve's recent decision to cut the benchmark interest rate for the first time in four years has encouraged investors to increase spending on risk-hedging and research...

BANK ASIA SIGNS AGREEMENT WITH SHEBA.XYZ

BANK ASIA SIGNS AGREEMENT WITH SHEBA.XYZBank Asia signed an agreement with Sheba.xyz on Tuesday. Zishan Ahammad, head of cards at Bank Asia, and Ronald Micky, chief operating officer of Shaeba.xyz, signed the agreement in a ceremony at the cards department of the bank, located in the capital's Sukrabad. The customers...