ICB hides losses by valuing securities at cost with regulatory approval
The state-run Investment Corporation of Bangladesh (ICB) avoids showing actual losses by valuing its investments in securities at cost rather than at current market value.The Bangladesh Bank has issued a 'no objection' to reporting investments at cost price in the financial statements of ICB, the auditor of the investment bank...
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Beximco Pharma a company of general investors run by professionals: CFO Ali Nawaz
Beximco Pharma, one of Bangladesh's leading drugmakers, has long been run by professionals with no board interference in its daily operations. The company is largely owned by general investors, who hold 86 per cent of its shares, while sponsors hold the remaining 14 per cent, said its Chief Financial Officer...
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Prime Bank re-elects Tanjil Chowdhury as chairman
The board of directors of Prime Bank has re-elected Tanjil Chowdhury as chairman of the bank.Mr Chowdhury first assumed the role in 2020 and has since led the organisation through transformation and growth, according to press statement issued by the bank. Under his visionary leadership, the bank has received numerous...
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Investors on watch for AI, economic updates as US stocks steady
NEW YORK, Nov 29 (Reuters): Investors will look in the coming week for signals about profitability for artificial intelligence companies, as well as the broader economy's health, to steady the US equity market.Stocks rebounded this week from their biggest pullback since April, helped by a firming conviction that the US...
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