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

Olympic Industries' investment spree on to boost business

Olympic Industries is in an enviable position when it comes to cash reserves - Tk 10 billion as of March this year - and it has been leveraging that to strengthen its market position even further. In its sustained drive to accelerate business growth, it has recently decided to purchase...

Summit Power's profit plunges 44pc in Q3

Power producer Summit Power reported a 44 per cent plunge in profit for the third quarter of FY25, as its three plants, which started operating under 'No Electricity, No Payment' arrangement, received no capacity charge during the period.Hence, the earnings per share (EPS) fell sharply to Tk 0.39 in the...

Shahjalal Islami Bank promotes Imtiaz U. Ahmed as AMD

Shahjalal Islami Bank recently promoted Mr. Imtiaz Uddin Ahmed to the position of additional managing director (AMD), according to a statement.Mr. Ahmed's promotion recognises his significant contributions to the bank in different areas of business and operations. He has extensive experience and knowledge in a wide range of banking functions,...

BD’s economy ‘holds glimmers of hope’ amid IMF-ADB's lower growth forecasts

Bangladesh's economy is showing signs of a gradual recovery, though GDP growth remains under pressure due to historically low tax revenues and a struggling banking sector burdened by about 35 per cent of defaulted loans, reports UNB.Professor Selim Raihan of the Economics department at Dhaka University, and also Executive Director...

BB to release newly-designed banknotes ahead of Eid

Bangladesh Bank (BB) has planned to circulate newly-designed banknotes in the market before Eid-ul-Azha, according to sources at the central bank, reports UNB.The redesigned notes will feature graffiti commemorating the July Uprising, along with elements reflecting the country's cultural heritage and traditions.Discussions surrounding the introduction of the new notes began...

SOUTHEAST BANK FOR J.P. MORGAN PAYMENTS' SOLUTION

A senior delegation from J.P. Morgan Payments recently met Mr. Nuruddin Md. Sadeque Hossain, managing director, Southeast Bank, at the bank's head office. The J.P. Morgan delegation was led by Christine Tan, managing director & head of Asia Pacific - Financial Institutions Group (FIG) Sales, Payments, as well as Sazzad...

PBIL CELEBRATES 15TH ANNIVERSARY

Prime Bank Investment Limited (PBIL) organised a ceremony on April 30 to celebrate its 15th anniversary as a full-fledged investment bank of Bangladesh. Chairman Mr. C Q K Mustaq Ahmed, members of the board of directors- Mr. Azam J Chowdhury, Mr. Anwaruddin Chowdhury, FCA, Mr. Hassan O. Rashid, and Mr....

Social Islami Bank opens Hajj Booth

In its continued efforts to provide prompt and quality service to Hajj pilgrims, Social Islami Bank PLC has inaugurated a dedicated "Hajj Booth" at the Ashkona Hajj Camp in Dhaka. The booth was officially inaugurated by Md. Nazmus Saadat, Deputy Managing Director of the bank on Saturday. This year, a...

Standard Bank opens Hajj Booth at Ashkona Hajj Camp

Shari'ah based Standard Bank PLC inaugurated a Hajj Booth at Ashkona Hajj Camp in Dhaka. Md. Habibur Rahman, Managing Director of the bank, formally inaugurated the Hajj Booth as the chief guest recently. Free passport endorsement, foreign currency exchange and Hajj information services will be provided to Haj pilgrims from...

UTTARA BANK INAUGURATES 'BELABO SUB-BRANCH'

Md. Rezaul Karim, Deputy Managing Director of Uttara Bank PLC, inaugurated the 47th Sub-Branch of the Bank named 'Belabo Sub-Branch' at Belabo in Narsingdi on Sunday. Md Rabiul Hasan, General Manager (Public Relation), was present as a special guest. Md. Atiqur Rahman, Deputy General Manager & Zonal Head (Narayanganj Zone),...

TWO NEW DIRECTORS JOIN BASIC BANK

Sheikh Farid (JDS Scholar), Joint Secretary of the Financial Institutions Division (FID), and Md Matiur Rahman, Professional Accountant, have officially joined the Board of Directors of state-owned BASIC Bank Limited. They participated in the 678th meeting of the Board held recently. On behalf of the Board, Helal Ahmed Chowdhury, Chairman...

National Bank Inaugurates 'Basic Course for Cash Officers'

A five-day 'Basic Course for Cash Officers' (34th Batch) of National Bank Limited was inaugurated at the bank's Training Institute on Sunday. A total of 27 officers from various branches of the bank are participating in this training course. Sheikh Akhter Uddin Ahmed, Managing Director (Current Charge) of National Bank,...

Samsung fights $520m India tax demand, points to Reliance practice

NEW DELHI, May 04 (Reuters): Samsung has asked an Indian tribunal to quash a $520 million tax demand for allegedly misclassifying imports of networking gear, arguing officials were aware of the practice as India's Reliance imported the same component in a similar manner for years, documents show.Samsung becomes the second...

McDonald's global sales post surprise drop

NEW YORK, May 04 (Reuters): McDonald's posted a surprise drop in first-quarter global comparable sales on Thursday, as demand from cash-strapped diners in the US and Europe faltered on uncertainty sparked by chaotic tariffs. The world's largest fast-food chain is navigating the "toughest of market conditions", CEO Chris Kempczinski said...