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

Bank stocks mirror lenders' sapping financial health as investors react to news

Bank stocks that used to be investors' preferred choice among equities for investment have long been failing to attract buyers because of their weakening financial health. The latest news over the lenders' deepening capital shortfalls dragged them to a new low. For example, Global Islami Bank (GIB), which was listed...

Syed Mizanur Rahman appointed as MD of AB Bank

Syed Mizanur Rahman has been appointed as managing director & CEO of AB Bank , with effect from May 5, according to a press statement. Mr. Rahman joined AB Bank in March 2011 as senior vice president and worked in major portfolios of the bank before becoming the additional managing...

Southeast Bank MD sent on forced leave amid loan irregularity investigation

Nuruddin Md. Sadeque Hossain, managing director (MD) of Southeast Bank PLC (SEBL), has been sent on a three-month forced leave, effective Monday, said sources from SEBL and Bangladesh Bank, reports UNB.This leave will continue until August 4th. During this period, Deputy Managing Director (DMD) Abdur Rahman Chowdhury will serve as...

TREC licence of Tristar Securities revoked

The Dhaka Stock Exchange (DSE) has revoked the TREC licence of Tristar Securities only 44 months after it was issued due to the firm's failure to maintain the required capital.However, the owner of Tristar Securities, Md. Zillur Rahman Mridha told The Financial Express that he intentionally chose not to meet...

Pubali Bank to issue bonds to collect Tk 15b

Pubali Bank wants to raise Tk 15 billion through subordinated bonds to strengthen capital base under Basel-III compliance as per the Bangladesh Bank's December 2014 guidelines on risk-based capital adequacy.The bond issuance is subject to the approval of the regulatory authorities concerned- Bangladesh Bank and Bangladesh Securities and Exchange Commission,...

ICB holds meeting with investors in Barishal

A view-exchange meeting was organised by the Barishal branch of the Investment Corporation of Bangladesh (ICB) on May 4 at Hotel King Fisher & Restaurant in Barishal. The event was presided over by Niranjan Chandra Debnath, managing director of ICB. Professor Abu Ahmed, chairman of the board of directors of...

The myth of the egg syndicate

The previous government repeatedly accused poultry companies of manipulating the price of eggs and chicken. But what really happened? First, when Russia invaded Ukraine, the prices of most imported feed materials increased. This was beyond the control of the poultry industry, and was also beyond the control of the government.Second,...

TCB seeks allocation of 26,871 tonnes of rice

State-run Trading Corporation of Bangladesh (TCB) sought allocation of 26,871 tonnes of rice to sell them among 5.374 million smart cardholder families at a subsidised rate this month, sources said.The government has been selling some key essential items, including edible oil, lentil and sugar, among 10 million digital cardholder families...

BAIRA demands reopening of Malaysian labour market

Members of the Bangladesh Association of International Recruiting Agencies (BAIRA) urged the government on Monday to expedite the reopening of the Malaysian labour market in the interest of Bangladeshi workers, reports UNB.Speaking at a human chain and memorandum submission event held in front of the Expatriates' Welfare Bhaban in the...

CSBIBB holds 70th EC meeting

The 70th executive committee (EC) meeting of Central Shariah Board for Islamic Banks of Bangladesh (CSBIBB) was held at the head office of First Security Islami Bank PLC in the city on Monday. Chairman of the EC of CSBIBB Mohammad Abdul Mannan presided over the meeting. The meeting discussed various...

PETROBANGLA AND BANGLADESH KRISHI BANK SIGN MOU

Petrobangla and Bangladesh Krishi Bank signed a Memorandum of Understanding (MoU) on Monday to facilitate 50% payment of invoices for LNG imported from QatarEnergy. Director (Finance) of Petrobangla A K M Mizanur Rahman presided over the sigining ceremony held at Petrobangla's Meeting Room-1 at Kawran Bazar in Dhaka. Golam Md....

Turkey annual inflation eases to 37.9pc

ISTANBUL, May 05 (AFP): Turkey's annual inflation rate slowed in April for the 11th month in a row, official data showed Monday.Consumer price rises slowed to 37.9 per cent, down from 38.1 per cent in March, figures from the Turkish statistical institute (TUIK) showed. Turkey has experienced double-digit inflation since...

Berkshire shares fall as Buffett names Abel CEO of $1.16 trillion empire

Berkshire Hathaway shares fell 2 per cent in premarket trading after famed investor Warren Buffett said he would step down as CEO of the $1.16 trillion conglomerate after leading it for 60 years, reports Reuters.The company's board voted unanimously to name Vice Chairman Greg Abel as president and CEO starting...