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

Premier Cement to raise share money to bring down interest burden

Premier Cement Mills is planning to issue preference shares to raise Tk 1.61 billion for prepayment of high-cost debts.The board of directors has decided to issue only 322 shares at a face value/issue price of Tk 5 million each, said the company in a stock exchange filing on Thursday.The preference...

Pharma Aids rebounds on higher sales in FY24

Pharma Aids made a remarkable turnaround in FY24 after suffering a moderate loss in the previous year, riding on higher sales and increased selling prices.The pioneer ampoules manufacturer reported a profit of Tk 61 million in FY24, as against a loss of Tk 6.4 million the year before.Earnings per share...

MTB posts 59pc profit growth

Mutual Trust Bank PLC (MTB) recently announced its unaudited financial results for the third quarter of 2024, showcasing remarkable resilience and growth. Amid an industry-wide struggle with customer confidence, MTB has demonstrated strong financial performance, driven by record breaking growth in customer deposits and solid bottom-line growths, says a statement.MTB's...

SOUTHEAST BANK HOLDS BUSINESS REVIEW MEETING

Southeast Bank has held its business review meeting recently. The bank's Managing Director Nuruddin Md. Sadeque Hossain presided over the meeting. Executives from the head office, head of branches, operation managers, in-charges of sub-branches and offshore banking units participated in the meeting virtually. The bank's achievements were evaluated at the...

MERCANTILE BANK OPENS SUB-BRANCH IN PIROJPUR

Mercantile Bank opened its Swarupkathi sub-branch in Pirojpur's Nesarabad on Thursday. The bank's sponsor director A. S. M. Feroz Alam inaugurated the sub-branch as the chief guest. The bank’s Managing Director Md. Quamrul Islam Chowdhury and AMD Mati Ul Hasan were present at the event among others. The 44th sub-branch...

PRIME BANK SIGNS PAYROLL AGREEMENT WITH BS GROUP

Prime Bank has recently signed a payroll agreement with BS Group at the bank's corporate office. Under this agreement, employees of BS Group will enjoy preferential banking services including credit card and loan facilities from Prime Bank. The bank's Deputy Managing Director Md. Nazeem A. Choudhury and BS Group's Director...

Invest in BD’s marine, offshore industry

Shipping Adviser Brigadier General (retd) Dr M Sakhawat Hussain on Thursday urged local and foreign investors to invest in the country's maritime and offshore industry to tap huge opportunities of the sector.He made the call while inaugurating the 6th edition of International Exhibition titled 'Bangladesh International Marine and Offshore Expo...

SUSTAINABILITY DAY 2024 CELEBRATED

The United Nations Global Compact Network Bangladesh celebrated Sustainability Day 2024 with an event at a city hotel on Wednesday. This year's theme, "Building Resilience: Advancing Sustainability," reflects the critical moment in Bangladesh's history, with a change in the political landscape, an evolving regulatory environment and its upcoming graduation from...

CLOSING CEREMONY OF SREUP PROJECT

Bangladesh Bank hosted the closing ceremony of the 'Programme to Support Safety Retrofits and Environmental Upgrades in the Bangladeshi Ready-Made Garments (RMG) Sector (SREUP)' on Wednesday. The event celebrated SREUP's remarkable achievements in promoting sustainable practices and improving safety standards within Bangladesh's RMG industry, a pillar of the national economy....

SONALI BANK CBA GREETS NEW CEO & MD

Sonali Bank Employees Association (CBA) congratulated Md Shawkat Ali Khan, the newly appointed CEO & MD of Sonali Bank PLC. CBA President Md Zakir Hossain and Secretary Md Mahbub Hossain greeted the new CEO with a bouquet recently. The CBA leaders also presented a 15-point demand. In response, CEO Md...

REGAL EMPORIUM LAUNCHES 'HONEY BIRD' CAMPAIGN

Regal Emporium, the country's leading furniture chain shop, has launched a campaign called 'Honey Bird,' offering customers a chance to win a honeymoon to Indonesia, along with discounts on furniture purchases. In addition to the chance to visit Bali for a honeymoon, customers can enjoy up to 15 per cent...

India raids offices of sellers using Amazon, Flipkart platforms

NEW DELHI, Nov 07 (Reuters): India's financial crime agency has raided offices of some sellers operating Amazon and Walmart-owned Flipkart in an investigation into alleged violations of foreign investment rules, two government sources said on Thursday.The searches come weeks after Reuters reported India's antitrust body had found the two companies...

US farm producers brace for hit to exports to China in Trump admin

SHANGHAI, Nov 07 (Reuters): US agriculture producers are bracing for the prospect of a fresh trade war under US President-elect Donald Trump again hitting exports of farm goods to China, but they said while any new tariffs would hurt, they felt better prepared.Several U.S growers of crops from almonds to...

Nissan plans 9,000 job cuts, slashes annual profit outlook

TOKYO, Nov 07 (Reuters): Nissan Motor announced a $2.6 billion cost saving plan on Thursday, including 9,000 job cuts and a 20 per cent reduction in global production capacity as it battles falling sales in China and the United States.Japan's third-largest automaker also cut its annual operating profit forecast by...

Trump win casts fresh doubts over Wall Street's China strategy

HONG KONG/SYDNEY, Nov 7 (Reuters): More US financial firms may pull back from China, hive off local units to minimise risks or pause expansion plans on concerns about geopolitical tensions in a Donald Trump presidency, industry executives and analysts said.Mainland China was a lucrative market for Wall Street investment banks...