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

Regulator to fine directors of cos for non-payment of dividends

In a major drive to enforce compliance, the securities regulator is going tough on errant companies that failed to complete the distribution of approved cash dividends.The Bangladesh Securities and Exchange Commission (BSEC) has decided to penalize directors and managing directors of 10 listed companies with a fine amounting to Tk...

Submarine Cables performs poorly amid tough competition

Bangladesh Submarine Cables' profit plummeted 25 per cent year-on-year to nearly Tk 476 million in the first quarter through September of FY25, mainly due to a reduction in revenue and higher operating expenses.Earnings per share (EPS) fell to Tk 2.57 for July-September 2024 from Tk 3.22 for the same quarter...

Berger opens new experience zone at Pragati Sarani

To enhance customer service excellence and expand accessibility to comprehensive painting solutions, Berger Paints Bangladesh Limited (BPBL) inaugurated the 'Berger Experience Zone, Bashundhara' in Dhaka on Sunday.Managing Director of Berger Paints Rupali Chowdhury; COO and Director Mohsin Habib Chowdhury; Group CFO and Director Sajjad Rahim Chowdhury; Chief Business Officer Abul...

Envoy Textiles to double yarn-making capacity

Envoy Textiles has decided to increase its blended yarn production capacity by 4,550 metric tons annually by investing Tk 973 million.At present, it has a production capacity of 4,200 metric tons per year."We need more blended yarn for our denim fabric production. If we import it, we will have to...

Plan to raise gas production by 648 mcf daily

The interim government plans to increase gas production by 648 million cubic feet per day by December 2025 through the installation and workover of 50 wells, reports BSS.Besides, a work plan has been set to boost production by 1,500 million cubic feet daily through the drilling and/or workover of 100...

Evercare Hospital Ctg appoints new Head of Branding and PR

CHATTOGRAM, Nov 10: Evercare Hospital Chattogram has appointed Salahuddin Mamun as the head of its branding and public relations department. Previously, he served as the Assistant General Manager of the department.Salahuddin Mamun, a seasoned professional with extensive experience in public relations and branding, will now be responsible for managing and...

BIAC HOLDS TWO-DAY TRAINING IN WORKPLACE CONFLICT RESOLUTION

Bangladesh International Arbitration Centre (BIAC) recently conducted a two-day training programme on workplace conflict resolution recently at its venue in Dhaka. A total of 33 participants attended the training, representing a diverse group of professionals, including managers, HR professionals, credit risk management officers, customer relations managers from banks, government officials,...

SOUTHEAST BANK, MASTERCARD, ZANTRIK JOIN HANDS FOR NEW PREPAID CARD

Southeast Bank recently announced its collaboration with Mastercard and vehicle maintenance startup, Zantrik, to launch a prepaid card. It will enable customers to manage car maintenance budget by setting spending limits and through special deals on Zantrik's platform. Cardholders will be able to enjoy a 20 per cent discount on...

BANGLADESH ACADEMY OF SCIENCES HOLDS GOLD MEDAL AWARD CEREMONY

A gold medal award ceremony in the name of Emeritus Professor Dr. Sultan Ahmed Choudhury, an initiative of Bangladesh Academy of Sciences, was held on Saturday at the auditorium of the National Science and Technology Complex in the capital. Emeritus Prof. Dr. A.K Azad Chowdhury, the president of Bangladesh Academy...

NCC BANK BOARD MEETING HELD

The 523rd meeting of the Board of Directors of NCC Bank was held at the bank's board room recently. Chairman of the bank Md Nurun Newaz Salim presided over the meeting attended by Vice-Chairman A.S.M Mainuddin Monem, Director & Past Chairman Abdus Salam, Director & Past Vice-Chairman Sohela Hossain, Director...

Citizens Bank holds 25th board meeting

The 25th Meeting of the Board of Directors of Citizens Bank PLC was held at its head office recently, with its Chairman Chowdhury Mohammed Hanif Shoeb in the chair. Directors Masuduzzaman, Mohammed Iqbal, Mukhlesur Rahman, and S M Shofiqul Hoq, Independent Director A K M Shahidul Haque and Managing Director...

NEW CUEESA COMMITTEE MEMBERS TAKE OATH

The swearing-in ceremony for newly elected executive council members of the Chittagong University Ex-Economics Students' Association (CUEESA) was held at its office in Dhaka recently. Chief Election Commissioner Mizanul Islam administered the oath to the newly elected members of the Executive Council. The elected executives are President -- Md.Abdullah; General...

Tesla hits $1 trillion market value as Musk-backed Trump win fans optimism

Tesla's market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk's companies will get favorable treatment under President-elect Donald Trump for his extensive support during the poll campaign, reports Reuters.The electric automaker's shares jumped 8.2 per cent to $321.22, catapulting...

Wall Street drafts Trump wish lists over bank capital, SEC regulation

WASHINGTON/NEW YORK, Nov 10 (Reuters): The banking and finance industries are rapidly drawing up wish lists for lighter regulation under President Donald Trump's incoming administration as Wall Street sees a window of opportunity to influence policy.Numerous financial trade groups are working on detailed lists to hand to Trump's transition team,...

Saudi Central Bank lowers benchmark rate by 25 bps following US Fed decision

RIYADH, Nov 10 (Arab News): Saudi Arabia's central bank has implemented its second interest rate reduction of 2024, lowering the benchmark by 25 basis points to 5.25 percent.This adjustment mirrors the recent US Federal Reserve decision, which also cut rates by the same amount to a target of 4.5 -...