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

Stocks back in green, but daily turnover hits two-month low

Stocks returned to positive territory on Tuesday, snapping a seven-day losing streak, as investors showed buying appetite for fundamentally sound stocks at low price points.The DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled 32.96 points or 0.64 per cent higher at 5,124 on Tuesday after hitting a...

Sea Pearl Beach Resort jumps 261pc on DSE trading debut

Sea Pearl Beach Resort & Spa Ltd. made a flying trading debut on both the bourses on Tuesday as its share price jumped as high as 261 per cent riding on the investors' 'irrational hype' over the new issue.The 'Travel & Leisure' sector company's share was traded between Tk 25.10...

MTB supports Jaago school project

Mutual Trust Bank Limited (MTB) and Jaago Foundation signed a Memorandum of Understanding (MoU) recently to bear the expenses for education of destitute children studying in the schools run and supervised by Jaago Foundation, said a statement. Korvi Rakshand, Executive Director, Jaago Foundation, and Azam Khan, Group Chief Communications Officer,...

BSEC approves draft prospectus of new mutual fund

The securities regulator has approved the draft prospectus of an open-ended mutual fund, Capitec Popular Life Unit Fund, with an initial target size of Tk 250 million.The approval came at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) held at its office in the city on Tuesday, with...

Alibaba shareholders approve stock split ahead of reported HK listing

Alibaba shareholders voted overwhelmingly in favour of a stock split that the e-commerce giant said could help with further fundraising activities, reports CNBC.That stock split, which must come into effect before July 15, 2020, will see one ordinary share split into eight. That would mean the current number of ordinary...

Bazal Ahmed elected vice chairman of UCB

Bazal Ahmed has been elected vice chairman of the United Commercial Bank Limited (UCB) at the 439th board meeting of the bank. He is also a member of the executive committee of UCB. Mr Ahmed is the son of late MA Bari, a sponsor-director of the bank. He is also...

Bank Asia Ltd. organised a daylong training

Bank Asia Ltd. organised a daylong training on 'Islamic Banking & Finance' for 64 officials and Assistant Relationship Officers from the Consumer Finance Centre of the bank recently. The photo shows President & Managing Director of the bank Md Arfan Ali posing with the participants of the training programme at...

Robi-Novoair agreement on special discount offer

Robi's high-value customers can now enjoy up to 10 per cent special discounts on base fare from Novoair while travelling to local and international destinations. This offer comes as part of Robi's Dhonnobad programme, says a statement. To this end, Robi's Vice President, Customer Lifecycle Management & International Business, Rafiqul...

Asia markets mixed, Europe stocks gain

Stocks in Asia were mixed on Tuesday, as minutes from a recent meeting by the Reserve Bank of Australia showed the central bank's willingness to move on monetary policy if necessary, reports CNBC.In China, the Shanghai composite slipped 0.16 per cent to close at 2,937.62, while the Shenzhen component shed...

Mixed earnings at large US banks

NEW YORK, July 16 (AFP): JPMorgan Chase reported record quarterly profits on Tuesday behind strong consumer business, but shares were pressured by worries over expected Federal Reserve interest rate cuts on a day of mixed results by large banks.Wells Fargo also notched higher profits, while Goldman Sachs reported a dip...

Trump wants review of Google's ties to China

WASHINGTON, July 16 (AFP): President Donald Trump said Tuesday he wants his administration to "take a look" into whether Google has been working with the Chinese government-an allegation swiftly denied by the US internet giant.Trump echoed an unsubstantiated remark from tech billionaire Peter Thiel that Google had been working with...

Chinese robotics firm files for US IPO

Chinese cloud-based robotics company CloudMinds Inc. filed for an initial public offering (IPO) on the US stock market, China Daily reported.The company intends to list on the New York Stock Exchange under the ticker symbol "CMDS," with an expectation to raise up to US$500 million, according to its prospectus filed...

Union Bank

Union Bank Limited signed a Memorandum of Understanding with Padma Islami Life Insurance Ltd. in Dhaka recently for the implementation of a scheme of Group Term Life Insurance for employees, Mudaraba Savings Deposit Account holders and Mudaraba Monthly Deposit Scheme holders of the bank. Deputy Managing Director of Union Bank...

AZM Saleh

AZM Saleh, Managing Director and CEO of Islamic Finance and Investment Limited (IFIL), posing with the participants of a daylong training programme on 'Orientation on employees' job description and investment administration in line with prudential guidelines' held at the IFIL Head Office in Dhaka recently

Best Electronics

Best Electronics Ltd., a leading multi-brand home appliances marketing company, opened its new showrooms at Khilkhet and Bangshal in Dhaka recently. Syed Asaduzzaman, Managing Director of Best Electronics Ltd., formally inaugurated the showrooms