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

Regulator revises T-bonds' auction process

The process to participate in the auctions of Treasury bonds has been made more complicated, according to brokers, by the new securities commission for retail investors.The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday issued a directive bringing some changes to the auction process.The central bank holds a primary auction...

Khan Brothers signs ownership change deal after abnormal stock price surge

Khan Brothers PP Woven Bag Industries finally decided to sell ownership to BSB-Cambrian Education Group, having failed to return to profit due to a severe working capital shortage.However, the fact that the decision comes days after the securities regulator ordered a probe into the recent escalation of the stock of...

BSEC faces hurdles to select independent director for DSE

Bangladesh Securities and Exchange Commission (BSEC) has declared two new individuals for the post of independent director of the premier bourse DSE on Thursday replacing the candidates who had been selected a day before.This is the third time the country's stock market watchdog changed their proposed set of independent directors...

Govt introduces new customs codes to streamline export reporting

In a move aimed at addressing discrepancies in export data, the government is introducing three new Customs Procedure Codes (CPCs) to enhance the accuracy of export reporting and eliminate multiple entries of the same items, reports UNB.The new codes will help segregate different types of exports for better tracking. One...

BRAC Bank, PROVATi3-LGED and bKash sign tripartite agreement

BRAC Bank, PROVATi3-LGED, and bKash Limited have entered into a tripartite agreement to facilitate the digital disbursement of stipends to train youth in the Teesta-Brahmaputra basin, says a statement.Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate & Institutional Banking of BRAC Bank, Ali Ahmmed, Chief Commercial Officer...

LankaBangla Finance introduces co-branded Titanium Credit Card for CMSMEs

LankaBangla Finance PLC on Wednesday announced its collaboration with Mastercard and PriyoShop, an on-demand B2B marketplace, to introduce a co-branded Titanium credit card for CMSMEs. The new card will reduce merchants' reliance on cash, provide them additional benefits, and help them build a digital footprint to easily access formal financial...

SOCIAL ISLAMI BANK HOLDS EC MEETING

The Executive Committee (EC) of Social Islami Bank held a meeting at the bank's head office in Dhaka on Thursday. Maksuda Begum, Chairman of EC, presided over the meeting. Dr. M. Sadiqul Islam, Chairman of the bank, Mohammad Forkanullah, Managing Director (acting), Abdul Hannan Khan, Deputy Managing Director, and senior...

Islami Bank holds board meeting _

A meeting of the Board of Directors of Islami Bank Bangladesh PLC was held at Islami Bank Tower in Dhaka on Thursday. Md Obayed Ullah Al Masud, chairman of the bank, presided over the meeting. Md Abdul Jalil, Chairman, Executive Committee, Dr M Masud Rahman, Chairman, Risk Management Committee, Md...

Competition on ‘Best Meat Recipe’ ends

A competition on ‘Best Meat Recipe', sponsored by Radhuni and organised by Women Culinary Association of Bangladesh (WCAB), concluded at Uttara Ladies Club on Wednesday. Three competitors -- Nakiba Suhrat, Sadia Sharmin Hridi and Maksuda Begum -- secured top three positions and they received Tk 50,000, Tk 30,000 and Tk...

CITY BANK LAUNCHES VISA INFINITE CREDIT CARD

City Bank recently launched Visa Infinite credit card. The card comes with an air ticket voucher worth Tk 10,000, up to Tk 12,000 cash back per year, and specific buy-one-get-one-free buffet offers among other financial and service-related benefits. Mashrur Arefin, MD and CEO of City Bank, and Sabbir Ahmed, country...

IFIC BANK HOLD DISCUSSION SESSION WITH MANAGEMENT TEAM

A special meeting was held between the newly constituted board of directors of IFIC Bank and the bank's senior management team. The bank's Chairman Md. Mehmood Husain presided over the meeting on Saturday at the IFIC Tower in Dhaka. Md. Ebtadul Islam, Sajjad Zohir, and Kazi Md. Mahboob Kasem, FCA,...

MERCANTILE BANK OPENS 'SONAIMURI' BRANCH

Mercantile Bank started the operations of a new branch at Sonaimuri, Noakhali on Thursday under the control of its Chowmuhoni branch to provide convenient banking services to customers. Sponsor director and Chairman of Mercantile Bank Exchange House (UK) M. Amanullah inaugurated the branch on virtual platform as the chief guest....

Large Fed rate cut drives global markets higher

LONDON, Sept 19 (Reuters): A wave of risk appetite swept global financial markets higher from stocks and the dollar to gold and oil on Thursday, after the U.S. Federal Reserve kicked off its long-awaited interest rate cutting cycle with a half point move.Europe was waiting to see if the Bank...

China to ramp up policy steps to revive economy but no 'bazooka' stimulus seen

BEIJING, Sept 19 (Reuters): Chinese policymakers will likely step up measures to at least help the economy meet an increasingly challenging growth target for 2024, analysts and policy advisers say, with a sharper focus on boosting demand to fight persistent deflationary pressures.Official data showed the world's second-largest economy slowed broadly...

What has the Fed done in election years? Rate changes happen more often than not

The Federal Reserve's decision to cut interest rates by half a percentage point on Wednesday marked the closest the central bank has come in launching an easing cycle on the cusp of a U.S. presidential election in nearly half a century, reports Reuters.While interest rate policy is rarely static during...