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

Stocks see biggest single-day fall in over a month after downgrade of 28 cos

Stocks logged the biggest single-day fall in over a month on Thursday, a day after the stock exchange downgraded 27 firms to 'Z' category for non-compliance with the securities laws.Such a decision triggered panic selling, causing the benchmark index to drop below the 5,700-mark at the opening.Finally, DSEX, the prime...

Unique Hotel's profit drops 20pc in FY24

Unique Hotel & Resorts, the owning company of The Westin Dhaka, has reported a 20 per cent drop in profit for FY24, as there was no extraordinary income from share sales apart from business operation.The luxury hotel turned in Tk 1.51 billion annual profit in FY24, down from Tk 1.89...

BATBC to invest Tk 115.6m in rooftop solar panel

British American Tobacco Bangladesh Company (BATBC) is set to invest Tk 115.6 million in rooftop solar panels and related infrastructure at its Savar factory.In a stock exchange filing on Thursday, the multinational cigarette manufacturer said its board has approved the capital investment decision at a meeting held on Wednesday."The investment...

MTB awarded 'Best Performance in Risk Management' title

Mutual Trust Bank PLC (MTB) has been awarded the prestigious "Best Performance in Risk Management" title by the Indian Chamber of Commerce (ICC), recognising the bank's exceptional commitment to safeguarding stakeholders' interests and its excellence in risk management practices, says a statement.MTB's comprehensive Risk Governance Framework ensures accountability at all...

Rahima Food under BSCE scanners

The Bangladesh Securities and Exchange Commission (BSEC) formed a committee on Thursday to investigate the accuracy and relevance of the shares issued and paid-up capital of Rahima Food Corporation.The three-member committee led by BSEC deputy director Ziaur Rahman has been asked to submit a report within 15 days from the...

UCB TO PROVIDE PAYROLL BANKING SOLUTIONS TO PARAMOUNT GROUP

United Commercial Bank (UCB) PLC, a leading private bank, has recently signed a Memorandum of Understanding (MoU) with Paramount Group as part of its continuous commitment to product innovation. Syed Faridul Islam, Managing Director & CEO (Acting) of UCB, and Shakhawat Hossain, Chairman of Paramount Group, signed the agreement at...

BD exports 18 tonnes of hilsa to India

Bangladesh has sent 18 tonnes of hilsa to India as part of a special consideration to give West Bengal residents a taste of the popular fish ahead of Durga Puja, reports bdnews24.com.The first shipment crossed the border into India on Thursday afternoon, according to Mahabubur Rahman, the fish quarantine officer...

Planning and Education Adviser Dr Wahiduddin Mahmud chaired the meeting

Planning and Education Adviser Dr Wahiduddin Mahmud chaired the meeting of the taskforce titled "Re-strategising the economy and mobilising resources for equitable and sustainable development" at the Nazia-Salma Conference Room at the Planning Commission in Dhaka on Thursday. — PID

ICSB delegation meets with NBR Chairman

The delegation of the Institute of Chartered Secretaries of Bangladesh (ICSB) led by its president Mohammad Asad Ullah called on Md Abdur Rahman Khan, Secretary, Internal Resources Division (IRD) and Chairman of National Board of Revenue (NBR) at his office on Thursday, says a press release.On behalf of the delegation,...

AGRANI BANK HOLDS WORKSHOP ON ISLAMIC BANKING OPERATION

The certificate award ceremony a five-day training on Islamic Banking Operation organised by Agrani Bank Training Institute (ABTI) was held in Dhaka on Thursday. Agrani Bank PLC Deputy Managing Director Md Abul Bashar distributed certificates among 48 participants. ABTI Director and DMD Md Rezaul Karim presided over the programme. DMD...

OpenAI to remove non-profit control and give Sam Altman equity

SAN FRANCISCO, Sept 26 (Reuters): ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board, people familiar with the matter told Reuters, in a move that will make the company more attractive to...

New customs agreement to boost UAE, US economic ties

RIYADH, Sept 26 (Arab News): The economic partnership between the UAE and the US is poised for significant expansion with the introduction of a new customs cooperation agreement. This initiative aims to reduce customs violations, combat illicit trade, and enhance technical collaboration between the two nations.The agreement was formalized during...

Chinese banks in need of capital injection to give thrust to economic stimulus steps

HONG KONG, Sept 26 (Reuters): As China steps up efforts to stabilise its economy with fresh stimulus, the country's top banks would need to be capitalised at the earliest to help them boost lending to revive faltering growth and manage asset quality strains, analysts said.Chinese banks' profitability, which has already...

CarMax misses quarterly profit estimates

NEW YORK, Sept 26 (Reuters): Used car retailer CarMax missed Wall Street estimates for second-quarter profit on Thursday as price cuts on used vehicles boosted unit sales but kept margins depressed.Shares of the company were down 7.6 per cent in premarket trading.Pre-owned vehicle retailers have had a bumpy ride, with...

India sees food inflation easing

NEW DELHI, Sept 26 (Reuters): India expects food inflation to ease in the absence of climatic shocks, and low oil prices will be a "bright spot for the economy", the government's monthly economic report said on Thursday.India's central bank said this month headline inflation may average 4.5 per cent in...