Global Islami Bank in the red, with its wounds laid bare
The struggling Global Islami Bank (GIB) plunged into the red in the July-September quarter this year as the new board adjusted provisions against bad loans that had not been exposed previously.The fourth generation Shariah-compliant bank reported a loss of Tk 570 million in the quarter as opposed to a profit...
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Here is why blue chip stocks have kept falling
Market leaders, including Grameenphone and Square Pharmaceuticals, which experienced significant gains on the bourses after the August change in the political regime, endured sharp corrections in recent sessions.Experts say the companies having the ability to influence the index had witnessed a sharp rise as investors hoped for an improvement in...
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NBL expects turnaround in months
The liquidity crisis-hit National Bank is hopeful of its turnaround within the next few months, largely riding on the cash support provided by the central bank.The recently-reconstructed board members of the first-generation commercial lender expressed this optimism at a press conference marking their 100 days of work on Thursday. They...
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Ship breakers urged to meet June 2025 deadline
CHATTOGRAM, Nov 28: The Bangladesh Ship Breakers and Recyclers Association (BSBRA) held its 41st Annual General Meeting (AGM) in the port city on Thursday. Members attending the meeting called for united efforts and dynamism to boost the industry, which has been grappling with various crises over the past few years.President...
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Mirza Azhar joins Bank Asia as DMD
Mirza Azhar Ahmad has joined Bank Asia PLC as Deputy Managing Director (DMD) & Chief Operating Officer recently, says a press release. Mr. Ahmad started his career with Standard Chartered Bank in 1999 and served there till 2022. Afterwards, he joined ONE Bank PLC as Senior Executive Vice President and...
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Mutual Trust Bank Inks Deal with PFEC Global
Mutual Trust Bank (MTB) recently signed an agreement with PFEC Global to provide payroll banking services to its employees. Md. Shafquat Hossain, deputy managing director & head of retail banking of Mutual Trust Bank, and Md. Shahidul Islam, CEO of PFEC Global, the documents at a ceremony at MTB corporate...
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Islami Bank inaugurates Laxmipur Branch in Rajshahi
Islami Bank Bangladesh inaugurated 398th Laxmipur branch in Rajshahi on Thursday. Obayed Ullah Al Masud, chairman of the bank, addressed the programme as the chief guest. Md. Abdul Jalil, chairman, executive committee, Professor Dr. M. Masud Rahman, chairman of Risk Management Committee, and Mohammad Khurshid Wahab, independent director, were present...
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522nd BOARD MEETING of SOCIAL ISLAMI BANK HELD
Social Islami Bank held its 522nd Board meeting at the bank's head office in Dhaka on Thursday. Chairman of the Bank Professor Dr. M. Sadiqul Islam presided over the meeting. Vice Chairman Maksuda Begum, and Directors Major (Retd.) Dr. Md. Rezaul Haque, Md. Morshed Alam Khondoker and Md. Anwar Hossain...
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The 37th Annual General Meeting of RPGCL held
The 37th Annual General Meeting of Rupantarita Prakritik Gas Company Limited (RPGCL) of Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) was held in the city on Wednesday with Muhammad Musharraf Hossain Bhuiyan, Chairman of RPGCL Board of Directors in the chair. The meeting was attended by Chairman of Petrobangla Zanendra...
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HSBC, DBL Lifestyles sign agreement
The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh and DBL Lifestyles Ltd., the flagship retail brand of DBL Group, have collaborated to enhance DBL Lifestyle's digital payment services under an agreement signed recently in presence of M. A. Rahim, Vice Chairman, M. A. Quader, Deputy Managing Director & Group...
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What the Adani allegations highlight about India's clean energy push
NEW DELHI, Nov 28 (Reuters): Bribery allegations against Adani Group founder Gautam Adani have highlighted the growing problem India's renewable energy developers face in finding buyers for the power they generate.While India's central government wants to shift away from polluting coal-fired generation towards solar and wind, officials say state government-owned...
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Major Gulf markets gain on Hezbollah-Israel ceasefire
Major stock markets in the Gulf rose in early trade on Thursday following Israel's agreement to a ceasefire deal with Lebanon's Hezbollah group under a deal brokered by the US and France, reports Reuters.The agreement, a rare diplomatic feat in a region racked by conflict, ended the deadliest confrontation between...
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World markets head for reality check after month of Trump
LONDON, Nov 29 (Reuters): November was a month of clear winners and losers from Donald Trump's November 5 US election victory.Trump trades, essentially punishing tariff-sensitive assets from European exporters to Mexico's peso and driving investment towards US stocks and the dollar, proved successful. Wall Street has rallied, the dollar gained...
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Indian benchmarks slide as IT stocks, derivatives expiry weigh
India's benchmark indexes posted their steepest declines in nearly two months on Thursday, dragged down by heavyweight IT firms and as investors adjusted positions due to the expiry of monthly derivatives contracts, reports Reuters.The NSE Nifty 50 fell 1.49 per cent to 23,914.15, while the BSE Sensex lost 1.48 per...
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