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

Raw jute prices witness 30pc hike amid crop loss

The prices of raw jute have seen an increase of 30 per cent in this harvesting season, compared to the previous year, amid crop losses caused by unfavourable climatic condition in many districts. On the other hand, jute mills are affected by the supply crunch of quality raw jute.According to...

Poultry, fish feed makers must use jute bags for packaging

From now on, the country's poultry and fish feed manufacturers have to use jute bags for packaging their products. The Ministry of Textiles and Jute issued a circular recently to this end.According to the circular, the government has enlisted the poultry and fish feed industries under the Mandatory Jute Packaging...

New HVDC link boosts India-BD power transmission capacity

Siemens has commissioned the second block of a high-voltage direct-current (HVDC) back-to-back link in Bheramara, Bangladesh, according to a report by www.power-technology.com. With this commissioning, Siemens has helped establish a new electricity supply connectivity between India and Bangladesh with a transmission capacity of up to 500 megawatt (MW). The company...

Frankfurt trade fair organisers arrive today

Top officials of the largest trade fair organiser, Messe Frankfurt Group, will arrive in Dhaka today (Tuesday).Stephan Kurzawski, Senior Vice President (consumer goods) and Board Member of Messe Frankfurt Group, along with Erdmann Kilian, Director (marketing communications/press) will visit Dhaka to explore business opportunities ahead of its next fair to...

'Pathaofood' service now in Chattogram

CHATTOGRAM, Sept 3: 'Pathaofood' service is now available in the port city of Chattogram after Dhaka.Pathao, the app-based ridesharing service, launched the food service at a ceremony at the Peninsula Hotel on Monday.Using the Pathaofood app, food lovers in Chattogram can now place orders for food delivery from hundreds of...

Ex-SCB chair M R Ali dies at 77

Former chairman of Shippers' Council of Bangladesh (SCB) M R Ali died at a hospital in the capital on Saturday (September 1).He was 77. He was buried at Mohammadpur graveyard.He left behind his wife, one son, two daughters, a host of relatives and admirers to mourn his death.He had served...

Escalating trade conflict hits Asian factories

TOKYO, Sept 3 (Reuters): Manufacturing activity in major Asian economies took a hit from weak export orders in August, a sign firms are starting to feel the pinch from intensifying trade friction between the United States and China that many fear could derail global growth.Surveys of purchasing managers released on...

BUILD launches CD on business start-up licence

The trustee board members of BUILD launched a CD on Business Start-up Licences: A Regulatory Guide", researched, prepared and published by BUILD and Bangladesh Investment Development Authority (BIDA), says a statement.It provides a critical source of information about licence, permit, approval, certificate, registration, etc. needed for doing business in Bangladesh....

Malaysia, S'pore agree to postpone rail project

KUALA LUMPUR, Sept 03 (Reuters): Malaysia has agreed with Singapore to postpone the development of a high-speed rail service by two years, Malaysian media reported.Malaysia, the third-largest economy in Southeast Asia, is looking to review mega projects to cut its massive debt.Malaysian business weekly The Edge on Saturday cited sources...

Xi offers $60b Africa aid

BEIJING, Sept 03 (AFP): President Xi Jinping told African leaders on Monday that China's investments on the continent have 'no political strings attached', pledging $60 billion in new development financing, even as Beijing is increasingly criticised over its debt-heavy projects abroad.Xi offered the funding at the start of a two-day...

Australia business investment slips

SYDNEY, Sept 03 (Reuters): Australian business investment took a surprising fall last quarter as miners wrapped up work on some major projects, though a sizable upgrade to spending plans for the year ahead suggested the pullback was just a speed bump.Investment slipped a seasonally adjusted 2.5 per cent in the...

Lira leads emerging currency losses

LONDON, Sept 03 (Reuters): Turkey's lira led emerging currency losses on Monday after inflation spiked to almost 18 per cent in August, while the Indonesian rupiah fell to its lowest level since the Asian financial crisis.The lira was down 1.5 per cent after Turkish consumer price inflation rose to a...

Fitch gives reprieve to Italy govt bond yields

LONDON, Sept 03 (Reuters): Italian bond yields edged lower on Monday after Fitch left its credit rating unchanged at BBB, revising only its outlook to negative, though mixed news flow from senior ministers and manufacturing PMI data due later this morning could mean the rally is short-lived, analysts said.Elsewhere yields...

Iranian rial hits record low at 128,000 against dollar

TEHRAN, Sept 3 (Reuters): The Iranian rial hit a record low against the U.S. dollar on the unofficial market on Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States.The dollar was being offered for as much as 128,000 rials, according to foreign...

Electric Mercedes opens German assault on Tesla

STOCKHOLM/PARIS, Sept 3 (Reuters): Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla's dominance of the fast-growing market for premium battery cars.Daimler-owned Mercedes, BMW and Volkswagen's Audi and Porsche divisions are all gunning for the $52 billion Californian upstart,...