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

Reforms can boost inflow of remittance thru formal banking channel

A massive awareness campaign and regulatory reforms are essential to encourage Bangladeshi expatriates to send home their hard-earned money through secure and authorised fund transfer channels, said the country director of an international money transfer company.The regulatory authority, commercial banks and cross-border money transfer operators (MTOs) in the country need...

Private jute millers seek waiver of source tax

Private jute millers have sought waiver of source tax on export earnings in the upcoming national budget for 2018-19 fiscal year (FY).They said earnings from this sector have declined significantly since the Indian government imposed anti-dumping duty on imports of jute goods from Bangladesh.Besides, the demand for this eco-friendly item...

Pathao looks to launch mobile wallet

Pathao, a ride-hailing app in Bangladesh, plans to launch its own mobile wallet next year to reduce consumer reliance on cash payments, reports CNBC."Payments is a big challenge. Bangladesh is a cash-based economy and most of the transactions happen over cash," Pathao's CEO and co-founder, Hussain Elius, told CNBC's 'Street...

120 companies join int'l expo of medical equipment

A series of exhibitions of medical and healthcare equipment began at the International Convention City Bashundhara in the capital on Thursday, says a statement.Organised by the CEMS Global-Conference & Exhibition Management Services Ltd., the three-day exhibitions - '11th Meditex Bangladesh 2018', '4th Bangladesh Clinical Lab Expo 2018' and '3rd International...

Onion prices soar despite ample supply

After remaining static for the last one and a half months, prices of onion increased notably in the market last week despite ample local supply and low import cost.Market experts said the onion prices have increased, as big importers and traders are on the prowl to take hold of the...

Canada trade deficit hits record Can$4.1b in March

OTTAWA, May 04 (AFP): Canada's trade deficit with the world widened from Can$2.9 billion (US$2.3 billion) in February to a record Can$4.1 billion (US$3.2 billion) in March, official data released Thursday showed.The deficit was more than double what analysts had forecasts, and marked a month of record trade with countries...

HSBC reports $4.76b pre-tax profit in Q1

HONG KONG, May 04 (AFP): Hong Kong banking giant HSBC said Friday that pre-tax profit dipped four per cent to $4.76 billion in the first three months of the year owing to rising operating costs but added it would buy back $2.0 billion worth of stock.It also said revenue rose...

Agility launches new online forwarding platform Shipa Freight

Agility, a leading global logistics provider, recently announced Shipa Freight, the first fully integrated online freight service that allows users to get rate quotes and book, pay and track ocean and air shipments around the world. Shipa Freight provides instant, no-obligation rate quotes from the countries that account for 95...

Ex-Volkswagen CEO faces criminal charge in US over diesel scandal

WASHINGTON/FRANKFURT, May 04 (Reuters): The US Justice Department has filed criminal charges against former Volkswagen AG Chief Executive Martin Winterkorn, accusing him of conspiring to cover up the German automaker's diesel emissions cheating.The indictment, filed in secret in March, was unsealed in US District Court on Thursday as Volkswagen held...

Malaysia's March export growth rebounds

KUALA LUMPUR, May 04 (Reuters): Malaysia's exports in March rebounded after a slowdown to rise 2.2 per cent from a year earlier, underpinned by higher shipments of manufactured goods, government data showed on Friday.Export growth was above the 1.7 per cent rise forecast by a Reuters poll, and up from...

News Briefs--(5-5-2018)

Retail sales up in Vietnam HANOI, May 4 : Vietnam's total goods retail sales and consumer service revenues in the first four months of this year rose 9.8 per cent year-on-year to 1,399 trillion Vietnamese dong (over 61.6 billion US dollars), its General Statistics Office announced on Friday. Specifically, Vietnam's...

Berger Paints Bangladesh Limited taking out a procession

Berger Paints Bangladesh Limited taking out a procession in the city marking the International Workers’ Day (May Day) recently