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

BTRC moves to craft mobile banking policy guideline

The country's telecom regulator has moved to formulate a new policy guideline to make the rapidly growing transactions through mobile banking more secured and transparent. The Bangladesh Telecommunication Regulatory Commission (BTRC) formed two separate committees in this regard after instructions from the Bangladesh Bank (BB), sources said. Recently, the BTRC...

Australian cos look out for local partners, says trade official

Australia is interested to further enhance its trade and investments in Bangladesh to the mutual benefit of the two countries, a senior Australian trade official has said. Australian entrepreneurs are eager to explore business opportunities in Bangladesh in areas like food, agriculture products, technology transfer, infrastructure, mining and energy. "Through...

Rampant import of raw rubber threatens local production

3500 tonnes of locally produced raw rubber worth Tk 630 million has long been lying unsold, officials close to the sector said. Besides, the domestic rubber industry is lately facing a threat due to the rampant import of raw rubber sheets bypassing the 'quality rubber' produced locally, they said. Earlier,...

ADB awards three best performing project teams

The Asian Development Bank (ADB) has awarded the teams of three best performing projects in Bangladesh under various ministries as part of its efforts to promote efficient project implementation. The award winning projects are 'second crop diversification project,' executed jointly by the Department of Agricultural Extension and Bangladesh Bank; 'second...

Carmakers hope for better days at morose India Auto Show

NEW DELHI, Feb 5 (AFP): Global car manufacturers jostled for attention at the opening of the Indian Auto Expo on Wednesday, attempting to revive buyers' interest in a local market that is contracting for the first time in a decade. The giant show on the outskirts of the capital will...

JPMorgan to pay $614m to settle charges on bad loans

NEW YORK, Feb 5 (AFP): JPMorgan Chase will pay $614 million to settle US charges that it approved thousands of bad loans that wrongly qualified for federal insurance, the Department of Justice announced Tuesday. The big US bank approved thousands of mortgage loans that were guaranteed by Federal Housing Administration...

News Briefs

BIA urges Jamaat to suspend hartal Bangladesh Insurance Association (BIA) has urged Bangladesh Jamaat-e-Islami to postpone Thursday's hartal for greater interest of the nation. BIA president Sheikh Kabir Hossain in a press release said large-scale destruction during hartals causes significant loss to the insurers, as they have to pay insurance...

Photo: IIDFC Limited

BD exports to Turkey cross $1.0b mark

Bangladesh's exports to Turkey crossed US$1.0-billion mark for the first time in 2013 following a significant rise in the shipment of garment products despite having safeguard measures there. Increased shipments of some other products including non-knitted products, jute yarn and ceramics also helped enhance Bangladesh's earnings from Turkey, a statement...

JETRO urged to ink MoU with DCCI

Japan External Trade Organisation (JETRO) has been urged to sign a Memorandum of Understanding (MoU) with DCCI to accelerate bilateral trade between Bangladesh and Japan. President of Dhaka Chamber of Commerce and Industry (DCCI) Mohammad Shahjahan Khan made the appeal while Country Representative of JETRO in Bangladesh Kei Kawalo called...

Int\\\'l Tourism Fair begins in Ctg today

A three-day international tourism fair titled Chittagong Travel Mart-2013 begins at The Peninsula Chittagong today (Thursday), said a press release. The Bangladesh Monitor, a travel publication, is organising the fair for the fifth time. Participants from home and abroad, including airlines, tour operators, hotels, resorts, amusement parks and tourism related...

Thai Islamic bank swings to profit, trims bad debt

BANGKOK, Feb 5 (Reuters): State-owned Islamic Bank of Thailand has swung to profit in 2013, as it continues to trim its bad debt portfolio while growing deposits and expanding small-business lending. The only sharia-compliant lender in the country made an unaudited profit of 2.7 billion baht ($82.4 million) last year,...

Taking free legal aid services to workers\\\' doorsteps stressed

Speakers at a meeting Wednesday strongly emphasised on taking free legal aid services to the doorsteps of country's workers, especially in the readymade garment (RMG) sector. They also suggested creation of awareness among the workers and the mid-level employees on a large scale about workers' rights, facilitating them to work...

Cyprus banks saddled with massive non-performing loans

NICOSIA, Feb 5 (AFP): Banks in recession-hit Cyprus, reeling from a financial crisis, are struggling with non-performing loans that make up nearly half their lending and are hampering efforts to finance a cash-starved economy. The central bank says banks' liquidity is sufficient to absorb NPLs up to a certain point,...