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

Export earnings fall 11.74pc in Aug

The single-month export earnings from merchandise shipments fell by 11.74 per cent to $3.21 billion in August, according to official data released on Tuesday.Bangladesh raked in $3.64 billion in the corresponding month of the calendar year 2017.The August earnings also fell short of target slightly by 0.60 per cent set...

Govt may allow vannamei variety shrimp cultivation

The government is considering giving permission to produce vannamei variety shrimp to help increase the export earnings from frozen fish sector, sources said.To this effect, a technical committee headed by Goljar Hossain, director general of Department of Fisheries (DoF) held its first meeting on Monday. It suggested for a feasibility...

FBCCI to fight for social welfare

The country's apex trade body on Monday pledged to work for the welfare of the society. It also promised to launch tough movement against abuse of drugs, eliminate child labour and create awareness on autism.The decisions of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) were made at...

Validus tops S$120m in business funding

Singapore-based lending platform Validus Capital (Validus) has surpassed over S$120 million in funding for local SMEs and businesses, according to a Media OutReach-forwarded statement received on Tuesday.Established in 2015, Validus offers access to financing from accredited individual and institutional lenders.The leading peer-to-business financing platform of Singapore has financed more than...

Ecnec approves 18 projects

The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved a project involving Tk 59.18 billion to ensure infrastructural development at 2,000 selected madrasahs across the country, reports UNB.The approval came from the weekly Ecnec meeting held at the NEC conference room in the city with Ecnec Chairperson...

Al-Arafah opens 162nd agent banking outlet

Al-Arafah Islami Bank Limited opened its 162nd Agent Outlet at Rasulpur Bazar, Debidwar, Comilla recently.Executive Vice President and Head of Agent Banking Division Alhajj Abed Ahmed Khan inaugurated the outlet as the chief guest. Manager of AIBL Kutibazar Branch Md. Rafiqul Islam, Manager Companigonj Branch Md. Neyamatullah, Ex-Chairman of Rasulpur...

15th International Micro Insurance Conference

Dirk Reinhard, Vice Chairman, Munich Re Foundation and Rubina Hamid, first vice president of Bangladesh Insurance Association (BIA) exchanging documents after signing a MoU on arranging 15th International Micro Insurance Conference to be held in Dhaka in late-2019. BIA vice president AKM Monirul Huq and managing director of Green Delta...

Chairman, SCB Md. Rezaul Karim handing over SCB Magazine to Krishnamurthy Gopalakrishnam

Chairman, Shippers' Council of Bangladesh (SCB) Md. Rezaul Karim handing over SCB Magazine to Krishnamurthy Gopalakrishnam, Assistant Vice President of Kale Logistics Solutions, a leading IT Solution Provider of Maharashtra (India) at SCB Conference Room on Tuesday. SCB Senior Vice Chairman Mr. Ariful Ahsan and Director Syed Md. Bakhtiar also...

'Forum 97 Development Society'

Chief Financial Officer of National Life Insurance (NLI) and president of 'Forum 97 Development Society' Prabir Chandra Das distributing relief materials among the river erosion-hit people of Naria and Jajira of Shariatpur district. NLI provided financial support in the programme.

Chinese cos go overseas to avoid US tariffs

BEIJING, Sept 11 (AFP): A growing number of Chinese companies are adopting a crafty way to evade US President Donald Trump's tariffs: remove the 'Made in China' label by shifting production to countries such as Vietnam, Serbia and Mexico.The world's two largest economies have been locked in a months-long trade...

Kaufhof, Karstadt to merge

BERLIN, Sept 11 (Reuters): Hudson's Bay Company and Signa Holding have agreed to merge Germany's two major department store chains, Galeria Kaufhof and Karstadt as they seek to respond to fierce competition from ecommerce players.Occupying prime locations in many major German cities, Kaufhof and Karstadt have fallen on hard times...

VW investors seek $11b damages over dieselgate scandal

BRAUNSCHWEIG, Germany, Sept 11 (Reuters): Volkswagen went on trial on Monday to face investors seeking €9.2 billion ($10.6 billion) in compensation, arguing the carmaker should have informed shareholders earlier about its diesel pollution scandal.Shareholders representing 1,670 claims are seeking compensation for a slide in Volkswagen's (VW) share price triggered by...

Benefit of rupee fall to vary across IT cos

NEW DELHI, Sept 11 (Reuters): Benefits from rupee depreciation to be different across Indian IT companies, with maximum positive impact on Tata Consultancy Services Ltd and Tech Mahindra Ltd among large caps and Persistent Systems Ltd among midcaps, said Macquarie Research.Macquarie upgraded Wipro Ltd and Hexaware Technologies Ltd to 'outperform';...