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

Non-life insurers can give maximum 15pc commission

The insurance regulator has asked the non-life insurance companies to strictly enforce maximum 15 per cent agent commission on their business procurement from next month (August). The Insurance Development and Regulatory Authority (IDRA) has issued a circular regarding the matter in the first week of this month to stop uneven...

BSCIC, millers wide apart over local demand for salt

The government agency BSCIC and the millers are wide apart over the national demand for key salt in the country.Bangladesh Small and Cottage Industries Corporation (BSCIC) estimated the country's demand for salt at about 1.65 million tonnes while Bangladesh Labon Mill Malik Samity claimed it to be around 2.4/2.5 million...

Govt decides to divide MRT-5 into two lines

Dhaka city will now have six metro-rail corridors instead of the previously designed five, as the government has decided to divide mass rapid transit (MRT)-5 line into two lines, sources said.Earlier, five metro-rail corridors - MRT-1, 2, 4, 5 and 6 - were proposed in the city's 20-year revised strategic...

News Briefs (20-07-2019)

China to invest $2.0m in Mongla EPZA Chinese company will invest US$ 2.0 million to establish a packaging manufacturing factory in Mongla Export Processing Zone. The Chinese company, Dongguan Bluebox Industries Bangladesh Limited, would produce annually 5.0 million pieces of jewelry box, watch box, gift box and packaging display. The...

Prof. Md. Nazmul Hassan

Prof. Md. Nazmul Hassan, Chairman of the Islami Bank Bangladesh Limited, at the Business Development Conference in Chattogram on Friday as the chief guest with Md. Mahbub ul Alam, Managing Director & CEO of the bank, presiding over the programme

G7 finance ministers agree to tackle digital tax challenges

CHANTILLY, July 19 (Reuters): G7 finance ministers agreed to address the tax challenges raised by the digital economy and push ahead with plans for a minimum corporate tax level, a draft of the chair's summary seen by Reuters said on Thursday."Ministers agreed that a minimum level of effective taxation, such...

Euro weakens as investors raise bets on imminent ECB rate cut

LONDON, July 19 (Reuters): The euro fell against a rebounding US dollar on Friday and hit a two-year low versus the Swiss franc, as investors ramped up bets for a European Central Bank (ECB) interest rate cut as early as next week.Money markets are now pricing in a roughly 60...

Britain's delay on Huawei 5G decision harming int'l ties: UK lawmakers

LONDON, July 19 (Reuters): Britain's new prime minister must urgently make a decision on the role China's Huawei will have in next-generation 5G networks as the ongoing debate is damaging international relations, a powerful committee of British lawmakers said on Friday.Britain has emerged as a key battleground in a geopolitical...

Sweden's Loomis finds failings in money laundering oversight

STOCKHOLM, July 19 (Reuters): Swedish cash-handling firm Loomis AB reported flaws in its anti-money laundering oversight on Friday and vowed to fix them.Loomis launched an investigation into its operations in May after a journalist alleged it was implicated in a Danish money laundering scandal involving foreign exchange agencies.Danish authorities convicted...

PBOC continues to inject liquidity into market

BEIJING, July 19 (Xinhua): The People's Bank of China (PBOC), the central bank, on Friday continued to pump cash into the financial system through open market operations to maintain liquidity in the market.The PBOC conducted 100 billion yuan (14.57 billion US dollars) of seven-day reverse repos, a liquidity-injecting process in...

Rupee rises 23 paise to 68.74 vs US dollar

MUMBAI, July 19 (PTI): The rupee appreciated by 23 paise to 68.74 against the US dollar in early trade Friday, as market participants pinned their hopes on aggressive interest cut by the US Federal Reserve later this month.Forex traders said rupee along with most Asian currencies were trading in the...