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

Middlemen thrive on recruiting agencies' gap with migrants

The country's overseas job seekers are heavily dependent on middlemen in every stage of their migration process in the absence of easy access to the services rendered by the government and the authorised private recruiting agencies, rights activists said at a seminar Wednesday.They also said the government's initiatives to reduce...

Graft, selection imbroglio impede PPP projects

A study of the Bangladesh Institute of Bank Management (BIBM) has identified a number of factors including selection of appropriate projects, unusual cost and corruption as key impediments toward implementation of Public-Private Partnership (PPP) projects.Other barriers include non-completion of projects within the stipulated time, inadequate feasibility study, lack of monitoring...

RAKUB recovers Tk 1.79 billion outstanding loans

RAJSHAHI, Dec 20 (BSS): Rajshahi Krishi Unnayan Bank (RAKUB) has recovered outstanding loans worth Tk 1.79 billion (Tk 179 crore), including classified loan of Tk 290 million (Tk 29 crore), through its Victory Fair (Bijoy Mala).The bank arranged the two-day fair in all its 378 branches from Dec 17 to...

Some more areas to come under consumers rights law

The process is now at the final stage to amend the existing Consumers Right Protection Act 2009 bringing some more some areas of business under it, officials said.The areas are laundry, tailoring, beauty parlour, courier and Hajj services.The Directorate of National Consumer Rights Protection (DNCRP) has prepared the draft amendment...

MoRTB seeks Tk 5.0b from MoF to make metro-rail co functional

The Ministry of Road Transport and Bridges (MoRTB) has finally sought Tk 5.0 billion from the Ministry of Finance (MoF) to make the state-owned metro-rail company functional amid pressure from the project's financier.Sources said MoRTB informed the mission of Japan International Cooperation Agency (JICA) during a wrap-up meeting on Sunday...

ICAB inks deal with IFRS Foundation for data supply

The Institute of Chartered Accountants of Bangladesh (ICAB) signed an agreement with IFRS Foundation for supply of data for adoption and publication of IFRS and IFRS for SMEs (for both print and electronic format) in the capital recently, says a statement.Chairman of International Accounting Standards Board (IASB) Hans Hoogervorst inked...

Biman earns Tk 1.51b profit

Biman Bangladesh Airlines earned Tk 1.51 billion in profit for the third consecutive year during the fiscal year 2016-17 although its net profit and cargo handling dropped for paying deferred tax and cargo restriction by the United Kingdom.According to a press release of Biman issued on Wednesday, the profit earned...

Promote responsible tourism: Menon

Civil Aviation and Tourism Minister Rashed Khan Menon has urged all stakeholders to sensitise people about responsible tourism for ensuring sustainability of the country's tourist places, especially nature sensitive spots like Saint Martin's Island, Ratargul and Bisanakandi.He made the call while exchanging views with different transport owners and other tourism...

Md Fakrul Alam new DMD of Janata Bank

Mohammad Fakrul Alam was appointed as Deputy Managing Director (DMD) of Janata Bank Limited on Tuesday, says a statement.Before his promotion, he served as general manager at the same bank.Fakrul Alam hails from Mirzapur under Birol upazila of Dinajpur district. He passed HSC from Dinajpur Government College and obtained BSc...

News Briefs- (21-12-2017)

DIFE wins accolade for e-filing The Department of Inspection for Factory and Establishments (DIFE) has won accolade from the Ministry of Labour and Employment (MoLE) for its achievement in electronic filing (E-filing) management. Secretary in charge of the MoLE Afroza Khan handed over a crest to the DIFE inspector general...

China's economic growth will slow next year: State think tank

BEIJING, Dec 20 (AFP): China's economy will have shown improvement this year but slow slightly in 2018, a top state think tank forecast on Wednesday, with government investment seen easing as leaders look to recalibrate the country's growth dynamic. But while the Chinese Academy of Social Sciences (CASS) estimate was...

Sikder Insurance Ltd gets CEO

Insurance Development and Regulatory Authority (IDRA) has recently approved appointment of Md Aminur Rahman as Chief Executive Officer (CEO) of Sikder Insurance Company Limited, says a statement.Earlier, Rahman served as a managing director and CEO at Mercantile Insurance Company Limited. After obtaining Masters degree in Philosophy, he started his career...

Bitcoin suffers dramatic price plunge in Asia

TOKYO, Dec 20 (AFP): Bitcoin prices plunged about 15 per cent in Asian trade Wednesday before recouping some of the losses as investors apparently took fright at news that a South Korean exchange had been hacked. The unit, which hit a record $19,500 at the start of the week, took...

EU court rules Uber as transport service

LUXEMBOURG, Dec 20 (Reuters): Uber should be classified as a transport service and regulated like other taxi operators, the European Union's top court said in a landmark ruling on Wednesday that could impact other online businesses in Europe.Uber, which allows passengers to summon a ride through an app on their...

Greek parliament approves 'final bailout' budget

ATHENS, Dec 20 (AFP): Greece's parliament on Tuesday approved the 2018 budget, described by the government as the last under the country's multi-billion bailout, which nominally ends in August. "After eight years...this is the final bailout budget parliament is called to approve. We leave behind a period nobody will want...