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

BB asks banks to target bond market as source of fund

The central bank has asked non-bank financial institutions (NBFIs) to create alternative sources of fund through boosting the bond market in Bangladesh.The advice was made at a meeting with chief executive officers (CEOs) and managing directors (MDs) of NBFIs at the Bangladesh Bank (BB) headquarters in Dhaka on Tuesday with...

No VAT on pharma, petroleum products at consumers' end

The manufacturers of pharmaceutical products and suppliers of petroleum products have to pay VAT at 2.4 per cent and 2.0 per cent respectively following introduction of a VAT-inclusive calculation method by the National Board of Revenue (NBR).The retail prices of these two types of products at the consumers' level will...

Bangladesh invents green throw-away bags from jute

As countries around the world try to cut down on throw-away plastic shopping bags, Bangladesh is hoping to cash in on an alternative: plastic-like bags made from jute, the plant fibre used to produce burlap bags, says a report of the Thomson Reuters Foundation.Bangladesh is the world's second biggest producer...

BSCIC gets new secretary

Mustak Ahmed on Monday joined as Secretary of the Bangladesh Small & Cottage Industries (BSCIC), says a statement.Mustak is a Deputy Secretary of Bangladesh government. He was Assistant Commissioner (Land), Upazila Nirbahi Officer (UNO), Divisional Estate Officer of Bangladesh Railway, Additional Deputy Commissioner, Deputy Director (Local Government), and Zonal Settlement...

Gold, platinum prices up by Tk 100 per gram

The local jewellers have increased the prices of platinum and three categories of gold equally.The prices have been increased by Tk 100 on each gram of 23 carat of platinum, and 22, 21 and 18 carat of gold, effective from today (Wednesday), according to a press release issued by Bangladesh...

Mahmudur Rab and Nazmul Karim Siddique shaking hands

Company Secretary of Titas Gas T&D Company Ltd. Mahmudur Rab and Head of Marketing & Public Relations of Bangladesh Commerce Bank Nazmul Karim Siddique shaking hands after signing a deal on online gas bill collection in the city recently

IMF downgrades world growth, warns of ‘precarious’ 2020

WASHINGTON, July 23 (AFP): Global trade tensions and continued uncertainty are sapping the strength of the world economy, which faces a "precarious" 2020, the International Monetary Fund (IMF) warned on Tuesday.Trade conflicts are undercutting investment, and the IMF urged countries not to use tariffs in place of negotiations.In its quarterly...

Eurozone banks tightening credit taps: ECB

FRANKFURT AM MAIN, July 23 (AFP): Eurozone banks are tightening the criteria firms and households must meet to be granted loans, the European Central Bank said Tuesday, as policymakers weigh their response to stuttering growth.Lenders upped their requirements of business borrowers and households seeking consumer credit between April and June,...

Carmakers drive Europe higher

LONDON, July 23 (Reuters): A wave of central bank easing and positive soundings from the earnings season buoyed world stocks on Tuesday, while Britain's pound fell before the expected confirmation of hard-Brexit advocate Boris Johnson as the country's prime minister.Corporate results from oil bellwether Halliburton, Swiss bank UBS and Apple...

Huawei head says group can sign 'no backdoor' deal with any country

SHENZHEN, July 23 (Reuters): Huawei Technologies, the Chinese technology and telecoms group under pressure from the United States, is ready to sign a "no backdoor" agreement with any country, its founder told an Italian newspaper on Tuesday."As far as we are concerned we can sign a 'no-backdoor' agreement with any...

Trump, Democrats reach two-year budget deal that raises debt ceiling

WASHINGTON, July 23 (AFP): US President Donald Trump said Monday that a "compromise" bipartisan budget agreement has been reached that will boost federal spending by $320 billion and suspend the debt limit beyond the next presidential election. The deal, should it pass Congress as expected, would allow the federal government...