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

ICCB for commercial coal exploration to make power sector vibrant

Bangladesh should go for all-out commercial exploration of coal in the next five years to make the power sector, the backbone of the country's economy, sustainable and vibrant, said International Chamber of Commerce Bangladesh (ICCB). The generation of electricity in coal-fired power plants will be viable and much cheaper if...

Foreign banking software elbowing out local ones

Local banking software makers are gradually losing market to the rival foreign companies due to 'poor functionality' of their products although these are cheaper in cost, a BIBM research has revealed.About 45 banks used local software solutions before 2005. But the number has dropped to 19 by the end of...

Thrust on latest tech for RMG industry

Country representative of JETRO Daisuke Arai on Sunday said Bangladesh has not enough choice than to adopt latest production technology in the ready-made garment industry to be competitive in the global market.The global garment market has become dependent on issues like quality, price, environment and compliance which Bangladeshi companies have...

CCCI calls for withdrawal of VAT on port services

CHITTAGONG, Feb 25: President of Chittagong Chamber of Commerce and Industry Mahbubul Alam has urged the Chittagong Port Authority to withdraw the VAT (value added tax) imposed by the port authority on all kinds of its services considering its negative impact on the national economy.He made the request in a...

Focus on policy support for growth of agent banking

Appropriate policy support and necessary actions are required to give further impetus to agent banking services in the country, despite their significant growth since inception in 2014, according to a study.According to it, the services grew tremendously by 1,798.2 per cent in 2015 and 384.3 per cent in 2016 comparing...

GP launches 4G service in Rajshahi

RAJSHAHI, Feb-25: Grameenphone (GP) formally launched 4G service in Rajshahi city on Sunday.Head of Transformation of Grameenphone Kazi Mahboob Hasan, who inaugurated the 4G services of GP in Rajshahi city, made the announcement at a media briefing at a restaurant here.He said GP launched 4G (4th generation) service in some...

India's Choksi claims innocence in PNB fraud with open letter

MUMBAI, Feb 25 (Reuters): Mehul Choksi, one of two businessmen allegedly involved in perpetrating India's biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs.Choksi and his nephew Nirav Modi, both owners of...

Philippines central bank managing excessive volatility as peso trades at 11-year lows

MANILA, Feb 25 (Reuters): The Philippines central bank is selling its dollar reserves as a defensive measure to manage excessive volatility driven by speculation against the peso, which is hovering near 11-year lows, the bank's governor said on Sunday.The Bangko Sentral ng Pilipinas (BSP) chief sought to allay concern that...

Macron faces grilling from farmers at agricultural fair

PARIS, Feb 25 (AFP): President Emmanuel Macron has faced heckles and whistles from French farmers angry with reforms to their sector, as he arrived for France's annual agricultural fair.For over 12 hours, Macron listened and responded to critics' rebukes and questions - only to return home to the Elysee Palace...

Latvia calls emergency meet after third-largest bank fails

RIGA, Feb 25 (Reuters): Latvian authorities will gather for an emergency meeting on Monday following the failure of the country's third-largest bank, the prime minister said, as the country kept watch for any fallout on other banks.ABLV Bank is failing or likely to fail and will be wound up as...

NCC Bank Ltd. and Bangladesh Bank signs participatory agreement

Mosleh Uddin Ahmed, Managing Director and CEO of NCC Bank Ltd., and Md Rezaul Islam, GM and PD of FDIPP, FEID of Bangladesh Bank, signed a participatory agreement on JICA-assisted 'Foreign Direct Investment Promotion Project (FDIPP)' at the Bangladesh Bank head office in the city recently. Bangladesh Bank Governor Fazle...

Business Meet-2018 of Bank Asia Ltd

The Business Meet-2018 of Bank Asia Ltd was held at a hotel in Dhaka on Saturday, with A Rouf Chowdhury, Chairman of the bank, as the chief guest. President and Managing Director Md Arfan Ali was also present.

AG Motors has launchs Peugeot prestigious French car brand

AG Motors has launched Peugeot, the prestigious French car brand, and inaugurated its outlet at Tejgaon in Dhaka recently. French Ambassador Marie-Annick Bourdin was present as the chief guest.

MoneyGram, DBS Bank launch SMS-based remittance

MoneyGram, a global innovative money transfer platform and payment services provider, announced that the Singapore customers of DBS, a leading financial services group in Asia, can transfer money to Bangladesh directly from their bank account via jolly app (SMS banking widget).The service enables customers to send money anytime, anywhere with...

China's soybean imports from US fall 14pc in Jan

BRASILIA, Feb 25 (Reuters): China's imports of soybeans from the United States (US) in January fell 14 per cent from the same month a year ago, customs data showed, as Brazil grabbed a larger slice of the world's biggest market for the oilseed with higher-protein beans.According to customs data released...