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

Bangladesh gains from shift in US travel goods sourcing

High production costs in China and trade redirection driven by US high tariffs have encouraged American buyers to increasingly diversify their sourcing of travel goods to other destinations like Bangladesh, insiders said. They added that a couple of companies are expanding their existing capacity to capitalise on the shifting opportunities,...

Uber launches hybrid subscription model for bike drivers in BD

Ridesharing app Uber on Wednesday announced the launch of a hybrid subscription model for its Uber Bike drivers in Bangladesh, offering greater flexibility in how they access trips and earn on the platform. The new model provides drivers with the option to choose a subscription format that works best for...

Ctg Port handles 54,898 TEU containers during Eid holidays

CHATTOGRAM, Mar 25: A total of 54,898 TEUs of containers were handled at Chittagong port during the Eid holidays from March 17 to 23. Of these, 28,961 TEUs were imported and 25,937 were exported. The highest number of 11,861 containers was processed on March 18. The port handled more than...

Western powers failed to secure Red Sea shipping; Hormuz poses tougher challenge

The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen's Houthis, reports Reuters.The costly Red Sea experience - four...

Islami Bank Foundation celebrates Independence Day

Islami Bank Foundation (IBF) has celebrated Independence Day by holding various programmes. To mark the day, a discussion and a prayer session were held at the auditorium of the IBF's head office on Wednesday. Mohammad Ali, Executive Director (Acting) of IBF, spoke as the chief guest and DGM Mohammad Jasimuddin...

India buys first Iran LPG cargo in years after US eases sanctions

NEW DELHI, Mar 25 (Reuters): India has bought its first cargo of Iranian liquefied petroleum gas in years after the US temporarily removed sanctions on Tehran's oil and refined fuels, LSG trade flows and three industry sources said.India had shunned energy purchases from Iran in 2019 under pressure from Western...

BlackRock CEO warns of 'global recession' if oil goes to $150

NEW YORK, Mar 25 (Reuters): BlackRock CEO Larry Fink said oil prices could reach $150 a barrel and cause a "global recession" if Iran "remains a threat" even after the war ends."If there is a cessation of war, and yet Iran remains a threat, a threat to trade, a threat...

US import prices post largest gain in four years as energy costs soar

WASHINGTON, Mar 25 (Reuters): US import prices increased by the most in nearly four years in February as energy costs surged in anticipation of conflict in the Middle East, adding to signs that inflation is poised to accelerate in the months ahead.Import prices jumped 1.3 per cent last month, the...

Kingdom Holding sees profit jump 73pc

RIYADH, Mar 25 (Arab News): Kingdom Holding Co., the developer behind what is set to become the world's tallest building - Jeddah Tower - reported a 73 per cent jump in annual profit driven by investment gains and rising portfolio valuations. Net profit attributable to shareholders rose to SR2.14 billion...

Waterway plans to launch a real estate fund exceeding $190m

LONDON, Mar 25 (Arab News): Egypt's The Waterway Developments plans to establish a real estate investment fund worth 10 billion Egyptian pounds ($190.2 million) in the first half of this year to help finance its project spending, CEO Hossam Hassan told Asharq.The planned fund will be backed by income-generating real...

Saudi Arabia launches Bahrain shipping link as Gulf routes face war turmoil

RIYADH, Mar 25 (Arab News): Saudi Ports Authority has launched a new maritime link with Bahrain via MSC's Gulf Shuttle service, as regional shipping routes come under strain from escalating conflict between the US, Israel and Iran. The service connects King Abdulaziz Port with Khalifa Bin Salman Port, offering capacity...

US researchers bet on hybrid, GMO seeds to make wheat profitable again

MANHATTAN, Mar 25 (Reuters): Inside a locked chamber the size of a walk-in freezer in Manhattan, Kansas, a few dozen wheat plants growing under bright LED lights are being genetically modified with a sunflower gene to resist drought.Some 20 miles away, at a research centre in Junction City, scientists are...

US company CFOs saw a solid economic outlook, at least until war broke out, Fed survey shows

WASHINGTON, March 25 (Reuters): US corporate finance chiefs' outlook for the economy improved over the first months of the year, at least until the outbreak of the US-Israeli war on Iran, with executives expecting to increase employment amid solid revenue growth, though with continued pressure as well to raise prices,...

Trump names Nvidia, Meta CEOs to science and tech council

U.S. President Donald Trump appointed Meta Platforms CEO Mark Zuckerberg, Oracle Executive Chairman Larry Ellison and Nvidia CEO Jensen Huang to a council that will weigh in on AI policy and other issues, the White House said on Wednesday, reports Reuters.Google co-founder Sergey Brin and AMD CEO Lisa Su are...

China says it has right to retaliate against Mexico's tariff hikes

BEIJING, March 25 (Reuters): China said on Wednesday that Mexico's trade measures against it, including tariff increases, constitute trade and investment barriers and that it had the right to take countermeasures.The import duty hikes affect more than $30 billion worth of Chinese exports to Mexico, and could lead to estimated...