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

Mobile banking faces bump in Aug

Transactions through mobile financial services (MFS) dropped by more than 34 per cent in August as people resumed normal banking despite the Covid-19 pandemic.The expiry of the tenure of the stimulus package for the payments of salary of the workers of export-oriented readymade garment (RMG) sector also pushed down such...

SydneySun signs lease agreement with Summit Technopolis

SydneySun with technology-partner Dahua of China, will be investing $5.0 million at Summit Technopolis to build and operate a manufacturing and video surveillance assembly plant at the Block II of Bangabandhu Hi-Tech City in Kaliakoir, Gazipur.Managing Director of Summit Technopolis Abu Reza Khan and Managing Director of SydneySun Sagor Kumar...

IBBL organises webinar on Shari'ah compliance

Agrabad Corporate Branch and Khatungonj Corporate Branch of Islami Bank Bangladesh Limited (IBBL) has jointly organised a webinar on "Compliance of Shari'ah in Banking Sector" recently.Maj General (Rtd) Engr Abdul Matin, chairman of Risk Management Committee of IBBL, addressed the programme as the chief guest while Muhammad Qaisar Ali, additional...

BSCIC to profile successful entrepreneurs

The government has taken an initiative to profile successful entrepreneurs who began their businesses first from the BSCIC industrial estates. They said the Bangladesh Small and Cottage Industries Corporation (BSCIC) has already started compiling the profiles that aims to encourage new entrepreneurs so that they can follow the footprints of...

Industries Ministry adopts zero tolerance policy against corruption

Industries Minister Nurul Majid Mahmud Humayun said his ministry has adopted a zero tolerance policy against any kind of corruption and irregularities, reports BSS."The Ministry of Industries has a positive attitude towards objective news published in the media. There will be no change in our attitude," he said.The minister said...

Rupali Bank gets new DMD

Mohammad Jahangir has been appointed Deputy Managing Director in Rupali Bank Ltd. Before joining as Deputy Managing Director of Rupali Bank Limited, he served in Rupali Bank Ltd as General Manager in Dhaka south and Divisional office, Chattogram. Mohammad Jahangir joined Rupali Bank Limited as Officer in 1990. He held...

Tareq new DMD of BRAC Bank

BRAC Bank Limited has appointed Tareq Refat Ullah Khan as its new Deputy Managing Director (DMD), said a press release.Before his new assignment, he was Head of Corporate Banking of the bank.Tareq has more than two decades of diverse banking experience in risk management, commercial and corporate banking, international trade,...

Trump, Biden offer clashing visions for economy

WASHINGTON, Oct 05 (Arab News): One US presidential candidate wants to raise taxes, the other lower them. One will pursue an ongoing trade war, the other may throttle back tensions. And neither will get much done without Congress' approval.The proposed economic policies of President Donald Trump and Democratic challenger Joe...

Citigroup backs fintech company Genesis

LONDON, Oct 05 (Reuters): Citigroup Inc has made a strategic investment in Genesis Global Technology Limited, a London-based startup that develops technology to make it cheaper and faster for financial firms to build applications such as trading systems, the companies said on Monday.The companies did not disclose the amount and...

Saudi-Bahrain trade returns to pre-pandemic levels, witnesses hike

JEDDAH, Oct 05 (Arab News): Trade between Saudi Arabia and Bahrain has returned to the pre-pandemic levels with new figures revealing $1.48 billion in bilateral trade during the first half of the year.In the first six months of 2020, the figures were up 2 per cent from the same period...

Oman banks on SMEs, tourism to revive economy

DUBAI, Oct 05 (Arab News): Oman is banking on its non-oil sectors, including small-to-medium enterprises and tourism, to revive the local economy, national daily Times of Oman has reported.The Oman Chamber of Commerce and Industry has predicted a 2.5 per cent economic growth next year."We feel that by next year...

Microsoft to build hub for cloud services in Greece

ATHENS, Oct 05 (Reuters): Microsoft Corp is to build a new data centre in Greece as it invests in cloud services infrastructure in the country, a boon to an economy weakened by a decade-long debt crisis and the coronavirus pandemic.Speaking at a virtual event in Athens on Monday, Microsoft President...