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

Overhauling legal framework crucial to cutting troubled loans: Experts

Reforming the legal framework is essential for reducing the non-performing loan (NPL) as it is increasingly becoming a matter of concern for the banking sector, said experts."There are some borrowers who become defaulters willfully. They try to take the advantage of the weakness of the law. Bangladesh's 'Artha Rin Adalat...

BKMEA stresses inclusive policy for knit sector dev

An inclusive and equality-based based policy is essential for the further development of the country's knitwear sector, BKMEA leaders said Friday.They also said dialogue with all stakeholders of the sector is crucial to identifying and providing solution to the challenges.Leaders of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) came...

Rice prices remain stable in city mkts

The prices of different varieties of rice remained stable in the city's kitchen markets on Friday. The government has taken various steps including import of rice, crackdown on illegal hoarding and cut in import duty on rice aiming to keep rice prices stable in the local markets. But there is...

Govt takes up projects to boost milk production

The government is going to take nine projects aiming to develop the country's dairy industry and increase the productivity of dairy cattle, thus boosting milk production as demand grows, officials said.The Department of Livestock Services has formulated the project proposals and sent those to the Ministry of Fisheries and Livestock...

Inequality in focus as 75pc economies see upswing

LONDON, Oct 6 (Reuters): When Christine Lagarde, the International Monetary Fund's no-nonsense boss, spoke to Harvard University this past week, she had some good news: nearly 75 per cent of the world is experiencing an economic upswing. Why, then, was her speech given the somewhat bearish title "A Time to...

Hurricanes Harvey, Irma sink US payrolls in Sept

WASHINGTON, Oct 6 (Reuters): US employment fell in September for the first time in seven years as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring, the latest indication that the storms undercut economic activity in the third quarter. The Labor Department said on Friday nonfarm payrolls...

Russia says Greek ruling on bitcoin fraud suspect illegal

MOSCOW, Oct 6 (Reuters): Russia said on Friday a decision by a Greek court to clear the way for a suspected Russian money launderer to be extradited to the United States was a violation of international law. Russia has also lodged an extradition request and its Foreign Ministry said on...

Tesco accountant testifies in court

LONDON, Oct 6 (Reuters): The head of Tesco's UK business was read out "almost word by word" a report detailing a 250 million pounds ($327 million) hole in the supermarket's accounts in 2014 a week before the stock market was informed, a court heard on Friday. Amit Soni, a senior...

French growth to hit six-year high in 2017

PARIS, Oct. 6 (Xinhua): After a spluttering performance, France, Eurozone's second major power, will see its economy expand by 1.8 per cent in 2017, the highest performance since 2011, thanks to rising investments and consumer spending, according to data released Thursday by Insee, the national statistics institute. This is a...

Dollar jumps as rising wages stoke inflation expectations

NEW YORK, Oct 6 (Reuters): The dollar jumped to more than two-month highs against the yen and seven-week highs against the euro on Friday after the government's jobs report for September showed rising wages. Average hourly earnings increased 12 cents or 0.5 per cent in September after rising 0.2 per...

Pope tells web cos to use profits on child protection

VATICAN CITY, Oct 9 (Reuters): Pope Francis told executives of leading internet companies on Friday to use "their great profits" to defend children from sexual exploitation and other dangers lurking online. The pontiff, speaking at a conference in Rome, said the Catholic Church needed to accept responsibility "before God, victims...

Big fall in British car sales as Brexit fears weigh on market

LONDON, Oct 6 (Xinhua): The number of new cars sold in Britain has fallen drastically due to uncertainty over Brexit and fears in the car finance market that easy credit might be fueling a credit bubble.The Society of Motor Manufacturers and Traders (SMMT) reported that new UK car registrations suffered...

News Briefs (7-10-2017)

BRAC opens first Kumon centreThe first centre in the country to facilitate learning in Kumon method, a comprehensive learning technique introduced by Japanese math teacher Toru Kumon, opened recently in Bangladesh. Sir Fazle Hasan Abed, founder and chairperson of development organisation BRAC, was present as the chief guest at the...

Founder and chairperson of BRAC Sir Fazle Hasan Abed speaking

Founder and chairperson of BRAC Sir Fazle Hasan Abed speaking at the opening ceremony of BRAC-Kumon centre recently in Dhaka

The 61st meeting of the executive committee of Modhumoti Bank Limited

The 61st meeting of the executive committee of Modhumoti Bank Limited was held on Thursday. The meeting was presided over by EC chairman Sheikh Fazle Noor Taposh.