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

Microcredit firms reduce foreign aid dependence

Local microfinance institutions (MFIs) have been increasingly relying on clients' savings and their own surplus funds for operating expenses over the years, according to data, demonstrating an impressive shift from heavy foreign funding dependence.In FY23, more than 70 per cent of MFI funds, totalling around Tk 1,620 billion, came from...

BGMEA members demand dissolution of current board

A group of BGMEA members on Wednesday expressed their no-confidence in the existing board of directors due to their controversial roles during the recent quota-reforms movement of the students.In a memorandum, they claimed that the president of the current board, S M Mannan Kochi, opened fire on students during their...

Higher water level at Kaptai lake boosts power generation

The elevated water levels in Kaptai Lake this monsoon season have boosted power generation at the Kaptai Hydroelectric Power Station.The plant is currently generating between 200 and 205 megawatts (MW) of electricity a day, the highest power output recorded at the station this year.Heavy rainfall and inflows from upstream sources...

Bengal Commercial Bank holds 4th AGM

Bengal Commercial Bank held its 4th Annual General Meeting (AGM) at a hotel in Dhaka recently. Md. Jashim Uddin, Chairman of the Board of the bank, presided over the meeting. Mahbubul Alam and Ghulam Mohammed Alomgir, Vice Chairmen of the bank, joined the meeting along with other directors and sponsor-shareholders....

Linde Bangladesh holds 51st AGM

The 51st Annual General Meeting (AGM) of the company was held virtually on Wednesday in compliance with all the applicable circulars issued by the regulatory authorities. Moloy Banerjee, Chairman of the company, presided over the meeting. Rupali H Chowdhury, Tanjib-Ul Alam, Abhijit Banerjee and Bibhabasu Sengupta, Directors of the company,...

Uber's second-quarter results beat on ride-sharing demand

Uber's second-quarter results beat Wall Street estimates on the back of steady demand for its ride-sharing and food-delivery services, sending the company's shares up 5 per cent on Tuesday, reports Reuters.With more people returning to offices and stepping out of their homes, ride-sharing demand has got a boost in the...

Shopify beats Q2 revenue estimates

Shopify beat analysts' estimates for second-quarter revenue and forecast an upbeat current quarter as its e-commerce services attracted more merchants following the launch of AI-enabled tools, reports Reuters.Shopify reported a 21 per cent jump in second-quarter revenue to $2.05 billion, compared with analysts' average estimate of $2.01 billion, according to...

BoJ deputy governor plays down chance of near-term rate hike, yen slumps

HAKODATE (Japan), Aug 07 (Reuters): The Bank of Japan's (BoJ) influential deputy governor said on Wednesday the central bank will not hike interest rates when markets are unstable, playing down the chance of a near-term hike in borrowing costs.The remarks by Shinichi Uchida, which contrasted with Governor Kazuo Ueda's hawkish...

German exports plunge but factory output up

FRANKFURT, Aug 07 (AFP): German exports unexpectedly registered a sharp drop in June but industrial production rose, official data showed Wednesday, as Europe's biggest economy struggles to emerge from a weak period.Exports dropped 3.4 per cent from the previous month and stood at 127.7 billion euros ($139.3 billion), federal statistics...

China notches steady export growth as imports surge

BEIJING, Aug 07 (AFP): China's exports grew slightly slower than expected in July while imports surged, official figures showed Wednesday, as the world's second-largest economy charts an uneven recovery.Overseas shipments expanded 7.0 per cent on-year last month, according to China's General Administration of Customs.That compares with the 8.6 per cent...

Evergrande liquidators file lawsuit against PwC in Hong Kong

HONG KONG, Aug 07 (AFP): Liquidators for China's Evergrande have filed a lawsuit against PwC in Hong Kong for its role in auditing the debt-ridden real estate behemoth, according to a report Wednesday by Bloomberg News.The lawsuit is part of an ongoing effort to recover creditors' investments after a Hong...

Dubai airport traffic sets new half-year record

DUBAI, Aug 07 (AFP): Passenger traffic at Dubai International Airport, the world's busiest for international travellers, reached a record 44.9 million in the first half of the year, its operator said on Wednesday.The figure marked an eight per cent increase from 41.6 million passengers in the same period of 2023,...

India's Tata Power beats Q1 profit view

BENGALURU, Aug 7 (Reuters): India's Tata Power beat first-quarter profit estimates on Tuesday, helped by strong energy demand on the back of strong industrial activity and extreme heat conditions.The company reported a consolidated profit of 9.71 billion rupees ($116 million) in April-June period. Analysts were, on average, expecting a profit...