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

RMG factories start using 'jhut' to run boilers

The country's readymade garment (RMG) factories have started using cutting wastes, popularly known as jhut, to run boilers amid short supply of natural gas - presently the main energy source for the boilers.This new technology is being used, though in a limited scale, also to cut the cost of fuel,...

Gas price hike to cast negative impact on industry, employment

Leaders of a trade body on Monday expressed concern over the possible impact of gas price hike, urging the government to frame a long-term pricing policy for the primary energies like gas and oil.The price hike of gas is more likely to cast a negative impact on industrialisation, investment and...

Winners of Ispahani-Drishty Business Idea Competition

The winners of Ispahani-Drishty Business Idea Competition posing with prizes at a function held in Chattogram recently. Presided over by the President of Drishty Chittagong Masud Bakul, the function was attended by artist Afzal Hossain, educationist Safia Gazi Rahman and Chief Operating Officer of Ispahani Tea Limited Shantanu Biswas were,...

Turkey delegates show interest to import medicine from Bangladesh

A visiting health and business delegation of Turkey has expressed interest in importing medicines from Bangladesh, says a statement.The high level health-business delegation, led by President of Turkish Medicines & Medical Devices Agency (TMMDA) Md Hakki Gursoz, conveyed the eagerness of the Euro Asian country to import medicine from Bangladesh...

ICMAB CBC elects new office-bearers

A meeting of Chittagong Branch Council of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) was held at CMA Bhaban at Agrabad in Chattogram city recently, says a statement.The council unanimously elected Md. Moazzam Haider, FCMA, as the chairman and Shahidul Hoque, ACMA, as the secretary of the...

South Korea wants to invest in BD

South Korean companies are interested to invest in different sectors of Bangladesh, said South Korean Ambassador in Dhaka Hu Kang-il, reports BSS."Samsung, SK, Hyundai and few other companies are eager to invest here, and their delegations would visit Bangladesh and discuss regarding businesses and others related issues," said the South...

Japan faces recession risks

TOKYO, Apr 08 (Reuters): Japan appears to have dodged a recession thanks to resilient business spending but tanking factory and export sectors and a lack of policy options leave it particularly vulnerable if a projected recovery in the global economy fails to materialise.If domestic growth crumbles, Prime Minister Shinzo Abe...

‘Europe must lead the way in digital tax’

PARIS, Apr 08 (Reuters): Europe needs to decide on a digital tax and should lead the way if there is insufficient consensus globally, Competition Commissioner of European Union Margrethe Vestager said on Monday.There is still disagreement among EU members over how to implement a so-called "GAFA tax" - named after...

No breakthrough expected in EU-China summit

BRUSSELS, Apr 08 (AFP): Top EU leaders meet Chinese Premier Li Keqiang this week at a summit in Brussels, but their hopes of winning solid commitments on trade look set for disappointment.Brussels is trying to beef up its approach to the Asian giant as it shows little willingness to listen...

Ambani sets out to change face of Indian cities

The new ace up Mukesh Ambani’s sleeves may be about to reveal itself. And it could well be the urban infra game changer India was waiting for, reports The Economic Times on Monday.Mukesh Dhirubhai Ambani, an Indian business magnate, chairman and managing director, and the largest shareholder of Reliance Industries...

Jaguar Land Rover shutdowns its UK plants over Brexit

LONDON, Apr 08 (Reuters): Jaguar Land Rover (JLR) shuts its UK plants on Monday for five days over Brexit, adding to other shutdowns to leave at least half the country's car production off-line in what could be a pivotal week for Britain's divorce from the EU.The move by Britain's biggest...

EU fines GE $58m over misleading Danish deal

BRUSSELS, Apr 08 (Reuters): EU antitrust regulators on Monday fined US conglomerate General Electric 52 million euros ($58.4 million) for providing misleading information in its takeover of Danish rotor blade maker LM Wind two years ago.GE told the European Commission that it was not developing any other turbine apart from...

SoftBank-backed Grab seeks $2.0b funding in drive

SINGAPORE, Apr 08 (Reuters): Grab is looking to raise another $2 billion this year to ramp up expansion, its CEO Anthony Tan told Reuters, just weeks after announcing over $4.5 billion of funding in what has become Southeast Asia's largest round of private financing.The mega funding comes as Grab rolls...

ECB to hold course as threats to growth linger

FRANKFURT, Apr 08 (AFP): The European Central Bank (ECB) will hint Wednesday at moves to support the eurozone economy but stop short of new action, analysts expect, as the Frankfurt institution eyes lingering political risks.Policymakers took the unexpectedly aggressive step in March of announcing a new tranche of cheap loans...