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

Muhith seeks detail on dividend payments

Finance Minister AMA Muhith has sought details on the payment of dividends by 10 state-owned entities in the one decade from 2009.The government expressed resentment over the poor dividend payments to the state coffers, a senior official of finance division said.Finance ministry asked different line ministries to take prompt action...

Govt yet to get full benefits from Savar ETP

Industries Minister Amir Hossain Amu has said the Effluent Treatment Plant (ETP) in Savar tannery estate has not been fully functional till date mainly due to fault by Chinese contractors. "We are yet to get full benefits from the ETP, which got troubled due to Chinese contractor's fault," said the...

Dhaka, Colombo to sign coastal shipping deal

Bangladesh and Sri Lanka will sign coastal shipping agreement shortly, according to a Daily Mirror report.Sri Lankan Development Strategies and International Trade Minister Malik Samarawickrama told a recent forum in Colombo that the two countries had already finalised the much awaited agreement, said the Sri Lanka-based newspaper.The agreement will allow...

Indian co wins order worth Rs 14.9b in BD power line

KEC International, an RPG Group company, has won a new turnkey order worth Rs 14.96 billion (1,496 crore) transmission and distribution (T&D) business in Bangladesh, according to a report by India-based The Business Line. The order is for the design, supply and installation of the 400 kV Meghnaghat-Madunaghat double circuit...

Govt sets target to export $5.0b ICT products by 2021

The government has developed 32,000 skilled manpower in the ICT sector in the last five years to address the shortage of skilled workforce in the information and communications technology industry, experts said, reports BSS.They said the government has set a target of exporting ICT products worth US $5.0 billion by...

Euro sticks near seven-week low

LONDON, Oct 09 (Reuters): The euro languished near a seven-week low on Tuesday as concerns about a row in the European Union over Italy's budget persisted.The euro has tended not to budge in response to spikes in Italian bond yields triggered by developments in the dispute, with investors judging that...

Uniqlo owner to invest $885m in warehouse automation

TOKYO, Oct 09 (Reuters): Japan's Fast Retailing, the owner of popular clothing retail chain Uniqlo, said it would expand its partnership with logistics firm Daifuku and invest 100 billion yen ($885 million) to automate its warehouse and distribution system.Automating its Ariake distribution centre on Tokyo's waterfront with Daifuku's aid has...

Indian rupee falls to 74.28 per dollar

MUMBAI, Oct 09 (Reuters): The Indian rupee dropped to a record low on Tuesday afternoon with weakness in domestic shares and some Asian peers weighing on sentiment.Traders said there was also some importer demand seen in afternoon trade, but intermittent dollar selling by the central bank is likely to prevent...

IMF cuts global growth forecast

WASHINGTON, Oct 09 (AFP): An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund (IMF) to cut its forecast for world growth for this year and next.With trade growth set to slow sharply amid a trade war between the United States...

German firms 'would face huge tariffs' in hard Brexit

BERLIN, Oct 09 (Reuters): A hard Brexit would result in extra tariffs of more than 3.0 billion euros ($3.4 billion) for German companies per year, a German institute said on Tuesday, and German exports to Britain might drop by up to 57 per cent.Talks on ending four decades of Britain's...

Similarities could alter customer reactions

Similarities could alter customers' reactions to service failure, irrespective of whether it is any name, hometown or personal characteristic, a study finds.It has significant implications for consumers' feedback about online reviews which play a major part in shopping experiences nowadays, according to a Media OutReach-forwarded statement on Tuesday. The study...

US exempts Austrian steelmaker's tariffs

VIENNA, Oct 09 (Reuters): The United States has granted more than half of the exemptions to its steel import tariffs that Austrian steelmaker Voestalpine and its customers applied for, the company said on Tuesday.Washington in May announced tariffs of 25 per cent on steel imports and 10 per cent on...

BGMEA president Siddiqur Rahman greets Prime Minister Sheikh Hasina with a bouquet

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Siddiqur Rahman greets Prime Minister Sheikh Hasina with a bouquet on her achieving the 'IPS International Achievement Award' and the '2018 Special Distinction Award for Leadership' recently. FBCCI president Md Shafiul Islam (Mohiuddin), former BGMEA president Md Atiqul Islam, vice-president SM Mannan...

"Conceptual Outline on Money Laundering Prevention Tools & Techniques"

Mati Ul Hasan (2nd from left), AMD, Chief Risk Officer (CRO) & CAMLCO of Mercantile Bank Ltd and Javed Tariq (extreme left), Principal of Mercantile Bank Training Institute seen in the opening session of a day-long training course titled "Conceptual Outline on Money Laundering Prevention Tools & Techniques"

Omar Farooque, Managing Director of Union Bank Limited, inaugurating the Dinajpur Branch

Omar Farooque, Managing Director of Union Bank Limited, inaugurating the Dinajpur Branch as the chief guest on Monday. Hasan Iqbal, Deputy Managing Director and Suzaur Rob Chowdhury, President, Dinajpur Chamber of Commerce & Industry, were present as special guests