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

PKB moves closer to required paid up capital

Wage Earners' Welfare Board (WEWB) has contributed an amount of Tk 1.0 billion to facilitate Probashi Kallyan Bank (PKB) for shoring up its capital base before converting it into a scheduled bank, sources said."The board has handed over the cheque for the amount to the PKB Tuesday," said an official...

IRRI invents tool to stop bacterial blight outbreak

Scientists at the International Rice Research Institute (IRRI) have invented a new tool to track and stop bacterial blight outbreaks in rice field.The multi-national rice research organisation in a web positing has termed the tool a revolutionary one, which can identify the deadly bacterial diseases in a faster way and...

SBAC Bank inks deal with BB for JICA-funded FDIPP

The South Bangla Agriculture and Commerce (SBAC) Bank signed an agreement with Bangladesh Bank (BB) for JICA-funded 'Foreign Direct Investment Promotion Project (FDIPP)' at a ceremony in the capital recently, says a statement.Md Golam Faruque, SBAC Bank's Managing Director and Chief Executive Officer (CEO), exchanged the document of the contract...

Crystal Insurance holds its 18th annual confe

The 18th Annual Conference of Crystal Insurance Company Limited was held at Purana Paltan in the capital recently, says a statement.Crystal Insurance Company Chairman Abdullah Al-Mahmud (Mahin) inaugurated the conference as the chief guest.Chief Executive Officer (CEO) Mia Fazle Karim presided over the meeting, held at the corporate office of...

News Briefs--(15-02-2018)

BIDA, LankaBangla launch investment guide 'Bangladesh Investment Guide 2018' was launched on Wednesday aiming to provide updated information about investment outlook to the foreign investors. LankaBangla Securities Limited, in collaboration with the Bangladesh Investment Development Authority (BIDA) published the investment guide, a statement said. According to the statement, the guide...

Valentine's Day brings sparkle to Belgian diamond hub

ANTWERP, Belgium, Feb 14 (AFP): Sparkling new diamond rings will grace many fingers around the world on Valentine's Day - and most of those gems will have passed through a drab district in the Belgian port city of Antwerp.A diamond hub for nearly 600 years, Antwerp is holding its own...

HNA execs buy offshore dollar bonds amid credit crunch

HONG KONG, Feb 14 (Reuters): China's debt-laden HNA Group said some of its board directors and senior managers have bought offshore dollar bonds guaranteed by the conglomerate - the latest in a series of measures it is taking to shore up its finances.HNA did not give the names of those...

Walmart goes to the cloud to close gap with Amazon

SAN BRUNO/SUNNYVALE, Calif., Feb 14 (Reuters): One of Walmart Inc's best chances at taking on Amazon.com Inc in e-commerce lies with six giant server farms, each larger than ten football fields.These facilities, which cost Walmart millions of dollars and took nearly five years to build, are starting to pay off....

EBL exchanging participating agreement under JICA assisted Foreign Director Investment Promotion Project

Rezaul Islam, General Manager and Project Director, Foreign Direct Investment Promotion Project, Bangladesh Bank and Ali Reza Iftekhar, Managing Director and CEO of EBL exchanging participating agreement under JICA assisted Foreign Director Investment Promotion Project at a ceremony held at Bangladesh Bank Wednesday. Governor of Bangladesh Bank Fazle Kabir and...

Katalyst arranged a thanks giving event and round table discussion

Katalyst arranged a thanks giving event and round table discussion Wednesday in the city to celebrate the successful conclusion of agri business for trade competitiveness project which will formally end March 31, 2018. Shubhashish Bose, Secretary, Ministry of Commerce was present as the chief guest while, Ambassador of Switzerland to...

Japan economy maintains growth for eight quarters

TOKYO, Feb 14 (AFP): Japan's economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the "bubble" boom days of the late 1980s. Gross domestic product in the fourth quarter of last year expanded 0.1 per cent from...

Thai central bank holds interest rates

BANGKOK, Feb 14 (Reuters): Thailand's central bank left its benchmark interest rate unchanged on Wednesday, near record lows, saying it expects inflation to stay largely subdued even as Southeast Asia's second-largest economy gains further momentum.The Bank of Thailand's (BOT) Monetary Policy Committee unanimously voted to keep the one-day repurchase rate...

Iran arrests 100 currency traders as rial collapses

TEHRAN, Feb 14 (AFP): Iranian police arrested around 100 money changers on Wednesday as it scrambled to contain the decline of the rial, which has lost a quarter of its value in six months. A video by state broadcaster IRINN showed dozens of currency hawkers, who normally ply their trade...

German economy grows 0.6pc in Q4

FRANKFURT AM MAIN, Feb 14 (AFP): The German economy, Europe's largest, grew 0.6 per cent between October and December, federal statistics authority Destatis said Wednesday. After growth of 0.9 per cent in the first quarter, 0.6 per cent in the second, and 0.7 per cent in the third, expansion amounted...