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

Automation jeopardises garment workers' jobs

Mohammadi Group Managing Director Rubana Huq says her company's garment factories have replaced about 500 workers with machines and may replace more as part of a growing industry trend toward automation."It doesn't make sense for us to slow ourselves down" by not automating, said Huq, whose company provides apparels to...

Finance minister Abul Maal Abdul Muhith inaugurates the annual business

Finance minister Abul Maal Abdul Muhith inaugurates the annual business conference of Agrani Bank Limited on Saturday at a hotel in Dhaka. State minister for finance M A Mannan and Bangladesh Bank governor Fazle Kabir also attend the conference.

Migrant families spend more on durables than education, health, shows Analysis

FE ReportRemittances sent home by migrants are not spent adequately on education and health in Bangladesh, according to an analysis on Saturday.The analysis, based on the household income and expenditure survey (HIES)-2010 of Bangladesh Bureau of Statistics (BBS), also found that the use of remittances on food consumption had declined...

Hundred-plus brands sign up Accord

Monira MunniSome 107 brands have signed the 2018 transition Accord in Bangladesh covering more than 1,200 garment factories, people familiar with the situation said.The brands included H&M, Inditex, Primark, PVH, C&A, Loblaw, Target, Aldi, Mango and Tesco. But the joint monitoring committee, supposed to be formed by December last year,...

Commerce minister Tofail Ahmed inaugurates Partex Cables

Commerce minister Tofail Ahmed inaugurates Partex Cables Limited's plant at Bandar, Narayanganj recently as the chief guest. Local lawmaker AKM Salim Osman and founder chairman M.A. Hashem attend the function as the special guests.

Fish production slips in Kaptai Lake

Production of big fishes like 'rui' and 'katal' in Kaptai Lake fell substantially over the years for not using modern technologies of fish farming, officials said.The total area (including embankments) of the artificial lake is 68,800 hectares. Only 139 kilograms of fishes are now being produced per hectare annually in...

Bangladesh Insurance Association (BIA) President Sheikh Kabir Hossain presides

Bangladesh Insurance Association (BIA) President Sheikh Kabir Hossain presides over a symposium on 'Emerging Trends on Liability Risk Management and Mass Policies' at Dhaka Club recently. BIA and Salasar Services (Insurance Brokers) Pvt Ltd, India, jointly organised the event where Insurance Development and Regularity Authority Chairman Md Shafiqur Rahman Patwari,...

Chartered Life holds annual get-together in Cox's Bazar

Our CorrespondentCOX'S BAZAR, Feb 17: Annual get-together of the Chartered Life Insurance Company Limited (CLICL) was held in Cox's Bazar town on Friday.Assistant Sales Manager of Chartered Life Insurance Company Akbar Ahmed presided over the programme. CLICL's Chittagong region Assistant Sales Manager Emdadul Haque Jahed was present as the chief...

Outlook for rising US budget deficits problematic: RBA Governor

SYDNEY, Feb 17 (Reuters): Reserve Bank of Australia (RBA) Governor Philip Lowe has said the outlook for rising US budget deficits was "very problematic."Investors are worried about the twin deficits in the United States amid a government spending splurge and large corporate tax cuts. Lowe said he would not want...

Ex-CEO Steve Wynn not entitled to compensation pay: Wynn Resorts

NEW YORK, Feb 17 (Reuters): Wynn Resorts Ltd said on Friday that former chief executive Steve Wynn was not entitled to severance payments or any other compensation.Steve Wynn resigned as CEO of Wynn Resort earlier this month after allegations of sexual misconduct.Steve Wynn's current healthcare coverage would be terminated at...

Three-day tea expo begins today

Bangladesh Tea Expo-2018 will begin today (Sunday) with a view to expanding market and promoting tea-related products as well as boosting production with new varieties, reports BSS.Prime Minister Sheikh Hasina is scheduled to inaugurate the three-day expo in the city's International Convention City Bashundhara (ICCB). The Ministry of Commerce and...