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

One-third of apparel workers lose income

Nearly one-third of garment workers suffered loss of earnings since the lockdown in late March this year due to the coronavirus pandemic, according to a study.Income loss forced the workers to decrease spending on food and education. Again, more than half of them fell into debt trap to meet family...

Fair begins on BSCIC premises

A five-day fair began on the premises of Bangladesh Small and Cottage Industries Corporation (BSCIC) headquarters at Motijheel in the city on Sunday.Some 60 small and cottage entrepreneurs are participating in the 'Hemanto Fair 1427' to exhibit and sell a wide range of handicrafts, attire, leather goods and food items.BSCIC...

BARVIDA seeks office space at Mongla port

The Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) on Monday sought an office space at Mongla port.It also wanted port entry pass for members.The request was made during a meeting of the BARVIDA with Mongla Port Authority chairman M Shahjahan, according to a press statement.The BARVIDA leaders thanked the...

SR Group's three more outlets sued for VAT evasion

A VAT intelligence team on Monday filed cases against three more outlets of SR Group for concealing information on sales worth Tk 322.5 million. The team has detected VAT evasion worth Tk 71.3 million through concealment of sales information, said a statement issued by VAT Audit, Intelligence and Investigation Directorate....

Dhaka, Thimphu hopeful of signing PTA soon

Bangladesh and Bhutan have planned to sign a Preferential Trade Agreement (PTA) soon to deepen trade ties between the two countries, reports UNB.The issue was discussed when newly-appointed Bhutanese Ambassador Rinchen Kuentsyl met State Minister for Foreign Affairs M Shahriar Alam on Monday.Both sides laid emphasis on exploring ways to...

'Crucial' EU virus recovery plan succeeds: Lagarde

PARIS, Oct 19 (AFP): European Central Bank (ECB) chief Christine Lagarde said Monday it was "crucial" for the EU's 750-billion-euro coronavirus recovery plan to succeed as new epidemic-busting measures weigh heavily on the bloc's economy.The money in the $881-billion fund must be disbursed as soon as possible, she told Le...

IMF calls for ‘action’ in virus-hit MENA region

DUBAI, Oct 19 (AFP): The IMF urged Middle East and North African (MENA) countries on Monday to accelerate reforms and diversification efforts as the energy-rich region faces unprecedented challenges due to the coronavirus and low oil prices.In its latest regional economic outlook report, the International Monetary Fund projected the economies...

Egypt to launch 691 green projects in 2021

CAIRO, Oct 19 (Arab News): Almost 700 green projects have been included in Egypt's fiscal plan for 2020-21, at a total cost of EGP447.3 billion ($28.4 billion).The 691 projects represent 14 per cent of the plan's total public investment, Minister of Planning and Economic Development Hala Al-Saeed said, and the...

Md Abdul Hakim

Md Abdul Hakim, General Manager, Agricultural Credit Department, Bangladesh Bank, and Md Mosaddake-Ul-Alam, Managing Director, Ansar-VDP Unnayan Bank, signed a participation agreement on the central bank's refinance scheme for the agriculture sector, which is aimed at tackling the financial crisis caused by the coronavirus, at the Bangladesh Bank office on...

Officials of Life Insurance Corporation

Officials of Life Insurance Corporation (LIC) of Bangladesh Ltd., a joint venture company, celebrated its 4th anniversary by cutting a cake at its office in the city on Sunday

Dr Md Hamid Ullah Bhuiyan pays homage to Bangabandhu Sheikh Mujibur Rahman

Newly-appointed Chairman of Financial Reporting Council Dr Md Hamid Ullah Bhuiyan pays homage to Bangabandhu Sheikh Mujibur Rahman by placing a wreath at his portrait at Dhanmondi Road No. 32 in the city on Monday

China restricts sensitive exports

BEIJING, Oct 19 (Arab News): China has passed a new law restricting sensitive exports to protect national security, allowing Beijing to reciprocate against the US as tensions mount between the sides over trade and technology.The law, which will apply to all companies in China, was passed on Saturday by the...

Hungarian restaurant reinvents wheel for social distancing

BUDAPEST, Oct 19 (Arab News): Hit by a plunge in turnover after foreign tourists vanished, Michelin-starred Hungarian restaurant Costes has staged a skyline dining event on the Budapest Eye ferris wheel to generate sales in a coronavirus-proof environment.Costes owner Karoly Gerendai said that turnover at one of his reopened restaurants...

Saudi Geological Survey signs contracts worth over $530m

RIYADH, Oct 19 (Arab News): The Saudi Geological Survey (SGS) on Sunday signed several contracts with international organisations and consultants to carry out projects related to the geological survey general programme.It is one of the largest geological surveys in the world, with the budget for all its stages amounting to...

Italy approves stimulus package for virus-hit economy

MILAN, Oct 19 (Arab News): Italy has approved a new stimulus package in its 2021 budget to foster an economic rebound from the recession caused by the Covid-19 pandemic, a government statement said on Sunday after a late-night Cabinet meeting. The ruling coalition, led by the anti-establishment 5-Star Movement and...