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

UMPL to implement 584MW combined cycle power plant

A consortium of three local and foreign companies signed deals with the government entities here on Wednesday to implement the country's biggest 584 megawatt (MW) combined cycle power plant at Meghnaghat of Narayanganj.The consortium, named Unique Meghnaghat Power Ltd (UMPL), will build the power plant within 36 months.The plant will...

Nitol launches car insurance policy with EMI facility

Nitol Insurance, a local privately-owned non-life insurer, on Wednesday launched an online-based comprehensive car insurance policy with a feature of paying premiums in equal monthly installments (EMIs).The policy named 'Nirapod' has third-party death compensation worth Tk 500,000, which is usually Tk 20,000 in practice in the country. It has the...

ADB official brands BD 'role model' of growth

Asian Development Bank (ADB) Country Director Manmohan Parkash on Wednesday branded Bangladesh as a 'role model' in the globe in terms of the country's economic growth."Bangladesh is an emerging country. The GDP (Gross Domestic Product) growth of the country is also growing. It is the role model in the world,"...

Vannamei farming on pilot basis starts in 2 dists in Jan

Bangladesh is set to start piloting vannamei shrimp production from January next year to help increase the shipment of frozen shrimp abroad, sources said.To this effect, the Department of Fisheries (DoF) has selected lands and entrepreneurs for farming the variety in Khulna and Cox's Bazar districts on a pilot basis.Currently,...

Uncertainty looms over projects to transmit power from Payra plant

Uncertainty looms large over the timely execution of transmission projects to facilitate electricity evacuation from the proposed 1,320-megawatt (MW) Payra coal-fired power plant, reports UNB.According to sources at the Bangladesh-China Power Company Limited (BCPCL), the projects, taken by the government for creating required transmission facilities, are still running far behind...

CWCCI, NRB Bank ink MoU for SME Expo

CHATTOGRAM, July 24: The NRB Bank Limited will be an official partner of the Chattogram Women's Chamber of Commerce and Industry (CWCCI) for organising the 13th International Women's SME Expo Bangladesh.The International Women's SME Expo Bangladesh 2019 will be held in the port city in December.The NRB Bank and the...

Postal Div starts free Nagad reg

The Postal Division organised a free customer registration drive for its digital financial service Nagad through an event Tuesday on the occasion of National Public Service Day, says a statement.Posts and Telecommunic-ation Minister Mustafa Jabbar inaugurated the event at the Postal Directorate at GPO in the capital in the morning.

EU threatens duties on 35b euros in US goods

BRUSSELS, July 24 (AFP): The European Union (EU) is ready to hit the United States (US) with extra tariffs on goods worth 35 billion euros if Washington slaps duties on its cars, its trade chief said Tuesday.The warning by EU Trade Commissioner Cecilia Malmstrom came as she said a plan...

IMF slashes Middle East growth projections over Iran sanctions

DUBAI, July 24 (AFP): The International Monetary Fund (IMF) Tuesday slashed its economic growth forecast for the Middle East and North Africa to the worst level in more than a decade over Iran sanctions and regional unrest.In its World Economic Outlook update, the global lender projected economic growth for the...

US-China trade talks in Shanghai next week

WASHINGTON, July 24 (AFP): The United States (US) and Chinese officials will hold two days of talks in Shanghai next week to try to make progress on their year-long trade dispute, US Treasury Secretary Steven Mnuchin said Wednesday.It will be the first face-to-face meeting since talks collapsed in May after...

US imposes $5.0b fine, restrictions on Facebook in privacy probe

WASHINGTON, July 24 (AFP): US regulators on Wednesday formalised a record $5.0 billion fine on Facebook for privacy violations in a settlement requiring the world's biggest social network to "submit to new restrictions and a modified corporate structure."The Federal Trade Commission said the penalty was the largest ever imposed on...

Rupee slips 16 paise to 69.10 vs USD

MUMBAI, July 24 (PTI): The rupee opened on a weak note and declined by 16 paise to 69.10 against the US dollar in opening trade on Wednesday, amid sustained foreign fund outflows and rising crude oil prices.Forex traders said, cautious opening in domestic equities and strengthening of the US dollar...

News Briefs-(25-07-2019)

Biman's new Boeing aircraft arrives todayBiman's third brand new Boeing 787-8, known as the Dreamliner, will reach here today (Thursday) as the 15th aircraft to the national flag carrier. "The new aircraft named as Gangchil will land at Hazrat Shahjalal International Airport this (Thursday) afternoon from the USA's Seattle's Boeing...

BPDB Chairman Engineer Khaled Mahmood

Bangladesh Power Development Board (BPDB) Chairman Engineer Khaled Mahmood (3rd from L) participating as the chief guest a discussion organised by the board in the city on Tuesday on the occasion of National Public Service Day 2019, chaired by BPDB member (administration) Md Zahurul Haque

Bangla Trac Group

Bangla Trac Group, authorised exclusive dealer of Caterpillar Inc. USA in Bangladesh with the brand name of BanglaCAT, conducted an hour of company presentation in the annual conference programme of PWD in the auditorium of PWD headquarters in Dhaka recently. Tareque Ahammod, CMO of BanglaCAT; Moniul Islam, Chief of Public...