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

Rice traders conspiring to make excessive profits: Razzaque

The rice mill owners, wholesalers, and middlemen are jointly involved in various schemes to make excessive profits, Agriculture Minister Md Abdur Razzaque alleged Sunday, reports UNB."The government is alert and we have a strict stance against such attempts," he said while laying the foundation stone of Ahmed Ali Memorial High...

IFIC Bank distributes loans among Covid-hit micro entrepreneurs

IFIC Bank Limited has started distribution of sanctioned amount of loans to small traders under the Cottage, Micro, Small and Medium Enterprise (CMSME) bailout package announced by the government, said a press release.The Bank started providing loan assistance namely 'Shohoj Rin' as per Bangladesh Bank's special incentive scheme among registered...

bKash offers Tk 100 cashback

bKash has announced a Tk 100 cashback offer for first-time Add Money service users, reports bdnews24.com.They will also get a Tk 100 coupon to make payment at any Pizza Hut or KFC outlet.The customers will get the money back and the coupon the next working day after successful transaction of...

Syngenta holds AGM

The 20th AGM of Syngenta Bangladesh Limited was held recently in the conference room of Bangladesh Chemical Industries Corporation (BCIC) in Dhaka. The meeting was presided over by Md Mostafizur Rahman, Chairman of BCIC and also Chairman of the Board of Directors of Syngenta Bangladesh Limited. A M M Golam...

Record foreign ships dock in Mongla Port

KHULNA, Oct 26 (BSS): With enhancing capability of the Mongla Sea Port (MPA), a total of 11 foreign ships now berthed at the second largest sea port of the country, an official release said.Currently, at least five foreign ships have now been unloading goods in a day, says a MPA...

APEC economic leaders' meet to be held in Nov

KUALA LUMPUR, Oct 26 (Xinhua): The Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting will be held virtually on Nov. 20, the Malaysian Ministry of International Trade and Industry (MITI) said on Monday.The meeting, to be held virtually for the first time due to the Covid-19 situation, will be participated in...

BGB seizes huge timber from Kaptai

CHATTOGRAM, Oct 26: The Border Guard Bangladesh (BGB) seized 1,200 square feet of teak-wood on Sunday night. Based on secret information, a team of BGB led by Lieutenant Colonel Arif Mohiuddin raided the Motipara area at Dongchori under Kaptai upazila of Rangamati district and recovered the wood from there.BGB officials...

Reliance to push on with retail deal in battle with Amazon

MUMBAI, Oct 26 (Arab News): Indian conglomerate Reliance has dismissed Amazon's push to delay its acquisition of domestic retail giant Future Group, despite an arbitration panel suspending the deal following objections by the US online titan.The row is the latest development in a prolonged battle for dominance in India between...

Microsoft quietly prepares to avoid spotlight under Biden

WASHINGTON, Oct 26 (Reuters): Microsoft Corp, which has largely evaded Washington's scrutiny of Big Tech companies and scored a lucrative $10 billion government contract under the Trump administration, has emerged as a significant backer of the Biden campaign.The Redmond, Washington-based software company is the fourth largest contributor to Democratic Presidential...

Nationalisation rate in KSA pvt sector increases

RIYADH, Oct 26 (Arab News): Saudi Arabia's private sector witnessed a rise in the nationalization rate during the third quarter of the current fiscal, according to a report.The report, issued by the National Labour Observatory (NLO), an affiliate of the Human Resources Development Fund, shows a 21.54 per cent increase...

SABIC posts net profit of SR1.09b in Q3

RIYADH, Oct 26 (Arab News): Saudi Basic Industries Corp. (SABIC) on Sunday reported a 19 per cent increase in its third quarter earnings as compared to the previous quarter.The company's revenue for the third quarter of the current fiscal year reached SR29.3 billion ($7.81 billion). SABIC recorded a net profit...

Canada court to hear Huawei CFO's US extradition case

VANCOUVER, Oct 26 (Reuters): A Canada court will hear witness testimony starting Monday as part of Huawei Chief Financial Officer Meng Wanzhou's legal battle to stop her extradition to the United States.The five days of hearings will focus on alleged abuses of process committed by Canadian and US authorities during...

Hasbro revenue beats estimates

Hasbro Inc beat analysts' estimates for quarterly revenue and profit on Monday, boosted by demand for its Monopoly and other board games from stuck-at-home parents looking to keep their children entertained, reports Reuters.As schools in many parts of the country continue to hold classes online, coupled with limited options for...

German business confidence dips on virus nerves

FRANKFURT, Oct 26 (AFP): German business confidence in October fell for the first time since April, as businesses become increasingly anxious about the second wave of the coronavirus pandemic, a closely watched survey showed Monday.The Ifo institute's monthly barometer slid to 92.7 points from a seasonally adjusted 93.2 points in...

US appeals WTO ruling on its multi-billion tariffs on China

GENEVA, Oct 26 (Arab News): The United States lodged an appeal on Monday against a WTO ruling last month that found US tariffs imposed on China in 2018 breached global trade rules, a World Trade Organisation (WTO) official said.A three-person panel had ruled that Washington had not justified why the...