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

Egg hits nine-year low at farm level

Egg prices have hit nine-year low, putting the poultry farms especially smaller ones into doldrums.The situation has worsened further as the production cost of poultry farms have gone up in recent times following a hike in feed and medicine prices.The fall in egg prices is forcing hundreds of small and...

Insurance industry yet to mature: Muhith

Country's insurance industry is yet to get mature despite the business has been in practice in this land since 1938, Finance Minister AMA Muhith said Tuesday."Insurance industry is yet to mature," he told reporters at a programme at Bangladesh secretariat. He pointed out frequent allegations that the policyholders do not...

SIBL opens branch at Dakhkhinkhan

The Social Islami Bank Limited (SIBL), a private commercial bank, opened its 136th branch on Tuesday at Dakhkhinkhan in the capital, says a statement.SIBL Chairman Professor Md Anwarul Azim Arif inaugurated the 'Dakhkhinkhan Branch' in a ceremony as the Chief Guest.Managing Director and Chief Executive Officer (CEO) of the bank...

Dutch-Bangla Bank opens 175th branch in capital

Dutch-Bangla Bank, a private commercial bank, opened its 175th branch at Mirpur Road in the capital on Tuesday, says a statement.Abul Kashem Md Shirin, Managing Director and CEO of the bank, inaugurated the 'New Market Branch' branch at Golden Gate Shopping Centre in a ceremony on Tuesday.Addressing the programme, Abul...

Khaled Mahmood's second stint as BPDB chairman

Engineer Khaled Mahmood has been reappointed Bangladesh Power Development Board (BPDB) chairman for a two-year term after completion of his regular service as the chairman on December 22, says a statement.He started his career at the Directorate of Programme of the BPDB as an assistant engineer in 1981. Earlier, Khaled...

RCom announces new debt reduction plan with no write-offs

MUMBAI, Dec 26 (Reuters): Anil Ambani, the businessman backing India's Reliance Communications Limited, said on Tuesday the company will reduce its debt by about 250 billion rupees (US $3.90 billion) through the sale of some of its spectrum, tower and real estate assets.The reduction will allow the company to provide...

BCIC to import 0.22m tonnes of fertiliser to avert crisis

The government has moved to import some 220,000 tonnes of fertiliser on an emergency basis, aiming to avert any possible crisis in agricultural input supply in the country, reports UNB.The state-owned BCIC (Bangladesh Chemical Industries Corporation) had to initiate the move because of the energy ministry's decision to suspend gas...

ECNEC nod to Tk 18b BR fleet upgradation scheme

The government Tuesday approved a project of Tk 17.91 billion to purchase 20 diesel electric locomotives and 150 passenger carriages for Bangladesh Railway (BR).It was one of 16 development projects approved with a total cost of Tk 159.69 billion by the Executive Committee of the National Economic Council (ECNEC) at...

CCC to repair and develop 108km roads

CHITTAGONG, Dec 26: The ECNEC has approved a road development and repair project of Chittagong City Corporation (CCC) at a cost of Tk 3.82 billion.The Executive Committee of the National Economic Council (ECNEC) approved the revised project at its meeting in Dhaka, with Prime Minister Sheikh Hasina in the chair.CCC...

39th AGM of National Tea Company

The 39th Annual General Meeting of National Tea Company Limited was held at the TCB Auditorium at Karwan Bazar in Dhaka recently, says a press statement.Company's Chairman and Addl. Secretary, Ministry of Commerce, Munshi Shafiul Haque presided over the Meeting. Other directors of the company Moinul Islam, Additional Secretary, Ministry...

BSTI to set up office in each district

As the industries ministry has decided to open offices of Bangladesh Standards and Testing Institution (BSTI) in every district, Industries Secretary Mohammad Abdullah asked the officials concerned to send a standard setup of workforce to the ministry by February, reports BSS. "BSTI will have to set up its office in...

Cut in DITF stalls to offer visitors comfort

The organisers have reduced the number of stalls in the upcoming Dhaka International Trade Fair (DITF) to give the visitors some comfort at the usually-overcrowded fair, reports bdnews24.com.The fair will have 540 pavilions and stalls in 14 categories in January this year, down from 584 last year.The Export Promotion Bureau...

Radisson Blu Chittagong Bay View handed over daily necessities

Radisson Blu Chittagong Bay View handed over daily necessities, stationeries, table, chair, stand fan, bed sheet, mosquito net, schoolbag and dry food to an orphanage on Sunday. General Manager Robin Edwards and the Management Team distributed the items to spread love and joy among the children at the orphanage on...

China, Pakistan court Afghanistan to join $57b economic corridor plan

BEIJING, Dec 26 (Reuters): China and Pakistan will look at extending their $57 billion China-Pakistan Economic Corridor to Afghanistan, Chinese Foreign Minister Wang Yi said on Tuesday, part of China's ambitious Belt and Road plan linking China with Asia, Europe and beyond.China has tried to position itself as a helpful...

Most Asian currencies hold steady

Most Asian currencies barely budged in thin holiday trade on Tuesday, with the Chinese yuan briefly rallying to a 3-1/2-month high before retreating on corporate dollar demand, reports Reuters.China's central bank lifted its official yuan midpoint to the highest level in over three months at 6.5416 per dollar, reflecting a...