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AB Bank has appointed Muhammad A (Rumee) Ali as chairman as part of the lender’s effort to improve its financial health. As per the decision of the AB Bank board, the appointment of Ali came into effect on April 20, the first generation bank said in a statement yesterday.
Read More »Dubai’s Nimai Capital to invest $45m in Bangladesh
Nimai Capital Ltd, a Dubai-based financial institution that promotes financial inclusion in South Asia and Africa, is going to invest $45 million in Bangladesh’s financial services sector. Recently, the firm has received $150 million from Victoria Commercial Bank of Kenya for the Nimai Emerging Financial Services Fund to focus on …
Read More »Biman’s Dhaka-Delhi flights from May 13
Biman Bangladesh Airlines will resume Dhaka-Delhi direct flights on May 13, with three flights a week initially. The flights will be operated on Saturdays, Mondays and Thursdays, according to a statement of Biman.
Read More »Loans against movable assets on the cards
People can soon get loans from banks by keeping their movable assets with banks as collateral, in a development that will expand the access to finance. The central bank has already drafted a law titled “The Secured Transaction (Movable Assets) Act”, which will soon be sent to the law ministry …
Read More »Stocks’ slide not unusual: Kamal
The Dhaka Stock Exchange’s bear run since February is nothing unusual, said Finance Minister AHM Mustafa Kamal yesterday, going so far as to blame the media for playing up the downward trend. On January 24, the DSEX, the benchmark index of the DSE, hit a peak of 5,950 points and …
Read More »Teatulia brings pride gaining foothold in US, UK
A Bangladeshi tea brand has gone global with successful business, expanding to the United States and the United Kingdom after several years’ of efforts. Teatulia, pronounced the same as the country’s northernmost region but with a twist in the spelling, is a brand of Kazi & Kazi Tea, a concern …
Read More »In trade battles, China manufacturers deploy every weapon they can
Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers – giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tariffs. Tit-for-tat tariffs from the China-United States trade war have been costly for many. Adding to the …
Read More »Chinese workers demand release of labour rights activists
Some 100 Chinese workers suffering from a work-related disease have signed a petition demanding the release of three prominent activists in southern China amid a crackdown on labour activism. Wei Zhili and Ke Chengbing, editors of a labour rights news site that reported on the workers’ cases, were arrested last …
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