Credit growth in the private sector declined to below 13 per cent in March on year-on-year basis for the first time since the financial year 2009-10 due mainly to recent political unrest, said economists, businessmen and bankers. They said that such low credit growth in the private
Month: May 2013
Strikes, factory disasters to hurt investor confidence: Moody’s
The US-based credit rating agency Moody’s on Thursday warned that continued political violence and recurrent disasters in garment sector may further damage investors’ confidence in Bangladesh, posing a risk to credit rating. The warning of the firm came following the clash
Revenue shortfall rises to Tk 5,000cr in 10 months
NBR chairman doubts about target achievement Shortfall in the revenue collection increased further to Tk 4,964.41 crore in the first 10 months of the current fiscal year, making the Bangladesh Revenue Board’s top officials worried about a possible failure in achieving the tax collection target set for the FY 2012-2013, officials said.
Bank accounts of 21 directors of 4 factories frozen
The Bangladesh Bank on Thursday ordered freezing the bank accounts of 21 directors of four garment units housed in the collapsed Rana Plaza at Savar. The BB on the day issued a circular to all banks in line with a directive of the High Court passed on May 5.
10 of 18 closed RMG factories resume operation
Ten of the 16 garment factories that had been closed on safety grounds after the April 24 Rana Plaza collapse at Savar resumed their operations on Thursday. The textile and jute minister Abdul Latif Siddique told New Age that the cabinet committee on readymade garment industry had shut 16 apparel factories in Dhaka
Banks in 4 metropolises to remain open Saturday
All the branches of the scheduled banks in Khulna, Rajshahi, Barisal and Sylhet metropolitan areas will remain open on Saturday, said a Bangladesh Bank press release. The branches in these metropolises will remain open so that people can deposit the security money for contesting in the elections of the four city corporations
Dhaka stocks advance on institutional buying
Dhaka stocks advanced on Thursday, the last trading session of the week, with the turnover declining as some state-owned institutions were active on the trading floor to keep the market afloat, market operators said. The benchmark general index of Dhaka Stock Exchange,
China team in Dhaka to explore RMG import possibilities
A high-powered business delegation from China arrived in Dhaka on Thursday to explore possibility of sourcing from Bangladesh. The 21-member team headed by China National Garment Association vice-president Feng Dehu visited three apparel factories on the first day of their trip
Shipbuilders seek working capital for 10 years
Shipbuilders on Thursday sought working capital for longer period like readymade garment industry to turn the growing export- oriented shipbuilding industry into a multi-billion dollar one in ten years. ‘As a ship needs two years to be completed,
Sheltech May Fair begins today
The Sheltech May Fair 2013 begins at the corporate office of Sheltech at Panthapath in the city today, said a press release. The fair will run till May 31 from 9:00am to 7:00pm. Sheltech is offering 25 per cent discount on all its apartments
Benetton won’t leave Bangladesh: chief executive
Benetton chief executive Biagio Chiarolanza said his company planned to stay in Bangladesh despite concerns over factory safety and work conditions in the country’s £13billion garment industry, reports Daily Mail quoting The Huffington Post. The head of Benetton admitted that it had links to the
Lack of support prompts Mushfiq to quit
Lack of cooperation from the key players that hindered the team-work prompted national captain Mushfiqur Rahim to resign, revealed Bangladesh Cricket Board president Nazmul Hasan Thursday. Mushfiq left the entire cricket fraternity shell-shocked
Abahani held again
Abahani Limited played out a draw in their second consecutive AFC President’s Cup qualifier as they were held to a 1-1 draw by defending champions Taiwan Power Company at the Dashrath Stadium on Thursday. Courtesy of the draw, Abahani now stood a good
Sakib falls from top ranking
Ace Bangladesh cricketer Sakib al Hasan was dethroned as the number one all-rounder in one-day internationals in the aftermath of his ordinary displays with both bat and ball in the just-concluded three-match ODI series against Zimbabwe. Sakib lost top position to Mohammad Hafeez of Pakistan
Lodewijk ropes in three expatriate Bangladeshis
BFF names 29-member primary squad for UK tour Bangladesh national team football coach Lodewijk de Kruif sprung a surprise on Thursday when he picked three foreign-based players in his 29-member preliminary squad for the forthcoming UK tour. Bangladesh will play two international friendly matches
Tagore classics can make good films
Experts tell New Age Rabindranath Tagore wrote in a letter to Murari Bhaduri (theatre legend Sisir Kumar Bhaduri’s brother) in 1929 that cinema should ideally be a ‘flow of images’ that should not rely on the written word to communicate. This was even before India’s first talkie Alam Ara had been made. Perhaps it is ... Read more
Lily remains busy with Tagore anniv
Renowned Tagore singer Lily Islam had a very busy day on Wednesday, which happened to be Rabindranath Tagore’s 152th birth anniversary. The artiste sang at different places on the occasion including the National Theatre Hall of Bangladesh Shilpakala Academy and on a number of television channels. Lily Islam is currently working
Shootout At Wadala makers apologise for movie dialogue
A day after the producer of Hindi film ‘Shootout at Wadala’, Ekta Kapoor’s Balaji Motion Pictures, apologised to Bhartiya Valmiki Dharm Samaaj for a dialogue that the outfit had taken serious objection to, it was the turn of director Sanjay Gupta to render a written apology. (a copy of which is with Hindustan Times) from ... Read more
Bangladeshi Film Fest to be held in US
A week-long Bangladeshi film festival featuring five local films will be held in New York, US. The festival titled ‘Ruhana-Channel-i Film Festival USA-2013’ will feature Channel-i produced films including Humayun Ahmed’s Ghetu Putra Kamola, Nasir Uddin Yousuff’s Guerilla, Goutom Ghosh’s Moner Manush, Mostofa Sarwar Farooki’s Third Person Singular Number and
Death toll reaches 819
The death toll from the Rana Plaza collapse reached 819 on Wednesday as rescuers were still recovering bodies in the second phase of rescue operation that began on April 29 with heavy equipment. Seventy-five bodies were recovered between midnight past Tuesday and 9:00pm on Wednesday, according to the district administration control room.