Month: October 2013

The country’s trade deficit declined to $790 million in the first two months of the current financial year from $885 million in the corresponding period of the FY13. The deficit went down by 10.73 per cent in July-August of the FY14 compared with that of around 115.45 per cent increase in the same period of ... Read more

The rate of cancellations of import-related letters of credit increased in the first two months of the current financial year because of disagreement between importers and exporters and the country’s dull business situation amid political unrest, Bangladesh Bank officials said. BB data released recently showed that the

Bangladesh-India joint group of customs decides Customs administrations of Bangladesh and India on Monday decided to keep open the customs offices at both sides of Benapole and Akhaura land ports seven days a week to facilitate export-import activities between the two countries. They took the decision on the first day of the two-day ninth meeting of ... Read more

The Bangladesh Telecommunication Regulatory Commission is set to award WiMAX licence to Bangladesh Internet Exchange Limited by this month after changing the broadband wireless access service guideline in its favour, said BTRC officials. The BTRC in early October changed the BWA guideline following an application from the BIEL, an internet

The International Labour Organisation and the government of Bangladesh are going to launch a new programme on today to improve working conditions in the readymade garment sector in Bangladesh. Under the project, the ILO will provide $24 million to ensure fire and building safety and to secure lasting improvements in the working conditions in

Bangladesh Bank’s recent directive to keep more provisioning against classified loans and losses from the capital market pulled Islami Bank Bangladesh Ltd’s net profit down significantly in the third quarter. Islami Bank made Tk 0.20 crore net profit in the July-September quarter against Tk 83.23 crore in the same period of the previous year, a ... Read more

Banks focus on agri sector amid low demand from industrialists Farm loan disbursement posted a 24.82-per cent growth in the first quarter (July-September) of the current fiscal year from that in the same quarter of the FY 2012-13 due to a decreased credit demand from the industrial sector. The Bangladesh Bank data released on Monday showed ... Read more

Dhaka stocks ended down in volatile trading on Monday as some government-owned entities supported the market to keep it afloat on the day after the key index hit its lowest in more than five months in the previous day amid a fear of escalation of political confrontations. DSEX, the benchmark general index of

The Asian Development Bank will provide $10 million loan facility for the much-needed investment in private-sector infrastructure projects in Bangladesh, including in renewable energy. The ADB will provide a $100 million credit line to the state-owned Infrastructure Development Company Ltd for investment in projects in power generation,

Green Delta Insurance Company Limited has recently appointed Farzana Chowdhury as managing director and chief executive officer. Prior to join this position, she was additional managing director and Group CFO of the company. She was also an active board member and vice-chairman of the board of directors of the company for the period 2008-2009,

ASM Bulbul has recently joined NRB Commercial Bank as additional managing director. Prior to the start of career in the NRBCB, he was DMD in National Bank. Bulbul started his career as a probationary officer in National Bank in 1984 and served until joining Southeast Bank in 1996. Later he joined Mercantile Bank

Mohammad Shamsul Alam, sponsor director of Standard Bank, has recently been elected executive committee chairman of the bank. After completion of education Alam started his business career and became the proprietor of Radio Vision. He also worked as director of different banks,