Month: May 2014

Dhaka, keen to get duty free access to the US market, has requested Washington to establish two committees on market access and investment, senior commerce ministry officials said. The committees comprising public and private sector representatives could hold period meetings to identify and remove the hurdles to boost trade

The overall shortfall in provision against general and defaulted loans in the banking sector increased by Tk 2,174.59 crore or 843.74 per cent in the first quarter of this year with seven banks failing to keep required provision in the period. According to the latest BB data, the shortfall rose to Tk 2,432.32 crore as of ... Read more

The Dhaka Stock Exchange plans to scrap the existing lot-based trading of shares by October this year in a bid to reduce investors’ hassle in trading odd-lot shares. Once the bourse scraps the lot-based trading system, the investors will be able to trade any amount of shares, DSE managing director Swapan Kumar Bala

Banks, defaulters misuse relaxed rescheduling policy as BB goes soft Defaulted loans in the banking sector increased by Tk 7,589.15 crore in the first three months of this year as many of the loan defaulters, who were allowed to reschedule their loans on the ground of pre-poll political unrest became defaulters again. According to the Bangladesh ... Read more

The Asian Development Bank on Monday reiterated the country’s GDP growth rate at 5.6 per cent because of political unrest surrounding the January 5 election which resulted in declining remittances and export orders in 2013-14 fiscal year. In its quarterly update released on the day, the Manila-based multilateral donor also said that industrial

Recruitment of additional 200 factory inspectors by the June, a new deadline set by the government, appeared uncertain due to some procedural complexity, said officials concerned. A labour ministry official said that amendment on a relevant rule is required to facilitate the recruitment process as existing rules do not allow recruiting

State-run Bangladesh Submarine Cable Company Limited on Monday agreed to export 10 Gbps bandwidth to India’s Tripura. The BSCCL signed a memorandum of understanding with the Indian state-owned telecommunication company Bharat Sanchar Nigam on the day, said officials. The four-member BSNL delegation led by its chief general manager DP Singh

Dhaka stocks finished flat in volatile trading on Monday as bargain hunting in late trading hours after a two-day sharp fall saved the market from another day of heavy fall. The market remained downbeat in the last three trading sessions following the finance minister’s announcement that the government ‘would not allow’

Qatar Airways, the national carrier of Qatar, will officially move to its new home at Hamad International Airport on May 27, 2014. The move to HIA’s state-of-the-art facilities is set to compliment Qatar Airways five-star service, said a news release. HIA will offer passengers a new standard in international travel and help in supporting Qatar Airways as it ... Read more