Fourteen scheduled banks posted a negative credit growth as of the end of May 2014 on year-on-year basis due to a stagnant situation in the business sector, said officials of Bangladesh Bank. According to the latest BB data, the overall credit growth of the scheduled banks also decreased remarkably against the deposit growth as of May ... Read more
Month: July 2014
Increasing demand pushes up broiler price
Green chilli price increases for supply shortage The prices of green chilli and broiler increased in the city’s kitchen markets over the week ending Friday due to supply shortage as well as increasing demand. Traders said that the price of green chilli increased as heavy rain fall damaged vegetable fields in the different parts of the ... Read more
DSE won’t enlist cos with irregularities
Ipo Controversy DSE won’t enlist cos with irregularities Dhaka Stock Exchange board has decided to not to enlist the companies approved by the Bangladesh Securities and Exchange Commission if there are major inconsistencies and violation of rules. The DSE board in a recent meeting made the decision as BSEC’s approval to some companies to raise capital ... Read more
Textile chemicals demand to grow in Bangladesh
The consumption of textile chemicals in Bangladesh is likely to grow at a compounded annual growth rate of around 7 per cent over the next five years, due to the increasing demand for readymade garments, says a recently published report by TechSci Research, a Canada-based market research and consulting company, reports www.fibre2fashion.com web site.
BCB finalises DPL pool sans Sakib
The Bangladesh Cricket Board on Thursday finalised the players’ pool for the upcoming Dhaka Premier League without the suspended all-rounder Sakib al Hasan. A total of 23 cricketers have been named on the pool with players who represented the national side in international cricket since last October. Sakib was in the initial 24-member pool, but officials
Super Cup deferred until Asian Games
National team to start training from first week of August The Bangladesh Football Federation on Thursday postponed the cash-rich Super Cup until the 17th Asian Games, which is scheduled to be held in Incheon, South Korea, from September 19 to October 4. An emergency meeting of the executive committee also decided to start the national team ... Read more
Ozil’s donation sparks baffling charity row
Mesut Ozil reportedly gave away his £237,000 World Cup winnings, but there are conflicting reports as to just who the beneficiary is, reports Eurosport. The International Business Times mistakenly reported that Ozil, who helped Joachim Low’s Germany to a 1-0 win over Argentina in the World Cup final, had donated his winnings to the children of
Van Gaal undecided on United captain
Louis van Gaal insisted he will take his time before naming his captain at Manchester United and promised to give all the players he inherited a chance to prove their worth to him in the coming weeks, reports ESPN FC. Speaking to the media for the first time as United boss, Van Gaal confirmed that Ander ... Read more
BTRC again declines to pay income tax
Bangladesh Telecommunication Regulatory Commission has again declined to pay income tax to the National Board of Revenue claiming that it has no taxable income, officials said. Claiming itself as a non-taxable entity, the telecom regulator on Thursday demanded that the NBR should exempt it from paying taxes and withdraw the provision in
77 cos with Tk 289cr EEF loan traceless, reveals BIDS study
BB claims only six companies are culprit There is no trace of at least 77 companies which borrowed capital amounting to Tk 289 crore from Equity and Entrepreneurship Fund of Bangladesh Bank, a recent survey of Bangladesh Institute of Development Studies (BIDS) revealed. Bangladesh Bank, however, on Thursday contested
Production at Hameem Group unit suspended at Tejgaon
Rmg Factory Safety Inspection Production at Hameem Group unit suspended at Tejgaon The government-set review committee on Wednesday asked the authorities of Thats’ It Fashions Ltd, which is housed in a 10-storey building in the Tejgaon area in the capital, to suspend production immediately after the inspection teams of North American retailers’ group had found ... Read more
Banks’ remittance delivery time cut
Bangladesh Bank has asked scheduled banks to deliver wage earners remittances by two working days to the beneficiaries. Currently it takes 72 hours to deliver the remittances. The BB issued a circular to the authorised dealer branches of all banks on Wednesday saying that the central bank had taken the initiative to step up the inflow of ... Read more
Stocks end flat as large cap cos lose steam
Dhaka stocks finished flat on Thursday, last trading session of the week, despite increase in share prices of the two-third of the issues traded on the day as large capitalised stocks including multinational companies shed prices. The key index of Dhaka Stock Exchange, DSEX, finished
Question over venue of Zim series
Zimbabwe national cricket team will arrive on October 17 to play three Tests and five one-day international matches against Bangladesh, the Bangladesh Cricket Board announced on Wednesday. The series will mark the first ever three-Test series in Bangladesh, though the selection of the venues by the Bangladesh Cricket Board already raised some questions.
Defaulted loan rise puts barrier to interest rate cut
Defaulted loans in the country’s banking sector are rising because of scams in the state-owned banks that gave no scope of cutting the interest rate, stopping the falling private investment and flight of capital. A Bangladesh Bank report submitted last month to a parliamentary standing committee admitted the fact while focusing on the hamstrung
Imports up 3.96pc in June on capital machinery
Imports posted a 3.96-per cent growth in June this year compared with that of 30.58 per cent growth in the same month last year due to a rise in payment of bills for food products and capital machinery. According to the latest BB data, the settlement of letters of credit, or generally known as actual import, ... Read more
NBR asks mobile operators to pay 10pc AIT
Contributions To Btrc Sof NBR asks mobile operators to pay 10pc AIT The National Board of Revenue has instructed the mobile phone operators in the country for deducting tax at source at the rate of 10 per cent on subscription to the social obligation fund of Bangladesh Telecommunication Regulatory Commission. The revenue board has also ... Read more
BB announces new monetary policy July 27
Bangladesh Bank will announce its monetary policy statement for the first six months of the current financial year on July 27 with the aim of continuing the existing measures to control inflation and increase investment in productive sectors. A BB official told New Age on Wednesday that the
Tigers to leave for WI on Aug 13
Bangladesh national cricket team will leave home on August 13 for the forthcoming tour of West Indies, the Bangladesh Cricket Board announced on Monday. Bangladesh will play two Test matches along with three one-day internationals and a lone Twenty20 international during their five-week long tour in the Caribbean. Tigers will begin their campaign with the ODIs at
Jamal face Abahani today with eyes on title
League-leaders Sheikh Jamal Dhanmoni Club will be crowned champions in the Bangladesh Premier League if they manage a draw against their nearest challengers Abahani Limited today. Jamal, who have now 55 points from 24 matches, need just one point to put them in an unassailable position as they are currently 12 points clear of Abahani with ... Read more