Month: August 2014

Defaulted loans in industrial sector decline slightly Term loan disbursement for opening of new industries and expanding existing ones registered a negative growth of 0.51 per cent in the recently concluded financial year compared with that of 19.93 per cent growth in the FY 2012-13 due to political unrest and uncertainty. According to the Bangladesh ... Read more

Country’s export to the US fell significantly but to China it continued to skyrocket and to India it rebounded in July, the first month of the financial year 2014-15. Export earnings from the US in July of the FY15 fell by 14.22 per cent to $501.04 million from $588.11 million in the same period of ... Read more

The board of directors of Dhaka Stock Exchange on Thursday suspended the bourse’s general manager Khandaker Asad Ullah as per a regulatory order over the allegations of share trading violating rules. The DSE board on the day also formed a two-member investigation committee as part of the Bangladesh Securities and Exchange Commission’s order for

Dhaka stocks gained on Thursday amid increasing turnover as they were expecting an improved business environment in next few months depending on the ‘stable’ political situation. The key index of Dhaka Stock Exchange, DSEX, gained 0.60 per cent or 27.30 points, to close at 4,554.51 points. Turnover of the bourse increased to Tk 632.12 crore on Thursday

Phramaceutical Industry Dhaka to negotiate with WTO for waiver on patent protection till `25 Dhaka will engage in negotiation with World Trade Organization in Geneva on extending the current waiver up to 2025 from maintaining mandatory patent protection under the intellectual property rights criteria for pharmaceutical products, a senior trade official said. The move has ... Read more

Scrapping Of Mobile Banking Licence BB warns Prime Bank over ‘misleading’ ad Bangladesh Bank on Wednesday warned Prime Bank for publishing ‘misleading’ advertisement on the media about the central bank action cancelling the permission for its (Prime Bank) mobile financial services. The BB issued separate letters to managing director and chairman of the Prime Bank asking ... Read more

The country’s economic growth prospects are badly hurt by the ongoing political uncertainty as entrepreneurs are not encouraged to make fresh investment, said Metropolitan Chamber of Commerce and Industry. In its quarterly economic review for April-June 2014 released on Wednesday, the chamber said foreign investors have adopted a ‘go-slow’ strategy in

Bangladesh Bank on Wednesday raised the ceiling of car loan to Tk 40 lakh from Tk 20 lakh to expedite the credit flow to the private sector, said officials of the central bank. The loan would be allowed for purchasing cars for both personal and organisational use. The central bank also increased the equity-loan ratio for

World Bank country director Johannes Zutt on Wednesday said improving political and economic governance and developing institutions to manage the growing economy in the country were required to accelerate growth and to reduce poverty. Bangladesh also needs to undertake reforms in energy

Trading sector gets 65pc of Tk 47,130cr loan Sixty-five per cent of Tk 47,130-crore SME loan disbursed by scheduled banks and non-bank financial institutions in the first half of 2014 went to trading sector bypassing the manufacturing zone, according to BB data released on Tuesday. Experts said that the major financial goal of small and medium ... Read more

The average point-to-point inflation increased to 7.04 per cent in July from 6.97 per cent in June following the price hike of non-food items during the month of Ramadan, planning minister AHM Mustafa Kamal said on Tuesday. The Bangladesh Bureau of Statistics data showed that the non-food inflation rose to 5.71 per cent in July which ... Read more

The Bangladesh Securities and Exchange Commission on Tuesday decided to ask the Dhaka Stock Exchange to suspend its general manager Khandaker Asad Ullah immediately for share trading by his family members violating securities rules. The commission will also ask DSE to take departmental

The Bangladesh Securities and Exchange Commission on Tuesday fined Dragon Sweater and Spinning Ltd Tk 5 lakh for providing false information about acquisition of land in the initial public offering document. The regulator also fined Dragon Sweater’s issue manager First Securities Services Ltd Tk 5 lakh for not checking the information before applying to the commission

Bangladesh Bank on Tuesday asked non-bank financial institutions to collect information annually from their loan recipients to verify the use of the disbursed credits and see if the recipients diverted the loan to another sector. The BB asked the NBFIs to prepare a questionnaire for their loan recipients so that they (NBFIs) would be able to ... Read more

The Bangladesh Securities and Exchange Commission on Tuesday approved initial public offering of Hamid Fabrics Ltd to issue three-crore shares at the price of Tk 35 each with a premium of Tk 25. The decision was made in a regular commission meeting presided over by BSEC chairman M Khairul Hossain. Hamid Fabrics will raise Tk 105 crore ... Read more