Month: December 2014

Bangladesh Bank will ask managing directors of scheduled banks to inform it about voluntary their resignation as the central bank has recently received allegations that board of directors of some banks forced their chief executive officers to resign. A BB official told New Age on Wednesday that the central bank would issue a circular in a ... Read more

The Dhaka Stock Exchange will launch a new trading system, replacing its 16-year old system, today that will allow lot-free share trading at the bourse. ‘As we were facing problems with the old trading system and the Bangladesh Securities and Exchange Commission recommended introducing a new one, the bourse

Hossain Khaled was on Wednesday elected president of the Dhaka Chamber of Commerce and Industry for 2015, said a DCCI press release. The trade body also elected Humayun Rashid as senior vice president and Md Shoaib Chowdhury as vice president for the term, it said. The newly-elected DCCI directors are: Hossain Aktar,

Dhaka stocks finished flat on Wednesday as investors opted to observe the market trend after the launch of a new trading system at the Dhaka Stock Exchange today. The key index of the DSE, DSEX, closed at 4,943.72 points, shedding 0.31 points or 0.01 per cent. Market operators said investors might have decided to go slow

46pc increase in overdue loans poses fresh risk The defaulted loans in the industrial sector skyrocketed by 16.24 per cent in the first quarter of the current financial year 2014-15 compared with the corresponding period of the FY14 due to dull business amid political uncertainty. According to Bangladesh Bank data released on Monday, the defaulted industrial ... Read more

The country’s export earnings in the first five months of the current fiscal year 2014-15 fell short of target by US$ 665.44 million or 5.23 per cent mainly due to either sluggish or negative growth in export of major products, mainly apparel items. Export earnings in the period, however, came out from negative territory which the ... Read more

Bangladesh along with other South Asian countries has moderate level of monetary inequality, according to a World Bank report. The country has ranked third among the countries in the region in terms of level of low inequality. Afghanistan and Pakistan have performed better than Bangladesh while Nepal, India, Sri Lanka, Maldives and Bhutan have achieved lower position, ... Read more

High Court has approved the proposed amalgamation scheme of Keya Cosmetics Limited with its three other associate companies — Keya Cotton Mills Limited, Keya Spinning Mills Limited and Keya Knit Composite Limited, a DSE web site post said on Monday. The single bench of Justice Md Rezaul Hasan approved the amalgamation scheme on Sunday. As per the ... Read more

Govt takes the move to facilitate tea growers to get low-interest bank loans The government has taken an initiative to declare 60 per cent of tea production activities as agricultural activities to facilitate investors in the tea sector to get bank loans at low interest rate for reviving the glory of tea in the export ... Read more

A three-day apparel summit begins today in Dhaka with the aim of improving image of the country’s troubled readymade garment sector globally. The Bangladesh Garment Manufacturers and Exporters Association is organising the summit with the slogan ‘Bangladesh RMG 2021: $50 Billion on 50th Anniversary of Bangladesh,’ at the Bangabandhu International Conference

In an effort to have the delivery of four 787-8 aircraft by February 2020, cash-strapped Biman Bangladesh Airlines looks for a financer for the pre-delivery payment as a term loan for the aircraft, worth $136.280 million. The four 787-8 aircraft, popularly known as Dreamliner, are scheduled to be delivered by October 2019, November 2019, January 2020 ... Read more

Harvest of aman has started in full swing across the country but the prices of rice remained high in the city’s retail and wholesale markets. Traders said that it will take time to reduce the prices of rice as new rice is yet to appear in the market. Consumers, however, expressed dissatisfaction over the high price of ... Read more

The system will facilitate lot-free trading The Dhaka Stock Exchange will launch a new trading system, replacing the old one, on Thursday that will allow lot-free share trading at the bourse with various upgraded data features, DSE officials told New Age on Friday. The premier bourse, following a regulatory order to replace its existing system, on ... Read more

Scheduled banks in October further cut rates of interest on their deposit products due to rising excess liquidity in the banking sector amid lower loan disbursement in the industrial sector, according to the Bangladesh Bank data released last week. The weighted average interest rate on deposit in the banking sector declined to 7.40 percentage points in ... Read more