Checking Financial Crime
AD branches of 8 state-run banks must use SWIFT network: BB
Bangladesh Bank has asked the country’s eight state-run scheduled banks to ensure using SWIFT network while issuing back-to-back letters of credit in a bid to check fraudulent act and financial crime, officials of the central bank have said. The BB issued a letter to managing directors and chief executive officers of all banks on January 22, asking them to ensure the use of
Month: January 2015
Dull business frustrates foreign participants at DITF
The foreign participants of the month-long Dhaka International Trade Fair, the country’s largest and most vibrant showcasing event, experienced a ‘very dull’ business due to the ongoing political instability compelling them to rethink about their future plan.
A number of foreign participants at the fair venue
Commodity prices remain high in capital
The prices of essential commodities including rice, lentil, meat and vegetables remained high on the city’s kitchen markets over the week as non-stop blockade called by the BNP-led alliance is taking toll on the transportation. The prices of rice remained high over the week as the market experienced a supply shortage due to the indefinite blockade enforced, traders said. The
Performance-based management fees for AMCs in the offing
The Bangladesh Securities and Exchange Commission is planning to set performance-based management fees for asset management companies of mutual funds in line with its effort to pressurise the entities to improve performance, a BSEC senior official has told New Age recently.
In the existing mutual fund rules AMCs get regular fees
Tigers take time off for go-karting
Bangladesh cricket team took some time off from their usual routine on Friday to enjoy a leisurely period with a trip to a local go-karting track in Brisbane. Go Karting Brisbane, one of the best indoor go kart hire racing centers in Australia, is a European-style indoor kart track, featuring around 400m of adrenalin pumping action, with a huge 24m cross over bridge, tunnel,
Joyraz hits ton in drawn youth Test
Joyraz Sheikh’s unbeaten century helped Bangladesh Under-19 team secure a draw in the first youth Test against hosts Sri Lanka Under-19 team in Dambulla on Friday.
Joyraz hammered undefeated 100 runs off 167 balls with 11 fours as Bangladesh youth side reached 289-8 in 83 overs before two capatain agreed for a draw.
Rain intervenes in second youth Test
Bangladesh Under-19 team reached 78-2 in 28 overs at the end of rain-interrupted second day of the first youth Test against hosts Sri Lanka Under-19 team in Dambula on Thursday. The hosts found them all out after managing a total of 216 – adding only 4 runs to their overnight score of 212-9 after rain delayed the start of second day’s play for several hours. Left-arm
Hosts down but not out
Bangladesh national football team left Sylhet on Friday dejected but determined to make it to the semi-final of the Bangabandhu Cup by beating Sri Lanka in their final group-A match on February 2. The 0-1 defeat against a youthful Malaysian side on Thursday left the home side in a must-win situation against Sri Lanka who take on Malaysia today at the Sylhet District Stadium.
Thailand edge Singapore in thrilling contest
Thailand Under-23 team got off to a winning start in the Bangabandhu Cup football tournament when they beat a spirited Singapore Under-23 team 3-2 at the Sylhet District Stadium on Friday. Thailand, who are the second top ranked team in the tournament, led the first half 2-0 before Singapore leveled the margin within eight minutes into the second half. But Thai skipper
Rain intervenes in second youth Test
Bangladesh Under-19 team reached 78-2 in 28 overs at the end of rain-interrupted second day of the first youth Test against hosts Sri Lanka Under-19 team in Dambula on Thursday. The hosts found them all out after managing a total of 216 – adding only 4 runs to their overnight score of 212-9 after rain delayed the start of second day’s play for several hours. Left-arm spinner
Youthful Malaysia stun hosts
Malaysia Under-23 team shocked Bangladesh national side 1-0 in the opening match as the third edition of the Bangabandhu Gold Cup got off to a low-key start in Sylhet on Thursday. Malaysia Under-23 players celebrate their goal while a disappointed Bangladesh national team captain Mamunul Islam (L) looks on during the opening match of the Bangabandhu Gold Cup at
BB eyes 15.5pc pvt sector loan growth, political unrest a risk
Monetary Policy For January-June
BB eyes 15.5pc pvt sector loan growth, political unrest a risk
Bangladesh Bank on Thursday announced the monetary policy for the January-June period of the financial year 2014-15, keeping unchanged the private sector credit growth at 15.50 per cent despite a sluggish credit demand from the businesspeople due to the recent spate of political violence.
The central bank earlier in July last year set the private
Export orders slow down due to continuing blockade: Tofail
Orders from the foreign buyers for Bangladeshi export goods have slowed down, thanks to the wrong signals they are getting about the country for the non-stop blockade imposed by the BNP-led political alliance to unseat the ruling party. A senior minister of the cabinet on Thursday came up with the disclosure on the 24th day of the blockade enforced by BNP to press home
Import orders dwindle again in Dec amid political unrest
The country’s import orders decreased by 7.03 per cent in December 2014 against a 5.23-per cent growth in November as the businesspeople again adopted a go-slow policy to business expansion due to the recent spate of political unrest and uncertainty, said officials of Bangladesh Bank.
According to the BB data released this week,
BSEC scrutinising MFs’ assets to check misuse by AMCs
The Bangladesh Securities and Exchange Commission has started scrutinising the assets of the mutual funds as the commission is suspecting unlawful use of the assets by some asset management companies. In December last year, the capital market regulator issued letters to the custodians of mutual funds asking the entities to submit details of the MFs’ assets under their
Dhaka stocks revert to negative zone
Dhaka stocks reverted to negative zone on Wednesday after rising in the previous trading session amid volatile trading due to investors’ skepticism about the market prospect. The key index of Dhaka Stock Exchange, DSEX, fell by 0.19 per cent, or 9.46 points, to close at 4,747.63 points on the day. Share prices of two-third traded scrips fell on the day as investors were uncertain
BTRC forms committee to formulate DTH guidelines
The country’s telecom regulator has decided to formulate guidelines for direct-to-home service, a television channel distribution technology, as the two DTH licensees cannot start their operations due to lack of relevant rules. The DTH is a digital satellite television distribution service which is done directly to end users using wireless technology, eliminating the need for any
No headway in Pakistan series
The Bangladesh Cricket Board could not make any serious headway regarding planned tour of Pakistan despite discussing the matter on the sideline of an ICC meeting in Dubai, said an official on Wednesday. Bangladesh, according to the present FTP, are supposed to host Pakistan for two Tests, three ODIs and a T20 between April 10 and May 7. But Pakistan Cricket Board
Metro, Ctg, Rangpur ease into win
Dhaka Metropolis and Khulna got off to a flying start in the National Cricket League as they defeated Rajshahi and Sylhet by huge margin on the fourth and final day of the opening round on Wednesday. Dhaka defeated Rajshahi by 285 runs while Khulna trounced Sylhet by an innings and 178 runs in their respective matches at two BKSP grounds. In the other match at Fatullah,
Tamim joins Tigers
Bangladesh national cricket team will be eagerly waiting to watch the development of Tamim Iqbal in the upcoming days ahead of the ICC World Cup after the opener joined the team in Brisbane on Wednesday. Tamim, who had a meniscus operation on his left-knee, travelled separately in Australia in order to see his physician in Melbourne to assess his condition before joining the