The planning ministry on Sunday asked the project directors under the annual development programme to surrender the allocated funds which are likely to remain unspent by the current financial year 2014-15, officials said. The portion of total allocation which may remain unused in the FY15 will have to be surrendered to the planning ministry by March ... Read more
Month: February 2015
Dhaka stocks fall on profit-taking sales after 8-day rise
Dhaka stocks fell marginally in volatile trading on Sunday, the first trading session of the week, due to profit-taking share sell-offs by investors after an eight-session rise. The key index of Dhaka Stock Exchange, DSEX, fell by 0.21 per cent, or 10.54 points, to close at 4,831.17 points on Sunday. The market ended negative amid
Political unrest to put terrible impact on Bangladesh economy
Canadian high commissioner says at briefing on Showcase Canada 2015 Canadian high commissioner Benoit Pierre Laramee on Sunday expressed his concern over the ongoing political unrest in Bangladesh and said the situation would put a terrible impact on the country’s economy and business activities. The envoy was speaking at a press conference on the Showcase Canada ... Read more
Tigers take inspiration from language martyrs
Members of the Bangladesh cricket team took some inspiration from the language movement martyrs during their visit to the resident of Bangladesh High Commissioner in Canberra on Saturday. High Commissioner Kazi Imtiaz Hossain on Saturday hosted a reception for the Tigers, who are in Canberra ahead of their February 18 World Cup opening match at the ... Read more
BTRC now goes for appointing third party as telcos delay
Mobile Number Protability BTRC now goes for appointing third party as telcos delay The country’s telecom regulator has now decided to implement the mobile number portability service through a third-party model as the mobile phone operators have been delaying the process since January 2014. The regulator will now choose a vendor for the job and they ... Read more
Growers demand more duty on tea import to end ‘uneven competition’
The country’s tea growers have demanded duty increase on import of tea by more than 25 percentage points to protect the local producers from ‘uneven competition’ with the imported one. The Bangladesh Tea Association earlier this month placed its demand to the finance and commerce ministries and the National Board of Revenue seeking an increase of ... Read more
Businesses prefer political stability to incentives: MCCI
‘Political unrest to hit export, remittance’ Country’s business community prefers political stability and sound business environment to financial incentives in order to bring momentum in the economic activities, said the Metropolitan Chamber of Commerce and Industry on Saturday. The chamber in the economic review for Q2 of the financial year 2014-15 said restoring confidence among the ... Read more
Dhaka stocks recoup after 4-week fall
Turnover also increases amid lacklustre strike Dhaka stocks advanced significantly last week after a four-week fall due to support from some state-owned entities and lukewarm strike enforced by the BNP-led alliance. The key index of Dhaka Stock Exchange, DSEX, closed at 4,841.72 points on Thursday, adding 3.34 per cent or 156.68 points over the week. Of ... Read more
12 banks hold 70pc of total defaulted loans
Twelve scheduled banks including eight state-run banks held 70.06 per cent of the total defaulted loans in the banking sector as of December 31, 2014 as they disbursed huge amount of loans unlawfully to their clients, said Bangladesh Bank officials. Three out of the 12 banks also failed to keep required provision against their disbursed loans ... Read more
BSEC finds abnormal price rise linked to margin loan facility
Newly-Listed cos’ Shares BSEC finds abnormal price rise linked to margin loan facility The Bangladesh Securities and Exchange Commission has found that the margin loan facility for buying the newly-listed companies’ shares is playing a key role in abnormal rise in the share prices of the companies, BSEC officials said. They said the commission, based on ... Read more
Benetton faces pressure over Rana Plaza victims’ fund
10 lakh people call on the Italian co to contribute $5m Italian fashion brand Benetton is facing renewed pressure to contribute to a compensation fund for victims of the Bangladesh’s Rana Plaza factory disaster in which more than 1,100 people died, reports The Guardian. Almost 1 million (10 lakh) people have signed a petition on Avaaz, ... Read more
Prices of beef, mutton go up in city
The prices of beef and mutton went up in the capital’s kitchen markets over the week ending Friday. Traders said that the market experienced a supply shortage of cows and goats due to interrupted transportation caused by the ongoing non-stop blockade and frequent hartals (general strike) called by the BNP-led opposition alliance across the country. The prices ... Read more
School students show maturity in arts
Judging by their looks, they are still in their teens, some of them have yet to cross the threshold of O Levels, but the level of maturity seen in their paintings and drawings is hardly a testimony to their age or academic credentials. These young painters – 28 of them, all students of either O ... Read more
CA XI give Tigers a reality check
Bangladesh national cricket team were given an idea about what to expect in Down Under as Cricket Australia XI comfortably defeated them by five wickets in their first practice match at the Allan Border ground in Brisbane on Tuesday. Tigers were all out for 232 in 45.4 overs that just proved to be not enough as ... Read more
Pakistan hit back at Nazmul
Pakistan on Tuesday claimed that their planned visit in April this year is their tour to be hosted by Bangladesh and thus profit generated by it, is needed to be shared. The Pakistan Cricket Board made their position clear through a statement on Tuesday, clarifying the Bangladesh Cricket Board president Nazmul Hasan, who
Footballers draw flak for ‘finger on mouth’
Bangladesh football team’s celebration after scoring their only goal against Sri Lanka in their last group match of the Bangabandhu Cup drew wide criticism on Tuesday as it came against the spirit of the game. The players put their fingers on the mouth before the cameras — apparently asking their critics to shut their mouth — ... Read more
Hemanta pleads for more matches
Bangladesh’s goal scoring hero against Sri Lanka Hemanta Vincent Biswas asked the clubs officials to give the local strikers more playing chances in domestic matches. The 18-year old attacking midfielder, who celebrated his first goal in his fourth international appearances, claimed that if the strikers are given enough opportunities
Thais set up B’desh semi
Thailand Under-23 team set their semi-final date with hosts Bangladesh after ousting tournament favourites Bahrain Under-23 team with a 3-0 in their final group match at the Bangabandhu National Stadium on Tuesday. With the win, Thailand finished as the Group B champions by winning their both matches and made sure that group’s other team Singapore also ... Read more
Capital machinery import soars in H1 despite dull business
The imports of capital machinery and rice increased by 28.54 per cent and 148.63 per cent respectively in the first half of the current financial year 2014-15 compared with the corresponding period of the FY14. Bangladesh Bank officials and experts said there was no logical cause of increase in the capital machinery import in the first ... Read more
Food inflation rises due to unrest
Food inflation again started to rise just after falling in December and stood at 6.07 per cent in January from that of 5.86 per cent in December due mainly to the ongoing blockades and hartals causing severe disruption in transportation of essential food items. Point-to-point inflation, however, continued to drop