Cancellations of the import-related letter of credit increased by 24.94 per cent in the first half of the current fiscal year because of disagreement between importers and exporters and dull business situation in the country amid political uncertainty and unrest in the period, Bangladesh Bank officials said. The BB data released recently showed that LC cancellations ... Read more
Dhaka Mirror
AIMS submits plan to BSEC for MF conversion
AIMS of Bangladesh Limited has submitted an action plan to the capital market regulator for the possible conversion or windup of two close-ended mutual funds it manages as the tenure of the mutual funds will end in June 30 this year, AIMS of Bangladesh managing director Yawer Sayeed told New Age on Monday. The AIMS-managed two ... Read more
Commodity prices stay high
Prices of daily essentials including beef and mutton remained high in the capital’s kitchen markets over the week ending Friday as the ongoing blockade being enforced by the BNP-led alliance hurt the supply chain across the country. Beef was selling at Tk 340-Tk 350 a kilogram in the city’s kitchen markets on Friday while mutton was ... Read more
Dhaka stocks return to negative zone
DSE Weekly Review Dhaka stocks return to negative zone Dhaka stocks returned to the negative zone last week after a sharp rise in the previous week due to investors’ profit taking share sell-offs and scepticism about the market prospect amid fresh political tension. The key index of Dhaka Stock Exchange, DSEX, fell by 1.10 per cent, ... Read more
Marcia welcomes Tigers at Brisbane
Incessant rain, caused by tropical storm Marcia, welcomed the Bangladesh cricket team in Brisbane on Thursday as they are preparing to face hosts Australia in their second World Cup match. The category-five storm, accompanied by fierce wind, is expected to hit the Queensland coast this morning, making Saturday’s crucial match at the Gabba uncertain. The storm gust ... Read more
Aussies at Marcia’s mercy
Australia were left scratching the heads after tropical storm Marcia threatened to spoil their crucial World Cup match against Bangladesh, scheduled in Brisbane on Saturday. This was the match the Aussies were hoping to win easily to clear the way for quarter-finals but Marcia raised a fear that they might have to be contended with ... Read more
Russell thump Baridhara
Sheikh Russell Krira Chakra kicked off their Federation Cup campaign with style as they crushed out Uttar Baridhara Club with a huge 5-0 defeat at the Bangabandhu National Stadium on Thursday to confirm their berth in the quarterfinals. With Thursday’s result, Muktijoddha SKC also moved to the last eight along with Russell from the Group B ... Read more
Political unrest pushes up defaulted farm loans
The defaulted loans in the agriculture sector increased by 14.42 per cent in the first seven months of this financial year despite a downward trend in farm loan disbursement in the period as farmers failed to repay their loans for not getting fair prices of their products due to a supply chain disruption amid political ... Read more
Muhith agrees to raise VAT-free turnover limit to Tk 36 lakh
Finance minister Abul Maal Abdul Muhith has agreed to raise the value-added tax-free annual turnover threshold for traders to Tk 36 lakh from Tk 24 lakh, following recommendations from the VAT Act-2012 review committee, officials of the National Board of Revenue said. In a recent instruction to the revenue board, finance minister
Real estate sector suffers Tk 1,656cr in losses due to unrest, claims REHAB
Country’s real estate sector suffered losses of Tk 1,656 crore in the last 46 days due to a nonstop blockade and frequent hartals enforced by the BNP-led alliance since January 6, claimed sector leaders. The sector leaders at a press conference on Thursday demanded loan rescheduling facility for two years and waiver of interest on bank ... Read more
GSMA wants public consultation on spectrum auction guidelines
The Groupe Speciale Mobile Association (GSMA), a global association of mobile phone operators, has requested the Bangladesh government to carry out a public consultation of draft guidelines on the upcoming spectrum auction, said a Grameenphone press release on Thursday. ‘Such a process [public consultation] would allow all
Tigers crush Afghanistan by 105 runs
Mashrafee bin Murtaza led Bangladesh from the front to 105-run victory over Afghanistan as Bangladesh got off to a winning start in the World Cup 2015 in Canberra on Wednesday. Mashrafee finished with 3-20 helping Tigers dismiss the Afghans for 162 runs in 42.5 overs after half-centuries from Mushfiqur Rahim and Sakib al Hasan guided Bangladesh
Winning start for Jamal, MSC
Reigning champions Sheikh Jamal Dhanmondi Club and last season’s Independence Cup champions Mohammedan Sporting Club started their Federation Cup campaign with a winning note at the Bangabandhu National Stadium on Monday. Jamal thrashed Feni Soccer Club 4-1 in the second match of the day before Mohammedan managed a narrow 2-1 victory over Rahamatgonj MFS.
Bangladesh 8 places up in FIFA rankings
Bangladesh jumped eight places up to be placed 157th in the latest FIFA rankings, thanks to their 1-0 Bangabandhu Cup win over Sri Lanka last week. Apart from this match, the Bangabandhu Cup had no impact in FIFA rankings though the Bangladesh Football Federation had earlier branded it as a grade one tournament. The ranking of Malaysia, ... Read more
Mashrafe pledges Afghan win
Bangladesh cricket captain Mashrafe Bin Mortaza on Tuesday vowed to win their World Cup opener against Afghanistan. “We will play to win,” said the Tigers skipper at a press conference in Canberra. Asked about opener Tamim Iqbal, the fast bowler said, “Tamim is doing well. He is confident. We hope he will be able to play ... Read more
NZ made to pay for win over Scotland
ICC Cricket World Cup 2015 NZ made to pay for win over Scotland Scotland bowlers gave New Zealand a run for their money in the chase down of 142 runs in the 6th match of the World Cup 2015 under Pool A at University Oval in Dunedin. The Kiwis who thought of finishing off the ... Read more
4 gas cos `dodged’ Tk 19,594cr in taxes
Finds NBR, starts legal process to recover the money The country’s tax administration has demanded a total of Tk 19,594 crore from four major gas distribution companies, alleging that the companies dodged the amount in value-added tax and supplementary duty from 2009 to 2014. Officials of the National Board of Revenue told New Age that Titas ... Read more
Belgium set to become 8th billion-dollar export market this FY
Belgium is on course to become the new billion-dollar export market for Bangladesh in the current financial year 2014-15 riding on the moderate growth of readymade garments and frozen food products. Exports to Belgium in the first seven months of the FY15 grew by 9.01 per cent to $608.97 million against $558.59 million in the same ... Read more
SoBs asked to give farmers reprieve from certificate cases
BB advises to use persuasion in recovering defaulted farm loans Bangladesh Bank on Monday asked six state-run banks to give farmers relief from certificate cases by rescheduling their defaulted farm loans. The BB asked the banks not to file any fresh certificate case against farmers as the central bank gave importance on recovering the defaulted farm ... Read more
Airtel running WiFi service unlawfully: BTRC
Mobile phone operator Airtel is running a WiFi service after expiry of its authorised tenure violating the telecom rules, Bangladesh Telecommunication Regulatory Commission officials told New Age on Monday. Airtel, however, said that the BTRC approval for the WiFi service was given to a third-party — iConnect — and the operator had no regulatory concern in ... Read more