Business

Bangladesh Securities and Exchange Commission on Tuesday cancelled the registration of Sandhani Life Growth Fund for failing to submit the draft of public offering prospectus in time. The decision was taken at a regular commission meeting presided over by BSEC chairman M Khairul Hossain. A BSEC press release said the asset

The mobile phone operators have opposed the latest amendment to the broadband wireless access service guideline which allowed frequency mobility for the WiMAX operators. They also said the amendment would create uneven licensing regime in the country. In a letter to posts and telecommunications

The state-run eight banks on Monday made a decision that from now on they would give rate of interest at the highest 11.50 per cent on their term deposit products instead of 12.50 per cent. The decision came from a meeting of managing directors and chief executive officers of four state-owned commercial banks and four ... Read more

The number of active mobile phone subscribers of the country crossed the 11-crore mark for the first time in September as the mobile operators added more than 13 lakh new subscribers in the month. Among the six companies Robi and Citycell witnessed decline in subscriber number while four others, Grameenphone, Banglalink, Airtel and Teletalk,

The Export Import Bank of the United States has approved a loan of $285 million to Biman Bangladesh Airlines for purchasing two Boeing-777-300ER aircraft, civil aviation and tourism minister Faruk Khan told New Age on Monday. The board of directors of the bank made the decision at a meeting on October 31, said the minister. The US ... Read more

The Bangladesh Securities and Exchange Commission on Monday initiated an investigation into Bangladesh Jute and Commodity Exchange Limited, a private company which has taken a project to run commodity exchange without taking permission from the stock market regulator, BSEC sources said. A BSEC senior official said Saifur Rahman, an executive

The Bangladesh Securities and Exchange Commission on Monday allowed the Investment Corporation of Bangladesh to convert its eight close-ended mutual funds into open-ended ones after the expiry of their tenure on December 31. The capital market regulator gave the approval following an application from the ICB, BSEC officials said.

The prices of the vegetables increased in the city’s retail markets on Monday as a result of supply shortage due to the general strike enforced by the opposition alliance, traders said. Prices of most of the vegetables increased by Tk 10-Tk 15 a kg in the different markets in the city. The prices of aubergine, cucumber, ... Read more

Dhaka stocks advanced for the third trading session on Monday with a higher turnover thanks to soaring prices of banks’ shares and optimism fuelled by media reports that foreign investors’ participation had increased in October. The benchmark general index of Dhaka Stock Exchange, DSEX, increased to 4,085.20 points, gaining 2.30 per cent,

Twitter Inc boosted the price range for its initial public offering to $23 to $25 per share on Monday, as the microblogging network now seeks to raise up to $1.75 billion, reports Reuters. The previous range was $17 to $20 per share. Twitter also said it had received a letter

Govt Borrowing From Bb Cap on wholesale borrowing thru overdraft recommended The government’s cash and debt management committee has made proposals to impose cap on government borrowing from Bangladesh Bank through overdraft, said official of the central bank. As per the CDMC proposals, the limit of government borrowing through the overdraft should not cross Tk 4,000 ... Read more

Sim Replacement Tax NBR to seek time extension from HC to solve dispute The National Board of Revenue is going to seek time extension from the High Court for solving the dispute with four mobile phone operators over SIM replacement tax worth Tk 3,100 crore, officials said. The revenue board has to seek the time extension ... Read more

BSEC is unaware of the jute ministry let-go: officials A private company Bangladesh Jute and Commodity Exchange Limited has initiated a pilot project to run commodity exchange. BJCE chief investment officer Rahman Habib told New Age that the exchange would start its business soon. ‘The exchange will conduct the pilot project. We have already got approval from ... Read more

Foreign investment on the Dhaka Stock Exchange jumped by 170 per cent in October, compared with that in a month ago as a significant fall in share prices amid political unrest attracted foreign investors, market operators said. The DSE received Tk 228.35 crore in net foreign investment in October against Tk 84.64 crore in September. In October, ... Read more

Mobile phone operator Robi Axiata Limited has appointed Supun Weerasinghe, a Sri Lankan national, as its new chief executive officer with effect from January 1 next year. Current CEO Michael Kuehner will retire from full-time corporate services in December but will serve as a director in the company, a news release issued

The Global Social Business Summit 2013 will be held in Kuala Lumpur, Malaysia on November 7-9 with ‘Social Business to Change the World’ as its theme. Nobel laureate Muhammad Yunus will present the keynote speech at the opening of the summit while the welcome address will be delivered by Nurfarini Daing,

Repayment Of Depositors’ Money BB gives ICB Islamic Bank another time extension Bangladesh Bank on Sunday has again extended the deadline for one year more for repayment of the depositors’ money under the Oriental Bank (reconstruction) Scheme as the ICB Islamic Bank failed to repay the money in due time, said officials of the central ... Read more

Dhaka stocks advanced for the second trading session on Sunday as some state owned-entities were active on the trading floor to keep the market afloat. The benchmark general index of Dhaka Stock Exchange, DSEX, advanced to 3,993.33 points, gaining 0.64 per cent, or 25.60 points. DS30,

Bangladeshi traders resumed import of onion through the Hili land port on Sunday by paying the increased price set by India considering its demand in the local market. The importers on Saturday suspended onion import after India had increased the export price of the item to $1,150 a tonne from $900 a tonne,

To work only for SME sector Bangladesh Bank has recently given recognition to a new credit rating agency to compute rating of the industrial units of small and medium enterprises. This is for the first time that the central bank has given recognition to a rating agency that will work only for SME sector. The new ... Read more