Business

Strike followed by Eid vacation disrupts supply Rice prices went up by Tk 2-4 a kilogram over the last couple of weeks as the city’s market saw a supply shortage of the staple food because of recent general strike called by the opposition alliance followed by a long vacation on the occasion of Eid-ul-Azha, traders ... Read more

Opposition’s Strike Govt meeting with dev partners, lenders called off A meeting scheduled for tomorrow between the government and the local consultative group comprised of representatives of development partners and lenders communities was called off on Saturday, officials said. The 60-hour general strike called by the Bangladesh Nationalist Party-led alliance starts at 6:00am tomorrow. The meeting was

Traders suspend import thru Hili land port Bangladeshi importers on Saturday suspended onion import through the Hili land port as India increased the export price of the item to $1,150 a tonne. On September 19, India had increased the export price of the item to $900 a tonne from $650 a tonne. Earlier, the Indian government had ... Read more

Dhaka Stock Exchange members on Saturday approved the demutualisation scheme of the bourse and a 24-member interim board, with all existing board directors, which will oversee the demutualisation process till formation of the final board in 90 days. The approval came in an extraordionary

Bangladesh needs effective development of the existing quality infrastructure to boost its export, experts said in a workshop in Dhaka on Saturday. To ensure compliance with quality and safety requirement in international trade the country needs effective development of the existing quality

The Trading Corporation of Bangladesh on Sunday started selling onion on the open market across the country at Tk 65 a kg. TCB officials said that the corporation would sell the item at 174 spots across the country. They, however, said sales could not be started in full swing from all the spots on the day ... Read more

Sohail RK Hussain has recently taken charge of City Bank as its new managing director and chief executive officer. Prior to this, he was additional managing director and chief business officer of the bank, said a news release. Sohail obtained his MBA from the IBA, Dhaka University. He started his career as a management trainee in ANZ ... Read more

Dhaka stocks advanced last week after a four-week bear run with an increase in turnover as investors became active in the week amid hopes for a dialogue between the two major political parties over polls-time government. The market, however, remained volatile late last week as the dialogue hopes faded with the political parties showing no sign ... Read more

Aimed at building awareness on internet services among the people, a countrywide internet mela (fair) would begin on November 16. Cellular phone operator Robi in partnership with the Ministry of Information and Communication Technology, the Ministry of Information, and the Ministry of Health and Family Planning has organised the month-long fair.

Federation of Bangladesh Chambers of Commerce and Industry on Saturday urged the government to restrict the import and distribution of formalin in the country by allowing only the Trading Corporation of Bangladesh to engage in its import and distribution. The demand was raised at a programme

The net investment in the national savings certificates and bonds increased by 362.88 per cent in the first quarter of the current financial year 2013-14 compared with that in the same period of the FY13 because of a dull investment situation amid political unrest and a lower rate on the banks’ savings products. According to the ... Read more

NBFIs show mixed performances Twenty-two out of 30 listed banks with the capital market posted a lower profit in the first nine months of this year compared with the corresponding period of 2012 due to existing poor business environment and a Bangladesh Bank’s directive to keep more provisions against defaulted loan. On the other hand, ... Read more

Bangladesh Founda-tion for Tourism Develop-ment (BFTD) and Association of Travel Agents of Bangladesh (ATAB) in collaboration with Ministry of Civil Aviation and Tourism, Bangladesh Tourism Board, Federation of Bangladesh Chambers of commerce and Industry, Bangladesh Inbound Tour operators Associ-ation and Bangladesh International Hotel Association will

The prices of red lentil, sugar, potato and ginger increased on the city’s kitchen markets over the week ending Friday. The prices of some vegetables, however, decreased in the markets with the increase of supply of winter vegetables. Traders said that the prices of local variety of red lentil and potato increased in both wholesale and retail markets ... Read more

United Commercial Bank Limited as the lead arranger raised $23.03 million under the Investment Promotion and Financing Facility (IPFF) of Central Bank funded by International Development Association (IDA) of World Bank, says a press release. Bangladesh Bank took this praiseworthy initiative and disbursed a fund of $19.91 million which will be utilized

Citigroup Inc, the US bank with the biggest international business, said on Friday that US government agencies and authorities from other jurisdictions are investigating its foreign-exchange trading, reports Reuters. The bank has put its chief currency dealer in London on leave, it was reported earlier this week, in an action that mirrors developments at a number ... Read more

Anti-Money Laundering Steps Realtors, lawyers, accountants also under BB watch The Bangladesh Bank has asked major non-financial organisations and professional bodies to keep their clients’ transaction records in the form of ‘Know Your Client’ in a bid to check money laundering and terrorist financing. The major non-financial organisations and professional bodies are Institute of Chartered Accountants ... Read more

The government borrowed some Tk 3,429.39 crore from the banking sector in just 19 days between October 2 and October 21 of this fiscal year in a bid to fulfill its election-related agendas ahead of the national polls, said officials of the Bangladesh Bank. They said that the government is now receiving

Sim Registration BTRC to launch retailer management guideline for telcos Bangladesh Telecommunication Regulatory Commission is drafting a guideline for distributors and retailer management by the mobile phone companies for effective implementation of subscriber registration process. BTRC officials said the guideline will cover different aspects of subscribers registration by introducing central database of subscribers, handset

H & M, the Swedish multinational retail-clothing company and the world’s second-largest clothing chain, called for the Bangladesh government to increase the wages of the garment workers as this is the key issue for the development of the industry. Head of Media Relations at H&M Camilla Emilsson Falk on Thursday sent a comment to New Age ... Read more