Business

Minister says at CSE internet trade fair State minister for finance and planning MA Mannan on Wednesday said Financial Reporting Act would be passed in the next parliament session in a bid to ensure more transparency in the financial sector. Mannan said while addressing the inauguration ceremony of a two-day CSE internet trade fair being ... Read more

Govt to give subsidy for CETP The government will give subsidy to the foreign investors in the proposed special economic zones to encourage establishment of central effluent treatment plants, officials said. Up to 50 per cent cost of the CETP would be provided by the government for ensuring safeguard of the country’s environment as part ... Read more

Bangladesh Krishi Bank managing director Abdus Salam on Wednesday was appointed managing director of Janata Bank Limited. Obayed Ullah Al Masud, deputy managing director of Agrani Bank Limited, was on the same day appointed managing director of Karmasangsthan Bank. Bank and Financial Institution Division issued notification in this connection in the afternoon

The government’s borrowing from the banking system increased by 269.92 per cent in the first three months and nine days of the current financial year compared with that in the same period of FY14. The government resorted to such increased borrowing from the banking source to pay salaries and festival bonus to its employees on ... Read more

The Alliance for Bangladesh Workers Safety, comprised of 26 North American retailers and brands, has said that the Bangladesh government must decide whether or not it would be responsible for the country’s RMG sub-contractors. The North American buyers’ forum further said that the government should also decide how the RMG sub-contractors would be regulated

Microsoft is ditching the Nokia brand name from new devices, less than a year after acquiring the Finnish mobile firm, reports BBC Online. New Nokia Lumia smartphones will instead be known as Microsoft Lumia, the company said. Nokia’s non-mobile division, which is not owned by Microsoft, will continue to use the name. The mobile operation ... Read more

Dhaka stocks declined sharply on Wednesday after increasing in the previous trading session as the unexpected profit fall in two companies under the bank and cement sector made investors dissatisfied. The key index of Dhaka Stock Exchange, DSEX, declined to 5,170.15 points, shedding 1.21 per cent or 63.66 points. Market operators said that investors dissatisfied ... Read more

Eu Study On Trade Policy Bilateral FTA with India to weigh on B’desh economy A bilateral free trade agreement with India would benefit India significantly and adversely impact the Bangladesh economy as India has the comparative advantage on export, reveals a study report of the European Union. The report, titled ‘Comprehensive Trade Policy’, said an ... Read more

Retail sales in the country reached US$ 12 billion during the last two Eid festivals driven by strong domestic demand and consumption, according to a World Bank estimate. The international lending agency on Tuesday gave the estimate while releasing its latest Bangladesh Development Update-October, 2014 at its Dhaka office.

The share prices of Shahjibazar Power Company hit the roof for the second trading session on Tuesday after the trading of the shares of the company resumed at the Dhaka Stock Exchange on Monday after a trade suspension since August 11 this year. The company’s share prices surged despite the trade suspension and a downward ... Read more

Embezzlement Of Tk 30cr Prime misses BB deadline again to refund jobseekers Prime Bank is yet to refund the undertaking money its mobile banking service solution provider SMG Infocom Ltd had collected from 2,500 jobseekers for which the central bank had set the deadline of September 30. A BB official told New Age on Tuesday ... Read more

Country’s export earnings from Japan dropped by 4.36 per cent to $230.72 million in the first quarter of the current fiscal year compared with that of $241.26 million in the same period of the financial year 2013-14 due to negative growth in footwear and readymade garment export. Exporters said that the negative growth to the ... Read more

A two-day internet trade fair of the Chittagong Stock Exchange begins in Dhaka today in a bid to make internet-based stocks trading familiar with the capital market investors. The investors will get detail information and demonstration on how they can be able to trade by using devices like mobile phone, smartphone, tab, laptop and desktop

Dhaka stocks bounced back on Tuesday with increased turnover as investors opted to purchase shares in cheap considering last three trading sessions’ freefall amid support from some state-owned entities. The key index of the Dhaka Stock Exchange, DSEX, rose by 1.73 per cent, or 89.31 points, to increase at 5,233.82 points. Market operators said the ... Read more

Farm Loan Disbursement By Pvt Banks Farmers pay double the interest rate set by BB Many farmers who take agriculture loan from the private commercial banks are paying almost double the interest rate set by the Bangladesh Bank, the central bank officials alleged. BB data showed that private and foreign commercial banks had disbursed Tk ... Read more

EU commissioner urges Bangladesh govt European Union commissioner Laszlo Andor on Monday urged the Bangladesh government to formulate rules under the Labour Act to ensure effective implementation and enforcement of the amended labour law. The commissioner in a statement on a follow-up meeting of Bangladesh Sustainability Compact held in Brussels said after signing the agreement, ... Read more

Bangladesh Bank on Monday gave 10 more days to the three banks which failed to reduce the number of directors from a single family to two in their respective boards in accordance with the bank company act. The three banks are National Bank, Premier Bank and The City Bank. The BB on Monday issued separate ... Read more

Bangladesh Garment Manufacturers and Exporters Association has been lobbying the National Board of Revenue for extending the special income tax rate facility for readymade garment exporting industry for five more years. The revenue board withdrew the facility of reduced income tax rate at 10 per cent for the sector from the current fiscal year to ... Read more

Company share price hits roof after trading suspension withdrawal Shahjibazar Power Company inflated its net profit by Tk 11.68 crore in its financial statement for the July 2013-March 2014 period, finds a Bangladesh Securities and Exchange Commission special audit. Following the finding, the capital market regulator decided to take action against Shahjibazar for its failure ... Read more

Dhaka stocks declined for the third trading session on Monday in volatile trading as investors, panicked by the previous trading session’s freefall, continued selling shares. Investors also said that merchant banks and large-scale investors increased share sales with an intention to pull down the share prices to get shares cheap.