Business

Commerce minister Tofail Ahmed on Tuesday asked traders to set a minimum and reasonable price of rawhide to be collected from sacrificial animals during forthcoming Eid-ul-Azha by October 3 so that people could get a fair price of the product. In a meeting with the traders at commerce ministry conference room the minister said that the ... Read more

The Insurance Development and Regulatory Authority has slapped a penalty of Tk 8 lakh on the Progressive Life Insurance Company and three of its top officials for not appearing before a IDRA hearing violating insurance rules. The regulatory authority made the decision in a meeting presided over by its chairman M Shefaque Ahmed on Sunday, said ... Read more

Dhaka stocks rebounded on Tuesday amid investors’ increased purchasing of bank and non-bank finance entities’ shares. The key index of Dhaka Stock Exchange, DSEX, rose by 0.47 per cent, or 23.96 points, to close at 5,074.30 points on the day. DSEX declined on Monday after the straight nine-trading session rise. Turnover of the bourse declined to Tk 879.76 ... Read more

150pc Decline In Portfolio Value BSEC allows trading for another 6 months The Bangladesh Securities and Exchange Commission for the second time has extended the suspension period over the rule 3(5) of the Margin Rules-1999 by another six months in a bid to allow investors with margin loans to trade shares despite 150-per cent decline ... Read more

The Hongkong and Shanghai Banking Corporation Limited has announced the appointment of Francois de Maricourt as the new chief executive officer of its Bangladesh operations, with effect from October 1, 2014 (subject to regulatory approval), said a news release. Francois joined the HSBC Group in 1994 and has since

Bangladesh Computer Samity nominee and former BCS president Md Sabur Khan has recently been elected as chairman of Global Trade Committee of World IT & Services Alliances based in the USA and representations of whole IT organisations, said a news release. Sabur won the position securing the highest number

Pvt sector credit growth plunges to 11.25pc in July The private sector credit growth in the country plunged in the first month of this financial year compared with that in the previous month as the businesspeople are yet to get confidence back to expand their business amid political uncertainty, said an economist and Bangladesh Bank ... Read more

Brick manufacturers will have to submit income tax payment certificates for renewing licences and taking environmental clearance certificates, officials of the National Board of Revenue said. The revenue board made the provision of submitting the certificates containing 12-digit online taxpayer identification number for getting the services from the current fiscal year, they said.

The National Board of Revenue on Monday extended the deadline for submission of income tax returns for individual taxpayers by one month, officials said. Taxpayers will be able to file their returns till November 2, they said. The original deadline is set to expire today.

Mohiuddin Ahmed has recently been re-elected chairman of Shahjalal Islami Bank Securities Ltd. He was re-elected unanimously at the 26th meeting of the board of directors of the company held in Dhaka on Sunday, said a news release. Md Sanaullah Shahid and Mohammad Younus were also elected vice-chairmen at the same meeting. Re-elected chairman Mohiuddin ... Read more

Dhaka stocks declined on Monday after the straight nine-day bull run due to investors’ profit taking share sell-offs ahead of the Eid-ul-Azha. The key index of Dhaka Stock Exchange, DSEX, declined to 5,050.34 points, shedding, 0.43 per cent or 21.85 points. DSEX had advanced 362.29 points in previous nine trading sessions. Turnover of the bourse ... Read more

Progress in implementation of annual development programme remained as usual slow and fell to five-year low at 5 per cent in the first two months of the current fiscal year, mainly because of low execution rate of big projects, officials and experts said. In July-August, 55 government ministries and divisions could spend only Tk 3,816 crore ... Read more

Industrial Credit 10 banks asked to cut defaulted loan ratio below 10pc Bangladesh Bank on Sunday asked 10 scheduled banks to decrease their industrial defaulted loan ratio below 10 per cent as their industrial classified loans are hovering over 15 per cent. The 10 banks are: Sonali Bank, Agrani Bank, Bangladesh Krishi Bank, Rajshahi Krishi ... Read more

The net investment in the national savings certificates and bonds increased by 228.71 per cent in the first two months of the financial year 2014-15 compared with that in the same period of the FY14 as clients invested heavily in the NSCs due to low bank deposit rates. According to the Directorate of National Savings ... Read more

The Bangladesh Securities and Exchange Commission on Sunday formed a three-member committee to look into the recent operation suspension, board reconstruction, recommencement of operation and trade pattern of the shares of United Airways, BSEC executive director Saifur Rahman told New Age. He said that the committee had been asked to submit report within

Brics Bank B’desh has no chance to become even shareholding member Bangladesh’s hope to become a founder member of the New Development Bank, initiated by BRICS nations, is set to come to a naught as the country has even little chance to get the status of a shareholding member of the proposed bank, officials at ... Read more

The National Board of Revenue is moving forward with an idea to introduce container tracking system in the country following an instruction given by finance minister Abul Maal Abdul Muhith though the customs officials consider the system less effective for traders. Officials said that finance minister instructed them

Local think-tank Unnayan Onneshan on Saturday said that the decrease in surplus of current account would create pressure on the country’s balance of payments. In the September issue of its monthly economic updates the UO said decline in import and import of capital machinery indicated that there was lack of entrepreneurship

Mobile operators urge BTRC to reconsider ‘uneven’ rate cut The bill settlement between the mobile telephone operators and the public switched telephone network operators has remain stuck since July after the telecom regulator lowered the rate for PSTN operators. The Bangladesh Telecommunication Regulatory Commission in April 2014 issued a directive which lowered the call termination rate ... Read more

The bourse makes Tk 135cr net profit The demutualised Dhaka Stock Exchange fell short of its target of achieving 28.50 per cent profit growth as the profit of the bourse grew by 16.87 per cent in the financial year 2013-14 compared with that in the FY 2012-13. The bourse in FY14 made net profit of Tk ... Read more