Business

Bad loans, the worst category of defaulted loans, in the banking sector increased by 23.47 per cent to Tk 39,413.53 crore in the first six months of this year due to scheduled banks’ failure in recovering classified loans amid dull business. According to the latest Bangladesh Bank data,

The prices of vegetables increased on the retail market in the city over the week ending Friday flash flood in different parts of the country caused supply shortage. Traders said due to heavy rainfall of last couple of days many vegetables fields went under water in the different districts, causing the shortage of the items.

As many as 1,222 faintings and three deaths were reported in garment factories in Cambodia’s key industrial zones so far this year, surpassing those reported throughout 2013, a local trade union said Thursday, accusing the plants of flouting laws that protect working conditions, reports Radio Free Asia. The faintings between January and August were much

The Dhaka Stock Exchange has set fresh timeframe to introduce its new automated trading system by extending the deadline by another two months as the bourse finds it difficult to finish the task by October this year on some technical grounds. ‘The timeframe to introduce the new automated trading

The labour ministry has taken an initiative to look into the closure notice of Tuba Group factories under Section 13(1) of the Bangladesh Labour Act to see whether the Section is applicable for the factories. The Section stipulated that ‘the employer may, in the event of an illegal strike by any section or department of any ... Read more

House Rent Deposit In Bank Accounts NBR exempts owners from maintaining tenants’ register The National Board of Revenue further relaxed the rules for house rent collection through banks exempting house owners from maintaining a separate register containing particulars of tenants, according to a circular issued on Thursday. House owners, however, may maintain such register

The member-turned-shareholders of the demutualised Dhaka and Chittagong stock exchanges will have to pay 15 per cent tax on profits when they sell their shares of the bourses, according to a circular of National Board of Revenue. The profit will be calculated by deducting the original acquisition price of shares of the bourse from the selling ... Read more

Goldman Sachs on Thursday expressed willingness to raise funds for Bangladesh from international bond market as the government is toying with the idea for the last several years to implement development projects amid shrinking foreign aids. Three visiting officials of the US-based multinational

Dhaka stocks remained negative for the second trading session on Thursday, the last trading session of the week, due to profit taking sell-offs by the second half of the session. The key index of Dhaka Stock Exchange, DSEX, finished flat at 4,547.05 points, shedding 0.14 per cent or 6.81 points. Turnover of the bourse declined to

Ten scheduled banks on Thursday signed participant agreement with Bangladesh Bank for giving loans to marginal and landless farmers, who have bank accounts with Tk 10 deposits, from the central bank’s Tk 200 crore refinance fund. The banks made the deal at the central bank

Mobile phone operator Grameenphone launched the Bangladesh chapter of Telenor Youth Summit 2014 on Thursday. GP officials said this was the second year of the event where youth from across the globe would join a youth summit in Oslo, Norway in December. ‘This initiative was driven by the vision of empowering the society with technology. Through

Usual Share Price Hike Probe bodies on Far, Shahjibazar get more time The Bangladesh Securities and Exchange Commission has extended time for the two investigation committees which were formed to probe unusual share price hike of FAR Chemical Industries and Shahjibazar Power Company. ‘The commission has increased the time for investigating unusual share price hike of ... Read more

Businesses continue to show low appetite for loans The country’s private sector credit growth stood at 12.29 per cent in last fiscal year, much lower than the Bangladesh Bank’s target of 16.50 per cent as the businesspeople were reluctant to expand their business by taking loans from banks due to political violence in the period, ... Read more

The government has selected 147 businesspeople for awarding commercially important person status for their outstanding contribution to export in 2012, commerce ministry officials said. They said that the ministry would soon hand over the CIP (export) cards to the selected people and the CIPs would enjoy various facilities for the next one year.

Indian auto maker Tata Motors on Wednesday launched its Nano brand car in Bangladesh market. Nitol Motors will market the Nano car in the country. Inaugurating the car launch function in Dhaka, commerce minister Tofail Ahmed urged Tata Motors to set up a manufacturing plant in Bangladesh. On the occasion

The central bank on Wednesday sent one of its general managers, Md Golam Mostafa, from inspection department to ‘leisure leave’ (forced leave) because of his ‘poor performance’. The BB took the decision at an inter-departmental meeting among inspection related departments at the central bank headquarters in the capital.

The parliamentary standing committee on commerce ministry came down hard on the top officials of the ministry for not framing any trade policy for the country. In reply to a query from the committee chairman Ali Ashraf, commerce secretary Hedayet Ullah Al Mamun told the meeting that the country has no trade policy

Tk 900cr Refinancing Scheme For Stock Investors BB yet to release 2nd tranche as govt lacks fund The Bangladesh Bank is yet to release the second tranche of Tk 300 crore of Tk 900-crore government’s refinance scheme for the affected small investors as there was no budget allocations for the scheme, finance ministry sources said. Due ... Read more

Dhaka stocks dropped on Wednesday with a decreased turnover due to investors’ scrip-wise moves amid profit-taking sell-offs. The key index of Dhaka Stock Exchange, DSEX, finished at 4,553.86 points, shedding 0.49 per cent or 22.50 points. Market operators said the market on the day started

The service tenure Md Mehmood Husain, president and managing director of Bank Asia, has been extended for another three years. Mehmood joined Bank Asia in August 2011 and played a significant role for the growth and restructuring of the bank, said a news release. A post graduate in economics from the University