Business

Seeking BB Loan Biman MD asked to show cause for bypassing ministry Ministry of civil aviation has sought clarification from the Bangladesh Biman managing director after the latter corresponded with the Bangladesh Bank for loans bypassing the ministry, officials said. Biman MD Kevin John Steele, a UK citizen, has been made accused by the civil ... Read more

The world’s last operating passenger DC 10-30 aircraft that Biman Bangladesh Airlines owns will make its farewell flight for Birmingham today, spending nearly Tk five crore for the week-long round trip. The officials said the last flight of the 314-seater DC 10 will depart Hazrat Shahjalal International Airport for Birmingham at 8:30am today along with 23 ... Read more

Dhaka stocks advanced on Wednesday after a four-day fall as investors became optimistic after Bangladesh Bank governor Atiur Rahman in the previous day asked banks not to reduce capital market exposure all of a sudden, but gradually. The market started on a positive note on Wednesday and sustained the vibe throughout the session as investors became ... Read more

Mobile phone operator Robi Axiata and ONE Bank on Wednesday signed an agreement to facilitate the bank’s clients in getting ‘OK’ Mobile Financial Services, said a news release. Robi managing director and chief executive officer Supun Weerasinghe and ONE Bank managing director M Fakhrul Alam signed the agreement on behalf

Myanmar Bimstec Summit 4 negotiated trade deals not in agenda A number of agreements on trade and commerce already negotiated among BIMSTEC member states have not been included in the agenda of the 7-nation summit of the economic cooperation group, slated to be held in Myanmar on March 4. Prime minister Sheikh Hasina is expected to ... Read more

Bangladesh Bank on Tuesday asked commercial banks to establish a special unit for recovering the defaulted loans which were rescheduled on political consideration in the last quarter of the 2013, said BB officials. The BB instruction came in a meeting on the day with managing directors of all scheduled banks presided over by BB governor Atiur ... Read more

Safety experts appointed by the European retailers will start today inspection of around 1,500 Bangladesh garment factories from where they procure products, said an official of the retailers group on Tuesday. The Accord on Fire and Building Safety in Bangladesh, the platform of EU retailers, has appointed four international firms for assessment of fire, electrical

Experts and garment factory owners on Tuesday put emphasis on formulating rules and regulations for the overseas engineers who would inspect garment factories under the initiatives of global retailers. They said that there should be a provision for the foreign engineers of taking approval from Institution of Engineers Bangladesh or any other professional institutions

Service Quality Standards Telcos for relaxing of BTRC conditions The mobile phone companies have demanded relaxing the standards of several service quality parameters set by the telecom regulator including the record keeping provision to three months from existing three years. The Association of Mobile Telephone Operators of Bangladesh on Tuesday sent a letter to the Bangladesh ... Read more

Bangladesh Securities and Exchange Commission on Tuesday fined five brokerage houses and investors Tk 28 lakh for violation of different securities rules and irregularities in share transaction. The BSEC took the decision in a regular commission meeting presided over by its chairman M Khairul Hossain. The five brokerage houses are : Be Rich

2013 defaulted loans decrease by 5pc Defaulted loans in the banking sector decreased by 5.01 per cent in 2013 year-on-year as banks’ rescheduling spree in the last quarter of the year on political consideration brought down the defaulted loans by Tk 16,137.09 crore in only three months. Bangladesh Bank officials told New Age on Monday that ... Read more

Meeting With Accord Owners seek time, fund for RMG factory relocation Garment factory owners has sought five years to shift their production units from shared and rented buildings after a platform of European Union retailers asked them to relocate their units soon due to safety concern. At a meeting with the representatives of EU Accord on ... Read more

Business Premises, Chambers Traders, professionals asked to display TIN certificates The National Board of Revenue has asked business houses, shops and professional taxpayers to display their taxpayer identification number certificates at a visible place of business premises, officials of the revenue board said. They said that the NBR took the initiative to smoothly carry out the ... Read more

The Bangladesh Telecommunication Regulatory Commission has backtracked from approving any service or tariff of the telecom operators without prior consent of the telecom ministry. According to BTRC officials, since last week they have been only forwarding the service and tariff approval application to the telecom ministry

Telenor Group, the parent company of Grameenphone, has projected that around 50 million Bangladeshi children will access the internet through mobile phone for the first time in the next one decade. A Telenor press release issued on Monday said the group was projecting around 500 million children in Asia would be introduced to internet in the ... Read more

Cellular phone operators of the country are going to get access to the Election Commission’s database by March next to verify the subscriber’s information before activating new connections, said officials. They said telecom regulator has almost finalised different issues with the Election Commission for using the database of the national ID. Talking to the news

Bangladesh Securities and Exchange Commission has planned to introduce commodity exchange and a clearing corporation after the completion of all the process of demutualisation of Dhaka and Chittagong stock exchanges, BSEC officials said. Commodity exchange is a process for buying and selling commodities for future delivery, while clearing corporation

Siddiqur says while taking DSE chairman’s office Chairman of the first demutualised board of the Dhaka Stock Exchange, former justice Siddiqur Rahman Miah, on Monday said that implementing the objectives of the demutualisation and ensuring transparency and accountability in the bourse’s operation would be the key challenges for him and the new board. ‘I have already ... Read more

Dhaka stocks declined for the third trading session on Monday in volatile trading as investors remained uncertain about the market trend after the formation of the bourse’s first demutualised board that includes seven independent directors. The benchmark general index of Dhaka Stock Exchange, DSEX, decreased to 4,684.07 points, shedding 0.63 per cent

Commerce minister Tofail Ahmed on Monday said garment factory owners should be sympathetic to their workers and should not terminate them on silly grounds, as they make export quality items of the country. ‘The garment factory owners should be more sympathetic to their workers as they fetch the country’s biggest export earning,’ he said while speaking ... Read more