Business

Bangladesh Securities and Exchange Commission on Tuesday tightened the initial public offering and rights shares rules in a bid to curb misuse of funds by the listed companies. The BSEC also withdrew 30-day share selling obligation for the placement shareholders, other than sponsor shareholders or directors, after

Independent Director Selection Farashuddin, Mustafiz on DSE list of 14 for 7 places The Dhaka Stock Exchange on Tuesday submitted a list of 14 individuals including former Bangladesh Bank governor Farash Uddin Ahmed and Centre for Policy Dialogue executive director Mustafizur Rahman to the Bangladesh Securities and Exchange Commission for choosing seven independent directors of ... Read more

The country’s imports increased by 11.59 per cent in the first six months of the current financial year 2013-14 compared with that of a negative growth of 10.72 per cent in the corresponding period of the FY13. According to Bangladesh Bank data released on Tuesday, settlement of letters of credit, or generally known as actual imports, ... Read more

Net overseas investment at the Dhaka Stock Exchange increased by 328 per cent in January compared with the previous month as low priced stocks lured them amid formation of the new government. The net foreign investment in January was the highest after Tk 339.49 crore in June last year, which was all time high foreign investment ... Read more

Generation Next’s rights shares offer approved The Bangladesh Securities and Exchange Commission on Tuesday approved two initial public offerings, one rights share offer and an open-ended mutual fund. The decision was taken at a regular meeting of the commission presided over by its chairman M Khairul Hossain. The BSEC approved the bidding

Dhaka-Mawa expressway soon Finance minister AMA Muhith on Monday announced plans to overhaul the country’s corporate tax structure saying that the existing one was not ‘appropriate’. ‘There will be change in corporate tax structure in the coming fiscal year,’ he said during a meeting with officials of Dhaka Chamber of Commerce and

Commerce minister Tofail Ahmed on Monday urged the global apparel buyers and retailers to raise the product prices in line with the recently enhanced wage for the garment workers with a view to sustainability of the sector. ‘The wage for garment workers has increased by 77 per cent. If the buyers do not raise the prices ... Read more

Sonali Bank board of directors on Monday decided to file a number of cases against Hallmark Group with Artha Rin Adalat and other civil courts in a bid to recover Tk 2,554 crore embezzled by the group. The board made the decision in a meeting and the bank will file a number of cases against the ... Read more

The country’s remittance inflow decreased to $8.02 billion in the first seven months of the current financial year 2013-2014 from $8.72 billion during the same period of the FY13 against the backdrop of downward manpower exports during the period. According to Bangladesh Bank data released on Monday, remittance inflow decreased by 8.09 per cent in

Dhaka stocks advanced for the fourth trading session on Monday with the key index of Dhaka Stock Exchange, DSEX, hitting its fresh high as investors continued to inject fresh fund. DSEX gained 0.81 per cent, or 38.85 points, to close at 4,826.51 points on the day, which is its highest since its launch with 4,055 ... Read more

Bb’s Tk 200cr Refinance Scheme 27 banks yet to disburse any green loan despite ceiling imposition Twenty-seven scheduled banks are yet to disburse any loan under a Tk 200-crore refinance scheme for green products although Bangladesh Bank set a loan disbursement target of at least Tk 5 crore in a fiscal year under the scheme. The ... Read more

Container Congestion CPA wants end to long auction process by customs The Chittagong Port Authority has again requested the National Board of Revenue for quick disposal of all auctionable and destroyable goods and containers left abandoned in the port for years, officials of the revenue board said. The port authorities alleged that such congestion which was ... Read more

Affected Stock Investors Refinance scheme application deadline extended for 4th time The supervision committee for Tk 900-crore government refinance scheme for the affected small-scale investors on Sunday extended for the fourth time the deadline to get loan applications from merchant banks and brokerage houses till March 31. The five-member supervision committee made the decision in a ... Read more

Makes ICAB registration mandatory for interested firms The telecom regulator on Sunday floated a fresh tender for auditing the mobile phone companies with a condition that participating firms must have registration of the Institute of Chartered Accountants of Bangladesh. The Bangladesh Telecommunication Regulatory Commission earlier cancelled its previous tender for the same job that was

Collateral Holding For Foreign Loan Banks require no prior BB approval Bangladesh Bank said scheduled banks would not require prior approval from the central bank to hold collaterals on behalf of their overseas bank branches or correspondents in respect of foreign borrowing by local industrial enterprises. To this end, the BB on Thursday issued a circular ... Read more

Faster Release of Goods NBR to introduce green channels at ports The National Board of Revenue has decided to introduce green channels at ports to release export-import goods without major supervision of customs authorities in a bid to facilitate international trade, officials of the NBR said. They said only authorised economic operators would be able to ... Read more

Most of the companies listed with the Dhaka and Chittagong stock exchanges in the last three years reported fall in profits, some in the very next year of their listing and some others in the latest interim financial period. Capital market experts said many companies show good business prospects by fabricating financial statements in a bid ... Read more

Bangladesh Bank has again pursued a contractionary approach in its latest monetary policy which will hamper the private sector credit growth, said Unnayan Onneshan on Saturday. In its January issue of monthly economic update, the local think-tank said that the central bank took such decision to please the International Monetary

Remittance sent by expatriates is mostly used for consumption and in the non-productive sectors in the country, according to a Bangladesh Bank study. Experts attributed the situation to lack of action plan. They said the successive government had failed

Dse Weekly Review Stocks upbeat for fifth week Dhaka stocks continued to rise last week, fifth week in a row, as investors were expecting further rise in share prices amid declaration of monetary policy by the central bank. The key index of the bourse, DSEX, increased by 1.07 per cent, or 50.51 points, over the ... Read more