Business

The Dhaka Stock Exchange on Thursday decided that the bourse would introduce by February T+2 trading cycle (which means shares mature in two trading sessions) by scraping the existing T+3 trading cycle in a bid to reduce share settlement cycle by one day. In the existing transaction system, the DSE settles the transactions within three days ... Read more

Japan International Cooperation Agency lauded the government decision of including the metro railway, funded by it, as a fast track project, officials said. It, however, expressed disappointment over the performance of the project’s technical committee when the new and the outgoing JICA representatives met

Bangladesh Bank on Thursday asked the scheduled banks to keep their branches open in 40 districts on Saturday to facilitate the filing of nomination papers for the upcoming first phase of upazila council elections. The BB issued a circular to managing directors and chief executive officers of all banks asking them to keep open all their ... Read more

Dhaka stocks continued to jump on Thursday with the DSE’s key index hitting another high at 4,702.66 points since its inception on January 28 last year as institutional and retail investors continued to inject fresh funds. The benchmark general index of Dhaka Stock Exchange, DSEX, closed at another high of 4,702.66 points, adding 1.33 per cent ... Read more

DC-10 aircraft of Biman Bangladesh Airlines will make its last passenger flight on its Dhaka-Kuwait-Birmingham route on February 20. Some forty-three years ago, the legendary workhorse logged its maiden voyage for passengers on August 5, 1971, the year of Bangladesh Liberation, on an American Airlines round trip between Los Angeles and Chicago. And now the final-flight

Social Business Initiative Draft policy eyes govt stake in all projects The Board of Investment has finalised a draft of social business policy with a provision for participation of the government as a shareholder in any social business initiative, officials said. The draft framed to facilitate social businesses in the country has already been sent ... Read more

No timeframe, format set for performance report disclosure to users The Bangladesh Telecommunication Regulatory Commission on Wednesday issued a directive setting service quality standard for the mobile phone operators. The telecom regulator asked the telcos to ensure call success rate at 95-97 per cent with a maximum call drop rate at 2- 3 per cent. It ... Read more

Bharti Airtel has put the company’s Bangladesh tower assets on its divestiture list as the world’s fourth largest mobile telephony firm seeks to raise more than $2 billion from selling its infra networks to bolster cash reserves, reports The Times of India, quoting people directly aware of the matter. The Sunil Mittal-led Bharti has received offers ... Read more

Import Payment Thru Tt Banks can pay up to $5,000 in advance without BB nod Bangladesh Bank has said authorised dealer branches of scheduled banks will not require prior approval from the central bank to make advance payment for import through telegraphic transfer up to $5,000 against foreign suppliers. To this end, the BB on Wednesday ... Read more

Indian high commissioner in Dhaka Pankaj Saran on Wednesday urged the government of Bangladesh to lift the ban imposed on hilsa export to India. The Indian diplomat conveyed the request to fisheries and livestock minister M Sayedul Haq during a meeting held at the latter’s secretariat office.

Govt Securities Banks, NBFIs asked to extend support to individual investors Bangladesh Bank on Wednesday asked the scheduled banks and non-bank financial institutions to extend sufficient cooperation to the individuals willing to invest in the government securities. To this end, the BB issued a circular to managing directors and chief executive officers of all banks ... Read more

DSE Polls 8 member-shareholders submit nomination papers Eight member-turned-shareholders of the Dhaka Stock Exchange have submitted their nomination papers to the election commission of the bourse to vie for four director posts. DSE officials said the polls would be held on February 12. The successful candidates with nine other directors — seven

Turnover rises to 2-month high Dhaka stocks continued to rise on Wednesday with turnover rising to a two-month high and the DSE’s key index climbing to its fresh high at 4,640.55 points since its inception last year as the recent upward trend lured the investors who were inactive for a long time. The benchmark general ... Read more

Facebook’s growth will eventually come to a quick end, much like an infectious disease that spreads rapidly and suddenly dies, say Princeton researchers who are using diseases to model the life cycles of social media, reports US-based Time magazine’s web site. Disease models can be used to understand

Exporters of the readymade garment products have demanded that the government should give one per cent cash incentive for export of all types of RMG items, leaders of the apparel exporters associations said. The finance ministry early this month decided to provide cash incentive at the rate of 0.25 per cent on the freight on board ... Read more

Farm loan disbursement posted a 16.03-per cent growth in the first half (July-December) of the current financial year from that in the same period of the FY13 due to a decreased credit demand from the industrial sector. Bangladesh Bank data released on Tuesday, however, showed that 19 banks had disbursed farm loan below 30 per cent ... Read more

Directors’ Shareholding BSEC fines one co, warns 16 others for flouting directive The Bangladesh Securities and Exchange Commission on Tuesday fined a company and warned 16 others for non-obedience with a BSEC directive which asked sponsor-directors of listed companies to hold 2 per cent shares individually and 30 per cent jointly. The capital market regulator ... Read more

New Power Connections Govt plans to scrap condition of solar panel installation The government is planning to scrap the condition of installing rooftop solar panels in residential buildings in city areas for getting power connection following repeated demands of the Real Estate and Housing Association of Bangladesh, state minister for power Nasrul Hamid hinted on ... Read more

Finance minister AMA Muhith on Monday lowered the forecast of growth rate of the country’s gross domestic products to 6.3 per cent in the current fiscal year from the earlier projected 7.2 per cent. The GDP growth rate will be 6.3 per cent in the current fiscal year, he told reporters after a meeting with the ... Read more

Tax Cut On Rmg Exports Govt to lose Tk 2,000cr in revenue in 18 months Reduction of tax at source on export of clothing items to 0.30 per cent from the existing 0.80 per cent will cost at least Tk 2,000 crore in revenue as the government has offered the benefit for one and half ... Read more