Business

The credit- or advance-deposit ratio in the banking sector declined to below 71 per cent in December as credit demand in the private sector continued to drop since the second half of the last fiscal year due to dull business situation in the country amid political unrest, said Bangladesh Bank officials. According to the latest BB ... Read more

Soya bean also becomes dearer The prices of rice continued to increase in the capital’s retail markets over the week ending Friday due to a supply shortage with the end of harvesting season and a rise in transportation cost. Soya bean oil price also rose as companies increased their rates, traders said. Retailers said although ... Read more

The Dhaka Stock Exchange will introduce Shariah index this week in a bid to give investors better views about the share price movement of the Shariah-based companies listed with the bourse. DSE officials said US-based Standard & Poor’s developed the index. The banks, non-bank financial institutions,

Tax Dodging House Owners, Businessmen Fresh survey starts in Feb to bring 2 lakh under NBR net The National Board of Revenue is going to start a fresh door-to-door survey from next month to bring at least 2 lakh suspected tax dodging house owners and businessmen under the income tax net, officials of the revenue ... Read more

Bangladesh Bank on Thursday said if a person or a company controls from 20 per cent to less than 50 per cent voting rights or shares in another entity, the entity would be considered a member firm of a group of companies. BB officials said the central bank was forced to define corporate group after a ... Read more

Internet Content Filtering BTRC to form committee to speed up solution purchase The Bangladesh Telecommunication Regulatory Commission is going to form a committee with a view to purchasing solution for content filtering on the internet, said officials. The telecom regulator on Sunday sent letters to Bangladesh Computer Council, Bangladesh Telecommunication Company Limited and some other ... Read more

Bangladesh Bank on Thursday increased the cost limit for banks to purchase their motorcars and jeeps. The banks were earlier allowed to buy motorcars at a maximum cost of Tk 35 lakh and Pajero jeeps assembled by Progoti costing up to Tk 85 lakhs. The BB will now permit the banks to purchase sedan car costing up ... Read more

Dhaka stocks advanced on Thursday, seventh trading session in a row, with the bourse’s key index hitting fresh high at 4,519.35 points since its inception last year as the political tensions were easing. Market operators said investors became optimistic due to an expectation that Bangladesh Bank would announce a relaxed monetary policy. An anticipation that the market

Providing Taxpayers’ Info Banks allowed to sign deal with US IRS Bangladesh Bank on Thursday allowed local banks to sign agreement with the United States Internal Revenue Service if they (local banks) hold US taxpayers’ bank accounts. A BB circular issued on the day said according to the Foreign Account Tax Compliance Act enacted in ... Read more

The indices committee of Dhaka Stock Exchange has chosen United Commercial Bank, Delta Life Insurance, Orion Pharma and Renata to include them in the bourse’s blue-chip index, DS30, replacing existing four others following criteria developed by US-based Standard & Poor’s. The decision will come into effect from January 19, a DSE new release issued on

5th SAARC conclave kicks off in Delhi today A Bangladesh delegation, led by commerce minister Tofail Ahmed, left Dhaka for New Delhi on Thursday to attend the fifth edition of the SAARC Business Leaders Conclave, beginning today. During his first visit to India after being a minister of the new cabinet, Tofail will meet his ... Read more

Political Uncertainty WB further cuts GDP growth projection The World Bank on Wednesday lowered Bangladesh’s growth forecast to 5.7 per cent from previous 6.1 per cent due to political ‘uncertainty’ over the general election. ‘Political uncertainty and disruptions in the run up to elections in Bangladesh will continue to slow growth to an estimated 5.7 ... Read more

The government has identified some non-tariff barriers faced by local exporters in Saudi Arabia and is going to request the country to remove the NTBs to facilitate Bangladesh’s export, officials of the commerce ministry said. Bangladeshi exporters face NTBs as the country most of the time apply rigid and non-transparent non-tariff measures and changes those

Bangladesh Bank has set a Tk 88,753-crore SME loan disbursement target for 2014 which is 19.63 per cent higher than the target set for the previous year, said officials of the central bank. The BB had set annual SME loan disbursement target at Tk 74,187 crore for 2013 and Tk 59,012.78 crore for 2012. A BB ... Read more

The Bangladesh Securities and Exchange Commission on Wednesday approved initial public offering of Shahjibazar Power Company Ltd with an offer price of Tk 25 each share including a premium Tk 15. The decision was taken at a regular commission meeting presided over by the BSEC chairman, M Khairul Hossain. A BSEC news release said Shahjibazar Power would

The Bangladesh Securities and Exchange Commission on Wednesday fined Reliance Brokerage Service Limited Tk 10 lakh for violating different margin loan-related securities rules. The decision was taken at a regular commission meeting presided over by the BSEC chairman, M Khairul Hossain. A BSEC news release said Reliance

Dhaka stocks continued to rise for the sixth trading session on Wednesday with the bourse’s key index reaching new high since its launch last year as investors became positive amid easing of the tensions on the political front, market operators said. They said an expectation that Bangladesh Bank would announce a relaxed monetary policy and an ... Read more

It’s a double whammy for denim fabric manufacturers in India. At home, they have landed in a payment crisis whereas political tension in Bangladesh has affected exports of denim fabric to the nation. India has a capacity to produce 1 billion metres of denim fabric per annum, The Economic Times reports from Kolkata. Talking to the ... Read more

RMG Factory Inspection Teams detect structural flaws in some units The government-assigned inspection teams have found structural and electrical flaws in some readymade garment units during their fire and workplace safety assessment in 110 factories, people involved with the process told New Age. The teams are yet to spot any major fault, they said. The government in ... Read more

Muhith says target to be revised by this month Finance minister Abul Maal Abdul Muhith on Monday said the government would revise the revenue collection target set for the current fiscal year by this month as the National Board of Revenue fell short of target by Tk 8,509.69 crore in the first half of the ... Read more