Business

Dull Business Amid Political Unrest Surplus bank fund soars to Tk 90,073cr Surplus liquidity in the banking sector increased to Tk 90,073.73 crore as of November 28 from Tk 79,663.77 crore as of October 17 this year due to low investment by and credit demand from the businesspeople amid political unrest, said Bangladesh Bank officials. ... Read more

NBR again asks BGMEA, BKMEA to expedite process to check forgery The National Board of Revenue has again asked the apparel manufacturers and exporters associations for submitting utilisation declaration certificates online so that the customs officials can identify counterfeit UD certificates instantly and prevent duty evasion, officials of the revenue board said. They said that many ... Read more

Dhaka stocks ended flat on Sunday after a three-day fall with turnover hitting two-month low due to thin turnout of investors amid political tension. The turnover of Dhaka Stock Exchange declined to Tk 264.30 crore from Tk 367.56 crore in the previous trading session. Sunday’s

Bangladesh Bank on Sunday relaxed loan rescheduling policy for the non-bank financial institutions after it eased the policy for the scheduled banks on December 23. The NBFIs will have to apply the relaxation for all kinds of loans taken by the businesses who have suffered losses due to the current political unrest.

Dhaka Regency Hotel and Resort has taken special programme to celebrate the New Year. Hotel’s rooftop restaurant Grill On The Skyline will be welcoming guests along with their family and kids where they can enjoy live sea food BBQ. The special New Year’s Eve celebrations will kick off from 6:00pm onwards with live DJ at Club ... Read more

RMG UnitS Inspection Manual Tripartite body relaxes some BNBC, fire act clauses The National Tripartite Committee has prepared an operating manual for assessing structural integrity and fire and electrical safety of readymade garments buildings, allowing relaxation in some laws of the Bangladesh National Building Code and the fire act. EU Accord and North American Alliance ... Read more

The world’s worst garment industry accident had ripple effects beyond Bangladesh in 2013, as the fatal building collapse turned a lens on poor conditions endured by workers and brought fresh focus to production practices used to create affordable goods, reports the Canadian Press. More than 1,100 people died in the April 24 tragedy at the illegally ... Read more

The Dhaka stocks declined for the second week in a row with decline in turnover due to intensifying political tension ahead of the next general elections. The benchmark general index of Dhaka Stock Exchange, DSEX, declined to 4,200.96 points, shedding 1.03 per cent or 43.68 points over

The National Board of Revenue has asked Bangladesh Rural Electrification Board to pay by this month a total of Tk 101.75 crore in value-added tax the REB collected from its consumers on meter rent, NBR officials said. The state-run REB did not pay the amount which was derived and accumulated from meter rent from February, 2008 ... Read more

The gross domestic product growth rate is likely to decline to 5.65 per cent in the current financial year, third year in a row, because of mismatch between the fiscal and the monetary policy, said local think-tank Unnayan Onneshan on Saturday. In UO’s half-yearly economic assessment for

BASIC Bank on Saturday opened its 68th branch at Mohipur under Kalapara upazila in Patuakhali. The bank’s chairman Sheikh Abdul Hye Bacchu inaugurated the branch as chief guest, said a news release. Managing director Kazi Faqurul Islam, and deputy managing directors Md Ruhul Alam, Fazlus Sobhan, Kanak Kumar Purkayastha and Md Salim were present,

The Council of the Institute of Chartered Accountants of Bangladesh on Saturday elected Showkat Hossain as president and Kamrul Abedin, Nasim Anwar and Dewan Nurul Islam as vice-presidents of the institute for the year 2014. The ICAB office bearers were elected by the ICAB council members shortly before holding the 41th annual general meeting at ... Read more

Disburse only 26.60pc of total SME loans in first 9 months The scheduled banks and non-bank financial institutions disbursed only 26.60 per cent of the total SME loans they distributed among the rural entrepreneurs in the first nine months of this year. According to the latest Bangladesh Bank data, the banks and the NBFIs disbursed Tk ... Read more

POLITICAL TURBULENCE Frozen food exporters incur Tk 180cr in losses in 3 months The country’s frozen food exporters on Friday claimed that they had incurred losses worth Tk 180 crore in the last three months as they failed to make shipment of their goods due to political turbulence. At a news conference in the city Bangladesh ... Read more

Starts sales of motorcycle Bangladesh Honda Private Ltd, a joint venture of Japan’s biggest motorcycle manufacturer Honda Motor Company and Bangladesh Steel Engineering Corporation, has sought further cooperation from the government to facilitate motorcycle manufacturing in the country. BHL has made the appeal to the government at a press briefing organised on the

The price of broiler increased on the city’s retail market over the week ending Friday due to increasing demand for the item, traders said. The prices of rice remained high but vegetables prices showed a downward trend in the city’s kitchen markets over the week. The price of broiler

The Bangladesh Bank on Thursday asked registered banks not to give excess financial facility to the members of board of directors for attending the board meetings violating the Bank Company Act 1991. The BB also asked the banks to prohibit presence of non-members and shareholders at their board meetings as well as its (board) supplementary committees

Govt Bank Borrowing Fin min proposes to introduce cash management bill The finance ministry has proposed to introduce a short-term cash management bill to facilitate the government on emergency-basis bank borrowing so that it (government) would be able to avoid the cash mismatch, said officials of the Bangladesh Bank. They said that the MoF had ... Read more

Summit Alliance Port Ltd, which is listed with the stock exchanges, overstated its net assets by Tk 102.38 crore in its financial statements for the last two years (2011 and 2012), a Chittagong Stock Exchange report said. The report said the concern of the Summit Group set its revaluation reserve without deducting its deferred tax liability ... Read more

Bangladesh Telecommunication Regulatory Commission on Thursday suspended the slab-based maximum charge directive on mobile banking amid a controversy of overlapping the regulatory periphery. BTRC officials said the directive raised controversy as the mobile banking in the country is a bank-led model where mobile phone network is used as a medium and