Business

Resolving impasse key to halt collapse: economists The country’s economy in the New Year of 2014 that begins today will depend on amicable settlement of the political impasse between the government and the opposition to restore stability as soon as possible, economists on Tuesday said. Otherwise, the economic situation that has already reached on the verge ... Read more

Utilisation of foreign aid has hit a record low in the current fiscal year because of stagnation in development activities amid political unrest due to conflict between the ruling party and opposition over holding the general elections. Finance ministry officials said only 11 per cent of total foreign aid disbursed until October was utilised, seven per ... Read more

The country’s scheduled banks in the just-concluded year showed a mixed performance as some banks posted healthy operating profit while other banks lost their profitability due to business stagnation amid political unrest. A BB official told New Age on Tuesday that the banking sector had faced different types of crisis in the concluded year as the ... Read more

The supervision committee for the Tk 900-crore government refinance scheme for the affected small-scale investors on Tuesday for the third time extended the deadline for receiving loan applications by another month as 98 per cent investors are yet to file applications. The five-member supervision committee made

Sales of the national savings certificates and bonds dropped by 9.96 per cent in the first five months of this fiscal year compared with that in the same period of the FY 2012-13. The savings instruments worth Tk 9,013.62 crore were sold through banks, national savings bureaus and post offices in July to November of ... Read more

Eastern Bank managing director and chief executive officer Ali Reza Iftekhar has recently been elected chairman of Association of Bankers, Bangladesh for a two-year term — 2014-15. Iftekhar, with 26 years of experience in banking, has served both foreign and local private banks and has been the managing director of EBL since 2007,

Political unrest hampers project works ADP implementation during July-November period of the current fiscal year stood at Tk 13,156 crore or 20 per cent of the total outlay earmarked in the budget, compared with 25 per cent utilised during the same period of the previous fiscal year. Political instability and capacity constraints in implementing development projects ... Read more

Deadline expires today The National Board of Revenue has decided not to extend the deadline for submission of income tax returns for the current fiscal year by individual taxpayers though it has got depressing response and has received around 8 lakh returns with one day left for the end of deadline today, officials said. Though the ... Read more

The ‘government-sponsored blockade’ hit the kitchen markets in the city and pushed up the prices of vegetables due to supply shortage as transportation remained suspended across the country for last four days. Traders said that they had completely failed to carry any goods including vegetables from southern or northern areas of country as transport stayed off ... Read more

Defaulted loans in the banking sector increased sharply in the last five years as the non-performing loans increased to 12.79 per cent of the total loans disbursed by banks as of September 30, 2013 from 10.79 per cent as of December 31, 2008, according to a BB news release. The release titled ‘2013 economy remained resilient ... Read more

Banks Stock Market Subsidiaries BB extends deadline by 1 more year to adjust loan limit Bangladesh Bank on Monday extended time by one more year for adjusting single borrower exposure limit by the commercial banks’ subsidiary brokerage houses and merchant banks. The BB issued a circular to managing directors and chief executive officers of all banks ... Read more

The Bangladesh Securities and Exchange Commission on Monday formed an inquiry committee against a company and its managing director for holding more than 10 per cent shares without declaration and against some investors for influencing share prices. The BSEC formed the committee as per

Exporters Association of Bangladesh has urged the government to pay cash incentive on a monthly basis instead of quarterly to overcome the adverse situation the exporters might face due to prolonged political unrest. Besides, EAB, a newly formed association of exporters, placed more than a dozen of other demands including lowering tax on export bills

Dhaka stocks advanced on Monday, the last trading session of the year, with an increased turnover as the central bank on the day allowed banks another year to adjust their capital market exposure above the allowable limit. The benchmark general index of Dhaka Stock Exchange, DSEX, increased to 4,266.55 points, adding 1.35 per cent or 56.85 ... Read more

Panasonic Corp and Japan’s other mid-tier camera makers have a battle on their hands to win over a smartphone ‘selfie’ generation to mirrorless cameras that held such promise when they were launched around five years ago, reports Reuters. Panasonic, like peers Fujifilm Holdings and Olympus Corp, has been losing money on its cameras since

Pan Pacific Sonargaon Hotel has taken a special programme to celebrate the 31st Night, the eve of New Year. There will be a savouring delicacy of food on the eve of New Year at all the restaurant outlets of the hotel, said a news release. The Chef’s Special 5-Course Dinner on the 31st Night in the premiere ... Read more

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.