Business

The Bangladesh Securities and Exchange Commission has fined Delta Spinners Tk 10 lakh on charge of violation of different rules of Bangladesh Accounting Standards. According to a Dhaka Stock Exchange web post published on Monday, Delta Spinners in its financial statement did not disclose the information of

Dhaka stocks declined on Monday after two days of gain, with decline in turnover as the investors were shaky to participate in the trading floor due to the ongoing political uncertainty, said market operators. DSEX, the benchmark general index of Dhaka Stock Exchange, declined to 4,265.24 points, shedding 0.55 per cent or 23.62 points on Monday.

Qatar Airways has recently announced to launch of flights from Doha to Larnaca International Airport in Cyprus commencing April 29, 2014. The new route, in which the airline will fly four times a week, will be operated by an Airbus A320, configured in a two-class configuration with 12

Mohammad Abdul Jalil has recently joined Al-Arafah Islami Bank as deputy managing director. Prior to his new assignment he was executive vice-president of Islami Bank Bangladesh, said a news release. After completing BSS (Hons) and MSS from economics department of the University of Dhaka Jalil started his banking career with Uttara Bank in 1983. During his

The National Board of Revenue wants revaluation of the minimum price of land transfer for ensuring tax collection from the sector through reducing the gap between the government set price and actual price of transaction. The revenue board on Sunday decided to recommend to the government for assessing the existing base-value of land and upgrade it ... Read more

Country’s readymade garment sector achieved an export earnings growth of 20.73 per cent in July-November of the current financial year despite political turmoil. In the five months of the FY 2013-14, the RMG sector fetched $9.65 billion against $8 billion in the same period of the FY 2012-13. The overall

Condemns Pakistan parliament resolution on Quader Molla The Federation of Bangladesh Chambers of Commerce and Industry on Sunday demanded loan rescheduling facility for all businesses which was recently allowed for the SME sector. The FBCCI said the Bangladesh Bank recently allowed the small and medium enterprises to enjoy the rescheduling facility by relaxing the down

Motorcycle assembling in Bangladesh by Honda Motor Company, Japan’s biggest motorbike manufacturer, will be delayed mainly because of ongoing political turmoil in the country, officials of Bangladesh Steel and Engineering Corporation said. They said that Honda authorities could not bring parts and other raw materials into Bangladesh for starting assembling

Bangladesh Bank will relax the SME loan classification and rescheduling policy for the non-bank financial institutions also, BB officials said. On Wednesday, the central bank relaxed the policy for the scheduled banks. BB officials said a number of NBFIs requested the

Dhaka stocks advanced on Sunday, the first trading session of the week, with an increased turnover as investors bought shares to avail lower prices of securities after a bearish week. DSEX, the benchmark general index of Dhaka Stock Exchange, gained 1.04 per cent, or 44.23 points, to finish at 4,288.86 points. DS30, the

BB asks banks Bangladesh Bank has asked scheduled banks to ensure deduction of the advance income tax from the payable amount of import bills against local letters of credit. To this end, the BB on Thursday issued a circular to managing directors and chief executive officers of all banks after receiving an instruction from

Immediate past president of the Dhaka Chamber of Commerce and Industry Md Sabur Khan has recently been elected chairman for Entrepreneurship and Innovation Expo project of the chamber. According to a decision of DCCI board meeting, Sabur will perform as the chairman for this project till its successful completion. DCCI in

Political Unrest Defaulted farm loans rise by 21pc The defaulted loans in the agriculture sector increased by 21.50 per cent in the last one year as farmers failed to repay their loans for not getting fair prices of their produce due to a supply chain disruption amid political unrest. According to the BB data released on ... Read more

The Bangladesh Securities and Exchange Commission has been upgraded to ‘A’ category from ‘B’ category after 18 years of its membership of the International Organisation of Securities Commissions, BSEC officials said on Saturday. The IOSCO is a Madrid-based association of securities market regulators across the globe with 182 members. ‘The IOSCO on

Weak surveillance system and structural problems have led the country’s banking sector to long-term risks which will ultimately lower the rate of the growth of gross domestic product, said Unnayan Onneshan, a local think tank, in its monthly economic updates for December. It said the decline in the rate of growth in credit

The country’s apparel exporters pay second highest cost after India and almost double compared to other rival countries while sending a container to export destinations because of transport and bureaucratic hurdles. The cost to export at $ 1,025 per container in Bangladesh is compared to $ 600 per container in many other RMG-exporting countries including

Billions of dollars of investment made by more than 10,000 Pakistanis in Bangladesh is facing uncertainty in the wake of tense situation ahead of next parliamentary elections in Bangladesh. Experts monitoring the situation, however, say although the situation poses some risk of loss to the Pakistani investors, it will ultimately benefit the overall economy of Pakistan,

Stocks end 2-week bull run as polls consensus hope fades Dhaka stocks lost value last week after a two-week bull run as hopes of a political consensus on the upcoming national polls faded, market operators said. Turnover at the Dhaka Stock Exchange also dipped over the week due to a decreased participation of investors amid ... Read more

Tanjil Chowdhury of EC Securities was on Saturday elected the new president of the Bangladesh Merchant Bankers’ Association for the term of 2014-15. Akter Hossain Sannamat of Union Capital was elected vice-president while Mashiur Rahman of ICB Capital was general secretary and Mostofa Kamal

Milk powder price rises The price of rice continued to rise on the retail markets in the city last week despite arrival of new rice on the market as political violence, frequent blockades and hartals disrupted the supply chain across the country. Vegetable prices remained high throughout the week except Friday. The prices of vegetables decreased on ... Read more