Business

Bangladesh Bank has taken a decision to disburse short-term agriculture loans to produce 31 types of seeds at the farmers’ level, avoiding the seeds production companies, said officials of the central bank. They said that BB governor Atiur Rahman had signed the new policy on Tuesday and the central bank would issue a fresh circular to scheduled

Labour and expatriates’ welfare minister Khandaker Mosharraf Hossain on Tuesday said that ongoing political turmoil like hartals and blockades sponsored by BNP-led opposition alliance has not affected the manpower export and caused no problem in this sector. He said the overseas job-seekers were visiting

Dhaka Stock Exchange on Tuesday downgraded three companies — CVO Petrochemical Refinery, Rahima Food and Modern Dyeing and Screen Printing — to ‘Z’ category as they were not in continuous operation of their productions for more than six months. Of the companies, CVO and Rahima Food were

The National Board of Revenue has decided to deduct advance income tax on commission or profit of outsourcing service providing companies that they get for supplying manpower to different organisations, officials of the NBR said. The decision came from the latest board meeting

Dhaka stocks inched down on Tuesday, third trading session in a raw, with increased turnover due to decline in most of the traded large capitalized company shares amid rising political violence across the country. The turnover of the Dhaka Stock Exchange increased to Tk 593.72 crore from Tk 497.60 crore in the previous trading session. Of the

Grameenphone customers can now enjoy access to Wikipedia, the largest free online encyclopaedia in the world, free of mobile data charges, said a news release. Beginning on Tuesday, any Grameenphone user will be able browse zero.wikipedia.org without incurring data charges using Opera Mini browsers.

Investment Corporation of Bangladesh has declared 40 per cent cash dividend for its shareholders for the year ending June 30, 2013. The declaration came in an extraordinary meeting and 37th annual general meeting of the company held in Dhaka recently, said a news release. ICB chairman SM Mahfuzur Rahman presided over the meetings while

Hamstrung by slow disbursement of funds and land acquisition problems, agencies implementing six Saudi-funded projects for upgrading a 50-bed cancer hospital to a 500-bed one are facing serious hurdles. According to the Economic Relations Division (ERD) and the implementing agencies, though the agreement between the Saudi Fund for

UNREST IMPACT ON RMG SECTOR BB cuts interest on export dev fund loan Bangladesh Bank on Sunday cut interest on loans taken from export development fund by one percentage point to 1.50 per cent in a bid to give incentive to the exporters as ongoing political unrest is hindering their business severely. The BB took the ... Read more

Bangladesh Bank on Sunday urged the Inspector General of Police to increase security at banks operating across the country as the bank branches faced attacks, vandalism and arson in recent times due to prevailing unrest and subversive activities. The BB wrote a letter to the IGP requesting that

Stocks Scheme Loan Application M-banks, brokerages get more time The supervision committee for the Tk 900-crore government refinance scheme for the small-scale investors affected by the 2010-11 stock market crash on Sunday extended the deadline for receiving loan applications from merchant banks and brokerage houses to December 31. The five-member committee made the second time extension ... Read more

Offensive Sms BTRC asks telcos to address fraud management system Bangladesh Telecommunication Regulatory Commission on Sunday asked the mobile phone companies to implement the fraud management system in order to prevent and detect criminal activities through mobile phones. The BTRC directive also said that lack of fraud management system by the mobile phone companies is allowing ... Read more

Incidence in dodging customs duty through submitting counterfeit treasury challan against import duties is increasing in the country, officials of the National Board of Revenue said. They said that a number of clearing and forwarding agents and importers took release of imported goods without paying applicable duty by submitting fake

Dhaka stocks declined for the second trading session on Sunday, the first trading session of the week, with reduced turnover as increasing number of violence continued to deject investors. The turnover of Dhaka Stock Exchange declined to Tk 497.60 crore which was Tk 563.65 crore in the previous trading session. DSEX, the benchmark general

President of Dhaka Chamber of Commerce and Industry M Sabur Khan on Sunday laid emphasis on the wider use of cloud computing saying it offers the potential for enhanced efficiency. The DCCI leader made the remark at the launching ceremony of the Unctad’s Information Economy Report 2013, subtitled ‘The Cloud Economy and

BASIC Bank Ltd opened its 67th branch at Joarganj in Chittagong on Saturday. Chairman of the board of directors of the bank Sheikh Abdul Hye Bacchu inaugurated the branch as chief guest, said a news release. Acting managing director of the bank Fazlus Sobhan presided over the inaugural ceremony. Senior officials of the bank and local elites

Defaulted loan of bad category increased by 38.38 per cent to Tk 39,445.24 crore in the first nine months of this year due to scheduled banks’ failure in recovering the classified loan amid dull business situation caused by political unrest in the country. The bad loan stood in the banking sector at Tk 39,445.24 crore as ... Read more

The government has extended the loan repayment period by five years for 109 sick industries, officials said. The selected industries of the non-textile sector having loan worth not more than Tk 50,00,000 to the state-owned commercial and specialised banks will enjoy one moratorium before clearing the liability in quarterly instalments in next four years, the officials

The capital market regulator has recently asked two firms to scrap ‘exchange’ from the respective company’s name as the securities rules did not allow any organisation to use the word without getting permission from the Bangladesh Securities and Exchange Commission. The Bangladesh Jute and Commodity Exchange

Dhaka stocks advanced last week, for the second week in a row, with a significant rise in turnover as the UN secretary general’s move towards settling political crisis in the country made investors optimistic. The daily average turnover of Dhaka Stock Exchange increased to Tk 639.92 crore from that of Tk 428.69 crore in the previous ... Read more