Business

Private sector credit growth drops to 11.07pc in September Credit growth in the private sector declined further in September as the country’s investment zone is now passing a stagnant situation due to the ongoing political unrest ahead of the national elections, said Bangladesh Bank officials. According to the latest BB data, private sector credit growth stood ... Read more

Non-Compliant Rmg Factories Govt body for customs, CSP certificate facility cancellation A government committee has suggested for cancellation or suspension of customs bond and GSP certificate facility, and import-export license of non-compliant readymade garment factories in line with the existing laws and rules related to workplace safety and workers’ welfare, commerce ministry officials said. The National ... Read more

Overheated Market Govt mulls G2G onion import from India The government is contemplating to import onion from India under government to government or government to business arrangement to ease the price hike of the commodity in the domestic markets, commerce secretary Mahbub Ahmed told New Age on Wednesday. A two-member government delegation is

Bangladesh Bank on Wednesday asked the scheduled banks to submit their statements of asset-liability and profit-loss on a quarterly basis. The BB issued a circular to managing directors and chief executive officers of all banks asking them to submit the statements to the central bank’s

The Bangladesh Telecommunication Regulatory Commission on Wednesday said apps or content worth over Tk 50 could not be purchased through mobile balance. The BTRC directive came following an order from Bangladesh Bank in line with the mobile financial services guideline which regulates the financial

President Abdul Hamid on Wednesday underscored the need for a university for entrepreneurs to make their development activities more dynamic and professional apart from checking the brain drain. ‘Most new ideas of innovations in most developed countries come through the endeavours of various educational institutions. But teachers and students in our

Dissatisfied with the unremitting short-selling incidents at the Dhaka and Chittagong stock exchanges, the Bangladesh Securities and Exchange Commission has asked the bourses to take more measures to prevent the illegal practice by the brokerage houses. To this end the stock market regulator

Dhaka stocks advanced for the fifth trading session on Wednesday thanks to the soaring prices of banks’ shares while some state-owned institutions were also active on the trading floor to keep the market afloat. The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,111.96 points, adding 0.53 per cent, or 21.84 points. DS30, the blue-chip

Dhaka Chamber of Commerce and Industry, Metropolitan Chamber of Commerce and Industry and Chittagong Chamber of Commerce and Industry have jointly formed Business Initiative Leading Development Trust. Presidents of the three chambers signed a Trust Deed to this end at the Westin Hotel in the city on Saturday, said a press release. Through the

Mark Wong has been appointed the chief executive officer of KAFCO recently, said a press release. A chemical engineer, Wong did a PhD in process control and optimisation from Imperial College, London. He also has an MBA from Kingston Business School, UK. Before KAFCO, he worked with Finnish

Banks to be asked to maintain standard reference prices against LCs Bangladesh Bank is going to make mandatory for the scheduled banks to maintain standard reference prices against their opening of letters of credit in a bid to check money laundering through price forgery in the form of over-invoicing and under-invoicing, said central bank officials. The ... Read more

Parliament on Tuesday passed a law aimed at protecting the patent rights of the country’s century-old indigenous products. The Geographical Indicative Products (Registration and Protection) Act 2013 would protect the country’s claims to commodities such as Hilsa fish, Jamdani Saree, Nakshi Kantha, Pineapples, Fazli Mango, Aromatic Rice Chinigura,

Safety, working condition compliant units to get sub-contract The government is going to finalise a guideline for establishing a transparent and accountable sub-contracting system in the readymade garment sector to ensure workers’ safety and improve working conditions in the sub-contracting factories, commerce ministry officials said. The ministry has already formulated a draft

The United Arab Emirates has offered to invest $320 million, in the initial phase of a multi-billion package for the development of port facilities and an inland container terminal in Bangladesh. The UAE Ministry of International Cooperation and Development offered the investment in a recent communication to the Finance Ministry.

Demutualisation DSE to seek registration from RJSC today The Dhaka Stock Exchange will submit an application to the Registrar of Joint Stock Companies and Firms today to get registered as a demutualised bourse. The bourse has to pay Tk 1.12 crore for getting registered with the RJSC as a company with paid-up capital of Tk ... Read more

Dhaka stocks ended flat on Tuesday with a declining turnover as the investors went for profit-taking moves after significant rise in the earlier three trading sessions. The benchmark general index of Dhaka Stock Exchange, DSEX, ended flat at 4,090.12 points, adding 0.12 per cent, or 4.91points. DS30,

Bangladesh Securities and Exchange Commission on Tuesday cancelled the registration of Sandhani Life Growth Fund for failing to submit the draft of public offering prospectus in time. The decision was taken at a regular commission meeting presided over by BSEC chairman M Khairul Hossain. A BSEC press release said the asset

The mobile phone operators have opposed the latest amendment to the broadband wireless access service guideline which allowed frequency mobility for the WiMAX operators. They also said the amendment would create uneven licensing regime in the country. In a letter to posts and telecommunications

The state-run eight banks on Monday made a decision that from now on they would give rate of interest at the highest 11.50 per cent on their term deposit products instead of 12.50 per cent. The decision came from a meeting of managing directors and chief executive officers of four state-owned commercial banks and four ... Read more

The number of active mobile phone subscribers of the country crossed the 11-crore mark for the first time in September as the mobile operators added more than 13 lakh new subscribers in the month. Among the six companies Robi and Citycell witnessed decline in subscriber number while four others, Grameenphone, Banglalink, Airtel and Teletalk,