Business

The Bangladesh Securities and Exchange Commission on Thursday decided to issue a fresh circular to remind the listed companies that they were not allowed to offer cash or kind to its shareholders in the annual general meeting but cash dividend or stock dividend, a BSEC release said. During or after the AGM, many listed companies

Envoy Textiles Limited, a listed company on the stock exchanges, has overstated its earning and assets by deviating from different accounting standards, said a Dhaka Stock Exchange report. The DSE management prepared the report on the basis of audited financial statement of Envoy Textiles for the year ended on September 2012.

The 17th general meeting of the Asia Pacific Central Securities Depository Group was held in the city on Monday with the theme ‘Market Booms and Busts Experiences’ focusing on the role of central depositories. Bangladesh Securities and Exchange Commission chairman M Khairul Hossain inaugurated the session where 73 foreign delegates from 16 central securities

Clothing retailer Primark on Thursday announced that it was to provide further compensation to victims of the Rana Plaza collapse that had killed more than 1,000 people in April. Primark, one of many international retailers that were supplied by factories housed within the Rana Plaza complex, said it would pay an extra three months’

Abdul Hafiz Mallik has recently been unanimously elected the chairman of Best Life Insurance for the next three years, said a press release. He joined the then East Pakistan Army in 1969 as a commissioned officer and was promoted to the rank of Major General in 1996. He did his graduation

The National Board of Revenue has decided to provide customs duty waiver on import of different machinery and other equipments for newly-established international standard luxury hotels in a bid to promote the hospitality industry and tourism sector in the country. The NBR in a board meeting held last week

More than half of the Bangladesh garment factories that do work for a group of North American retailers and apparel makers have already been inspected for fire and building safety, the group said on Tuesday. Last week, the Alliance for Bangladesh Worker Safety released a list of more than 620 factories its 23 current members do ... Read more

The Bangladesh Bank has said the apparel factories of BGMEA and BKMEA members would get highest Tk 10 crore each in pre-finance from a JICA project to reconstruct risky industrial buildings, purchase equipment required for workplace safety and relocate the factories. The apparel factories of BGMEA and BKMEA

The Bangladesh Bank on Wednesday asked the scheduled banks not to open any letter of credit for the business organisations which did not take business identification number (BIN) as importers. The BB issued a circular letter to head offices and principal offices of all banks which are operating foreign exchange-related business saying that some

The Accord on Fire and Building Safety in Bangladesh, a consortium of EU retailers and labour rights groups, will start inspecting the factories by the end of this November after completing the common standard of inspection. An Accord team led by its executive director Sean Ansett said this in a meeting with Bangladesh Garment Manufacturers and

Demutualisation Of Dse, Cse Bourses’ current chiefs to head interim boards Finance minister AMA Muhith has suggested that the Bangladesh Securities and Exchange Commission should allow current presidents of the Dhaka and Chittagong bourses for the heads of the ‘interim boards’ which will oversee the demutualisation process of the bourses. Earlier on October 13 the ... Read more

State-owned mobile phone operator Teletalk is likely to get rebate on its 3G spectrum charges as the telecom ministry responded positively to an application by the company, said officials. The telecom ministry on Wednesday endorsed the Teletalk application for rebate of around Tk 1,000 crore for 10MHz 3G spectrum, they said, adding

Dhaka stocks advanced for the second trading session on Wednesday with an increased turnover thanks to optimistic participation of the investors who were hopeful of a consensus between the ruling and the opposition parties over forming of the polls-time government. The turnover of the Dhaka Stock Exchange

M Fakhrul Alam recently joined the ONE Bank as its managing director for the next three years, said a press release.  Prior to this, he was the managing director (current charge) of the bank. Before joining ONE Bank, he was the deputy managing director of Eastern Bank. An MBA from IBA, Dhaka University,

The Dhaka Stock Exchange on Wednesday extended its suspension on trading of shares of CVO Petrochemical Refinery by 15 days as they did not get any instruction from the Bangladesh Securities and Exchange Commission in this regard, said an official of the bourse. The DSE on September 24 suspended

Election-centric political business cycle to cut GDP growth below 6pc The growth of gross domestic product will fall below 6 per cent in the current fiscal year as the country has entered into political business cycle in election year when economic activities become stagnant, said Centre for Policy Dialogue on Tuesday. The private think-tank also observed ... Read more

BB purchases $428m more in October The country’s foreign exchange reserve on Tuesday crossed $17-billion mark after Bangladesh Bank purchased fresh US dollar worth $428 million in the first 21 days of this month to keep the inter-bank foreign exchange market stable, said officials of the central bank. Higher export earning against a lower

Bangladesh and India have identified 16 land customs stations of high bilateral trade importance and agreed to encourage the export and import activities through these stations. Customs administrations from both the countries have also decided to improve infrastructure facilities, allow free movement of customs officials

A cabinet committee on Tuesday decided to provide subsidy for pulling down the cost the expatriate Bangladeshis pay for sending remittance home. The decision was taken at a meeting of the cabinet committee on skill development, manpower export and remittance chaired by finance minister

Keeping Deposits Of Govt Entities BB eases rule for new ‘politically licensed’ banks Bangladesh Bank has lifted a bar on private commercial banks that are less than five years in operation to keep deposit of all government and autonomous organisations in a bid to channel funds to the politically licensed new banks. The BB in a ... Read more