Business

The rate of cancellations of import-related letters of credit increased in the first two months of the current financial year because of disagreement between importers and exporters and the country’s dull business situation amid political unrest, Bangladesh Bank officials said. BB data released recently showed that the

Bangladesh-India joint group of customs decides Customs administrations of Bangladesh and India on Monday decided to keep open the customs offices at both sides of Benapole and Akhaura land ports seven days a week to facilitate export-import activities between the two countries. They took the decision on the first day of the two-day ninth meeting of ... Read more

The Bangladesh Telecommunication Regulatory Commission is set to award WiMAX licence to Bangladesh Internet Exchange Limited by this month after changing the broadband wireless access service guideline in its favour, said BTRC officials. The BTRC in early October changed the BWA guideline following an application from the BIEL, an internet

The International Labour Organisation and the government of Bangladesh are going to launch a new programme on today to improve working conditions in the readymade garment sector in Bangladesh. Under the project, the ILO will provide $24 million to ensure fire and building safety and to secure lasting improvements in the working conditions in

Bangladesh Bank’s recent directive to keep more provisioning against classified loans and losses from the capital market pulled Islami Bank Bangladesh Ltd’s net profit down significantly in the third quarter. Islami Bank made Tk 0.20 crore net profit in the July-September quarter against Tk 83.23 crore in the same period of the previous year, a ... Read more

Banks focus on agri sector amid low demand from industrialists Farm loan disbursement posted a 24.82-per cent growth in the first quarter (July-September) of the current fiscal year from that in the same quarter of the FY 2012-13 due to a decreased credit demand from the industrial sector. The Bangladesh Bank data released on Monday showed ... Read more

Dhaka stocks ended down in volatile trading on Monday as some government-owned entities supported the market to keep it afloat on the day after the key index hit its lowest in more than five months in the previous day amid a fear of escalation of political confrontations. DSEX, the benchmark general index of

The Asian Development Bank will provide $10 million loan facility for the much-needed investment in private-sector infrastructure projects in Bangladesh, including in renewable energy. The ADB will provide a $100 million credit line to the state-owned Infrastructure Development Company Ltd for investment in projects in power generation,

Green Delta Insurance Company Limited has recently appointed Farzana Chowdhury as managing director and chief executive officer. Prior to join this position, she was additional managing director and Group CFO of the company. She was also an active board member and vice-chairman of the board of directors of the company for the period 2008-2009,

ASM Bulbul has recently joined NRB Commercial Bank as additional managing director. Prior to the start of career in the NRBCB, he was DMD in National Bank. Bulbul started his career as a probationary officer in National Bank in 1984 and served until joining Southeast Bank in 1996. Later he joined Mercantile Bank

Mohammad Shamsul Alam, sponsor director of Standard Bank, has recently been elected executive committee chairman of the bank. After completion of education Alam started his business career and became the proprietor of Radio Vision. He also worked as director of different banks,

The Bangladesh Telecommunication Regulatory Commission is yet to finalise the telecom competition regulation two years after formulation of draft because of the influence from the mobile phone companies, said BTRC officials. They said the commission in 2011 formulated the draft of telecom regulation and sought public opinion on the draft on

Dhaka stocks nosedived on Sunday, first trading session after a nine-day vacation on the occasions of Eid-ul-Azha and Durga Puja, with the key index and turnover hitting their lowest in more than five months as investors refrained from trading amid fears of escalation of political confrontations in the coming days. DSEX, the benchmark general index of ... Read more

Demutualisation Of Dse, Cse Fin min allows current bourse directors to remain in interim board The finance ministry has advised the stock market regulator to allow the current size (24-member) of the boards of the Dhaka and Chittagong bourses for ‘interim boards’ which will oversee the demutualisation process of the bourses. The ministry’s suggestion cleared the ... Read more

Inspection Of Workplace Safety North American retailers unveil list of 620 factories The North American retailers’ alliance has published a list of more than 620 Bangladesh factories, mostly garment units, for inspection and remedial support for building and workers safety. The Alliance for Bangladesh Worker Safety on Tuesday made public the list of the factories, ... Read more

Banks want the bill as there is no tax at source Bangladesh Bank will propose that the government’s cash and debt management committee should reintroduce the 28-day government Treasury Bill amid demand by scheduled banks, said officials of the central bank. A BB official told New Age on Tuesday that a number of banks had recently ... Read more

Biman Bangladesh Airlines has changed its decision of selling out two aircraft as the government has granted sovereign guarantee to the national flag carrier for pre-delivery payment of two Boeing-737-800 aircraft. Biman officials said that two Boeing-737-800 aircraft will be added to Biman’s fleet in mid-2015. For this, Biman has to pay around USD

The anti-sweatshop movement, which blossomed on college campuses in the 1990s, is making a resurgence. This week, Duke University announced that it would require manufacturers of Duke logo apparel to sign an agreement about building and fire safety in Bangladesh. The move comes in the aftermath of

Local think-tank Unnayan Onneshan has said the current anti-poverty strategies have failed to understand the social dimensions of poverty and power imbalances between different classes. The research organisation in a recent book titled ‘Measuring Multidimensionality: State of Poverty in Bangladesh 2013’ said the rate of poverty reduction

Traders eye bigger export earning, urge govt to check smuggling The prices of rawhide following Eid-ul-Azha this year posted more than 30 per cent higher that last year as the demand for the item increased in the international market as well as traders set the minimum price of hide of the sacrificial animals in the ... Read more