Business

Interest spread rate in the banking sector continued to decline as the most of the scheduled banks are now enjoying balanced deposit against a lower loan disbursement amid dull business situation in the private sector, said officials of Bangladesh Bank. According to the latest BB data, the overall interest

Potato traders and growers have been facing an embarrassing situation with their huge unsold potato due to less market price in Rajshahi. According to the traders, the huge potato remained stockpiled in 26 cold storages as the owners didn’t lift those due to dull market price and supposed

12 Cos’ Unusual Price Hike DSE asked to submit probe report in 15 days The Bangladesh Securities and Exchange Commission has directed the Dhaka Stock Exchange to investigate within 15 working days the unusual price hike of 12 companies with low capital that witnessed 50 per cent to 150 per cent price hike during September. ... Read more

The Kingdom of Saudi Arabia will recruit maids and drivers from 12 Asian countries, including Bangladesh, as it has been facing shortage of those types of workers recently. The other Asian countries are Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Vietnam, Cambodia, Nepal, Laos and India.

As Eid-ul-Azha approaches, the sale of refrigerators has reached its peak in all showrooms and marketplaces in the city. Apart from local companies including Walton Hi-Tech Industries Ltd, Marcel and MyOne, sales of foreign ones such as LG, Esquire, Hitachi and Singer have soared up. The sales outlets of the brands are now buzzing

Grameen-Uniqlo, a social business initiative of Japanese clothing chain Fast Retailing Company Limited, on Friday opened its third store in the capital, offering quality, comfortable and affordable clothing. Grameen-Uniqlo chief operating officer Tadahiro Yamaguchi inaugurated the new store at Kakoli, Banani offering ‘ultimate shopping experience

The scheduled banks and non-bank financial institutions disbursed to the rural entrepreneurs only 24.33 per cent of the total SME loans they distributed in the first half of this year. According to the latest Bangladesh Bank data, the banks and the NBFIs disbursed Tk 10,184.85 crore in loans to the SMEs located in the rural ... Read more

The National Board of Revenue got little response from the company taxpayers in obtaining online generated taxpayers identification number even in three months after introduction of the system in July as only 3,182 existing firms registered for e-TINs. Now the revenue board is going to instruct its field offices in next week for completing e-TIN registration ... Read more

Three mobile operators got approval of tariff structure for the third-generation cellular phone service. Officials said Banglalink and Robi were given approval Thursday while Grameenphone on Wednesday. However, another 3G licensee, Airtel, was yet to submit its tariff plan for regulatory approval. The Bangladesh Telecommunication Regulatory

Plans to complete inspection by April, 2014 The Accord on Fire and Building Safety in Bangladesh on Thursday made public a list of nearly 1,600 factories covered by the pact, employing more than 2 million workers, a key step toward improving safety in the garment industry by making its supply chain more transparent. The organisation ... Read more

Demutualisation scheme made public The Dhaka Stock Exchange on Thursday made public the demutualisation scheme as per which the DSE will keep 60 per cent of its member-brokers’ shares in a block account until it goes for an initial public offering. Under the scheme, 250 member-brokers of the DSE, who will turn into shareholders of ... Read more

The Federation of Bangladesh Chambers of Commerce and Industry on Thursday demanded for keeping sea ports, land ports and customs offices open on a limited scale during coming vacation of Eid-ul-Azha and Durga Puja. In a press release, the country’s apex trade body said that the ports and custom offices should be kept open during government ... Read more

Sri Lankan High Commissioner to Bangladesh WA Sarath K Weragoda on Thursday emphasized on signing free trade agreement with Bangladesh to derive mutual benefits through boosting trade and commercial activities. If FTA is signed, Sri Lanka can import jute from Bangladesh for its booming jute industry and Bangladeshi investors can also go to Sri Lanka for

Dhaka stocks finished in the red on Thursday, just after a session on the up, while the turnover plummeted, reflecting the investors’ lack of confidence in the market. The turnover of the bourse declined to Tk 264.65 crore from the previous trading session’s Tk 286.63 crore while the benchmark general index of Dhaka Stock

Onion Import From India Banks to keep open land port branches every day before Puja, Eid The Bangladesh Bank on Thursday asked the scheduled banks to keep open their branches located at the land ports along the border between Bangladesh and India in weekly holidays before Eid-ul-Azha and Durga Puja to facilitate uninterrupted onion import ... Read more

Bangladesh Finished Leather, Leather Goods and Footwear Exporters’ Association plans to sign an agreement soon with the Bangladesh Small and Cottage Industries Corporation as part of the shifting process of Hazaribagh’s tannery industries to Savar. Newly elected president of the association M Abu Taher said this at a function in connection with inauguration

Warns ADB in Asian Development Outlook Update The Asian Development Bank on Wednesday projected that Bangladesh’s economic growth would decline further to 5.8 per cent in the current fiscal year, 0.2 percentage point lower than its earlier projection, due mainly to political tension ahead of next general elections. Lower growth in export and slower investment

The inflow of remittance decreased by 12.95 per cent in September this year compared with that of the corresponding month in last year, belying the usual trend of a rise in the inflow ahead of Eid festivals. Bangladesh Bank officials told New Age on Wednesday that it was a negative sign for the country’s macroeconomic ... Read more

Demutualisation Implementation Confusion over DSE interim board size Confusion over the size of the ‘interim board’ of Dhaka Stock Exchange during the demutualisation process has been surfaced as the bourse board on Wednesday decided to keep the existing 24 directors in the ‘interim board’ while the market regulators’ said that the size would be 13. ... Read more

24 lakh new users added in Aug ahead of 3G launch The number of subscribers of the country’s mobile phone companies neared 11 crore in August as the operators added more than 24 lakh new subscribers in the month. The figure reached 10.93 crore in August as the upward trend in the SIM sales since ... Read more