Business

Says Wahiduddin Mahmud at the Citi microentrepreneurship awards launch Former caretaker government advisor and economist Wahiduddin Mahmud on Thursday said the country’s micro-entrepreneurs, garment workers and farmers were keeping the economy vibrant despite barriers put up by politicians. He said that the politicians should take lessons from these hard working people who were bringing forward the ... Read more

A new memorandum of understanding between Bangladesh Bank and state-owned banks will be signed soon in line with conditions prescribed by the International Monetary Fund, banking division officials said. IMF has tagged the condition with the disbursement of next tranche of its current credit programme called the extended credit facility it signed last year

Commitments made by the international lenders and development partners to give loans and grants to Bangladesh declined by around 89 per cent to $63.17 million in the first two month of the current fiscal year 2013-14 compared with that in the same period of the previous fiscal year, Economic Relations Division data showed. The data ... Read more

Bangladesh Bank on Thursday asked scheduled banks to open bank accounts with an initial deposit of Tk 100 for leather sector workers so that they could receive their wages and allowances through the accounts. The BB in a circular asked the banks not to impose any kind of chares and fees on workers of small ... Read more

Unusual Price Hike BSEC asks DSE to probe 12 companies Bangladesh Securities and Exchange Commission on Thursday decided to ask the Dhaka Stock Exchange to investigate unusual price hike of 12 companies that witnessed 50 per cent to 150 per cent price hike in the last 15 days. The decision was taken at a regular commission ... Read more

US senator Robert Menendez, also the chairman of the Senate Foreign Relations Committee, has urged American retailers to help make a lasting contribution to the safety of Bangladeshi garment workers and the sustainability of the country’s garment industry. In a letter to former US representative Ellen O’Kane Tauscher, chair of the board of directors of the ... Read more

Exploring New Markets 14-member team to visit Russia, 4 other countries A14-member trade delegation led by commerce secretary Mahbub Ahmed will leave Dhaka on Sunday for Russia and four other central Asian countries with a view to exploring potential of export markets. The delegation would hold government level meetings in Russia, Uzbekistan, Kyrgyzstan, Ukraine and Kazakhstan ... Read more

Bangladesh Securities and Exchange Commission on Thursday extended the share trading facility for the investors who had been barred from trading due to margin loan rules to March 31, 2014 from September 30, 2013. The BSEC earlier allowed the facility for the investors until September in a bid to break the stagnancy at the capital market ... Read more

Dhaka stocks ended flat on Thursday, the last trading session of the week, with a declining turnover as the state-owned entities kept the market afloat. The benchmark general index of the Dhaka Stock Exchange, DSEX, finished flat at 4,013.37 points, adding 0.18 per cent, or 7.45 points on the day.

Jyothy Laboratories Limited, an Indian consumer goods company, is going to launch in Bangladesh its flagship brand Ujala Supreme through its subsidiary joint venture company Jyothy Kallol Bangladesh Ltd. Jyothy Kallol Bangladesh Ltd is a joint venture between Jyothy Laboratories Limited India and Kallol Enterprises Ltd Bangladesh with modern and advanced

The posts and telecommunications ministry sees no justification of the telecom regulator’s proposal to lower the international incoming calls to 1.5 cents from existing 3 cents for international gateway operators. The Bangladesh Telecommunication Regulatory Commission in July sent a proposal to the telecom ministry to slash the call rate and government revenue sharing

BTC identifies 190 products The Bangladesh Tariff Commission has primarily identified 190 products for seeking duty-free and quota-free market access for the products to the Gulf Cooperation Council countries, commerce ministry officials said.  They said the products were identified as those have great export potentials to the Gulf countries. As per request of the ministry, the ... Read more

The total number of credit and debit cards in the country’s banking system stood at 80,85,834 as of August 31, 2013 as the majority of the scheduled banks issued the cards at a fast pace in recent years to meet their clients’ demand, said a Bangladesh Bank report. BB officials told New Age on Wednesday ... Read more

Bourses’ Demutualisation Schemes get BSEC nod today The Dhaka Stock Exchange on Wednesday proposed that the Bangladesh Securities and Exchange Commission should set the size of board of directors of the demutualised stock exchange at 15 with six member-brokers. The DSE president Ahasanul Islam informed reporters about the bourse proposal after appearing before the BSEC for ... Read more

The country’s second largest mobile phone operator Banglalink on Wednesday announced that it would launch the 3G services in some selective areas of the Dhaka city by October. Banglalink on the day gave a demonstration of the 3G services at a press conference held at Westin Hotel in the capital. Banglalink chief executive officer

Dhaka stocks declined on Wednesday as the ongoing unrest in the readymade garment industry started to affect the stock market. The apparel workers’ unrest over salary hike stepped into fifth consecutive day on Wednesday. Trading suspension of shares of two low cap companies by the Dhaka Stock Exchange’s management also made investors anxious, market operators said. The benchmark ... Read more

The Bangladesh Bank board on Wednesday decided to give Tk 800 crore loan to state-owned Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank for credit disbursement in agriculture sector. The BB board at a meeting took the decision to give Tk 500 crore to BKB and Tk 300 crore to RAKUB with five per cent ... Read more

The Dhaka Stock Exchange on Wednesday halted trading of Rahima Food due to unusual hike in share prices. The DSE management suspended trading of the company at 10:34 am, just four minutes after the start of day’s trading. DSE officials said that the trading of the company would resume Thursday. The shares of Rahima Food, which were

The net investment in the national savings certificates and bonds increased by 184.90 per cent in the first two months (July-August) of this fiscal year 2013-14 compared with that in the same period of the FY 2012-13 because of a dull investment situation in the productive sector and a lower rate on the banks’ savings ... Read more

Bangladesh Telecommunication Regulatory Commission on Tuesday changed the licences of call centres into registration certificate in a bid to reduce complexity over opening the business. The BTRC order said the registration certificate fee for call centre services and business process outsourcing will be