Business

Share prices of the majority of listed banks have declined to below their net asset value per share because of the banks’ poor earnings last year and prospect of low return on investment in the scrips, experts said. They said banks were performing poorly as the financial entities reported low earnings in their half-yearly statements ... Read more

The National Board of Revenue is likely to extend the deadline for submission of income tax returns by individual taxpayers by one month to October 31, NBR officials said. The current deadline expires today. ‘The revenue board is thinking to give

BSEC to issue demutualsiation directive today Seven independent directors to be appointed in the interim boards of the demutualised bourses in November will hold their posts for the next three years, a BSEC official said. He said four member-brokers in the interim boards would retire in February next year after holding elections for the four ... Read more

Country’s leading mobile phone operator Grameenphone on Sunday launched its 3G network in Bashundhara area of the city. Post and Telecommunication minister Shahara Khatun launched the 3G service at a ceremony at GP headquarters at Bashundhara. Shahara later attended a video call of GP’s chief

Dhaka stocks declined on Sunday, the first trading session of the week, as the benchmark general index of the Dhaka Stock Exchange DSEX fell below the 4,000-point mark after one-and-a-half months due to investors’ inactivity on the trading floor. The DSEX lost 1.11 per cent, or 44.58 points,

Alleges factory owner, demands Tk 300 crore in damages The owner of Savar-based Liberty Fashion Wears on Sunday alleged that British retailer Tesco had coerced them into shutting down the factory. He made the allegation at a press conference at the National Press Club in the city. Liberty also demanded Tk 300 crore as damages ... Read more

Bangladesh Bank is going to take a decision to disburse agriculture loans to produce seeds at the farmers-level avoiding the seeds production companies, said officials of the central bank. As per rules of the BB, the scheduled banks cannot now disburse farm loans with interest rate of 13 per cent to the farmers, as the ... Read more

Rural Development and Cooperatives Division has requested the National Board of Revenue for settling value-added tax for cooperative markets across the country at a fixed amount instead of the existing 4 per cent VAT on sale, officials of the ministry said. They said that the division had recently

A huge pie of 1st phase spent on foreign tours of BB staff Bangladesh Bank (BB) is keen to embark on a second phase of capacity building under the Central Bank Strengthening Project (CBSP) to further streamline its functional supervision and enforce tight banking regulations and monitoring, officials in the central bank said. The proposed ... Read more

Telenor Youth Summit Idea Contest Safa, Sami of IBA win Safa Tasneem and Sami Tahsin of the Institute of Business Administration, Dhaka University have won the Telenor Youth Summit Idea Contest. Their idea Bipod Barta allows instant notification to law enforcing agency and family members during danger or emergency and filing

Mobile phone operator Robi launched the ‘3.5G’ service network at two of its outlets in Dhaka and Chittagong on Saturday. Grameenphone is also set for a test launch of the 3G service in the city’s Bashundhara area today. Robi simultaneously launched its 3.5G network

Issuance Of Debit, Credit Cards SoBs way behind PCBs, FCBs  State-run banks are lagging far behind the private and foreign commercial banks in expanding card-based payment system as the eight SoBs issued 57,887 credit and debit cards against 80,27,647 cards issued by the PCBs and the FCBs as on August 31, 2013, said a BB ... Read more

Onion price slightly eases The prices of green chilli and garlic increased on the retail markets in the city over the week ending Friday. Onion price, however, decreased a little and the prices of vegetables remained high in the kitchen markets. Green chilli price increased by Tk 20 a kilogram and it was selling at ... Read more

Hi-Tech Park Cabinet body set to consider bid proposal tomorrow The project to establish the country’s first-ever hi-tech park at Kaliakoir of Gazipur under the public-private partnership is expected to see the light soon as a bid proposal in this regard is set to be considered by the cabinet economic affairs committee tomorrow. Once the ... Read more

Demutualisation schemes get final nod, board size set at 13 The Bangladesh Securities and Exchange Commission on Thursday gave its final approval to the demutualisation schemes of the Dhaka and Chittagong stock exchanges, setting the board size at 13. Once the demutualisation process is completed, both the bourses will turn into profit-oriented companies from

The Bangladesh Telecommunication Regulatory Commission on Thursday blocked operations of 10 international gateway operators for their outstanding dues of Tk 275 crore. BTRC officials said the commission earlier set September 25 deadline for the IGW operators to pay their dues. Five out of 15 operators paid their dues in time.

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