Business

Bangladesh Bank has started holding meetings of bank officials and depositors to create awareness about Deposit Insurance Scheme, which is designed to minimise the risk that the depositors suffer for placing funds with a bank. As part of this move, the central bank held meetings of bank officials and depositors in Chittagong and Khulna regions. It ... Read more

Foreign minister Dipu Moni on Monday formally inaugurated the operation of the newly-established NRB Global Bank at a function at Westin Hotel in the city. Speaking as the chief guest, she said that a long standing demand of the non-resident Bangladeshis had been met by establishing the NRB Bank.

Mehboob Chowdhury, chief executive officer of Citycell (Pacific Bangladesh Telecom Ltd), has become co-convener of FIPS 2013, a forum for financial inclusion and payment system, said a news release. The FIPS is a platform whose focus is on understanding the best practices worldwide and implementing them to achieve 100 per cent financial inclusion

The auction of the Bangladesh Telecommunication Regulatory Commission for 3G mobile services has flopped as the government bagged much lower revenue by selling the spectrum than expected target, said a number of officials of the commission. The four operators — Grameenphone, Banglalink,

Majority of the mobile phone companies, which won the 3G spectrum auction on Sunday, will not be able to ensure the service quality as they bought lower amount of spectrum, said Bangladesh Telecommunication Regulatory chairman Sunil Kanti Bose. ‘Most operators took 5MHz spectrum each

State of the economy June 2013 released by govt The next government will face seven major macroeconomic challenges including power and inadequate infrastructure and high cost of doing business to acceleration of the economic development. General Economics Division, the government think tank, stated this in its ‘State of the economy by June 2013’ released at a ... Read more

RMG factory safety American buyers’ team arrives on Sept 15 A team of North American buyers who formed Alliance for Bangladesh Worker Safety Initiative is likely to visit Bangladesh on September 15-16 to prepare the detailed framework of safety programme in the RMG factories under a five-year plan. A delegation of the Alliance led by ... Read more

Japan International Cooperation Agency will give loan amounting to $100 million for the country’s agriculture sector, said Bangladesh Bank officials. A BB official told New Age on Sunday that the government would sign a deal with the Japan-based lender organisation in October this year in this regard.

The Bangladesh Ship Breakers’ Association and the Association of Bankers Bangladesh have signed a joint statement to improve the country’s environmental and social standards in the ship recycling industry, said a press release on Sunday. The BSBA president Hefazatur Rahman

Minimum Wage For Workers BGMEA consults with members in Dhaka, Ctg this week Bangladesh Garment Manufacturers and Exporters Association will hold two separate views exchange meetings of the members in Dhaka and Chittagong and an extraordinary general meeting this week to set proposals for minimum wage for the garment workers. The BGMEA will place its ... Read more

Dhaka stocks declined on Sunday, the first trading session of the week, after a flat week with a fall in turnover as investors, panicked by a rumour that the bourse would initiate investigations into suspected trading in 50 brokerage houses, sold off their shares. DSEX, the benchmark general index of

The USAID on Sunday signed an agreement with the BRAC Bank for providing $5 million (Tk 40 crore) loans to small and medium entrepreneurs in the agricultural sector in Bangladesh. Under this partnership, America will guarantee 50 per cent of each loan, said the U.S. Ambassador Dan Mozena at the signing ceremony at the American

4 cos vie for 4 licences with no competition Four mobile phone operators of the country are poised to be nominated for 3G mobile services as the Bangladesh Telecommunication Regulatory Commission holds auction for four licences today. As there is no competition for the licences, the operators will ‘compete’ for allocation of 40MHz of spectrum, ... Read more

Rmg Factory Inspection US, EU buyers to work together on common safety standards After weeks of wrangling, the North American and European buyers on Saturday agreed in principle to work under a common standard for inspection of structural integrity and fire safety of the garment factories in Bangladesh. Mostly EU buyers and labour rights group formed ... Read more

Demutualisation Scheme DSE’s EPS only Tk 0.60, members worried over IPO prospect The low earning per share of Dhaka Stock Exchange of Tk 0.60 as mentioned in the demutualisation scheme has made the members of the bourse worried about the prospects of its initial public offering to be floated in a few years. The bourse has ... Read more

Petroleum Import Govt to request Kuwait for extending payment time The government has decided to seek extended credit facility from Kuwait in order to facilitate Bangladesh Petroleum Corporation in payment of bills of petroleum imports from the country, Economic Relations Division officials said. At the upcoming joint committee meeting

Dse Weekly Review Stocks end flat as investors watch political development Dhaka stocks ended flat last week in volatile trading with a decline in turnover amid uncertainties on the political front which made investors nervy. The benchmark general index of Dhaka Stock Exchange, DSEX, ended at 4,118.50 points, shedding 0.22 per cent or 8.89 points. DS30, ... Read more

Local furniture manufacturing company HATIL recently signed a global supply agreement with Paul Robert Inc USA to manufacture and export Paul Robert’s customised designed sofa, chair and other household furniture, said a news release issued by Hatil. Hatil will manufacture the furniture for Paul Robert’s

Appollo Ispat Complex Ltd’s authorities on Saturday said that the company was in operation and it was producing Rani-brand corrugated iron sheet. They alleged that some quarters, ahead of the company’s initial public offering, were trying to confuse people by saying that the factory was closed.

The price of onion remained high in the city’s retail markets over the week ending Friday despite the fact that the private sector and the government were importing the item from India, Myanmar and China. Traders said the prices of onion marked fresh rise over the week on the wholesale market. The local onion was retailing at ... Read more