Business

Demutualisation Scheme BSEC likely to cut DSE, CSE board size Bangladesh Securities and Exchange Commission is likely to reduce the number of directors in the boards of the demutualised Dhaka and Chittagong stock exchanges to 10-12 from 19 as proposed by the bourses, said commission sources. The bourses in the demutualisation scheme submitted on

Businesses at a seminar on Saturday said political instability, corruption and absence of a proper policy were the main challenges Bangladesh was now facing in attracting foreign direct investment to the country. At the seminar on opportunities and challenges of the foreign direct investment organised by the Dhaka Chamber of Commerce and Industry,

Despite the expansion of microcredit and banking system, more than 26 per cent of the households in the country still rely on the informal financial services like local lenders, found a new study of the Institute of Microfinance. The study, presented at a conference on Saturday, showed that 65.69 per cent of the households had ... Read more

Economic Relations Division is going to host an international workshop in Dhaka today on post-Millennium Development Goal on the global partnership for effective development cooperation. The three-day workshop titled ‘Asia Workshop on the global partnership for effective development cooperation: links to the post-2015 development agenda,’

Dhaka stocks remained positive for the second week in last week with bigger turnover as investors increased their participation amid optimism about development on the political front. Before the two weeks of rise, the market passed four weeks in the red. Market operators said investors remained upbeat

ICCB vice-president tells workshop The recent scams at the banks are nothing but straight cheating by some so called companies in connivance with a group of bank officials and influential group. The Bangladesh Bank is taking measures to prevent the scams, but incidents are growing faster than actions, International Chamber of Commerce Bangladesh vice-president Latifur ... Read more

Grameenphone on Saturday invited young and talented students to participate in a competition under ‘Telenor Youth Summit-2013’ to be held in Oslo, Norway in December 9-11. ‘GP invites young people to submit innovative ideas for the summit. Bringing about positive social change in the country through applying mobile technology

Hafiz Ahmed Mazumder has been unanimously re-elected the chairman of Pubali Bank while Habibur Rahman was re-elected the vice-chairman recently, said a press release. Lawmaker Hafiz, who is also an industrialist and tea planter, is associated with many social welfare activities. He established Hafiz Majumder Education

A government committee on non-concessional loan is likely to approve tomorrow a Power Division proposal to take $132 million in buyers’ credit from two banks of China with high interest rate of around 4 per cent for setting up a 150-mega watt power plant. The Economic Relations Division will place the Power Division’s

AD Branches BB threatens to cancel licences if banks fail to stop irregularities The Bangladesh Bank has warned the scheduled banks that it would take tough action against them if they fail to settle overdue inland and foreign bills in their authorised dealer branches. The central bank’s warning came from a meeting titled ‘irregularities in ... Read more

The price of onion remained high in the city’s kitchen markets in last week, hitting its peak in the week at Tk 90 a kilogram on Monday. It, however, fell slightly after Tuesday and the commodity was selling at Tk 70-Tk 75 a kg on Friday. Before Eid-ul-Fitr, the price of the imported

Bangladesh’s taka has become almost equal to the Indian rupee, gaining over 30 per cent since January 2012. Bangladesh taka was 1.71 against a rupee on January 27, 2012. It closed at 1.19 a rupee on Thursday last while Pakistani rupee was 1.85 against a rupee on February 22, 2012, according to a report of ... Read more

EPB yet to submit drafts in five months The government’s initiative to introduce a transparent and accountable sub-contracting system in the readymade garment sector has made little headway in the last five months as the Export Promotion Bureau is yet to submit its draft proposals despite repeated reminders. After the Tazreen Fashions fire in November ... Read more

Relocating RMG Factories BGMEA seeks Tk 720cr BB loan at low interest rate Bangladesh Garment Manufacturers and Exporters Association on Thursday urged the Bangladesh Bank to grant garment owners loans worth Tk 720 crore at a low interest rate so that they could relocate their factories at the garment economic zone at Gazaria in Munshiganj. ... Read more

Ad on UAE Flat Sales No resident Bangladeshis allowed to buy apartment aboard: BB The Bangladesh Bank on Thursday said resident Bangladeshis have no scope to purchase flat or apartment in foreign countries by transferring fund from the country as per rules of Foreign Exchange Regulation Act 1947. Advertisements are being published in well-reputed newspapers, ... Read more

A commerce ministry team is likely to go to Myanmar in the next week to study the feasibility of onion import from the country amid price spiral of the item in the domestic market. The team will explore the import possibility of essential commodities including onion in an aim to keep the price of the ... Read more

The Bangladesh Securities and Exchange Commission on Thursday withdrew suspension order on the Tk 220-crore initial public offering of the controversial Appollo Ispat Complex Limited. The BSEC had suspended the IPO of the company in February this year following an intervention of finance minister AMA Muhith.

Stock Refinancing Scheme BB to release Tk 300cr 1st tranche Sunday Bangladesh Bank, Bangladesh Securities and Exchange Commission and Investment Corporation of Bangladesh on Thursday signed a memorandum of understanding to release Tk 900 crore refinancing scheme for stock investors. BB executive director SM Moniruzzaman, ICB managing director Md Fayekuzzaman and BSEC executive director Saifur ... Read more

Asset management companies in the country have sought tax privilege at reduced rate for 10 years from the National Board of Revenue, officials of the NBR said. In a recent application, Association of Asset Management Companies, led by state-owned Investment Corporation of Bangladesh, demanded the NBR

Dhaka stocks gained on Thursday, the last trading session of the week, with an increased turnover riding on expectations that the government would soon release the first phase of the refinancing scheme for the affected small investors. The finance ministry on Monday approved the guideline to disburse loans worth Tk 900 crore among the affected ... Read more