Some 82 people legalised Tk 382 crores of undisclosed money through the stock market in the just-concluded 2011-12 financial year, officials of National Board of Revenue on Tuesday said. They said money whitening facility by paying 10 per cent tax did not attract the holders of undisclosed money last fiscal year and it also failed ... Read more
Business
Waiver of Margin Loan Interest
SEC extends deadline for brokers, m-bankers to Sept 30 The Securities and Exchange Commission on Tuesday extended the deadline to September 30 for the brokers and the merchant bankers to waive the interest of margin loans given to small-scale investors in 2011. ‘The commission has taken the decision at an emergency meeting today following an
BB pumps record amount of money as clients flood banks before Eid
The Bangladesh Bank on Tuesday pumped a record amount of money into the banking system as clients flooded almost all the branches of banks across the capital before the start of the 7-day vacation today. The BB lent commercial and primary dealer banks around Tk 16,522.37 crore through special repurchase agreement and liquidity support on
10-second pulse for each mobile call from today
All the cell phone operators in the country have to introduce ‘10 second pulse’ with each call from today, as the regulator has put special attention for ensuring customers’ benefit, said officials. ‘The operators have to introduce the ‘10 second pulse’ after 12 midnight Tuesday. If they do not do so, it will be a ... Read more
Stocks finish higher before Eid vacation
Dhaka stocks gained on Tuesday amid increased participation of the institutional investors who were hoping the market would be vibrant after the 11-day vacation. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 1.13 per cent or 47.92 points, to close at 4,256.32 points
Banks post mixed profits
Loan provisioning weighs on earnings Earnings of listed commercial banks showed a mixed trend in the first six months this year with half of the banks posting growth in net profit. Net profit of the remaining banks declined during January-June, compared to the same period last year, according to the banks’ half-yearly disclosures made public
Banks open on Thursday
Banks will remain open on Thursday in Dhaka and other areas where garments factories are concentrated, Bangladesh Bank said in a notice yesterday. Banks are also allowed to open all or specific branches on Saturday, ahead of the Eid festival. The branches of all commercial banks in Dhaka, Savar, Ashulia, Gazipur, Narayanganj,
Bangladesh moving slowly up in ICT
Analysts say weak regulatory regimes cast a blight on the sector Bangladesh is moving slowly up in ICT advancement, ranking 113th in the “networked readiness index” this year among 142 countries. In the previous three years, Bangladesh progressed from 130th to 118th to 115th, according to the Global Information Technology Report: Living in a Hyperconnected ... Read more
Telecom sector poised for largest ever investment
The telecom sector is likely to experience the largest ever investment, made by the country’s cellphone operators, by the end of this year, say industry insiders. In 2007 and 2008, the operators had invested Tk 7,484 crore and Tk 10,009 crore, respectively, in the sector. Experts predict that, this year, the amount would be no ... Read more
Export growth declines in USA, EU countries
Export from Bangladesh to most of the key North-American and European destinations failed to achieve its growth in the just concluded fiscal (2011-12) compared to the same period of previous fiscal. Export earnings from USA, the largest market for Bangladeshi goods, registered a negative growth in last fiscal totaling US$ 5.1 billion. According to data ... Read more
Hilsha now pricey
Prices of other fishes go up The price of Hilsa has increased in the city kitchen markets compared to that of the previous week’s price while the price of all kinds of vegetables has been stable. At the Palassey, and New Market kitchen markets, a pair of medium-sized Hilsa was sold for Tk 1300-1500 on ... Read more
Benarasi Palli gives in to Indian products
The shops at Mirpur Benarasi Palli are selling mostly Indian saris while the traditional Benarasi weavers are passing idle time as the customers are opting for the cheaper Indian saris of various designs. Eighty per cent of the products the shops in the sari hub were seen selling are Indian instead of those made by ... Read more
BB asks banks to open accounts for Padma bridge funds
Bangladesh Bank has directed all banks to open two accounts — one for local and the other for foreign currency — for receiving contributions to the fund for the Padma bridge project. For receiving local currency, an account will be opened with all branches of banks, while foreign and authorised dealer branches of banks will ... Read more
Turnover at DSE hits 3-and-half-month high
Dhaka stocks surged on Wednesday with the turnover hitting a three-and-a-half-month high as the institutional investors went for buying ahead of Eid-ul-Fitr. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 1.22 per cent or 50.07 points, to close the day at 4,142.23 points
BTRC making ready 700 MHz spectrum for mobile operators
The telecom regulator is reviewing the options for allocating 700 Megahertz (MHz) spectrum — considered the most valuable at present — for mobile operators. “We want to make the most out of the in-demand 700 MHz spectrum,” said Zia Ahmed, chairman of Bangladesh Telecommunication Regulatory Commission
Businesses want free customs service on weekly holiday, NBR says no
Business leaders on Tuesday demanded that the National Board of Revenue should not charge businesses any extra fees for providing customs facility at customs houses on weekly holidays although they had earlier agreed to pay additional fees. At a discussion meeting on implementation of Business Facilitation Fund, businessmen
Privatization Commission finalises deal papers
Unused SoE land divestment Privatization Commission finalises deal papers The Privatization Commission on Tuesday finalised a document to allow state-owned enterprises to strike deals to divest their unused land to private investors. The commission finalised the document at a meeting which its chairman Mirza Abdul Jalil presided over in its office on the day. The decision ... Read more
Dhaka stocks end flat in choppy trading
Dhaka stocks closed flat on Tuesday in volatile trading as retail investors went for sell-offs while institutional ones bought shares. DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.003 per cent, or 0.12 points, to close at 4,092.16 points
Hotels Int’l Limited signs deals with Pan Pacific Hotels and Resorts
Hotels International Limited and Pan Pacific Hotels and Resorts signed two agreements on Tuesday for hotel management and to refresh the Pan Pacific Sonargaon Dhaka Hotel. Pan Pacific Sonargaon Dhaka Hotel organised the signing ceremony at the hotel. Hotels International Limited and Pan Pacific Hotels Group signed the hotel management
Chittagong shoppers gear up for Eid
Turnout of shoppers at different malls in the port city is rising, as the biggest religious festival for Muslims, Eid-ul-Fitr, comes closer. People of all ages are seen thronging the malls even till midnight. But traders in the city are not happy with their sales this year. Arif Mohammad Faiz, a salesperson at Rich Manz ... Read more