Business

The Japan government has finalised the modalities of its pledged US$400 million loan for building Bangladesh’s largest rail-cum-road bridge over the mighty Padma, officials said. Finance ministry officials said Japan would charge 0.01 per cent interest for its proposed loan providing 40 years’ repayment facilities with 10 years’ grace

Investors at Dhaka Stock Exchange went for heavy buying of banking and non-banking financial issues pulling the benchmark general index of the bourse by 114.92 points on Thursday. The total traded turnover on DSE also rose by Tk 700.33 crore on the closing day of the week as investors, buoyed by the market regulators’ latest ... Read more

Social Islami Bank has filed a suit against Gonoshasthaya Grameen Textile Mills for not paying off a Tk 3.66 crore loan in time. Md Sadequl Islam, Sirajganj district branch manager of the bank, filed the suit with Sirajganj Artha Rin Adalat (money loan court) on

Bangladesh has achieved remarkable success for improving its regulation and control of veterinary drugs in shrimp farming as well as for the development of a unique traceability system under public private partnership (PPP), said a government official. “We got acclamation from the EU authorities for the development of a system to ensure food

Ezetop, an Ireland based top-up facility provider, is set to provide services to non-resident Bangladeshis (NRB) from March. The company will buy talk-time from local telecom operators and sell to people living or working abroad. Consumers will be able to instantly top-up the credit balance on their friends and family’s

Mohammad Abdullah became the managing director of IFIC Bank Limited on Wednesday. Prior to the assignment, he was the deputy managing director of the bank, said a news release. Abdullah started his career with Agrani Bank in 1973 as probationary officer and held different positions in the bank. He joined IFIC Bank Limited in March ... Read more

Mutual Trust Bank Limited on Thursday launched four new retail loan products, personal loan, auto loan, home loan and home equity loan, as part of its programme to diversify products and services. Launching the products at a ceremony at the MTB Centre in Gulshan, the bank’s managing director and chief executive officer Anis A Khan ... Read more

The telecom regulator has finalised the draft licence renewal guidelines for the telecom sector, under which the four major operators are likely to pay a combined Tk 14,000 crore for licence renewal next year. The renewal fee for the four operators, whose licence will expire next year, will be Tk 10 crore each, according to ... Read more

The top official of the country’s prime bourse resigned from his post yesterday, much ahead of his tenure’s expiry. Satipati Moitra, who took over as the chief executive officer of Dhaka Stock Exchange December 24, 2009 for three years, in his resignation letter cited his deteriorating health condition as a

The regulator has extended time for execution of the rules on stockbrokers’ margin on additional trade exposure. “On receipt of appeals from Dhaka Stock Exchange, we’ve agreed to give more time to stockbrokers to go by such margin rules. The new deadline is January 2,” said an official of Securities and

The Customs, Excise and VAT commissionerate has taken stringent measures to clear its divisional and circle offices of un-appointed aides, popularly known as ‘Faltus’, who act as middlemen in unscrupulous deals between clients and the officials. The government is deprived of a huge amount of VAT which these ‘Faltus’ negotiate between

Bangladesh may achieve a 6.2 percent GDP growth this current fiscal year because of a steady rise in investment, particularly in power sector, a recent Citi report has forecast. The FY 2010-11 GDP growth target has been set at 6.7 percent. Such growth was 6 percent a year earlier. The report, Asia Macro and Strategy ... Read more

NBR collects record revenue in July-October The government will reduce tax incentives for different sectors to help increase tax collection, said National Board of Revenue (NBR) officials yesterday. Also, in the new income tax law, truncated tax will be withdrawn in case of VAT at retailer level, they said. The NBR officials said revenue collections ... Read more

Dhaka stocks dropped on Monday for the straight second day as investors, unnerved by a rumour of netting facility suspension move by the regulators and tensions in the political arena, sold off their possessions in afternoon trading, market operators said. The benchmark general index of Dhaka Stock Exchange lost 59.45 points or 0.69 per cent ... Read more

Italian sportswear company Lotto has recently signed a ten-year licensing deal with local Express Leather Products Ltd in Dhaka. The deal will allow Express to produce, distribute and retail Lotto-branded footwear, accessories in Bangladesh from January. Lotto also plans to give the same authority for apparel to the local

The commerce ministry sits with edible oil refiners today to find the reasons behind soaring soybean oil prices. Depending on the brand, the retail price of five litres of packed soybean oil stands at Tk 514-560 from Tk 464-494 earlier, traders said yesterday. The price of loose soybean oil crossed Tk 100 a

Walton Hi-tech Industries Limited is going to relocate a Korean mobile phone manufacturing plant to Bangladesh which is scheduled to come into operation early next year, advisory director of the company, Mizanur Rahman, said on Sunday. The handsets to be manufactured by the plant will be marketed under a local brand, he

Textile chemicals company Huntsman Textile Effects organised a programme in Dhaka yesterday to highlight its activity and the future of its business in Bangladesh. The multinational’s local agent, Swiss Colours Bangladesh, co-organised the event styled ‘Avitera SE & Eriopon LT – A Revolution in Exhaust Dyeing’ at

The government will punish people trading coins of Tk 1 denomination for more than their value. In a statement on Sunday, the Bangladesh Bank said it could not ascertain the reason behind the surge in demand for these yellowish coins. The central bank statement, however, did not elaborate on the mode of punishment or

Radisson Water Garden Hotel has organised a six-day food festival to promote Bangladeshi cuisine. The festival kicked off on November 25 and will continue serving diners until tomorrow, said Razeen Abhi Mustafiz, assistant public relations manager for the five-star hotel. “The purpose of the festival is to endorse Bangladeshi food, which is gaining popularity around