Business

Inter-Bank ATM Transaction Bangladesh Bank now decides to impose charge at Tk 15 Bangladesh Bank backtracked from its earlier decision of imposing a fee at Tk 20 on each inter-bank ATM transaction from currently charged Tk 10 amid criticism from different quarters, said officials of the central bank. The central bank has now decided to impose ... Read more

Bangladesh Bank on Monday asked scheduled banks not to outsource its core and risk management-related functions and core banking operations from outsourcing service providing organisations. The BB issued a circular and guidelines to managing directors and chief executive officers of all banks on outsourcing arrangements asking them to conduct their outsourcing

Stocks Refinance Scheme ICB gets Tk 300cr in 2nd tranche from BB The Investment Corporation of Bangladesh on Monday received Tk 300 crore, the second tranche of the Tk 900-crore government refinance scheme for the small-scale investors affected by the 2010-11 stock market crash, from Bangladesh Bank after six months of making demand. The supervision ... Read more

The telecom regulator has issued a directive to the internet service providers asking them to maintain the rules for providing VPN service, a data communication service within any organisation. A BTRC directive issued on Sunday said that the ISPs can only provide VPN connection to government organisations and commercial offices and no third party use of ... Read more

Nonstop Blockade Poultry sector incurs Tk 256cr losses in 14 days Country’s poultry industry incurred losses of Tk 256 crore in the last 14 days as the countrywide nonstop blockade being enforced by the BNP-led alliance disrupted supply chain, industry insiders said on Sunday. Bangladesh Poultry Industries Coordination Committee leaders at a press conference at the ... Read more

BB Refinance Scheme BGAPMEA, BTTLMEA members to get loans Member industries of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association and the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association will get loans from Tk 200-crore revolving fund of Bangladesh Bank to ensure their security system avoiding fire accidents. The BB issued a ... Read more

The Dhaka Stock Exchange board on Sunday decided to enlist IFAD Autos which has already raised Tk 63.75 crore through an initial public offering after regulatory approval. In the IPO the company floated 2.12 crore shares with an offer price of Tk 30 each share including Tk 20 in premium. The Bangladesh Securities and Exchange

Interest spread rate increases to 5.17 percentage points Scheduled banks in November further cut rates of interest on their deposit products due to rising excess liquidity in the banking sector amid lower loan disbursement in the industrial sector for dull business, according to the Bangladesh Bank data released last week. The weighted average interest rate ... Read more

Power Division takes new plan to expand current project In an effort to sharply reduce the use of conventional power, Power Division has initiated a move to install 5,00,000 solar-powered pumps across the country by 2020 for irrigation. The Power Division is currently moving ahead with a programme to replace about 1,50,000 diesel- and conventional electricity-run ... Read more

The prices of edible oil, onion and garlic went up in the capital’s kitchen markets over the week ending Friday. Traders said that the refiners increased the prices of bottled soya bean oil and the prices of onion and garlic increased due to supply shortage as nationwide blocked disrupted supply chain. The prices of bottled soya ... Read more

To focus on financial inclusion programme amid dull business Bangladesh Bank may keep unchanged the private sector credit growth target in the upcoming monetary policy for January-June of 2015 considering the existing lower credit demand from the private sector amid political unrest and uncertainty, said officials of the central bank. Under the monetary programme for ... Read more

15,000 cases involving Tk 26,000cr await settlement The government has decided to appoint a panel of lawyers at the National Board of Revenue to conduct tax-related cases to recover huge amount of revenue, officials said. The Internal Resources Division of the finance ministry at an inter-ministerial meeting on January 6 took the decision for speedy ... Read more

Has to kill one crore chicks each week The poultry industry has been facing serious setbacks with small and medium farmers incurring losses unable to sell chicken and eggs to due to transport problems caused by the nationwide blockade. About one crore one-day old chicks, worth Tk 30 crore, had to be killed in one week ... Read more

Dhaka stocks finished flat on Thursday, the last trading session of the week, with a decreased turnover as investors remained shaky amid a dawn-to-dusk general strike enforced by the BNP-led alliance. The key index of Dhaka Stock Exchange, DSEX, closed at 4,956.09 points, adding 0.08 per cent or 4.40 points on the day. Turnover at the bourse, ... Read more

The IMF is set to quit the ECF programme soon as the government has failed to commit implementation of roadmap for the new value-added tax act, suggesting a bitter relation between the government and the lending agency. The pre-mature ending of the reform programme that was undertaken about three years back to bring about regulatory changes ... Read more

The National Board of Revenue and Bangladesh Bank are going to introduce electronic letters of credit to prevent use of fake LCs as well as to facilitate importers and exporters in smooth international trade, officials concerned said. They said the system would check tax dodging through submitting fake LCs to the customs offices. The online or e-LC ... Read more

BB frames draft policy Scheduled banks will have to take CIB clearance from Bangladesh Bank to issue credit card to their clients so that a single client cannot avail a number of cards from different banks violating the regulation, according to the central bank’s credit card draft policy. As per the central bank regulation, a ... Read more

The index committee of Dhaka Stock Exchange has recommended that 18 new companies should be included in the bourse’s broad index, DSEX, and five companies in the blue-chip index, DS30. The DSE index committee on Monday made the decision as per the S&P Dow Jones Indices-set criterion which will be effective from January 18, a DSE ... Read more

Cuts global outlook Bangladesh’s economy will expand steadily in the next three years, with the growth of the gross domestic product rising to 7.0 per cent in 2017, according to the latest report of the World Bank. The report, Global Economic Prospects 2015, released in Washington DC on Tuesday (early Wednesday in Bangladesh), projects that GDP ... Read more

The country’s trade deficit in the first five months of the current financial year 2014-15 soared to $4.48 billion, equalling the previous record registered in July-November of the FY12 due to a massive drop in export earnings against higher import payment. According to Bangladesh Bank data released on Tuesday,