Business

The Bangladesh Bank will from now on publish information on service charge, fee and commission to be charged by banks, on its website, to check the practice of banks overcharging customers. A BB official told New Age on Thursday that the central bank had recently received a large number of complaints from clients of a number ... Read more

The prices of rice and edible oil increased in the city’s retail markets over the week ending Friday due to a supply shortage amid a nonstop countrywide blockade being enforced by the Bangladesh Nationalist Party, traders said. The prices of BR-28, miniket and najirshail increased by Tk 1 a kilogram in the capital’s retail markets in ... Read more

The Food and Agriculture Organisation’s food price index declined in December after three months of stability, showing the third consecutive year of falling prices in all commodities, except for meat. ‘Cereal, vegetable oil, dairy and sugar all dropped in 2014, due to continuing large supplies and record stocks combined with a stronger US dollar and falling ... Read more

A 14-per cent gain in the benchmark index of the Dhaka Stock Exchange in the just concluded year was not significant enough considering the increase in the number of tradable securities at the bourse in the period, capital market experts said. The DSEX advanced by 14 per cent over the year to finish at 4,865 points ... Read more

Says CPD, apprehends capital flight going on in various forms The Centre for Policy Dialogue on Saturday said that the private investment in the country did not pick up to the expected level in the first post-election year because of infrastructure shortage and political uncertainty. At a press briefing on its first report on the state ... Read more

The Bangladesh Telecommunication Regulatory Commission has finalised a guideline to protect the consumer rights in telecom services and bar operators from running irrational and aggressive promotions. BTRC officials said that the guideline was finalised at a regular meeting of the commission on Monday presided over by BTRC chairman Sunil Kanti Bose. They said the

Tax Return Submission NBR asks field offices to strengthen monitoring on time-seekers The National Board of Revenue has instructed its field offices to strengthen monitoring on time-petitioners so that all of them submit income tax returns by extended time, officials said. Every year a significant numbers of taxpayers’ identification number holders, being failed to submit ... Read more

The Centre for Policy Dialogue on Saturday suggested that the government should not increase the prices of electricity and gas right now considering probable negative impact on production and investment in the country. ‘We are not in favour of raising prices of electricity and gas right now as there are no reasons to do so,’ CPD ... Read more

Increased trend raises suspicion of money laundering The country’s capital machinery imports registered a 21.29 per cent increase in the first five months of the current financial year 2014-15 compared with the corresponding period of the FY14. The increased trend has raised a suspicion of money laundering as the country has been experiencing a dull business ... Read more

Foreign investors’ participation at the Dhaka Stock Exchange increased to an all-time high in 2014 as their turnover at the bourse rose by 84.56 per cent during the year compared with that in the previous year. In 2014, the overseas investors bought shares worth Tk 4,406 crore against their Tk 1,798 crore sales, which were Tk 2,652 ... Read more

The prices of onion and garlic went up in the capital’s kitchen market over the week ending Friday due to off-seasonal supply shortage, traders said. Prices of onion increased by Tk 5 a kg and the item was selling at Tk 35-Tk 45 a kg while the imported one was selling at Tk 40-Tk 45 a ... Read more

The election commission of Dhaka Stock Exchange has announced the voting schedule for the bourse on February 9 to elect one shareholder director of the bourse. The three-member election commission headed by former justice Md Abdus Samad declared the schedule on Thursday. Out of the four shareholder directors,

The Asian Infrastructure Development Bank is expected to go into operation before the end of 2015, according to China’s Ministry of Finance, reports IANS. The ministry said that the founding nations of the bank were expected to complete negotiations over and subscription of the bank’s charter and regulations before

The National Board of Revenue is likely to miss the revenue collection target in the current fiscal year, the third consecutive year in a row, mainly due to slowdown in economic activities including investment and sluggish domestic consumption, officials of the revenue board said. They said revenue shortfall might hit a record by around

Operating profits of most of the scheduled banks in the country increased slightly in the just-concluded year due to lower rate of interest on deposit against higher rate on lending in the maximum period of 2014, said senior officials of scheduled banks. They said that the banks had also made write-offs and rescheduling to decrease their ... Read more

Maintaining the compliance issues and avoiding the possible political unrest will be the key challenges to the country’s readymade garment sector in 2015 after a year of sluggishness in export, said economists and exporters. The country’s export earnings largely depend on the RMG sector and the challenges of the sector are the main challenges for the ... Read more

Recapitalisation Tk 1,500cr released for Sonali, BASIC The finance ministry has sanctioned Tk 1,500 crore as recapitalisation fund for state-owned banks–Sonali and BASIC—as the scam-hit public sector banks suffer from huge capital shortfall. The bank and financial institutions division of the finance ministry on Tuesday released the fund separately in favour of the banks concerned, attaching ... Read more

Bourse MD says revenue income was not that satisfactory in 2014 Dhaka Stock Exchange managing director Swapan Kumar Bala on Wednesday blamed Bangladesh Bank for violating the central bank’s own regulations in calculating banks’ capital market exposure. Swapan made the blame at the year-end media meet at the DSE office in the city. DSE chief regulatory ... Read more

The Bangladesh Securities and Exchange Commission for the third time on Wednesday extended the suspension period for the rule 3(5) of the Margin Rules-1999 by another six months to allow investors with margin loans to trade shares despite a 150-per cent fall in their portfolio value. ‘Following a request from the Dhaka Stock Exchange, the commission ... Read more

Bangladesh Securities and Exchange Commission on Tuesday fined a company and three brokerage firms Tk 18 lakh for violating various securities laws. The decision was taken in a regular meeting of the commission on the day presided over by BSEC chairman M Khairul Hossain. The BSEC fined MP Spinning Mills