Business

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

718 fake TIN using businessmen detected The National Board of Revenue is going to take stern action against the users of fake taxpayer’s identification number amid an allegation that many business firms and individuals have been using false TINs, officials said. The revenue board has recently formed a committee to recommend what kinds of measures can ... Read more

New pay scale to put pressure on inflation Bangladesh Bank on Tuesday said that there was investment stagnancy in the country in the outgoing year of 2014 due to political turbulence, general strikes and blockades in 2013. It also warned that an upward pressure on inflation will remain in the new year of 2015 due ... Read more

Card-Based Transactions BB to ask banks to follow int’l security standard of PCI Bangladesh Bank will ask scheduled banks to follow the international security standard while operating their card-based transactions to avoid fraudulent acts and forgeries, central bank officials told New Age on Tuesday. Major card brands including American Express, Discover Financial Services, Japan Credit Bureau, ... Read more

The small-scale investors affected by 2010-11 market crash are yet to recover losses although the market recovered some grounds during 2014, experts have said. The key index of Dhaka Stock Exchange, DSEX, advanced by 13 per cent over the year to finish at 4,865 points on December 30 after beginning the year

Dhaka stocks advanced for the second trading session on Tuesday with increased turnover amid institutional investors’ active participation on the trading floor due to year end portfolio rebalancing. The key index of Dhaka Stock Exchange, DSEX, finished at 4,864.96 points, adding 1.05 per cent or 50.80 points. Market operators said that Tuesday’s market was mostly driven

Traders smell rat in ‘unnecessary import’ The import of rice increased by 295 per cent to $63.59 million in November this year from $16.07 million in the same month a year ago, although the government has started to export rice to Sri Lanka for the first time. According to Bangladesh Bank data released on Monday apart ... Read more

BTRC launches enquiry The telecom regulator has launched an enquiry into the mobile phone operator Grameenphone’s move to sell its old numbers at prices up to Tk 30,199 per connection. Bangladesh Telecommunication Regulatory Commission officials said such high prices for SIM connection were not permitted by the BTRC. They said

Dense fog and chilly weather are likely to harm rice seedlings and the standing crops of potato, tomato and mustard, said the Department of Agricultural Extension officials. They said that potato output could drop due to early or late blight disease. Alternaria blight disease could affect mustard and leaf blight

Bangladesh Bank has asked scheduled banks and non-bank financial institutions not to close incomplete KYC (know your client) accounts which were opened before April 30, 2002 as some banks has recently taken move to seal the accounts violating the banking rules and regulations. The BB issued a circular to managing directors and

BSEC may decide about the request Wednesday The Dhaka Stock Exchange on Monday put forward a proposal that the Bangladesh Securities and Exchange Commission should allow single-scrip netting facility at the bourse as the new trading system introduced by the DSE is capable of preventing misuse of the scope. The bourse made the proposal after ... Read more

Dhaka stocks ended positive on Monday after a three-day fall with an increased turnover amid a lacklustre countrywide dawn-to-dusk shutdown enforced by the Bangladesh Nationalist Party-led alliance. The key index of Dhaka Stock Exchange, DSEX, finished at 4,814.16 points, gaining 0.26 per cent or 12.81 points. Turnover at the bourse increased to Tk 189.58 crore on Monday

BB Circular On Money Launbering, Terror Financing Banks to monitor accounts of head of state, top officials, politicians Bangladesh Bank on Sunday asked scheduled banks to monitor the bank accounts of head of state, politicians and influential persons on regular basis to prevent money laundering and terrorist financing. The BB issued a master circular in line ... Read more

Recapitalisation Fund For Scam-Hit State-Owned Banks BASIC to get Tk 790cr, Sonali Tk 710cr this week The finance ministry is set to inject Tk 1,500 crore into the two state-owned commercial banks—Sonali and BASIC—soon to shore them up from capital crunch and keep them afloat. The recapitalisation fund would be released this week, a senior official ... Read more

Safta Trade Liberalisation B’desh cuts customs duty on 4,610 items for ’13, ’14 The government has cut the customs duties on 4,610 products for 2013 and 2014 calendar years for trade under the South Asian Free Trade Area, officials of the National Board Revenue said. They said that the revenue board on December 17 issued a ... Read more

ADB to lend $250m for the programme The government plans to embark on an ‘inclusive capital market reform programme’ with participation of pension and provident funds and introduction of Islamic bonds to energise the ailing stock business. Six broad areas of policy interventions are the salient features in the planned reforms under an ADB-financed programme, a ... Read more