Business

At least six people including a policeman were killed and seven others injured in separate road accidents in Bogra, Barisal and Narsingdi on Friday. Heavy vehicles hit lighter vehicles in every incident that left three people dead in Bogra while one was killed in Barisal and two in Narsingdi. Our correspondent in Barisal reported that a ... Read more

Scheduled banks and non-bank financial institutions continued to ignore rural entrepreneurs in disbursing small and medium enterprise loans as they distributed to them (rural entrepreneurs) only 24.17 per cent of the total SME loans they sanctioned in the first nine months of this year. According to the latest Bangladesh Bank data, the banks and NBFIs disbursed ... Read more

The special tribunal to deal with stock market-related cases is yet to start functioning even after ten months of appointment of a judge for the tribunal. The government in February this year appointed Humayun Kabir Manik as judge to the tribunal. The government on December 10, 2012, amended the Securities and Exchange Ordinance 1969, making provisions for ... Read more

The prices of egg and unpacked soya bean oil went high in the city’s kitchen markets over the week ending Friday due to a supply shortage, traders said. The prices of unpacked soya bean oil increased by Tk 4 a litre and the item was being sold at Tk 92 a litre in the city’s ... Read more

The government is weighing different options to mobilise nearly Tk 3,000 crore soon as Bangladesh economic zones authority sought the fund for land acquisition required to build four special economic zones in the country for local and foreign investment. The BEZA early this month sought the amount from the

The country’s foreign exchange reserves posted a new record of US$ 22.40 billion for the first time on Thursday due to upward trend in inward remittance and buoyed by the release of funds from development partners, said Bangladesh Bank officials. The foreign exchange reserves stood at US$ 22.40 billion on Thursday from US$ 22.33 billion on ... Read more

Non-Payment Of Tk 24cr Citycell denies it violated conditions Mobile phone operator Citycell has denied any violation of conditions to pay Tk 246 crore dues on account of breach in licensing conditions. Citycell came up with the denial plea in reply to a notice of the telecom regulator asking the mobile operators to pay Tk 246 ... Read more

B’desh Sanchayapatra NBR nod must for investment of corporate gratuity fund Bangladesh Bank has asked scheduled banks not to invest in the five-year Bangladesh Sanchayapatra the gratuity fund of corporate bodies without taking approval from tax commissioners in line with the government directives. The BB issued a circular to managing directors of all banks and executive ... Read more

The Bangladesh Securities and Exchange Commission on Thursday formed an inquiry committee to investigate alleged illegal activities done by Md Zahidul Haque, managing director of Shurwid Industries Limited, a newly-listed company at the capital market, a BSEC news release said. The two-member committee has been asked to submit its report within 10 working days,

Bangladesh Bank on Thursday asked scheduled banks to set up closed-circuit television cameras at their all types of information technology-related rooms to ensure adequate security, said officials of the central bank. The BB issued a circular to managing directors and chief executive officers of all banks asking them to ensure implementation of the directive under the ... Read more

Dhaka stocks ended a five-day losing streak on Thursday after the Dhaka Stock Exchange Wednesday evening had scrapped howla charge, charge per trade, to reduce investors’ trading cost that rose since the introduction of the lot-free trading system at the bourse on December 11. The DSE key index, DSEX, closed at 4,856.41 points,

Retures Submission By Nov Deadline Income tax collection drops by Tk 200cr Collection of income tax paid through the tax returns dropped surprisingly by more than Tk 200 crore within the NBR-set deadline in the current fiscal year of 2014-2015 compared with that of last year, according to the data of the National Board of ... Read more

The bank and financial institutions division has imposed restriction on sanctioning and disbursing new commercial and trade loans by the two state-owned specialised agriculture banks, officials said. The banks are Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank. Bank and financial institutions division secretary M Aslam Alam

The active mobile phone users of the country reached to near 12 crore in November as the six mobile operators added more than seven lakh new subscribers in the month. The latest data of Bangladesh Telecommunication Regulatory Commission showed that the total mobile users reached to 11.96 crore in November when Citycell lost

India ban on coal mining hits brick production, price The National Board of Revenue on Monday reduced duties and taxes on coal import by 50 per cent to facilitate the brick manufacturing industry in the country amid an Indian ban on coal mining in Meghalaya, the main source of Bangladesh’s coal import for the sector, ... Read more

Bangladesh Bank on Monday asked scheduled banks to reduce their defaulted loans to 10 per cent of their total outstanding loans by December 31, 2014 from the existing 11.60 per cent even by writing-off bad loans if required. The BB gave the direction at a quarterly bankers’ meeting presided over by its governor Atiur Rahman at ... Read more

The Economic Relations Division on Monday signed a €60 million loan agreement with the German Development Bank or kfW to improve the western power grid system. The kfW, which represents the German government, would provide €45 million in loan at 2.5 per cent interest and €15 million in grant, officials said. The contract was

Bangladesh Bank has taken initiative to settle the overdue inland bills against letters of credit by deducting fund from the indebted banks’ current accounts maintained with the central bank. The central bank’s direction came at an executive management team meeting held on December 7 with BB governor Atiur Rahman in the chair. BB deputy governors and senior ... Read more

Only 21pc implemented in five months The government will follow a ‘different manner’ in implementing the annual development programme from next fiscal year as traditional ways have been facing some problems resulting in delay in execution of development projects, planning minister AHM Mustafa Kamal said on Sunday. At a press briefing organised at the ministry ... Read more

The finance ministry has released Tk 284.76 crore for subscribing rights shares of the Investment Corporation of Bangladesh, a state-owned entity listed with the capital market. The Finance Division of the ministry on December 10 released the fund after the Bangladesh Securities and Exchange Commission on August 12 this year had allowed