Business

Turnover hits 14-month low Dhaka stocks declined on Thursday with the daily average turnover of the bourse hitting 14-month low as investors were uncomfortable with the newly launched trading system. Turnover of the bourse declined to Tk 136.89 crore on the day compared with that of Tk 421.59 crore in the previous trading session. Thursday’s

The telecom regulator has asked mobile phone operator Robi to stop its promotional campaign Dekhiye Dao Quiz Show, one day before ending the campaign, as the offer violated relevant laws. ‘We asked Robi to stop the quiz show offer yesterday [Wednesday] as it violated the BTRC law. Mobile phone companies are not allowed to offer high-value ... Read more

Planning ministry has decided to increase supervision on project directors of annual development programme in a bid to expedite the implementation of development projects, officials said. Planning minister AHM Mustafa Kamal will hold project supervision meetings with project directors every two months to review the ADP implementation status and provide possible

The Federation of Bangladesh Chambers of Commerce and Industry on Thursday urged the retailers to sell bottled soya bean oil as per the maximum retail price that has been set recently. The FBCCI said that recently the refiners have reduced the price of bottled soya bean oil under a joint move of the commerce ministry and ... Read more

Bangladesh will get $40 million in loan from International Fund for Agricultural Development, a specialised financial institution of the United Nations, to provide 4.52 lakh rural people across the country with financial services and technical trainings. The fund will be spent under a $92.82 million project — Promoting Agricultural Commercialisation and Enterprises — for establishing

Economists on Wednesday suggested that the government should cut the value-added tax rate from the 15 per cent flat rate proposed in the new law to reduce the tax burden on consumers. At a roundtable discussion on the concerns and implementation challenges of new VAT and Supplementary Duty Act-2012, they said that a reduced VAT rate ... Read more

The country’s private sector credit growth in October lagged behind the monetary policy target due to dull business amid political uncertainty. According to the latest BB data released on Tuesday, the private sector credit growth plunged again after three months in October from that of the previous month. The BB data showed that the year-on-year credit growth ... Read more

Bangladesh Bank will ask managing directors of scheduled banks to inform it about voluntary their resignation as the central bank has recently received allegations that board of directors of some banks forced their chief executive officers to resign. A BB official told New Age on Wednesday that the central bank would issue a circular in a ... Read more

The Dhaka Stock Exchange will launch a new trading system, replacing its 16-year old system, today that will allow lot-free share trading at the bourse. ‘As we were facing problems with the old trading system and the Bangladesh Securities and Exchange Commission recommended introducing a new one, the bourse

Hossain Khaled was on Wednesday elected president of the Dhaka Chamber of Commerce and Industry for 2015, said a DCCI press release. The trade body also elected Humayun Rashid as senior vice president and Md Shoaib Chowdhury as vice president for the term, it said. The newly-elected DCCI directors are: Hossain Aktar,

Dhaka stocks finished flat on Wednesday as investors opted to observe the market trend after the launch of a new trading system at the Dhaka Stock Exchange today. The key index of the DSE, DSEX, closed at 4,943.72 points, shedding 0.31 points or 0.01 per cent. Market operators said investors might have decided to go slow

46pc increase in overdue loans poses fresh risk The defaulted loans in the industrial sector skyrocketed by 16.24 per cent in the first quarter of the current financial year 2014-15 compared with the corresponding period of the FY14 due to dull business amid political uncertainty. According to Bangladesh Bank data released on Monday, the defaulted industrial ... Read more

The country’s export earnings in the first five months of the current fiscal year 2014-15 fell short of target by US$ 665.44 million or 5.23 per cent mainly due to either sluggish or negative growth in export of major products, mainly apparel items. Export earnings in the period, however, came out from negative territory which the ... Read more

Bangladesh along with other South Asian countries has moderate level of monetary inequality, according to a World Bank report. The country has ranked third among the countries in the region in terms of level of low inequality. Afghanistan and Pakistan have performed better than Bangladesh while Nepal, India, Sri Lanka, Maldives and Bhutan have achieved lower position, ... Read more

High Court has approved the proposed amalgamation scheme of Keya Cosmetics Limited with its three other associate companies — Keya Cotton Mills Limited, Keya Spinning Mills Limited and Keya Knit Composite Limited, a DSE web site post said on Monday. The single bench of Justice Md Rezaul Hasan approved the amalgamation scheme on Sunday. As per the ... Read more

Govt takes the move to facilitate tea growers to get low-interest bank loans The government has taken an initiative to declare 60 per cent of tea production activities as agricultural activities to facilitate investors in the tea sector to get bank loans at low interest rate for reviving the glory of tea in the export ... Read more

A three-day apparel summit begins today in Dhaka with the aim of improving image of the country’s troubled readymade garment sector globally. The Bangladesh Garment Manufacturers and Exporters Association is organising the summit with the slogan ‘Bangladesh RMG 2021: $50 Billion on 50th Anniversary of Bangladesh,’ at the Bangabandhu International Conference

In an effort to have the delivery of four 787-8 aircraft by February 2020, cash-strapped Biman Bangladesh Airlines looks for a financer for the pre-delivery payment as a term loan for the aircraft, worth $136.280 million. The four 787-8 aircraft, popularly known as Dreamliner, are scheduled to be delivered by October 2019, November 2019, January 2020 ... Read more

Harvest of aman has started in full swing across the country but the prices of rice remained high in the city’s retail and wholesale markets. Traders said that it will take time to reduce the prices of rice as new rice is yet to appear in the market. Consumers, however, expressed dissatisfaction over the high price of ... Read more

The system will facilitate lot-free trading The Dhaka Stock Exchange will launch a new trading system, replacing the old one, on Thursday that will allow lot-free share trading at the bourse with various upgraded data features, DSE officials told New Age on Friday. The premier bourse, following a regulatory order to replace its existing system, on ... Read more