Business

BMBA requests BSEC The Bangladesh Merchant Bankers Association has requested the capital market regulator that the investors having loans above Tk 1 crore in merchant banks and brokerage houses should be brought under the reporting of Credit Information Bureau of Bangladesh Bank to facilitate recovery of the margin loans. A BMBA letter sent to the Bangladesh ... Read more

Bangladesh Bank on Sunday, for the first time, awarded 24 non-resident Bangladeshis for their contribution to serving the country with sending remittance and investing in bonds. BB officials said the award was given to acknowledge the contribution of the NRBs to the country’s economic growth through sending remittance and

Md Russel Shahrior has recently joined FAS Finance & Investment Ltd as managing director and chief executive officer. Prior to the appointment, he was the deputy managing director of MIDAS Financing Limited, said a news release. Shahrior served as executive vice-president and head of SME Finance, Green Banking & IT Division at IIDFC for more than eight ... Read more

Turnover hits three-and-half-month low Dhaka stocks declined for the second trading session on Sunday, first trading session of the week, with the turnover at the Dhaka Stock Exchange hitting its three-and-a-half-month low as investors overreacted to a regulatory step against Shahjibazar Power Company Ltd. The key index of the DSE, DSEX, closed at 4,838.11 points,

The auditor of Zeal Bangla Sugar Mills, a state-owned entity listed with the stock market, has expressed doubt over the future of the company due to an accumulated losses amounting to Tk 138.80 crore and due to higher production cost than the selling price of sugar. Malek Siddiqui Wali, the auditor of the company,

Swindling Of TK 30CR From Job Seekers BB asks Prime to file criminal cases against officials involved Bangladesh Bank has asked Prime Bank Ltd to take legal action against the officials of SMG Infocom Ltd and Prime Bank who were involved in swindling of around Tk 30 crore received from 2,500 jobseekers as undertaking. The BB ... Read more

Experts advise LDCs at CPD-FES dialogue Trade experts on Saturday suggested that the least developed countries including Bangladesh should immediately undertake necessary preparation to reap benefits from negotiations on new and emerging trade issues and to bring momentum in the current trade negotiations of the World Trade Organisation. LDCs will face difficulties and fail to reap ... Read more

Bangladesh Bank has sought the finance ministry’s approval for continuation of services of the current two credit rating agencies for three more years to 2017 as the central bank opts for avoiding procurement regulations-related hassles under a fresh appointment process. The BB in a letter sought the approval past week,

The worst type of defaulted loan stands at Tk 42,353cr Bad loans, the worst category of the defaulted loans, in the banking sector increased by 32.68 per cent to Tk 42,352.86 crore in the first nine months of this year due to the scheduled banks’ failure in recovering classified loans amid rising financial corruption. According to ... Read more

DSE to miss Dec target for ETF launch The Bangladesh Securities and Exchange Commission has moved to formulate guidelines on operating index-based exchange traded fund and to scrutinise the Dhaka Stock Exchange’s proposal of launching two index-based ETFs, BSEC sources said. The BSEC’s moves came at a coordination meeting of the commission held on November 19. ... Read more

The prices of edible oil went up in the city’s retail markets over the week ending Friday due to a decreased supply from the refiners. The prices of vegetable, however, decreased on the kitchen markets due to an increased supply of winter vegetables. Traders said that the prices of unpacked soya bean and palm oil increased by ... Read more

Commitments made by the international lenders and development partners to give loans and grants to Bangladesh declined by more than 50 per cent in the first four months of the current fiscal year of 2014-2015, officials of the Economic Relations Division said. Disbursement of foreign loans and grants, however,

The American Federation of Labour and Congress of Industrial Organisations has suggested that the US government should include telecommunication sector in its action plan for Bangladesh for reviving GSP facilities. The AFL-CIO made the suggestion alleging that the employees at Grameenphone, the leading mobile company in Bangladesh, have been struggling for the

Auditor of two companies listed with the Dhaka Stock Exchange — Meghna Condensed Milk and Meghna Pet Industries — has expressed doubt about the future of the companies as their current liabilities exceeded current assets. Ahmed Zaker & Company, the auditor of Meghna Condensed Milk, in its opinion on the Meghna Condensed Milk’s audited financial statements ... Read more

Imported raw rubber from India, Malaysia floods market More than 5,000 tonnes of rubber remained unsold at depots of the state-owned producers as the local market has been flooded with raw rubber imported from neighbouring countries taking advantage of low duty. Bangladesh Forest Industries Development Corporation is facing a tough time to clear the stock, the ... Read more

7th Five-Year Plan Govt needs to give priority to infrastructure: businesses Business leaders on Wednesday demanded that the government should give top priority to improving infrastructure, creating IT-skilled manpower, reducing bank interest rate and diversifying export products and markets in the coming 7th Five-Year Plan. At a view-exchange meeting with the Planning Commission

Power Over IPO Process Body formed to scrutinise bourses’ proposal The Bangladesh Securities and Exchange Commission has formed a three-member committee to review the proposed listing regulations of the Dhaka and Chittagong stock exchanges that sought some power over initial public offering process. BSEC executive director Saifur Rahman told New Age that the commission had formed ... Read more

The share prices of Shahjibazar Power Company Limited fell at last on Wednesday following a regulatory step after a relentless surge except some nominal fall since its debut. The Bangladesh Securities and Exchange Commission on Tuesday sent the shares of SPCL to spot market making them non-marginable in line with the regulator’s

4 Import-Replacing Crops Banks reluctant to disbursing loan to farmers Banks disbursed only 4 per cent loan of their annual target to farmers involved in cultivating four types of import-replacing crops — pulses, oil seeds, spices and maize — in over first four months of the financial year 2014-2015 as they were reluctant to distribute ... Read more

Debutant Khan Brothers’ price rises by 680pc The share price of debutant Khan Brothers PP Woven Bag Industries skyrocketed by 680 per cent on Tuesday intensifying the suspicion of ‘heavy manipulation’ of share prices of newly-listed companies in last few months amid lack of effective regulatory intervention, said investors and experts. Shares of Khan Brothers with ... Read more