Business

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

The income of the country’s real estate sector rose by 13 per cent to Tk 15,608 crore in the financial year 2010-2011 from that of Tk 13,820 crore a year ago, according to a survey of the Bangladesh Bureau of Statistics. The main source of income of the companies was construction of buildings and flats followed ... Read more

The Bangladesh Securities and Exchange Commission on Tuesday sent the shares of Shahjibazar Power Company to spot market making them non-marginable in line with the regulator’s move to contain abnormal price hike. The capital market regulator took the decision at an emergency meeting, led by BSEC chairman M Khairul Hossain, after its previous actions failed to

Dhaka stocks declined for the fourth trading session on Tuesday due to investors’ focus on newly-listed companies amid some panic-driven share sell-offs, market operators said. The key index of Dhaka Stock Exchange, DSEX, declined to 4,898.82 points, shedding 0.37 per cent or 18.60 points. As the investors mostly focused on the

Bangladesh Bank on Tuesday reduced the rate of provisioning against unclassified agriculture loan and micro-credit to 2.50 per cent from existing 5 per cent for scheduled banks to encourage banks’ participation in disbursing more agriculture loans and micro-credits. The BB issued a circular to managing director

Titan Company Ltd managing director Bhaskar Bhat has arrived in Dhaka to attend the re-launching of World of Titan at the Bashundara City Shopping Mall in the capital today, said a news release. Kallol Group Of Companies managing director Ghulam Mostafa along with other higher officials will accompany Bhaskar. They will also visit a number of TIME ... Read more

The country’s 1.50 crore households, out of 3.37 crore, employ 1.60 crore paid workers, according to a survey of Bangladesh Bureau of Statistics. The paid workers include house tutors, maids, gardeners, gatekeepers, caretakers, cooks and drivers. Of them, 1.09 crore are employed in rural areas while 51 lakh in urban areas, according to the findings. There were 1,697

Review committee suspends production at Fashion Linkers on BUET suggestion The government is going to take legal action against the subcontracting garment factories which have not taken registration from the Department of Inspection for Factories and Establishments. ‘As part of the move, we have served notices today on three garment factories –– DK Apparels, J Alam ... Read more

The Bangladesh Securities and Exchange Commission has asked Central Depository Bangladesh Limited to visit depository participants every month to monitor compliance of the entities, said a DSE web post on Monday. The capital market regulator in its directive said, ‘The BSEC has decided that CDBL will visit the depository participants every month to monitor whether the ... Read more

Bangladesh Bank on Monday asked scheduled banks to install closed-circuit television cameras inside and outside of their branches to ensure proper security. The BB issued a circular to managing directors and chief executive officers of all banks asking them to set up required number of CCTV camera, internet protocol

BBS Survey Country attracted 8.92 lakh int’l tourists in FY12 The country attracted 8.92 lakh international tourists including foreigners and non-resident Bangladeshis in the fiscal year of 2011-2012 while 14.59 lakh people went abroad for tourism purpose, according to a survey conducted by the Bangladesh Bureau of Statistics. In the same year, more than 42 ... Read more

3-day US trade show begins in city Without duty- and quota-free access to the US market the TICFA agreement will be meaningless, said commerce minister Tofail Ahmed on Monday. He said that to become a middle-income country it was important to restore GSP facility in the US market. ‘Despite signing the TICFA our products are not getting ... Read more