Business

Overall banking sector defaulted loans rise by 16708cr in Jan-Sept The scam-hit BASIC Bank topped the list of banks that accumulated highest defaulted loans of in the first nine months of 2014 as the overall defaulted loan in the banking sector soared by Tk 16,707.88 crore during the period. According to the Bangladesh Bank data released ... Read more

The latest move taken by the market regulator has also failed to stop the unprecedented rise in the share prices of Shahjibazar Power Company with the company’s share prices reaching the single-day maximum limit in the last three trading sessions. According to the data of Dhaka Stock Exchange, SPCL shares closed at Tk 286.60 on Sunday, ... Read more

Dhaka stocks declined on Sunday as investors went for selling their holdings to buy a handful of shares. Due to the investors’ move, three top traded shares — DESCO, Jamuna Oil, and Western Marine Shipyard — held significant amount of the day’s turnover. The benchmark index of Dhaka Stock Exchange,

The International Fund for Agricultural Development on Sunday in collaboration with INAFI Bangladesh and PROCASUR Corporation organised a follow-up workshop on ‘Learning Route’ to fine tune the action plans of development projects. A news release of IFAD, a specialised body of United Nations, and International Network of Alternative Financial Institutions on the

Centre for Policy Dialogue chairman Rehman Sobhan on Sunday emphasised on raising concerns and awareness on Bangladesh’s status and progress as regards the Millennium Development Goals and the Post-2015 International Development Agenda that follows the MDGs. Sobhan, also an eminent economist, was addressing

DuPont president (south Asia and ASEAN) Balvinder Singh Kalsi is in Dhaka on a three-day official visit starting today, said a news release. DuPont is focused on growth on the emerging markets and Balvinder’s visit marks company’s efforts for strengthening presence in Bangladesh, it said. During his visit, Balvinder will meet business leaders, partners, customers and

Commerce minister Tofail Ahmed on Saturday said the global retailers’ groups — Accord and Alliance — were responsible for the negative growth in the country’s export earnings in the last couple of months of the current financial year. ‘Industrial accidents occur in many countries in the world but there are no operations of Accord on Fire ... Read more

The Federation of Bangladesh Chambers of Commerce and Industry has demanded that the National Board of Revenue should amend the existing National Tax Card Policy-2010, claiming that many of the actual and the highest taxpayers were deprived of recognition because of limitations of the policy. FBCCI, the apex trade body of the country, made a proposal ... Read more

Economists, researchers urge govt at a seminar Economists and researchers on Saturday said that the government should regularly generate updated, reliable and accurate economic data for making effective policy decisions. There is lack of consistent and updated data as well as quality research on various economic issues in the country, they said at a seminar ... Read more

IGW Revenue Share Cut Ministry questions BTRC’s temporary amendment process The telecommunications ministry has asked the Bangladesh Telecommunication Regulatory Commission to explain the procedure for temporary amendment to its licensing guidelines after the regulator proposed a change to the IGW guidelines to legalise lower revenue sharing. The ministry in a letter last week also suggested ... Read more

A three-day Business Week, organised by BRAC University Business Club, starts in the capital today aiming to develop corporate skill of students. The event will take place on the BRC University campus where a job fair and a seminar on youth employment will be held for the students in the first two days. BRAC University Business Club ... Read more

The price of imported garlic increased in the city’s kitchen markets over the week ending Friday due to a rise in demand for the commodity. Traders said the demand for the item increased as an off-seasonal shortage made the local garlic scarce on the city markets. They said that the price of imported garlic would remain ... Read more

Most of the mutual funds listed with the capital market performed better in the July-September period of this year compared with the same period of the previous year amid tightened regulatory supervision and improved market situation. Out of the 41 mutual funds listed with the capital market, 28 mutual funds have so far declared their quarterly ... Read more

The EU retailers’ group announces remediation guidelines Garment factory owners will have to take approval for designs of fire alarm, sprinkler system and auto-hydrant from Accord on Fire and Building Safety, a platform of EU retailers, before installing the systems in their factories, according to the remediation guidelines announced by Accord on Wednesday. ‘If the installation ... Read more

Overall point-to-point inflation dropped to a 23-month low to 6.60 per cent in October because of comparatively moderate rise in food prices, according to the data of the Bangladesh Bureau of Statistics. In November 2012, the point-to-point inflation rate was 6.55 per cent but the rate soared to 8.37 per cent in April 2013 before coming ... Read more

The Bangladesh Securities and Exchange Commission on Thursday asked all the listed companies to hold their annual general meetings within the city of their registered offices in a bid to make it convenient for the shareholders to attend the meetings. The capital market regulator issued an order in this regard as many of the listed companies ... Read more

The private sector credit growth inched up in September from that of the previous month as the country’s import payment increased significantly in the first quarter of this financial year. According to the latest Bangladesh Bank data released this week, the year-on-year credit growth rate in the private sector rose to 12.15 per cent in September ... Read more

The small entrepreneurs demanded collateral free loan facility and grace period for repayment through the SME banking window at a discussion meeting held in the capital on Thursday. The SME Foundation organised the discussion meeting at the SME fair jointly staged by the SMEF and the Bangladesh Bank. Entrepreneurs alleged that banks do not provide loans to

Dhaka stocks declined on Thursday, last trading session of the week, after a two-day rise due to a decreased participation of institutional investors. The key index of Dhaka Stock Exchange, DSEX, finished at 4,984.46 points, shedding 0.42 per cent or 21.19 points. The market on Thursday started positive with

Country’s trade deficit increased by 88.95 per cent to $2.39 billion in the first quarter of this financial year compared with that of $1.26 billion during the same period of the FY 2013-14 due to higher import growth against lower export growth. The deficit had posted a negative growth of 37.37 per cent in the July-September ... Read more