Business

Government’s tax collection from the Dhaka Stock Exchange hit two-year high in September as the National Board Revenue collected Tk 24.94 crore from the bourse in the month. September’s tax collection from the Dhaka bourse was the highest after Tk 27.83 crore in September 2012. The government in September 2012 collected Tk 18.76 crore

9-day market closure begins today Bullish trend at the Dhaka bourse sustained for the third trading session on Thursday, the last trading session before a nine-day closure for Eid-ul-Azha, Durga Puja and weekly holidays, as investors remained positive about the market’s upward run. The key index of Dhaka Stock Exchange, DSEX, rose

The country’s trade gap with India recorded its all-time high in the last financial year at $5.57 billion as different non-tariff barriers continued to limit Bangladesh’s exports to the neighbouring country, said economists and experts. The trade deficit between Bangladesh and India increased by 33.76 per cent to $5.57 billion in the FY14 from $4.17 billion ... Read more

Revenue collection by the National Board of Revenue grew by 14.92 per cent in the first two months of the current fiscal year depending on a big boost in August compared with that of the same period of the last fiscal year, according to the data of the National Board of Revenue. In July-August of ... Read more

The Bangladesh Telecommunication Regulatory Commission has approved a proposal of the international gateway operators to form a cartel to control the international call termination business. The cartel, International Gateway Operators Forum or IOF, will consist of all the IGW operators where four politically influential IGWs and three large IGWs will be controlling the internetwork

Hundreds of clients of IFIC Bank suffered as transaction at the bank remained suspended due to technical glitch at the core banking software of the bank on Wednesday, two day before the weekend, Puja and Eid holidays. No clients could withdraw any money through cheque or ATM booths till 6:00pm on Wednesday as the bank’s main ... Read more

The International Monetary Fund has again asked the government to recapitalise the errant state-owned banks despite its observation that decisive steps are needed to improve their overall conditions. Visiting IMF official Rodrigo Cubero in a press statement on Wednesday said the government should recapitalze the SCBs gradually as required despite the fact that unprecedented loan

The net overseas investment at the Dhaka Stock Exchange rose sharply to Tk 426.25 crore in September after slumping in the previous month as improved political and economic indicators boosted the foreign investors’ confidence. The foreign investors in September bought shares worth Tk 589.60 crore against their share sales worth Tk 163.35 crore with the total ... Read more

Dhaka stocks advanced sharply for the second trading session on Wednesday with the key index of Dhaka Stock Exchange, DSEX, making the highest single-day gains in this year as investors were expecting further rise in share prices. The DSEX on the day rose by 1.55 per cent, or 78.96 points, to close at 5,153.26 points on ... Read more

Online classified ad site ‘Ekhanei.com’ has called upon sellers to post ads of sacrificial animals for free on the web site. For the upcoming Eid-ul-Azha the site is getting busier with ads of sacrificial animals, said a news release on Tuesday. More than three ads for cattle and other sacrificial animals are being posted per minute on ... Read more

The number of active mobile users in the country reached to 11.75 crore in August when four out of the country’s six mobile phone operators added new subscribers while the rest two lost users. According to the latest data of Bangladesh Telecommunication Regulatory Commission, leading mobile phone operator Grameenphone added more than 3 lakh new subscribers ... Read more

Better Stories Limited, an ideas agency, on Wednesday became the Bangladesh champion of the Coding Your Opportunity contest organised jointly by the World Bank and Microsoft Ltd in Dhaka. Robotics Association from Nepal was also announced champion of Nepal in the contest. Coding Your Opportunity was held as annual regional grant competition of the WB for the ... Read more

Mercantile Bank Csr BB foils bid to embezzle Tk 2cr by ex-chair Bangladesh Bank has foiled a bid of former Mercantile Bank chairman M Amanullah, now a director of the bank, to ‘embezzle’ around Tk 2 crore from the bank’s corporate social responsibility fund by giving ‘false declaration’ of building a charitable hospital, said BB ... Read more

Bangladesh faces huge trade deficit Informal trade, non-tariff barriers and poor infrastructure are the major reasons behind the low level of intra-Safta trade, revealed in a study by the commerce ministry, pointing to Bangladesh’s huge trade deficit with other members of the trade block. ‘Reasons for the low-level of intra-Safta trade include political disputes (mainly between ... Read more

The country’s mobile phone operators have demanded five years of time for implementing mobile number portability service, which will allow users to change operator without changing the number, despite telecom regulator’s order to introduce the service by January 2014. Bangladesh Telecommunication Regulatory Commission officials

Commerce minister Tofail Ahmed on Tuesday asked traders to set a minimum and reasonable price of rawhide to be collected from sacrificial animals during forthcoming Eid-ul-Azha by October 3 so that people could get a fair price of the product. In a meeting with the traders at commerce ministry conference room the minister said that the ... Read more

The Insurance Development and Regulatory Authority has slapped a penalty of Tk 8 lakh on the Progressive Life Insurance Company and three of its top officials for not appearing before a IDRA hearing violating insurance rules. The regulatory authority made the decision in a meeting presided over by its chairman M Shefaque Ahmed on Sunday, said ... Read more

Dhaka stocks rebounded on Tuesday amid investors’ increased purchasing of bank and non-bank finance entities’ shares. The key index of Dhaka Stock Exchange, DSEX, rose by 0.47 per cent, or 23.96 points, to close at 5,074.30 points on the day. DSEX declined on Monday after the straight nine-trading session rise. Turnover of the bourse declined to Tk 879.76 ... Read more

150pc Decline In Portfolio Value BSEC allows trading for another 6 months The Bangladesh Securities and Exchange Commission for the second time has extended the suspension period over the rule 3(5) of the Margin Rules-1999 by another six months in a bid to allow investors with margin loans to trade shares despite 150-per cent decline ... Read more

The Hongkong and Shanghai Banking Corporation Limited has announced the appointment of Francois de Maricourt as the new chief executive officer of its Bangladesh operations, with effect from October 1, 2014 (subject to regulatory approval), said a news release. Francois joined the HSBC Group in 1994 and has since