Business

Loan From Islamic Banks Govt to issue Islamic bonds The government has revised its Islamic Investment Bonds Regulations, 2004 to allow itself to borrow from the Shariah-based banks and non-bank financial institutions by floating Islamic investment bonds. The government will borrow from the Shariah-based banks and NBFIs to implement its Shariah approved projects. The regulations were revised

Activists of the Chittagong University unit of Islami Chhatra Shibir on Monday attacked the university-bound shuttle-train, at two railway stations, with crude bombs. At least six students sustained injuries during the attack. Two of the students received primary treatment from the university’s medical centre.

The operations of state-owned Ruposhi Bangla Hotel were shut down on Monday for a 16-month renovation work after which the hotel will reopen and run as Intercontinental Dhaka. The historical hotel, which Intercontinental Hotel Group earlier had run from 1966 to 1983, was announced closed on Monday noon. ‘We had 42 guests last night and all of ... Read more

The net overseas investment at the Dhaka Stock Exchange declined to a 31-month low at Tk 12.45 crore in August due to increased share sales by foreign investors to make short-term profit. August figure was the lowest since January, 2012 when foreign investors’ net investment at the bourse was Tk 5.02 crore. In August, overseas investors bought ... Read more

The Alliance, a platform of North American retailers’ group, has termed the European retailers’ group’s announcement of rejecting inspection in common factories by individual retailers in Alliance as ‘a setback for garment factory safety efforts in Bangladesh’. Allen Tauscher, the chair of the Alliance for

Scheduled banks further cut rate of interest on their deposit products in July due to an increasing trend in excess liquidity in the banking sector, according to the latest Bangladesh Bank data. The BB data showed the weighted average interest rate on the deposit in the banking sector declined to 7.71 percentage points in July from ... Read more

Apple Inc plans to enable its next iPhone to become a mobile wallet by allowing owners to securely make mobile payments in a store with the touch of a finger, Bloomberg said on Sunday, citing a person familiar with the situation, reports Reuters. The agreement includes participation by Visa Inc,

Bangladesh Jute Mills Corporation on Monday claimed that it could not purchase raw jute due to fund crisis though the season of purchasing jute is running out. At a view-exchange meeting with journalists, BJMC chairman Humayun Khaled said that they were not getting funds despite repeated requests made to the

Bangladesh becomes ITPEC member The inclusion of Bangladesh in the Japan-based Information Technology Professional Examination Council, a regulatory body for ICT engineers’ examinations, will help local engineers gain exposure on the international market, said Japanese officials in Dhaka on Monday. The Bangladesh Computer Council and the Information

Dhaka stocks finished flat on Monday after a two-day fall. The key index of Dhaka Stock Exchange, DSEX, closed at 4,554.97 points, adding 0.11 per cent or 5.45 points. Turnover at the bourse increased slightly to Tk 501.46 crore on Monday from Tk 494.06 crore in the previous trading session. The market started positive

Four state-owned commercial banks recovered only Tk 212 crore, or 34.02 per cent, from their top 20 loan defaulters in the first six months of 2014 against the annual target of Tk 623 crore, the latest Bangladesh Bank data showed. The four banks – Sonali, Janata, Agrani and Rupali — fell way short of achieving their ... Read more

Dhaka and Ankara last week concluded their exploratory mission with positive note to strike an FTA between the two countries to boost trade and investment, a senior trade official at the commerce ministry said on Sunday. The meeting held in the Turkish capital from August 26 to 28 finalised a draft terms of reference that outlines ... Read more

The government is yet to amend the Bank Deposit Insurance Act 2000 to bring non-bank financial institutions under the deposit insurance scheme although Bangladesh Bank took the initiative three years ago, said officials of the central bank. The BB took the initiative to amend the act in 2011 to

Non-Listed Co Shares Rules eased for repatriation of sales proceeds by foreigners Bangladesh Bank on Sunday relaxed the guidelines for foreigners for repatriating their equity investments in non-listed and private limited companies in Bangladesh after selling the shares. The BB issued the guidelines and a circular to authorised dealer branches of all scheduled banks in this ... Read more

Internet Safety Solution BTRC to float tender for third time The Bangladesh Telecommunication Regulatory Commission has decided to float fresh tender for the third time for internet safety solution as the Central Procurement Technical Unit, a government body for public procurement, raised objection about the ongoing process, said officials concerned. CPTU officials said the BTRC violated ... Read more

Dhaka stocks declined for the second trading session on Sunday with remarkable decline in turnover as investors opted for wait-and-see move regarding the political situation to take fresh investment move. The key index of the Dhaka Stock Exchange, DSEX, declined to 4,549.51 points, shedding 0.62 per cent or 28.47 points on the day. Turnover of the

Mobile phone operator Robi Axiata Limited has signed an agreement with Bikroy.com that will allow all subscribers free browsing on the online site from today. Bikroy.com has a selection of popular second hand items all over Bangladesh. On the web site one can buy and sell almost everything and make deals.

Embezzlement Of Tk 30cr BB asks Prime Bank to refund 2,500 jobseekers by Sept 30 Bangladesh Bank has again asked Prime Bank to refund the undertaking money its mobile banking service solution provider SMG Infocom Ltd collected from 2,500 jobseekers by September 30 this year as ‘the bank cannot avoid the responsibility for the fraudulent ... Read more

The Bangladesh Telecommunication Regulatory Commission has allowed paying utility bills from abroad through mobile balance recharge, said a BTRC directive. The telecom regulator last week issued a fresh no objection certificate in favour of the international payment and recharge service operators where it said

Embezzlement Of Tk 30cr BB asks Prime Bank to refund 2,500 jobseekers by Sept 30 Bangladesh Bank has again asked Prime Bank to refund the undertaking money its mobile banking service solution provider SMG Infocom Ltd collected from 2,500 jobseekers by September 30 this year as ‘the bank cannot avoid the responsibility for the fraudulent ... Read more