Business

The Bangladesh Telecommunication Regulatory Commission has initiated a move to launch its own mobile application for better communication with public, said officials concerned. According to BTRC officials, the application will contain most of the feature of the current web site of BTRC. ‘It will also have separate complain option which will enable the mobile

Dhaka stocks advanced on Monday, after declining in previous three trading sessions, as investors turned their attention to shares of banks and non-bank financial institutions and other large capitalised companies. The key index of the Dhaka Stock Exchange, DSEX, increased at 4,564.34 points, adding 0.52 per cent or 23.74 points. Investors increased attention

Sixteen scheduled banks on Monday signed participant agreement with Bangladesh Bank to join the refinancing scheme of the central bank worth Tk 200 crore to inject necessary credit into the jute sector. Jute sector entrepreneurs will be able to receive loans from the refinance fund at the interest rate of 9 per cent. The banks made the ... Read more

Hallmark Scam Accused bank official found dead in prison cell Former manager of Sonali Bank’s Ruposhi Bangla Hotel Branch, AKM Azizur Rahman, was found dead at Bangabandhu Sheikh Mujib Medical College Hospital’s prison cell Sunday night. Dhaka Central Jail senior Superintendent Forman Ali told New Age that Azizur was undergoing treatment there for over a month. Azizur ... Read more

Indian minister claims Bangladesh exporters fail to understand their market Business leaders and experts on Sunday demanded that India should remove non-tariff and para-tariff barriers to help Bangladesh in increasing exports to the country to reduce the trade gap between the two neighbours. At the Bangladesh-India business conclave jointly organised by Indian Chamber of Commerce and ... Read more

The government is expected to announce a raft of policy measures soon to boost the local tourism industry keeping provisions of fiscal stimulus and exclusive zones to attract holiday-makers. The finance ministry is now busy preparing a draft package facility on tourism that would involve developing infrastructure in Cox’s Bazar and the districts in Chittagong

Operators demand tax relaxation, policy revision The consumers have no trust on mobile operators as they do not the get the required support from operators, said Bangladesh Telecommunication Regulatory Commission chairman Sunitl Kanti Bose. At a daylong workshop, organised by global association of telecom operators GSMA in cooperation with Association of Mobile Telecom Operators of Bangladesh,

Banks must keep more capital against RWA Bangladesh Bank has formulated draft guidelines on risk-based capital adequacy ratio in a bid to implement Basel-III from the next year by raising scheduled banks’ capital bases. Banks will have to implement the new guidelines on capital arrangement in five years. Under the guidelines, banks will have to ... Read more

Bangladesh Bank on Sunday relaxed settlement policy of foreign letters of credit for the importers of unrefined edible oil, oil seeds, crude sugar and unground wheat. The BB issued a circular to the authorised dealer branches of all scheduled banks saying that refiners and millers will not have to settle payment against foreign

Dhaka stocks finished negative for the third trading session on Sunday as investors sold off shares, mostly small capitalised companies’ shares. Market operators said buying of shares of some large capitalised companies by a section of investors, however, saved the market from a significant fall.

Share prices of two companies — BEXIMCO and BSRM Steels — have continued to increase abnormally in recent times despite the fall in profits of the companies in January-June period. Following queries from the Dhaka Stock Exchange regarding unusual price hike, the companies on Sunday separately informed the bourse that there were no undisclosed price

Officials blame lack of equipment, manpower The country’s telecom regulator is yet to start drive outside Dhaka for collecting mobile phone operators’ service quality information after nine months of issuing directive in this regard, said BTRC officials. The Bangladesh Telecommunication Regulatory Commission officials said the regulator was only conducting test drive in Dhaka and its

Dhaka and Ankara will hold exclusive talks in the Turkish capital on Tuesday on a draft of a bilateral Free Trade Area agreement to be signed by the two countries, prepared by the commerce ministry in Bangladesh. A five-member delegation, headed by additional secretary of the commerce ministry, Monoj Kumar Roy, will visit Ankara from August ... Read more

The National Board of Revenue has widened the scope of amortisation benefit on different fees for mobile phone operators, according to a circular issued by the NBR. The revenue board on Thursday issued the circular in line with the amendment of the Income Tax Ordinance-1984 as part of the budgetary measures for the

Rules Under Labour Act Government misses 3rd deadline for finalisation The government has again failed to finalise rules under the labour act by the time it promised as the third deadline ended on July 31. Labour ministry officials said now they were working on the draft targeting the month of September. A source involved with the ... Read more

Bad loans, the worst category of defaulted loans, in the banking sector increased by 23.47 per cent to Tk 39,413.53 crore in the first six months of this year due to scheduled banks’ failure in recovering classified loans amid dull business. According to the latest Bangladesh Bank data,

The prices of vegetables increased on the retail market in the city over the week ending Friday flash flood in different parts of the country caused supply shortage. Traders said due to heavy rainfall of last couple of days many vegetables fields went under water in the different districts, causing the shortage of the items.

As many as 1,222 faintings and three deaths were reported in garment factories in Cambodia’s key industrial zones so far this year, surpassing those reported throughout 2013, a local trade union said Thursday, accusing the plants of flouting laws that protect working conditions, reports Radio Free Asia. The faintings between January and August were much

The Dhaka Stock Exchange has set fresh timeframe to introduce its new automated trading system by extending the deadline by another two months as the bourse finds it difficult to finish the task by October this year on some technical grounds. ‘The timeframe to introduce the new automated trading

The labour ministry has taken an initiative to look into the closure notice of Tuba Group factories under Section 13(1) of the Bangladesh Labour Act to see whether the Section is applicable for the factories. The Section stipulated that ‘the employer may, in the event of an illegal strike by any section or department of any ... Read more