Business

Bangladesh Bank on Monday said that it would announce a capital market- friendly monetary policy for July-December of 2014. The central bank has given importance to the capital market to form its new monetary policy, BB deputy governor SK Sur Chowdhury told reporters after the bankers meeting at the central bank headquarters in the capital. ... Read more

Bangladesh Bank on Monday set farm loan disbursement target for local and foreign banks at Tk 15,550 crore for financial year 2014-15 which is 6.54 per cent higher than that of the recently concluded FY14. The BB set the target in its agriculture and rural credit policy and programmes for the FY15 in which the ... Read more

Subcontracting Rmg Factories Wage, festival allowance before Eid uncertain Uncertainty looms large over the payment of wages and festival allowance of about 8 lakh workers engaged in more than 800 subcontracting factories before Eid-ul-Fitr with factory owners yet to decide on payment. BGMEA leaders claimed that these factories were facing order shortage in the current ‘lean ... Read more

Central bank holds meeting with bankers today Bangladesh Bank will ask the scheduled banks to set a reasonable rate of interest on industrial loans in a bid to increase the inflow of credit in the productive sector, said officials of the central bank. The BB will give the direction at a ‘bankers meeting’ led by its ... Read more

The government is likely to finalise the guidelines for factories involved in subcontracting business in the readymade garment sector tomorrow with a provision of suspension and withdrawal of different facilities and services for exporters and subcontracting factories for violation of the guidelines, officials of the commerce ministry said. They said

The launching of the commercial toll-free number call service in the country is being delayed as the telecom regulator has failed to provide the operators with the numbering plan for the service. According to BTRC officials, a directive which was issued last year for allowing the operators to run the toll-free number service of any private ... Read more

The government is likely to set the export earnings target at $33.20 billion for the current financial year 2014-2015 with a year-on-year growth of 8.85 per cent. The commerce ministry will hold a meeting today with stakeholders to finalise the target at the Export Promotion Bureau in the city.Commerce minister Tofail Ahmed will chair the meeting ... Read more

The Bangladesh Tariff Commission has suggested the government for signing a free trade agreement with Gulf Cooperation Council to raise the country’s export significantly to six Arab nations. Though the BTC identified some problems with the benefits in materialising of the FTA, it recommended the government for going forward with the FTA with

BSEC allows it, subsidiaries to buy or sell directors’ shares without notice Despite having directorship in several listed companies Investment Corporation of Bangladesh is getting the opportunity of trading shares without any declaration for years, creating uneven field in the business, experts said. The ICB and its subsidiaries are shareholder-directors

The state-owned Sonali Bank has urged the government to help realise the outstanding loans of more than Tk 257 crore owed by ministries and their affiliated bodies, officials said. The Sonali in a recent letter informed the ministry of finance that two paper mills, two textile mills, and the ministries of agriculture, shipping and food had ... Read more

A joint Bangladesh-Japan public–private economic dialogue will be held in Dhaka on August 21 to encourage Japanese investment in the potential sectors of the country and deepen the bilateral trade relations, a high official at the Prime Minister’s Office said. The forthcoming dialogue on business, investment and economy is the first of its kind to be ... Read more

Dhaka stocks advanced last week after a decline in the previous week as the institutional investors increased their participation on the trading floor to avail the opportunity of buying cheap shares after the recent downward trend. The key index of Dhaka Stock Exchange, DSEX, finished

Fourteen scheduled banks posted a negative credit growth as of the end of May 2014 on year-on-year basis due to a stagnant situation in the business sector, said officials of Bangladesh Bank. According to the latest BB data, the overall credit growth of the scheduled banks also decreased remarkably against the deposit growth as of May ... Read more

Green chilli price increases for supply shortage The prices of green chilli and broiler increased in the city’s kitchen markets over the week ending Friday due to supply shortage as well as increasing demand. Traders said that the price of green chilli increased as heavy rain fall damaged vegetable fields in the different parts of the ... Read more

Ipo Controversy DSE won’t enlist cos with irregularities Dhaka Stock Exchange board has decided to not to enlist the companies approved by the Bangladesh Securities and Exchange Commission if there are major inconsistencies and violation of rules. The DSE board in a recent meeting made the decision as BSEC’s approval to some companies to raise capital ... Read more

The consumption of textile chemicals in Bangladesh is likely to grow at a compounded annual growth rate of around 7 per cent over the next five years, due to the increasing demand for readymade garments, says a recently published report by TechSci Research, a Canada-based market research and consulting company, reports www.fibre2fashion.com web site.

Bangladesh Telecommunication Regulatory Commission has again declined to pay income tax to the National Board of Revenue claiming that it has no taxable income, officials said. Claiming itself as a non-taxable entity, the telecom regulator on Thursday demanded that the NBR should exempt it from paying taxes and withdraw the provision in

BB claims only six companies are culprit There is no trace of at least 77 companies which borrowed capital amounting to Tk 289 crore from Equity and Entrepreneurship Fund of Bangladesh Bank, a recent survey of Bangladesh Institute of Development Studies (BIDS) revealed. Bangladesh Bank, however, on Thursday contested

Rmg Factory Safety Inspection Production at Hameem Group unit suspended at Tejgaon The government-set review committee on Wednesday asked the authorities of Thats’ It Fashions Ltd, which is housed in a 10-storey building in the Tejgaon area in the capital, to suspend production immediately after the inspection teams of North American retailers’ group had found ... Read more

Bangladesh Bank has asked scheduled banks to deliver wage earners remittances by two working days to the beneficiaries. Currently it takes 72 hours to deliver the remittances. The BB issued a circular to the authorised dealer branches of all banks on Wednesday saying that the central bank had taken the initiative to step up the inflow of ... Read more