Business

BEF Conference Political influence, govt policies affect quality of education Politicisation of school management, government’s shift of focus to other sectors and formulation of policies without preparation are affecting the quality of education and country’s human development, said education experts and economists at a seminar on Sunday observed. The seminar titled Human Development Strategies and

Finance minister AMA Muhith has finally asked the banks and financial institutions division to come up with proposals aimed at plugging the loopholes in unprecedented swindling of funds from the state-owned banks, officials said. He gave the directive during a meeting on Sunday afternoon with the secretaries under his ministry. All four secretaries except

The shareholders of Golden Son at an extraordinary general meeting has rejected proposed rights offer of the listed company due to high premium. The shareholders of the company has disapproved the rights offer as they did not want to pay the premium proposed by the company’s board of directors at the present market condition, sources present ... Read more

Low manufacturing, pvt investment growth affecting economy: Muhith Economists on Saturday underscored ensuring political stability and rule of law and improving connectivity and skill for attaining sustainable economic growth at higher rate in the country. At different sessions of a seminar ‘Vision 2030: a framework for economic policy making and strategy formulation in a pluralistic democracy’, ... Read more

Capital Market Scammers’ punishment can restore confidence of investors: economists Ensuring punishment for the people involved in capital market scam can restore confidence of investors which is essential to bring back the country’s stock market on right track, economists said on Saturday. At a session of a seminar on ‘Vision 2030: a framework for economic policy ... Read more

Tackling Scams Muhith plans to redesign banking, financial policies Finance minister AMA Muhith, in the face of mounting pressures to cleanse the tainted state-controlled banks, might seek to redesign policies to better govern the poorly-run financial system. The minister, apparently perturbed by a number of infamous loan scams, the latest being the banking fraud of around ... Read more

The Bangladesh Securities and Exchange Commission has waived some conditions of the corporate governance guidelines for the Investment Corporation of Bangladesh virtually making the independent directors in the state-owned financial institution ineffective. The waiver has drawn criticism from the stock market

Dhaka stocks declined last week in volatile trading with a significant decline in turnover as investors were demoralised following remarks made by the government high-ups in the previous week. The key index of Dhaka Stock Exchange, DSEX, finished at 4,328.4 points, shedding 2.82 per cent or 80.40 points. Daily average turnover of the bourse dropped to

Cancellations of the import-related letters of credit increased to $909.85 million in the first 10 months of the current financial year 2013-14 from $886.78 million in the corresponding period of the FY13. A BB official told New Age on Thursday that disagreement between importers and exporters and dull business situation in the country amid political unrest

Most of the merchant banks made profit last year after remaining in losing state since the market crash in 2010-11 despite the sluggish market trend, a BSEC report showed. Of the 38 merchant banks operating their own portfolio investment in the capital market, 27 made Tk 211.72-crore profits in 2013 and seven others

The prices of most of the essential commodities remained high in the capital’s retail markets over the week ending Friday. The prices of most of the commodities are unlikely to come down ahead of the fasting month of Ramadan, traders said. According to the traders, the prices of most of the vegetables

Though Thailand’s coup has been relatively calm and largely successful in terms of maintaining social order, it’s had a profoundly harmful effect on the country’s lucrative rice-export industry, reports ibtimes.com web site. The Thailand Rice Exporters Association announced Wednesday that severe worker shortages would cause delays in rice export

A five-day international exhibition of branded clothing and fashion products will begin on June 25 at Emmanuell’s Banquet Hall at Gulshan-1 in the city. Over 50 companies from home and abroad are participating in this exhibition titled ‘Bangladesh Fashion Carnival-2014’, second of its kind. Freelancerz & Redcarpet Ltd,

The government’s development expenditure in the first 11 months of the current fiscal year experienced a record low at 67 per cent, the lowest in last five years, despite an expenditure spree in May, planning ministry officials said. The sluggish trend in implementation of the annual development programme in July-May has put the possibility of full

Failure To Display Price Chart Traders warned of licence cancellation The commerce ministry on Wednesday asked traders to display the price list of products in front of the shop and warned that if any traders failed to do so they would lose their trade license. In a meeting with the traders on prices and supply of ... Read more

Holders of traditional 10-digit taxpayers’ identification number will face more hassle as their income tax returns will fall under mandatory audit system, officials of the National Board of Revenue said. They would also be denied around 30 services including registration and fitness renewal of car, opening letters of credit, getting loans and credit cards, ISD

Imports posted a 20.21-per cent growth in May this year compared with that of 4.48 per cent negative growth in the same month last year due to a rise in payment of bills for food products imported to meet demand for the items in the upcoming Ramadan. According to the Bangladesh Bank data released on

The Bangladesh Securities and Exchange Commission has warned Swapan Kumar Bala, managing director of the Dhaka Stock Exchange, for not adopting cautious approach in giving his opinion on transfer of units of two mutual funds. Trust Bank Investment Limited in December last year

Lafarge Surma Cement, which recently declared interim dividend, will remain at the junk Z category until it declares and disburses final dividend after the end of the year 2014, an official of the Dhaka Stock Exchange told New Age on Thursday. He said that the Bangladesh Securities and Exchange

The parliamentary standing committee on Ministry of Posts, Telecommunications and Information Technology Thursday discussed the issue of withdrawal of VAT on mobile phone handset import. The parliamentary body has suggested the ministry to take necessary measure after consulting with the finance minister. The finance minister in the proposed