Business

Insurance Development and Regulatory Authority has scrapped the appointment of Syed Tanvir Alam as the chief executive officer of Progressive Life Insurance Company for hiding experience-related information. As per the insurance rules, any person needs to have at least 15 years of experience in the related field including three years experience as the second highest

The country’s export earnings in the first 11 months of the current fiscal year 2013-14 stood at $27.37 billion, 0.21 per cent short of the target due to a weak earning growth in May, showed the data released by Export Promotion Bureau on Sunday. Despite setbacks in jute exports, the readymade garments

Dhaka stocks declined significantly on Sunday, first trading session of the week, following demoralising comments made by the finance ministry high-ups on the capital market and stock investors on Thursday, market operators said. The key index of Dhaka Stock Exchange, DSEX, finished at 4,361.58 points, shedding 1.07 per cent or 47.21 points. Finance

Ramadan Item Import Banks asked to assist importers in opening LCs Bangladesh Bank on Sunday asked the scheduled banks to extend their cooperation to the importers of essential commodities so that they (importers) can open easily letters of credit against such items to meet demand for the commodities in the upcoming Ramadan. The BB issued a ... Read more

But 12 banks release below 70pc of targets Farm loan disbursement posted an 8.66-per cent growth in 11 months of the current financial year 2013-14 compared with that in the same period of the FY13 although 12 scheduled banks disbursed below 70 per cent of their loan targets to farmers in the period. According to ... Read more

Exchange Traded Funds DSE holds meeting with AMCs over rules formulation Officials of the Dhaka Stock Exchange on Sunday held a meeting with some asset management companies to discuss the formulation of draft rules for launching index-based exchange traded funds, DSE officials said. As part of the bourse’s business plan approved by the Bangladesh Securities and ... Read more

Proposed Budget For Fy 2014-2015 Policymakers, economic experts continue with differing views A number of government policymakers and economic experts on Saturday expressed divided opinions about the new budgetary proposals during a post-budget dialogue in the city. The government policymakers led by planning minister AHM Mustafa Kamal and state-minister for finance and planning Abdul Mannan praised ... Read more

The prices of most of the essential commodities including vegetables, beef, broiler, gram, and puffed rice went up in the capital’s retail markets ahead of Ramadan, fasting month for Muslims. Traders said that the prices of vegetables increased due to a supply shortage and the prices of other commodities rose due to increased demand. The prices of ... Read more

The government-set review panel on the readymade garment factory inspection has started functioning again after about one month of lull as the experts of global retailers’ groups and Bangladesh University of Engineering and Technology have given assurance that they would reduce their differences over safety assessment parameters. Sources

BTRC extends time until June 30 Fourteen International Gateway operators failed to pay the annual license fees in the current year within the stipulated time which caused the government to lose Tk 70 crore in revenue, said officials. Bangladesh Telecommunication Regulatory Commission officials said the commission on Monday decided to give the IGW operators a deadline ... Read more

Dhaka stock gained marginally last week, the first week after the finance minister placed before parliament the proposed budget for the fiscal year 2014-15, amid volatile trading as investors were sceptical whether the government would withdrew the proposed gain tax on individual investors or approve it. The key index of Dhaka Stock Exchange, DSEX, finished

Bangladesh Bank has started investigation to unearth money laundering by local businesspeople through import of sea fish from the countries of Middle East, said officials of the central bank. The BB has taken the initiative in line with the commerce ministry directives, they said. The commerce ministry sent a letter to the BB on June ... Read more

Muhith says many share market investors are ‘touts’ Bangladesh is risking of re-inclusion in the grey list by the Paris-based Financial Action Task Force because of monitoring lapse by the share market operators to check shady transactions and money laundering. Bank and financial institution secretary M Aslam Alam on Thursday expressed the concern during a ... Read more

Bangladesh is allowing India to ferry foodgrain to the landlocked north-eastern states using its territory and infrastructure in a highly significant move that was evidently cleared at the highest level, reports Zee News. ‘To begin with, the Bangladesh government has under a special transit facility agreed to transport 10,000 tonnes of foodgrain for

Commerce minister Tofail Ahmed urged the US to consider duty-free and quota-free market access of Bangladeshi apparels to US market as the initiative can further boost the ongoing progress of the RMG industry that has employed more than 3 million women in the sector. The commerce minister made this appeal while

Bangladesh Bank governor Atiur Rahman on Thursday said the proposed national budget should have been more ‘ambitious’ to achieve the government’s various targets by 2030. The BB governor made the remark while addressing a seminar on ‘National Budget 2014-2015: Challenges for Implementation’ organised by United International

Dhaka stocks remained static on Thursday amid volatile trading as investors opted to take their next investment move considering the outcome of the market operators’ talks with finance minister AMA Muhith on the newly imposed gain tax. The key index of Dhaka Stock Exchange, DSEX, closed at 4,408.80 points, shedding 0.05 per cent or 2.36 ... Read more

The 54th council meeting of Commonwealth Telecommunications Organisation will be held in Dhaka in September, Bangladesh Telecommunication Regulatory Commission officials said on Thursday. CTO, launched in 1967, is an organisation of more than 33 commonwealth countries to promote telecom and IT related cooperation. The 54th CTO council meeting and

The World Bank on Wednesday reaffirmed Bangladesh’s GDP growth projection at 5.4 per cent for the financial year 2013-14 despite the government’s claim of achieving 6.12 per cent growth. The WB in its flagship report, World Economic Prospect, released on the day said that unrest and disruption centring the January 5 elections caused the

Department of Agricultural Extension has estimated that about 1,96,85,000 tonnes of boro rice were produced in the country during the current 2013-14 season, apparently crossing the official production target. A dry weather condition and lack of natural calamities favored the farmers to get a good harvest of boro paddy, despite the growers suffered