AD branches of 8 state-run banks must use SWIFT network: BB

January 31, 2015

Checking Financial Crime
AD branches of 8 state-run banks must use SWIFT network: BB
Bangladesh Bank has asked the country’s eight state-run scheduled banks to ensure using SWIFT network while issuing back-to-back letters of credit in a bid to check fraudulent act and financial crime, officials of the central bank have said. The BB issued a letter to managing directors and chief executive officers of all banks on January 22, asking them to ensure the use of Read more

Dull business frustrates foreign participants at DITF

January 31, 2015

The foreign participants of the month-long Dhaka International Trade Fair, the country’s largest and most vibrant showcasing event, experienced a ‘very dull’ business due to the ongoing political instability compelling them to rethink about their future plan.
A number of foreign participants at the fair venue Read more

Commodity prices remain high in capital

January 31, 2015

The prices of essential commodities including rice, lentil, meat and vegetables remained high on the city’s kitchen markets over the week as non-stop blockade called by the BNP-led alliance is taking toll on the transportation. The prices of rice remained high over the week as the market experienced a supply shortage due to the indefinite blockade enforced, traders said. The Read more

Performance-based management fees for AMCs in the offing

January 31, 2015

The Bangladesh Securities and Exchange Commission is planning to set performance-based management fees for asset management companies of mutual funds in line with its effort to pressurise the entities to improve performance, a BSEC senior official has told New Age recently.
In the existing mutual fund rules AMCs get regular fees Read more

Tigers take time off for go-karting

January 31, 2015

Bangladesh cricket team took some time off from their usual routine on Friday to enjoy a leisurely period with a trip to a local go-karting track in Brisbane. Go Karting Brisbane, one of the best indoor go kart hire racing centers in Australia, is a European-style indoor kart track, featuring around 400m of adrenalin pumping action, with a huge 24m cross over bridge, tunnel, Read more

Joyraz hits ton in drawn youth Test

January 31, 2015

Joyraz Sheikh’s unbeaten century helped Bangladesh Under-19 team secure a draw in the first youth Test against hosts Sri Lanka Under-19 team in Dambulla on Friday.
Joyraz hammered undefeated 100 runs off 167 balls with 11 fours as Bangladesh youth side reached 289-8 in 83 overs before two capatain agreed for a draw. Read more

Rain intervenes in second youth Test

January 31, 2015

Bangladesh Under-19 team reached 78-2 in 28 overs at the end of rain-interrupted second day of the first youth Test against hosts Sri Lanka Under-19 team in Dambula on Thursday. The hosts found them all out after managing a total of 216 – adding only 4 runs to their overnight score of 212-9 after rain delayed the start of second day’s play for several hours. Left-arm Read more

Hosts down but not out

January 31, 2015

Bangladesh national football team left Sylhet on Friday dejected but determined to make it to the semi-final of the Bangabandhu Cup by beating Sri Lanka in their final group-A match on February 2. The 0-1 defeat against a youthful Malaysian side on Thursday left the home side in a must-win situation against Sri Lanka who take on Malaysia today at the Sylhet District Stadium. Read more

Thailand edge Singapore in thrilling contest

January 31, 2015

Thailand Under-23 team got off to a winning start in the Bangabandhu Cup football tournament when they beat a spirited Singapore Under-23 team 3-2 at the Sylhet District Stadium on Friday. Thailand, who are the second top ranked team in the tournament, led the first half 2-0 before Singapore leveled the margin within eight minutes into the second half. But Thai skipper Read more

Rain intervenes in second youth Test

January 30, 2015

Bangladesh Under-19 team reached 78-2 in 28 overs at the end of rain-interrupted second day of the first youth Test against hosts Sri Lanka Under-19 team in Dambula on Thursday. The hosts found them all out after managing a total of 216 – adding only 4 runs to their overnight score of 212-9 after rain delayed the start of second day’s play for several hours. Left-arm spinner Read more

Youthful Malaysia stun hosts

January 30, 2015

Malaysia Under-23 team shocked Bangladesh national side 1-0 in the opening match as the third edition of the Bangabandhu Gold Cup got off to a low-key start in Sylhet on Thursday. Malaysia Under-23 players celebrate their goal while a disappointed Bangladesh national team captain Mamunul Islam (L) looks on during the opening match of the Bangabandhu Gold Cup at Read more

BB eyes 15.5pc pvt sector loan growth, political unrest a risk

January 30, 2015

Monetary Policy For January-June
BB eyes 15.5pc pvt sector loan growth, political unrest a risk
Bangladesh Bank on Thursday announced the monetary policy for the January-June period of the financial year 2014-15, keeping unchanged the private sector credit growth at 15.50 per cent despite a sluggish credit demand from the businesspeople due to the recent spate of political violence.
The central bank earlier in July last year set the private Read more

Export orders slow down due to continuing blockade: Tofail

January 30, 2015

Orders from the foreign buyers for Bangladeshi export goods have slowed down, thanks to the wrong signals they are getting about the country for the non-stop blockade imposed by the BNP-led political alliance to unseat the ruling party. A senior minister of the cabinet on Thursday came up with the disclosure on the 24th day of the blockade enforced by BNP to press home Read more

Import orders dwindle again in Dec amid political unrest

January 29, 2015

The country’s import orders decreased by 7.03 per cent in December 2014 against a 5.23-per cent growth in November as the businesspeople again adopted a go-slow policy to business expansion due to the recent spate of political unrest and uncertainty, said officials of Bangladesh Bank.
According to the BB data released this week, Read more

BSEC scrutinising MFs’ assets to check misuse by AMCs

January 29, 2015

The Bangladesh Securities and Exchange Commission has started scrutinising the assets of the mutual funds as the commission is suspecting unlawful use of the assets by some asset management companies. In December last year, the capital market regulator issued letters to the custodians of mutual funds asking the entities to submit details of the MFs’ assets under their Read more

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