Tourism fair in Oct to offset past losses

July 5, 2015

A three-day international tourism fair will be held in Dhaka in October to jumpstart the sector’s peak season after the previous two ones were virtually written off due to political turmoil. The sector’s peak season starts from October and lasts until March, and in the past two years it coincided with political unrest, which put off foreigners from visiting the country. Read more

Transactions cross Tk 420cr

July 4, 2015

The value of the total number of daily transactions through mobile financial services (MFS) has crossed Tk 420 crore in May for the first time since the launch of the service in 2011. “After negative growth in April this good news. MFS is gaining popularity as people can send and receive money when they need it,” said Bangladesh Bank Executive Director Mahfuzur Rahman. Read more

DSE to introduce smartphone-based share trading system by June

February 28, 2015

The Dhaka Stock Exchange has planned to launch a smartphone-based share transaction system by June this year with a view to making share trading more convenient for investors, DSE officials said. The DSE management earlier had said that the bourse would launch a mobile-based trading system within April this year. The DSE on December 11 last year launched a new trading Read more

Banks to reschedule farm loans without down payment

February 25, 2015

Bangladesh Bank has asked scheduled banks to reschedule the defaulted farm loans without taking any down payment in a bid to save the farmers from the existing political unrest, said officials of the central bank. The BB issued a circular to managing directors and chief executive officers of all banks on Monday asking them to disburse fresh loans to the farmers after rescheduling Read more

BGB plans to enter into banking business

February 25, 2015

Moves to set up Shimanta Bank in six months
Border Guard Bangladesh got the green signal from the Prime Minister’s Office to launch a commercial bank, Shimanta Bank, within six months, said officials.
‘We are advancing with all the formalities necessary to set up a bank since the prime minister gave approval in principle,’ the BGB director general, major Read more

WB VP advises govt to improve business environment for pvt sector

February 25, 2015

Visiting World Bank vice president for South Asia Region Annette Dixon on Tuesday advised the government to improve the existing business environment for the private sector to become a middle income country. Dixon made the plea while talking to journalists after a meeting with Bangladesh Bank governor Atiur Rahman at the central bank headquarters in the capital. When Read more

Revenue collection falls Tk 2,359cr short of target in Jul-Jan

February 25, 2015

NBR to frame policy to prevent misuse of income tax rebate
Revenue collection by the National Board of Revenue fell short by Tk 2,359 crore in the first seven months of the current financial year 2014-15, NBR chairman Md Nojibur Rahman said on Tuesday. At a regular news briefing at NBR headquarters in the capital, Nojibur said taxmen collected Tk 69,466 crore in July-January period of the financial year against the target of Tk 71,825 crore Read more

FBCCI polls on May 23

February 25, 2015

The biennial election board of the Federation of Bangladesh Chambers of Commerce and Industry announced May 23 as the election date for 2015-17 tenure.
The chairman of the election board Ali Ashraf on Tuesday announced the schedules of the FBCCI election date for the next two years’ tenure. As per the schedule, Read more

LC cancellations rise by 25pc in H1

February 21, 2015

Cancellations of the import-related letter of credit increased by 24.94 per cent in the first half of the current fiscal year because of disagreement between importers and exporters and dull business situation in the country amid political uncertainty and unrest in the period, Bangladesh Bank officials said. The BB data released recently showed that LC cancellations rose by 24.94 per cent in Read more

AIMS submits plan to BSEC for MF conversion

February 21, 2015

AIMS of Bangladesh Limited has submitted an action plan to the capital market regulator for the possible conversion or windup of two close-ended mutual funds it manages as the tenure of the mutual funds will end in June 30 this year, AIMS of Bangladesh managing director Yawer Sayeed told New Age on Monday. The AIMS-managed two mutual funds are AIMS First Guaranteed Read more

Commodity prices stay high

February 21, 2015

Prices of daily essentials including beef and mutton remained high in the capital’s kitchen markets over the week ending Friday as the ongoing blockade being enforced by the BNP-led alliance hurt the supply chain across the country. Beef was selling at Tk 340-Tk 350 a kilogram in the city’s kitchen markets on Friday while mutton was selling at Tk 500-Tk 530 a kg. Broiler price also Read more

Dhaka stocks return to negative zone

February 21, 2015

DSE Weekly Review
Dhaka stocks return to negative zone
Dhaka stocks returned to the negative zone last week after a sharp rise in the previous week due to investors’ profit taking share sell-offs and scepticism about the market prospect amid fresh political tension. The key index of Dhaka Stock Exchange, DSEX, fell by 1.10 per cent, or 53.49 points, over the week to close at 4,788.23 points on Thursday. Out of the five trading sessions of the Read more

Political unrest pushes up defaulted farm loans

February 20, 2015

The defaulted loans in the agriculture sector increased by 14.42 per cent in the first seven months of this financial year despite a downward trend in farm loan disbursement in the period as farmers failed to repay their loans for not getting fair prices of their products due to a supply chain disruption amid political unrest. According to the Bangladesh Bank data released last week, the Read more

Muhith agrees to raise VAT-free turnover limit to Tk 36 lakh

February 20, 2015

Finance minister Abul Maal Abdul Muhith has agreed to raise the value-added tax-free annual turnover threshold for traders to Tk 36 lakh from Tk 24 lakh, following recommendations from the VAT Act-2012 review committee, officials of the National Board of Revenue said.
In a recent instruction to the revenue board, finance minister Read more

Real estate sector suffers Tk 1,656cr in losses due to unrest, claims REHAB

February 20, 2015

Country’s real estate sector suffered losses of Tk 1,656 crore in the last 46 days due to a nonstop blockade and frequent hartals enforced by the BNP-led alliance since January 6, claimed sector leaders. The sector leaders at a press conference on Thursday demanded loan rescheduling facility for two years and waiver of interest on bank loans during the political unrest. The Real Estate Read more

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