WedJan172018

Warning: Attempt to modify property of non-object in /hermes/bosnaweb08a/b1490/ipw.bangladesh-web/public_html/new/components/com_jomcomment/mambots.php on line 143

Business

BB warns 4 banks, 2 NBFIs for industrial loan default

  • PDF

Bangladesh Bank on Wednesday warned four commercial banks and two non-bank financial institutions over their increasing trend in industrial defaulted loans, said central bank officials.
The BB arranged a meeting with the senior officials of the banks and the NBFIs on the day asking them to take measures in order to recover the classified or defaulted loans, a BB official told New Age on Thursday.

FULL STORY

Govt to provide support for car manufacturing

  • PDF

Dhaka, Mar 28 (UNB) – Commerce Minister GM Quader on Thursday said the government will provide support to entrepreneurs willing to go for car manufacturing in the country.

“If the businessmen take initiatives for car manufacturing, the government will give all kinds of support,” he said.

He was addressing the inaugural function of the three-day 8th Dhaka Motor Show 2013, organised by CEMS (Conference and Exhibition Management Services) Bangladesh at Bangabandhu International Conference Centre.

FULL STORY

Orion Group gets 90 days’ extension

  • PDF

DHAKA, MAR 28: Bangladesh Power Development Board (BPDB) has extended three months time to Orion Group to close their financial books of their three power plants. The time was expired on March 26, a power division official said. “We have allowed the group to complete this task by the next three months as per their request and asked them to submit reports in this regard,” the official said.
The power division has conducted a review meeting at the power division on Wednesday where adviser to the Prime Minister Dr. Tawfiq-e-Elahi Chowdhury, State Minister for power, Mohammad Enamul Haque and top officials of the power ministry were present.

FULL STORY

FBCCI for raising individual tax-free limit to Tk 2.4 lakh

  • PDF

DHAKA, MAR 28: Country’s apex trade body FBCCI on Thursday recommended the government not to raise the tax collection target in the coming budget more than 15 per cent of the revised budget in the current fiscal. The apex body also expressed its opinion in favour of keeping the Annual Development Programme (ADP) within 15 per cent higher than that of the current target.
The apex trade body also recommend the government to raise the tax free income limit for individual tax payers up to Tk 2,40,000 from existing Tk 200,000.

FULL STORY

Bangladesh needs to be helped in int’l security interest: Steinberg-It may miss DFQF facility if it loses GSP, says US envoy

  • PDF

News - Bangladesh needs to be helped in int’l security interest: SteinbergDhaka, Mar 28 (UNB) – Visiting USAID Deputy Administrator Donald Steinberg on Thursday said they need to help Bangladesh in the interest of ‘international security’.

 

 

FULL STORY

Record Japanese loan to spur Bangladesh economy

  • PDF

Japan will give Bangladesh $1.04 billion – its largest-ever loan to Bangladesh – to help build and repair bridges, among other infrastructure projects. Improved ...

FULL STORY

Revenue collection pace still slow in July-Feb

  • PDF

Revenue collection by the National Board of Revenue fell short of the target for the first eight months of current fiscal year by 4.5 per cent or Tk 3,114 crore mainly due to failure in achieving target by VAT and customs wing of the NBR, said officials.
Current political unrest, frequent hartals, sluggish trends in export and negative growth in import in July-February have taken toll on revenue collection in the period.

FULL STORY

PADMA BRIDGE FUNDING - NBR drops plan to impose surcharge

  • PDF

The National Board of Revenue has shelved its plan to impose surcharge on different sectors to raise funds for implementing the much-vaunted Padma Multipurpose Bridge project.
‘We will not impose any surcharge on any sector for the construction of the bridge and no new or additional tax will be imposed on taxpayers for this purpose,’ NBR chairman Ghulam Hussain told reporters after a budget preparation meeting with finance minister Abul Maal Abdul Muhith on Wednesday at the revenue board headquarters.

FULL STORY

Cushion against shutdown shocks - Goods transports to get police protection; patrol on Dhaka-Ctg highways to be heightened; banks and customs to remain open on weekends

  • PDF

The government yesterday announced a series of steps to provide businesses with a cushion against the losses of frequent shutdowns.
The government will give police protection to transport of industrial goods, heighten patrol on Dhaka-Chittagong highways, and keep banks and customs services open on weekends.
The foreign exchange branches at ports of all commercial banks will remain open on Fridays and Saturdays.
The authorised dealer branches of all scheduled banks were advised to remain open on Saturdays, if necessary, to facilitate exports and imports.

FULL STORY

Share prices down, turnover record low

  • PDF

Dhaka, Mar 27 (UNB) – Share prices at the country’s both bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) –- witnessed substantial fall as the turnover plunged to record low on Wednesday.

FULL STORY

Ensure security on Dhk-Ctg highway: Top businesses

  • PDF

Dhaka, Mar 27 (UNB) – Disappointed at the current political instability, top business leaders on Wednesday sought necessary security measures on Dhaka-Chittagong highway to ensure smooth transportation of goods, especially export-oriented goods.
The business leaders said they have not been able to transport their goods through the Dhaka-Chittagong highway safely in recent days due to frequent countrywide shutdowns.

FULL STORY

New Biman chief vows to salvage the sinking ship

  • PDF

DHAKA, MAR 27: Kevin Steele, the newly appointed Managing Director of Biman Bangladesh Airlines Wednesday expressed his firm determination to make the national airlines a profitable concern and rank it up among major airlines of the world. “I am confident that we can turn Biman a profitable, punctual, high quality airline that we can all be proud of it,” said Kevin while addressing a press conference, fist of its kind since he joined the new assignment.
An experienced aviation expert Kevin Steele joined Biman Bangladesh Airlines as its new Managing Director cum Chief Executive Officer (CEO) on March 18, 2013. He joined Biman at a time when the airline is incurring huge losses due to mismanagement, corruption, inefficiency and shortage of aircrafts.

FULL STORY

Written-off loan up by 14.20 per cent

  • PDF

DHAKA, MAR 27: Written-off loan in the banking sector increased 14.20 per cent or Tk 30 billion in the year 2012 from the previous year 2011. The central bank data revealed that a total Tk 238.36 billion was written off in 2012 by the banks while it was Tk 208.73 billion in the earlier year. Latest report of the Bangladesh Bank shows that out of the total write-off amount, the private banks together have written off a total Tk 100.35 billion, state-owned commercial and specialised banks Tk 134.87 billion while the remaining Tk 3.14 billion was written off by all the foreign banks.
Lack of proper scrutiny for allocating large volume project loan has breeding default loan in the banking sector said Shymal Kumar Sadhu, a loan executive of ONE bank Ltd.

FULL STORY

New prog to support co-management in B’desh’s protected wetlands, forests

  • PDF

News - New prog to support co-management in B’desh’s protected wetlands, forestsDhaka, Mar 27 (UNB) – A new `USAID Climate-Resilient Ecosystems and Livelihoods (CREL) program’ was formally launched Wednesday seeking to expand and strengthen USAID's support for co-management in up to 25 of Bangladesh's 35 protected wetlands and forests.

FULL STORY

PM opens Mirpur-Airport flyover

  • PDF

DHAKA: Prime Minister Sheikh Hasina inaugurated the Mirpur-Airport Road flyover on Wednesday for traffic movement.The 1.75 kilometer flyover will facilitate east and west connectivity and reduce travel time of commuters.

 

FULL STORY

Make loan rescheduling flexible - Banking in a mess

  • PDF

The business is facing new troubles. Investments are drying up and
banking is at a total mess. The worsening political situation is hitting hard the economy and moreover the central bank is creating one after another trouble to business, mainly relating to bank loans to run ongoing operations and go for new ones.
The troubles are multidimensional and business men at a loss who will save them from falling into loan trap. They said they have already taken the issue with Finance Minister AMA Muhith and Bangladesh Bank governor Dr Atiur Rahman but without a remedy so far.
Business leaders said, the central bank is in fact pulling back business by shortening the loan rescheduling time period in one hand and asking banks which are suffering from liquidity crisis on the other to borrow from other banks having surplus to meet their minimum statutory reserves limits.
Moreover, the central bank is allowing the rescheduling of loans by commercial banks on easy term to business houses closer to the government apparently on political consideration thus discriminating ordinary borrowers.

FULL STORY

Oil nearly unchanged after Cyprus rescue bailout

  • PDF

BANGKOK, MAR 26 (AP/UNB) - The price of oil was steady Tuesday as a financial rescue package to keep Cyprus from bankruptcy came under renewed scrutiny.
Benchmark crude for May delivery was down 1 cent to $94.80 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.10 to finish at $94.81 a barrel on the Nymex on Monday. That was the highest New York closing since Feb. 20.

FULL STORY

Science and Technology

Entertainment

Travel

Life Style & Fashion

Health