Wednesday, 18 May, 2022

Business

SEC approves two Mutual Funds of Tk 250 crore

DHAKA: The Securities and Exchange Commission (SEC) Tuesday approved Tk 250 crore Sonali Bank Ltd 1st Mutual Fund and Eastern Bank Ltd NRB Mutual Fund. “A meeting of the commission approved the funds,” said executive director of SEC and commission’s spokesman Anwarul Kabir Bhuiyan.

City Bank to issue 1:1, Islamic Finance 2:1 right shares

DHAKA: The Securities and Exchange Commission (SEC) Tuesday approved right shares of City Bank Ltd and Islamic Finance Ltd meant for increasing their respective paid-up capital.Executive director of SEC Anwarul Kabir Bhuiyan informed reporters about the approval after the commission

Govt to import rice from Vietnam, India to meet exigencies

DHAKA: To build a buffer stock to meet any exigencies, the government would import 200,000 metric tonnes of rice from India and Vietnam, the Food Minister announced Tuesday in the wake of an upturn in food prices. Dr Abdur Razzak said the government has taken the initiative to import rice

RanksTel wrangles: BTRC chair, Tele Secy risk running into contempt-rule toils

DHAKA: The High Court Monday issued rule upon the BTRC chairman and the telecommunications secretary to explain within four weeks why they should not be punished on contempt-of-court charge for not appointing administrator for the embattled RanksTel as per court’s order.An HC bench

Bangladesh Bank declares ÔÇ£growth-friendlyÔÇØ monetary policy

DHAKA: The central bank Monday unveiled a “growth-friendly” new monetary policy aiming to help the country attain faster economic growth containing the upward inflation within tolerable levels at the same time. Bangladesh Bank Governor Dr. Atiur Rahman declared the monetary policy at

Govt recommends privatizing 12 more SOEs

DHAKA: The Privatization Commission has decided to sell off 12 state-owned enterprises under the Jute and Textiles Ministry, competent sources said. They said the proposal has been sent to the cabinet committee on economic affairs for final approval for the denationalization.Put on the

Fueling quick-fire power plants: beg or borrow?

DHAKA:  The government is considering an offer for loan instead of handing out subsidy for the supply of fuel oils to the quick rental and rental power plants, hired for a quick-fix answer to a nagging electricity crisis. The Finance Ministry is learnt to have advised Bangladesh

GMG airlines in the capital market

DHAKA: The GMG Airlines, country’s one of the private airliners, is going to make debut in the capital market “very soon” which will be the second aviation company in the bourse.“The Airliner has applied to the SEC for uploading share of Tk 60 crore in the market,” a high

Power-loom workersÔÇÖ strike continues in Narsingdi

NARSINGDI: Power-loom workers here continued their strike for the sixth straight day on Sunday to press home their demands including regularization of jobs and pay-hike. President of district Textile Mill Owners` Association AKM Fazlul Haq termed the workers` 13-point demand is baseless.

Milk Vita records Tk 16 crore profit

DHAKA: State-owned dairy Bangladesh Milk Producers Co-operative Union Ltd (BMPCUL) or Milk Vita recorded a Tk 15.81 crore profit in the last fiscal.  “The organisation made the profit with skilled management,” General Manager of Milk Vita Nasim Ahmed told a press conference on

Rice price to come down before Ramadan: Food minister

DHAKA: Food Minister Dr. Abdur Razzak Saturday said the price of rice would come down before the holy month of Ramadan, as the government plans market intervention against price fixing.“The government has taken all-out preparations to keep the price of rice within the purchasing

India, Nepal to use Ctg, Mongla seaports: Shipping Minister

MANIKGANJ: Shipping Minister Shahjahan Khan said the government would let India and Nepal use Chittagong and Mongla seaports in order to reap economic benefits, as the presnt government has agreed on transit facilities for the two neigbours.“Friendly relationships would be strengthened

Cairn warns of withdrawing investment

DHAKA: British oil company Cairn Energy has threatened to take out its investment from all hydrocarbon fields, including South Sangu and Magnama, if the government does not withdraw the corporate tax on gas sale to a third party. But Energy Ministry and Petrobangla, the state-run

PDB signs agreements for 100MW quick rental power

DHAKA: The Power Development Board (PDB) signed agreements with two more companies on Thursday which will generate 100MW power under quick rental system.One of the plants will be set up at Pagla of Narayanganj to generate 50MW power by diesel while the other 50MW at Amnora of

Rumours pull down DSE benchmark through sharp price falls

DHAKA: Dhaka Stock Exchange (DSE) Wednesday witnessed a sharp price fall prompted by rumours that the price-earning (PE) ratio of shares would be sector-based.   The free fall of share prices, with most of the companies losing out in the day’s trading, pulled down the DSE indexes,

Rumours pull down DSE benchmark through sharp price falls

DHAKA: Dhaka Stock Exchange (DSE) Wednesday witnessed a sharp price fall prompted by rumours that the price-earning (PE) ratio of shares would be sector-based.   The free fall of share prices, with most of the companies losing out in the day’s trading, pulled down the DSE indexes,

Trade unions in garments may solve unrest, Editors tells BGMEA

DHAKA: Speakers at an opinion exchange meeting Wednesday suggested that the wages of the garment workers must be fixed in line with inflation, capability of the owners and expenditures of workers. They suggested that the government, owners and the workers must show positive attitude in

Mega-plan to generate 20,000MW power by 2021, Tawfiq Elahi

DHAKA: Dr. Tawfiq-E-Elahi Chowdhury, Energy Adviser to the Prime Minister, said the government has taken a mega-plan to generate around 10,000MW power by the year 2015.“The government is also going to formulate another grand mega-plan to generate 20,000MW power by 2021,” he said while

Staking luck on Book Building stocks: investors count 60% loss

DHAKA: The common investors who staked their luck on stocks that are introduced and operated under book-building system on the stock market became unlucky, as they have to count out most of their capital.  When the companies are making profit, common investors of three companies under

Intl. Trade Fair begins in Sylhet

SYLHET : Commerce Minister M Faruk Khan Wednesday inaugurated the month-long International Trade Fair’ in Shahi Eidghah area in the city. A number of foreign companies of India, Nepal, China, Thailand and Malaysia are showcasing their products in the fair.  Administrator of Sylhet