TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Four business groups, which got their loans of Tk 3,200 crore restructured under the central bank’s special policy around three years ago, have failed to pay regular instalments for most of the loans. The companies — SA Group, Ratanpur Group, Keya Group and MR Group — now owe the money to a dozen state-run and private banks. The amount is 4 percent of the total defaulted loans of Tk 80,307 crore in the banking sector. These large borrowers have recently applied to Bangladesh Bank for rescheduling the loans again, and are also lobbying with their lenders.
Source: http://www.thedailystar.net/backpage/red-blinking-1504711
A branch of a Russian Bank will soon be opened in Bangladesh to establish banking channel aimed at expanding cooperation in the private sector. This was disclosed by Ambassador of the Russian Federation Alexander I Ignatov today. He said this while exchanging views with the leaders of Chittagong Chamber of Commerce and Industry at the CCCI office at World Trade Centre at Agrabad in the city this afternoon. Russia’s Acting Consul General in Chittagong Viacheslav Zakharov accompanied him.
Source: http://today.thefinancialexpress.com.bd/last-page/russia-will-open-bank-in-bd-1513187695
A government move to withdraw existing shares of the state-run Rupali Bank from Pakistan-based Summit Bank has stalled for long mainly due to “bureaucratic tangles. Officials said the government took the decision to sell 1.84% or 32.77 million shares of Rupali Bank from the Pakistani bank in March 2015. To this effect, the board of directors of Rupali Bank formed a four-member high-powered committee to withdraw shares and realize all dues from the Pakistani bank. The committee comprises representatives from the finance ministry, foreign ministry, Bangladesh Bank and a deputy managing director of the Rupali Bank. The committee was recast after the post of its chief had fallen vacant. That is why it took time to come to the decision. When asked, a senior official of the bank said that neither was the bank gaining little benefit from the Pakistani Summit Bank nor is there any positive prospect for the future. As such, selling. In 2008, the Summit Bank issued 3.27 million bonus shares in favour of Rupali Bank. Currently, the Pakistani bank owes over PKR 16.3 million to the Rupali Bank, as mentioned in the Pakistani bank’s balance sheet. Currently, Rupali Bank has 1.84% shares with the Pakistani bank. Face value of each of the bank’s share is PKR 10. Market price of per share is hovering between PKR 2.37 and PKR 2.45, according to a source in the Financial Institutions Division under finance ministry.
Mohammad Habibur Rahman Chowdhury has been appointed as the Deputy Managing Director (DMD) and Chief Financial Officer (CFO) of Prime Bank Limited recently. Prior to the assignment, Habibur Rahman Chowdhury worked at United Commercial Bank Limited as its DMD and CFO, according to a statement. He also worked at Standard Chartered Bank, Bangladesh, Standard Chartered Bank, Dubai and Al Hilal Bank based in Abu Dhabi.
Source:
http://today.thefinancialexpress.com.bd/stock-corporate/new-dmd-cfo-of-prime-bank-1513189847
http://www.dhakatribune.com/business/banks/2017/12/14/prime-bank-appoints-new-dmd-cfo/
http://www.theindependentbd.com/post/128049
Dhaka Bank and Epyllion Group signed an agreement on Cash Management Services at Dhaka Bank Corporate Office Tuesday. Under this agreement, Dhaka Bank Ltd will provide Cash Management facility to Epyllion Group through online portal “Dhaka Bank C Solution”. Syed Mahbubur Rahman, Managing Director & CEO of Dhaka Bank Ltd and Reaz Uddin Al-Mamoon, Managing Director of Epyllion Group signed the agreement on behalf of their respective companies.
Export Import Bank of Bangladesh Limited (EXIM Bank) has started implementing SWIFT’s Sanctions Screening solution to prevent financial crime by making the transaction process more secure. The fully automated service will screen all incoming and outgoing transactions related to foreign trade. Managing Director and CEO of EXIM Bank Dr Mohammed Haider Ali Miah formally inaugurated the implementation of the service at a ceremony held Wednesday at EXIM Bank Head Office in city’s Gulshan area.
Country’s primary securities market seems to be drying up as it witnessed the lowest IPOs (initial public offerings) and also smallest amount of funds raised in 2017 since 2009. According to information from Dhaka Stock Exchange (DSE), the amount of IPO funds declined 74 per cent this calendar year compared to previous year.
The market prices of most of the listed mutual funds (MFs) are yet to cross their face value due to various reasons including investors’ shaky confidence. The Bangladesh Securities and Exchange Commission (BSEC) is yet to finalize the proposed amendment to the rules of MFs it had approved long back for bringing discipline in managing the MFs. The regulator had approved some new provisions for the amendment at a meeting held on December 7, 2015. But the BSEC is yet to take public opinion to finalize the amendment to the rules of MFs. According to the managing director of an Asset Management company, the market price of MFs can go below their net asset value (NAV). He said investment culture is required to restore investors’ confidence to MFs. According to information of Dhaka Stock Exchange (DSE), a total of 36 closed-end MFs are listed with the stock exchanges and 28 MFs are being traded below their face value of BDT 10 each.
The Asian Development Bank will lend more than $6 billion to Bangladesh in 43 projects from 2018 to 2020 to generate inclusive growth and help the country achieve the Sustainable Development Goals. The ADB said the projects will be bankrolled from its current indicative five-year plan covering 2016 to 2020. Under the current country partnership strategy, the bank will lend more than $8 billion to Bangladesh, up from $5 billion in the previous five-year period. The ADB affirmed its long-term commitment and development partnership with Bangladesh as the Manila-based lender marked its 50th founding anniversary. The Bangladesh resident mission organised an event at Le Méridien in Dhaka on Tuesday to celebrate the anniversary.
Source: http://www.thedailystar.net/business/adb-lend-6b-three-years-1504738
The Asian Development Bank (ADB) in its latest outlook supplement repeated its pared-down growth projection at 6.9 per cent for Bangladesh in the current fiscal year. In September last, the Bank in its Asian Development Outlook (ADO) 2017 Update had scaled down Bangladesh’s economic growth to 6.9 per cent from the government-projected 7.4 per cent for the FY2017-18.
The revenue authority now plans to provide businesses with the opportunity to submit VAT returns by post and courier, a senior NBR official said yesterday. “We are considering this option to reduce hassles of the taxpayers to visit field office,” said Md Rezaul Hasan, member for customs and VAT administration at the National Board of Revenue (NBR). He said the tax administrator plans to open submission of VAT returns online from the next month. “We are in discussion with businesses in this regard.”
Source:
http://www.thedailystar.net/business/businesses-can-now-courier-vat-returns-1504702
http://www.newagebd.net/article/30426/nbr-to-allow-filing-vat-returns-by-post-courier
The revenue authority now plans to provide businesses with the opportunity to submit VAT returns by post and courier, a senior NBR official said yesterday. “We are considering this option to reduce hassles of the taxpayers to visit field office,” said Md Rezaul Hasan, member for customs and VAT administration at the National Board of Revenue (NBR). He said the tax administrator plans to open submission of VAT returns online from the next month. “We are in discussion with businesses in this regard.”
Source: http://www.newagebd.net/article/30435/10500mw-power-generation-planned-for-boro-season
Bangladesh plans to increase its apparel export to the global market with a high ambition of reaching the USD 50-billion mark by 2021, in line with the government’s Vision 2021, which is centred around a goal for the country to attain the middle-income country status by that year when the nation celebrates the golden jubilee of its independence. But doubling the export, which currently stands at USD 28 billion, in just four years’ time is going to be a difficult task. The only way to increase the export amount is by adding value to the apparel.
Source: http://www.thedailystar.net/opinion/perspective/bangladesh-apparels-crossroads-1504519
The number of active subscribers of mobile phone operator Robi Axiata Limited has declined at the end of October this year for the first time after its merger with Airtel Bangladesh last year while the country’s total mobile phone subscribers rose by 960 thousands in the month. Robi was the lone operator that lost customers at the end of October this year as its subscribers declined by 0.43,000 to 4,11,68,000 from 4,12,11,000 at the end of September this year. The subscriber base of Robi was 3,29,90,000 at the end of November 2016 when Airtel merged with the operator with 77,29,000 subscribers. Since the merger, the mobile phone operator managed to maintain growth, in terms of attracting customers, till August this year but lost the growth momentum in October. The subscriber base of the operator increased to 4,06,69,000 at the end of August. On the other hand, number of active mobile phone subscribers in the country increased to 14,16,79,000 at the end of October that was 14,07,13,000 at the end of September this year. The BTRC data also showed that number of active subscribers of Grameenphone increased the most, 559 thousand during October this year, while subscribers of Teletalk and Banglalink increased by 252 thousand and 198 thousand respectively.
Source: http://www.newagebd.net/article/30428/robi-loses-customers-in-oct-as-other-operators-add-92-lakh
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 6,224.08 | ↓27.53 | ↓0.44% |
| DJIA | 24,585.43 | ↑80.63 | ↑0.33% |
| FTSE100 | 7,496.51 | ↓3.90 | ↓0.05% |
| Nikkei 225 | 22,726.76 | ↓31.31 | ↓0.14% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 56.77 | ↑0.17 | ↑0.30% |
| Crude Oil (Brent) | $ 62.83 | ↑0.39 | ↑0.62% |
| Gold Spot | $ 1,256.86 | ↑1.36 | ↑0.11% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 82.61 |
| GBP 1 | BDT 110.91 |
| EUR 1 | BDT 97.77 |
| INR 1 | BDT 1.28 |
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