Business Desk :The non-bank financial institutions have demanded withdrawal of the 7 per cent interest cap on deposit.They came up with the demand at the first meeting of the Federation of Bangladesh Chambers of Commerce and Industry’s standing committee on non-banking financial institutions, held at the FBCCI office in Dhaka on Wednesday. As per the instruction given by Bangladesh Bank, NBFIs cannot offer more than 7 per cent interest on deposit, which is lower than the banks offer to their...
Business Desk :The government extended the tenure of Hilsa export to India until October 5 next. The Commerce Ministry on...
Busness Desk :Infobip, a global cloud communication company and a leader in omnichannel engagement, hosted an exclusive live event ‘Omnichannel Customer Experience for Maximizing Business Growth’ at The Westin Dhaka. The event brought together distinguished industry leaders from Bangladesh across sectors including BFSI, retail & e-commerce, and digital natives, reads a press release.An evening conference witnessed a stellar opening remark by the Director of Customer Services – India, Bangladesh, Nepal, and Sri Lanka of Infobip Shankar Iyer, who shared insights...
Business Desk :The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of the Chittagong Stock Exchange’s selling of a 25 per cent share to ABG Limited, a sister concern of Bashundhara Group, as a strategic investor.The BSEC gave the approval at a commission meeting held in Dhaka on Wednesday. BSEC chairman, Prof Shibli Rubayat Ul Islam, presided over the meeting.ABG Limited is offering Tk 15 for a share, but the CSE’s asking price is based on a 2016...
Business Desk :The Cabinet Committee on Government Purchase in a virtual meeting on Wednesday approved a number of proposals including the import of 90,000 tonnes of fertiliser. Finance Minister AHM Mustafa Kamal presided over the virtual meeting. The Bangladesh Chemical Industries Corporation (BCIC) will buy entire fertilisers in three separate lots from three different companies under separate contracts, reports UNB. As per the proposals, some 30,000 tonnes of bagged granular urea fertiliser will be procured from Karnaphuli Fertiliser Company (Kafco)...
Business Desk :Paramount Textile Limited has received an AA credit rating for the long term and ST-1 in the short term, based on its audited financials and other relevant information up to 30 June 2021.The ratings, announced by Alpha Credit Rating Limited, signify a company’s strong capacity to repay stockholders and a good position in the stock market.The ratings indicate a company’s financial excellence, health, franchise sustainability, and a first-class operating environment.Earlier in 2020, the rating agency rated the company...
Business Desk :China’s currency, the yuan, has hit fresh record lows against the surging US dollar, according to BBC News.The yuan has fallen below 7.2 to the dollar for the first time since a separate system for trading the currency outside mainland China was launched more than a decade ago, said the Wall Street Journal.China’s domestic currency also reached its weakest point since the 2008 global financial crisis, the BBC reported.It comes as the dollar continues to rise in value...
Business Desk :Stocks closed marginally higher Wednesday, after a three-day losing streak, as bargain hunters showed their buying interest on selective issues.The market opened on a positive trend and the key index of the premier bourse rose 30 points in the first half of the trading session. But, selling pressures at the last moment wiped out most of the early gains.DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), finally went up by 7.34 points or 0.11 per cent...