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Look at the issue realistically As reported in this newspaper recently, a large number of electric three-wheelers have flooded the port city. And they come in two forms, motor-rickshaws and easy-bikes, which are battery powered. They are unauthorised, not having obtained BRTA approval. The fact is, it is not only Chittagong but also many other […]

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17 IPOs, but not enough to cure ailing stocks

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Sarwar A Chowdhury Seventeen new securities — sixteen equity stocks and one mutual fund — raised Tk 1,186 crore from the stockmarket through initial public offerings (IPOs) this year, according to Dhaka Stock Exchange. However, the new IPOs were not enough to inject vigour into the market, which showed signs of volatility with the key […]

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Anomalies cost state Tk 730cr

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Audit watchdog finds state-run BPC didn't deposit Tk 639cr VAT to national exchequer even 5yrs after collection Md Fazlur Rahman The national exchequer lost Tk 730.33 crore between fiscal 2007-2008 and 2009-2010 due to irregularities in state-run Bangladesh Petroleum Corporation and its subsidiaries, according to an audit watchdog. In 2008-2009, BPC received Tk 639.40 crore […]

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BB's growth forecast falls below govt target

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The central bank says GDP growth will be around 6.2pc this fiscal year The economy is likely to grow at a similar pace as experienced over the last ten years — of around 6.2 percent — in fiscal 2012-13, despite the continued global economic slowdown, Bangladesh Bank said yesterday. “Most indicators in the first quarter […]

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Misdeeds at BASIC Bank

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Top auditor finds anomalies cost the state bank Tk 100cr The BASIC Bank rules did not allow a branch manager to create any temporary overdraft (TOD) opportunity in favour of current account holders without approval from the head office. But that is exactly what the bank's Gulshan branch manager did in 2005. The manager made […]

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BB opens gateway to e-commerce

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Launches National Payment Switch to facilitate online transactions; new system to bring credit/debit cards of all banks under a single network Bangladesh Bank Governor Atiur Rahman shows a banknote at the launch of a national payment switch at the central bank in Dhaka yesterday. The new system will accelerate e-commerce in Bangladesh. The central bank […]

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The Pre-shipment inspection (PSI) system used for evaluating export and import goods will remain in practice for another six months, Finance Minister AMA Muhith said on Thursday. Although the government had planned to abolish the system by the year-end, it could not be scrapped due to lack of preparations. “We have decided to abolish PSI. […]

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Stocks up at opening

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Share prices at the country’s both bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – witnessed uptrend in early hours of trading on Wednesday. The DSE benchmark index, DGEN gained 25 points or 0.60 percent to reach 4175.72 at 11:05 am today. Of the issues traded till then, 115 gained, 25 declined […]

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Tourists sit under beach umbrellas in Cox’s Bazar. Fears of political turmoil have depressed the 2013 outlook for tourist arrivals from abroad. Photo: STARSohel Parvez The good times the local tour operators saw in 2012 are unlikely to roll into 2013 due to political turmoil, tour operators said yesterday. A relatively stable political environment in […]

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Met office forecasts fog for couple of days more Crops, especially, Boro seedlings may suffer from cold injury in the chilling weather coupled with thick fog while potatoes from blight if farmers do not take extra caution, agronomists say. The cold wave and dense fog would linger for another couple of days, according to the […]

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  Nine listed companies raised about Tk 865 crore, including premiums, through rights shares this year, which is 63 percent lower than last year. The companies issued 49.79 crore rights shares to raise the amount, according to data from the Dhaka Stock Exchange. The fall in capital raised through rights shares was mainly due to […]

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AMA Muhith  Finance Minister AMA Muhith on Sunday said when the world’s leading dailies like the Guardian speak about the prospects of country’s economy then everyone becomes elated, but when the government told the same thing it did not sound good to some people. “Our character is that when the Economist, Wall Street Journal and […]

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