Browse Author

bdreports24

7 private banks incur loss in 1st quarter  

Seven private banking companies incurred operating loss in the first quarter of the current calendar year due to prolonged standoff in trade and commerce that slowed down investment growth, according to Dhaka Stock Exchange (DSE) sources. Industry insiders said slow pace of recovery that began after January 5 parliamentary election could not make up the deficit in operational expenditure of the banks,reports the Daily Sun. Financial statements for January-March 2014 submitted to the DSE shows that the remaining 23 private commercial banks could not make significant income but the amount required for provisioning was higher due to rise in classified loans. “Increase in operational cost coupled with higher provisioning requirement is eroding banks’ income,” said former Bangladesh...

Remittance from Middle East falls by 12pc  

The country received US$6.92bn in July-April period in fiscal year 2013-14 compared to $7.87bn in the same period of the last fiscal year Remittance inflows from the Middle Eastern countries dropped by 12% in the last 10 months of the current fiscal year due to the fall in manpower export and the political unrest over January 5 polls. The country received US$6.92bn in July-April period in fiscal year 2013-14 compared to $7.87bn in the same period of the last fiscal year reports The Dhaka Tribune. However, remittance inflow from the Western countries increased by 8% to $4.80bn during the 10 months from $4.43bn in the same period of the previous fiscal year, according to the Bangladesh Bank data.

Eurosceptic ‘earthquake’ rocks EU elections  

Eurosceptic and far-right parties have seized ground in elections to the European parliament, in what France’s PM called a “political earthquake”. While the French National Front and UK Independence Party both appear headed for first place, the three big centrist blocs in parliament all lost seats, reports the BBC. The outcome means a greater say for those who want to cut back the EU’s powers, or abolish it completely. EUBut EU supporters will be pleased that election turnout was slightly higher. It was 43.1%, according to provisional European Parliament f...

BASIC Bank MD removed

Bangladesh Bank (BB) on Sunday removed BASIC Bank Limited Managing Director (MD) Kazi Faqurul Islam on charge of irregularities and corruption. Kazi Faqurul Islam has been removed with immediate effect as he indulged in financial irregularities while disbursing loans violating the central bank’s directives, BB General Manager AFM Asaduzzaman told UNB over phone. Basic bank MDIrregularities in the bank came to the fore early last year. BB inspections found that the bank approved loans of Tk 4,500 crore, mostly without proper documentation...

3rd Convocation of Southeast University held

Southeast University celebrated its “3rd Convocation-2014” on Saturday (24 May, 2014) at Bangabandhu International Conference Centre (BICC), Sher-e-Bangla Nagar in the city. President and Chancellor of the University Md. Abdul Hamid delegated his representation to Education Minister Mr. Nurul Islam Nahid, MP to preside over the convocation ceremony. 3rd convocation-1Professor Emeritus Dr. Anisuzzaman, Padma Bhushan, Department of Bangla, Dhaka University deliverd his valuable speech as the Convocation Speaker. Mr. Md. Reza...

Comely Comilla in Bangladesh is worth visiting

Our morning flight from Mumbai took us to Agartala, from where a pleasant 70-km ride, through a smooth state highway that snaked around green undulating hills, took us to the border town of Sonamura. While generally friendly, most Indo-Bangladesh border crossings are very crowded and tout-ruled affair. Fortunately, the virtually deserted one at Bibir Bazaar was just the opposite. There were just two officials and two border guards on each side (if I exclude a hyperactive pet monkey outside the Bangladesh immigration office), who ensured clearances within minutes. Another twenty minutes drive brought us to the center of the Comilla town, at three in the afternoon.
Verified by MonsterInsights