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Foreign aid utilisation hits record low

Utilisation of foreign aid has hit a record low in the current fiscal year because of the stagnation in development activities amid political unrest due to conflict between the ruling party and opposition over holding the general elections. Finance ministry officials said only 11 per cent of total foreign aid disbursed until October was utilised, seven per cent lower than the same period of the last fiscal year. remmitanceThe trend is the lowest in recent past as utlisation rate o...

Banks show mixed performance last year

The country’s scheduled banks in the just-concluded year showed a mixed performance as some banks posted healthy operating profit while other banks lost their profitability due to business stagnation amid political unrest. A BB official said on the last day of 2013 that the banking sector had faced different types of crisis in the concluded year as the private sector plunged in a debacle due to the frequent violence amid political disputes ahead of the general elections. Bangladesh-banking-sector

AMTOB to distribute 3G handsets for freedom fighters

Association of Mobile Telecom Operators of Bangladesh (AMTOB) on Tuesday honored disabled freedom fighters and members of martyred freedom fighters by handing over 3G enabled mobile handsets through a function organized by Bangladesh Telecommunication Regulatory Commission (BTRC). Four 3G license acquiring Mobile Network Operators (MNOs) -- Airtel, Banglalink, Grameenphone and Robi Axiata – sponsored a total of 325 mobile handsets with SIM cards. 3g2The 3G enabled handsets were handed over to ...

Time-frame extended by 1 year to revitalise stock market

Bangladesh Bank (BB) extended the time- frame by one year for adjustment of “single borrower exposure limit” by the commercial banks for financing the operations of their brokerage houses and merchant banks. BB’s initiative came as a year-end initiative to revitalise the share market by allowing banks maintain their higher stock market exposure for one more year, which will help maintain a steady demand on the market, reports BSS. bbThe central bank in a circular on Monday said that subsidiaries of banks cr...

Economy remain resilient in 2013: BB

The country’s economy remained resilient in 2013 despite political instability, mainly due to the positive growth of the export, import, remittance and foreign reserve, Bangladesh Bank (BB) disclosed through a press release on Monday. Amidst the ongoing world recession and political instability across the country, the national economy and the banking sector were in positive growth in 2013 except for the third quarter of the year, the central bank claimed, reports the Independent. The positive growth of many economic indicators is still comfortable for the national economy and has also helped the economy remain resilient in 2013, BB said. ...

DBBL opens branch at Dumni in capital

Dutch-Bangla Bank Ltd (DBBL) has opened its 136th Branch at Dumni (Dumni Bazar, Khilkhet, Dhaka) on Monday. KS Tabrez, Managing Director of the bank formally inaugurated the Dumni Branch. A Milad Mahfil on the occasion was held seeking blessings of the Almighty Allah for successful operation of the branch, prosperity of the business community, depositors and stakeholders of the bank. Pic of the eventDutch-Bangla Bank provides a wide range of banking products and finan...
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