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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...

No need to control ICAB thru’ FRC: Barrister Shafique

The Institute of Chartered Accountants of Bangladesh (ICAB) is moving forward to develop the standards of accounting in the country. So, there is no need to form any super functional body to take upper hand over ICAB as the Institute is a professional body, said  Barrister Shafique Ahmed, Advisor to the Prime Minister on Law, Justice and Parliamentary Affairs. He said, we do not find any oversight body to supervise the function of the Supreme Court Bar Association; then why should we need a super functional body to have control over ICAB. Such move is contradictory with the existing law; therefore the proposed Financial Reporting Act cannot be enacted.

GDP growth may decline to 5.65pc: Unnayan Onneshan

The real rate of growth in GDP in the current fiscal year may decline to 5.65 percent against the government’s target of 7.2 percent, predicts Unnayan Onneshan, an independent multidisciplinary think-tank. The research organisation’s half-yearly assessment of the economy, coinciding with the end of the calendar year and the completion of the tenure of the present government, also states that the growth in GDP may fall below the decadal average of six percent due to fiscal and monetary management trap, functioned by lack of policy farsightedness and political contestations. Unnayan-Onnesh... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Cambodian garment workers demand higher wages

The Cambodian worker’s unions are pressing for higher wages and better working conditions, an issue that has been in the spotlight following recent deadly disasters in Bangladeshi factories. Several thousand garment workers pressing for higher compensation joined opposition activists in protests in Cambodia’s capital on Thursday, adding to pressure on Prime Minister Hun Sen. [caption id="attachment_2197" align="alignleft" width="300"]Cambodia May Day Cambodian garmen...

Pak commerce minister to visit India, discuss trade

Pakistan's Minister of State for Commerce Khurram Dastagir Khan will meet Commerce Minister Anand Sharma to review a roadmap for bilateral trade when he travels to India next month for a SAARC business event. The meeting will the first of a few likely to be held in the coming months as the two countries gradually resume their peace process after months of tensions over violations of the ceasefire on the Line of Control. Pak-IndiaKhan will visit India during January 15-17 to attend a SAARC Bu...

Bangladesh key economic indicators – Dec 27

DAILY INDICATORS

Thursday Previous Taka/US $ (inter-bank) 77.75-77.7525 77.75-77.7525 Call money rate (inter-bank) 06.75-08.00 05.75-08.00 Dhaka Stock Exchange index 4,200.96 4,228.91 --------------------------------------------------------------- indicatorMONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Nov. 7.15 7.03 M2 supply (bln taka) (BB) Oct. 6,403.17 6,267.23 Forex reserves ($bln)(BB) Nov. 17.11 17.35 Exports(FOB) ($mln)(BB) Nov. ...
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