Sluggish large projects send Q1 ADP spending to 5yr low

October 30, 2014

The implementation rate of annual development programme hit its five-year low in the first quarter of this fiscal year as only 9 per cent of the total allocation was used in the July-September period. According to the data of the Implementation Monitoring and Evaluation Division of the planning ministry, 55 government ministries and divisions could spend only Tk 7,024 crore of Read more

BSEC bars cos from using more than one-third of IPO fund

October 30, 2014

Repayment Of Bank Loans
BSEC bars cos from using more than one-third of IPO fund
The Bangladesh Securities and Exchange Commission on Wednesday barred any company from using more than one-third of its initial public offering money for repayment of bank loans.
The capital market regulator decided to impose the condition in a regular commission meeting presided over by its chairman M Khairul Hossain, a BSEC news Read more

B’desh demoted in WB’s doing business index

October 30, 2014

Ranks 173th out of 189 countries
Bangladesh has been ranked at 173th position, downgrading by three notches, among 189 countries in the World Bank group’s latest global ranking on the ease of doing business, according to a report of the lender released on Wednesday. The country performed woefully in almost all of the sub sectors of doing business index, showed the Doing Business 2015 report. Although Bangladesh Read more

Tax collection rises by 16pc in July-Sept

October 30, 2014

Revenue collection grew by 16 per cent to Tk 28,220 crore in the first three months of the current fiscal year 2014-15 due to increased receipts in September.
The National Board of Revenue had collected Tk 24,354 crore in the same period of the last fiscal year, according to NBR data. ‘The improvement in collection Read more

FSIBL rights offer, Zaheen IPO okayed

October 30, 2014

Issuance of bonds worth Tk 1,000cr by 4 banks also approved
The Bangladesh Securities and Exchange Commission on Wednesday allowed two entities to raise capital worth Tk 217.72 crore and four banks to float non-convertible bonds worth Tk 1,000 crore.
As per the BSEC approval, First Security Islami Bank will issue one rights shares against its existing two shares at an issue price of Tk 10 each, a BSEC news release Read more

BSEC fines Shahjibazar bosses Tk 55 lakh for fabricated reports

October 30, 2014

United Power, audit firm, asset manager fined for IPO doc fabrication
The Bangladesh Securities and Exchange Commission on Wednesday slapped Tk 55 lakh fines on Shahjibazar Power Company’s five directors and managing director on charge of providing fabricated financial statements. The commission, in a separate decision, also fined United Power Generation and Distribution Company, its issue manager and an auditor on the same ground by Read more

Stocks fall for second day on Nizami verdict, GP profit drop

October 30, 2014

Dhaka stocks declined for the second trading session on Wednesday amid investors’ increased share selling as they were apprehending violent agitation by the Jamaat following a court verdict on Jamaat chief Matiur Rahman Nizami on war crimes charges.
On the other hand, decline in quarterly earning of Grameenphone, Read more

Selectors plan support for Mushfiq

October 29, 2014

Selectors are weighing their options to provide support for batting stalwart Mushfiqur Rahim who is often seen running out of partners in Test matches. Mushfiq is considered as one of Tigers main contributor in their batting line-up and lived up to his expectation to remain unbeaten on 23 runs during their fourth innings chase against Zimbabwe in the first Test match. But he was in Read more

BCB XI lose despite Imrul’s ton

October 29, 2014

Opener Imrul Kayes scored a century but it was not enough to stave off their second consecutive defeat for the Bangladesh Cricket Board XI in Acharya Memorial Challenger Trophy in Kolkata on Tuesday. The BCB XI lost to Karnataka XI by five wickets despite Imrul’s 100 off 104 balls featuring nine fours and three sixes propelling them to 260-9 in their stipulated 50 overs. Out of form Read more

‘Tigers can beat anyone at home’

October 29, 2014

Bangladesh can beat anyone at home as they now have an even deadlier spin combination than before to extract maximum advantage, Zimbabwean coach Stephen Mangongo opined on Tuesday. The Tigers beat Zimbabwe by three wickets within three days as left-arm spinner Taijul Islam grabbed a record 8-39 in the second innings to set up a paltry 101-run target for the batsmen. Read more

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