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MRA moves to cut further microcredit interest rate

The Microcredit Regulatory Authority has taken further move to trim down the rate of interest at which the micro finance institutions are lending money to their clients who are mostly poor. Currently no MFI is allowed to provide loans at more than 27 per cent rate of interest to their clients. Full story

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Banks can invest 40pc of paid-up capital in stocks for 3 years: Muhith

Finance minister Abul Maal Abdul Muhith on Sunday said that the proposed amendment to the bank company act would allow a bank to invest maximum 40 per cent of its paid-up capital in the share market for three years only. Full story

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Most of farmers’ bank accounts still remained inactive in Q1

Majority of the farmers’ accounts which were opened with Tk-10 initial deposit remained inactive in the first quarter of this financial year like the previous financial year as banks did not take initiatives to activate the accounts, said Bangladesh Bank officials. According to the latest BB data, only 1.97 lakh farmers’ bank accounts out of a total 96.09 lakh... Full story

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Dhaka stocks end flat in lacklustre trading

Dhaka stocks ended flat amid volatile trading and decreasing turnover on Sunday as majority of the investors refrained from trading during the countrywide general strike enforced by the opposition allies. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 0.06 per cent or 2.86 points, to close at 4,163.73 points. Full story

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Body formed to resolve dispute in 10 days

A committee, led by the president of the Chittagong Chamber of Commerce and Industry, will be formed soon to resolve the issue of recent labour charge hike in handling export cartons in the inland container depots. Full story

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BB asks JB to intensify loan recovery, streamline allocation

Bangladesh Bank has instructed state-owned Janata Bank to intensify recovery of classified loans and streamline its loan allocation procedures to avoid risks. The JB has also been advised to be more... Full story

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Toyota to suspend new plants for 3yrs

Japan’s Toyota Motor has decided to halt the construction of new factories for the next three years in a shift from its previous policy of building new plants almost annually, reports said Sunday. Full story

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India shortlists Goldman, five others for NTPC share sale

India has shortlisted six banks, including Goldman Sachs, Citigroup and Morgan Stanley, for a selldown of state shares worth $2.3 billion in power producer NTPC, three sources with direct knowledge of the sale said. Full story

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Commodities start year with a bang after fiscal cliff deal

Commodities mostly rallied last week on investor relief as US lawmakers clinched a last-gasp deal to avoid the fiscal cliff of tax hikes and spending cuts in the United States, stoking optimism over demand. Full story

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Pakistan share bounce belies dire straits

Pakistan share prices jumped nearly 50 per cent last year in a staggering development that belies major problems in an economy where falling foreign exchange reserves and turmoil could spell trouble in 2013. Full story

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ECB to ring in New Year with rates on hold

The European Central Bank will usher in 2013 with steady interest rates at its first policy meeting this year to keep up the pressure on governments to solve the debt crisis, analysts predict. Full story

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Egypt committed to IMF talks: finance minister

Egypt is committed to completing negotiations with the International Monetary Fund to secure a $4.8 billion loan, its incoming finance minister said on Sunday, a day before an IMF visit to discuss a deal vital to the country’s economy. Full story

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MyOne Electronics holds dealers’ conference

MyOne Electronics Industries organised a dealers’ conference at the Gold Water Convention Centre in the capital’s Panthapath on Saturday. In the conference, the company set marketing principles considering the... Full story

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Volkswagen to push used car sales in Germany - paper

Volkswagen will expand its business of selling used approved cars in Germany, its head of sales and marketing for passenger cars told industry publication Automobilwoche. Full story

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