Govt H1 borrowing from scheduled banks soars

A file photo shows clients queuing up in front of a private bank in Dhaka. The government borrowing from the commercial banks soared in the first six months of the current fiscal year. — New Age photo

The government borrowing from the commercial banks soared in the first half of the current fiscal year, although the overall borrowing decreased compared with that of the same period of the last fiscal year on a decreased borrowing from the... Full story

Import slump sends reserve to record $13b

The country’s foreign exchange reserve on Monday crossed $13-billion mark for the first time due mainly to a slump in imports in the last few months, Bangladesh Bank’s dollar buying spree and increasing remittance inflow. Full story

Honda motorcycle assembling in Bangladesh delayed

A file photo shows Honda motorcycles. — Reuters photo

Motorcycle assembled in Bangladesh by Honda Motor Company, Japan’s biggest motorcycle manufacturer, is not going to hit the market any time soon as the assembling will be delayed further for at least three to six months, officials of the... Full story

Dhaka stocks fall on Muhith’s ‘negative’ remark

Dhaka stocks fell on Monday with the turnover hitting nearly a six-month low on the back of the finance minister’s remark that the market was dominated by speculators. DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.88 per cent... Full story

Sylhet cane furniture traders in dire straits

A photo shows workers busy making cane furniture at a factory in Sylhet. — New Age photo

Cane furniture business in Sylhet is going at a low ebb now as most of the manufacturers are being forced to shrink their production due to shortage of cane as well as its high price. Market sources said furniture made of locally produced cane had always... Full story

Dollar mixed in Asian trade after last week’s surge

The dollar was mixed in Asia Monday, after the unit last week surged to its highest level against the Japanese yen in more than two years following positive jobs data and a deal on the fiscal cliff. Full story

MARKET DISCLOSURES

Quasem Drycells The company has informed that it has credited the bonus shares for the year ended on June 30, 2012 to the respective shareholders' BO accounts on January 6, 2013. Full story

Global regulators ease key bank rule to spur credit

Global regulators on Sunday gave banks four more years and greater flexibility to build up cash buffers so that they could use some of their reserves to help struggling economies grow. Full story

Fiscal crisis seen hurting tech earnings

Warning to investors: major US technology companies could miss estimates for fourth-quarter earnings as ‘fiscal cliff’ worries likely led some corporate clients to tighten their belts last month and refrain from... Full story

Iran oil exports down 40pc in 9 months

Iran’s oil exports have been slashed 40 per cent in the past nine months because of tough Western sanctions, oil minister Rostam Qasemi was quoted as saying on Monday, in a reversal of his previous... Full story

Vivek Sood joins as GP CEO

Vivek Sood on Monday took charge as the chief executive officer of Grameenphone. Sood, an Indian national, replaced former CEO Tore Johnsen after the GP board of directors approved the appointment on December 19. He is the first non-Norwegian... Full story

India panel for up to 50pc cut in CDMA base price

An Empowered Group of Ministers has recommended a cut of up to 50 per cent in the auction reserve price for airwaves used by phone carriers operating on the CDMA platform, raising the odds for the local... Full story