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Sonali board turns down BB order to settle disputed IBPs

Sonali Bank board has refused to carry out a Bangladesh Bank instruction to settle its disputed inland bill purchases with other commercial banks on the ground that the IBPs, mostly related to the much talked-about embezzlement by... Full story

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BB may get power to fire state-owned bank MDs

The finance ministry in a move has decided to incorporate a new provision in the proposed bank company act which will empower Bangladesh Bank to remove managing directors of the state-owned banks, said officials. Full story

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General insurers must invest in govt bonds

General insurance companies will have to invest their fund in government securities ranging between 5 per cent and 20 per cent to facilitate in government borrowing, said Bangladesh Bank officials. Full story

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DSE turnover dips to fresh six-month low

Turnover at the Dhaka Stock Exchange dipped to a fresh six-month low on Monday with the key index falling for the second day this week as large-scale investors continued to refrain from trading. DGEN, the benchmark general index of the DSE... Full story

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IDRA fines MDs of two insurance cos

The Insurance Development and Regulatory Authority Bangladesh has fined an insurance company and its managing director and another insurance company’s managing director for negligence in reporting the minutes... Full story

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DSE, BMBA initiate move to activate block accounts

The Dhaka Stock Exchange and Bangladesh Merchant Bankers Association on Monday decided to request the Bangladesh Securities and Exchange Commission to amend the margin rules to activate the block... Full story

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18 PCBs keen to get involved

Eighteen private commercial banks have expressed their willingness to act as a designated bank in Bangladesh to use the proposed Line of Credit of $300 million offered by Turk Exim Bank, Turkey. Full story

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Windows 8 fails to reignite PC market

Holiday season shoppers shunned Windows 8 desktops and notebooks in favor of tablets and smartphones, resulting in a 4.3 per cent fall in PC sales in the fourth quarter, research firm Gartner said on Monday. Full story

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Oil up in Asia on completion of new US pipeline

Oil was up in Asian trade on Monday as a completed US pipeline expansion project reduced oversupplied US inventory stocks, giving oil futures a positive nudge, analysts said. Full story

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Euro surges against dollar on ECB comments

The euro rose against the dollar in Asia on Monday after the European Central Bank chief’s positive comments last week about the beleaguered eurozone’s outlook, analysts said. Full story

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India reaps reward of bumper wheat crops

India is poised to triple wheat exports this year to a higher-than-expected, record 6 million tonnes, helping plug a shortfall in lower-quality grain supplies and keep a lid on global prices. Five years of bumper harvests have created unruly, large... Full story

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Singapore property shares tumble after cooling measures

Shares of major property developers in Singapore were battered Monday after the government introduced new measures at the weekend to cool the real estate market. By the closing bell, shares of top developers listed on the Singapore Exchange... Full story

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Nokia’s results breakthrough buys it time and options

Nokia’s stronger-than-expected quarterly results mean the mobile phone maker now has breathing space and better options to help it claw back a place alongside Samsung and Apple in the smartphone market. Full story

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HTC seeks Myanmar edge with local font phones

Peter Chou, CEO of Taiwan smartphone company HTC Corp, will on Monday launch what he hopes will be a major boost to both a backward tech sector in Myanmar, his country of birth, and to his company’s share of one of the few... Full story

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Teletalk, Robi sign infrastructure sharing deal

Mobile phone operators Teletalk Bangladesh and Robi Axiata have recently signed an infrastructure sharing deal. To this end, Robi managing director Michael Kuehner and Teletalk managing director Mujibur Rahman... Full story

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Vatican denies flaws that led to credit card block

The Vatican insisted on Sunday that it had taken adequate measures to combat money laundering and so could not understand why the Bank of Italy had blocked the use of credit and debit cards inside Vatican City. Full story

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