Business

Banks to charge simple interest rate: Kamal

Business Report Finance Minister AHM Mustafa Kamal today said that simple interest rates will be charged on all bank loans instead of present practice of compound rates to lower burden on borrowers. “In the country, there is a practice of charging compound interest rates on bank loans, which is against global practice. Now, simple interest […]

Business

CONFIDENCE EROSION BLAMED

Nose dive in stock market continues Business Report At a time when the economy is performing well, the moribund situation in Dhaka Stock Exchange and in the port city has no proper answers. Political situation is stable now and there is no sign of big trouble that may hit the market after national election. But […]

Business

DR MASHIUR AT THE OPENING OF PADMA BANK

Capital fight takes place when funds not used locally Business Report Prime Minister’s adviser on economic affairs Dr Mashiur Rahman said capital flight is taking place because there is no productive way of putting it in good use. He made the comment last week in the city when opening of the newly launched Padma Bank […]

Business

Per capita income hits $1,909

Business Report The country’s per capita income growing fast with average income level rise at national level. Its per capita gross national income (GNI) shot up more than 9 percent to $1,909 during 2017-18 from $1,751 a year ago, showed official figures released provisionally on Wednesday last. The GNI means all income of a country’s […]

Business

CURRENCY PROBE

Qatar freezes new business for First Abu Dhabi Bank Reuters, Doha Qatar will no longer permit First Abu Dhabi Bank, the largest bank in the United Arab Emirates (UAE), to provide services for new customers in Doha, its regulator said, amid a probe over alleged currency manipulation after the Gulf rift. Qatar’s central bank has […]

Business

CYBER HEIST

RCBC files defamation case against Bangladesh Bank Inquirer, Manila Philippine’s Rizal Commercial Banking Corporation today said that it filed a defamation suit against the central bank of Bangladesh for “baseless allegation” in connection with the $81-million cyber heist three years ago. The case filed with the Regional Trial Court in Makati City of Manila on March 6 […]

Business

INDISCIPLINE IN BANKING SECTOR

Central bank must restrain controversial moves Business Report The banking sector needs immediate reform to save it from major setback. The government is trying to use it at its will to secure big loans for mega projects bypassing the central bank’s regulatory authorities. The finance ministry has set up a committee to review the central […]