HOME  BUSINESS

Cash-strapped SCBs depend on call money market

The state-owned commercial banks continued to borrow from the call money market in the first three months of the current year as they are facing acute liquidity crisis, said Bangladesh Bank officials. Full story

---

Yarn market to become volatile if India cotton ban persists: spinners

Textile millers on Saturday feared that the yarn market might become volatile if India did not withdraw a ban on cotton export soon. Bangladesh formally requested India in the past week... Full story

---

Bourses to advance trading hours by 30 minutes

The Dhaka and the Chittagong stock exchanges on Saturday decided to reschedule trading hours to 10:30am-2:30pm. At present the trading at the bourses starts at 11:00am and ends at 3:00pm. Full story

---

Dhaka stocks rally for third week

Dhaka stocks ended up last week gaining for three weeks in a row as the retail and the foreign investors continued to inject fresh funds into the market. In the week to Thursday, DGEN, the benchmark general... Full story

---

Lack of proper connectivity with Nepal hurting trade: Quader

Commerce minister GM Quader on Saturday said lack of proper connectivity with Nepal is hurting trade and tourism, and emphasised that establishment of connectivity through India can turn Bangladesh... Full story

---

Unitech seeks to restrain Telenor from new India JV

Unitech Ltd has said it has applied to a local court seeking to restrain Norway’s Telenor from investing in any new telecoms venture in India that would compete with companies’ existing joint venture. Full story

---

Sonali Bank gets two new DMDs

Sonali Bank has recently got two new deputy managing directors of the bank. They are Md Khurshed Hossain and Md Dilwar Hossain Bhuyan, said a news release. Full story

---

BDBL gets new DMD

Dina Ahsan, general manager of Investment Corporation of Bangladesh, has recently joined Bangladesh Development Bank as deputy managing director, said a news release. Full story

---

Yahoo layoffs to begin next week: report

Yahoo Inc will begin layoffs of thousands of employees next week and will announce a plan to restructure the company the week after that, according to a media report. Yahoo declined to comment. Full story

---

Commodity prices fall as US eyes more stimulus

Commodity prices mainly fell over the week despite the prospect of further US stimulus, while benchmark oil futures were dragged down by easing concerns over stretched supplies. Full story

---

US stocks rack up giant quarter

US stocks closed out their best quarter in years Friday with record point-gains in the period for the S&P 500 and the Dow blue chips. After another positive week confirming the first quarter’s bull run... Full story

---

Eurozone agrees to boost rescue capacity

Eurozone finance ministers agreed on Friday to increase their financial firewall to 700 billion euros to ward off a new flare-up of Europe’s sovereign debt crisis, drawing a positive initial reaction from G20... Full story

---

India’s balance of payment slips into red

India’s balance of payments slipped into negative territory for the first time in three years as expected in the three months through December on shrinking dollar inflows, while the country’s current account deficit... Full story

---

Moody’s bank review may mark new era of lower ratings

The largest US banks including Morgan Stanley, Bank of America and Citigroup are facing what could be a historic shift to lower credit ratings which could increase their cost of funding and reduce competitiveness... Full story

---

Obama calls for higher tax rates for rich Americans

US president Barack Obama called Saturday for higher tax rates on wealthy Americans, saying the current system of tax breaks for top income earners was unfair. Full story

---