bKash holds 4 lakh accounts in violation of BB rules

A bKash advertisement is seen at a mobile phone outlet in Dhaka on Sunday. — New Age photo

bKash, a subsidiary company of BRAC Bank, is allegedly doing illegal mobile banking and holding around four lakh customer accounts in violation of rules, Bangladesh Bank officials said. The company, a joint venture between BRAC Bank... Full story

SEC enquiries end in warning letters

Most of the Securities and Exchange Commission’s investigations of brokerage houses have this year ended without any formal enforcement action being taken, the commission’s enforcement data in the first five months of the current year shows. Full story

Santos starts supplying higher price gas to PDB

Santos Sangu Field Ltd on Sunday started supplying 20 million cubic feet of gas daily to a power station of the Power Development Board in Chittagong from its newly drilled Sangu-11 well at $ 4.5 per thousand cubic... Full story

Muhith defends big-deficit budget again

Finance minister Abul Maal Abdul Muhith is seen along with others at a post-budget dialogue at the Nabab Nawab Ali Chowdhury Senate Bhaban in Dhaka University on Sunday. — New Age photo

Finance minister Abul Maal Abdul Muhith on Sunday again defended the proposed budget for the next fiscal year which has a big deficit, claiming that the government would achieve the high targets of GDP growth and revenue earning. Full story

Bangladesh Capital Market Fair begins in London

The Dhaka Stock Exchange president, Rakibur Rahman, has suggested forming a company to raise fund from the capital market for construction of the Padma bridge. Rahman made the statement in London... Full story

NCC Bank re-elects chairmen of audit committee, EC

The board of directors of NCC Bank has recently re-elected its directors Mahbubul Alam Tara as chairman of the audit committee and Fakhrul Anwar as chairman of the executive committee of the board, said a news release Full story

Business chiefs pledge to value earth’s natural assets

Some 39 chief executives of banks, investment funds and insurance firms Saturday pledged at a Rio+20 business forum to integrate the Earth’s natural capital into loans and investments. Full story

Market Disclosures

Jamuna Bank The company has informed that the head office of the company has been shifted to its new address at Hadi Mansion... Full story

'China fund' raises stakes in Japan firms

OD05 Omnibus, an investment fund widely believed to be a Chinese government investment vehicle, has been increasing its stakes in Japanese companies including Toyota and Honda, a report said Sunday. Full story

Fed to meet facing huge stimulus hopes

The plodding US economy, meagre job growth and market tensions over Europe's debt crisis will hang over Federal Reserve policymakers when they meet this week. A recent string of weak data on the economy, from... Full story

Europe doing too little, too late in crisis: WB chief

World Bank president Robert Zoellick speaks at an opening news conference of the spring International Monetary Fund-World Bank meetings in Washington recently. — Reuters photo

European leaders dealing with the sovereign debt crisis have done too little, too late, outgoing World Bank chief Robert Zoellick said, warning that Europe risks losing influence and developing nations now face increasing market uncertainty. Full story