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80 lakh bank accounts of farmers remain inactive

Around 80 lakh farmers’ bank accounts out of a total 95.86 lakh, which were opened with Tk 10 initial deposit, remained inactive in the just concluded financial year of 2011-12, according to Bangladesh Bank data. Among the 16 lakh active farmers’... Full story

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JS panel snubs BTCL for poor performance

The Jatiya Sangsad panel on telecommunications ministry on Wednesday snubbed the state-owned telephone company which was turned into a public limited entity in 2008 for its poor performance. Full story

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Stocks fall further on fear over merchant bank vulnerability

Dhaka stocks fell for the third day on Wednesday as investors became dejected after the merchant bankers demanded Tk 900 crore from the Bangladesh Bank to provide compensation to small investors. Full story

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Income tax fair in 19 old districts in mid-September

The National Board of Revenue will organise an income tax fair, the third of its kind in the country, in 19 districts by mid-September to motivate eligible persons to pay income tax, a high NBR official told New Age on Wednesday. Full story

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India allows investment from Pakistan

India on Wednesday overturned its ban on foreign investment from Pakistan in a move designed to build goodwill amid a renewed push for a peace settlement between the nuclear-armed neighbours. Full story

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BKMEA seeks one-time loan support before Eid

Bangladesh Knitwear Manufacturers and Exporters Association leaders on Wednesday urged the Bangladesh Bank to provide one-time loan support on the basis of bank-owner relations if any owner faces cash crisis before Eid. Full story

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SIBL files suit against 3 Jeddah-based entities

Social Islami Bank has recently filed suit against three Jeddah-based entities — International Islamic Relief Organisation, Islamic Charitable Society and Shahir AR Battarjee. Social Islami Bank filed suit in the court... Full story

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WB offers grants, debt help for Myanmar

The World Bank on Wednesday pledged $85 million in development grants to Myanmar and assistance for the former pariah state to clear its arrears as part of efforts to support political reforms. Full story

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Euro inches down in Asia

The euro slipped against other currencies in Asian trade Wednesday as the market waited for the result of the US Federal Reserve’s two-day policy meeting and European Central Bank talks. Full story

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Market Disclosures

NCCBL Mutual Fund-1As per un-audited half-yearly accounts as on 30.06.12, the fund has reported net profit of Tk 43.96 million with earning per unit of Tk 0.44. Full story

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Crude down in Asia as hopes for Fed, ECB stimulus fade

Crude markets fell in Asia Wednesday as fading hopes for additional stimulus measures from the US Federal Reserve and European Central Bank led prices down, analysts said. Full story

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Asian factories sputter as Europe sinks

Eurozone manufacturing took another turn for the worse last month as output plummeted, hammering home the scale of the region’s economic crisis which also depressed export orders from factories in China and India. Full story

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US raises pressure for eurozone crisis action

The United States raised pressure on eurozone leaders to take decisive action to solve the region’s debt crisis, notably by lowering troubled members’ borrowing costs, on the eve of a crucial European Central Bank meeting. Full story

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Telenor deepens row with Unitech over asset sale

Mobile phone networks operator Telenor moved a step closer to pushing out its joint venture partner in India on Wednesday, with a view to rebuilding the business after the loss of its radio frequency operating licences. Full story

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StanChart posts record H1 net profit

Standard Chartered on Wednesday said its first-half net profit rose 12 per cent to a record high thanks to strong revenue growth, despite an increasingly challenged economic environment. Full story

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