Pvt sector credit growth shrinks in FY 12
Import payment falls in last fiscal year
The country’s overall import bill payment fell drastically in the just concluded financial year 2011-12 because of the lower import of food grains, capital machinery and industrial raw materials. Full storyStocks turn positive on bargain hunting
Dhaka stocks returned to the positive zone last week as some institutional investors became active for bargain hunting. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 1.06 per cent... Full storyNBR to reintroduce 15-year tax break for pvt power plants
The National Board of Revenue has sent a proposal to the finance ministry for re-introducing the 15-year tax holiday and tax related facilities for government-approved private power plants that will come into... Full storyLoan growth slows at US banks
Loan growth at banks in the United States slowed in July, the US Federal Reserve said on Friday, snapping a 10-month streak of acceleration. Bankers that spoke to Reuters recently cited a combination... Full storyPakistan slashes interest rate by 1.5pc
Pakistan’s central bank on Friday cut its benchmark interest rate from 12 per cent to 10.5 per cent as it looks to encourage private sector investment. The governor of central State Bank of Pakistan, Yaseen Anwar... Full storyChinese named as new head of WB’s IFC
Chinese investment banker Jin-yong Cai was named Friday as new chief executive of the International Finance Corporation, the World Bank’s rapidly expanding private finance arm. Full storyJanata Bank holds workshop on money laundering
A daylong workshop on ‘Prevention of money laundering and terrorism financing’ organised by Janata Bank was held in Janata Bank Training Institute in Dhaka recently. JBTI director (DMD) Tapon Kumar Ghosh... Full storyILO warns of opposite effect of wage cuts
The International Labour Organisation warned Friday that cutting wages in a bid to boost competitiveness and cut unemployment might turn out to hurt economic growth. The warning was issued after the European Central... Full storyFitch says Spanish banking bailout may not suffice
Fitch Ratings warned Friday that it had doubts about whether Spain’s banking rescue of up to 100 billion euros ($123 billion) will be enough to clear up the mess for good. Eurozone authorities agreed with Spain in June... Full storyCommodity prices gain amid mixed Chinese data
Oil and metals prices mostly rose this week as traders reacted to mixed Chinese economic data and positive figures out the United States, while maize and soya futures jumped on drought conditions. Full storyUS investors optimistic as stocks end week up
US stocks shrugged off mixed corporate results and eurozone worries to hold onto their gains Friday, with the main indexes all ending higher for the week despite little concrete positive news. Full storyGround realities may hurt Chidambaram’s agenda
Asian oil buyers help Iran stave off the worst, for now
Samsung takes on Apple over value of phone features
