Economy - Premier News Syndicate Limited (PNS)

Economy

Bangladesh Bank removes Farmers Bank’s MD

  

Pns: Bangladesh Bank (BB) has removed the Farmers Bank Managing Director AKM Shameem on charges of negligence of duty.Bangladesh Bank’s executive director Shubhankar Saha confirmed the matter to Banglanews on Tuesday (December 19).He said that the latter has been sent to authorities of Farmers Bank and bank authorities confirmed that they had received it.Earlier on November 27, former Home Minister Dr Mohiuddin Khan Alamgir resigned as the bank's chairman.PNS/AA

Farmers Bank Chairman MK Alamgir resigns

  

Pns: Muhiuddin Khan Alamgir has resigned as chairman of troubled Farmers Bank Limited. The bank's Audit Committee Chairman Md Mahabubul Haque Chisty also stepped down from the board.A statement sent by Bangladesh Bank on Monday revealed the news.In the statement, the BB said the restructuring of the board would help the Farmers Bank restore confidence of the depositors who have been withdrawing funds due to its deteriorating financial health.The central bank asked the two...

Rice prices now normal: Minister Tofail

  

Pns: Commerce Minister Tofail Ahmed has said the price of rice in markets are now ‘normal’ amid some fluctuations at times.The minister told the parliament on Sunday that the coarse rice in the market was being sold at Tk 40 per kg while the fine varieties are priced around Tk. 56 on average.Dhaka kitchen markets are selling the rice at Tk.42 to Tk.65 for the coarse to fine varieties, according to the TCB price chart.Due to devastating floods and natural disasters, the price of...

Project nightmare

  

Pns: The government is incurring a loss of around Tk 5.65 crore every month as a 14-month project to reopen the country's lone state-owned chemical factory could not be implemented in more than four years.The loss has been nearly Tk 82 crore since May last year, when the Tk 115 crore project to restart Chittagong Chemical Complex (CCC) in Sitakunda was extended for the second time.Worse still, no light could be seen at the end of the tunnel as yet, thanks to a Chinese company's...

No crisis for sacrificial animals in Eid-ul-Azha: Minister

  

Pns: There will be no crisis of sacrificial cattle during the Eid-ul-Azha this year and the ongoing floods will not have any negative impact on the cattle markets in the country, said State Minister of Fisheries and Livestock Narayan Chandra Chanda. "Around 1.10 or 1.15 crore animals are expected to be sacrificed in the coming Eid-ul-Azha and there are 1,15,57,000 sacrificial animals, including 47 lakh cows, in the country."So there will be no crisis of sacrificial animals this...

Arab states expected to impose more sanctions on Qatar

  

Pns: Saudi Arabia, Egypt, the United Arab Emirates (UAE) and Bahrain are expected to discuss imposing new economic sanctions on Qatar when they meet in the Bahraini capital Manama on Sunday, the pan-Arab al-Hayat newspaper reported. The four Arab states cut ties with Qatar on June 5, accusing it of backing terrorist groups and cozying up to their arch-foe Iran, allegations Doha denies.Foreign ministers of the four countries “are expected to impose sanctions that will gradually affect the...

Both DSE, CSE up at opening

  

Pns: Share price index at the country's both bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- witnessed positive trend as market opened on Thursday, the last trading day of the week. After first one hour of trading, DSEX, the prime index of the DSE, went up by 3.03 points while CSCX, Selective Category Index of the port city's bourse, gained 27.58 points. The DSE benchmark index, DSEX gained 3.03 points or 0.05 percent to reach 5,827.46 at about...

Asian shares mostly lower as attention turns to Fed meeting

  

Pns: Asian shares mostly slid Monday, with Chinese benchmarks countering the trend, as market attention turns to the U.S. Federal Reserve meeting later in the week.Japanese shares languished as the yen strengthened against the dollar. KEEPING SCORE: Japan's benchmark Nikkei 225 lost 0.9 percent in morning trading to 19,927.65. Australia's S&P/ASX 200 was down 0.8 percent to 5,680.00. South Korea's Kospi dipped 0.2 percent to 2,445.91. Hong Kong's Hang Seng added 0.5 percent to...

US-China trade rifts resurface as the 2 sides begin meeting

  

Pns: Cake and conversation, it seems, can go only so far to mend longstanding economic rifts between the United States and China. Three months after President Donald Trump and his Chinese counterpart, Xi Jinping, shared chocolate cake at an amiable summit in Florida, tensions between the world's two biggest economies are flaring again. As officials of the two sides began meeting Wednesday, Chinese Vice Premier Wang Yang said the two countries depend on each other economically and...

Dollar changes hands in upper 112 yen zone in early trade in Tokyo

  

Pns: The U.S. dollar changed hands in the upper 112 yen zone in early deals in Tokyo on Tuesday, largely in line with levels seen overnight in New York, Xinhua reports. As markets opened in Tokyo, the dollar was quoted at 112.60-61 yen compared with 112.58-68 yen in New York at 5 p.m.Monday. The euro, meanwhile, fetched 1.1474-1474 dollars and 129.20-24 yen against 1.1473-1483 dollars and 129.23-33 yen in late Monday afternoon trade in New York. Markets in Tokyo were closed on...

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