Shy away from non-compliant ones International buyers of Bangladesh garment products have increased their orders with compliant factories but reduced placing orders with many factories with faulty infrastructures after the Rana Plaza disaster, said exporters. ‘Buyers have become choosier in selecting the
Month: July 2013
NBR likely to audit GP’s tax dodging case
The National Board of Revenue is likely to conduct an inspection into Grameenphone’s documents as the company allegedly dodged tax worth Tk 1,580 crore by replacing 1.35 crore SIMs between 2007 and 2011, violating the law, officials concerned said. NBR officials said the leading mobile operator failed
Mutual funds allowed to issue stock dividends
The Bangladesh Securities and Exchange Commission on Wednesday approved the amendment to Section 66 of the Mutual Fund Rules-2001 which will allow all the mutual funds to issue stock dividends to its unit holders for re-investment. A commission meeting presided over by its chairman
BTC selects 365 items for cutting from sensitive list
Bangladesh Tariff Commission has primarily selected a list of 365 products for excluding them from the country’s sensitive list under the South Asian Free Trade Area agreement, officials said. The draft list has been prepared considering total duty incidence of the products, amount of revenue that comes as import duty from the SAARC countries from
British tycoon blasted for refusal to sign Bangladesh safety deal
Philip Green’s clothing empire has been criticised for shunning a new initiative aimed at improving safety standards at Bangladeshi clothing manufacturers in the wake of the Rana Plaza disaster in April, reports Guardian. The tycoon’s brands, which include TopShop, BHS and
BSEC investigating market fall, unusual price hike of few stocks
Bangladesh Securities and Exchange Commission on Wednesday said it was investigating unusual price hike of shares of some companies and four-day sharp fall of the market. ‘We formed committees to investigate JMI Syringes and Medical Devices, Summit Purbanchal Power Plant, CVO Petrochemicals and AlHaj Textiles Ltd in
Dhaka stocks ride on mutual funds news
Dhaka stocks bounced back on Wednesday after five straight sessions in the red as Bangladesh Securities and Exchange Commission on the day finally allowed all the mutual funds to issue stock dividends for its unit holders as re-investment, which boosted the investors’ confidence. The benchmark general index of the Dhaka Stock Exchange,
NBFIs asked to publish financial statements in newspapers
Bangladesh Bank has asked non-bank financial institutions to publish their financial statements in one Bangla and one English newspaper on a mandatory basis. To this end, the BB issued a circular on Tuesday to managing directors and chief executive officers of all NBFIs saying that the central bank had observed that some
3G auction to be held on time: BTRC chairman
The Bangladesh Telecommunication Regulatory Commission is determined to hold the auction of ‘3G’ or Third Generation cellular phone services on September 2 as scheduled, as it has already been deferred twice for the convenience of the operators, said a top official of the regulator. He hinted they would open the mobile broadband
3 out of 4 BIWTC vessels out of order before Eid
As three out of four vessels of the long route rocket steamer service of the Bangladesh Water Transport Corporation have remained out of order, seriously threatening the service as Eid draws near. Meanwhile, the sea-truck service on the Barisal-Laxmipur route has also remained disrupted after the only vessel of the route went out of order ... Read more
Tailors passing hectic days
Tailors are passing hectic days as orders pours in ahead of the Eid festival. Though some tailors have already stopped taking new orders for Eid, people were seen to gather at tailors and fabrics shops on Wednesday to order dresses for their Eid celebrations. Despite huge availability of readymade garments,
Railway, BRTC to launch special Eid service
The Bangladesh Railway and the Bangladesh Road Transport Corporation are going to launch special services for the coming Eid-ul-Fitr, officials have said. A senior railway officer told New Age on Wednesday that about seven-pair special inter-city trains would run during Eid holidays on different routes including
RMCH interns withdraw strike
Interns of Rangpur Medical College and Hospital withdrew their indefinite strike on Wednesday noon being assured by the authorities of meeting their demands. The interns went on strike in the hospital demanding payment of their monthly allowance regularly. They brought out a procession in the hospital compound
Human chain protests at construction of Rampal power plant
Left-leaning political leaders on Wednesday urged the government to cancel the project of setting up the 1,320 megawatt coal-based power plant at Rampal, which they said would affect the biodiversity of Sundarban. The Barisal district unit of United Communist League
JICA nominates teacher for JU language centre
The Japan International Co-operative Agency on Wednesday nominated a teacher for Jahangirnagar University language centre. Takashi Ykoda, representatives of JICA in Dhaka, introduced the teacher, Takada Mayu, to the university vice-chancellor Professor Anwar Hossain at his residence later.
Change in temperature unlikely
Light to moderate rain or thundershowers accompanied by temporary gusty wind is likely to occur at many places over Khulna, Barisal, Chittagong, Dhaka and Sylhet divisions and at a few places over Rajshahi and Rangpur divisions till 6:00pm today. Moderately heavy falls are also likely at places,
Rice production falls 6 lakh tonnes short of target
3.38 crore tonnes produced in 2012-2013 About 3.38 crore tonnes of rice were produced in the country this year against the government target of 3.44 crore tonnes for the 2012-13 crop year that ended in June. The target of production of aus, aman and boro rice could not be achieved mainly due to less acreage ... Read more
Farm loan target set at Tk 14,595cr
BB declares new agri loan policy Bangladesh Bank on Tuesday unveiled the agriculture and rural credit policy and programme for the current financial year 2013–14 focusing on some environment-friendly new sectors of the country’s agriculture zone. BB governor Atiur Rahman unveiled the new farm loan
Stocks keep plunging as panic spread
Investors demonstrate Dhaka stocks plunged on Tuesday to make it five straight sessions in the red as the investors, panicked by the recent decline in shares prices, went for sell-offs. A section of investors on the day staged a demonstration in front of the Bangladesh Securities and Exchange Commission demanding government initiatives to revive the ... Read more
Mobile cos show little interest in ADR
SIM REPLACEMENT TAX Mobile cos show little interest in ADR Mobile phone operators have shown a little interest in adopting alternative dispute resolution mechanism offered by the National Board of Revenue to settle dispute over SIM replacement tax worth Tk 3,100 crore which is pending for more than one-and-a-half years. Leaders of the Association of ... Read more