Month: January 2014

Income tax collection by the National Board of Revenue in the first half of current fiscal year fell short of the target by Tk 3,432 crore mainly because of slow growth in corporate tax and low collection in advance taxes from different sectors for volatile political situation in the country, officials of the NBR said ... Read more

The central bank has rejected a proposal of finance minister AMA Muhith on giving Probashi Kallayan Bank approval to open exchange houses abroad and allowing it to operate partial commercial banking activities to enable the bank serve the Bangladeshi diaspora. The Bangladesh Bank in its opinion said the

Readymade garment export to the non-traditional markets in the first half of the current financial year soared by 37.27 per cent to $1.36 billion against $996.89 million of the same period of the last financial year 2012-13, Export Promotion Bureau data showed. Terming the export growth encouraging,

Int’l Audit Of Telcos BTRC backtracks on local auditors’ push The Bangladesh Telecommunication Regulatory Commission has recently cancelled its plan to hire international firms for auditing the mobile phone companies following objection from local chartered accountants, said officials. The BTRC called international audit firms in January 2013 to crosscheck various information of six telecom operators —Grameenphone,

Political Unrest Insurers asked to promptly settle claims against damage The Insurance Development and Regulatory Authority has recently asked all the insurance companies to settle clients’ claims promptly as the number of losses increased remarkably due to the ongoing political unrest. IDRA chairman M Shafeque Ahmed made the call on January 9 following allegations of non-cooperation ... Read more

Suggests creation of Tk 203.45cr refinance scheme The government has asked Bangladesh Bank to give bank loans at five per cent interest rate to the owners of tea estates by creating a refinance scheme. BB officials said the government’s move contradicted the central bank’s agriculture and rural credit policy which allows loans at low interest ... Read more

Dhaka stocks rallied for the fourth trading session on Sunday, the opening day of the week, as investors remained optimistic in anticipation of another bubble at the market amid the formation of government by the Awami League-led alliance for a fresh term, market operators said. They also said the market maintained gain with an increased turnover ... Read more

The Dhaka Stock Exchange has formed an enquiry committee to investigate an unusual surge in the price of shares of Meghna Condensed Milk Industries, a DSE web post said. The company is listed under ‘Z’ category which groups low profile securities. In the last one month, the share price of Meghna

Mohammad Masum Kamal Bhuiyan has recently been promoted to executive director of Bangladesh Bank, said a news release. He is now discharging duties in the Bangladesh Bank Chittagong branch. Bhuiyan, who joined Bangladesh Bank as an assistant director in 1984, took part in different courses on banking and finance in home and abroad, the release said.