Tax Cut On Rmg Exports Govt to lose Tk 2,000cr in revenue in 18 months Reduction of tax at source on export of clothing items to 0.30 per cent from the existing 0.80 per cent will cost at least Tk 2,000 crore in revenue as the government has offered the benefit for one and half ... Read more
Month: January 2014
Import payment jumped before national polls
The country’s import increased by 20.05 per cent in December last year ahead of the national elections held on January 5 this year compared with that of 2.30 per cent growth in the corresponding month of 2012. According to the Bangladesh Bank data, the overall settlement of letters of credit, generally known as actual import, stood ... Read more
Agencies charge higher than they appraised ministry
348 Cleaners’ Job In Saudi Arabia Agencies charge higher than they appraised ministry Although the recruiting agencies have appraised the expatriate welfare and overseas employment ministry of arranging jobs for 348 cleaners in Saudi Arabia with a migration cost of Tk 17,400 for each they were found charging the workers almost double the cost they ... Read more
Govt plans to float business council
Tofail to share idea with top businesses today The government has planned to float a strong platform soon along with top business leaders in an effort to help businesses overcome the challenges for maintaining an ‘impressive’ track record on economic growth and development. Commerce minister Tofail Ahmed is moving ahead with the idea to ensure a ... Read more
BB announces Jan-June MPS on Jan 27
Bangladesh Bank will announce its monetary policy statement for the first six month of 2014 on January 27, said officials of the central bank. They said the BB would keep unchanged the private sector credit growth target in the monetary policy considering political unrest. Under the
Dhaka stocks inch down after 8-day bull run
Shariah index dips on debut Dhaka stocks inched down on Monday, breaking an eight-day gaining streak, after the central bank directed banks not to show their interest suspense as income after rescheduling the defaulted loans. Market operators said investors offloaded bank shares as the net profit of the listed banks would decline after the deduction of ... Read more
Swiss bank explores investment potential in B’desh stocks
Top officials of PICTET, a Swiss private bank, have explored the investment potential in the country’s stock market. PICTET senior vice-president Daniel Faes and senior trader emerging markets Francisco Pozza on Sunday held separate meetings with officials of the Bangladesh Securities and Exchange Commission and the Dhaka Stock Exchange in this regard.
Bourses again press for tax exemption
Demutualisation Bourses again press for tax exemption The Dhaka and Chittagong stock exchanges again pressed their demand for tax exemption for the demutualised bourses to the National Board of Revenue. The bourses iterated their demand in a meeting held at NBR headquarters in the capital on Monday presided over by revenue board member SM Aminul Karim,
BASIS unveils new logo
The Bangladesh Association of Software and Information Services unveiled its new logo on Monday. The new logo features three triangles moving forward which the BASIS said indicated advancement in internet service, software export and employment in the coming days. ICT minister Junaid Ahmed attended the logo unveiling programme held at the BASIS auditorium
Asad Day today
The 45th anniversary of embracing martyrdom by Asaduzzaman in the 1969 mass upsurge against the Ayub regime will be observed today. Asad’s supreme sacrifice ignited the struggle of Bengalis for self-rule which eventually led the nation to the war of independence. On January 20, 1969,
Capital to get facelift ahead of T-20
The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 115 crore fund for spending on city infrastructure development and beautification of the capital ahead of the T-20 World Cup scheduled for March this year. The approval came at the first ECNEC meeting of the new government held at the NEC conference ... Read more
Rahman deals with nature and reality
Italy based Bangladeshi artist A Rahman depicts elements of nature on his abstract and semi-abstract artworks, which are on display at his solo show at the Bengal Shilpalaya in Dhanmondi. The exhibition titled Gravity-Free World features 62 paintings and sketches in different mediums including mixed media, digital print and pencil sketches that depict the spirit ... Read more
Marshal makes his case
Facing fierce competition at the top of the Tigers’ Test line-up, Marshal Ayub made his case to stay in the number three hole he occupied against New Zealand. Marshal hit an unbeaten century on day two of the Bangladesh Premier League’s second round of matches at the BKSP on Sunday, providing a timely
Morrison inspires Abahani win
Abahani Limited got the better of archrivals Mohammedan Sporting Club in the first meeting between the two sides in the 7th Bangladesh Premier Football League as the Sky Blues registered a 1-0 victory on Sunday. Ghanaian marksman Osei Morrison bagged the all-important goal in the 17th minute at the Bangabandhu National Stadium. The Black and Whites
Gladiators question Pont being spared
The Dhaka Gladiators’ lawyer questioned the authority of the International Cricket Council to investigate the Bangladesh Premier League match-fixing scandal and alleged that their foreign players and coach were spared discriminatorily. ‘The documents that were made available to us, they show coach Ian Pont was aware of everything and he had accepted $6,000 for it,’
Siddik qualifies for Eurasia Cup
Despite a lowly 26th-placed finish in the King’s Cup, Bangladesh golfer Siddikur Rahman had reasons to feel cheerful as he received an automatic entry to the prestigious Eurasia Cup. Siddik’s position of 26th in the Asian Tour’s season-ending tournament saw him drop a place from third to fourth in the Asian Tour’s Order of Merit.
BTMA against SKS proposal to set up cotton trading hub
Says the initiative could create monopoly in trade The Bangladesh Textile Mills Association has expressed its stand against a proposal made by Sena Kalyan Sangstha for setting up a cotton trading hub in the country, officials of the National Board of Revenue said. The BTMA has informed the revenue board that it is against the move ... Read more
Apply law equally to owners, workers
Demand garment sector labour leaders Garment sector labour leaders on Sunday demanded that the law must be applied equally to owners and workers to ensure sound industrial relation in the sector. In a meeting with state minister for labour and employment Mujibul Haque Chunnu at secretariat, the labour leaders alleged that a large number of
Power Div misses ADP spending target in H1
Power Division missed its annual development programme implementation target for the first six months of the current fiscal year, the division’s data released on Sunday showed. In July-December of the FY 2013-2014, development projects implementing agencies in the power sector implemented 23.92 per cent of the ADP against
Scheduled banks asked not to show interest suspense as income
Bangladesh Bank has asked scheduled banks not to show their interest suspense and charged unrealised interest as income after rescheduling the defaulted loans. Interest suspense is a separate account that every bank has to maintain when the loan turns into a defaulting condition. The BB on Thursday issued