Month: April 2014

Unethical practice to destabilise money market: BB reports Some banks are investing in long-term government securities by receiving short-term loans from the call money and Repo markets in a bid to earn high profit, violating banking ethics, according to Bangladesh Bank inspection reports. BB officials said the banks received loans from the call money market with ... Read more

The government in collaboration with the International Labour Organisation has taken a move to formulate an inspection policy for the factories and establishments to upgrade the current traditional inspection system to an international standard. The policy will ensure modern, effective and prevention-oriented labour inspection and occupational safety and

The overall point-to-point inflation increased by 0.04 percentage points to 7.48 per cent in March after one month amid a hike in food items for the second month. The food inflation rose by 0.13 percentage point to 8.96 per cent in March which rose by 0.03 percentage points to 8.84 per cent in February.

Finance minister AMA Muhith on Sunday said inflation would be targeted at 6 per cent in the new fiscal year that will begin from next July. The projected inflation will be 6 per cent in 2014-15, he said during a meeting with the representatives of the non-government organisations

The government’s tax collection from the Dhaka Stock Exchange dropped by 25 per cent in March compared with the previous month due to fall in turnover followed by institutional investors’ less participation on the trading floor. In March, the country’s prime bourse paid Tk 10.74 crore in tax which was Tk 14.37 crore in the previous ... Read more

Factory Inspection Production at 4 risky Ctg units suspended Authorities suspended production at four garment factories in the Chittagong port city on Saturday following the detection of ‘serious structural flaws’ in a five-storey building, which housed the factories, by European retailers’ inspection teams. At least 2,700 workers of the factories are in danger of losing their ... Read more

Let taxpayers know how their money being used, say experts Transparency International Bangladesh executive director Iftekharuzzaman on Saturday said that the rich and companies usually evaded Tk 20,000-Tk 25,000 crore in taxes every year and most of the large companies in the country were accused of evading taxes. At a seminar on ‘unveiling tax, tackling poverty ... Read more

The Bangladesh Securities and Exchange Commission has decided that it will allow companies to issue cash dividend before get listed with the stock exchanges once they get approval for their initial public offerings, said high officials of the BSEC. As per a condition under the BSEC’s special power, no company is allowed to issue any short ... Read more

Biman Bangladesh Airlines has sought exemption to the National Board of Revenue from paying minimum income tax for ensuring existence of the state-owned company in stiff international competition, Biman officials said. They said that Biman sought the exemption as a support from the revenue board for its survival as the national flag carrier already became

Dhaka stocks returned to positive zone last week after declining for the last five weeks with significant rising turnover riding on better quarterly earning expectations of large capitalised company shares and bargain hunting. The key index of Dhaka Stock Exchange, DSEX, increased to 4,621.23 points over the week, adding 2.51 per cent or 113.17 points.