Business

Farm loan disbursement posted a 16.03-per cent growth in the first half (July-December) of the current financial year from that in the same period of the FY13 due to a decreased credit demand from the industrial sector. Bangladesh Bank data released on Tuesday, however, showed that 19 banks had disbursed farm loan below 30 per cent ... Read more

Directors’ Shareholding BSEC fines one co, warns 16 others for flouting directive The Bangladesh Securities and Exchange Commission on Tuesday fined a company and warned 16 others for non-obedience with a BSEC directive which asked sponsor-directors of listed companies to hold 2 per cent shares individually and 30 per cent jointly. The capital market regulator ... Read more

New Power Connections Govt plans to scrap condition of solar panel installation The government is planning to scrap the condition of installing rooftop solar panels in residential buildings in city areas for getting power connection following repeated demands of the Real Estate and Housing Association of Bangladesh, state minister for power Nasrul Hamid hinted on ... Read more

Finance minister AMA Muhith on Monday lowered the forecast of growth rate of the country’s gross domestic products to 6.3 per cent in the current fiscal year from the earlier projected 7.2 per cent. The GDP growth rate will be 6.3 per cent in the current fiscal year, he told reporters after a meeting with the ... Read more

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

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

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

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

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

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

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.

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,

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

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

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 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

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

The Dhaka Stock Exchange is going to introduce shariah index today without naming the companies which will be under the index. Internationally recognised rating agency Standard & Poor’s developed the model as per two criteria — one is sector-based and another is accounting-based — as per the Islamic shariah, said DSE president Ahasanul Islam while speaking ... Read more

Income Tax Thru Self Assessment Audits find Tk 3,024cr dodged in 2 yrs, NBR collects Tk 150cr The National Board of Revenue till November last year collected Tk 150 crore out of the Tk 3,024 crore in income taxes which were dodged by taxpayers in 2010-11 and 2011-12 fiscal years and later detected by the ... Read more

Optical Fibre Cables Local makers get import duty waiver on raw materials The National Board of Revenue has exempted country’s optical fibre cable manufacturers from paying duties on import of four types of raw materials required for the industry in a bid to protect local producers from competition with importers of the finished product, NBR ... Read more