Business

Vandalism, shutdowns major hindrances to collection The revenue board risks falling short of Tk 10,000 crore to Tk 13,000 crore from its revenue collection target set for the current fiscal year if the prevailing business situation does not improve and normalcy returns to power the economy. The gloomy outlook on revenue earnings for whole of 2013-14 ... Read more

3,500 Used Cars Government issues SRO giving undue tax benefit The government, retreating from its previous stance, on Wednesday allowed 45 per cent depreciation benefit instead of 35 per cent for around 3,500 reconditioned cars imported before June, bowing down to pressures from the importers, officials of the National Board of Revenue said. The Internal ... Read more

Bangladesh Bank on Wednesday introduced a base rate monitoring system for non-bank financial institutions so that they could offer a reasonable interest rate of their different products to the clients. BB governor Atiur Rahman introduced the new monitoring system at a ceremony held at the central bank headquarters in the capital in presence of top officials ... Read more

Rupsha Tank Terminal and Refinery Ltd plans to set up an LPG bottling plant in the Mongla port area at a cost of around Tk 96 crore to popularise the use of liquid petroleum gas in households. The company has already leased lands, constructed buildings and jetties and is now waiting to get a go-ahead ... Read more

To procure 2 lakh tonnes of rice The government on Wednesday decided to procure two lakh tonnes of aman rice from the local market in the current season at Tk 30 a kilogram. The decision was taken at a meeting of the food planning and monitoring committee at the food ministry conference room in the ... Read more

The Bangladesh Telecommunication Regulatory Commission has recently asked the international gateway operators to submit performance bank guarantee amounting not less than Tk 7.5 crore in line with latest changes in the relevant rules. The operators have to submit performance bank guarantee according to a given format by November 30 and

Capital Market Refinance Scheme Application time for loans likely to be extended The supervision committee for the capital market refinance scheme of Tk 900 crore for the effected small investors is likely to extend the timeframe to apply for the loans as almost all the merchant banks and brokers refrained them from applying within the ... Read more

A high-profile delegation from New York City is due in Bangladesh on Friday to gather the latest on-the-ground information on the progress made towards the improvement of factory safety since the Rana Plaza collapse. The American contingent plans to meet survivors of the building collapse, officials of the Swedish retail giant H&M and labour leaders

Dhaka stocks inched down in volatile trading on Wednesday with a decline in the turnover despite support from the state-owned institutions as the current violent political situation made investors panicky. The benchmark general index of Dhaka Stock Exchange declined to 4,268.65 points, shedding 0.20 per cent or 8.89 points. DS30, the blue-chip index of

Among the more useful things that the international community has done for Bangladesh since a textile factory collapse killed more than 1,100 people, mostly workers, this past spring was to send DNA kits. They came courtesy of the US government and helped identify dozens of bodies crushed in the collapse of Rana Plaza in April, said ... Read more

The country’s apparel makers fear a plunge in export due to the fresh round of political turbulence which has already been taken place centring the announcement of polls schedule. The exporters say if the situation prolongs for two or three months the existence of many factories will be jeopardised as buyers have already

NBR blames political unrest, economic stagnation, excessive target The National Board of Revenue continued to struggle in achieving its revenue collection target amid volatile political environment and economic slowdown prevailing in the country as shortfall in revenue collection further widened in the first four months of the current fiscal year, officials of the NBR said. According ... Read more

Bangladesh Bank purchased $2.02 billion from the country’s scheduled banks between July 1 and November 21 of the current financial year 2013-14 as the investment sector is now passing a stagnant situation due to the ongoing political unrest, said officials of the central bank. The banks have failed to invest the foreign currency

The Bangladesh Bank board on Tuesday decided to create a refinance fund worth Tk 200 crore for making Tk 10 accounts active, especially those of the marginal and landless farmers who do not have enough savings to keep their accounts moving, said officials of the central bank. The marginal and landless farmers, small shop owners, hawkers ... Read more

Dhaka stocks declined on Tuesday after a rise in the previous trading session with a decline in the turnover as political unrest across the country made investors panicky. The headline DSEX index dropped to 4,277.54 points, shedding 1.77 per cent or 77.33 points. DS30, the blue-chip index of the bourse,

The Food Planning and Monitoring Committee will fix today the purchase rate for procurement of Aman rice for the current season, food ministry officials said. The FPMC, a cabinet-level committee headed by the Minister of Food, will also estimate the amount of Aman rice to be procured from the local markets,

Bangladesh has secured second position among seven Asian countries in its maiden international standardised IT Engineers Examination. Bangladeshi IT professionals’ passing ratio in ITEE is 15.8 per cent, the second highest next to Vietnamese among six IT Professionals Examination Council member countries. The member countries are: Malaysia,

Citycell has recently launched Ultra Utshob, a special campaign, throughout the country with attractive offers for the customers at Citycell customer care centres and customer care points and will continue until further notice, said a news release. These include free RIM replacement and free transfer of ownership, free modem servicing, modem exchange offer,

3,500 Used Cars Imported Before June Govt bows down to pressure from traders, gives tax benefit Finance minister AMA Muhith has allowed 45 per cent depreciation instead of exiting 35 per cent for import of certain number of reconditioned vehicles following recommendations by the revenue board, officials said. The number of car, all of them have ... Read more

Finance Minister AMA Muhith approved a proposal on reducing the existing 0.80 per cent tax at source to 0.60 per cent for export earnings from apparel sector, sources said. Muhith’s approval came on Monday on the back of a proposal of Finance Division, apparently to pacify the apparel makers as they had submitted