Business

Mobile money transfer service provider bKash has 50 per cent market share in the country while new providers are expanding rapidly, Kenya-based international organisation Helix Institute of Digital Finance said in a report on Monday. In the Agent Network Accelerator Survey Report 2014, the Helix also said transaction volumes and profits in mobile financial service

The cabinet on Monday approved the draft Financial Reporting Bill 2014, more than one year after approving it in principle, to set a standard for financial reporting by the companies. The finance division placed the draft bill in a weekly cabinet meeting on the day presided over by prime minister Sheikh Hasina at the secretariat, ... Read more

Foreign Loan Of Over 1yr BoI nod must for capital machinery import: BB The businesspeople will have to take prior approval from Board of Investment to import capital machinery by receiving foreign credit with tenure of more than one year, said officials of Bangladesh Bank. The BB will issue a circular to authorised dealer branches ... Read more

Revenue Sharing BTRC to get Tk 244cr VAT exemption The National Board of Revenue on Sunday decided in principle to exempt the Bangladesh Telecommunication Regulatory Commission from paying Tk 244 crore as outstanding value-added tax on revenue sharing, officials said. The telecom regulator was supposed to collect the value-added tax from the six mobile companies and ... Read more

RMG Factory Inspection BUET teams for partial evacuation of 2 buildings The inspection teams of Bangladesh University of Engineering and Technology have found safety risks in two buildings, where five garment factories are housed, and suggested that the government-set review committee should evacuate the buildings partially. The BUET teams under a joint initiative of the

Shahjibazar’s Surge BSEC forms another probe committee The Bangladesh Securities and Exchange Commission on Sunday formed a fresh investigation committee to look into unusual rise in the share prices of Shahjibazar Power Company. Earlier on August 3, the regulatory body had formed a committee that had investigated unusual rise in the share prices of the ... Read more

Md Abdus Salam has recently joined Premier Bank as deputy managing director. Prior to joining Premier Bank, he served as an adviser to Multimode Group, said a news release. Salam started his career in 1976 as a senior officer with Sonali Bank. He also worked at National Bank and Mercantile Bank.

Wali Ul Islam has recently joined Unicap Securities Limited — a subsidiary of Union Capital Limited — as chief executive officer. Prior to his joining at Unicap Securities Limited (former SES Company Limited), Wali served as the chief executive officer and director of LankaBangla Securities Limited, said a news release. He had worked in different organisations like ... Read more

Mayor Hanif Flyover Orion set to get tax exemption for 15yrs The National Board of Revenue on Sunday decided in principle to provide Orion Infrastructure Limited, a concern of Orion Group, with tax exemption on its income from the Mayor Hanif Flyover for 15 years, officials said. They said that the decision was taken at the ... Read more

Dhaka stocks declined sharply on Sunday, the first trading session of the week, with increased turnover amid investors’ share sell-offs of large capitalised companies. The key index of the Dhaka Stock Exchange, DSEX, declined to 4,938.65 points, shedding 1.72 per cent or 86.44 points. DS30, the blue-chip index of DSE, fell

Net profit of most banks listed with the capital market rose in July-September period of 2014 compared to the same period of the previous year amid relaxed loan rescheduling facility against defaulted loans and increased interest margin on working capital. Out of the 30 banks listed with the capital market, net profit

Defaulted loans in the country’s agriculture sector stood at Tk 6,006.80 crore as of September 30, 2014 which accounted for 20.04 per cent of the total loans disbursed (Tk 29,971.50 crore) in the sector. The farm sector defaulted loans accounted for 18.22 per cent of the total loans (Tk 34,632.82 crore) disbursed in the sector ... Read more

The prices of onion and broiler went up in the city’s kitchen markets over the week ending Friday. According to traders, the price of onion increased due to supply shortage and the price of broiler went up due to increasing demand. They said that the price of imported onion increased as a supply shortage of ... Read more

The National Board of Revenue has sought detailed data on economic units and businessmen in the country found by the Bangladesh Bureau of Statistics through Economic Census-2013 to trace potential taxpayers, officials said. They said that income tax wing of the revenue board would conduct survey based on the data to bring businessmen listed through ... Read more

Traders suffered as business activities were hampered by the nationwide general strikes enforced by the Bangladesh Jamaat-e-Islami in all four working days in this week. Tuesday was a public holiday on the occasion of Ashura. Jamaat enforced the strikes in protest at the punishments

The National Board of Revenue on Wednesday formed a committee to identify Bangladeshi citizens who laundered money abroad, officials concerned said. The four-member committee will also prepare a work-plan to prevent tax evasion by Bangladeshi people through laundering money, they said. The committee, headed

The government is going to finalise new textile policy with the aim of raising local textile production from the existing 7,000 million mitres to 14,036 million mitres of fabrics by 2019-20. Currently, country’s textile sector meets 62 per cent of the local demand for fabrics — 11,400 million mitres — a year. Earlier, the government ... Read more

Mobile Sim Replacement ACC launches probe into tax evasion by 4 cos The Anti-Corruption Commission has launched an inquiry into alleged tax evasion worth Tk 3,062.20 crore by four mobile phone operators through SIM replacement, officials of the ACC told New Age on Monday. They said they had already started investigation into the matter after ... Read more

A finance ministry internal report has strongly recommended making immediate revision on the interest rates regime of savings tools amid their astronomical growth in a sluggish investment climate in the country. The report warned of an imminent fiscal risk to be caused by high interest burden of the government if the interest yields are not ... Read more

Bangladesh Bank on Monday said any person, organisation and company would have to take prior approval from the central bank if they hold jointly or individually more than 5 per cent shares of a bank company. The BB issued a circular to managing directors and chief executive officers of all banks saying that individual person, ... Read more