Business

A two-day denim expo began at The Radisson Blu Water Garden hotel in Dhaka on Wednesday. The 2nd DenimsandJeans.com Expo has been organised aiming at showing the denim sector strength of Bangladesh and wooing overseas buyers, said a news release. Twenty-four companies from Bangladesh, India, Pakistan, Sri Lanka,

Epson, a Japanese electronics company, on Wednesday launched low-cost printers in Bangladesh for the country’s apparel industries. The low-cost printers will increase the sector’s competitiveness in the world market, Epson India Subcontinent president Toshiyuki Kasai said at a news conference at its Dhaka office while launching Fabric and Direct to Garment printers. Toshiyuki said, ‘We see

Accord on Building Safety, the platform of European retailers, has completed its initial inspection in 1,106 garment factories in Bangladesh until the end of September and identified more than 80,000 faults in the units. The Accord in a press release on Tuesday said that they found faults in all factories and out of them, over 400 ... Read more

The country posted a trade deficit of $990 million in the first two months of the current financial year 2014-15 despite having trade surplus in July as export earnings in August nosedived compared to the import earnings in the month. The trade deficit in July-August of FY 14 was $790 million. The country posted a trade surplus ... Read more

Ipo Fund Diversion Argon Denim, Salvo Chem fined, barred from raising capital for 3yrs The stock market regulator on Tuesday fined Argon Denims and Salvo Chemicals Industry Tk 35 lakh and barred them from raising any capital from the market for three years for violating conditions of using the funds raised through initial public offering ... Read more

The overall point-to-point inflation slightly dropped by 0.07 percentage points in September from the previous month and stood at 6.84 per cent as both food and non-food markets were almost stable in the period, according to the data of Bangladesh Bureau of Statistics. In August, the overall point-to-point inflation rate

The Bangladesh Securities and Exchange Commission on Tuesday approved the initial public offering of Shasha Denims Limited for raising Tk 175 crore from the capital market. A commission meeting, headed by BSEC chairman M Khairul Hossain, approved the Shasha Denims proposal to float 5 crore ordinary shares at a price of Tk 35 including

The private sector credit growth inched up in August from that of the previous month but still remained lower than the monetary policy target as the businesspeople maintained their ‘wait-and-see’ investment policy amid political uncertainty. According to the Bangladesh Bank data released on Sunday, the year-on-year credit growth rate in the private sector rose to 11.39 ... Read more

Importers from now on must have to use jute sacks in packaging imported rice and wheat as the government made it compulsory under the mandatory jute packaging act. According to a gazette notification issued by the textile and jute ministry on October 1, both the government and private importers will have to compulsorily

Emami Group has named Mohsin Ahmed as president to look after its business in the SAARC countries, said a news release. Emami Limited is one of the leading and fastest growing personal and healthcare businesses in India, with household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Mentho Plus Balm and Fast Relief. ... Read more

Dhaka stocks declined on Monday after rise in the previous four trading sessions as investors went for profit-taking mostly on the banks and non-bank financial institutions stocks after the recent surge in the share prices. The key index of Dhaka Stock Exchange, DSEX, closed at 5,309.24 points, shedding 0.46 per cent or 24.79 points. Investors’ profit-taking move ... Read more

Bangladesh Bank on Sunday asked four banks to reduce the number of directors from a single family to two within seven working days. The four banks—National Bank Ltd, Premier Bank, First Security Islami Bank and The City Bank—have more than two members of a family as directors in violation of the Bank Company Act (Amendment) 2013. The ... Read more

The government has failed to meet some major commitments made to the EU Sustainability Compact for improving labour rights and factory safety in the readymade garment industry in Bangladesh in last one year. Bangladesh might face question at a review meeting scheduled to be held on October 20 in Brussels on the progress made in line ... Read more

The state-controlled BASIC Bank is seeking to reduce its classified loans to a drastic 10 per cent in less than two years by June, 2016 as more than 40 per cent non-performing loans of the scam-hit bank badly dented its corporate image. In a frantic move to reshape the financial health of the once best-performing public ... Read more

The Economic Relations Division is set to launch an online-based foreign loans and grants information management system for ensuring transparency and accountability in foreign fund management through tracking and processing information related to loan and grant flow to the country, officials said. The system known as aid information management system will also help enhance

The National Board of Revenue chairman Ghulam Hussain on Sunday said that the current deadline for submitting income tax returns would not be extended further. The extended time frame for filing returns is set to expire on November 2. Taxpayers can visit the tax offices if they face any

The National Board of Revenue has recommended that the government should not accept a request from India seeking travel tax waiver for its nationals, officials said. They said that the revenue board could not exempt any citizen of any particular country as it collected the tax from all outgoing passengers. The Indian

The government has recently increased the minimum wages for the sawmill workers to Tk 6,850 from Tk 4,120 as monthly payment. Labour leaders of the sector, however, have rejected the minimum wages for the workers awarded on September 25 by the minimum wages board. They alleged that the board had set the wages as per the

Start Of Electricity Generation By Ipps Power ministry seeks more time for availing tax benefits The power, energy and mineral resources ministry has sought time extension by two years for starting commercial operation by the independent power plants for availing tax benefits, officials of the National Board of Revenue said. According to the existing rule, the ... Read more

Chittagong Stock Exchange introduced today two new indices — CSE 50 and CSE All Shariah Index. The base point of the two indices will be 1000. Top 50 of the companies listed with CSE have been selected for the CSE 50 index on the basis of their market capital, liquidity position and financial viability. Initially, the ... Read more