Business

Share trading of Pharma Aids resume at the Dhaka Stock Exchange tomorrow after three months of suspension. The bourse on February 5 suspended Pharma Airs’ share trading at the bourse. The DSE board on Thursday decided to scrap Pharma Aids trade suspension in a bid to reduce investors’ sufferings and allowing them to trade shares. The DSE bourse

The government will not allow legalisation of undisclosed money in the next budget for fiscal year 2014-15, finance minister Abul Maal Abdul Muhith said on Thursday. ‘There will be no scope for whitening of black money in the coming budget,’ he said at the 35th consultative committee meeting at Pan Pacific Sonargaon Hotel.

The country’s total export earnings stood at US$ 24.65 billion in the first 10 months of the current fiscal year 2013-14 with a growth of 13.18 per cent year-on-year due to the rebound of export earnings growth in April. After the disappointing growth of previous three months the export earnings in April stood at US$ 2.41 ... Read more

Bangladesh Securities and Exchange Commission chairman M Khairul Hossain on Thursday advised the Dhaka Stock Exchange to find one or more renowned foreign strategic investors for the demutualised bourse as soon as possible. The BSEC chairman gave the advice when the DSE board made a courtesy visit to the commission following the extension of the

The Federation of Bangladesh Chambers of Commerce and Industry on Thursday suggested that the government should take a set of fiscal measures to protect domestic industries from uneven competition with imported finished goods and make the local industries competitive in the export market. At the 35th consultative committee meeting on budget,

The country’s trade deficit increased to $4.94 billion in July-March of this fiscal year against $4.86 billion during the same period of the FY13 because of a sudden jump in import in the last few months with a decreased export growth. A Bangladesh Bank official told New Age that the country’s trade deficit widened in March ... Read more

Dhaka stocks declined on Thursday after rising for three trading sessions as investors became shaky following the finance minister AMA Muhith’s remark that the government will scrape the scope of legalising undisclosed money from the next fiscal budget. The key index of the Dhaka Stock Exchange, DSEX,

The Appellate Division of the Supreme Court on Thursday vacated a High Court order halting collection of subscription fees for initial public offering of Khulna Printing and Packaging Limited. The Appellate Division chamber judge, Justice Hasan Foez Siddique stayed for two weeks the HC order issued on Wednesday. The HC had passed the

The country’s overall imports increased by 30.61 per cent in March of this year against a negative growth of 5.38 per cent in the corresponding month of the last year due mainly to higher import of food, petroleum and chemical products. According to Bangladesh Bank data released on Wednesday, the overall settlement of letters of credit, ... Read more

Bangladesh Bank on Wednesday said it would seek suggestions from Bangladesh Securities and Exchange Commission when it (central bank) would issue fresh rules and regulations for the country’s capital market. The decision came from a meeting between the BB and the BSEC at the central bank headquarters in the capital. BB deputy governor Abu Hena Mohd Razee ... Read more

The National Board of Revenue is going to launch online income tax return submission system from January 2015 to facilitate hassle-free tax payment by the taxpayers, the revenue board chairman Ghulam Hussain said on Wednesday. He also said that income tax would be the largest sector of revenue collection, for the first time in the country’s

The High Court on Wednesday stayed further proceedings of collecting applications from small investors for the initial public offering of Khulna Printing & Packaging. The bench of Justice Mirza Hossain Haider and Justice Muhammad Khurshid Alam Sarkar also asked Bangladesh Security and Exchange Commission and

The country’s overall point-to-point inflation inched down by 0.02 percentage point to 7.46 per cent in April which rose by 0.04 percentage point to 7.48 per cent in the previous month, said officials of Bangladesh Bureau of Statistics on Wednesday. The overall food inflation decreased to 8.95 per cent

Dhaka stocks finished positive on Wednesday, extending the gaining streak to three-day, despite sluggish trading in the late hours following news of some enforcement actions taken by the regulator. The key index of Dhaka Stock Exchange, DSEX, closed at 4,575.50 points, adding 0.27 per cent or 12.53 points. The DSEX gained around 70 points in the

The prime minister, Sheikh Hasina, on Wednesday sought more investment from the United Arab Emirates in socioeconomic and infrastructural development as well as power and energy sectors in Bangladesh. She sought the cooperation when UAE ambassador to Bangladesh Saeed Bin Hajar Al-shehi paid a courtesy call on her at her office. Hasina, in another

Board has limited option to offset revenue loss The revenue board plans to backtrack from a move to slash the corporate tax in the upcoming budget as the revenue to be forgone under the fiscal stimulus stands high, and loss offsetting budgetary measures appear limited. Senior taxmen said raising the tax slabs for individuals to offset ... Read more

Country’s leading mobile phone operator Grameenphone on Tuesday reported Tk 516.01 crore profit in January-March period of 2014 compared to that of Tk 453.96 crore in the same period of previous year. The earnings per share of the company is Tk 3.82 after the first quarter compared to that of Tk 3.36 at the same period ... Read more

Bangladesh should go for expansion of its diplomatic network at a cost effective manner by engaging honorary consuls to expand its position in the global market especially in accelerating trade and attracting investment. ‘Many countries like Canada, Cyprus, Iceland, Mexico and the Philippines are using such services of the honorary consuls as a cost effective

The country’ leading economists have opposed a proposal of the apparel manufacturers seeking sovereign guarantee from the government against foreign loan for setting up a garment industrial park in Munshiganj. It will be risky for the government to give sovereign guarantee for the private sector project as the government will be responsible for the

The country’s credit growth rate in the private sector increased slightly in March from the previous month but still remained very low as businesspeople continued with their wait-and-see policy because of ongoing political uncertainty. According to Bangladesh Bank data released on Tuesday, the year-on-year credit growth rate in the private sector