Business

Rana Plaza Donor’s Fund 430 receive Tk 50,000 each in first phase Four hundred and thirty workers and families of deceased workers of New Wave Bottoms, one of the five clothing factories housed in Rana Plaza that collapsed on April 24, 2013, on Friday received Tk 50,000 each in compensation from the Donor’s Trust Fund ... Read more

Finance minister AMA Muhith on Thursday said the next budget would be an ‘ambitious’ one as it would be the first of the new government. He projected the size of the next budget at around Tk 2.50 lakh crore. Talking to reporters after a pre-budget discussion with local think-tanks including state-funded BIDS and Policy Research Institute at ... Read more

Senior bureaucrats of the government are puzzled with a unique investment proposal from the United Arab Emirates linking their participation in Sonadia deep-sea port with awarding contracts for two other infrastructure projects. A senior official of DP World, a UAE government-owned company, placed their new investment proposal at a high-level meeting at the

Bangladesh Bank has reduced credit ceiling for two state-owned commercial banks — Sonali and Janata — due to their poor financial health for this year. The central bank, however, raised the limit for Rupali Bank and kept it unchanged for Agrani Bank. The BB took the move in a bid to curb the rise in

Gsp Restoration US senator warns against torture of trade unionists Tofail terms comments unwanted The chairman of the US senate committee on foreign relations Robert Menendez has warned that he would not support the reinstatement of generalized system of preferences for Bangladesh if the factory owners continue harassment and intimidation of trade union organisers and ... Read more

Commitments of foreign loans and grants declined by 24 per cent in the first eight months of the current fiscal year because of political unrest surrounding the national election and the government’s thorny relations with the international lenders over Padma Bridge scam. The latest data of the Economic Relations Division

The Bangladesh Securities and Exchange Commission on Tuesday approved the initial public offering of Far East Knitting and Dyeing Industries to raise fund worth Tk 67.50 crore floating its 2.50-crore shares. As per the BSEC approved, the offer price of each share of the company has been set at Tk 27 including premium of Tk 17 ... Read more

The telecom regulator on Tuesday asked all telecom, internet and interconnection operators to submit their documents of expired and lifetime duration service and tariff approvals of last five years for a review in order to reduce the tariff and extend the time. According to the Bangladesh Telecommunication Regulatory Commission notice issued on the day, the

Exports slump as Delhi continues to put non-tariff, para-tariff barriers The country’s trade gap with India swelled to US$ 2.59 billion in the first half of the current fiscal year and could hit US$ 5-billion in the year-end due to falling exports amid continuous non-tariff and para-tariff barriers imposed by New Delhi, officials said. Bangladesh’s exports ... Read more

To lower rate to 0.30pc for RMG The National Board of Revenue is going to reduce tax at source on export of all but RMG products to 0.60 per cent from the existing 0.80 per cent for 15 months, officials of the NBR said. Export of the readymade garment items, however, will enjoy 0.30 per cent ... Read more

Finance minister AMA Muhith on Monday hoped that the country’s gross domestic product would grow at the rate of 6.5 per cent in the current fiscal year despite sluggish annual development programme and falling foreign aids. He expressed his optimism on the country’s economic growth while presenting the half-yearly budget review report in parliament. The

Hallmark Scam BB asks Sonali again to settle accepted bills Bangladesh Bank on Monday asked again Sonali Bank to settle the accepted bills with other banks relating Hallmark scam as the state-owned bank failed to fulfil its own commitment. The BB also asked the SBL to inform the scheduled banks concerned about which payment of ... Read more

Agent Banking Agent needs to deposit Tk 10 lakh with bank Bangladesh Bank on Monday said that the organisations willing to operate agent banking would have to deposit minimum Tk 10 lakh with their banks concerned. The BB also said that the agents would have to conduct their operation outside the metropolitan cities, city corporations ... Read more

Foreign direct investment (FDI) in Bangladesh increased by 44.83 per cent to $1.73 billion, the highest in recent years, in the financial year 2012-13, according to the latest Bangladesh Bank data. The BB data showed that the country had received $1.73 billion FDI in the FY13 against $1.19 billion in the FY12. Bangladesh received $779.04 million ... Read more

Commerce minister Tofail Ahmed on Sunday said that the government would take an initiative to provide cash incentive for the furniture exporters to encourage the entrepreneurs in the sector. Speaking at the inauguration ceremony of three-day Bangladesh Furniture and Interior Decor Expo-2014 at Bangabandhu International Conference Centre in the city, the minister

The National Board of Revenue is set to issue a statutory regulatory order reducing tax at source on export of apparel items to 0.30 per cent from the existing 0.80 per cent for 15 months, officials of the NBR said. They said that readymade garment exporters would get the benefit for maximum 15 months as the ... Read more

7 Lakh Errant Tin Holders NBR unlikely to impose penalty in most cases It is very unlikely that the National Board of Revenue will serve notices and impose penalty on most of the individual taxpayers who failed to submit their income tax returns for the current fiscal year, NBR officials said. According to the latest statistics ... Read more

RMG Workers Factory owners lack Tk 1 lakh to prepare biometric database Most of the garment factories that represent the multi-billion dollar export sector have failed to complete biometric database of workers in 10 months due to ‘cash crisis’. RMG factory owners claimed that they could not arrange the fund required for the process as ... Read more

Fashion entrepreneurs assoc launched The country’s fashion industry should get the government policy support as a priority sector to contribute to the economy in an organised manner, said the fashion house owners at the launching of the Fashion Entrepreneurs Association of Bangladesh in Dhaka on Saturday. They said the FEBA would be the core representative

Govt-Sponsored Rmg Factory Inspection Process stalled as 1st-phase reports not finalised yet The government-sponsored and the International Labour Organisation-supported safety inspection to the readymade garment factories remained stalled for the last two months as the first-phase inspection reports of 200 garment factories are yet to be finalised. It will take over a month more to ... Read more