Business

The state-run Power Development Board has asked the National Board of Revenue to waive about 29 per cent taxes on imported electricity from India, saying that the taxes would increase the cost significantly. On November 6, the power board requested

FY 2013-14 Import increases by 8.71pc in 4 months The country’s import increased by 8.71 per cent in the first four of the current fiscal year 2013-14 compared with that of a negative growth of 11.38 per cent in the corresponding period of the FY13. BB officials told New Age on Thursday that

Alternative Dispute Resolution mechanism of the National Revenue Board has yet to get momentum even one year after introduction of the system as the revenue board failed to create awareness among the taxpayers to adopt it as a way of resolving tax disputes, NBR officials, experts and taxpayers observed.

The National Board of Revenue has again extended the deadline for income tax returns submission by one month to December 31, NBR chairman Ghulam Hussain said. ‘Individual taxpayers will be able to file their income tax returns till December 31,’ Hussain told reporters after a seminar on alternative

Traders’ association of Tripura suspended trade with Bangladesh through Akhaura multi-use integrated check post in Agartala for indefinite period from Friday. The Export-Importers’ Association of Tripura took the step to protest hike in ‘loading and unloading’ tariff by the Central Warehousing Corporation

Dhaka stocks declined last week after a straight gain in the previous four weeks with fall in turnover due to the ongoing political unrest across the country which made investors panicky, market operators said. The benchmark general index of Dhaka

Shahjalal Islami Bank has appointed Farman R Chowdhury as managing director and chief executive officer with effect from today, said a press release. Prior to his joining he was the managing director of ONE Bank. Chowdhury started his banking career in

The country’s seven state-run banks held nearly 57 per cent of total defaulted loans in the banking sector as of September 30 as a significant amount of loan remained classified due to some recent banking scams and poor business environment, said Bangladesh Bank officials. Five out of the seven state-run banks also

The prices of vegetables increased on the city’s kitchen markets over the week ending Friday as a 71-hour blockade called by the opposition alliance disrupted supply chain. The prices of other commodities, however, remained unchanged on the retail market in the capital on Friday. Traders said that the prices of

Banks and non-banking financial institutions should focus on ‘green business’ while sanctioning loan to protect the environment from pollution, said speakers in a conference in Dhaka on Friday. Speakers in the ‘SR Asia Second International Conference 2013’ on ‘responsible business conduct to safeguard the people’s issues and environment

Darshana Sugar Mills will go into production from December 6. A preparatory meeting with the managing director of the mill Azizur Rahman was held in Chuadanga in this connection. Top officials of the mill and sugarcane welfare society leaders, workers union leaders, six zonal chiefs of the mill and leading sugarcane cultivators

The US is unlikely to review Bangladesh’s plea of reinstating the duty-free benefit to certain products next month because of the recently inked TICFA that has hampered the preparation process of review.  Commerce secretary Mahbubur Rahman told reporters on Thursday that the review might be delayed till next March. Necessary papers in this connection

Meeting Capital Shortfall BB asks 14 banks to give plans by Dec 7 Bangladesh Bank has asked 14 banks, which have shortfalls in required capital, to submit their plans by first week of December on how they will meet the shortfalls. The BB issued letters in this regard to managing directors and chief executive officers ... Read more

The net investment in the national savings certificates and bonds increased by 427.61 per cent in the first four months of the current fiscal year 2013-14 compared with that in the same period of the FY13 because of a declining trend in the premature encashment. The selling rate of the savings certificates

The prices of most of the vegetables increased by Tk 10 in the city’s kitchen markets due to a supply shortage amid a three-day blockade programme enforced by the BNP-led opposition alliance across the country. Traders said that transports remained almost suspended from Monday night in fear of vandalism and torching but a few number of ... Read more

Bangladesh Bank has appointed an observer for BASIC Bank to monitor its activities as the financial health of the scam-hit state-run specialised bank worsened in the last few months. The central bank’s general manager (Department of Banking Inspection-1), Ashok Kumar Dey, was appointed as an observer for BASIC Bank on

The Federation of Bangladesh Chambers of Commerce and Industry on Thursday urged the government to extend the deadline for submission of income tax returns by another one month till December 31. ‘The FBCCI, on behalf of the business community, is urging the government to extend the deadline for submission of income tax for the 3rd time ... Read more

Dhaka stocks declined for the third trading session on Thursday with a sharp fall in the turnover due to panic sell-offs from investors amid political violence across the country. The turnover of Dhaka Stock Exchange dropped to Tk 366.51 crore from Tk 580.30 crore in the previous trading session. The benchmark

Changes Of Directors BB asks NBFIs to inform through its web portal Bangladesh Bank on Thursday asked non-bank financial institutions to inform the central bank about any change of their directors within seven days through the related web link of the central bank’s web portal. The BB issued a circular to managing directors and chief executive ... Read more

Aus Bangla Tourism Pty Ltd recently hosted Bangladesh Tourism Night, celebrating the positive sides of Bangladesh in making it a tourist attraction, at Petersham Town Hall of Sydney in Australia. The High Commissioner of Bangladesh in Australia, Masud Uddin Chowdhury, spoke as the chief guest at the programme. Member for Campbelltown