Business

Country’s tourism business is going through a massive slump as the visitors are cancelling their schedules because of the ongoing political unrest and frequent strikes and blockades, said industry operators. They said pleasure trips have become the least

The country’s remittance inflow decreased by 9.20 per cent in the first five months of the current financial year compared with that in the corresponding period of the FY13 due mainly to the existing political unrest and declining trend in the manpower export, said officials of Bangladesh Bank. According

The price of the shares of Rahima Food continued to rise on Monday and touched the circuit breaker in the last couple of days despite the Dhaka Stock Exchange’s announcement that the production of the company was found fully closed. In the last six trading sessions the share price

Unrealised Stock Losses M-banks, brokers to get another year to keep provision Bangladesh Securities and Exchange Commission is likely to allow merchant banks and brokerage houses another year to keep 100 per cent provision against their unrealised losses from the capital market in 2012. ‘The commission may allow merchant banks and

Dhaka stocks advanced on Monday as the state-owned entities went to support the market in late trading after a four-day fall amid political violence across the country. The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,197.92 points, adding 1.22 per cent or 50.71 points. DS30, the

Singapore Airlines is allowing customers more free checked-in baggage from November 15 for all SIA and SilkAir flights. Checked-in baggage allowances increased by 10kg for all classes of travel. Customers are entitled to free baggage allowances of 50kg in Suites and First Class, 40kg in Business Class and 30kg in Economy Class. For flights to and from ... Read more

Bangladesh Small Industries and Commerce Bank’s Jhenaidah branch started functioning in Jhenaidah on Saturday, said a press release. BASIC bank chairman Sheikh Abdul Hye Bacchu inaugurated the 66th branch of the bank. The inauguration programme was presided over by the bank’s managing director Kazi Faqurul Islam. The bank’s general manager

MM Monirul Alam has recently been promoted as additional managing director of Pragati Life Insurance Company, said a press release. Prior to his new assignment, he served the company as deputy managing director and group and reinsurance department head. After completing MS in statistics with Honours from

Estimates price at Tk 18 lakh Japanese automobile giant Mitsubishi Motors Ltd has recently placed a formal proposal to the Bangladesh Steel and Engineering Corporation for assembling sedan car in Bangladesh as soon as possible in a bid to catch the market through supplying the motor vehicle at affordable price, officials concerned said. In the proposal ... Read more

KMART and Target owner Wesfarmers has dropped some of its suppliers in Bangladesh following the garment factory collapse in that country in April, says director Diane Smith-Gander, reports The Australian newspaper. ‘They’ve made some decisions not to continue to source in particular markets where they couldn’t be comfortable the building codes were

Five newly-established commercial banks on Sunday got listed with the central bank as primary dealers of the government securities, said officials of the Bangladesh Bank. The five banks are NRB Commercial Bank, South Bangla Agriculture and Commerce Bank, Midland Bank, Farmers Bank and Meghna Bank.

Bangladesh Bank on Sunday said that non-bank financial institutions would be able to collect term deposits from clients and institutions for three-month tenure instead of exiting six-month. To this end, the BB issued a circular to managing directors and chief executive officers of all NBFIs saying that from now on they were able to

Affected Investors Application deadline for stock scheme extended to Dec 15 The supervision committee for the Tk 900-crore government refinance scheme for the small-scale investors affected by the 2010-11 stock market crash has decided to extend the deadline for receiving applications from merchant banks and brokerage houses to December 15. The five-member committee made the ... Read more

DSEX falls for 4th day amid low turnover Dhaka stocks decreased for the fourth trading session on Sunday with a decreased turnover as the current political violence made the investors panicky. The benchmark general index of Dhaka Stock Exchange, DSEX, dropped to 4,147.20 points, shedding 1.97 per cent or 83.51 points. DS30,

Net foreign investment at the Dhaka Stock Exchange increased by 17 per cent in November compared with that in the previous month as lucrative share prices lured overseas investors. The investment stood at Tk 276.72 crore in November as overseas investors bought shares worth Tk 342.44 crore and sold shares worth Tk 65.71

Asian Development Bank (ADB) will continue to assist Bangladesh to reform the external trade regime, to participate actively in sub-regional cooperation initiatives and to establish an integrated sub-regional transport and energy network to enhance Bangladesh’s position as a transport and

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