Business

Dhaka stocks advanced on Monday after they declined in the earlier two trading sessions due to investors’ increased participation anticipating support from the state-owned entities. The benchmark general index of Dhaka Stock Exchange, DSEX, advanced by 0.69 per cent, or 30.18 points, to close at 4,354.88 points on the day.

The country’s export earning growth in October hit the lowest in 14 months to 2.03 per cent. In August 2012, the earning had posted a negative 17.89 per cent growth. Industry insiders have attributed the lower growth to production disruption for long due to Eid vacation and labour unrest in the garment sector

Bangladesh Bank governor Atiur Rahman on Sunday said the reputation of the central bank was under threat of being tainted due to some financial irregularities in the state-controlled banks in recent times. The scams also put the image of the country’s banking sector under threat, he said. The BB governor made the comments at the inaugural session ... Read more

Leaders of the National Garment Workers Federation (NGWF) have demanded better medical treatment and Tk 5 lakh compensation for the each family of deceased and injured workers of the Tazrin garment factory based on “loss of earning.” They also demanded immediate arrest of the responsible persons, including the factory owner, for the devastating fire at ... Read more

BTRC finalises directive The Bangladesh Telecommunication Regulatory Commission has recently finalised a directive for establishing a unique handset identification system by the mobile phone operators in order to track counterfeit handsets. According to the directive, the mobile phone companies have to establish a system to identify the International Mobile Equipment Identity

The National Board of Revenue has got poor response from individual taxpayers mainly because of political turmoil prevailing in the country as only 5.75 lakh taxpayers submitted their income tax returns till November 14, officials said. The number of income tax returns the revenue board received is significantly lower than that in the same time of ... Read more

The member-states of Gulf Cooperation Council, the largest employers of Bangladeshi domestic helps, are planning to introduce a unified contract system for appointing domestic workers from mid-2014, according to officials and the migrants’ rights organisations. The GCC is a political and economic union of Arab

Prime minister Sheikh Hasina on Sunday asked the authorities concerned for taking more programmes to make small and new investors aware about relevant laws and rules of the stock market to minimise their risks. ‘I would like to ask all concerned to take more awareness-raising programmes for the small and new investors in the capital market ... Read more

Dhaka stocks declined on Sunday, the first trading session of the week, as the prices of banks’ shares dropped due to profit-taking sell-offs after recent rise. DSEX, the benchmark general index of Dhaka Stock Exchange, decreased to 4,324.70 points, shedding 1.62 per cent or 71.23 points. DS30,

United Commercial Bank (UCB) launched mobile financial service “UCash” at Pan Pacific Sonargaon on Saturday. This initiative of mobile financial service is an innovative approach of UCB to spread banking service and facilities to the vast majority of unbanked population of the country. Chairman of UCB MA Hashem inaugurated the programme, says a press

Association of Chartered Certified Accountants (ACCA) and Robi Axiata Ltd on Sunday signed a Memorandum of Understanding (MoU). Under the agreement, Robi will provide internship opportunities to ACCA students in regular intervals. Mohua Rashid, country head of ACCA Bangladesh and Matiul Islam Nowshad, chief human resources of Robi Axiata Ltd

One year after the Tazreen factory fire at Ashulia, many US retailers that sold garments produced there or inside the Rana Plaza building that collapsed last spring are refusing to join an effort to compensate the families of the more than 1,200 workers who died in those disasters, reports New York Times. The International Labour Organisation ... Read more

Bangladesh has been ranked in the 137th position out of 179 countries in the International Supply Chain Connectivity which highlights the extent of a country’s facilitation of import and export process as well as access to efficient maritime services, said Asia Pacific Trade and Investment Report-2013 released on Saturday. Bangladesh Foreign Trade Institute,

Aviation body wants waiver National Board of Revenue and Civil Aviation Authority, Bangladesh are in a dispute over income tax payment for years as the CAAB is not paying the tax, claiming it as a non-taxable entity, NBR officials said. They said that the NBR had been asking the CAAB for opening tax file taking the ... Read more

Unnayan Onneshan, a local think tank, on Saturday said that the government might miss its revenue collection target in the current fiscal year, constraining the economic growth of the country. In its current issue of Bangladesh Economic Update of November, the organisation also estimated that the gap between targeted and realised revenue might increase further

The Bangladesh government and the BGMEA should immediately develop and implement tough and effective sanctions against factory owners who do not comply with Bangladesh laws by engaging in anti-union activity and advance progress in sanctioning owners who do not comply with the required safety standards, said a US senator. The next government of

Dhaka stocks advanced last week, four weeks in a row, with a sharp increase in the turnover because of an increased participation of foreign investors. The daily average turnover of Dhaka Stock Exchange increased to Tk 696.79 crore from that of Tk 474.32 crore in the previous week. Market

United Commercial Bank Saturday launched UCash, a mobile financial service of the bank aiming to provide the unbanked population of the country with banking service and facilities. UCB chairman MA Hashem inaugurated the service at a programme held at the Pan Pacific Sonargaon Hotel in Dhaka, said a press release. The

A significant amount of over Tk 112.68 crore in outstanding dues remain unrealised in the Dhaka zone and Tk 3.56 crore in Chittagong and Sylhet zones, over Tk 2.12 crore in Rajshahi zone, and Tk 3.12 crore in Khulna and Barisal zone Dhaka, Nov 22: The government is likely to lose revenue of nearly Tk 1.22 ... Read more

Farm Loan Disbursement 11 banks cut a sorry figure in 4 months Eleven commercial banks distributed less than 10 per cent of their annual targets of agricultural loan disbursement in the first four months of the current fiscal year. According to the Bangladesh Bank data released last week, the 11 banks are Citibank NA that ... Read more