Business

Bangladesh Bank has decided to create a database of the expatriate Bangladeshi workers. Expatriates will be able to post personal information in the database linked to the central bank’s web site. The initiative, which begins this week, is aimed at gathering information about Bangladeshis working in various countries, said the bank spokesperson

Bangladesh Bank has asked the scheduled banks which are holding most of the overdue inland and foreign bills against letters of credit to settle their bills by November 27, said officials of the central bank. The BB’s direction came at a series of meetings held in the last eight days with 23 scheduled banks which performed ... Read more

The High Court on Sunday asked the Bangladesh Telecommunication Regulatory Commission and the government to explain in 15 days the legality of the latest broadband wireless access service licence awarded to Ollo. The HC bench of Justice Mirza Hussain Haider and Justice Muhammad Khurshid Alam Sarkar issued the rule after hearing a public interest

The country’s apparel exporters on Sunday urged the visiting US assistant secretary of state for South and Central Asia, Nisha Desai Biswal, for a move to push the US buyers for increasing the prices of products. Better prices for apparel products are necessary to ensure workplace safety and workers’ rights in Bangladesh, they told Nisha. In a ... Read more

No way to entertain such demand: NBR The power division has requested the government for waiving value added tax worth around Tk 100 crore of the rural electrification board saying realisation of VAT might spark unrest among rural clients, officials said. Junior power minister Enamul Haque in a letter to finance minister Abul Maal Abdul Muhith ... Read more

The capital market regulator on Sunday asked Bangladesh Jute and Commodity Exchange to scrap ‘commodity exchange’ from its name saying that there was no scope of conducting such business without the regulator’s permission. The BJCE is a private company which has recently undertaken a project to run a commodity exchange service, but it did not

The government has decided to open emigration clearance for the people who want to work in the Maldives from today, expatriates’ welfare and overseas employment minister Khandker Mosharraf Hossain said. Talking to New Age at his office on Sunday, the minister said a government team recently visited the Maldives and they found that Bangladeshi workers

Dhaka stocks gained for the third trading session on Sunday, but the turnover declined due to a buying pressure late in the session. The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,256.42 points, adding 0.35 per cent, or 14.87 points.

Bangladesh Bank (BB) governor Dr Atiur Rahman on Saturday expressed his grave concern over the growing political instability across the country. Terming the ongoing political unrest a major obstacle on the way to investment, the governor underscored the need for a stable socio-political situation to ensure a conducive environment for investment. The governor

The speakers at a seminar on Saturday stressed that some substandard RMG factories in Bangladesh are still risky for the workers.They observed that better human resource management and communication between employees and managers could benefit owners, managers and workers alike. “I have visited and seen a number of garments factories and found some

Christoph Voegeli has been appointed general manager of the Radisson Blu Water Garden Hotel Dhaka, the hotel said in a statement. Voegeli is a German national and brings more than 20 years of hospitality experience to the Radisson, including nine years as the general manager of leading hotels in Thailand, Indonesia, Malaysia and Vietnam. Prior to

Bangladesh Bank is going to take strict regulations for currency exchange firms to check money laundering, said officials of the central bank. The central bank is going to make mandatory for money exchange firms to provide the clients with receipts when they will purchase or sell any foreign

Shareholding By Directors Aviation ministry lobbies with BSEC to relax bar for United Airways The civil aviation and truism ministry has asked the capital market regulator to relax the company directors’ shareholding rules for United Airways Ltd as the rules bars the company from issuing rights shares. The aviation ministry letter, signed by assistant secretary Abdur ... Read more

NBR asks banks The National Board of Revenue has instructed the commercial banks to ensure deduction of the advance income tax from the payable amount of import bills against local letters of credit. The revenue board last week issued a special order asking the banks to deduct AIT at the time of bill payment against ... Read more

Tax Evasion Prevention Govt mulls bringing DPI under institutional mechanism The government is weighing up the scope to bring direct pro-forma invoice issuing companies under an organisational mechanism in a bid to prevent tax evasion through under-invoicing in the DPI system, said National Board of Revenue officials. The NBR is now working on ways to bring ... Read more

Myanmar exchanged the least border trade with Bangladesh among its four neighbouring countries in this fiscal year, according to the former’s Ministry of Commerce. Myanmar’s border trade with four neighbouring countries — China, India, Thailand and Bangladesh —between April 1 and November 11 was worth $2.7 billion,

Walmart Stores on Thursday reported its third straight quarterly decline in US comparable sales, hurt by a drop in shopper visits, and the world’s largest retailer gave a disappointing profit forecast for the holiday season, reports Reuters. The company said comparable sales at its US stores, its biggest unit, fell 0.3 per cent in the third ... Read more

Dhaka stocks maintained gain for the second day on Thursday with increasing turnover as the investors are buying shares in a hope to book profit after political unrest ends. DSEX, the benchmark general of Dhaka Stock Exchange, gained 0.68 per cent or 28.81 points, to close at 4,241.54 points. The bluechip index of

Employees of private cellular phone operator Banglalink on Thursday staged a sit-in in front of the company’s headquarters at Gulshan in the city, demanding regularisation of their job and wage increase as per the labour law. A total of 92 employees of Banglalink’s maintenance and operation section staged the demonstration that started at 11:00am and

Bangladesh Telecommunication Regulatory Commission on Wednesday asked permission from the telecom ministry for cancelling licenses of international gateway operator Telex Ltd and Ratul Telecom for their failure to pay the government dues. BTRC officials said the telecom regulator already blocked the operation of the two companies as Telex failed to pay