Business

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

Foreign diplomats say at a views exchange meeting Foreign diplomats on Wednesday said that Bangladesh must ensure international standards in the readymade garment sector to retain GSP facility in different markets across the globe. The global community and buyers are monitoring the country’s progress towards full compliance in the RMG sector as the issue is ... Read more

Three decades after it started doing business with suppliers in Bangladesh, Hennes & Mauritz AB is seeking greater control of production in a nation where it is among the largest purchasers of clothing, reports Bloomberg. H&M this year agreed to become the sole client of two factories in Bangladesh and one in Cambodia, helping convince building ... Read more

Bangladesh Bank on Wednesday said the number of clients of mobile banking service crossed one crore. According to a BB press release, the number of clients of the mobile banking stood at 1.02 crore on November 11, 2013 from 50 lakh in April of this year. The BB press release said that the mobile banking

The country’s overall imports increased by 8.60 per cent in October of this year against a 10.79-per cent negative growth in the corresponding month of last year due mainly to higher import of food gains — particularly rice and wheat — and chemical fertilisers. According to the latest data of Bangladesh Bank