Business

Central bank launches Tk 100cr scheme The Bangladesh Bank on Tuesday said country’s Islamic banks and Shariah-based non-bank financial institutions would get refinance fund for the first time from the central bank. The banks and NBFIs will get the fund to give loans to rural area-based ago-processing and small industries. A BB official told New Age ... Read more

Tax Returns Submission NBR likely to extend time again The National Board of Revenue is likely to extend the deadline for submission of income tax returns by individual taxpayers by one more month to November 30, NBR officials said. They said the number of returns submitted till Tuesday was very low with only two days ... Read more

NBR, however, falls short of target Revenue collection by the National Board of Revenue grew by 17.09 per cent or Tk 3,615 crore in the first quarter of the current fiscal year compared with that in the same period of the last fiscal year, the NBR data released on Tuesday showed. Despite a healthy growth in ... Read more

Hotels and motels in Cox’s Bazar fear huge financial losses as tourists are increasingly shelving plans to visit the town of the longest natural sea beach in the world due to persistent deadly political activities. Occupancy rates at most hotels and motels in the beach town, the most popular tourist spot in the country, were as ... Read more

The Board of Directors of the Dhaka Stock Exchange has cancelled its extraordinary general meeting scheduled on Tuesday for passing the demutualisation scheme following a stay order from the High Court. The High Court bench of Justice Mamnoon Haque issued the order following a writ petition filed on Monday by DSE director Ahmed Iqbal Hasan

Around 95 per cent Nordic companies doing business in Bangladesh are contemplating to increase their activities in the country in the coming three-year period, said a recent survey. Part of the reason for the plans to increase activities in Bangladesh could be that they experience higher profit opportunities here compared to

Dhaka stocks advanced for the third trading session on Tuesday with an increased turnover as the banks’ shares prices continued to rise on investors’ optimism fuelled by hopes of a political dialogue. The benchmark general index of Dhaka Stock Exchange, DSEX, added 0.95 per cent, or 37.63 points, to close the day at 3,989.14 points.

Syed Rafiqul Haq has recently joined Mutual Trust Bank as its deputy managing director, said a press release. Prior to joining MTB, he was the area head (corporate banking) of Eastern Bank, an organisation he had joined in 1998. Haq, who completed his MBA from the Institute of Business Administration at University of Dhaka after doing ... Read more

The cabinet on Monday approved in principle the draft of the Public-Private Partnership Bill-2013 that would allow ‘unsolicited proposals’ for development projects. ‘The Prime Minister’s Office placed the draft law to give an effective legal basis to the PPP project,’ cabinet secretary Mohammad Musharraf Hossain Bhuiyan

The prices of onion, green chilli and most of the other vegetables went up on the capital’s retail markets on disruption of supply chain due to a 60-hour general strike called by main opposition alliance, said traders. The prices of onion increased by Tk 20-Tk 30 a kg in the last two days, the first two ... Read more

Political unrest takes its toll also on disbursement Loan and grant commitments made by the international lenders and development partners and their disbursement dropped in the first quarter of the current fiscal year amid political unrest, officials of the Economic Relations Division said. The ERD data released on Sunday showed that commitments shrank by 73 per ... Read more

Sliding Credit Demand Of Businesses Bank credit-deposit ratio declines below 72pc The credit- or advance-deposit ratio in the banking sector declined to below 72 per cent in September as credit demand in the private sector continued to drop since the second half of the last fiscal year due to dull business situation in the country ... Read more

Petrobangla has floated tender for oil and gas exploration in three deep sea blocks —12, 16 and 21 — in the Bay of Bengal, offering international oil companies more commercial benefits and stake in the produces, officials said. In a notice, the state-run oil, gas and mineral resources corporation asked the interested IOCs to submit their ... Read more

The Department of Agriculture Extension has fixed a target of producing 86.50 lakh tonnes of winter vegetables in 4.40 lakh hectares land during this Rabi season throughout the country, official sources said on Monday. At the same time, special steps have been taken to make the programme successful through providing necessary assistance to the

Dhaka stocks advanced for the second trading session on Monday with an increased turnover as the shares prices of the banks and large capitalised companies jumped amid hopes of a dialogue between the prime minister and the leader of the opposition. The benchmark general index of Dhaka

Demutualisation DSE holds EGM today to approve interim board The Dhaka Stock Exchange will hold today an extraordinary general meeting to approve a 24-member ‘interim board’ of the bourse which will oversee the demutualisation process until the bourse’s next annual general meeting is held. The EGM will be held as per the Demutualisation Act-2013 enacted on ... Read more

Latin American country Chile has recently provided some least developed countries including Bangladesh with duty- and quota-free market access to that country, commerce secretary Mahbub Ahmed told New Age on Sunday. He said that the ministry received a letter in this regard from the Bangladesh mission to the World Trade Organisation in Geneva,

Bangladesh Bank on Sunday restructured the boards of directors of the scheduled banks and their responsibilities in accordance with the Bank Companies (Amendment) Act 2013. To this end, the BB issued a circular to chairmen and managing directors of all scheduled banks asking them to create three separate committees of

Fixed telephone operator RanksTel has recently applied to the telecom ministry for countrywide network mobility which, if approved, will allow the company to operate like a CDMA mobile phone operator without mobile service licence. RanksTel submitted the application to posts and telecommunications minister Shahara Khatun in July this year where

Biman Bangladesh Airlines is unlikely to reopen the suspended flights on five domestic routes in November as it failed to procure aircraft. Biman had initiated a request for proposal (RFP) thrice to take lease of two small, fuel efficient turbo-propeller aircraft for operating flights on