Business

The prices of some essential commodities remained volatile on the capital’s kitchen markets over the week ending Friday because of the celebration of Eid-ul-Azha on Wednesday. The prices of onion, green chilli and some spices shot up ahead of Eid. The prices, however, came down on Friday as the demand decreased, said retailers.

The import of rice skyrocketed in the first two months of the current financial year 2013-14 as the production of the food grain declined in the period than that of previous FY13 due to an unfavourable business situation for the farmers, said Bangladesh Bank officials. BB data released on Sunday showed that

Factory inspection likely to begin late this month The government and the International Labour Organisation are jointly going to launch a project to address the challenges the country’s readymade garments sector is facing now, labour ministry officials said. They said the project would be commenced on October 22. Under the project ‘improving working

Spice prices except onion and ginger remained stable on both the retail and wholesale markets ahead of Eid-ul-Azha. According to the traders, the supply of spices on the market is adequate as the items have been smuggled in huge quantity from India. Cumin, cloves, cardamom, black pepper

The rate of hunger reduction is slower than poverty reduction rate in the country while the decline rate in both cases has slowed down recently, said the local think-tank Unnayan Onneshan. In a recently released report titled ‘Poverty, Hunger, Nutrition, and Food Production in Bangladesh’, it also said rapid price increase of food items eroded

Spot orders from the global buyers at the 24th Bangladesh Apparel and Textile Exposition which ended on Saturday declined for the second consecutive year as many international buyers skipped the fair this year. Leaders of the Bangladesh Garment Manufacturers and Exporters Association on Sunday said the Batexpo received spot orders worth $58.37

Bangladesh Telecommunication Regulatory Commission has tightened payment rules for the international gateway operators by adding a clause to realise call tariff dues from performance bank guarantee. BTRC officials said the move came after the telecom regulator faced severe criticism from the government and the parliamentary standing committee for

The Bangladesh Securities and Exchange Commission has finalised a guideline for conversion of close-end mutual funds into open-end mutual funds as nine mutual funds under the Investment Corporation of Bangladesh move to grab the scope of conversion. The BSEC issued a directive in this regard on Thursday. Earlier in July an amendment to the

Indo-Bangla Jt Customs Meeting In Dhaka Bangladesh to seek removal of CVD on RMG, dev of Indian land ports Customs officials of Bangladesh and India will meet on October 21-22 in Dhaka with an aim to enhance trade facilitation mechanism including removal of non-tariff barriers and improvement of infrastructure at land ports and land customs ... Read more

The Bangladesh Bank on Sunday said that the scheduled banks would have to submit their audited financial balance sheets to the central bank within two months after the end of each calendar year. Previously the banks got three months to submit the reports. The BB issued a circular to managing

A memorandum of understanding was on Sunday signed for the relocation of leather industry at Hazaribagh to Dhaka Tannery Estate at Savar. The Bangladesh Small and Cottage Industries Corporation, Bangladesh Tanners Association and the Bangladesh Finished Leather Goods and Footwear

The Bangladesh Bank has accelerated its purchasing of US dollars from the scheduled banks to keep the inter-bank foreign exchange market stable ahead of Eid-ul-Azha. According to the latest central bank data, the BB bought dollar worth $328 million in the first 10 days of this month from the banks to offset higher supply

Bangladesh Bank on Sunday said that the scheduled banks would have to submit their confidential part of management report audited by external farms to the central bank within 75 days after end of each calendar year, instead of existing 90 days. The BB issued a circular to managing directors and chief executive officers of all scheduled ... Read more

Grameenphone on Saturday launched 3G service for its customers of selected areas in Chittagong and Sylhet on commercial basis. Grameenphone is the first operator to lunch 3G in Sylhet commercially, said a news release. Colourful processions were brought out in both the cities to mark the occasions. The Sylhet mayor, Ariful Huq Chowdhury,

The National Board of Revenue continued to struggle in revenue collection as it failed to attain its collection target in the first quarter of the current financial year that made the revenue officials worried about achieving the target set for the entire year, NBR officials said. They said in July-September, revenue collection

Traders on Saturday set the minimum price of rawhide of the sacrificial animals in the face of a threat from the commerce ministry of lifting the ban on export of the item. Leather sector leaders at a meeting at the Bangladesh Finished Leather, Leather Goods and Footwear Exporters Association’s office set separate rates for

The 24th Bangladesh Apparel and Textile Exposition-2013 ended on Saturday with spot order falling as global buyers gave the textile exposition the cold shoulder. Organisers and participants of the three-day event said the turnout of global buyers was thin this year amid political uncertainty and ahead of Durga Puja

The growth of share of the struggling industrial sector in the gross domestic product would decline in the current fiscal year reducing the GDP growth, said a local think-tank Unnayan Onneshan on Saturday. In the September issue of Bangladesh Economic Update, the UO predicted that the growth of manufacturing might decelerate further to 9.22 per ... Read more

The government should improve the quality of public expenditure and ensure equitable distribution of such expenditure among the different income groups of the society for gaining better results, said speakers in a dialogue in Dhaka on Saturday. In the dialogue on ‘Public expenditure accountability

Dhaka stocks decline for three weeks in a row Dhaka stocks declined last week, for three weeks in a row, with decline in turnover as no significant improvement took place in the political frontier which made investors panicky. The benchmark general index of Dhaka Stock Exchange, DSEX, declined by 2.66 per cent or 104.89 points, ... Read more