Business

Primark scraps contract over ‘safety concerns’ Many high street brands, including Next, Primark, George, Gap, H&M and Morrisons, used Aswad Composite Mills in Gazipur where nine garment workers were killed in a fire on Wednesday, the deputy manager of the factory told ITV News. AFP adds that a correspondent of the agency

The National Board of Revenue has failed to achieve its revenue collection target from income tax in the first quarter of the current financial year. In July-September, the income tax collection fell short by Tk 279 crore as the NBR managed to collect Tk 7,316 crore against its collection target of

Dhaka stocks finished on the up on Wednesday after four sessions in the red but the turnover continued to decline despite some state-owned entities’ efforts to boost the market. The benchmark general index of the Dhaka Stock Exchange, DSEX, gained 0.77 per cent, or 29.21 points, to close at 3,821.56 points.

Dse Trading 3 foreign cos make presentations on software to replace MSA Plus Three foreign companies on Wednesday made presentations on their online-based trading software before the Dhaka Stock Exchange which has taken a move to replace the bourse’s faulty software MSA Plus. The three foreign companies are NASDAQ Stock Exchange of the USA, Millennium ... Read more

The country’s export earning in the first quarter (Q1) of the current financial year 2013-2014 grew by 21.24 per cent year-on-year as the earning from readymade garment sector rebounded strongly in September after a gloomy August figure. Despite two RMG factory disasters and labour unrest,

Integrated supervision software introduced Bangladesh Bank on Tuesday introduced an integrated supervision software to bring all branches of the country’s scheduled banks and non-bank financial institutions under a web-based monitoring system in a bid to check fraudulent act. BB governor Atiur Rahman inaugurated the software

The International Monetary Fund on Tuesday cut further the projection of GDP growth of Bangladesh to 5.8 per cent in the current fiscal year 2013-2014. The lender in its October issue of World Economic Outlook 2013, released on Tuesday, cut the country’s GDP growth projection for this fiscal year for

The country’s readymade garment sector will achieve sustainable growth if more coordination between media and stakeholders are ensured, speakers said in a seminar in Dhaka on Tuesday. They said media access to garment industry can ensure transparency of the garment sector and help develop better workplace condition — a key issue which

The commerce ministry on Tuesday asked traders for setting a minimum and reasonable price of rawhide from sacrificial animals to be collected during coming Eid-ul-Azha so that people can get a fair price of the product, officials said. Fixing a reasonable price for per square feet of rawhide in consistent with international market will also ... Read more

Dawn Securities won’t get shares of demutualised bourse Bangladesh Securities and Exchange Commission on Tuesday fined a brokerage firm for short selling its clients’ shares and also decided to ask the bourses to take action against short selling by brokers. The BSEC decision came in a regular meeting of the commission presided over by its ... Read more

Bangladesh Securities and Exchange Commission on Tuesday approved the initial public offering of FC Agro Biotech for issuing 1.20 crore shares at the price of Tk 10 each. The BSEC decision came in a regular commission meeting presided over by its chairman M Khairul Hossain. The company will raise Tk 12 crore through

Bangladesh Securities and Exchange Commission on Tuesday directed the chief executive officers of the Dhaka and Chittagong stock exchanges to amend their respective extraordinary general meeting’s notice that named 24 members on their ‘interim board’. The proposed board could be restructured if

Dhaka stocks declined for the firth trading session on Tuesday with the DSEX falling below 4,000 points after four and a half months as investors continued to sell-off shares apprehending political unrest ahead of the next general elections. The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 1.68 per cent, or 64.89 points, ... Read more

Bangladesh Textile Mills Association on Sunday demanded that the government should reduce the insurance premium for textile mills considering their contribution in the export industry. A delegation of BTMA met the Insurance Development and Regulatory Authority chairman M Shefaq Ahmed on the day and placed their demand,

The country’s leading mobile operator Grameenphone on Tuesday launched 3G service on commercial basis in the Bashundhara and Baridhara areas in the capital. The GP brought out a bicycle procession in the Bashundhara residential area to mark the occasion while brand promoters of the company also

High interest of banks has created stagnancy in the business sector as new ventures or expansion projects are failing to ensure return with such rates, said businessmen in a seminar in Dhaka on Monday. The government should come up with a solution to heal the crisis as the banks are holding excess funds but could ... Read more

The country’s eight Islamic banks will be able to get refinance fund for the first time from Bangladesh Bank for rural area-based agro-processing and small industries. The BB will hold a meeting with the senior officials of the Islamic banks today in this regard and it (central bank) will issue a circular by this week,

The point-to-point inflation dropped further in September, third month in a row this fiscal year, to 7.13 per cent from 7.39 per cent in August mainly because of decrease in both food and non-food inflation, Bangladesh Bureau of Statistics said on Monday. In July this year, the point-to-point inflation

Bangladesh Tariff Commission has recommended for withdrawal of 20 per cent supplementary duty on import of cardamom and cumin to keep the market of these two essential spices stable. The tariff body also suggested the commerce ministry for strengthening market monitoring activities so that prices of the products remain affordable to the

The country’s leading mobile operator Grameenphone will launch the 3G service on commercial basis in the Bashundhara and Baridhara area today with a plan to expand the network 64 districts by March next year. The company will launch the 3G service in other areas of Dhaka and Chittagong along with Gazipur and Narayanganj within the ... Read more