Business

Rate of clients’ complaint resolved by the Customer Services Division of Bangladesh Bank declined to 68.46 per cent in the FY 2012-13 against 93.82 per cent in the FY12. A Bangladesh Bank report released on Tuesday showed that the CSD had received a total of 4,296 complaints against scheduled banks and non-bank financial

The National Board of Revenue is set to provide tax privilege at the rate of 15 per cent for five years to asset management companies in a move to boost their role in the capital market, officials said. At its board meeting held in last week, the revenue board decided to provide the tax benefit ... Read more

The National Board of Revenue on Tuesday formed a committee to investigate the recent gold smuggling incidents at the country’s airports, officials said. Headed by the director general of Customs Intelligence and Investigation Directorate, the committee will find out reasons for the escalation in gold smuggling

Demutualisation Scheme Ctg bourse wants more brokers in board The Chittagong Stock Exchange on Tuesday proposed that the Bangladesh Securities and Exchange Commission should increase the number of member-brokers in its board once the bourse is demutualised. CSE president Al Maruf Khan told this after the final hearing over the demutualisation scheme of the port ... Read more

Dhaka stocks ended flat on Tuesday after fall in the previous five trading sessions as opening hype could not sustain against selling pressure after mid-session. The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,030.09 points, advancing by 0.22 per cent or 9.01 points. DS30, the blue-chip

Accord on Fire and Building Safety in Bangladesh, a consortium of European retailers and apparel brands, is likely to start inspecting the garment factories in Bangladesh in early November with a plan to complete the process within a year. A visiting delegation of the platform on Monday shared their initial action plan with Bangladesh Garments

Biman Bangladesh Airlines is now plagued with multifarious constraints due to severe cash crunch stunting its smooth operation and growth outlook, its managing director said in a letter to finance ministry last week. The letter sought policy support from the government and an immediate cash injection of around Tk 1,426 crore to stop ‘the collapse

Bangladesh Bank on Monday set interest rate on loans for onion import at 12 per cent till December 31 to increase supply of the vegetable amid soaring prices on the local market. The central bank in a circular to the managing directors and chief executive officers of all scheduled banks also asked them to set ... Read more

Tax Return Submission FBCCI for extending deadline to Oct 31 The Federation of Bangladesh Chambers of Commerce and Industry on Monday urged the government to extend the deadline for submission of income tax returns from September 30 to October 31. The apex chamber in a statement said that many of the new taxpayers were facing troubles ... Read more

Bangladesh Bank governor Atiur Rahman on Monday said the country’s Islamic finance market participants like banks and insurance companies must not get involved with influences that aid or abet ‘terrorism’. Atiur, at a seminar in the city, said that Islamic banks and financial institutions in Bangladesh are performing better than conventional ones. But,

The National Board of Revenue has collected a record Tk 1,117.40 crore in income tax, surpassing its target, from the nationwide income tax fair that ended on Sunday, according to NBR data. The revenue board also set records in providing services to people and receiving income tax returns at the fair although many of the taxpayers ... Read more

P1 Internet Pack 3 telcos violates BTRC order on price cut Three mobile phone companies —Grameenphone, Banglalink and Robi — have not complied with the Bangladesh Telecommunication Regulatory Commission’s order to reduce the price of pay as you go internet pack (P1) for subscribers, said BTRC officials. The BTRC in a meeting with the operators

But borrows Tk 6,000cr from commercial banks The government has borrowed around Tk 6,000 crore from commercial banks in the first two months but its net borrowing during the period posted a negative Tk 86.43 crore after it had repaid Tk 6,084.50 crore loan to Bangladesh Bank. BB officials said that the government repaid a significant ... Read more

Fixed income group people on Sunday made huge rush at the open market outlets of the Trading Corporation of Bangladesh to buy onion at Tk 55 a kilogram as the price of the item skyrocketed to Tk 95 a kg on the retail market. The TCB on Sunday started selling onion in the open market through ... Read more

The National Board of Revenue has formed a committee for formulating a guideline to examine if the newly established star-rated hotels can be provided duty benefits on import of furniture, equipment and other items needed for the hotels, officials said. The committee will recommend whether

The Extended Credit Facility (ECF) mission of the International Monetary Fund (IMF) on Sunday started discussions with finance ministry and Bangladesh Bank (BB) officials on macro-economic fundamentals and future reforms for attaining firm footings in the financial sector. IMF Deputy Division Chief of Asia Pacific Department Cubero Rodigo arrived

Dhaka stocks declined for the fourth trading session on Sunday with a decreased turnover because of panic driven sell-offs by investors as they feared further unrest on the political front. The benchmark general index of Dhaka Stock Exchange, DSEX, dropped by 60.92 points, or 1.48 per cent, to finish at 4,036.78 points on the day. DS30, the ... Read more

The Bangladesh Tourism Board is going to observe World Tourism Day 2013 on September 27 with a stress on promoting existing water bodies of the country as a tourism product. The board officials made the announcement at a press conference at Bangladesh Tourism Board office in the capital on Sunday. The theme of this year’s

The National Handicrafts Policy, which was formulated eliciting opinions of all stakeholders, will get final approval by next month. Industries minister Dilip Borua disclosed this while presiding over an inter- ministerial meeting on the policy at his ministry on Sunday.

The country’s trade deficit declined to $129 million in July, the first month of the current fiscal year 2013-14, from $476 million in the same month of the FY 2012-13 because of decreased imports of industrial raw materials, capital machinery and intermediary goods. Bangladesh Bank officials told New Age on Thursday