Business

Non-resident Bangladeshis, representatives of their supportive organisations and local businessmen on Saturday said various hurdles including mal-governance and political unrest slowed down the pace of investment by the NRBs in the country. They were addressing a conference on recognition of NRBs

From Walmart Stores Inc and Gap Inc to Macy’s Inc and McDonald’s Corp, chains that cater to middle- and lower-income Americans say they are feeling the pinch of an uneven economic recovery, reports Reuters. A host of retailers have reported tepid sales lately, highlighting the stress that consumers are feeling because of higher payroll taxes, ... Read more

Dhaka stocks returned to the positive zone last week after four weeks in the red, but the turnover took a nosedive. DSEX, the key index of Dhaka Stock Exchange, added 71.72 points, or 1.83 per cent, in three trading sessions of the last week as the market was closed on Sunday and Thursday due to ... Read more

The price of onion marked fresh rise on the capital’s kitchen markets over the week ending Friday due to an extreme supply dearth. There is no possibility of decreasing the price of the item in the next three weeks till harvest of new onion in India, traders

Egypt’s tourism industry was facing meltdown on Friday as foreign governments ordered visitors to stay in their hotels and tour operators began cancelling trips to the crisis-hit country. Fears of nationwide unrest in the wake of a violent crackdown by the military-backed interim government earlier this week have resulted in a string of countries issuing ... Read more

Bangladesh and India are going to sign a deal for bilateral cooperation for the promotion of textile and jute sectors as textiles and jute minister Abdul Latif Siddiqui is set to visit New Delhi later this week, officials said. ‘He (Siddiqui) will leave here on August 19 to hold talks with his Indian counterpart KS ... Read more

The government has planned to implement a Tk 500-crore project to establish optical fibre cable network in 290 new upazilas by December 2015 without foreign assistance. ‘The government has prepared the Development Project Proposal for 290 upazilas of 64 districts to enhance the modern internet and information technology in the

The government is in favour of signing a preferential trade agreement with Indian Ocean rim countries as such a deal may bring positive outcome for Bangladesh in future, commerce ministry officials said. Quoting a study report on possibility of forming PTA among the countries of the Indian Ocean Rim-Association for Regional Cooperation conducted

Vat Collection NBR to intensify surveillance on company purchase The National Board of Revenue is going to intensify its surveillance on procurement of public and private limited companies to ensure collection of value added tax on their purchases, officials of the NBR said. The revenue board has already asked its field offices to prepare separate ... Read more

Credit Card Use For Online Transactions BB to ask banks to launch 2-step authentication process The Bangladesh Bank is going to make mandatory for the scheduled banks to introduce two-step authentication process for the use of credit cards for online transaction in a bid to tackle fraudulence. The BB will issue a circular next week ... Read more

The government plans to import onions from Nepal and Myanmar through the Trading Corporation of Bangladesh aimed at checking the essential’s price, officials said on Thursday. In local markets, onions were sold at Tk 60-65 per kilogram on Wednesday. Prices of locally produced onions were Tk 48 last week while imported (Indian) Tk 44.

The export earnings from furniture industry witnessed a 13.62-per cent negative growth in July, the first month of the current fiscal year, due to political unrest, industry people said. According to the Export Promotion Bureau data, the earnings from the furniture exports were $2.41 million in July of the current fiscal year 2013-14, 13.62 per ... Read more

About 25 per cent of the listed mutual funds have availed the opportunity of issuing stock dividends for re-investment to their unit holders, but poor dividends announced by them have dejected the investors as most of the units had lost prices in recent times. A mutual fund is a type of professionally managed collective

The country’s import bill payment registered a negative growth of 7.06 per cent in the fiscal year 2012-13 compared with that of an 8.96-per cent growth in the FY 2011-12 because of decreased import of capital machinery, industrial raw materials and food grains. According to the Bangladesh Bank data released on Wednesday,

Bangladeshi shrimp exporters on Wednesday expressed hope that they would be benefited because of imposition of additional duties on shrimp import by the US traders from four Asian countries, including India and Vietnam, and South American country Ecuador. Bangladeshi exporters would be able to increase its export

The Bangladesh Telecommunication Regulatory Commission is likely to modify the 3G auction process, bowing down further to the demand of the mobile phone operators, said BTRC officials. They said the operators were lobbying with the commission high-ups to turn things into their favour including elimination of phased auction

Bangladesh Bank has asked the scheduled banks to let businesses to allow export of their products by submitting export forms and shipping bills if they do not have letters of credit. To this end, the BB issued a circular to the banks’ head office or principle office of all authorised dealer branches on Tuesday after ... Read more

Bangladesh Bank’s financial inclusion policy has yet to get momentum as the number of inactive farmer accounts which were opened with a Tk-10 initial deposit increased notably in the last quarter of the just concluded financial year on year-on-year basis, said officials of the central bank. According to latest BB data, the number of the ... Read more

Dhaka stocks ended flat on Wednesday, the last trading session of the week, amid volatile trading as political clashes panicked the investors. The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 3,983.46 points, adding just 4.11 points, or 0.10 per cent.

The government has embarked upon a plan to set up a ‘BSCIC Printing Estate’ outlaying Tk 187 crore at Barbarta under Sirajdikhan upazila of Munshiganj district, according to the Ministry of Industries. The estate, first of its kind, would have 419 industrial plots and create 17,000 job opportunities during the project period of four years.