Business

Dhaka has sought duty- and quota-free market access for its 24 selected products, mainly readymade garments, to Bangkok in a bid to boost export to Thailand and increase bilateral trade, commerce ministry officials said. The commerce ministry has recently requested the country to allow such access of the

Persistent political chaos, perennial power and energy shortage and undeveloped and inadequate infrastructure continue to disrupt the economic growth of the country, said Metropolitan Chamber of Commerce and Industries in its quarterly review released on Tuesday. The export and import sectors are now facing a tough situation as majority of the banks

The country’s foreign exchange reserves soared past $16-billion mark on Tuesday after Bangladesh Bank brought another $576 million in last one month amid slumping value of the dollar and dwindling import in poor business environment. The reserves, which raced past $15 billion in May after the central bank had brought around

The government’s tax collection from the Dhaka Stock Exchange increased by12.30 per cent in July, the first month of the financial year 2013-2014, thanks to the bourse’s increased turnover. DSE paid taxes worth Tk 18.44 crore in July, including taxes on turnover and gain tax from sponsors-directors share sell, while it was Tk 16.42 crore ... Read more

The Executive Committee of the National Economic Council on Tuesday approved an industry ministry proposal to double the cost of tannery relocation project to Tk 1,079 crore for adjusting increased cost for delay in its implementation. The ECNEC, headed by prime minister Sheikh Hasina, in a meeting also approved eight

Dhaka stocks advanced on Tuesday, the second straight session after the Eid-Ul-Fitr holidays, amid higher turnover as investors’ participation increased on the belief that the market won’t fall further. DSEX, the benchmark general index of the Dhaka Stock Exchange, finished at 3,979.35 points on Tuesday, gaining 1.59 per cent, or 62.51 points, a contrast to ... Read more

Realtors are slashing apartment prices in a bid to revive the housing sector. “The apartment prices in Dhaka are around 25 percent cheaper now than three years ago,” said Toufiq M Seraj, managing director of Sheltech (Pvt) Ltd, a real estate company. In 2010-11, each square foot of a flat was trading at Tk 16,000 ... Read more

The Dhaka Chamber of Commerce and Industry on Tuesday urged Nigeria to import Bangladeshi products particularly ceramics, chemical products, leather goods, footwear, light engineering and plastic products, ocean-going vessels, pharmaceuticals and cement. DCCI president M Sabur Khan made the request when Nigerian high commissioner to

Emirates airline has started to roll-out ‘Google Now’ cards for their passengers who book via Emirates.com. Google Now is like a smart personal assistant, giving users exactly the travel information they need with minimum effort. The app reminds passengers of their upcoming flight, providing flight times and departure terminal. It will also give passengers relevant

Premier Group of Company will establish Hilton Dhaka, a five star hotel at Gulshan in the capital soon, said a press release. The ground breaking ceremony of the hotel took place in the city recently. Home minister Mohiuddin Khan Alamgir, civil aviation and tourism minister Faruk Khan, US ambassador Dan W Mozena and deputy high ... Read more

Delay in implementation, govt move to benefit tannery owners blamed The government is set to raise the cost of tannery relocation project by 100 per cent to Tk 1,078.71 crore because of its move to benefit tannery owners and the delay in implementation of the project. The planning commission is likely to place today an ... Read more

The government is desperately trying to expand its labour market particularly into the East Asian countries, including Indonesia, Singapore and Brunei, in the backdrop of downward trend in its manpower export, Bureau of Manpower, Employment and Training sources said. The sources told New Age that a high-level Bangladeshi team

Bangladesh Bank on Monday issued a rule saying that the scheduled banks could not purchase immovable properties if the value of their existing fixed properties crossed 30 per cent of their paid-up capital. To this end, the BB issued a circular to managing directors and chief executive officers of all the banks saying that the ... Read more

Despite the little presence of customers, the price of onion shot up in the capital’s kitchen markets after Eid-ul-Fitr due to supply shortage and increasing price in India. The prices of other essential commodities including vegetables, broiler, sugar and egg also increased in the city’s retail markets. Traders said that

Familytex (BD) Limited, which was last week served a show-cause notice by the BSEC on charge of violating listing condition by making a decision on dividend declaration before listing, on Sunday indicated that the Dhaka and Chittagong stock exchanges had misinterpreted the company decision on dividend.

Dhaka stocks inched up on Monday, the first trading session after the Eid-Ul-Fitr, but the turnover hit a two and a half months’ low due to poor investors’ participation. The turnover of the Dhaka Stock Exchange plummeted 24.58 per cent to Tk 162.29 crore from the previous trading session’s Tk 215.20 crore.

The export earnings from readymade garments that included woven and knitwear increased by 26.13 per cent to $2.51 billion with an impressive export growth in July, the first month of the current financial year 2013–14, from $1.99 billion in the corresponding period of the FY 13. The overall export earnings in July stood at $3.02 ... Read more

Proposed 3g Service NBR cuts VAT on fees to 5pc The National Board of Revenue on Sunday slashed again the proposed VAT on the 3G licence fees to 5 per cent from 7.5 per cent. In this regard, the NBR issued a statutory regulatory order on the day, a day ahead of the Monday deadline ... Read more

Green Banking BB asks NBFIs to frame polices by June ’14 Bangladesh Bank on Sunday published a set of policy guidelines on green banking for non-bank financial institutions with a view to establishing green banking practice in the country. To this end, the BB issued a circular to managing directors and chief executive officers of ... Read more

The government has initiated a new project to develop the country’s two important land ports – Benapole and Burimari – as part of the regional road connectivity programme under the South Asia Sub-Regional Economic Cooperation (SASEC) funded by Asian Development Bank (ADB). ‘The SASEC road connectivity programme is a big development