Business

Tazreen, Rana Plaza Victims’ Compensation IndustriALL, retailers meet postponed Two meetings between labour rights group IndustriALL and international retailers over compensation to the victims of Tazreen Fashions and Rana Plaza tragedies and their families, which were scheduled to be held in Dhaka on August 11 and 12, have now been deferred to September. Although no ... Read more

The owner of Japanese clothing chain Uniqlo announced Thursday it had signed up to a safety pact initiated by the European retailers covering Bangladesh’s disaster-hit garment factories, following criticism of its delay in doing so, reports Agence France-Presse. Fast Retailing said in a statement it had signed the Accord

The cellular phone operators will today submit application to the telecom regulator to participate in the 3G bidding. The deadline of the application submission would end today, after the regulator – Bangladesh Telecommunication Regulatory Commission – had extended the deadline for the third time, as it was scheduled to end on August 1.

Share trading at the Dhaka Stock Exchange resumes today after 6-day holiday on the occasion of Eid-ul- Fitr. The trading and official activities of DSE remained closed from August 6. According to a DSE web posting, trading hour from today will be 10:30am to 2:30pm when office hours will be 9:30am to 5:30pm as of ... Read more

The shipping ministry has sought approval of the cabinet committee on economic affairs for construction and operation of an inland container terminal at Khanpur in Narayanganj under a public-private partnership initiative, officials said. The proposal will be placed at the CCEA meeting to be held next week for its approval,

The Bangladesh Bank is perusing a contractionary monetary policy as per the prescription of International Monetary Fund which is reducing the capacity to fight economic challenges, said local think-tank Unnayan Onneshan on its latest issue of economic updates. It said the country’s economy is facing major challenges like declining gross domestic

The country’s point-to-point inflation in July declined slightly to 7.78 per cent from 7.97 per cent in June due to decline in both food and non-food inflation. Bangladesh Bureau of Statistics data released on Wednesday showed that food inflation declined to 8.48 per cent in July from 8.53 per cent in

Tour operators, hotels and airlines fear huge losses The tourism industry is set to face another blow due to the call for a two-day shutdown just after the Eid holidays as a huge number of tourists have cancelled their bookings at hotels and resorts across the country. “We receive the highest number of tourists during ... Read more

The foreign exchange reserve has swelled to a new record of $15.688 billion on the back of the rising trend of remittance inflows. According to Bangladesh Bank, the forex reserve stood at $15688.36 million on August 5. The government is now in a position to pay import bills for over seven months with

The commerce ministry has started working towards preventing entry of tainted milk through imports, a senior official said yesterday. The move comes after Fonterra, the world’s largest dairy producer, admitted that some batches of its infant formula and sports drinks contained a whey product contaminated by a bacteria that

HATIL Complex last month inaugurated a showroom in Sydney, Australia. The 1100 sqm store area will be used as both the display centre and warehouse of HATIL. It’s a milestone in the history of furniture industry of Bangladesh that a Bangladeshi brand crosses the boundary of the sub-continent and goes

To mark the Eid-ul-Fitr, Dhaka Regency is offering a special Eid package, said a press release. In this offer one can avail the first night at Tk 11,111 and the second night at Tk 9,999 and the package includes buffet breakfast, lunch and dinner for a minimum of 2 adults and 2 children. To celebrate ... Read more

RMG exports brave factory disasters The country’s single month export earnings hit a record $3 billion in July, the first month of the financial year 2013-14, riding on the performance of readymade garment sector that defied factory disasters, Export Promotion Bureau officials said. Provisional data from the EPB, which was sent to the commerce ministry ... Read more

Traders in different shopping malls of the capital are unhappy about Eid sales this year as the ongoing political unrest took toll on their business. According to the traders, the hottest items for any Eid are clothes but the sales of clothes were also very slow this year. General strikes

The National Board of Revenue is mulling to provide duty exemption on import of furniture, equipments and other items needed for newly established upper-graded hotels in a bid to promote tourism sector in the country, officials of the NBR said. They said the revenue board was considering the issue positively after getting applications

Retains 15pc VAT on 2G revenue sharing The National Board of Revenue has exempted the mobile phone operators from giving 15 per cent value-added tax on their revenue from 3G services to be shared with the Bangladesh Telecommunication Regulatory Commission, NBR officials said. The revenue administration, however, retained 15 per cent VAT on revenue from ... Read more

The prices of onion, sugar, ginger and milk powder witnessed fresh rise in the city’s retail markets on Tuesday due to an increased demand ahead of Eid-ul-Fitr, one of the biggest religious festivals for Muslims. The Eid will be celebrated on Friday or Saturday. The prices of vegetables, however, remained stable on adequate supply, traders

The inflow of remittance increased by 2.44 per cent to $12.30 billion in July, the first month of the current fiscal year, on year-on-year basis as the expatriate Bangladeshis remitted more US dollars in the period ahead of Eid-ul-Fitr, said officials of the Bangladesh Bank. According to the BB data released on Monday, the expatriates ... Read more

Experts question quality of hurried works ahead of election The implementation rate of the revised annual development programme in the last fiscal year 2012-13 increased to an 10-year high of 96 per cent as the government, keeping an eye on the general election, went into spending spree in June. The government agencies and departments spent ... Read more

Bourses’ 6-day Eid closure begins today Dhaka stocks gained on Monday, the last trading session before the Eid vacation, after a four-day fall as some institutional investors bought shares to avail lower prices of securities. Dhaka and Chittagong stock exchanges will remain closed in August 6-11 on the occasion of Eid-ul-Fitr, one of the biggest ... Read more