The National Board of Revenue is going to relax a rule for the importers of brand new cars that was incorporated in the latest budget to prevent tax dodging through under invoicing. NBR officials said the board is going to recommend the finance ministry to allow importers to produce to customs department invoices certified by ... Read more
Business
Nokia browser-enabled handset hits market
Nokia yesterday launched its first series of dual sim handset with built-in Nokia browser in Bangladesh, the company said in a statement. The phone — Nokia C2-03 — is priced at Tk 7,900. It is S40-based slider with advanced features, including 2.6 inch QVGA resistive touch screen display, GSM / GPRS / EDGE connectivity and ... Read more
DSE remains closed in Aug 26-Sept 3
The Dhaka Stock Exchange will remain closed from August 26 to September 3 on the occasion of Shab-e-Qadr, Eid-ul-Fitr, weekly holidays and a special holiday, said a news posted on the DSE web site on Wednesday. The positing said the trading at the bourse would resume after the nine-day closure on September 4 as per ... Read more
Bangladesh to host SAARC tourism Mart in Dec
Bangladesh will host SAARC Tourism Mart in December this year to project entire South Asia as a single brand of tourist destination in front of the international tourists. ‘As per decision of SAARC tourism ministerial on tourism in Colombo in 2009, we will organise the SAARC tourism fair in Dhaka in December next,’ civil aviation ... Read more
Mobile cos’ licence fees decreased to Tk 7,500cr
Govt to hold open auction for 3G licence The government has slashed the licence renewal fee of four mobile companies to around Tk 7,800 crore from the proposed Tk 12,118 crore. A high-powered meeting on Tuesday, with Prime Minister Sheikh Hasina in the chair, decided to set the renewal fee for 2G (second generation) licence ... Read more
Stocks slide again in volatile trading
The general index of Dhaka Stock Exchange slid again on Tuesday, a day after it was pulled up by some institutional investors, in volatile trading as some investors went for late sell-offs because of uncertainty over the market behaviour and the regulators filing cases against stock manipulators. The benchmark general index of Dhaka bourse, the ... Read more
Tax return submission deadline Sept 30
The National Board of Revenue has set September 30 as the deadline for submitting tax returns for the last financial year. Officials of NBR said that the board would organise tax fairs in divisional headquarters before the deadline expires after it successfully held a fair in the city last
Export earnings up by 28pc in July
Export earnings of the country stood at $ 2,339.52 million in July 2011 increasing by 28.70 per cent over the earnings in July 2010. Export Promotion Bureau on Monday released the latest figures of export that showed the earning was 7.40 per cent higher than the target of $ 2178.30 million set for
Stocks rise but turnover drops
The participation of some institutional investors on Monday kept the Dhaka stocks afloat, although the turnover of the bourse slumped to one-and-a-half-month low due to lack of participation of general investors. The DGEN, the benchmark general index of Dhaka Stock Exchange, gained 103.78 points, or 1.69 per cent, to close the day at 6,223.94 points, ... Read more
Call drops irk mobile users
Mobile phone users have been facing bad voice services, like call drops, for quite some time. Bangladesh Telecommunication Regulatory Commission (BTRC) logged a number of complaints from subscribers of mobile operators, said an official of the commission. As the mobile operators are providing services beyond their capacity, call drops are ocurring — both
Stocks: a week in red ink
Dhaka stocks declined 4.98 percent last week, triggered by panic sell-offs. Fears of a further market fall ran deep among investors. The benchmark general index, DGEN of DSE, closed at 6,259 points, after declining 327.91 points for huge sell-offs. In an attempt to bring more discipline to the market, the Security and Exchange Commission
Dhaka stocks fall with a flop again
Investors demo, blame SEC for creating panic Volatility returned to the trading floor of the Dhaka bourse on Thursday, after Wednesday’s heavy gains, pulling down the general index sharply that prompted the angry investors to take to the streets for the second day in the week. The DGEN, the benchmark general index of the Dhaka ... Read more
Internet price cut 16pc, market sees minor impact
Internet price has been slashed down by 16.66 percent and set at Tk 10,000 per megabits per second (Mbps) from Tk 12,000 before for leased internet access via submarine cable. But the cut in prices would have minor impact on the end users, as the operational cost is still high. In a notification, Bangladesh Telecommunication ... Read more
NBFIs asked to inform BB about top loan defaulters
The Bangladesh Bank on Thursday asked the non-bank financial institutions to submit to it the latest information about the top-10 loan or lease defaulters every quarter. A circular of the BB Department of Financial Institutions and Markets also gave a specific table to be used by the NBFIs in preparing the
Investors take to streets again in fear of another debacle
DGEN plummets by 174 points, SEC advises investors not to panic Aggrieved share investors staged rowdy demonstrations on the streets of Motijheel on Tuesday when the general index of Dhaka Stock Exchange plummeted by 174.65 points, stretching the bear-run to seventh day because of panic-driven sell-offs. Some of the investors could not hold their nerve ... Read more
DSE falls for 6th day on rumour of large-scale disinvestment
A panic caused by a rumour that some of the heavyweight players were going for massive disinvestment following the news that the Securities and Exchange Commission was preparing to take legal actions against market manipulators during the last stocks debacle pulled down the Dhaka stocks on Monday. The benchmark general index of the Dhaka Stock ... Read more
HSBC to axe 30,000 jobs despite pre-tax profits rise
Banking giant HSBC has said it will cut another 25,000 jobs by 2013 and exit operations in 20 countries as it looks to save billions of dollars. The announcement came as the bank reported pre-tax profits for the first six months of the year of $11.5bn (£7bn), up 3% on the $11.1bn the bank made ... Read more
Profit taking pulls down stocks
Dhaka stocks continued to go through price correction yesterday for the fifth consecutive day with almost 2 percent decline. While declaration of less-than-expected earnings by some listed firms frustrated investors, a rumour on a regulatory action based on recent stockmarket probe report frightened many others,
DSE opens corporate governance dept
The Dhaka Stock Exchange on Sunday opened corporate governance and financial reporting department to bring more transparency among listed companies. Securities and Exchange Commission chairman Khairul Hossain inaugurated the department which will examine mainly financial reports submitted by the listed firms. The listed firms are required to
Mobile operators’ token of love for quake-hit Japan
Mobile operators of Bangladesh yesterday donated more than Tk 1 crore to the earthquake-ravaged Japanese people. Foreign Minister Dipu Moni handed over a cheque for Tk 10,224,891 to Japanese Ambassador Tamotsu Shinotsuka at a function at Ruposhi Bangla Hotel in