Business

Staff Correspondent The finance minister, Abul Maal Abdul Muhith, on Saturday said the government would take necessary measures for strengthening and developing the country’s capital market to make it a major source of financing

Staff Correspondent Industries minister Dilip Barua on Saturday said the government was mulling over formulation of a coordinated industrial policy aimed at keeping the wheels of economy running. ‘We want to focus more on our SME sector in the proposed industrial policy for facing [the impacts of] the ongoing global recession,’ the minister told the ... Read more

Sajjadur Rahman Nasir Glass Industries Limited (NGIL) exported more than Tk 20 crore worth of glass in 2008, a chunk of which went to the northeastern states of India. The country’s largest glassmaker that started commercial operations in September

Star Business Report Businessmen bagged Tk 20.59 crore ($3 million) worth of export orders from the 14th Dhaka International Trade Fair (DITF), which came to a close yesterday. “Spot orders show that the products showcased at the fair have international

Refayet Ullah Mirdha Top readymade garment (RMG) makers are optimistic about meeting the export target in the current fiscal year although exports of some other products from Bangladesh declined in July-December period. Woven garment surpassed the export target by 2.45 percent, knitwear 2.16 percent, terry towel 10.96 percent and textile fabrics by 8.16 percent during ... Read more

NATION BUSINESS REPORT The Bangladesh Bank has started closely monitoring the country’s real estate prices in the wake of drastic fall in housing prices worldwide, including the United States and neighbouring India. Even the International Monetary Fund has recently warned that the US housing downturn might deepen and lasted longer than previously forecast, and the ... Read more

NATION BUSINESS REPORT The total deposit of Islami Bank Bangladesh Limited (IBBL) reached at Tk 20,289 crore up to January of the current year, showing a growth rate of 22 per cent against the corresponding period of the last year. The total investment has reached Tk 20,555 crore, showing a growth rate of 15 per ... Read more

Sajjadur Rahman Bankers fear random import of low-cost yarn from neighbouring India will cost them heavily by making their clients defaulted. Banks have also tightened their grip on new lending to this sector to see the bad time of the industry, which had a consistent growth for the past one decade, bankers said. “Payment from ... Read more

Kazi Azizul Islam and Asif Showkat Economists and commodity importers on Wednesday suggested that the government should be careful before framing any policy to allow depreciation of taka, as it may fuel inflation and erode the customs revenue. If the government wants to encourage exporters and wage-earners abroad, they could be offered some other interim ... Read more

UNB, Dhaka The government has taken initiative to simplify the textual language of Income Tax, VAT and Customs rules and regulations for easy understanding of the stakeholders, as many shy away from paying taxes for legal encumbrance. “The language and attitude of the rules and regulations concerning Income Tax, Customs and VAT will be changed ... Read more

Star Business Report Leaders of the MCCI yesterday urged Industries Minister Dilip Barua to modernise the BSTI so that its certification is accepted worldwide for smooth running of international trade and commerce. At present, many countries especially India does not accept the certification of the state-owned Bangladesh Standards and Testing Institution (BSTI). As a result, ... Read more

Staff Correspondent The volatility in share prices of low-profile companies continued on Wednesday at the Dhaka Stock Exchange as retailers chased shares of ‘Z’ category companies to make some quick cash, market operators said. Dhaka stocks, however, finished downbeat on Wednesday for the third consecutive day in volatile trading. The DSE general index lost 1.46 ... Read more

Staff Correspondent The 6th Dhaka International Textile and Garments Machinery Exhibition is set to start on February 8 with suppliers from 30 countries participating in this top textile technology event in Asia. Some 600 suppliers or their local representatives will showcase their products at around 800 booths at the Bangladesh-China Friendship Conference Centre, organised by ... Read more

Sohel Parvez UAE-based carrier RAK Airways has shut down its operation in Bangladesh as global financial meltdown is causing a drop in demand for air travel, officials said yesterday. The closure of operation has forced about around 15 employees of the Dhaka office of the airline out of job. However, the carrier’s General Sales Agent ... Read more

United News of Bangladesh . Dhaka Finance minister AMA Muhith Sunday apprehended that it might not be possible to keep the exchange rate of taka against US dollar at current level due to the sharp devaluation of the currencies of major trading partners. ‘We want to keep the value of taka [at the current level]. ... Read more

Economists say Star Business Report Empowerment of the poor, mainstreaming informal economy and developing the agricultural sector are keys to poverty reduction through trade in South Asia. The observation came at a session of a seminar, chaired by Executive Director of the Centre for Policy Dialogue Professor Mustafizur Rahman. The session, “Future Work on Globalisation ... Read more

Staff Correspondent Dhaka stocks gained on Sunday in volatile trading despite the downtrend at the market persisting for the last four weeks. The general index of Dhaka Stock Exchange gained 12.20 points, or 0.46 per cent, to close at 2661.69, while its blue chips index, DSE20, advanced by 12.97 points, or 0.60 per cent, to ... Read more

Nur Uddin Alamgir, Ctg A three-day housing fair organised by REHAB concluded here in the port city on Saturday making a business of Tk 200 crore, with the organisers and participants expecting an additional Tk 100 crore from the intended

Staff Correspondent Theme Solution and Bangladesh Mobile Phone Business Association are going to organise International Telecom Fair 2009 in Sylhet in April 1-9 aiming to increase the number of cellphone users and businesspeople in the region, the organisers said on Sunday. ‘This is the first time such a fair will be held in Sylhet. Our ... Read more

Asif Showkat The finance ministry has given its consent to seek $75 million loan for fuel import from the Jeddah–based Islamic Development Bank with a six per cent mark-up rate, officials said on Thursday. The ministry has also suggested more negotiations with the IDB for reduction of the mark-up rate. The government will seek the ... Read more