Business

The prices of edible oil, onion and garlic went up in the capital’s kitchen markets over the week ending Friday. Traders said that the refiners increased the prices of bottled soya bean oil and the prices of onion and garlic increased due to supply shortage as nationwide blocked disrupted supply chain. The prices of bottled soya ... Read more

To focus on financial inclusion programme amid dull business Bangladesh Bank may keep unchanged the private sector credit growth target in the upcoming monetary policy for January-June of 2015 considering the existing lower credit demand from the private sector amid political unrest and uncertainty, said officials of the central bank. Under the monetary programme for ... Read more

15,000 cases involving Tk 26,000cr await settlement The government has decided to appoint a panel of lawyers at the National Board of Revenue to conduct tax-related cases to recover huge amount of revenue, officials said. The Internal Resources Division of the finance ministry at an inter-ministerial meeting on January 6 took the decision for speedy ... Read more

Has to kill one crore chicks each week The poultry industry has been facing serious setbacks with small and medium farmers incurring losses unable to sell chicken and eggs to due to transport problems caused by the nationwide blockade. About one crore one-day old chicks, worth Tk 30 crore, had to be killed in one week ... Read more

Dhaka stocks finished flat on Thursday, the last trading session of the week, with a decreased turnover as investors remained shaky amid a dawn-to-dusk general strike enforced by the BNP-led alliance. The key index of Dhaka Stock Exchange, DSEX, closed at 4,956.09 points, adding 0.08 per cent or 4.40 points on the day. Turnover at the bourse, ... Read more

The IMF is set to quit the ECF programme soon as the government has failed to commit implementation of roadmap for the new value-added tax act, suggesting a bitter relation between the government and the lending agency. The pre-mature ending of the reform programme that was undertaken about three years back to bring about regulatory changes ... Read more

The National Board of Revenue and Bangladesh Bank are going to introduce electronic letters of credit to prevent use of fake LCs as well as to facilitate importers and exporters in smooth international trade, officials concerned said. They said the system would check tax dodging through submitting fake LCs to the customs offices. The online or e-LC ... Read more

BB frames draft policy Scheduled banks will have to take CIB clearance from Bangladesh Bank to issue credit card to their clients so that a single client cannot avail a number of cards from different banks violating the regulation, according to the central bank’s credit card draft policy. As per the central bank regulation, a ... Read more

The index committee of Dhaka Stock Exchange has recommended that 18 new companies should be included in the bourse’s broad index, DSEX, and five companies in the blue-chip index, DS30. The DSE index committee on Monday made the decision as per the S&P Dow Jones Indices-set criterion which will be effective from January 18, a DSE ... Read more

Cuts global outlook Bangladesh’s economy will expand steadily in the next three years, with the growth of the gross domestic product rising to 7.0 per cent in 2017, according to the latest report of the World Bank. The report, Global Economic Prospects 2015, released in Washington DC on Tuesday (early Wednesday in Bangladesh), projects that GDP ... Read more

The country’s trade deficit in the first five months of the current financial year 2014-15 soared to $4.48 billion, equalling the previous record registered in July-November of the FY12 due to a massive drop in export earnings against higher import payment. According to Bangladesh Bank data released on Tuesday,

The Planning Commission has issued guidelines on the revised annual development programme for the current fiscal year aimed at strict adherence to projects seeking enhanced resources. The latest regulations, issued past week also focused on the priority sectors in the economy to be considered favourably in the RADP. Original allocations from the slow performing projects

The contrary’s exports to India in the first half of the current financial year 2014-15 increased by 41.10 per cent to $257.48 million from $182 million in the corresponding period of the FY14 riding on jute and jute goods. According to Export Promotion Bureau data, the exports of jute and jute goods to India in July-December ... Read more

Bangladesh Bank has said the scheduled banks will not require taking prior permission from the central bank to set up electronic booths including automated teller machines. The BB on Tuesday issued a circular to managing directors and chief executive officers of all banks asking them to take prior approval from their respective board

The Bangladesh Securities and Exchange Commission on Tuesday formed two committees to investigate the unusual price hike of shares of Alltex Industries and Northern Jute Manufacturing Company. Both the committees were asked to submit reports within 15 working days, said a BSEC press release. A commission meeting led by its chairman M Khairul Hossain made

The Bangladesh Securities and Exchange Commission on Tuesday fined two brokerage firms of the Chittagong Stock Exchange Tk 7 lakh each for violating securities rules. The decision was taken in a regular commission meeting headed by the BSEC chairman M Khairul Hossain, said a BSEC press release. The BSEC fined Hillcity

HATIL, a leading furniture brand of the country, has introduced a wide range of designs on the occasion of Dhaka International Trade Fair 2015, said a news release. HATIL has introduced a number of new designs in all categories of home furniture like sofa, dining set, bedroom set etc which ensure optimum utilisation of space,

RMG exports plummet by 3.5pc in Jan-Nov The country’s apparel exports to the US market in the 11 months of 2014 fell by 3.50 per cent to $4.48 billion against $4.65 billion in the same period of 2013 due to sluggish demand for apparel in the market and compliance issue in Bangladesh. In the period, Vietnam ... Read more

The government’s net borrowing from the banking sector turned negative in the first half of this financial year because of surge in the net investment in the national savings certificates and bonds. According to the Bangladesh Bank data released on Sunday, the government made no net borrowing from the banking sources in the July-December period of ... Read more

Large Taxpayer Unit (value-added tax) of the National Board of Revenue has sought instructions from Attorney General Office on realising additional Tk 49.53 crore accrued as interest of unpaid VAT from the mobile phone operator Grameenphone, officials said. In mid-December, the LTU sought suggestions from