Business

718 fake TIN using businessmen detected The National Board of Revenue is going to take stern action against the users of fake taxpayer’s identification number amid an allegation that many business firms and individuals have been using false TINs, officials said. The revenue board has recently formed a committee to recommend what kinds of measures can ... Read more

New pay scale to put pressure on inflation Bangladesh Bank on Tuesday said that there was investment stagnancy in the country in the outgoing year of 2014 due to political turbulence, general strikes and blockades in 2013. It also warned that an upward pressure on inflation will remain in the new year of 2015 due ... Read more

Card-Based Transactions BB to ask banks to follow int’l security standard of PCI Bangladesh Bank will ask scheduled banks to follow the international security standard while operating their card-based transactions to avoid fraudulent acts and forgeries, central bank officials told New Age on Tuesday. Major card brands including American Express, Discover Financial Services, Japan Credit Bureau, ... Read more

The small-scale investors affected by 2010-11 market crash are yet to recover losses although the market recovered some grounds during 2014, experts have said. The key index of Dhaka Stock Exchange, DSEX, advanced by 13 per cent over the year to finish at 4,865 points on December 30 after beginning the year

Dhaka stocks advanced for the second trading session on Tuesday with increased turnover amid institutional investors’ active participation on the trading floor due to year end portfolio rebalancing. The key index of Dhaka Stock Exchange, DSEX, finished at 4,864.96 points, adding 1.05 per cent or 50.80 points. Market operators said that Tuesday’s market was mostly driven

Traders smell rat in ‘unnecessary import’ The import of rice increased by 295 per cent to $63.59 million in November this year from $16.07 million in the same month a year ago, although the government has started to export rice to Sri Lanka for the first time. According to Bangladesh Bank data released on Monday apart ... Read more

BTRC launches enquiry The telecom regulator has launched an enquiry into the mobile phone operator Grameenphone’s move to sell its old numbers at prices up to Tk 30,199 per connection. Bangladesh Telecommunication Regulatory Commission officials said such high prices for SIM connection were not permitted by the BTRC. They said

Dense fog and chilly weather are likely to harm rice seedlings and the standing crops of potato, tomato and mustard, said the Department of Agricultural Extension officials. They said that potato output could drop due to early or late blight disease. Alternaria blight disease could affect mustard and leaf blight

Bangladesh Bank has asked scheduled banks and non-bank financial institutions not to close incomplete KYC (know your client) accounts which were opened before April 30, 2002 as some banks has recently taken move to seal the accounts violating the banking rules and regulations. The BB issued a circular to managing directors and

BSEC may decide about the request Wednesday The Dhaka Stock Exchange on Monday put forward a proposal that the Bangladesh Securities and Exchange Commission should allow single-scrip netting facility at the bourse as the new trading system introduced by the DSE is capable of preventing misuse of the scope. The bourse made the proposal after ... Read more

Dhaka stocks ended positive on Monday after a three-day fall with an increased turnover amid a lacklustre countrywide dawn-to-dusk shutdown enforced by the Bangladesh Nationalist Party-led alliance. The key index of Dhaka Stock Exchange, DSEX, finished at 4,814.16 points, gaining 0.26 per cent or 12.81 points. Turnover at the bourse increased to Tk 189.58 crore on Monday

BB Circular On Money Launbering, Terror Financing Banks to monitor accounts of head of state, top officials, politicians Bangladesh Bank on Sunday asked scheduled banks to monitor the bank accounts of head of state, politicians and influential persons on regular basis to prevent money laundering and terrorist financing. The BB issued a master circular in line ... Read more

Recapitalisation Fund For Scam-Hit State-Owned Banks BASIC to get Tk 790cr, Sonali Tk 710cr this week The finance ministry is set to inject Tk 1,500 crore into the two state-owned commercial banks—Sonali and BASIC—soon to shore them up from capital crunch and keep them afloat. The recapitalisation fund would be released this week, a senior official ... Read more

Safta Trade Liberalisation B’desh cuts customs duty on 4,610 items for ’13, ’14 The government has cut the customs duties on 4,610 products for 2013 and 2014 calendar years for trade under the South Asian Free Trade Area, officials of the National Board Revenue said. They said that the revenue board on December 17 issued a ... Read more

ADB to lend $250m for the programme The government plans to embark on an ‘inclusive capital market reform programme’ with participation of pension and provident funds and introduction of Islamic bonds to energise the ailing stock business. Six broad areas of policy interventions are the salient features in the planned reforms under an ADB-financed programme, a ... Read more

SOF to be used to reach telecom facilities to disadvantaged people The government has finalised the rules for social obligation fund, an amount of Tk 500 crore contributed by the telecom operators, with a provision to form an 11-member committee to manage and utilise the money. The SOF will be used to reach the telecommunication facilities ... Read more

Defaulted loans in the country’s agriculture sector stood at Tk 5,854.38 crore as of November 30, 2014 which accounted for 19.55 per cent of the total loans disbursed (Tk 29,945.44 crore) in the sector. The farm sector defaulted loans accounted for 18.22 per cent of the total loans (Tk 34,632.82 crore) disbursed in the sector as ... Read more

The prices of chicken and mutton shot up in the city’s kitchen markets over the week ending Friday as their demand increased due to rise in social and year-end recreational programmes, traders said. The price of broiler increased sharply to Tk 145-155 a kg on Friday while it was retailed at Tk 115-Tk 120 a kg ... Read more

The finance ministry has approved the commerce ministry’s proposal to collect value-added tax on edible oil at only one stage of supply chain of the product to reduce hassle businesses face in paying VAT at different stages, officials said. The facility may be given for one and a half years upto June 2016, they said. Officials said ... Read more

The net investment in national saving certificates and bonds surpassed Tk 10,500 crore in just five months (July-November) of this financial year 2014-15 as clients continued to invest heavily in the NSCs due to low bank deposit rates and sluggish business climate. According to the Directorate of National Savings data