Business

Thirteen years after the 9/11 terrorist attack, the resurrected World Trade Center is again opening for business — marking an emotional milestone for both New Yorkers and the nation. Publishing giant Conde Nast will start moving Monday into One World Trade Center, a 104-story, $3.9 billion skyscraper that dominates the Manhattan skyline. It is America’s ... Read more

Latest Spate Of Strikes Apparel exporters fear shipment delay, losses Apparel exporters fear losses as production and shipment are being interrupted due to the latest spate of the general strikes being enforced by the Bangladesh Jamaat-e-Islami. Jamaat is enforcing the strikes in protest at the punishment handed down to its leaders by international crimes tribunals. ... Read more

Says the move taken to help relocate tanneries to Savar soon Bangladesh Bank on Sunday relaxed the loan repayment and rescheduled policy for the debt-burdened tannery industries which have already been relocated or under the process of relocation to designated Modern Leather Industrial City at Savar from the Dhaka city. The BB issued a circular ... Read more

The move taken for non-payment of workers’ wages, service benefits The government is likely to file a case with court today against the owner of Tuba Group, Delwar Hossain, for non-payment of wages and service benefits to the workers of his five garment units and non-compliance with the labour law. ‘We have no option but ... Read more

Int’l Call Termination Cut rate to be effective from order date The telecom ministry on Sunday made it clear that the slashed revenue sharing and international call termination rate would be effective from September 18 despite desperate attempt by a cartel of IGW operators to get a retrospective effect from July 1. Bangladesh Telecommunication Regulatory ... Read more

The National Board of Revenue on Sunday extended again the deadline for submission of income tax returns for individual taxpayers by one month. The income taxpayers will be able to file their returns till November 30, according to an official order of the NBR. The deadline which was earlier extended to November 2

Industrial productions and business activities across the country were severely hit by a countrywide blackout on Saturday. A large number of the manufacturing units like readymade garment factories and textile and steel mills were shut down while many of them faced disruption in production across the country due to the outage. The banking service through ... Read more

ABB seminar on banking identifies Financial market experts at a seminar on Saturday said that lack of monitoring, moral decay, credit concentration and risk management were the key challenges for the future banking in Bangladesh. In the seminar on banking titled ‘future vision’, they said fraudulent activities of same nature were taking place in the ... Read more

The banking service through automated teller machines and card-based transactions collapsed on Saturday because of the country-wide power outages. As Saturday was weekly holiday for banks the normal banking service, however, was not affected, said bankers. In many businesses, where POS (point of sale) machines are

The Bangladesh Securities and Exchange Commission will rerun investigation against the unusual price hike of Shahjibazar Power Company, BSEC chairman M Khairul Hossain said on Saturday. ‘We had suspended the trading of Shahjibazar shares as the company provided fabricated information. As we opened it after having correction is no reason for abnormal price hike now,’

The National Board of Revenue on Thursday rescinded two orders it issued transferring 27 income tax commissioners following stern opposition from finance minister Abul Maal Abdul Muhith to such major reshuffle without taking his opinion, NBR officials said. They said that Muhith raised questions over such a major

Revenue board, central bank take the move to check money laundering, fraudulent acts The National Board of Revenue and Bangladesh Bank have taken an initiative to conduct all types of import and export related procedures through online system instead of exiting manual system in a bid to check money laundering and fraudulent acts. The importers ... Read more

Winter vegetables have started to arrive in the city’s kitchen markets but the items remained dearer to the low- and middle-income group of people due to higher prices. The price of green chilli also increased over the week in the capital’s kitchen markets. Traders said the supply of winter vegetables including

Farm loan disbursement decreased by 3.88-per cent in the first quarter of the current financial year 2014-15 compared with that in the same period of the FY14 while 18 scheduled banks disbursed agriculture loan below 10 per cent of their target. According to the Bangladesh Bank data released on Thursday, farm loan disbursement by all ... Read more

Two-thirds of taxpayers yet to file returns with one work-day remaining Around two-thirds of the registered income taxpayers have not filed their income tax returns with one day left before the end of the scheduled deadline on Sunday, officials of the National Board of Revenue on Thursday said. Out of the 13.30 lakh taxpayers registered ... Read more

3-day regional confec on graduation ends The least developed countries need to reduce aid dependency and emphasis on local resource mobilisation for graduation to the middle income countries, said officials after a three-day regional conference on financing graduation gap of LDCs in Dhaka on Thursday. The Economic Relations Division in association with the

The ministry of finance has turned down a proposal of the IMF on issuance of a gazette notification by December outlining a timeframe for implementing the VAT Act as the move triggered a furor among business community. The firm stance of the finance ministry has been conveyed to the multilateral lending agency last week as ... Read more

The implementation rate of annual development programme hit its five-year low in the first quarter of this fiscal year as only 9 per cent of the total allocation was used in the July-September period. According to the data of the Implementation Monitoring and Evaluation Division of the planning ministry, 55 government ministries and divisions could ... Read more

Repayment Of Bank Loans BSEC bars cos from using more than one-third of IPO fund The Bangladesh Securities and Exchange Commission on Wednesday barred any company from using more than one-third of its initial public offering money for repayment of bank loans. The capital market regulator decided to impose the condition in a regular commission ... Read more

Ranks 173th out of 189 countries Bangladesh has been ranked at 173th position, downgrading by three notches, among 189 countries in the World Bank group’s latest global ranking on the ease of doing business, according to a report of the lender released on Wednesday. The country performed woefully in almost all of the sub sectors ... Read more