Business

Revenue collection grew by 16 per cent to Tk 28,220 crore in the first three months of the current fiscal year 2014-15 due to increased receipts in September. The National Board of Revenue had collected Tk 24,354 crore in the same period of the last fiscal year, according to NBR data. ‘The improvement in collection

Issuance of bonds worth Tk 1,000cr by 4 banks also approved The Bangladesh Securities and Exchange Commission on Wednesday allowed two entities to raise capital worth Tk 217.72 crore and four banks to float non-convertible bonds worth Tk 1,000 crore. As per the BSEC approval, First Security Islami Bank will issue one rights shares against ... Read more

United Power, audit firm, asset manager fined for IPO doc fabrication The Bangladesh Securities and Exchange Commission on Wednesday slapped Tk 55 lakh fines on Shahjibazar Power Company’s five directors and managing director on charge of providing fabricated financial statements. The commission, in a separate decision, also fined United Power Generation and Distribution Company, its ... Read more

Dhaka stocks declined for the second trading session on Wednesday amid investors’ increased share selling as they were apprehending violent agitation by the Jamaat following a court verdict on Jamaat chief Matiur Rahman Nizami on war crimes charges. On the other hand, decline in quarterly earning of Grameenphone,

Production might have declined by 30-40pc The country’s jute growers have incurred huge losses this season as most of them failed to achieve their production target due to unfavourable weather during the cultivation, growers and traders told New Age. They feared jute production might have declined by 30-40 per cent this year across the country ... Read more

Finance minister Abul Maal Abdul Muhith on Tuesday said that the development partners were failing to fulfil their responsibility for the country’s development. Muhith also said that there has been an aid fatigue among the country’s development partners who were trying to shrug off their responsibility. ‘The development

The government-set review committee has recently closed a garment factory temporarily structural fault and asked its authorities to demolish the top floor of the building that was constructed illegally. The committee also reviewed two more factories and asked their owners to conduct Detailed Engineering Analysis immediately, people close to the factory inspection programme

The Bangladesh Securities and Exchange Commission will make its decision today regarding the Investment Corporation of Bangladesh-run eight close-ended mutual funds’ tenure extension proposals, BSEC senior officials told New Age. The ICB has recently submitted applications to the capital market regulator to extend its eight mutual funds’ tenure by 10 years. ‘The BSEC will

Dhaka stocks fell on Tuesday as some investors went for sell-offs while many others took a wait- and-see policy following media reports that the International Crimes Tribunal-1 will deliver verdict in war crime case against Jamaat chief Motiur Rahman Nizami today. The key index of the Dhaka Stock Exchange, DSEX,

Md Abdus Salam on Tuesday joined Janata Bank as chief executive officer and managing director. Prior to the new appointment, he was managing director of Bangladesh Krishi Bank. He also served as a DMD of Agrani and Janata banks, said a news release. Salam started his banking career with Bangladesh

There is no safety committee in 44 per cent of garment factories in the country as the procedure for forming the committee is yet to be finalised, a recent survey conducted by the Department of Inspection for Factories and Establishments found. ‘Although the government has adopted the provision of safety committee in the amended labour ... Read more

The National Board of Revenue on Monday made a big reshuffle in its income tax administration transferring 27 commissioners across the country. The revenue board announced the decision through an official order issued on the day as a move to speed up its revenue collection efforts. Three additional commissioners of taxes — Abdul Baten,

The government on Monday decided to procure three lakh tonnes of husked Aman rice during the on-going Aman season at Tk 32 a kilogram from the millers. The government decided not to buy un-husked rice from the growers, said food minister Qamrul Islam. He announced the decision at a press briefing at the

Bangladesh was on Monday re-elected executive member of the International Telecommunications Union in the 19th Plenipotentiary Conference of the forum. Bangladesh got 115 votes out of 167 and secured seventh position in the election which was held in Busan of South Korea, said a press release issued by the Bangladesh

The imports of capital and other industrial machinery increased by 21 per cent in the first quarter of the current financial year compared with that in the same period of the FY2013-14 raising a suspicion of money laundering. According to the latest Bangladesh Bank data, the import of capital machinery and machinery for miscellaneous industries ... Read more

The least developed countries should look for other alternatives to the World Trade Organisation forum to facilitate their trade as the WTO is failing to ensure the interests of LDCs, said speakers at a seminar in Dhaka on Sunday organised by the International Chamber of Commerce-Bangladesh. The WTO is passing through a crisis and it ... Read more

Tariff, non-tariff barriers hamper trade integration in S Asia The Asian economic recovery will be driven by the continental growth and China-India relations after the world economic crisis, said speakers on Sunday at a seminar organised by the International Chambers of Commerce Bangladesh. They also pointed out that tariff and non-tariff barriers hamper the trade ... Read more

The Economic Relations Division on Sunday launched an online-based foreign loans and grants information management system to track foreign aid flows to the country for ensuring transparency and accountability in foreign fund management and coordination. Finance minister AMA Muhith inaugurated the home-grown

Bangladesh Citizens’ Money In Swiss Banks BB gets no Switzerland response on info exchange Swiss Financial Intelligence Unit is yet to make any response to a proposal to sign a memorandum of understanding with Bangladesh Financial Intelligence Unit on exchanging information about money laundering despite repeated attempts taken by Bangladesh Bank. The BB sent a ... Read more

Bangladesh is going to host a three-day regional conference to assess the progress and find out the financing gaps to graduate from the least developed country category to middle income one, officials of the Economic Resources Division said. ERD, United Nations Economic and Social Commission for Asia and the Pacific, and United Nations Department of ... Read more