Business

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

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