Business

The Bangladesh Securities and Exchange Commission has asked the asset management companies (AMCs) to explain on re-investment dividend calculation following investors’ allegation of miscalculation, BSEC sources said. The regulator took the step as some investors who are holding units of different mutual funds (MF) filed complaints with the commission stating the

The International Labour Organisation has urged the government to waive around $1 million value-added tax generated from the spending on a project involving the readymade garment factory inspection, officials said. The ILO made the appeal to the finance ministry through the labour and employment ministry saying that development partners were giving $7.5 million for the ... Read more

The advance-deposit ratio in the country’s banking sector fell below 70 per cent in the last week of August due to a dull business situation amid political uncertainty, said Bangladesh Bank officials. All banks’ ADR came down to 69.91 per cent as of August 28, 2014 from 70.42 per cent as of July 24, 2014. ... Read more

The prices of coarse and fine varieties of rice increase on both retail and wholesale markets in the capital city over the week ending Friday. Traders said the prices of rice increased as production in most of the rice mills were yet to start after Eid-ul-Azha celebration. The prices of coarse and fine varieties of ... Read more

The Bangladesh Telecommunication Regulatory Commission has decided to allow international calling card service in the country so that people can talk to their families abroad. BTRC officials said the commission last week approved the international calling card service but decided to limit the licences within three companies.

Coats Plc chief executive officer Paul Forman arrives in Dhaka today to join the celebration programme of 25 years of partnership of Coats Bangladesh tomorrow, said a news release. Forman was appointed as the group CEO of Coats Plc in December 2009. He was previously group chief executive of Low & Bonar Plc, a global ... Read more

Kaymu.com.bd, an online marketplace founded by Germany’s Rocket Internet Gmbh in 2012, has expanded its business into mobile marketing by launching its android mobile application in Bangladesh on October 1. The Kaymu free application available on Google Playstore has been developed to make online buying and selling easier and faster, said a news release.

High Value-Addition Participation of B’desh in D-8 PTA uncertain Bangladesh’s participation in the preferential trade agreement under the Developing-8 looks uncertain due to rigid stance of other member countries on 40 per cent value-addition in trade under rules of origin, commerce ministry officials said. They said that commerce ministry had been requesting the member states of ... Read more

Bangladesh Bank has started to monitor on real time basis the exchange rates of major currencies against the local currency taka in a bid to ensure transparency and discipline in the financial sector. As part of the move, the central bank started to publish the exchange rates of the four major global currencies — US dollar, ... Read more

Engineers India Ltd, an Indian state-owned enterprise, has proposed that Bangladesh should allow it to set up a petroleum refinery unit without tender at the location of the government-owned Eastern Refinery Ltd in Chittagong. The proposed refinery will have a capacity to refine 6 million tonnes of crude oil per year, according to a proposal of ... Read more

Dhaka stocks declined on Thursday, the last trading session of the week, after rising in the previous trading session amid rumour-driven share sales. The key index of Dhaka Stock Exchange, DSEX, declined to 5,285.83 points, shedding 0.55 per cent or 29.27 points. Market operators said that in line with last

Environment Surcharge NBR set to drop brick kilns from list of polluting industries The National Board of Revenue is set to exclude hundreds of brick fields from the list of polluting industries for surcharge imposition due to contradiction in the definition of industry and establishment specified in the law and rules, officials said. Hospitals, clinics and ... Read more

Telcos logo can be used on handsets The Bangladesh Telecommunication Regulatory Commission has recently turned down a proposal of mobile phone operators Grameenphone and Banglalink to introduce device locking system in the mobile handsets. The telecom regulator, however, allowed the mobile companies to put their logos along with the manufacturers’ logos on the handsets under agreement

Bangladesh Bank has asked the scheduled banks to set up customer services and complaint management cells at their headquarters and regional offices by November 15 this year to settle complaints from clients in the quickest possible time. The BB issued a circular to managing directors and chief executive officers of all banks on Tuesday saying that ... Read more

Dhaka stocks rebounded on Wednesday after decline in the previous two trading sessions as investors’ opted to take fresh position ahead of the third-quarterly disclosures. The key index of the Dhaka Stock Exchange, DSEX, finished at 5,315.11 points, adding 0.42 per cent or 22.50 points. Market operators said that investors’ fresh

A two-day denim expo began at The Radisson Blu Water Garden hotel in Dhaka on Wednesday. The 2nd DenimsandJeans.com Expo has been organised aiming at showing the denim sector strength of Bangladesh and wooing overseas buyers, said a news release. Twenty-four companies from Bangladesh, India, Pakistan, Sri Lanka,

Epson, a Japanese electronics company, on Wednesday launched low-cost printers in Bangladesh for the country’s apparel industries. The low-cost printers will increase the sector’s competitiveness in the world market, Epson India Subcontinent president Toshiyuki Kasai said at a news conference at its Dhaka office while launching Fabric and Direct to Garment printers. Toshiyuki said, ‘We see

Accord on Building Safety, the platform of European retailers, has completed its initial inspection in 1,106 garment factories in Bangladesh until the end of September and identified more than 80,000 faults in the units. The Accord in a press release on Tuesday said that they found faults in all factories and out of them, over 400 ... Read more

The country posted a trade deficit of $990 million in the first two months of the current financial year 2014-15 despite having trade surplus in July as export earnings in August nosedived compared to the import earnings in the month. The trade deficit in July-August of FY 14 was $790 million. The country posted a trade surplus ... Read more

Ipo Fund Diversion Argon Denim, Salvo Chem fined, barred from raising capital for 3yrs The stock market regulator on Tuesday fined Argon Denims and Salvo Chemicals Industry Tk 35 lakh and barred them from raising any capital from the market for three years for violating conditions of using the funds raised through initial public offering ... Read more