Business

The National Board of Revenue has recommended that the government should not accept a request from India seeking travel tax waiver for its nationals, officials said. They said that the revenue board could not exempt any citizen of any particular country as it collected the tax from all outgoing passengers. The Indian

The government has recently increased the minimum wages for the sawmill workers to Tk 6,850 from Tk 4,120 as monthly payment. Labour leaders of the sector, however, have rejected the minimum wages for the workers awarded on September 25 by the minimum wages board. They alleged that the board had set the wages as per the

Start Of Electricity Generation By Ipps Power ministry seeks more time for availing tax benefits The power, energy and mineral resources ministry has sought time extension by two years for starting commercial operation by the independent power plants for availing tax benefits, officials of the National Board of Revenue said. According to the existing rule, the ... Read more

Chittagong Stock Exchange introduced today two new indices — CSE 50 and CSE All Shariah Index. The base point of the two indices will be 1000. Top 50 of the companies listed with CSE have been selected for the CSE 50 index on the basis of their market capital, liquidity position and financial viability. Initially, the ... Read more

Flawed tendering and evaluation process of the country’s telecom regulator is delaying several projects that witnessed repeated rescheduling in the last one and half years. Bangladesh Telecommunication Regulatory Commission officials said inefficiency of the officials concerned was the core reason for re-tendering of several projects

The prices of vegetables went up in the city’s kitchen markets over the week ending Friday due to a supply shortage after Eid-ul-Azha as many traders are still enjoying Eid vacation. Traders said that despite low turnout of customers at the kitchen markets after the religious festival celebrated on Monday the market witnessed an acute ... Read more

Bangladesh Bank will ask scheduled banks to distribute farm loan application forms among farmers as it has recently received allegations that some banks did not give the forms to the clients to avoid disbursement of the agriculture credit, said officials of the central bank. The BB will issue a circular to all banks in the

A section of investors, mostly retailers, lose their fund as share prices of almost all the newly-listed companies plunge within few days after skyrocketing on their debut. Experts said that due to small paid-up capital of the newly-listed companies, in most of the cases, it had become easy for manipulators to gamble

Info Verification For Sim Registration Telcos to pay BTRC system set-up cost for NID database access The Bangladesh Telecommunication Regulatory Commission has decided that the mobile phone operators would bear the cost for installation of a system for access to national ID database for SIM registration verification. BTRC officials said the commission had also decided that ... Read more

Re-Listing Of Otc Cos BSEC to impose lock-in on sponsors’ shares The Bangladesh Securities and Exchange Commission has planned to impose lock-in on shares of the sponsor-directors of the companies which will be re-listed with the stock exchanges from the over-the-counter market, a BSEC senior official told New Age. The commission made the move in ... Read more

The government is set to exempt the Rural Electrification Board from paying value-added tax worth Tk 101.75 crore for which the National Board of Revenue has a long-standing dispute with REB, officials said. At the same time, REB has also informed the revenue board that from April it started collecting VAT on meter rent from its ... Read more

Alliance Inspection Another RMG factory partially closed Production at Tusuka Trousers Ltd, a nine-storey garment factory located in Gazipur, has recently been closed partially by a government-set review committee as the committee found weakness in the columns of the building. Following a recommendation made by the Alliance for Bangladesh Worker Safety, a platform of North American ... Read more

The Bangladesh Bank on Wednesday appointed an observer to the National Bank Limited following several alleged anomalies including increasing rate of defaulted loans and ‘unwanted’ interference of the board of directors in the bank’s activities. BB executive director Mahfuzur Rahman told New Age that the central bank’s forex reserve and treasury management

Small and seasonal rawhide traders across the country are in fear of huge losses as they had to buy rawhides at high prices while tanners set low prices of rawhides this year, the people involved with the trade said. Small traders alleged that despite high demand on the local and international markets every year the ... Read more

A row between the government and the International Monetary Fund (IMF) has emerged after the finance ministry refrained from pledging implementation of a five-point condition on value added tax the international lender tagged with disbursement of the next tranche of ECF fund. The refusal or indecision on the part of the ministry in implementing the ... Read more

The World Bank on Wednesday estimated that the GDP growth of Bangladesh would be 6.2 per cent in 2014-15 fiscal year, which is so far the lowest projection by any international agency. The government’s GDP target is 7.3 per cent for FY2014-15 whereas the Asian Development Bank in late September projected the country’s GDP growth ... Read more

Microsoft founder Bill Gates has lauded the mobile banking services in Bangladesh saying that banking on digital technology would bring financial services to the world’s poor. Bill Gates is the co-chairman of Bill and Melinda Gates Foundation which has investment in one of Bangladesh’s mobile financial service providers, bKash.

Cattle Trade In Border Areas Home issues guidelines to ensure revenue collection The home ministry has issued guidelines to give legal shape to the entry of cattle in the country through informal channels making mandatory trading of cattle at the government-approved bits or khatals, temporary shelters for cattle brought into the country at border areas. ... Read more

The prices of aromatic rice and spices increased on the city’s retail markets on Saturday, two days before the celebration of Eid-ul-Azha. Traders said the prices of the items went up on the market as the wholesalers increased the prices ahead of Eid, which is to be celebrated tomorrow. The prices of chinigura and kalijira increased ... Read more

Dse Weekly Review Dhaka stocks gain for sixth week as investors remain positive about prospect Dhaka stocks sustained upbeat vibe in last week, the sixth week in a row, riding on investors’ mounting confidence and increased fund flow to the market. The key index of Dhaka Stock Exchange, DSEX, gained 4.19 per cent or 210.79 ... Read more