Business

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

As Muslims around the world is celebrating Eid-ul-Azha this week, some Bangladeshi families are turning to the web to buy their sacrificial animals, changing a centuries-old tradition, reports Voice of America. Muslims in South Asia traditionally buy cows, goats and other animals from outdoor cattle markets for Eid-ul-Azha sacrifice. Throughout the month preceding the annual Muslim ... Read more

Dhaka Regency, a business class hotel, has announced a special package on the occasion of Eid-ul-Azha celebration, said a news release. The package has been specially designed for all types of Standard Chartered Bank card holders who are local residents and will be entitled to have one night accommodation up to two adults and two children ... Read more

Scheduled banks continued to cut the rate of interest on their deposit products due to an increasing trend in excess liquidity in the banking sector, according to the latest Bangladesh Bank data. The BB data showed that the banks had cut consecutively the interest rate on their deposit products in recent months including August. The weighted average ... Read more

With only a few of days left for Eid-ul-Azha, the second biggest religious festival of the Muslims, blacksmiths and knife sharpeners across the capital are passing busy times in their works. Akbar Hossain, a blacksmith in the capital’s Karwan Bazar, who was hammering on a burnt iron sheet to make a sharp knife called ‘chapati’, ... Read more

Prices of spices remain high The prices of vegetables and fish increased on the retail market in the capital due to supply shortage and higher transportation cost ahead of Eid-ul-Azha, said traders. They said the supply of fish and vegetables decreased in the city due to Eid and the truckers were charging extra money as ... Read more

Traders have set the maximum price of cow rawhide at Tk 70-Tk 75 per square feet in Dhaka and Tk 60-Tk 65 for outside of the city. The price is lower by Tk 15 a square feet from the price of last year. The traders set the lower price of rawhide in excuse of declining demand ... Read more

Ministry backtracks as Latif faces removal The telecommunication ministry has apparently dropped the idea of giving retrospective effect to the reduced charge for IGW operators for international call termination from July 1 after the prime minister decided to sack the telecom minister Abdul Latif Siddique. After the BTRC on September 18 announced the new

The country’s inward remittance increased by 21.85 per cent to $3.98 billion in the first quarter of this financial year from $3.27 billion in the corresponding period of the FY 2013-14 as expatriate Bangladeshis sent huge amount of foreign exchange to their relatives on the occasion of Eid-ul-Fitr and Eid-ul-Azha. According to the BB data released ... Read more

The National Board of Revenue has asked all brokerage houses under Dhaka Stock Exchange and Chittagong Stock Exchange for updating the data of individual shareholders having 12-digit e-TINs (taxpayer identification numbers), officials said. The revenue board made the directive in the context of complications being faced by the listed companies in deducting tax at source