Business

The National Board of Revenue is moving forward with an idea to introduce container tracking system in the country following an instruction given by finance minister Abul Maal Abdul Muhith though the customs officials consider the system less effective for traders. Officials said that finance minister instructed them

Local think-tank Unnayan Onneshan on Saturday said that the decrease in surplus of current account would create pressure on the country’s balance of payments. In the September issue of its monthly economic updates the UO said decline in import and import of capital machinery indicated that there was lack of entrepreneurship

Mobile operators urge BTRC to reconsider ‘uneven’ rate cut The bill settlement between the mobile telephone operators and the public switched telephone network operators has remain stuck since July after the telecom regulator lowered the rate for PSTN operators. The Bangladesh Telecommunication Regulatory Commission in April 2014 issued a directive which lowered the call termination rate ... Read more

The bourse makes Tk 135cr net profit The demutualised Dhaka Stock Exchange fell short of its target of achieving 28.50 per cent profit growth as the profit of the bourse grew by 16.87 per cent in the financial year 2013-14 compared with that in the FY 2012-13. The bourse in FY14 made net profit of Tk ... Read more

The reconstituted board of the scam-hit BASIC Bank has approved an ambitious action plan to shore up the battered state-controlled bank through significantly reducing its non-performing loan portfolio and making fresh lending to potential borrowers within this year. The bank will recover classified loans of Tk 630 crore,

Ten scheduled banks including six foreign banks failed to disburse any farm loan in the first two months of the current financial year 2014-15. The banks are Bank Al-Falah, Citibank NA, Commercial Bank of Ceylon, Habib Bank, National Bank of Pakistan, State Bank of India, The Farmers Bank, Modhumoti Bank, NRB Bank and NRB Commercial Bank. The ... Read more

The prices of spices increased in the city’s retail markets over the week ending Friday as the demand for the items rose ahead of Eid-ul-Azha, a religious festival for Muslims. Traders said recently the prices of the items increased on both the wholesale and retail markets due to increasing demand and strict monitoring along the

Prime minister Sheikh Hasina has urged the US investors to create a new business partnership to help Bangladesh become a middle income country by 2021. ‘As we aspire to become a middle-income country by 2021, I call upon the US entrepreneurs to create new business partnerships by investing more to take Bangladesh-US

CDBL informs CSE Central Depository Bangladesh Limited has found that Sylhet Metro City Securities, a brokerage house of the Chittagong Stock Exchange, committed different irregularities as the firm sold and transferred its clients’ shares without taking their consent, CSE sources said. The CDBL informed the matter to the CSE following a query

It says major economic indicators ‘doing well’ Bangladesh economy will grow by 6.4 per cent in the current fiscal year as all major economic indicators are performing better than the last year, the Asian Development Bank said on Thursday. Inflation is also expected to decline to 6.5 per cent in the FY2014-15 from 7.4 per ... Read more

The government has decided to give 5 per cent cash incentive against export of frozen fish for the current financial year 2014-15 amid declining exports over the last few years. A Bangladesh Bank circular issued on Thursday said the frozen fish exporters will get cash incentive and the price, unit calculation for availing the cash ... Read more

Suspension Of Flight Operations United Airways shareholders feel ‘cheated’ Suspension of operation of the United Airways has left its general shareholders, who hold 74.39 per cent stakes of the company, angry and some of them felt ‘cheated’ by the authorities’ decision. The sponsor-directors of the company hold only 8.44 per cent of total shares of 56.80 ... Read more

Labour leaders demand at a discussion Labour leaders and right activists on Thursday demanded that the government should set the minimum wage for the workers of shrimp and fish processing industry at Tk 12,600 from the existing Tk 2,645 a month. They said that in setting minimum wage it would not be wise to compare the ... Read more

Bullish trend of the Dhaka Stock Exchange continued for the eighth trading session on Thursday with the key index of the bourse crossing 5,000 points mark for the first time ever after its inception as investors continued optimistic share purchasing. The DSEX increased to 5,026.92 points on Thursday, the last trading session of the week, after ... Read more

Most of the travel agents have been evading tax by concealing their income received as incentives or commissions from airlines and other agencies related to travel services, according to an investigation conducted by the National Board of Revenue. The central intelligence cell of the revenue board has already unearthed tax evasion by 27 such travel agents ... Read more

The country’s imports posted a robust 43.70-per cent growth in August this year compared with that of 6.03 per cent negative growth in the same month last year due to a rise in payment of bills for food products imported to meet demand for the items in the upcoming Eid-ul-Azha. Besides the food product imports, ... Read more

South Korea-based mobile handset maker Samsung has launched its new model Samsung Galaxy Note 4 for Bangladesh market on Tuesday in collaboration with the leading mobile phone operator Grameenphone at the retail price of Tk 80,000. The GP platinum and platinum-plus users will get the handset at a discounted price of Tk 67,500 with 12-month instalment, ... Read more

Finance minister AMA Muhith on Tuesday said the government has almost completed negotiations with the World Bank for US$ 500 million under a fresh loan deal for budgetary support. Talking to reporters at his secretariat office, he said the government has refused to renew the IMF sponsored Extended Credit Facility loan deal as it would ... Read more

Atiur says govt should remove dishonest, unskilled directors from SoBs Complaints lodged by clients with the Bangladesh Bank against scheduled banks and non-bank financial institutions increased by 4.18 per cent in the last financial year with the Sonali Bank topping the chart. A Bangladesh Bank report released on Monday showed that financial integrity and customer services ... Read more

The National Board of Revenue exceeded its revenue collection target by Tk 175.31 crore as it collected a record Tk 1,675.31 crore in income tax against its target of Tk 1,500 crore from the countrywide weeklong income tax fair that ended on Monday, according to NBR data. Income tax collection also increased by almost 50 ... Read more