Business

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

The market capitalisation of leading mobile company Grameenphone hit its all-time high at Tk 52,108.07 crore on Monday as its share prices closed at record Tk 385.90 on the Dhaka Stock Exchange on the day. The market capitalisation of GP was Tk 52,040.56 crore on February 17, 2010 when its share price closed at Tk 385.40, ... Read more

Int’l Call Termination BTRC order creates confusion on procedural ground A telecom regulator’s order to slash the revenue sharing for international call termination has created confusion among the stakeholders as the regulator changed licensing provision without making necessary amendments. Following a ministry order the Bangladesh Telecommunication Regulatory Commission last week halved the international call termination charges

The Federation of Bangladesh Chambers of Commerce and Industry on Monday urged the government to extend the deadline for submitting income tax returns by one month to October 31. The National Board of Revenue has set September 30 as the timeframe to submit income tax returns, but different sections of taxpayer including businessmen

Dhaka stocks advanced for the fifth trading session on Monday as buying pressure in late trading offset the impact of the profit-taking sales in the morning session. Investors increased their buying in late hours as they remained optimistic that the market might increase further, market operators said. They said relatively

Financial Stability Six regulators to exchange sensitive info The country’s six major financial regulators will exchange sensitive financial information among them in a bid to ensure financial stability, said officials of Bangladesh Bank. The decision came from a meeting of the regulators held at the BB headquarters in the capital on September 14. The regulators are ... Read more

KEPZ to be given deadline for land use Finance minister AMA Muhith on Sunday said the government turned down a proposal from the International Monetary Fund to renew the deal on extended credit facility that will expire early next year. He said the government would also fix a deadline for the Korean Export Processing Zone for ... Read more

The National Board of Revenue has collected record Tk 1,315.47 crore, surpassing its collection in the last year’s fair, in six days of the weeklong income tax fair across the country, according to NBR statistics. In last year, income tax collection from the weeklong fair was Tk 1,117 crore. The revenue board has also set record by ... Read more

Recharge-Based Services Telcos oppose commission sharing model The country’s mobile phone operators are opposing the commission sharing model of the recharge-based services as they claim that the slab-based model will create uneven business environment between local and international recharge operators. The telecom operators are also denying doing business with the international payment and recharge service operators ... Read more

The Bangladesh Securities and Exchange Commission has rejected the tenure extension proposals made by two mutual funds — Grameen One: First Scheme of Grameen Mutual Fund One and AIMS First Guaranteed Mutual Fund. According to two separate notifications published on the Dhaka Stock Exchange web site on Sunday, AIMS of Bangladesh, the asset manager of the ... Read more