Business

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

Dhaka stocks advanced sharply for the fourth trading session on Sunday, the first trading day of the week, with investors continuing heavy buying as the second day of countrywide strike called by Jamaat passed sluggishly. The key index of Dhaka Stock Exchange, DSEX, closed at 4,913.24 points, adding 0.96 per cent or 47.05 points. DSEX has now ... Read more

The Private Sector Foreign Loan and Supplier’s Credit Committee on Sunday approved seven private companies’ proposals to take $125.05 million in loans from foreign sources. The foreign loan approval committee, headed by Bangladesh Bank governor Atiur Rahman, approved the loan proposals at a meeting at the central bank headquarters

Dhaka will strike a free trade area deal with Gulf Cooperation Council, a customs union of six Arab states, provided that the oil rich nations offer preferential tariff facilities for major Bangladeshi exportable goods. The planned FTA must cover trade in goods, trade in services and investment, an inter-ministerial meeting at the commerce ministry past week ... Read more

Bangladesh’s shrimp exports to the US market fell sharply by 76.10 per cent to $3.05 million in the first two months of the current financial year 2014-15 compared with that of the same period in the last FY as the US buyers are importing a low-price hybrid variety of the item from China, Vietnam and ... Read more

Business leaders on Saturday stressed the need for introduction of international factoring system in the country to expedite export and import activities and accelerate cash flow in trade. At a roundtable discussion on ‘international factoring: an alternative to letter of credit’ held at the Dhaka Chamber of Commerce and Industry auditorium in the

Income Tax Fair NBR gets Tk 1,097cr in five days The ongoing weeklong income tax fair on Saturday, a public holiday, drew a huge crowd at the fair venues across the country including at the Officers’ Club in Dhaka as more than one lakh people visited the fair venues amid drizzle on the day. The visitors ... Read more

The credit- or advance-deposit ratio in the banking sector remained stuck at around 70 per cent in the recent months due to a dull business situation amid political uncertainty, said Bangladesh Bank officials. According to the latest BB data, the ADR in the banking sector stood at 70.42 per cent as of July 24, 2014 compared ... Read more

The prices of beef, onion and garlic increased in the city’s kitchen markets over the week as the demand for the items increased ahead of Eid-ul-Azha, traders said on Friday. They said the price of cow had already went up across the country as farmers and traders were getting preparation to start selling and buying ... Read more

The National Board of Revenue received Tk 157.62 crore from 24,342 taxpayers on the fourth day of the weeklong income tax fair across the country on Friday, the weekly holiday, when more visitors crowded the fair venues than the earlier days. Income tax collection was Tk 161.53 crore on Thursday while 15,314 taxpayers submitted their income ... Read more

India has taken the first steps to construct a Rs 70-crore ($11.5 million) bridge over the River Feni in Tripura to access Bangladeshi ports for transporting goods and heavy machinery from other parts of the country to the landlocked and mountainous northeast and to boost trade and tourism, officials said. ‘The Tripura government has asked a ... Read more

The 4th National ICT Fair 2014 will be held at Oxford International School, Dhaka in September 20-22 to provide the young ICT enthusiasts of Bangladesh to participate in a national level event where they get to acquire new knowledge and hone their skills, said a news release. OIS had organised three national level ICT Fairs ... Read more