Business

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

The telecom regulator on Thursday halved the international call termination charges and slashed the operators’ revenue sharing with the government in a bid to aid the politically-licensed gateway operators. The new rate of 1.5 US cents for international call termination per minute might be applicable with effect from July 1 instead of the date of approval ... Read more

Environment Surcharge NBR, DoE differ over industry specification The National Board of Revenue has failed to issue gazette notification containing the names of polluting industries imposing 1 per cent environment surcharge due to its difference of opinion over the definition of industry with the Department of Environment, officials said. They said that the NBR would ... Read more

But revenue collection drops Revenue collection sharply dropped on the third day of the weeklong income tax fair across the country on Thursday though record number of taxpayers and potential taxpayers visited the fair amid nationwide hartal called by Bangladesh Jamaat-e-Islami. On the day, a total of 98,630 people received different

Bangladesh Bank on Thursday came down heavily on the four state-owned commercial banks for violating the bank company act on the limit they can lend to a single borrower. The four SCBs – Sonali, Janata, Agrani and Rupali – also reportedly disbursed fresh loans to defaulters without assessing their credit records. According to BB data,

BSEC decides to take action The capital market regulator on Thursday decided to take action against Shahjibazar Power Company for hiding price sensitive information. The Bangladesh Securities and Exchange Commission made the decision in a regular commission meeting presided over by its chairman M Khairul Hossain, a BSEC news release said. The commission, however, did not find ... Read more

The Bangladesh Securities and Exchange Commission on Thursday approved a proposal of the IFAD Autos Limited to raise Tk 63.75 crore from the capital market through initial public offering. The company will float 2.12 crore shares with an offered price of Tk 30 including Tk 20 premium on each share. The capital market regulator approved the ... Read more

Dhaka stocks advanced for the third trading session on Thursday, the last trading session of the week, as relatively peaceful situation on the first day of a two-day general strike called by Jamaat-e-Islami kept investors positive. The turnover at Dhaka Stock Exchange increased to a 16-month high at Tk 1,288.55 crore on Thursday compared with that ... Read more

Bangladesh Bank on Thursday asked scheduled banks and non-bank financial institutions to introduce full-fledged e-tendering system by December 2015. The central bank issued the directive in line with its steps towards promoting green banking and developing eco-friendly internal management of the banks and financial

Chinese e-commerce giant Alibaba Group Holding Ltd is set to sell some $22 billion of shares on Thursday, capping a two-week road show that drew frenzied interest from investors worldwide and may be the world’s largest ever initial public offering, reports Reuters. The shares are expected to be priced after the markets