Business

Revenue collection by the National Board of Revenue grew by only 8.54 per cent in July, first month of the current fiscal year, due to lower performance by the all three major wings of the revenue board, officials said. The growth rate sharply fell in the period compared to that of previous year when the revenue ... Read more

Mutual funds have failed to attract investors’ attention much despite better performance by them in terms of offering dividends to their unit holders in 2014. Due to the investors’ less attention, most of the mutual funds witnessed decline in their unit prices after dividend declaration and are being traded below their net

The Bangladesh Garment Manufacturers and Exporters Association has sought exemption from paying value-added tax on service charges they pay to the service providers. The BGMEA, apex trade body of export-oriented apparel makers, has also sought exemption from paying VAT on charges paid for getting services related to security,

Targets expanding export market The government is planning to establish seven new commercial wings abroad aimed at expanding the country’s export market, officials of the commerce ministry said. The government has also formed an inter-ministerial policy making and coordination committee to expedite activities of commercial wings of Bangladesh missions

Dhaka stocks advanced last week, second week in a row, as the investors found the current political situation, which is comparatively stable, would not hamper the upbeat vibe of the market immediately, stockbrokers said. They key index of the Dhaka Stock Exchange, DSEX, increased to 4,642.38 points, adding 1.41 per cent or 64.38 points over the ... Read more

Defaulted loans in the agriculture sector increased by Tk 1,442.62 crore in the first month of the financial year 2014-15 as the farmers failed to repay their loans for not getting fair prices of their products due to a supply chain disruption during political unrest in 2013. According to the latest Bangladesh Bank data,

The prices of broiler and onion increased in the city’s retail markets over the week ending Friday. Traders said that due to increasing demand the prices of broiler went up over the week and the price of imported onion increased as the stock of local items was going to an end. The price of broiler increased by ... Read more

The Bangladesh Securities and Exchange Commission has planned to finalise by this year the rules for establishing a clearing corporation for the capital market. Formation of a separate clearing corporation is one of the important parts of the BSEC’s 10-year master plan and also a condition of the Asian Development Bank

The 3rd Asian Tourism Fair will be held at Bangabandhu International Conference Centre in the capital in September 11-13. Monthly Magazine Parjatan Bichitra will organise the three-day tourism fair in cooperation with Bangladesh Tourism Board and Bangladesh Parjatan Corporation. Civil aviation and tourism minister Rashed Khan Menon will formally inaugurate

Bangladesh Bank on Thursday asked scheduled banks to disburse at least five per cent of their total funded loans to the green finance projects in the private sector from 2015. The BB, however, asked the nine new scheduled banks and non-bank financial institutions to disburse at least three per cent and four per cent respectively of ... Read more

Experts say at CPD launching of WEF global competitiveness report No adequate measure has been taken to reduce the adverse impact of poor infrastructure, corruption and inefficient bureaucracy on the country’s business environment although the World Economic Forum has been mentioning the problems since 2006, said experts on Thursday. Twenty one per cent businesses in ... Read more

Leather, Home Textiles Exports Under Revised Gsp In Eu Bangladesh faces tough Pak competitions Bangladesh would face strong competitive pressure from Pakistan in exporting home textile and leather to the EU market due to the revised generalised system of preferences scheme of the European Union, experts said at a seminar on Thursday. They, however, said ... Read more

The overall point-to-point inflation slightly came down by 0.13 percentage points to 6.91 per cent in August, thanks to a fall in food prices in the international markets and stable situation in domestic market, according to Bangladesh Bureau of Statistics data released on Thursday. In July, the rate of point-to-point inflation was 7.04 per cent. The data ... Read more

RMG Safety Upgrade IFC to provide $10m in loan to suppliers of VF Corp The International Finance Corporation, a member of World Bank Group, will provide up to $10 million in loan to the suppliers of American clothing corporation VF Corporation in Bangladesh to improve fire and building safety. The IFC and its client BRAC Bank ... Read more

Dhaka stocks remained positive for the fourth trading session on Thursday, the last trading day of the week, as fresh fund injection by investors continued. The key index of Dhaka Stock Exchange, DSEX, closed at 4,642.37 points, adding 0.21 per cent or 9.91 points. Turnover of the bourse increased to

International Fund for Agricultural Development will provide Tk 116.63 crore ($15 million) as grant to Bangladesh for improving living standards and reduce vulnerability of rural poor in five districts in Hoar basins. Economic Relations Division of the finance ministry and IFAD, a United Nations arm, on Thursday signed a financing agreement in this regard at

Organisers of the Bangladesh Denim Expo on Thursday launched an official web portal in a bid to meet deferent information requirements regarding the exposition to be held in November 11-12 in Dhaka. All the information regarding the denim expo will be available at the web site named http://www.bangladeshdenimexpo.com. Initiator of the exposition

Bangladesh Bank on Wednesday said deficiency of corporate governance caused scams at some state-owned commercial and specialised banks resulting an adverse impact on the country’s financial stability. Due to the financial scams and politically motivated loan disbursement, five banks held 54.50 per cent defaulted loan in the banking sector

The inflow or remittance increased to $1,160.06 million ($1.16 billion) in August of the current financial year 2014-15 against $1,005.77 million in the same month of the FY14 as the expatriate Bangladeshis sent increased amount of greenback to their relatives ahead of Eid-ul-Azha which will be celebrated in the first week of October. According to

Foreign investment in readymade garment sector can only be encouraged for backward linkage industry and high value products in order to protect the local business, said speakers at a discussion meeting on Wednesday. The meeting, TexApp Bangladesh 20014, was jointly organised by CEMS Global and The Daily Star on the sidelines of Textech Bangladesh