Business

Owners of readymade garment factories on Sunday threatened that they would shut down 245 factories in Gazipur if the authorities concerned would not ensure adequate gas supply to the factories. Md Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, conveyed the owners’ stand at a meeting with the state minister for power, energy

Mobile Phone Fraud Management Telcos yet to upgrade system despite BTRC order The country’s mobile phone operators are yet to upgrade their fraud management system after nine months of issuance of a directive by the telecom regulator to detect criminal activities through mobile phones. Bangladesh Telecommunication regulatory Commission officials said unavailability or inefficiency of the mobile ... Read more

The government is trying to complete recruitment of additional 200 factory inspectors by October 15 before the review meeting of the EU Sustainability Compact to be held on October 20. A senior government official said that the government instructed official concerned to take initiative so that the recruitment process could be completed by the time.

Bangladesh Krishi Bank on Sunday signed an agreement with Bangladesh Bank to take Tk 2 crore from the central bank to give the capital’s slum-dwellers loans for initiating income generation venture after returning to their respective villages. BB executive director M Mahfuzur Rahman and BKB managing director Abdus Salam signed the agreement on behalf of their ... Read more

BB probe into rating agency finds A Bangladesh Bank investigation has found that Bangladesh Development Rating Agency Ltd sent financial information of its clients — hundreds of small and medium enterprises — to India violating BB regulations, said officials of the BB and the Bangladesh Securities and Exchange Commission. BDRAL, a credit rating agency, is using ... Read more

The visiting Japanese prime minister, Shinzo Abe, on Saturday called for further improvement of investment environment in Bangladesh to attract more Japanese investors as they were eager to invest in the country’s important power, energy, infrastructure and others key sectors. ‘I would like to ask Bangladesh government to further improve investment environment reflecting

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