Business

Citibank NA Bangladesh on Tuesday launched a ‘Nationwide Road show on Electronic Payment’ to encourage clients and scheduled banks to increase the usage of the electronic fund transfer network. Bangladesh Bank deputy governor Nazneen Sultana inaugurated the road show at a hotel in the capital where the central bank and Citibank NA senior officials attended.

The 15th Textech Bangladesh 2014 International Expo, an international exposition, will be held at the Bangabandhu International Conference Centre in Dhaka in September 3-6. The exposition will showcase garments, textile apparel, technology and machinery of Bangladesh, said a news release on Tuesday. CEMS-Global,

The National Board of Revenue has not extended the reduced income tax rate facility for the readymade garment exporting industry in a bid to check tax evasion through shifting profit from other industries to export earnings, officials concerned said. Taking the advantage of reduced tax rate,

Farm loan disbursement declined by 7.88 per cent in the first month of the current financial year compared with that of the same month of the FY14 with no loan disbursement by 11 scheduled banks in the period. According to the latest Bangladesh Bank data, farm loan disbursement by all banks decreased to Tk 904.53 crore ... Read more

An investigation committee of the stock market regulator on unusual price hike of Shahjibazar Power Company’s shares has found evidence of price manipulation by a few investors, said BSEC sources. The two-member committee of Bangladesh Securities and Exchange Commission submitted the probe report to the commission on Monday. Sources said that

The Bangladesh Telecommunication Regulatory Commission has initiated a move to launch its own mobile application for better communication with public, said officials concerned. According to BTRC officials, the application will contain most of the feature of the current web site of BTRC. ‘It will also have separate complain option which will enable the mobile

Dhaka stocks advanced on Monday, after declining in previous three trading sessions, as investors turned their attention to shares of banks and non-bank financial institutions and other large capitalised companies. The key index of the Dhaka Stock Exchange, DSEX, increased at 4,564.34 points, adding 0.52 per cent or 23.74 points. Investors increased attention

Sixteen scheduled banks on Monday signed participant agreement with Bangladesh Bank to join the refinancing scheme of the central bank worth Tk 200 crore to inject necessary credit into the jute sector. Jute sector entrepreneurs will be able to receive loans from the refinance fund at the interest rate of 9 per cent. The banks made the ... Read more

Hallmark Scam Accused bank official found dead in prison cell Former manager of Sonali Bank’s Ruposhi Bangla Hotel Branch, AKM Azizur Rahman, was found dead at Bangabandhu Sheikh Mujib Medical College Hospital’s prison cell Sunday night. Dhaka Central Jail senior Superintendent Forman Ali told New Age that Azizur was undergoing treatment there for over a month. Azizur ... Read more

Indian minister claims Bangladesh exporters fail to understand their market Business leaders and experts on Sunday demanded that India should remove non-tariff and para-tariff barriers to help Bangladesh in increasing exports to the country to reduce the trade gap between the two neighbours. At the Bangladesh-India business conclave jointly organised by Indian Chamber of Commerce and ... Read more

The government is expected to announce a raft of policy measures soon to boost the local tourism industry keeping provisions of fiscal stimulus and exclusive zones to attract holiday-makers. The finance ministry is now busy preparing a draft package facility on tourism that would involve developing infrastructure in Cox’s Bazar and the districts in Chittagong

Operators demand tax relaxation, policy revision The consumers have no trust on mobile operators as they do not the get the required support from operators, said Bangladesh Telecommunication Regulatory Commission chairman Sunitl Kanti Bose. At a daylong workshop, organised by global association of telecom operators GSMA in cooperation with Association of Mobile Telecom Operators of Bangladesh,

Banks must keep more capital against RWA Bangladesh Bank has formulated draft guidelines on risk-based capital adequacy ratio in a bid to implement Basel-III from the next year by raising scheduled banks’ capital bases. Banks will have to implement the new guidelines on capital arrangement in five years. Under the guidelines, banks will have to ... Read more

Bangladesh Bank on Sunday relaxed settlement policy of foreign letters of credit for the importers of unrefined edible oil, oil seeds, crude sugar and unground wheat. The BB issued a circular to the authorised dealer branches of all scheduled banks saying that refiners and millers will not have to settle payment against foreign

Dhaka stocks finished negative for the third trading session on Sunday as investors sold off shares, mostly small capitalised companies’ shares. Market operators said buying of shares of some large capitalised companies by a section of investors, however, saved the market from a significant fall.

Share prices of two companies — BEXIMCO and BSRM Steels — have continued to increase abnormally in recent times despite the fall in profits of the companies in January-June period. Following queries from the Dhaka Stock Exchange regarding unusual price hike, the companies on Sunday separately informed the bourse that there were no undisclosed price

Officials blame lack of equipment, manpower The country’s telecom regulator is yet to start drive outside Dhaka for collecting mobile phone operators’ service quality information after nine months of issuing directive in this regard, said BTRC officials. The Bangladesh Telecommunication Regulatory Commission officials said the regulator was only conducting test drive in Dhaka and its

Dhaka and Ankara will hold exclusive talks in the Turkish capital on Tuesday on a draft of a bilateral Free Trade Area agreement to be signed by the two countries, prepared by the commerce ministry in Bangladesh. A five-member delegation, headed by additional secretary of the commerce ministry, Monoj Kumar Roy, will visit Ankara from August ... Read more

The National Board of Revenue has widened the scope of amortisation benefit on different fees for mobile phone operators, according to a circular issued by the NBR. The revenue board on Thursday issued the circular in line with the amendment of the Income Tax Ordinance-1984 as part of the budgetary measures for the

Rules Under Labour Act Government misses 3rd deadline for finalisation The government has again failed to finalise rules under the labour act by the time it promised as the third deadline ended on July 31. Labour ministry officials said now they were working on the draft targeting the month of September. A source involved with the ... Read more