Business

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

Bad loans, the worst category of defaulted loans, in the banking sector increased by 23.47 per cent to Tk 39,413.53 crore in the first six months of this year due to scheduled banks’ failure in recovering classified loans amid dull business. According to the latest Bangladesh Bank data,

The prices of vegetables increased on the retail market in the city over the week ending Friday flash flood in different parts of the country caused supply shortage. Traders said due to heavy rainfall of last couple of days many vegetables fields went under water in the different districts, causing the shortage of the items.

As many as 1,222 faintings and three deaths were reported in garment factories in Cambodia’s key industrial zones so far this year, surpassing those reported throughout 2013, a local trade union said Thursday, accusing the plants of flouting laws that protect working conditions, reports Radio Free Asia. The faintings between January and August were much

The Dhaka Stock Exchange has set fresh timeframe to introduce its new automated trading system by extending the deadline by another two months as the bourse finds it difficult to finish the task by October this year on some technical grounds. ‘The timeframe to introduce the new automated trading

The labour ministry has taken an initiative to look into the closure notice of Tuba Group factories under Section 13(1) of the Bangladesh Labour Act to see whether the Section is applicable for the factories. The Section stipulated that ‘the employer may, in the event of an illegal strike by any section or department of any ... Read more

House Rent Deposit In Bank Accounts NBR exempts owners from maintaining tenants’ register The National Board of Revenue further relaxed the rules for house rent collection through banks exempting house owners from maintaining a separate register containing particulars of tenants, according to a circular issued on Thursday. House owners, however, may maintain such register

The member-turned-shareholders of the demutualised Dhaka and Chittagong stock exchanges will have to pay 15 per cent tax on profits when they sell their shares of the bourses, according to a circular of National Board of Revenue. The profit will be calculated by deducting the original acquisition price of shares of the bourse from the selling ... Read more

Goldman Sachs on Thursday expressed willingness to raise funds for Bangladesh from international bond market as the government is toying with the idea for the last several years to implement development projects amid shrinking foreign aids. Three visiting officials of the US-based multinational

Dhaka stocks remained negative for the second trading session on Thursday, the last trading session of the week, due to profit taking sell-offs by the second half of the session. The key index of Dhaka Stock Exchange, DSEX, finished flat at 4,547.05 points, shedding 0.14 per cent or 6.81 points. Turnover of the bourse declined to

Ten scheduled banks on Thursday signed participant agreement with Bangladesh Bank for giving loans to marginal and landless farmers, who have bank accounts with Tk 10 deposits, from the central bank’s Tk 200 crore refinance fund. The banks made the deal at the central bank

Mobile phone operator Grameenphone launched the Bangladesh chapter of Telenor Youth Summit 2014 on Thursday. GP officials said this was the second year of the event where youth from across the globe would join a youth summit in Oslo, Norway in December. ‘This initiative was driven by the vision of empowering the society with technology. Through