Business

Duty-Free Access For 7,800 Items To China Dhaka rejects Beijing’s new offer on higher value addition ground Dhaka has rejected an alternative offer from China on duty-free market access for 7,800 products from Bangladesh with enhanced value addition as the commerce ministry finds existing duty-free facility under the APTA arrangement for Chinese market more viable. ... Read more

Foreign contracting firms will have to pay tax at source at the rate of 5 per cent on their total receipts which they get for executing development projects in Bangladesh, officials of the National Board of Revenue said. The government’s development project implementing agencies will have to deduct the tax while making payment to any foreign ... Read more

Alliance Inspection Number of closed RMG factories may increase The number of closed factories on the Alliance list is likely to increase as the government-set review panel is going to start its review work on the eight factories from next week where the North American retailers’ group found serious structural faults and suggested for evacuation. Name ... Read more

The country’s telecom regulator has recently issued a letter to state-run mobile phone operator Teletalk asking it to effectively use the illegal call termination detection system. The Bangladesh Telecommunication Regulatory Commission letter also asked Teletalk to maintain the standards of using a SIM detection box, an

Accord declines to consider inspection by individual Alliance brand The rift between the North American retailers’ group Alliance and the European group Accord over the Bangladesh garment safety inspection has surfaced again as Accord on Friday declined to accept inspection of any factory by any individual retailer under Alliance. The Accord on Fire and Building ... Read more

LR Global’s Bank Transactions BSEC probe body gets some powers of civil court The Bangladesh Securities and Exchange Commission has empowered a committee, formed to investigate LR Global Bangladesh Asset Management Company’s suspicious bank transactions, with some powers of a civil court. The powers include enforcing the attendance of a person and examining him on oath, ... Read more

NBR Time Release Study Lengthy process at Benapole hampers Indo-Bangla trade Excessive time consumption in clearing and releasing goods at the Benapole land port hurts export and import between India and Bangladesh, a study report of the National Board of Revenue said. Delay in releasing goods is detrimental to trade facilitation, deterrent to direct foreign investment ... Read more

Demand 10pc CVD on shipments into India With Indian domestic demand for jute bags shrinking, local manufacturers have asked the government for concessions to export for countering competition from Bangladesh in global markets, reports The Hindu BusinessLine. The manufacturers have also demanded that penal duties be imposed on jute imported from across the border to nullify ... Read more

New Import Policy Order Ministry sets Oct deadline for drafting Commerce ministry has set October as the deadline for drafting the import policy order for 2015-2018 after less than expected proposals from stakeholders were made to the ministry on the major trade policy. After drafting the order to be in place for four years up to ... Read more

The prices of onion, egg and red lentil went up in the capital’s retail markets over the week ending Friday due to a supply shortage. Traders said that consumption of egg rose sharply after the Eid-ul-Fitr vacation as people returned to the city and production at the bakeries started in full swing after the festival. They said ... Read more

Lack Of Empowerment DSE decides not to inspect any listed company The Dhaka Stock Exchange has decided not to conduct inspection to any listed company and to any company which is seeking regulatory approval for its initial public offering as the bourse lacks explicit legal power to make such visit, DSE officials said. They said ... Read more

Bids Seminar On Monetary Policy Foreign loan influx in pvt sector to affect financial sector: economists The central bank’s move to encourage foreign loans for the private sector under the monetary policy for July-December 2014 could affect the country’s financial sector, economists at a discussion meeting on Thursday observed. At the seminar, organised by Bangladesh Institute ... Read more

Defaulted loans in industrial sector decline slightly Term loan disbursement for opening of new industries and expanding existing ones registered a negative growth of 0.51 per cent in the recently concluded financial year compared with that of 19.93 per cent growth in the FY 2012-13 due to political unrest and uncertainty. According to the Bangladesh ... Read more

Country’s export to the US fell significantly but to China it continued to skyrocket and to India it rebounded in July, the first month of the financial year 2014-15. Export earnings from the US in July of the FY15 fell by 14.22 per cent to $501.04 million from $588.11 million in the same period of ... Read more

The board of directors of Dhaka Stock Exchange on Thursday suspended the bourse’s general manager Khandaker Asad Ullah as per a regulatory order over the allegations of share trading violating rules. The DSE board on the day also formed a two-member investigation committee as part of the Bangladesh Securities and Exchange Commission’s order for

Dhaka stocks gained on Thursday amid increasing turnover as they were expecting an improved business environment in next few months depending on the ‘stable’ political situation. The key index of Dhaka Stock Exchange, DSEX, gained 0.60 per cent or 27.30 points, to close at 4,554.51 points. Turnover of the bourse increased to Tk 632.12 crore on Thursday

Phramaceutical Industry Dhaka to negotiate with WTO for waiver on patent protection till `25 Dhaka will engage in negotiation with World Trade Organization in Geneva on extending the current waiver up to 2025 from maintaining mandatory patent protection under the intellectual property rights criteria for pharmaceutical products, a senior trade official said. The move has ... Read more

Scrapping Of Mobile Banking Licence BB warns Prime Bank over ‘misleading’ ad Bangladesh Bank on Wednesday warned Prime Bank for publishing ‘misleading’ advertisement on the media about the central bank action cancelling the permission for its (Prime Bank) mobile financial services. The BB issued separate letters to managing director and chairman of the Prime Bank asking ... Read more

The country’s economic growth prospects are badly hurt by the ongoing political uncertainty as entrepreneurs are not encouraged to make fresh investment, said Metropolitan Chamber of Commerce and Industry. In its quarterly economic review for April-June 2014 released on Wednesday, the chamber said foreign investors have adopted a ‘go-slow’ strategy in

Bangladesh Bank on Wednesday raised the ceiling of car loan to Tk 40 lakh from Tk 20 lakh to expedite the credit flow to the private sector, said officials of the central bank. The loan would be allowed for purchasing cars for both personal and organisational use. The central bank also increased the equity-loan ratio for