Business

The Bangladesh Telecommunication Regulatory Commission on Wednesday again invited interested international parties to apply for the job of spectrum consultant to make a roadmap for spectrum management after failing to find one in the first attempts. The interested candidates will have to apply by August 31,

Bangladesh Bank is going to launch a Tk 100 crore start-up financing scheme soon to encourage new entrepreneurs to get entry into trade and commerce with low-cost refinancing fund, a senior official of the central bank said. The fund will be channeled through 29 banks and financial institutions that have so far showed their excellence and ... Read more

The net investment in the national savings certificates and bonds hit a new record at Tk 11,707.31 crore in the recently concluded financial year as clients invested heavily in the savings tools due to lower rate of interest of deposit products of the scheduled banks. An official of Directorate of National Savings told

The Bangladesh Telecommunication Regulatory Commission has decided to appoint new auditors to settle a dispute of Tk 3,004.11 crore dues from leading mobile operator Grameenphone, said BTRC officials. They said the commission on Tuesday gave nod to a proposal of the legal and licensing department of BTRC for appointing new auditors for system and

Jute growers have started harvesting their cash crop across the country but there is no visible benefit in producing jute due to low market price, said officials and farmers. The production of jute might further decline this year due to crop damage caused by drought and rough weather, they said. Jute harvesting season generally

Finance minister AMA Muhith on Tuesday said the cancellation of fund by the World Bank for the Padma Bridge project for alleged conspiracy of corruption was a wrong policy of the global lending agency. ‘Now they’ve admitted it was a wrong policy,’ he told reporters replying to their queries at his ERD office after World Bank ... Read more

The Farmers Bank has brought back Tk 1.92 crore which it paid illegally as office rent between September 2010 and March 2012, said officials of Bangladesh Bank. The newly-launched bank on Monday sent a letter to the BB saying that it had recovered the money from a director of the bank, who is also the ... Read more

The government is considering to review the provision of tax collection from the income of Bangladesh Securities and Exchange Commission in response to its appeal seeking tax exemption, finance ministry officials said. Finance minister Abul Maal Abdul Muhith has recently informed the revenue board through a note on an appeal made by the BSEC that

International lenders and development partners disbursed $3 billion in loans and grants in the fiscal year 2013-14 which is the highest ever foreign aid amount for Bangladesh. According to the latest data of the Economic Relations Division of the finance ministry, of the total amount disbursed, $2.27 billion was in loans and $72 million

Forex reserve increases to $21.40b The country’s inward remittance hit a new monthly record at $1.48 billion in July as expatriate Bangladeshis sent huge amount of greenback to their relatives on the occasion of Eid-ul-Fitr which was celebrated on July 29. A Bangladesh Bank official told New Age on Monday that Bangladesh had never received so ... Read more

Business community has intensified lobbying with the government high-ups to annul the new Value-Added Tax and Supplementary Duty Act-2012 arguing that the law was formulated ignoring stakeholders’ opinion. In this connection, the Federation of Bangladesh Chambers of Commerce and Industry, the apex trade body in the country, recently wrote

Draft Labour Rules Mobile operators lobby government Association of Mobile Telecom Operators of Bangladesh has placed 15-point proposals for bringing about changes to the proposed Bangladesh Labour Rules drafted by the labour ministry. The association submitted the proposals to the ministry on July 8 seeking changes in the definition of worker, tenure for apprenticeship, provision for ... Read more

Driven substantially by the higher education sector, real estate deals and mining income, India’s black economy could now be nearly three-quarters the size of its reported gross domestic product, reports The Hindu. These are among the findings of a confidential report commissioned by the government and accessed exclusively by The Hindu. Since there were no

Shahjibazar’s share price soars after formation of probe committee The committees formed by the Bangladesh Securities and Exchange Commission to probe unusual price hike of shares of different companies in last one year have little effect as no action was taken against any manipulator in most of the cases. The BSEC in last one year ... Read more

Dhaka stocks rebounded on Monday after a fall in the previous trading session with turnover hitting its three and a half months high due to sudden increase in some scrip-wise investments, mostly by the institutional investors. DSEX, the key index of Dhaka Stock Exchange, gained 1.04 per cent, or 46.38 points, to finish at 4,467 points ... Read more

Surcharge Imposition NBR yet to get DoE list of polluting industries The National Board of Revenue could not execute the provision of collecting environment surcharge from the polluting factories even after one month of introduction of the law due to lack of the list of such units, officials said. Department of Environment was supposed to provide ... Read more

Scheduled banks further cut rate of interest on their deposit products in June due to increasing trend of excess liquidity in the banking sector, said officials of Bangladesh Bank. According to the latest BB data, the weighted average interest rate on the deposit in the banking sector declined to 7.79 percentage point in June from ... Read more

Bangladesh Telecommunication Regulatory Commission (BTRC) has recently requested the Registrar of Joint Stock Companies and Firms (RJSCF) not to allow share or capital transfer of any telecom company without permission of the regulator. The BTRC officials said according to rule 37(2) of Bangladesh Telecommunication Act 2001 telecom companies are obligated to

The Bangladesh Securities and Exchange Commission on Sunday formed two separate committees to investigate the recent unusual price hike in the share prices of FAR Chemical Industries and Shahjibazar Power Company. ‘The probe committees have been formed as the share prices of the companies have increased abnormally in recent time without any reason,’

Industries ministry has taken a move to amend the existing trademarks act to prevent registration of deceptive and confusingly similar trademarks by business enterprises, officials said. They said that many business organisations were engaged in conflict among themselves over using similar or confusingly similar trademarks of their products. Some business