Business

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

Industrialists will have to pay more taxes and ensure labour welfare at their factories for being eligible to be selected as commercially important persons, officials said. The industries ministry is going to amend the existing Commercially Important Person (Industry) Selection Guideline-2012 increasing the amount of tax

Entrepreneurs express pessimism Bangladesh Bank plans to double the government’s equity support for ICT related projects under the initiative of equity and entrepreneurship fund to boost the promising sector of the country. The move of the central bank is aimed at accelerating the potential ICT sector as software export in the just concluded financial year hit ... Read more

Merchant banks and stockbrokers will have to maintain the newly-imposed margin loan ratio for the existing loans disbursed to their clients and the fresh loans to be issued after June this year, a senior BSEC official told New Age. Bangladesh Securities and Exchange Commission executive director Saifur Rahman made the comment after the Bangladesh Merchant

The National Board of Revenue has decided to send text message through mobile phone to all taxpayer identification number holders, asking them to submit income tax returns and pay tax in the current financial year, officials concerned told New Age. They said the online TIN project would send the messages

The prices of daily essentials including vegetables, fish and meat went up in the city’s kitchen markets due to a supply shortage after Eid-ul-Fitr, a religious festival for Muslims. Traders said that customers’ turnout at the kitchen markets was thin after the festival celebrated on Tuesday but at the same time market witnessed an acute

Won’t permit telcos to streamline network capacity The telecom regulator is planning to allow new independent companies to set up mobile towers and network infrastructure in a bid to streamline network capacity, said officials concerned. Bangladesh Telecommunication Regulatory Commission officials said the regulator was now formulating a guideline for new network developing and sharing model. ‘Now the ... Read more

The Rana Plaza Coordination Committee, a body of representatives of global trade unions, retailers, factory owners and governments, has failed to collect even half of the committed fund of US$ 40 million to pay workers and families of the victims who were killed in the building collapse. In September 2013, national and international stakeholders came together

The number of loss-making branches of the four state-owned commercial banks increased by 145.73 per cent in the first three months of 2014 due to surge in the defaulted loans at the banks and decreased credit demand from the private sector, Bangladesh Bank officials said. According to the latest BB data, the number of loss-making

The finance ministry has sanctioned Tk 100 crore in favour of Bangladesh Jute Mills Corporation to help the state-owned corporation in purchasing raw jute. The finance division of the ministry through an office order on Monday made the allocation. The order, signed by Hasan Khaled Faisal, a deputy secretary

The government’s borrowing from the banking system increased by 1,956.60 per cent in the first 15 days of this financial year compared with that in the same period of the FY14 as it took huge amount of loans from the banking source to pay salaries and festival bonus to its employees. The borrowing from the banks ... Read more

UK clothing chain Matalan has bowed to pressure and made a donation to the UN-backed fund to compensate the victims of the Rana Plaza factory collapse – one day before the deadline for payments, reports Guardian. The retailer, however, refused to say how much money it had offered to the fund. The announcement came after shadow international

Indian Oil Corp will cut the retail price of petrol by about 1.5 per cent, or 1.09 rupees/litre at Delhi, from today as global prices of the fuel have eased since the last revision, the company said in a statement on Thursday, reports Reuters. The country’s biggest refiner will, however, raise diesel prices by about 1 per ... Read more

Bird Deterring Machines Purchase CAAB refuses to provide ACC with docs The Civil Aviation Authority, Bangladesh (CAAB) refused to provide documents to the Anti-Corruption Commission for its ongoing inquiry into alleged corruption in purchasing bird deterring machines and some other equipments from 2009 to 2011. The CAAB did not provide documents to the ACC which

Export, remittance may take hit The US dollar continues to depreciate against the Bangladeshi currency taka in the current month of July as the expatriate Bangladeshis are now sending robust amount of greenback to their relatives ahead of Eid-ul-Fitr. The central bank has already purchased US dollar worth $483 million from the local scheduled banks to ... Read more

Eid shoppers of all ages thronged different shopping spots in the capital to buy necessary items at the eleventh hour of shopping. From morning till late night, there was huge rush of customers across the main shopping areas of Pathapath, Dhanmondi, Banani, Gulshan, Mirpur and Uttara to buy dresses, shoes, cosmetics and kitchen market items. Lower