Business

The country needs a rapid development of its transport and energy sectors, said economists on Sunday. Otherwise, it will fail to become a developed country by 2041 as targeted by the government, they said. The government should take initiative to make vibrant the private sector as a significant number of industries have recently been closed in ... Read more

Audit Of Govt Cash Incentives, Subsidies Banks need not to pay VAT on fees Bangladesh Bank on Sunday said scheduled banks would not have to pay value-added tax on fee for audit of cash incentive and subsidy offered by the government to the export items. The BB issued a circular to authorised dealer branches of all ... Read more

Govt backtracks from hiking SD on tobacco import The government on Saturday passed the Finance Bill-2014 reinstating the existing supplementary duty on some products on import to protect local manufacturing industries. In the approved finance bill, finance minister AMA Muhith reinstated the SD at import stage of some products including toothpaste, soap, detergent

Withdraws AIT, reduces customs duty The government on Saturday passed the Finance Bill-2014, imposing one per cent surcharge on the prices of imported and locally-manufactured mobile phone sets and reducing taxes on the items at import stage. The surcharge is titled ‘information and telecommunication development surcharge’. The government withdrew 5 per cent advance income tax and reduced

Inter-Bank Transaction Thru Bb Npsb 8 banks asked not to overcharge clients for ATM use Bangladesh Bank has recently asked eight scheduled banks, attached to the National Payment Switch Bangladesh, not to charge clients more than the stipulated Tk 10 for each inter-bank transaction through automated teller machines. The central bank has recently found allegations against ... Read more

Investors without TINs to pay more AIT on dividend Any company offering 30 per cent or more cash dividend to investors will get 10 per cent rebate on its income tax as per the Finance Bill 2014 which was passed by the parliament on Saturday. National Board of Revenue officials said that if any company declared ... Read more

The growth of active mobile users of the country has slowed down remarkably after the launch of 3G service in October last year, showed the data of Bangladesh Telecommunication Regulatory Commission. The BTRC’s monthly mobile user data showed that in January-September 2013 the country’s six mobile operators — five GSM and one CDMA — added 1.33 ... Read more

European commissioner for trade Karel De Gucht has said improvements in labour rights must be extended to the Export Processing Zones in Bangladesh. ‘Of course, the reality is that there’s still much more to do. Most urgently, implementing regulations on labour reform must be enacted soon.

The prices of kitchen items including vegetables and fish rose further in the city’s markets on Saturday, just one day before the start of Ramadan, the fasting month for Muslims. The prices of aubergine, green chilli, tomato, carrot, cucumber, garlic and ginger increased further and retailers and wholesalers blamed each others

Dhaka stocks rebounded last week after a two-week fall as budget review hopes helped investors to recover some confidence on the market. DSEX, the key index of Dhaka Stock Exchange, increased by 1.87 per cent, or 81.02 points, in the week to close at 4,409.43 points on Thursday. The daily average turnover of the DSE rose to ... Read more

The prices of aubergine and green chilli shot up in the city’s kitchen markets on Friday ahead of the fasting month of Ramadan. The prices of other vegetables, onions and potatoes also went up over the week in the retail markets. The prices of aubergine and green chilli almost doubled a day after imposing government ban on ... Read more

Thirty-nine per cent of female garment workers are still receiving lower than the government-set minimum wage of Tk 5,300 that was raised in December last year, a study revealed on Friday. Bangladesh Mahila Parishad has conducted the study titled ‘Women in Readymade Garment Industry: Understanding Capabilities and Vulnerabilities of Female Garment Workers

Parliament is going to pass today the Finance Bill-2014 scrapping the proposed tax on realised gains from stock investment for individual investors and increasing tax exemption limit on dividend income, finance ministry officials said. They said that the government at the last moment

Budget Fy 2014-15 Tax-free limit of stock capital gain to be raised to Tk 20 lakh The government is likely to increase the limit of tax-free capital gains from stock investment for individual investors to Tk 20 lakh from the proposed Tk 10 lakh amid protest from the investors, officials of the National Board of ... Read more

Mistrust among the nations is the core problem hindering regional cooperation in South Asian region, said speakers at a luncheon meeting on Thursday. They said despite having a number of regional organisations and initiatives to develop regional infrastructure, very little headway was made to promote

Financial sector experts at a seminar on Thursday said that the government’s negligence was the major impediment to the development of the country’s insurance sector. They also said that the members of the Insurance Development and Regulatory Authority were not equipped with enough knowledge about the

The net investment in the national savings certificates and bonds crossed Tk 10,000 crore in the first 11 months of financial year 2013-14 as the clients invested heavily in the savings tools due to lower rate of interest in scheduled banks’ deposit products. According to the Directorate of National Savings data,

Bangladesh Bank on Thursday introduced a refinance scheme worth Tk 100 crore for the new entrepreneurs to encourage self-employment. The BB in a circular to banks and non-bank financial institutes said that the entrepreneurs, who had not accumulated any business experiences earlier, would be able to receive the loans from the refinance fund. The maximum

The Bangladesh Securities and Exchange Commission has rejected the time extension application of IFIC Bank for submitting rights offer documents to the commission after getting shareholders’ approval, a Dhaka Stock Exchange web post said on Thursday. As per the rule 7(1) of the Securities and Exchange Commission

Dhaka stocks ended positive on Thursday, last trading session of the week, but turnover at the bourse dropped as some investors remained cautious ahead of the budget approval. The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 4,409.42 points, adding 0.13 per cent or 5.77 points. Turnover of the