Business

Holders of traditional 10-digit taxpayers’ identification number will face more hassle as their income tax returns will fall under mandatory audit system, officials of the National Board of Revenue said. They would also be denied around 30 services including registration and fitness renewal of car, opening letters of credit, getting loans and credit cards, ISD

Imports posted a 20.21-per cent growth in May this year compared with that of 4.48 per cent negative growth in the same month last year due to a rise in payment of bills for food products imported to meet demand for the items in the upcoming Ramadan. According to the Bangladesh Bank data released on

The Bangladesh Securities and Exchange Commission has warned Swapan Kumar Bala, managing director of the Dhaka Stock Exchange, for not adopting cautious approach in giving his opinion on transfer of units of two mutual funds. Trust Bank Investment Limited in December last year

Lafarge Surma Cement, which recently declared interim dividend, will remain at the junk Z category until it declares and disburses final dividend after the end of the year 2014, an official of the Dhaka Stock Exchange told New Age on Thursday. He said that the Bangladesh Securities and Exchange

The parliamentary standing committee on Ministry of Posts, Telecommunications and Information Technology Thursday discussed the issue of withdrawal of VAT on mobile phone handset import. The parliamentary body has suggested the ministry to take necessary measure after consulting with the finance minister. The finance minister in the proposed

Facebook Inc’s web site crashed briefly on Thursday, temporarily preventing computer and mobile phone users from reaching the site around the globe, reports Reuters. During the outage, Facebook users ranging from Australia to South Korea to India and Britain were greeted with a message saying ‘Sorry, something

Bangladesh Bank is likely to increase private sector credit growth target in the upcoming monetary policy for the financial year 2014-15 in a bid to stimulate dwindling private sector, said officials of the central bank. The BB may announce the monetary policy in the second week of July. A BB official told New Age on Wednesday that ... Read more

Mozaffer Ahmed and Swadesh Ranjan Bose jointly got the Bangladesh Bank Award-2013, a BB press release said on Wednesday. Both of the economists were awarded posthumously. ‘Professor Dr Mozaffer Ahmed was an exceptional and multitalented researcher,’ the central bank said while announcing the award. The BB also mentioned that Mozaffer contributed

DSE seeks clarification from BSEC Dhaka Stock Exchange has requested the capital market regulator to clarify in what category the Lafarge Surma Cement, which is now under junk Z category, will be placed after the declaration and disbursement of 5 per cent interim cash dividend by the company. Lafarge, which has been under Z category for ... Read more

The Bangladesh Telecommunication Regulatory Commission has awarded two National Internet Exchange licences for the first time to route domestic internet traffic. BTRC chairman Sunil Kanti Bose on Wednesday handed over the licences to Bangladesh Internet Exchange Trust and Novocom at BTRC, said a news release. Novocom managing director Syed Moinul Haque

The government should formulate the relevant rules and regulations of the Geographical Indication Act 2013 in order to protect the patent rights of traditional products, speakers at a discussion meeting on Tuesday said. The discussion on protecting Jamdani as a Geograpic Indication of Bangladesh was jointly organised by Centre for Policy Dialogue and

Bangladesh Securities and Exchange Commission fined Aman Cotton Fibres Limited, a yarn making company, and two of its issue managers Tk 15 lakh for providing forged documents with the applications for approval of initial public offering. Aman Cotton, which recently applied to the BSEC to go for IPO for raising Tk 100 crore from the investors, ... Read more

Factory Inspection Another RMG unit shut in Ctg The government-set review panel on Tuesday ordered suspension of production at a garment factory in the Chittagong port city following detection of structural flaws in the unit by European retailers’ inspection teams. The experts of the review panel comprising representatives from the government, EU Accord, North American Alliance, ... Read more

Urges govt not to impose gain tax on individual investors Leaders of the Bangladesh Merchant Bankers Association on Tuesday opposed the finance minister AMA Muhith’s latest remark on capital market investors. Such remark from the government will affect the overall capital market, they said while addressing a post-budget press conference held at a city hotel.

Bangladesh Bank on Tuesday introduced an automated system to identify the weak and problem-ridden non-bank financial institutions considering their financial capabilities. The BB introduced the new system to detect the financial problems of the NBFIs in the quickest possible time which will protect the financial institutions from an unexpected business crisis.

Dhaka Stock Exchange fell for the third trading session on Tuesday with the its key index, DSEX, hitting five-and-half month low as dissatisfied investors continued to sell shares fearing further fall in the market. DSEX fell by 0.45 per cent, or 19.88 points, to stand at 4,338.87 points on Tuesday, the lowest after 4,330.63 points on ... Read more

The country’s foreign exchange reserves crossed $21-billion mark for the first time on Monday as Bangladesh Bank purchased US dollars worth around $5 billion this fiscal year to keep taka stable against greenback. A BB official told New Age that foreign exchange reserves stood at $21.03 billion on Monday as the central bank purchased $87 million ... Read more

An agreement for Japanese loans worth US$ 1.18 billion to implement five development projects was signed in Dhaka on Monday. The projects include a coal-fired power plant and efficient use of natural gas in the energy-starved country. Three other projects are linked to improvement of city

Anti-Formalin Drives Supply shortage pushes up fruit prices The prices of mangoes and litchis increased in the city’s retail markets in the last few days due to a supply shortage of the summer fruits amid government’s drives against chemically-treated fruits. The government began the drives against the malpractice on June 9. On June 13, Dhaka Metropolitan ... Read more

Committee formed to formulate guidelines Bangladesh Bank has taken initiative to reduce the transaction fee for mobile financial service as the clients are now giving their respective banks charges between Tk 18 and Tk 20 for a single transaction amounting to Tk 1,000 through the service. The central bank has already formed a technical committee