Detects other faults like lack of fire equipments, doors Ninety-nine per cent of the 508 readymade garment factories the Alliance for Bangladesh Worker Safety has inspected are found structurally sound, said Alliance officials. The North American retailers’ platform has listed for inspection a total of 630 garment units from which its members procure products. Of the ... Read more
Business
Dhaka stocks fall flat amid profit taking sales
Dhaka stocks fell flat on Thursday with turnover remaining the same as the day before when a section of investors went on selling shares following last two days’ rise. DSEX, the benchmark general index of Dhaka Stock Exchange, declined 0.01 per cent, or 0.50 points, to close at 4,430.47 points. Turnover of the
20pc tax rebate likely for industry shifting to less-developed regions
Industries to be relocated in the underdeveloped regions in the country from the overcrowded cities like Dhaka are likely to get an attractive income tax rebate in the coming budget for the fiscal year 2014-15, finance ministry officials said. Finance minister Abul Maal Abdul Muhith may propose
Atiur claims good corporates getting loan at 11pc interest
Bangladesh Bank governor Atiur Rahman on Wednesday said that the good corporate organisations are getting loans at 11 per cent interest. ‘I have been told by the business people that they are getting loan at 11 per cent,’ he said while speaking as chief guest at a luncheon organised by American Chamber of Commerce in Bangladesh ... Read more
Foreign loan release up by 17pc in 10 months
The disbursement of foreign loans and grants increased by 17.04 per cent in 10 months of the current fiscal year of 2013-14, showed the latest data of Economic Relations Division. The total disbursement in July-April period was $2,369.58 million against $2,024.44 million in the same period of the previous fiscal year. The commitments of foreign loans
BB warns BASIC Bank of action
Recruitment Anomalies BB warns BASIC Bank of action Bangladesh Bank on Wednesday warned BASIC Bank of taking punitive measures as the bank is not maintaining the rules and regulations in the recruitment and promotion process of its manpower. To this end, the BB issued a letter to managing director (current charge) of BASIC Bank asking him ... Read more
HRW urges govt to release reports
Factory Inspection HRW urges govt to release reports New-York based human rights watchdog, Human Rights Watch, has urged the government to make public the findings of garment factory safety inspections carried out after the April 2013 Rana Plaza catastrophe that killed and injured several thousand workers. HRW made the urge in a posting in its official ... Read more
1pc surcharge on polluting industry likely
Budget Fy2014-2015 1pc surcharge on polluting industry likely The government is going to impose eco tax in the form of surcharge from the coming fiscal year of 2014-15 on industries responsible for polluting environment in a bid to control pollution and encourage establishment of green industries, officials of the National Board of Revenue said. The finance ... Read more
Imports rise by 10.64pc in April on Ramadan item inflow
Import bill payment posted a10.64-per cent growth in April this year compared with that of 2.30 per cent growth in the same month last year due to a rise in payment of bills for food products imported to meet demand in the upcoming Ramadan. According to the Bangladesh Bank data released on Sunday,
Insurance companies advised to help combat money laundering
Insurance companies have been advised to play active role in combating money laundering and terror financing. The suggestion came at a conference, of the chief executives of the country’s insurance companies, held in the city on Sunday. Addressing the conference, Bangladesh Bank governor Atiur Rahman said Bangladesh already came out of the gray list
Bangladesh to make 8pc tourism growth this year: WTTC
The World Travel and TourismCouncil has forecasted that total contribution of travel and tourism sector to Bangladesh GDP will rise by 7.9 per cent in the 2014. ‘The total contribution of travel and tourism to GDP was Tk 46.03 crore (4.4 per cent of GDP) in 2013 and is forecast to rise by 7.9 per ... Read more
DSE turnover hits fresh 7-month low
Turnover at the Dhaka Stock Exchange hit a fresh seven-month low on Sunday as most of the investors, unnerved by the downward trend in share prices in recent weeks, refrained from trading. Turnover at the DSE declined to Tk 182.81 crore on Sunday from Tk 258.79 crore in the previous trading session. Sunday’s turnover was the lowest ... Read more
Jobless workers not getting lawful benefits
Rmg Unit Inspection Jobless workers not getting lawful benefits More than 12,000 garment workers who lost their job due to production suspension at 20 factories at the suggestion of Alliance and Accord, two retailers’ groups, are yet to get their termination benefits stipulated in the labour act from their respective companies. Labour leaders alleged that the ... Read more
Last-stage boro harvest hints at bumper production
Farmers deprived of better price due to slow govt procurement The county is going to get a ‘bumper’ production of boro rice with the growers nearing the finishing stage of the harvesting of the major variety of the crop in terms of production volume, said the Department of Agricultural Extension and the growers. DAE officials ... Read more
ICT sector demands withdrawal of VAT on internet
The country’s information, technology and software business-related associations on Saturday demanded withdrawal of value added tax on internet to reduce the end-user-level cost. They placed the demand at a pre-budget discussion organised the Bangladesh Association of Software and Information Services, Bangladesh Computer Samity and the Internet
Govt reduces poverty cut budget at 1.56pc rate in 5 years: UO
Local think-tank Unnayan Onneshan has said that the government is reducing the budgetary allocation for poverty reduction at the rate of 1.56 per cent in last five years. In the latest economic update in May the research organisation urges for adoption of creative social policy framework to address the increased migration,
Stocks extend losing streak to 4th week
Dhaka stocks last week extended bear run to the fourth week as investors continued to sell shares amid a legal battle over mandatory 2 per cent shareholding by listed company sponsor-directors, market operators said. They said uncertainties following the finance minister’s announcement that the government ‘would not allow’ legalisation of undisclosed
Women entrepreneurs assured of more industrial land allocation
Industries minister Amir Hossain Amu on Saturday assured the women entrepreneurs of increased allocation of land in the country’s industrial zones so they can contribute to the national economy further. The assurance came at an award giving ceremony of the Bangladesh Women Chamber of Commerce and Industry at the multipurpose hall of the Diploma
High demand pushes up prices of vegetables, gram, sugar
The prices of most vegetables, gram and sugar increased on the retail markets in the city over the week ending Friday. Traders said that the supply of the items was available in the kitchen markets but the prices went up due to increased demand. The prices of most vegetables increased by
Farmers hit hard as political unrest raised production cost
FY 2013-14 Farmers hit hard as political unrest raised production cost The country’s farmers incurred losses in growing their crops due to increased cost of production and lower prices of their produces in the local markets during the outgoing financial year 2013-14, according to growers and agriculturists. The farmers had to suffer from damage of ... Read more