Business

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

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

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

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 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

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

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

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

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

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

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,

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

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

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

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

Targets 100m tourists a year by 2020 President Barack Obama vowed Thursday to cut long and frustrating lines at customs for foreigners arriving at US airports in a bid to lure 100 million tourists a year by 2020. Obama promised to maintain national security but ease the entry of travellers as he launched a new tourism ... Read more

The government is planning to slash the supplementary duty (SD) on import of fabrics in a bid to deal with the problem, amid the allegation that the fabrics imported for the 100 per cent export-oriented garment industries under the bonded warehouse system are often smuggled out. According to sources at the National Board of Revenue, the ... Read more

In line with its policy to diversify both products and markets to achieve higher export growth, the government wants to take a serious look at the idea of ‘One District One Product’. Since the country has a limited number of products in its export basket, the idea will help enlarge it and thus give a boost ... Read more

Bangladesh Bank governor Atiur Rahman has said Asian Clearing Union needs to deepen further the regional trade and economic integration for inclusive and environmentally sustainable growth. He termed the ACU member countries as a significant collective global growth hub. ‘We, ACU member countries, are already collectively a significant global

The government is going to raise the surcharge on net assets of rich people and to increase slabs in a bid to ensure progressive taxation in the country, officials of the National Board of Revenue said. They said that finance minister Abul Maal Abdul Muhith might propose a total of four slabs in surcharge with highest ... Read more