Business

India ups minimum onion export price to $900 a tonne

The soaring onion price in the country may jump afresh as the Indian government increased further the minimum export price to $900 a tonne from $650 on Thursday. The Bangladeshi importers who opened letters of credit for import of onion from India with a price of $650 a tonne were forced to take onion at $900 a tonne on Saturday, […]

September 22, 2013 · 0 comments · Business

Garment safety: EU Accord team arrives Monday for follow-up meeting

A five-member delegation of EU Accord on Fire and Building Safety in Bangladesh arrives in Dhaka on Monday to hold a follow-up meeting with the Bangladesh Garments Manufacturers and Exporters Association regarding the platform’s action plan. The delegation will hold the meeting to set the next course of action, including starting factory inspection and disbursement of fund, BGMEA vice-president Shahidullah […]

September 22, 2013 · 0 comments · Business

Microsoft suspects pirated software may lead to increased cyber crimes

Microsoft in a letter to the finance ministry in the past week suspected that the use of pirated software could expose computer networks to risk, resulting in an increase in cyber crimes. Finance ministry officials said that Microsoft suspected that information could be stolen from government and banking networks through the use of pirated software. Information being stolen from government […]

September 22, 2013 · 0 comments · Business

7-day income tax fair: NBR collects Tk 800cr in six day

The National Board of Revenue on Saturday set record in providing services to people and receiving income tax returns in six days of the weeklong income tax fairs across the country, according to NBR data. The fairs which began on Monday end today. In the first six days, the revenue board surpassed the number of service receivers and income tax […]

September 22, 2013 · 0 comments · Business

Proper use of taxpayers’ money to encourage people to pay tax

Md Bashir Uddin Ahmed, member (tax administration and human resource management) of the National Board of Revenue, talks about the idea behind the tax fair and current tax collection situation in the country in an interview with New Age on Saturday. Interviewed by Jasim Uddin and Ahmed Shawki New Age: What is the idea behind the income tax fair? Md […]

September 22, 2013 · 0 comments · Business

SCB to let customers pay British Council exam fees online

The Standard Chartered Bank in collaboration with the British Council Bangladesh recently launched an examination fee collection solution based on SCB’s consumer banking internet channel — iBanking, said a press release. All SCB account holders can now pay British Council exam fees through the i-Banking portal of the bank. This enables them to pay for different exams without having to […]

September 22, 2013 · 0 comments · Business

Fear of political unrest rules stocks

Dhaka stocks inched up last week amid volatile trading as the market failed to sustain the momentum it had at the beginning of the week with fresh political unrest dejecting the investors. DSEX, the benchmark general index of the Dhaka Stock Exchange, closed at 4,097.71 points, adding 0.48 per cent, or 19.76 points. The blue-chip index of the DSE, DS30, […]

September 22, 2013 · 0 comments · Business

BBF awards 8 firms for creative genius

The Bangladesh Brand Forum, a forum for brand promotion, awarded eight firms for their achievements in creative works in the field of advertisement and communication at an event at Sonargaon Hotel in the city on Saturday. The Commward was given in 13 categories in three different ranks — Grand Prix, Gold and Silver — for their works in print, TV […]

September 22, 2013 · 0 comments · Business

Farm sector defaulted loan rises by 21pc

The defaulted loans in the agriculture sector increased by 21.06 per cent in the last one year as the banks did not take adequate initiatives to recover their loans disbursed to the farmers, said Bangladesh Bank officials. Besides, the officials said, a large number of farmers failed to repay their loans in the period after counting losses by cultivating farm […]

September 21, 2013 · 0 comments · Business

Tax fair draws huge crowd

The income tax fair in Dhaka drew huge crowd on Friday, a public holiday, but taxpayers complained that they struggled to find satisfactory services at the fair. Officials of the National Board of Revenue said that they increased the number of booths by 20 at the Officers’ Club, the fair venue in Dhaka, on Friday to cope with the huge […]

September 21, 2013 · 0 comments · Business

Prices of onion, vegetables on the rise

The prices of vegetables and onion went up on the retail markets in the city over the week ending Friday. Traders said the prices of vegetables increased because of a supply shortage amid general strike in last week. Most of the vegetables saw an increase of Tk 5-Tk 10 a kilogram in their prices. Aubergine was selling at Tk 50-Tk 60 a kg, okra […]

September 21, 2013 · 0 comments · Business

8 arrested over $2m e-theft from Barclays in London

British police said Friday they have arrested eight men after a gang stole £1.3 million (1.5 million euros, $2.09 million) from Barclays bank by taking control of a branch computer system. The men, aged between 24 and 47, were arrested on Thursday and Friday morning on allegations of conspiracy to steal from Barclays and conspiracy to defraud British banks. They […]

September 21, 2013 · 0 comments · Business

BB sounds fake currency alert

The Bangladesh Bank has sent letters to the home ministry and all commercial banks asking them to check inflow of fake currency in all cattle markets across the country ahead of Eid-ul-Azha. In the letter, the central bank has asked them to take adequate measures to detect counterfeit notes in the markets. The committees, formed at national and district level […]

September 21, 2013 · 0 comments · Business

BB’S FINANCIAL STABILITY REPORT FOR 2012: Volatile stocks, bank scams destabilise financial sector

The Bangladesh Bank on Sunday said the stability of the country’s financial sector was adversely affected by the capital market volatility, financial scams in the banking sector, and declining trend in the real GDP growth. The BB presented the observations in its financial stability report for 2012 that was disclosed at the central bank headquarters in the capital. The report […]

September 16, 2013 · 0 comments · Business

403 taxpayers across country rewarded

The National Board of Revenue on Sunday rewarded 403 income taxpayers from across the country in recognition to their contributions as the highest and long-time taxpayers. The NBR handed over tax cards, crests and certificates to the taxpayers at seven different programmes in divisional headquarters organised on the occasion of the National Income Tax Day-2013. Among the taxpayers, the revenue […]

September 16, 2013 · 0 comments · Business

Pragati wants to assemble Pajero ASX model for local market

State-run Pragati Industries Limited is willing to assemble Pajero ASX model mini jeep which has a good demand in the local market, Pragati officials said. The said that they sent a proposal for assembling Pajero ASX model mini jeep to Mitsubishi Motors Corporation, the Japanese manufacturers, in June. A 2000 cc Pajero ASX mini jeep would cost around Tk 46 […]

September 16, 2013 · 0 comments · Business

Alliance to finish inspection of 500 RMG units by July

Alliance for Bangladesh Worker Safety Initiative, a consortium of North American clothing brands and retailers, will complete inspection of a total of 500 readymade garment factories, which supply products to them, by July next year as scheduled, labour secretary Mikail Shipar said on Sunday. He said this after a meeting with a delegation of North American Alliance at Meghna, the […]

September 16, 2013 · 0 comments · Business

ICB plea for 9 MFs’ merger with Bangladesh Fund rejected

The Bangladesh Securities and Exchange Commission has cancelled an application of the Investment Corporation of Bangladesh for merging its nine mutual funds, which will finish their tenure this year, with the Bangladesh Fund. The Bangladesh Fund, a Tk 5,000-crore stock market stabilisation fund, has so far managed around Tk 1,600 crore. The fund was formed in May 2011 to rescue the small-scale […]

September 16, 2013 · 0 comments · Business

Dhaka Stocks bounce back

Dhaka stocks rebounded on Sunday, the first trading session of the week, with a higher turnover as the investors were active on the trading floor to buy shares on the cheap. The benchmark general index of the Dhaka Stock Exchange, DSEX, increased to 4,123.90 points, adding 1.12 per cent, or 45.95 points. DS30, the blue-chip index of the DSE, closed […]

September 16, 2013 · 0 comments · Business

BB opposes govt plan to hike savings tool interest rates

The Bangladesh Bank has opposed a plan of the government to increase interest rates of national savings certificates saying that the proposed measure will hurt the business of banks as their cost of obtaining funds will increase. Once the yield rates on the national saving certificates are increased, the banks will have to hike the interest rates on deposits resulting […]

September 15, 2013 · 0 comments · Business

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