Business

Brazil workers protest nationwide for better conditions

Striking workers blocked highways and staged mainly peaceful marches across Brazil Thursday in a day of industrial action called by unions to demand better work conditions and tougher measures to contain rising inflation. The ‘National Day of Struggle’ was called by the country’s top five labor federations during last month’s nationwide street protests for better public services and an end […]

July 13, 2013 · 0 comments · Business

Five reasons kept American cos away from signing Bangladesh safety deal

Earlier this week Walmart, Gap and 15 other North American clothing companies were roundly criticised by labour groups after the retailers signed on to a plan meant to improve conditions for workers in Bangladesh, reports the Huffington Post. Their agreement was separate from an earlier pact signed by fast fashion monolith H&M and 69 other mainly European retailers also meant […]

July 13, 2013 · 0 comments · Business

Govt moves to collect ideas for developing mobile apps

The government has moved to collect ideas on various public services from its directorates and departments for developing mobile applications to reach service at hand, officials said. The information and communication technology ministry has already received 20 ideas about women development issues including women’s personal safety service, healthcare tips and poultry farming generated by women working with the Department of […]

July 13, 2013 · 0 comments · Business

Trade deficit declines by $2.32b in 11 months

The country’s trade deficit declined to $6.32 billion in the first 11 months of the just concluded fiscal year from $8.64 billion recorded in the corresponding period of the FY 2011-12. The deficit went down by 26.78 per cent in July-May of the FY 2012-13 compared with that of a 6.12-per cent growth in the same period of the FY […]

July 12, 2013 · 0 comments · Business

REGULATIONS FOR SPECIAL TRIBUNAL: BSEC extends time for drafting body for 3rd time

The Bangladesh Securities and Exchange Commission for the third time has extended the timeframe for finalising the draft regulations to form a special tribunal for conducting the stock market-related cases as the committee concerned has missed the second deadline. The BSEC sources said the assigned committee did not submit the draft rules on special tribunal as it could not finalise […]

July 12, 2013 · 0 comments · Business

India disburses $50m 3rd tranche of $200m grant

India on Thursday disbursed its 3rd tranche of $ 50 million grant to Bangladesh as part of its earlier commitment of providing a total of $ 200 million grant out of its $1 billion Line of Credit to Bangladesh. Indian high commissioner in Dhaka Pankaj Saran handed over the 3rd trance cheque to finance minister AMA Muhith when he met […]

July 12, 2013 · 0 comments · Business

US retailers’ plan for Bangladesh factory safety branded a sham

A plan developed by North American retailers including Gap and Walmart in an attempt to improve safety in Bangladeshi garment factories has been labelled a ‘sham’ by workers’ rights groups, reports Guardian. The two retailers were part of an alliance of 17 US and Canadian brands and retailers which on Wednesday launched a five-year agreement as an alternative to a […]

July 12, 2013 · 0 comments · Business

Japan, Bangladesh to work together to restructure risky RMG units

The governments of Japan and Bangladesh will work together to restructure the risky buildings of readymade garments industries in Bangladesh, said high officials of the two countries on Thursday. As part of the move, Japan International Cooperation Agency will provide Tk 100 crore in loan for infrastructure development of the readymade garments industries. The Japanese commitment announced at an expression of […]

July 12, 2013 · 0 comments · Business

Aubergine, cucumber prices soar further

The prices of aubergine and cucumber rose further in the city’s retail markets on Thursday, the first day of Ramadan, due to increased demand, while the prices of broiler, beef, onion, green chilli and ginger remained high on the day. Although the government on July 7 banned export of green chilli, aubergine, cucumber, coriander leaf and garlic to keep the […]

July 12, 2013 · 0 comments · Business

Stocks drop amid lower turnover

Dhaka stocks finished in the red with a declining turnover on Thursday as the investors went for sell-offs to make profits following the last two trading sessions’ sharp rise in shares prices. The blue chip index of the Dhaka Stock Exchange, DSEX, finished at 4,262.93 points, shedding 1.89 per cent or 82.52 points. The DSEX within the first 30 minutes […]

July 12, 2013 · 0 comments · Business

Wireless telecom for BR soon

Telecommunication system of Bangladesh Railway is being upgraded to fibre optic system from the existing copper-cable based telephony, which would facilitate modern telecommunication for railway by incorporating wireless device. The modern system would also enable the BR to improve its train operation through better communication. Grameenphone, a cellular phone operator in the country, introduced the modern telecommunication solution named ‘m-Centrex’ […]

July 12, 2013 · 0 comments · Business

VAT rate to be cut by 2015: Muhith

Finance minister Abul Maal Abdul Muhith on Wednesday said value-added tax rate would be lowered significantly by 2015 to facilitate business expansion in the country. ‘I think the existing VAT rate at 15 per cent is little bit high and hope the rate will be lowered enough,’ he said at a programme on National VAT Day at the Bangabandhu International […]

July 11, 2013 · 0 comments · Business

Import payments fall by 9pc in July–May

The country’s import bill payment registered a negative growth in the first 11 months of the immediate past financial year on year-on-year basis as the import of capital machinery, industrial raw materials, food grains and petroleum products declined sharply. According to the latest BB data released on Wednesday, the overall import bill payment in July–May of the FY 2012–13 posted […]

July 11, 2013 · 0 comments · Business

List of VAT payers who received NBR award

Highest VAT payers at the national level under production, services and business categories in financial year 2011-2012 are: Koilastila Gas Field (Sylhet), Rashidpur Gas Field (Habiganj), Haripur Gas Field (Sylhet), Bureau Veritas Consumer Products Services Bangladesh Limited (Savar), DHL Worldwide Bangladesh Ltd (Gulshan), Onmobile Global Ltd (Dhaka), Quasem Drycells Ltd (Dhaka), Tianshi Bangladesh Co Ltd (Dhaka) and Aarong (Uttara). Highest […]

July 11, 2013 · 0 comments · Business

Stocks hit 9-month high

Dhaka stocks gained for the second trading session on Wednesday with the old key index of the Dhaka Stock Exchange, DGEN, hitting a nine-month high thanks to the optimistic participation of the investors. The DGEN gained 1.85 per cent, or 86.73 points, on the day to finish at 4,770.48 points, the highest since September 25 last year when it ended […]

July 11, 2013 · 0 comments · Business

Domestic manufacturing capacity key to dev: Muhith

Finance minister Abul Maal Abdul Muhith on Wednesday said development of a country largely depended on its capacity of domestic manufacturing. So, he said, his government has taken special initiatives including giving tax incentives to the local manufacturers for boosting the industrial sector of the country. ‘Utilising the government facilities the local manufacturers including Runner Automobiles Limited and Walton have […]

July 11, 2013 · 0 comments · Business

Fourth edition of HSBC Export Excellence Awards launched

HSBC Bangladesh launched the fourth edition of HSBC Export Excellence Awards on Tuesday with a view to promoting Bangladeshi export and recognising the contribution of Bangladeshi exporters. Each year, the programme recognises five exporters for their contribution to the sustainable growth of Bangladesh through export, said a press release. The exporters are recognised in the following five categories — Exporter […]

July 11, 2013 · 0 comments · Business

BEF seeks more donor fund for workers’ dev

The developing partners should allocate more funds for skill development of workers in Bangladesh for increasing workers competitiveness on the international market, said the Bangladesh Employers’ Federation in the fourth global review of Aid for Trade Development organised by the World Trade Organisation. Donors should allocate more funds for different skilled development programme and reduce the formalities to make the […]

July 11, 2013 · 0 comments · Business

Export earnings up 11pc, fall $1b short of target

The country’s export earnings fell $1 billion short of government-set target standing at $27.01 billion in the just concluded financial year 2012–2013, according to Export Promotion Bureau data released on Tuesday. The year-on-year growth of export, however, increased to 11.18 per cent in the FY 2013 from 5.99 per cent in the FY 12 as the export of main item […]

July 10, 2013 · 0 comments · Business

Monetary Policy July-Dec: BB to set 16-17pc pvt sector credit growth target

Bangladesh Bank is going to take an expansionary monetary policy for July-December of 2013 in a belated move to stimulate the dwindling private sector, said officials of the central bank. The BB is likely to announce the monetary policy in the third week of this month. Economists and BB officials told New Age on Tuesday that the expansionary monetary policy […]

July 10, 2013 · 0 comments · Business

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