Business

Cash sections of all BB branches to remain open Saturdays

The cash sections of all the branches of the Bangladesh Bank, including that of security and payment against deposit, will remain open on Saturdays, said an official of the central bank on Thursday. A directive from the Bangladesh Bank head office has been sent to the authorities concerned, he told the news agency. He said the decision will remain unchanged […]

March 29, 2013 · 0 comments · Business

8th Dhaka Motor Show 2013 begins in city

The 8th Dhaka Motor Show 2013 began at the Bangabandhu International Conference Centre in the city on Thursday. CEMS Global – Conference & Exhibition Management Services USA in association with CEMS Bangladesh is organising the event, said a press release. Commerce minister GM Quader was present at the inaugural ceremony as the chief guest while Indian deputy high commissioner Sandeep […]

March 29, 2013 · 0 comments · Business

Include six-month maternity leave in HR policy BB asks banks

Bangladesh Bank on Thursday asked the scheduled banks to include six-month maternity leave in their human resource management policy. The BB issued a circular to MDs and CEOs of all the scheduled banks saying that the banks should send the policy with the approval of their respective board of directors to the Banking Regulation and Policy Department of the central […]

March 29, 2013 · 0 comments · Business

Final GSP review in May or June, says US ambassador

The final review by the United States Trade Representative on Generalised System of Preferences facilities for Bangladesh will be held in the middle of May or early June, said US ambassador Dan W Mozena in Dhaka on Thursday. If Bangladesh loses its GSP facilities in the US, it would give a negative signal around the world as a trade partner, […]

March 29, 2013 · 0 comments · Business

Stocks rise but turnover dips to 2-month low

Dhaka stocks turned positive on Thursday but the turnover hit a two-month low as the investors, both retail and institutional, remained cautious in trading because of the market’s ongoing downtrend. The benchmark general index of the bourse, DSEX, advanced by 1.06 per cent, or 38.95 points, to finish at 3,681.65 points on the day. It had declined by 251.91 points […]

March 29, 2013 · 0 comments · Business

Stan Chart signs Tk 100cr microfinance deal with ASA

Standard Chartered Bank recently signed a credit facility agreement worth Tk 100 crore with ASA, one of the leading microfinance institutes. This fund will enable ASA to change the lives of over 60,000 borrowers and their family members across the country, said a press release. SCB CEO Jim McCabe mentioned that this was part of the bank’s global initiative to […]

March 29, 2013 · 0 comments · Business

Investment flow to go up despite difficulties: Muhith

Finance minister AMA Muhith on Thursday hoped that the investment flow into the country would be a bit higher this fiscal despite various difficulties and attempts to create awkward situations. ‘So far, the trend in the nine-month period indicates the investment flow will be a bit higher this year,’ he said. The finance minister was addressing a seminar titled ‘Need […]

March 29, 2013 · 0 comments · Business

PADMA BRIDGE FUNDING: NBR drops plan to impose surcharge

The National Board of Revenue has shelved its plan to impose surcharge on different sectors to raise funds for implementing the much-vaunted Padma Multipurpose Bridge project. ‘We will not impose any surcharge on any sector for the construction of the bridge and no new or additional tax will be imposed on taxpayers for this purpose,’ NBR chairman Ghulam Hussain told […]

March 28, 2013 · 0 comments · Business

Revenue collection pace still slow in July-Feb

Revenue collection by the National Board of Revenue fell short of the target for the first eight months of current fiscal year by 4.5 per cent or Tk 3,114 crore mainly due to failure in achieving target by VAT and customs wing of the NBR, said officials. Current political unrest, frequent hartals, sluggish trends in export and negative growth in […]

March 28, 2013 · 0 comments · Business

3G LICENCE FEE: Mobile operators want full VAT rebate

Private mobile phone operators have requested the finance minister AMA Muhith to give full rebate of value-added tax on payment for 3G service licence. The request was made last week after the minister had ‘agreed’ to reduce the VAT to 7.5 per cent from 15 per cent. Five operators, Grammephone, Robi, Banglalink, Airtel and Citycell, sent separate letters to Muhith […]

March 28, 2013 · 0 comments · Business

BSEC okays IPO of Central Pharma

Bangladesh Securities and Exchange Commission on Wednesday approved Central Pharmaceuticals Limited’s proposal to raise Tk 14 crore through initial public offerings, said a BSEC release. The BSEC made the decision at a regular meeting held on the day. Central Pharmaceuticals will offload its 1.40 crore shares against a face value of Tk 10 each. The company will use the IPO […]

March 28, 2013 · 0 comments · Business

Customs houses to work 7 days a week

The government has decided to keep all customs houses open on Fridays and Saturdays and all authorised dealer branches of scheduled banks on Saturdays to facilitate export and import activities that have been facing obstructions caused by the ongoing political unrest, particularly frequent general strikes. The National Board of Revenue in an office order on Wednesday said customs offices would […]

March 28, 2013 · 0 comments · Business

New Biman MD vows to bring positive change in 3 months

Biman’s first ever foreign managing director and CEO Kevin Steel vowed to bring positive change in management, punctuality and customer services within three months to lead the national flag carrier to the ultimate target of becoming a profitable entity. ‘There is a lot of work to do and it will take several months to see significant change, I am confident […]

March 28, 2013 · 0 comments · Business

Stocks hit 13-month low as free fall extends to 4th day

Dhaka stocks declined sharply on Wednesday, extending the losing streak to the fourth session, as the old benchmark general index of the bourse, DGEN, hit a 13-month low amid panic sell-offs by the investors on the first day of the 36-hour strike. At the end of the trading session, a section of investors staged a demonstration in front of the […]

March 28, 2013 · 0 comments · Business

Turkish Airlines set for first flight to Houston

Turkish Airlines is set to add another destination in the US as flights to Houston will start on April 1. They have existing services to Chicago, New York, Washington DC and Los Angeles till date, said a press release. Flights between Istanbul and Houston will initially operate four times per week — on Mondays, Tuesdays, Fridays and Saturdays. Introductory round […]

March 28, 2013 · 0 comments · Business

GP pays Tk 140cr VAT after long legal battle

Grameenphone on Monday paid Tk 140 crore as value-added tax on 2G licence renewal fees to the National Board of Revenue within the deadline set by the tax administration, officials concerned said. On the other hand, three other mobile operators–Banglalink, Robi and Citycell– paid a portion of their dues of Tk 196.76 crore as tax on SIM and RIM card […]

March 26, 2013 · 0 comments · Business

297 get VoIP licences on first day

The Bangladesh Telecommunication Regulatory Commission on Monday handed over 297 licences to qualified applicants to provide Voice over Internet Protocol service on the first day of issuance of 863 licences. BTRC chairman Sunil Kanti Bose handed over the licences to the applicants at a ceremony at the commission office in the capital. Bose urged the licensees to operate the business […]

March 26, 2013 · 0 comments · Business

Investment in NSCs in eight months only 7pc of FY target

The net investment in national savings certificates in the first eight months of the current financial year stood at only 542.76 crore, or 7.33 per cent of the annual target, as clients continued to encash their certificates prematurely. Officials of the Directorate of National Savings told New Age on Monday that the government might miss its annual target of Tk 7,400-crore […]

March 26, 2013 · 0 comments · Business

New BGMEA office bearers take charge

The newly-elected president of Bangladesh Garment Manufacturers and Exporters Association, Md Atiqul Islam, on Monday said if required they would appoint lobbyist to attain generalised system of preferences facilities for the garment sector in the US market. He made the comment at the charge handover ceremony at the BGMEA auditorium in the city. The immediate past president of the BGMEA, […]

March 26, 2013 · 0 comments · Business

POLICY SUPPORT FOR STOCK MARKET: BB should keep its promise: bankers

The Bangladesh Bank should keep its promise of giving policy supports to the capital market to make commitments made by banks to the market effective, said Bangladesh Association of Banks chairman Nazrul Islam Mazumder on Monday. He said the BB agreed to withdraw banks’ provisioning of unrealised losses from the stock market investment but the facility was given only for […]

March 26, 2013 · 0 comments · Business

Advertisement