Commerce Minister Tofail Ahmed has urged Finance Minister AMA Muhith to reduce the 1 percent tax at source for the apparel sector proposed in the budget for the 2015-16 fiscal year.Ahmed has sought a ‘tolerable’ rate of the tax at…
Category: Business
Traffic jam becomes endemic in capital
Life in Dhaka city remained seriously affected by huge tailback of traffic on almost all roads, lanes and bylanes for the last three days. The traffic congestion has been exaerbated by monsoon rinfall that has caused water logging in many…
IBBL Board of Directors meet held
A meeting of the Board of Directors of Islami Bank Bangladesh Limited was held on Saturday at Islami Bank Tower. Engr. Mustafa Anwar, Chairman of the Bank, presided over the meeting. Local and foreign Directors along with Mohammad Abdul Mannan,…
Edible oil, meat costlier but vegetables cheaper in Dhaka as rains play havoc
The prices of essential commodities on high demand during Ramadan are rising, while the vegetables prices dropped.The prices of lentils, palm oil, soybean oil, ginger, chicken and beef increased from those of the last week. But in the capital’s kitchen…
Dhaka set to sign for Beijing led Asian Infrastructure Bank
Bangladesh is set to sign the Articles of Agreement (AoA) of the Asian Infrastructure Investment Bank (AIIB) on June 29 in Beijing in which the country is expected to get less than one percent or 0.6729 percent shares of the…
RDP Finance disappears, thousands duped
Hundreds of depositors have filed two criminal cases in Patuakhali Sadar police station, alleging they have been duped of nearly TK 200 million by RDP Finance & Investments MCS Limited.This company has been approved by the Ministry of Cooperatives. Its…
Oil steadies as stronger demand balances glut
Crude oil prices steadied just above $60 a barrel on Thursday as strong demand for oil products helped balance a global overhang of oil for immediate delivery.North Sea Brent crude oil LCOc1 traded within a narrow 58-cent range as investors…
FDA clears Bangladesh pharma heavyweights Square, Beximco to export drugs to US market
The US Food and Drug Administration has approved the factories of Bangladeshi pharmaceutical majors Square and Beximco.The two companies said this in separate statements on Tuesday.
Reduce tax to 10%, says Bangladesh Mobile Phone Importers Association
Importers of mobile phones in Bangladesh want tax reduced to 10 percent.Bangladesh Mobile Phone Importers Association told a Sunday press conference that the tax should be ‘tolerable’ and not exceed ten percent.
86th social business design lab held in city
The 86th Social Business Design Lab took place today 22 June 2015 at the Grameen Bank Auditorium. About 150 participants and observers, from national and international organizations with diverse background attended the program, including a large number of international visitors.…
Shop-owners demand withdrawal of rise in VAT proposed in budget
Shop-owners have demanded withdrawal of a Value Added Tax (VAT) hike proposed in the budget for the 2015-16 fiscal.Bangladesh Shop-owners’ Association organised a press conference at Dhaka Reporters Unity to press for their demand on Saturday.
Prices of food items double on first Ramadan to upset household budgets
The price of food commodities used to make Iftar at the kitchen markets of Dhaka has doubled at the beginning of Ramadan, upsetting household budgets.The markets at Karwan Bazar, New Market, Hatirpool, Fakirerpool, Gopibagh and Mugdaparha charged Tk 5 to…
Swiss banks ‘reported possible FIFA money laundering’
Swiss prosecutors are investigating 53 cases of possible money laundering in their inquiry into bidding for the 2018 and 2022 Fifa World Cups. Attorney General Michael Lauber said the incidents had been reported by Swiss banks. He said his office…
Bangladesh businesses ask for 0.3% tax at source on apparel exports
Businesses have demanded retaining 0.3 percent tax at source on export of readymade clothing.They have called for withdrawal of the one percent tax proposed in the budget for the 2015-16 FY.
FBCCI urges govt to punish market manipulators
Apex business body FBCCI has urged the government to take stern measures against anyone trying to manipulate the market.It has said there is adequate supply of essentials.
IBBL 32nd AGM announces 15 pc cash dividend
Islami Bank Bangladesh Limited approved 15% cash dividend for the shareholders for the year 2014. The dividend was approved in the 32nd Annual General Meeting of the Bank held on June 13 Saturday at Bangabandhu International Conference Centre, Dhaka. Engr.…
Government department asks DCs, SPs to keep goods supply, prices stable in Ramadan
Department of Agriculture Marketing has sought cooperation from deputy commissioners and superintendents of police of all the districts to keep supply and prices of commodities stable during the Ramadan.Director Md Mahbub Ahmed sent letters to the district-level administrative and police…
Nepal to ink transport deal with India, Bangladesh, Bhutan
Nepal will sign the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicles Agreement in Thimphu on Monday to facilitate transportation of both people and goods among the four SAARC member countries. Minister for Physical Infrastructure and Transport Management Bimalendra Nidhi…
Asian shares drift higher, dollar keeps gains
Asia share markets made guarded gains on Friday and the dollar held firm in the wake of reassuringly upbeat US retail data, though the mood was cautious as Greek debt talks took yet another confusing turn.Activity was sparse with MSCI’s…
Saudi Arabia ready to raise oil output further to meet demand
Saudi Arabia is ready to increase its oil output in the coming months to a new record to meet a rise in global demand, despite increased domestic use, a senior state oil company official said on Thursday. Ahmed Al-Subaey, Saudi…
Bangladesh considering inclusion of private agencies to send workers to Malaysia
A process is on to include private Bangladeshi recruiting agencies in the government-to-government system of sending workers to Malaysia.The Bureau of Manpower, Employment and Training (BMET) officials said the government was holding talks with Malaysia on the matter.
Mango trading started widely in North
Mango trading has gained momentum with appearance of several varieties of mango in the markets of Rajshahi and Chapainawabganj districts.Besides the market, Hat and other growth centre ones, the mango-based trade and business has changed the rural economic scenario of the region as…
Budget good for stock market: DSE
Finance Minister AMA Muhith’s budget proposals will create a favourable climate for stock markets, feels Dhaka Stock Exchange (DSE) chairman Justice Siddiqur Rahman Mia.”Whatever steps have been suggested in the budget proposals for the stock markets will end up boosting…
Bangladesh stock market starts week after budget on upbeat note
The stock market has opened the week’s trading on an upbeat mood, sucking in the impact of several incentives proposed in the 2015-16 budget.Of the traded issues, 146 moved up, 117 dropped and 49 remained unchanged.In Chittagong Stock Exchange (CSE),…
‘Time for big push’
Describing the revenue target of Tk 2 trillion in the 2015-16 national budget as a ‘challenge’, Finance Minister AMA Muhith says this is the ‘time for a big push’ to take the economy forward.
Use B’desh as manufacturing base – Atiur to Indian busineses
Bangladesh Bank (BB) Governor Dr. Atiur Rahman has urged Indian businesses to utilize Bangladesh as low cost manufacturing base to produce goods for local, Indian, and global markets, taking into account favored market access for exports from the country.
Nestle withdraws Maggi noodles in India after food scare
Food group Nestle has withdrawn Maggi noodles from sale in India due to “an environment of confusion for consumers”, following a food scare sparked by reports of excess lead in some packets of the popular instant snack. Nestle reiterated the…
Adverse impact of free trade, investment agreements on HR
Geneva – A number of free trade and investment agreements, such as the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), are currently being negotiated. A group of UN experts* have issued the following statement to express…
Corporate tax cut for listed firms, tax-free dividend income ceiling raised for stock market expansion
Finance Minister AMA Muhith has proposed a cut in corporate tax for companies listed on the stock market and a rise in the ceiling of tax-free dividend income.