Business and Trade

NBR to review customs service charges

The National Board of Revenue has planned to review the current schedule of fees and charges for various services related to customs to make it commensurate with the

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Cattle fattening on ahead of Eid-ul-Azha

With Eidul Azha only a few days away, owners of cattle and goats are busy readying their animals for sale in the Qurbani hats, the markets where sacrificial animals are bought and

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Ctg port moves 6 notches up in container handling

Chittagong Port, the country’s main seaport, has advanced six notches in container-handling in the 2019 edition of Lloyd’s List. According to the Lloyd’s List survey report

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Pharma ingredient makers demand more tax benefits

Bangladesh API and Intermediaries Manufacturers Association has demanded more tax benefits in line with a cabinet decision and the National Active Pharmaceutical Ingredients (API)

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28 firms get national productivity awards

A total of 28 industries and service-oriented organisations have received National Productivity and Quality Excellent Award-2018 for their outstanding contribution to productivity

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Labour ministry asks for list of companies not contributing to welfare fund

Labour and employment ministry has requested the National Board of Revenue to provide the list of the names of companies that are not depositing their annual subscription to the

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A TIDY WAY TO MANAGE POWER SECTOR

The power sector is one of the successful areas of the Awami League government of successive tenures, with the generation capacity increasing nearly fourfold from some 4,000 MW to

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National Productivity and Quality Excellent Award goes to 28 industries

Industries ministry is going to adorn 28 industries and services oriented organisations with National Productivity and Quality Excellent Award-2018 for their outstanding

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Budget for 2034 will be of a trillion dollars: Kamal

Finance Minister AHM Mustafa Kamal yesterday said that the national budget in Bangladesh for the year 2034 will reach around a trillion US dollar. “We’ve given over Tk five

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EU to provide 142m Euro for strengthening public finance, social security

The European Union (EU) has launched a new financial package of €142 million to strengthen public financial management and social security in Bangladesh. The EU has reiterated

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Private sector credit growth hits 6-yr low

Private sector credit growth hit 6-year low in June this year amid rising liquidity crisis in the country’s banking sector due to soaring non-performing loans and poor deposit

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VAT on pharma items included in retail prices: NBR says

Pharmaceutical companies will have to consider that the rates of value-added tax on both production and sales of medicines are included in the retail prices of the products set by

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Banks asked to form cell to recover Tk 100cr-plus defaulted loan

Bangladesh Bank on Monday asked all the scheduled banks to form ‘special monitoring cell (SMC)’ for the supervision of classified loans amounting to Tk 100 crore and above to

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BTRC to finalise directives for mobile operators soon

The Bangladesh Telecommunication Regulatory Commission (BTRC) will soon finalise Equipment Identity Register (EIR) directives for mobile network operators (MNOs) in the country.

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Price fall in large-cap drives stocks down

Stocks on Sunday closed the session of the week with downward trend due mainly to price fall in large-cap securities. The falling major sectors were engineering, food and allied

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Tk 4,250cr earned through fish export from Khulna

The government earned Tk 4,250 crore through exporting 73,171 metric tons frozen shrimp and white fish from Khulna district in 2017-2018 fiscal year. More than 62,229 metric tons

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Row over dues: BTRC taking hard line against GP, Robi

Bangladesh Telecommunication Regulatory Commission (BTRC) is going to stop issuing fresh no objection certificates (NOCs) to Grameenphone and Robi over the row about dues to the

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No gas, power connection to industries set up in undesignated areas: Nasrul

State Minister for Energy and Mineral Resources Nasrul Hamid on Monday said gas and power connections would not be given to the industrial unit unless those are established in

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DU researchers again ‘find traces of antibiotics’ in milk samples

Researchers again claimed to have found traces of antibiotics in 10 samples of pasteurised and unpasteurised milk produced by several companies. Ten samples – seven pasteurised

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Telcos asked to submit Q2 payments to NBR

Bangladesh Telecommunication Regulatory Commission (BTRC) yesterday declined to receive last quarter’s (April - June, 2019) payments of different charges including revenue

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Bangladeshi apparel makers vent concern over EU-Vietnam FTA

Bangladesh will face stiff competition in apparel export to European Union (EU) as its competitor country Vietnam signed a free-trade agreement (FTA) with the EU, said BGMEA

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NBR to issue VAT consultant licence

The National Board of Revenue will give licences to eligible individuals as VAT consultants to advise businesses on issues related to value-added tax and represent them in tax

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NBR must collect Tk 1 lakh cr more

The National Board of Revenue in the current financial year 2019-20, will have to collect at least Tk 1 lakh crore or 46 per cent more than what it has collected in the just

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Stocks in red again as revised tax, gas price hike disappoint investors

Dhaka stocks returned to negative zone in the past week as investors were disheartened by the revised tax measures on the listed companies in the finance bill and the government

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Boeing’s Dreamliner plant is said to face federal inquiry

The US Justice Department, which has been looking into problems with Boeing is 737 Max jet, has broadened its investigation to include the production of the company is 787

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Automated migration process by this year

The migration process of Bangladeshi jobseekers will be brought under automation to save them from harassment by brokers and recruiting agencies, State Minister for Expatriates

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Overhaul budget system: Speakers

Speakers at a roundtable on Friday called for an urgent and complete overhaul of the budget system to attain the nation’s desired goal in line with the spirit of the Liberation

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Azerbaijan keen to import more Bangladeshi products

Azerbaijan wants to import different products, including furniture, ceramic tiles, pharmaceuticals and software, from Bangladesh. Ambassador of the Republic of Azerbaijan based

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Trade disputes to dominate as ASEAN meets in Bangkok

Southeast Asian leaders will dissect the impact of the US-China tariff war this weekend at a Bangkok summit, with Beijing determined to drive forward a trade pact sweeping in 40

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US ban will cost us $30 billion: Huawei

Huawei will miss sales forecasts by about $30 billion over the next couple of years because of a US campaign against its business, the founder and CEO of the Chinese tech company

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Telcos not allowed to erect new tower

As telecom operators do not have the right to erect new mobile phone towers, they must sell or lease their towers to companies having tower-sharing licences, according to the new

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Cos reluctant to follow BSEC order to block directors’ shares

The listed companies are showing their unwillingness to block their directors’ shares using a Central Depository Bangladesh module as per a directive market regulator Bangladesh

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Sweet taste to beat the heat

Only the heavenly taste of mango makes summer bearable in Bangladesh. Mango, known as the king of fruits, has a lot of health benefits. The antioxidant compounds in the fruit are

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Private sector credit growth hits 57-month low in April

Private sector credit growth hit a 57-month low in April this year amid rising liquidity crisis in the country’s banking sector due to poor deposit growth. As per the latest

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Summit, JERA Asia team up for $500m energy project

Summit Corporation and JERA Asia yesterday signed a memorandum of understanding to initiate an energy infrastructure project at Matarbari in Cox’s Bazar involving an investment

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Satkhira mangoes being exported to Europe this year, too

Buoyed by their success over the last three years, farmers Satkhira are all set to export mangoes produced in the district to the Europe this year, too. Deputy Director of the

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Panasonic joins firms stepping away from Huawei after US ban

Japan is Panasonic on Thursday said it would stop supplying some components to Huawei, joining a growing list of firms distancing themselves from the Chinese telecoms giant after

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Mobile networks in Asia, Europe suspending Huawei smartphones order

Mobile networks in Asia and Europe are suspending orders for Huawei smartphones following the US decision last week to restrict the company is access to American technology.

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Asia stocks fragile as trade anxiety overshadows Huawei reprieve

Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies failed to offset deeper

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NEC approves highest ever Tk 2,02,721cr ADP for FY20

The National Economic Council (NEC) yesterday approved the highest ever Tk 2,02,721 crore Annual Development Programme (ADP) for the next fiscal year (2019-2020) giving priority

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Boeing acknowledges flaw in 737 MAX simulator software

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346

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Govt’s bank borrowing rises as tax receipt slow

A sluggish growth in tax collection pushed the government to borrow from the country’s banking system in March and April this year as half of the annual development programme is

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Another Boeing added to Biman fleet

A Boeing 737-800 aircraft was added to the fleet of Biman Bangladesh Airlines on Thursday. The aircraft, brought on lease from Kuwait is Alfaco arrived at Dhaka airport around

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Suspicious financial transaction rises 64pc

The number of reports on suspicious transaction and activities about money laundering and terror financing has increased nearly 64 per cent in the fiscal year 2017-2018 in

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‘Misunderstanding’ between businesses, tax officials about VAT law ends: Kamal

Finance minister AHM Mustafa Kamal on Tuesday said that the much vaunted new value-added tax law would be implemented from July 1 as a ‘misunderstanding’ between the

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Asian markets track big losses after China retaliates

Asian markets extended a global sell-off Tuesday following hefty losses on Wall Street that came in response to China is hike in tariffs on $60 billion of US imports, ramping up

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RMG sector posts 12.59pc rise in export earnings

Thanks to value added products, government policy support, capacity enhancement and completion of 90 per cent of the factory remediation work set by Accord and Alliance, the

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Eco-friendly brick businesses pacing up

Imagine working in an office that uses sunlight instead of artificial lights for illumination and that has in place central air conditioning instead of the split or window air

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Export earnings growth slows down in April

The country’s export earnings in April posted a paltry growth of 2.69 per cent year-on-year, falling short of the government target. Although, export earnings in April

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Falling import costs, adequate stocks bring down date prices

Adequate supplies and a decline in import prices have brought down the wholesale prices of different categories of dates, a commodity highly consumed during Ramadan, compared to

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