Category: Business

Tax on mutual fund waived

DHAKA :The authorities have reduced by half the tax at source on brokerage commission and waived tax on income of mutual fund in a desperate bid to regain investors’ confidence in the stockmarket. The National Board of Revenue issued a statutory regulatory order (SRO) in this effect on Monday, M Khairul Hossain, chairman of the Securities and Exchange Commission (SEC), told a press briefing at his...

Govt forms advisory council on stock market

DHAKA- The government today formed a six- member Advisory Council with Finance Minister Abul Maal Abdul Muhith as its chief to monitor the stock market activities regularly and recommend the effective ways of stabilizing the market. The other members...

Govt mulls to set transit fee by March next

DHAKA-Finance Minister AMA Muhith on Sunday said that the government is mulling to fix the transit fee for Indian cargoes passing over Bangladesh territory by March next. “We’ll have to do this as because the existing transit agreement with India...

GP won’t pay Tk 30 billion: Chairman

DHAKA -Grameenphone could go to the court against the audit findings of the telecom regulator to protect the company’s interest if needed, said its Chairman Sigve Brekke on Sunday. Brekke said GP has already raised the concern with the management...

Investors threaten to continue hunger strike, seeks PM’s intervention

DHAKA-Individual investors on Sunday night threatened to continue their un-to-death hunger strike until the Prime Minister herself assures them of taking steps to stabilise the volatile market. “We want assurance from the Prime Minister directly. If...

EU summit ‘will be decisive’ on eurozone crisis

A European Union summit later this month will agree “decisive” measures to tackle the eurozone debt crisis, the French finance minister has said. The summit would give “clear answers”, said Francois Baroin at the end of talks between...

Dr Yunus talks ‘social business’ in Haiti

PORT-AU-PRINCE, Haiti – Economist Mohammad Yunus was the consummate storyteller, a fount of ideas on how to change Haiti. Visiting from his native Bangladesh, the Nobel peace laureate poured out tale after tale Friday of how his concept of “social...

Stocks surge on investors’ greater participation

DHAKA-Share prices at the country’s two bourses — Dhaka and Chittagong stock exchanges — surged on Thursday as the coordinated efforts of the government and the market regulator helped boost the investors’ confidence. The overall participation...

Dialogue continues on Padma Bridge Project:Goldstein

DHAKA -The World Bank country director, Ellen Goldstein, has said that dialogue is ongoing with the government to remove the stalemate regarding its funding for the much hyped Padma Multipurpose Bridge Project. In an email statement received by UNB on...

New rate Tk 76 for one dollar comes into effect

New increased rate of US dollar at Tk 76 came into effect from Tuesday morning. The Bangladesh Foreign Exchange Trading Association (BAFEDA) on Monday at a meeting re-fixed the US dollar rate raising Tk 1 on the existing rate following the fast rising...

Afghan opium production ‘rises by 61%’ compared with 2010

Opium production in Afghanistan rose by 61% this year compared with 2010, according to a UN report. The increase has been attributed to rising opium prices that have driven farmers to expand cultivation of the illicit opium poppy by 7% in 2011. Last year...

Stocks dip: investors protest, seek PM’s intervention

DHAKA – Stocks at the country’s premier bourse, Dhaka Stock Exchange (DSE), dipped further on Tuesday, registering the second-biggest fall since May 25 this year, sparking street protests by investors. The DSE general index, DGEN came down to...

Economy on higher growth trajectory: Atiur

DHAKA: Despite the recent episode of inflationary pressure from external sources and growth-related stress, there should not be any doubt about the Bangladesh economy being on a higher growth trajectory for a medium term, central bank governor Dr Atiur...

Stocks fall continues on poor participation

DHAKA :Share prices at the country’s premier bourse Dhaka Stock Exchange experienced a sharp fall in the opening session of the week’s trading on Sunday. The turnover of the DSE, however, marked a rise and stood at Tk 324 crore or Tk 3247.751 million,...

Euro crisis spreads and puts the world economy at risk

When finance ministers from the G20 major economies meet next weekend, they could be excused for having a sickening feeling of deja vu. This time it’s Paris, not London, but, just as in May 2009 when Gordon Brown brought the power-brokers of the...

Sarkozy discusses EU debt crisis with IMF’s Lagarde

IMF chief Christine Lagarde has held talks in France with President Nicolas Sarkozy on the eurozone debt crisis. The hour-long meeting was part of a flurry of weekend activity which will also see Mr Sarkozy visit Germany for talks with Chancellor Angela...

US economy adds 103,000 new jobs

The US economy added 103,000 jobs in September, ahead of many economists’ expectations. But the jobless rate was stuck at 9.1%, according to latest data from the Department of Labor. Although the figures were boosted by the return to work of striking...

3rd D-8 ministerial meeting on industry in Dhaka next year

DHAKA – The 3rd D-8 ministerial meeting on industry to be held in Bangladesh next year. The decision was taken unanimously at the concluding session of the three-day long second D-8 ministerial meeting ended today in Istanbul after the ministry...

Wall Street protesters march in New York

Thousands of protesters have marched on New York’s financial district, with rallies also held in other US cities. Powerful unions gave a high-profile boost to the long-running demonstrations, as their members joined the rally in lower Manhattan. Students...

Muhith calls for establishing Global Food Bank

DHAKA : Finance Minister AMA Muhith has called for examining the possibility of creating a Global Food Bank to guard against recurrent food crisis. “Increased support to the Agricultural sector of the LDCs, particularly through ODA and FDI is critically...

Stocks continue to extend losses

DHAKA anic sell kept back Dhaka stocks in the red zone for the third straight day on Tuesday amid high volatility in trading as the investors continued to remain sceptical and unnerved seeing all the market stabilising tonics failing to ease the crisis. DGEN,...