Business

Finance Minister AMA Muhith has hinted that tax at source for readymade garment (RMG) export might be increased in the next budget. At a pre-budget discussion in Dhaka on Friday, he said the government was also considering revising the ‘cash incentives’ provided to export sectors. Last year, the apparel export source tax was slashed by 0.5 percent to help the ...

The number of subscribers to the only state-run mobile-phone operator, Teletalk, has quadrupled since the introduction of its 3G services two and a half years ago. The company attributes the surge to high-quality and high-speed data services. Teletalk said the number of its subscribers was around 5.4 million at April-end against about 1.4 million on Oct 14, 2012, when the ...

AS one of three enterprising brothers who came to the UK from Bangladesh as children and created a wealth of £205 million pounds seafood processing, restaurant and cash and carry empire, it’s no surprise that Iqbal Ahmed has been featured as 466th with his family on Sunday Times’ 2015 Rich List. Iqabal Ahmed’s Seamark Group, a £125 million Manchester Based ...

NRB bank opens its 13th branch in Dilkusha NRB Bank recently opened its 13th branch in Dilkusha Commiercial Area in Dhaka.  Chairman of the Bank, Iqbal Ahmed OBE formally inaugurated the Dilkusha branch.  Among other who were present in inaugurating ceremony included Bank’s Managing Director and CEO Mukhlesur Rahman, Bank’s directors, senior officers and local guests.

The central bank says the rates of interest on bank loans have declined. A media statement of Bangladesh Bank said on Tuesday: “The average interest rate was 12.23 percent in February. It dropped to 11.93 percent at the end of March.” The watchdog said the interest rate spread came under 5 percent because of its close monitoring. “At the end ...

Dhaka Stock Exchange (DSE) has seen a 3.7 percent rise in its broad index defying the slump over the last few weeks.   The capital market last week showed signs of recovery following assurance from Securities and Exchange Commission to aid broker houses and merchant banks in a bid to stabilise the bourses. The first week of the month saw ...

Ramadan is six weeks away and a pre-hand preparation of the self and a spiritual warm up is due in order to be fit enough as well as work hard to attain the great rejuvenation of the annual holy month. As the blessed month await, many others also prepare for fasting months in advance as they set off to shop ...

Everyone has a favourite ‘ curry house’ and Curry is one of Britain’s most loved food. Currently it is a huge industry generating over £4.1 billion for the economy with over 15,000 outlets in the UK. Yet the industry is struggling to survive. Agroup of around 100 Southend curry houses and businesses gathered to discuss the slow death ofthe curry house in Britain.   The event ...

The state minister for foreign affairs has stressed the application of scientific and modern methods in business management to increase profits. M Shahriar Alam was inaugurating a two-day training for the management officials of various businesses in Dhaka. He said modern management methods could generate more profits and employment, thus ensuring greater private sector contribution to Bangladesh’s economy. He also ...

Commercial banks have not brought down lending rates, despite a cut in interests on deposits, says the Bangladesh Bank. “Bangladesh Bank thinks it’s necessary to cut interest rates on loans to create an investment-friendly atmosphere in the country,” reads the minutes of a bankers’ meeting held on Apr 30 at the Bangladesh Bank. It also says that Governor Atiur Rahman ...