WedJan172018

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Business

‘D-8 trade volume to hit $ 300 billion by 2018’

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DHAKA, APR 15: The trade volume within the D-8 (Developing-8) countries will reach US$ 300 billion by 2018 showing a big jump from the existing US$ 150 billion.
Visiting D-8 Secretary General Dr Seyed Ali-Mohammad Mousavi said this during a meeting with Industries Minister Dilip Barua at his Shilpa Bhaban office on Monday. State Minister for Industries Omor Faruk Chowdhury, additional Industries Secretary M Forhad Uddin and senior officials of the ministry were present.
The D-8 Secretary General said various agreements have been signed to enhance administrative cooperation on duty issues, ease visa process and air service to enhance the trade volume.

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BAIRA hails harsh punishment

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DHAKA, APR 15: The private manpower recruiters welcomed the government’s move to enact a law to award stringent punishment for deceiving money and carrying out fraudulent activities in the name of sending people abroad. “We have no objection if transparency and accountability come in manpower export sector through enacting new law,” said Shahjalal Mazumder, president of Bangladesh Association of International Recruiting Agencies (BAIRA), the main platform of private recruiting agencies.  
He hoped that the new law would check illegal trafficking of people from the country and do not harm real manpower exporters.

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B’desh yet to receive tech details of TAPI gas pipeline project

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News - B’desh yet to receive tech details of TAPI gas pipeline project

Dhaka, Apr 15 (UNB) – Despite its keen interest to join the four-nation Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, Bangladesh is yet to get any technical details of the region’s mega energy scheme.   

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Chittagong Port strike stops unloading work

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CHITTAGONG, April 13: Twenty ships loaded with cargo are lying anchored at the outer anchorage of Chittagong Port. Unloading work is at a standstill because of an indefinite strike by workers demanding a 20 per cent hike in wages. The losses being incurred by the shipping companies run into USD 2-4 lakh per day

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Goods transport sector passing through hard time for strikes

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Goods transport sector is passing through a severe crisis as their vehicles are being vandalised and torched during general strikes for the last few months.
Truck and covered van owners told New Age that their business had already cut by more than 70 per cent and a good number of owners had failed to deposit the instalment of bank loan against their vehicles.

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DSE seeks tax exemption for 5 yrs after demutualisation

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Dhaka, Apr 13: Dhaka Stock Exchange (DSE), the country’s premier bourse, will seek a five-year tax exemption in an effort to make it a profitable and attractive organisation to investors after demutualisation, DSE leaders said here on Saturday. “We’ll seek a five-year tax exemption in the next budget. We’ve a specific proposal on it,” DSE President M Rakibur Rahman told UNB at his office on Saturday.
He said they had a meeting with the Finance Ministry and will meet the Chairman of the National Board of Revenue (NBR) to discuss their budget proposals.

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10 power plants out of operation: load-shedding intensifies

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News - 10 power plants out of operation: load-shedding intensifies

Dhaka, Apr 13 (UNB) – Power consumers have started feeling the pinch of blackout as more than 10 large- and medium-sized power plants now remained out of operation either for maintenance or forced shutdown.
 

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DSE to seek 5-yr tax exemption after demutualisation

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News - DSE to seek 5-yr tax exemption after demutualisation

Dhaka, Apr 13 (UNB) – Dhaka Stock Exchange (DSE), the country’s premier bourse, will seek a five-year tax exemption in an effort to make it a profitable and attractive organisation to investors after demutualisation, DSE leaders said here on Saturday. 

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Bangladesh Factory Fire Victim Calls On Walmart To Pay Compensation

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WASHINGTON -- Sumi Abedin hasn't worked a day since Nov. 24 of last year. That was when her workplace, Tazreen Fashions in Bangladesh, went up in flames, killing at least 112 workers. Abedin, 24, was brave enough to jump from the factory's third floor, ...

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Cargo piles up at Ctg port-Unloading, delivery hampered due to hartal, strike; 12 lakh tonnes of imported goods await delivery

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Containers are stacked at the jetty of Chittagong Port yesterday as they had not been delivered due to back to back hartals. There was just one working day without hartal last week. Photo: Anurup Kanti Das

All is not well in Chittagong Port. Recurrent hartals coupled with an ongoing work abstention by water transport workers have left the delivery of imports in a shambles.

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Businesses losing appetite for credit - Private sector hamstrung by political turbulence

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The private sector credit growth dropped to 13.96 percent year-on-year in February, on the back of declining imports and political unrest.
In February last year, the figure stood at 19.55 percent, according to data from Bangladesh Bank.
Economists and bankers alike blame the recent political turmoil for the decline, as businessmen shy away from making new investments amid a fall in industrial production and trade.
“The trucks have been failing to transport goods and ports cannot function properly,” Atiur Rahman, BB governor, told The Daily Star.
“We are looking for alternatives so that the businessmen can make up for the losses and continue with their trading activities.”

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EIA report on coal-fired power plant near Sundarbans rejected

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Environmentalists rejected an environment impact assessment report on the proposed 1320MW coal-fired power plant adjacent to the world’s largest mangrove forest Sundarban.
India and Bangladesh signed contract to jointly set up the plant.
The environmentalists observed that the EIA report failed to cover most of the important and critical aspects of the environment of Sundarban, its ecology, flora and fauna and also the local people’s livelihood.

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BGMEA urge political leaders to sit & discuss a way out from political unrest

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Dhaka, Apr 11 (UNB) - Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Thursday urged the political leaders to sit for discussing a way out from the recent political unrest.

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BTMA demands tax holiday till 2018

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DHAKA, APR 12: Bangladesh Textile Mills Association (BTMA) has urged the government to continue tax holiday facilities until 2018 for both textile and garment industries that will be established in Dhaka, Gazipur and Narayanganj. The apex body of the country’s textile mills made the appeal at its budget proposal submitted recently to the National Board of Revenue (NBR) also urging the government to withdraw taxes at sources and assessing income tax at the rate of 10 per cent instead of 15 per cent.

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BAIRA denies allegation of attacking BMET

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DHAKA, APR 12: The leaders of Bangladesh Association of International Recruiting Agency (BAIRA) denied the allegation of attacking a government office and intervening in the work of officials. The government officials alleged that the BAIRA leaders on Wednesday stormed into the BMET (Bureau of Manpower Employment and Training) office and intervened in the officials work vandalizing the furniture of the office. All the executive committee members of BAIRA including the president and general secretary, were accused in the case filed with Ramna thana. The case was filed by Abul Kalam Azad, an assistant director of the BMET. The government officials also alleged that the BAIRA leaders beat the employees and snatched the files.  Declining the allegation of storming the government’s office, the BAIRA president Shahjajal Mazumder termed the case against them as false, fabricated and motivated.  “The aim is to foil our on going movement against the government’s move to send workers to Malaysia by-passing the private recruiters,” Mazumder told the Independent on Friday.

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WB likely to finance 4 more projects in current FY

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News - WB likely to finance 4 more projects in current FY

Dhaka, Apr 12 (UNB) - The World Bank assistance to Bangladesh during the July-February period of the current fiscal year (2012-13) witnessed an upward trend compared to the corresponding period last fiscal, and the lending agency is likely to finance four more projects in the current fiscal.

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Formalin still to the fore

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News - Formalin still to the fore

Dhaka, Apr 12 (UNB) – “No market will ever be ‘completely formalin-free’ despite being declared as such,” said Farid Uddin while buying fish from the capital’s Kaptan Bazar – home to a thriving kitchen market that was declared “formalin-free” around a month back.

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