Business Desk :The commerce ministry has reduced the price of palm oil by Tk12 per litre today following a recommendation...
Business Desk :The turnover at the Dhaka Stock Exchange (DSE) fell on Thursday, but the prime index rose slightly although most of the stocks struggled the whole day to get buyers amid thin participation of investors.The turnover, an important indicator of the stockmarket, fell 7.85 per cent to Tk 1,666 crore.The DSEX, the benchmark index of the DSE, edged up 12 points, or 0.19 per cent, to 6,564.The DS30, the index that consists of blue-chip companies, edged down 0.38 per...
Business Desk :Bangladeshi businesses won’t be able to use Indian Rupee for foreign trade as Bangladesh Bank (BB) is yet to enlist Rupee to settle letters of credit (LC).BB spokesperson and executive director Md Serajul Islam said that the central bank is yet to enlist Rupee for foreign trade.He said that BB is reviewing the currency diversification in foreign trade to reduce the sole dependency on US dollar, reports UNB.Before allowing any foreign currency for trading the central bank has...
Economic Reporter :National Board of Revenue (NBR) has collected Tk 87.33 billion of revenue from value added tax (VAT) in August – showing a 20 per cent year-on-year growth.NBR’s collected VAT revenue in August is Tk 5.19 billion more than the target.In this regard, NBR member (VAT) Moinul Khan said that government expenditure has decreased due to cost-cutting measures. Still, due to various initiatives and efforts, more VAT has been collected.Generally, more VAT is collected from government purchases than from...
Business Desk :The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and financial solution app upay recently signed an agreement to disburse stipends through this app.Faruque Hassan, president of the BGMEA, and Rezaul Hossain, managing director of upay, inked the agreement at the BGMEA Complex in Dhaka, a press release said.Under this deal, stipends for the skill development of mid-level officials and workers in the RMG sector will be distributed directly into the upay app.The stipends will be given under the...
Reuters, London :Oil rose on Thursday after sliding 1% in the previous session on the prospect of higher Chinese demand and geopolitical risks.Brent crude futures were up $1.09, or 1.21%, to $90.92 per barrel at 0815 GMT, while U.S. West Texas Intermediate (WTI) crude was up $1.11, or 1.34%, at $84.05,Crude oil demand in China, the world’s largest oil importer, is rebounding, having been dampened by strict COVID-19 restrictions.At least three Chinese state oil refineries and a privately run mega...
Business Desk :M Mostafiduzzaman has joined Uttara Finance & Investments Limited (UFIL) as Deputy Managing Director recently. Prior, he was...
Business Desk :Leading power, energy, and engineering company Energypac Power Generation Ltd (EPGL) has recently brought home another laurel as...
Business Desk :The stock market regulator will investigate whether Bay Leasing and Investment has used unfair means while preparing its financial report as the company’s earnings swung significantly in 2021.The non-bank financial institution showed earnings per share of Tk 2.75 in the first nine months of 2021 while it incurred a loss of Tk 99 per share at the end of 2021.The stock investors disappointed by the loss announcement expressed their frustration on the social media, which prompted Bangladesh Securities...