GSMA wants public consultation on spectrum auction guidelines

February 20, 2015

The Groupe Speciale Mobile Association (GSMA), a global association of mobile phone operators, has requested the Bangladesh government to carry out a public consultation of draft guidelines on the upcoming spectrum auction, said a Grameenphone press release on Thursday.
‘Such a process [public consultation] would allow all Read more

4 gas cos `dodged’ Tk 19,594cr in taxes

February 17, 2015

Finds NBR, starts legal process to recover the money
The country’s tax administration has demanded a total of Tk 19,594 crore from four major gas distribution companies, alleging that the companies dodged the amount in value-added tax and supplementary duty from 2009 to 2014. Officials of the National Board of Revenue told New Age that Titas Gas Transmission and Distribution Company, Karnaphuli Gas Transmission and Read more

Belgium set to become 8th billion-dollar export market this FY

February 17, 2015

Belgium is on course to become the new billion-dollar export market for Bangladesh in the current financial year 2014-15 riding on the moderate growth of readymade garments and frozen food products. Exports to Belgium in the first seven months of the FY15 grew by 9.01 per cent to $608.97 million against $558.59 million in the same period of the FY14, according to the statistics of Read more

SoBs asked to give farmers reprieve from certificate cases

February 17, 2015

BB advises to use persuasion in recovering defaulted farm loans
Bangladesh Bank on Monday asked six state-run banks to give farmers relief from certificate cases by rescheduling their defaulted farm loans. The BB asked the banks not to file any fresh certificate case against farmers as the central bank gave importance on recovering the defaulted farm loans through persuasion. The directives came from a meeting between the senior officials Read more

Airtel running WiFi service unlawfully: BTRC

February 17, 2015

Mobile phone operator Airtel is running a WiFi service after expiry of its authorised tenure violating the telecom rules, Bangladesh Telecommunication Regulatory Commission officials told New Age on Monday. Airtel, however, said that the BTRC approval for the WiFi service was given to a third-party — iConnect — and the operator had no regulatory concern in this regard. Read more

NBR seeks enactment of law to impose mobile use surcharge

February 16, 2015

The National Board of Revenue has sent a proposal to the finance ministry for enacting a law for imposing surcharge on mobile phone services including talk time.
The board made the proposal in the past week as the law ministry in late January sent back a draft Statutory Regulatory Order imposing 1 per cent surcharge on Read more

BB to ask state-run banks to trim certificate cases against farmers

February 16, 2015

To advise to find alternative defaulted farm loan recovery window
Bangladesh Bank will ask six state-run banks to take initiatives to decrease the certificate cases against farmers by searching alternative window to recover the defaulted farm loans as the number of unsettled certificate cases has already crossed two lakh. The BB will organise a meeting with the managing directors and chief executive officers of the six state-run banks today at the Read more

Home asks NBR to exempt telcos from import duty

February 16, 2015

TElecom Surveillance Upgrade
Home asks NBR to exempt telcos from import duty
The home ministry has requested the National Board of Revenue to waive any payment of tax on the import of equipment which will be used to upgrade the government’s mobile phone surveillance system, NBR officials told New Age. A letter from the home ministry’s senior secretary Md Mozammel Haque Khan has recently asked NBR chairman Md Nojibur Rahman to ‘personally intervene’ Read more

HSBC issues public apology over tax evasion scandal

February 16, 2015

HSBC published a full-page letter in British newspapers on Sunday to offer its ‘sincerest apologies’ for past practices at its Swiss private bank, which has been accused of helping clients to evade tax. Europe’s biggest bank admitted failings in compliance and controls in its Swiss operation after media reports that said it had helped wealthy customers to conceal millions of dollars Read more

Cybercrime ring steals $1b from banks in 2yrs

February 16, 2015

A multinational gang of cyber criminals has stolen as much as $1 billion from as many as 100 financial institutions around the world in about two years, Russian computer security company Kaspersky Lab said on Saturday. The company said it was working with Interpol, Europol and authorities from different countries to try to uncover more details on what it being called an unprecedented Read more

PDs asked to surrender unspent ADP funds by March

February 16, 2015

The planning ministry on Sunday asked the project directors under the annual development programme to surrender the allocated funds which are likely to remain unspent by the current financial year 2014-15, officials said. The portion of total allocation which may remain unused in the FY15 will have to be surrendered to the planning ministry by March so that the ministry can Read more

Dhaka stocks fall on profit-taking sales after 8-day rise

February 16, 2015

Dhaka stocks fell marginally in volatile trading on Sunday, the first trading session of the week, due to profit-taking share sell-offs by investors after an eight-session rise.
The key index of Dhaka Stock Exchange, DSEX, fell by 0.21 per cent, or 10.54 points, to close at 4,831.17 points on Sunday. The market ended negative amid Read more

Political unrest to put terrible impact on Bangladesh economy

February 16, 2015

Canadian high commissioner says at briefing on Showcase Canada 2015
Canadian high commissioner Benoit Pierre Laramee on Sunday expressed his concern over the ongoing political unrest in Bangladesh and said the situation would put a terrible impact on the country’s economy and business activities. The envoy was speaking at a press conference on the Showcase Canada 2015 jointly organised by the Canada-Bangladesh Chamber of Commerce and Read more

BTRC now goes for appointing third party as telcos delay

February 15, 2015

Mobile Number Protability
BTRC now goes for appointing third party as telcos delay
The country’s telecom regulator has now decided to implement the mobile number portability service through a third-party model as the mobile phone operators have been delaying the process since January 2014. The regulator will now choose a vendor for the job and they will provide the service under agreements with the mobile operators, said officials. The MNP is a service where a subscriber Read more

Growers demand more duty on tea import to end ‘uneven competition’

February 15, 2015

The country’s tea growers have demanded duty increase on import of tea by more than 25 percentage points to protect the local producers from ‘uneven competition’ with the imported one. The Bangladesh Tea Association earlier this month placed its demand to the finance and commerce ministries and the National Board of Revenue seeking an increase of total duty on tea import to Read more

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