Dhaka urges Colombo to sign FTA quickly Star Business Report Bangladesh has urged Sri Lanka to sign the free trade agreement and the bilateral coastal shipping deal quickly to enhance trade between the two countries. Planning Minister AHM Mustafa Kamal made the call yesterday during a meeting with Sri Lankan Prime Minister Ranil Wickremesinghe in […]
Fresh congestion slows Ctg port Dwaipayan Barua Chittagong Port has been facing container congestion for a week, the second this month, mainly because of slow delivery of import containers and transportation of containers to private inland container depots. Import-laden containers lying in the port yards totalled 44,473 TEUs (twenty-foot equivalent units) till yesterday against the […]
Steelmakers flexing muscles Large projects, housing sector boost demand Sajjadur Rahman and Jagaran Chakma Steelmakers are investing thousands of crores of taka either to expand existing capacity or set up new units as consumption is on the rise. Per capital steel consumption in Bangladesh has grown more than 54 percent to 37kg in the last eight years […]
Nitol-Niloy to start assembling Tata pickups this month Jagaran Chakma A growing demand for commercial vehicles has encouraged Nitol-Niloy Group to start assembling Tata pickup trucks in Bangladesh from this month. “Now we will assemble the pickup, but we have a target to manufacture at least 25 percent of the components locally by 2020,” […]
AIIB to bring $270m for water supply project Star Business Report The Asian Infrastructure Investment Bank (AIIB) plans to bring $270 million to Bangladesh for a municipal water supply and sanitation project. The project is expected to be approved at a board meeting in December this year, said Laurel Ostfield, head of communications and development […]
NBR to narrow scope of tax evasion Star Business Report Tax authorities plan to audit foreign companies’ transactions with their associated entities abroad from next year in order to reduce the scope for illicit fund transfer and tax evasion, said an official yesterday. “We will start auditing cases that will be deemed high risk in […]
Runner allowed to make 500cc bikes Sohel Parvez The government has given the go-ahead to Runner Automobiles to import raw materials and components to make motorcycles of over 165cc to 500cc, widening export opportunities for the local company. “We are very happy. The move will help us expand our export market and meet the growing […]
Ease trade rules to attract more US investment Outgoing envoy suggests Star Business Report Bangladesh needs to reform its trade regulations for ease of doing business to attract more US investment, outgoing US ambassador Marcia Bernicat said yesterday. “American businessmen and women have a lot of different choices. You want to bring them here. Once […]
Businesses have to use electronic fiscal devices from Nov 1 Star Business Report Some 13 types of businesses, including hotels, restaurants and supermarkets, will have to begin using electronic fiscal devices from November 1 this year to record transactions and issue sales receipts to customers, said the revenue authority. Businesses operating in district towns will […]
Govt yet to decide on joining Belt and Road Tofail says Star Business Report Bangladesh has no plan to join the much-talked about Chinese flagship Belt and Road Initiative, which has been taken to rediscover the ancient Silk Road for trade across Asia and the Europe, Commerce Minister Tofail Ahmed said on Sunday. The minister […]