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Appollo Ispat Complex updated to Category ‘A’

Appollo Ispat Complex Limited has been upgraded to Category ‘A’ from Category ‘N’. The transaction of shares of the company, the manufacturer of Rani Brand C.I. sheet, has started as Category A script from Thursday. Appollo Ispat Complex Ltd. LogoThe company offered 15 percent bonus dividend for its shareholders for the year ended on June 2014. The company has upgraded to Category A for offering 15 percent dividend. The dividend has been added as BO (Beneficiary Owners) from January 1 last. ...

Dutch King lauds BD’s disaster handling capacity    

The King of the Kingdom of the Netherlands Willem Alexander has highly appreciated Bangladesh's capacity in dealing with natural disaster, especially cyclone. The King said the achievement and success in handling natural disaster are role model for the entire world. bd-dutchHe made the remark while talking to Bangladesh Ambassador to the Netherlands, Sheikh Mohammed Belal at a reception marking the New Year 2015 held at the King's Palace in Amsterdam on Wednesday, according to a message received here on Thursday. The King also appreciated the s...

6.2pc GDP growth projected in current FY  

The World Bank has projected that Bangladesh will achieve a 6.2 percent GDP growth in the current fiscal year (2014-’15) against the government’s target of 7.3 percent. Besides, the World Bank says, Bangladesh growth is likely to rise to 6.5 percent in 2015-’16 and 7 percent in 2016-’17 fiscal years. The global lender made the projection in the World Bank Group’s Global Economic Prospects (GEP) report released globally on Wednesday. wbThe World Bank report also projects that the economic growth in the South Asia region will hit 6.8 percent by 2017 fr...

No business, but burden of loans exists  

Commodity transportation is facing serious problem due to hartal and blockade. As a result, it is not being possible to transport commodities despite huge demand. The business transaction is also being hampered. Businessmen are now worried over how they will pay the loan installments. Talking to this correspondent on Tuesday evening the proprietor of M/S Sarker Traders of Nilphamari Md Abdul Wahed said the Transport (truck) movement has been stopped for some days as the drivers of those vehicles are not interested to ply vehicles. hartalPolice...

e-LC in the offing to check tax dodging  

The National Board of Revenue and Bangladesh Bank are going to introduce electronic letters of credit to prevent use of fake LCs as well as to facilitate importers and exporters in smooth international trade, officials concerned said. They said the system would check tax dodging through submitting fake LCs to the customs offices. The online or e-LC system will be introduced under the National Single Window in which all activities related to import and export to be conducted online instead of existing manual system, they said. nbr 222Before...

IMF set to stop ECF for Bangladesh  

The IMF is set to quit the ECF programme soon as the government has failed to commit implementation of roadmap for the new value-added tax act, suggesting a bitter relation between the government and the lending agency. The pre-mature ending of the reform programme that was undertaken about three years back to bring about regulatory changes in the broad economic matters would deprive the country of nearly $300 million, a senior finance ministry official said. IMFThe disbursement of the sixth instalment of the $1 billion ECF fund was scheduled in last...
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