Finance News: Latest Financial News, Finance News today in Bangladesh

Shippers hike freight rates to compensate for losses

Jasim Uddin Haroon Shippers have started charging higher freight rates to compensate for heavy losses being incurred by them in carrying cargoes to and from Bangladesh, sources familiar with external trade said Friday.The shipping companies have increased at least 100 dollars for carrying a 20-foot container loaded with import items,...

BB hikes key rates to fight inflation

Bangladesh Bank (BB) raised its key interest rates by 50 basis points with effect from tomorrow (Sunday), its fifth hike since March, as it battles to curb persistently high inflation, reports Reuters. The central bank said it was lifting the repo rate, which it uses to inject money into the...

ERL expansion plan in limbo

Nizam AhmedThe authorities concerned should immediately go for quick expansion of the country's lone oil refinery in order to help rein in the swelling petroleum import bill, officials and experts said on Friday.The relevant authorities have been delaying an approval for expansion of the state-owned Eastern Refinery Limited (ERL), a...

Biman, GMG owe Tk 740m in unpaid travel tax to NBR

Doulot Akter MalaBangladesh Biman and GMG Airlines owe a total of Tk 740 million to the National Board of Revenue (NBR). The money was collected as travel tax from passengers to deposit to the public exchequer, revenue board officials said.Of the amount, Tk 560 million travel tax is stuck up...

Destiny-2000 under scrutiny

FE ReportThe commerce and home ministries are simultaneously going to take stringent actions against alleged 'fraud and illegal activities' of Destiny-2000 Ltd, a multi-level marketing (MLM) company working in the country for over a decade, official sources have said.The order for official action by the government follows a recent directive...

Delhi for giving Dhaka MFN status in trade: Chidambaram

NEW DELHI, Jan 6 (Agencies): Indian Home Minister P Chidambaram today said his country wants to accord Bangladesh the most favoured nation (MFN) status in trade with almost tariff-free imports from the neighbour. "Joining hands together, so much business can be created on both sides of the border. I think...

Fire at Savar drug factory

SAVAR, Jan 6: A fire broke out at a drug factory in Kathgora area here Friday morning. Fire Service sources said the fire originated from electric short circuit in the Guardian Help drug factory at about 10am and burned down some machinery and raw materials. Factory management claimed that the...

Osmani Airport refuelling to be modernised

The government has taken up a project to develop modern refuelling facility at Osmani Airport in Sylhet to attract foreign airlines. "The state-owned Padma Oil Company will build the facilities at the Osmani Airport and they have already started necessary works," an official of the Planning Ministry said. The refuelling...