Feb 24
Daily News Head Line
Western Marine to spend Tk 500cr on expansion PDF Print E-mail

Western Marine Shipyard, the leading shipbuilder of Bangladesh, has decided to invest Tk 500 crore in expansion.

The board of directors of the company approved the shipbuilder's expansion plan to build special types of vessels, according to a disclosure posted on the Dhaka Stock Exchange website yesterday.

Md Sakhawat Hossain, managing director of the shipbuilder, told The Daily Star that the company would issue rights shares to raise a portion of the funds to be invested.

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164 businesses get CIP cards PDF Print E-mail

The government yesterday honoured 131 exporters with CIP (commercially important person) cards for their extraordinary performance in 2014.

The commerce ministry and the Export Promotion Bureau also awarded CIP cards to 33 business-persons from different business chambers and trade bodies under the ex-officio category.

Commerce Minister Tofail Ahmed handed the CIP cards at a ceremony held at the Pan Pacific Sonargaon Hotel in Dhaka.

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Banglalink's revenue falls 4.57pc in Q3 PDF Print E-mail

Banglalink's revenue in the third quarter of the year declined 4.57 percent to Tk 1,170 crore -- the lowest in nine quarters -- due to stiff competition and the growing tendency among subscribers to use multiple connections.

But it was not disclosed if the operator made any profit during the quarter in the financial report released by its parent company Veon on Thursday.

Banglalink's data revenue rose 28 percent to Tk 170 crore in the third quarter of the year on the back of acceleration of active data customer growth of 17.1 percent year-on-year.

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Exports spring back PDF Print E-mail

Exports bounced back in the month of October, fetching $2.84 billion on the back of higher shipments of apparel products.

“Yes, garment export is rebounding after a slowdown over the last few months,” said Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association.

Garment shipments, which typically fetch 82 percent of the export earnings, brought home $2.29 billion last month, up 41.36 percent from the previous month and 6.02 percent from a year earlier.

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Exporters seek long-term tax, energy policies PDF Print E-mail

Exporters yesterday demanded long-term and stable tax and energy polices such that they can make their future investment plans accordingly.

“We need a long-term roadmap from the government on taxes and energy prices and supply,” said Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association.

Every year before the budget, the National Board of Revenue increases the source tax on export receipts only to bring it down later following requests from businessmen or under political pressure, he said.

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