National Board of Revenue (NBR) has brought Tk 90cr value-added tax (VAT) evasion allegation against the authorities of Shah Cement Industries. According to the NBR sources, the VAT Audit Intelligence and Investigation Department of the NBR has found the allegation after reviewing the audited financial reports for 2012, 2013 and 2014 of the company. They have evaded the VAT by keeping their information…

The government has banned exports of gold jewellery, medallions and other articles above 22- carat purity in a bid to check round tripping of the precious metal. In a notification, the Directorate General of Foreign Trade (DGFT) has said certain provisions of the foreign trade policy (2015-20) are “amended to allow export of gold jewellery (plain or studded) and articles containing gold of 8…

NEW DELHI: HMD Global, which holds the global rights to market the iconic Nokia brand, today unveiled three smartphones in the Indian market that will compete with the likes of Samsung and Apple.   The Android-based devices will be available from June 16, priced Rs 9,499 onwards. "Nokia is a people's brand and has had a phenomenal legacy. The brand is based on reliability and trust and…

The election to the board of directors of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) for 2017-19 tenure has gotten underway, Saturday morning at the Bangabandhu International Conference Centre (BICC). Voting began at 9:00 am and will continue through to 5:00 pm while the Election Board chairman, Prof Ali Ashraf, will announce the results after counting ends.  Two panels…

Prices of gold have dropped in the local market of Bangladesh following price fall in the international market. Bangladesh Jewellers’ Association on Sunday fixed the prices new prices of gold that showed per bhari (11.664 grams) price dropped by Tk 1,167. The latest prices will be effective from Monday, the Bangladesh Jewellers’ Association said. As per the revised rate, the price of per…

The Supreme Court (SC) on Sunday cancelled a petition asking review of its judgment that upheld a High Court (HC) order for destroying the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) building. The three-member bench led by chief justice Surendra Kumar Sinha dismissed the plea. On November 8 last year, the SC released the full text of its verdict in which the apex court upheld…

The 7th edition of `Denimsandjeans Bangladesh,` an exposition of jeans products, will begin in the city on March 1, aiming to attract global buyers against the backdrop of country`s capacity to supply quality products at lower costs. The two-day expo with the theme `Denim Mashup` will focus the latest trend in denim where embellishments, embroideries, sequins, patches, paint etc. are used in different…

Indian entrepreneurs on Saturday expressed their keen interests in boosting bilateral trade and commerce through joint ventures in Bangladesh. A 15-member delegation of the Bengal Chamber of Commerce and Industry of Kolkata, India expressed the eagerness while exchanging views with the leaders of Chittagong Chamber of Commerce and Industry (CCCI) at Bangabandhu Conference Hall of the World Trade Centre…

NBR orders strict monitoring on business firms paying lower taxThe National Board of Revenue (NBR) has directed its field offices to further increase its intensive monitoring on the business organisations that are lagging behind in paying tax as the second quarter of the current fiscal has gone. "The NBR chairman has given the directives to the field offices to intensify monitoring on the business…

The shares of the Seattle-based luxury retailer Nordstrom, increased to 7 per cent after US President Donald Trump slammed it on Twitter, the media reported. Last week, after the retailer announced that it would not carry Ivanka Trump’s spring collection – characterising the move as a business decision – the Trump administration disputed Nordstrom’s claim that her merchandise…

Qatar Airways launched the world's longest scheduled commercial service with its inaugural flight from Doha to Auckland taking off eight minutes early on Sunday, a company spokeswoman said. Flight QR920 left the Qatari capital at 05:02 (0202 GMT) and is set to land in New Zealand at 07:30 local time on Monday (1830 GMT). The Boeing 777 flight will take 16 hours and 20 minutes, pass over 10 time…

The recall, set to begin on February 20, affects 1,476 imported 2016 Magotan travel series manufactured between Febuary 9, 2016 and May 30, 2016, Xinhua news agency reported on Tuesday. Beijing, Jan 31 :  Volkswagen China will recall 1,993 vehicles in China due to defective body control modules (BCM), according to the country’s top quality watchdog. The recall, set to begin on February…

WASHINGTON: US president Donald Trump is set to sign an order overhauling work visa programmes like H-1B which help Indians find jobs in that country. Simultaneously, his government is working on a law to double the minimum salary of foreign workers. The draft of the executive order to be signed by Trump was leaked and published by some news websites. It says the Trump administration would reverse…