Business

UK firm seeks BB intervention to stop money laundering

  

Pns: Lancaster Exports Ltd, a British firm, has written to the Bangladesh Bank (BB) seeking the latter’s intervention to stop release of $ 1.1 million to ‘Forseti Inc.’, another foreign company, by a local bank of Bangladesh. Citing a verdict of a Greek court, Lancaster in a letter to the Anti-Money Laundering Department of central bank, said the release of money to Forseti would be tantamount to money laundering as the court found the company as fraudulent.The letter undersigned...

Cabinet body clears 1 lakh tonne rice import from India

  

Pns: The Cabinet Committee on Purchase has approved a proposal of the food ministry to import of one lakh metric tonne of boiled rice from India at a cost of Tk 377.65 crore. The approval was given at the yesterday meeting of the committee held at the secretariat with industries minister Amir Hossain Amu in the chair.At present, there are a total of 4.85 tonne of foodgrains-rice 3.82 tonnes and wheat 1.03 tonnes-are in buffer godowns of the government.After the meeting,...

PayPal to start operation on Thursday

  

Pns: PayPal, a global online payment system, will start its service in Bangladesh on Thursday, paving the way for hassle-free electronic money transfer and increasing access to foreign consumers as well as easing the collection of money for the freelancers of the country. Sajeeb Wazed Joy, information and communication technology (ICT) adviser to the Prime Minister Sheikh Hasina, will inaugurate the international gateway for online payment at a function at the Bangabandhu...

Infozillion BD Teletech awarded licence to launch MNP service

  

Pns: Infozillion BD Teletech Consortium Ltd has been awarded the licence for launching Mobile Number Portability (MNP) service in the country. Prime Minister Sheikh Hasina who is also the minster for Posts, Telecommunations and ICT Ministry, has approved the Bangladesh Telecommunications Regulatory Commission (BTRC) proposal on awarding Infozillion BD Teletech Consortium Ltd with the licence for MNP.Posts and Telecommunications division forwarded the name the firm to the Prime...

Tk 2,573.40cr project cleared to modernise telecom system

  

Pns: The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved the 'Modernization of Telecommunication Network for Digital Connectivity' project involving Tk 2,573.40 crore to build reliable and modern telecommunication facilities in the country. The approval came from an Ecnec meeting held at the NEC conference room with its Chairperson and Prime Minister Sheikh Hasina in the chair.Briefing reporters after the meeting, Planning Minister AHM Mustafa...

NBR kicks off drive today against tax-dodging foreign workers

  

Pns: The National Board of Revenue (NBR) is set to start drive in various business entities to detect foreign workers engaged in jobs here but not paying taxes, reports UNB. “A taskforce team will inspect some selected business entities in search of foreign nationals who are doing jobs in Bangladesh but don’t bother to pay income tax,” a senior official at the NBR told the news agency.He said if the taskforce team finds any violation of relevant law then they will be penalised...

BTRC gets two new commissioners

  

Pns: The government on Monday appointed two new commissioners on a three-year term for separate divisions of Bangladesh Telecommunication Regulatory Commission (BTRC).PNS/Tamanna Khan

What’s at stake for business in Iran’s nuclear deal

  

Pns: If the Iran nuclear deal fails then all the countries involved have a lot to lose—and not just for political and security reasons. US President Donald Trump on Friday announced that he will not certify to Congress that Iran is complying with the deal, which could pave the way for future sanctions that could have a big impact on countries and companies which have re-engaged with Tehran since the 2015 deal.The nuclear agreement is designed to prevent Iran developing a...

Canada, Mexico stick to NAFTA guns despite Trump threats

  

Pns: The leaders of Canada and Mexico stuck to their upbeat view on the future of the North American Free Trade Agreement on Thursday, despite US President Donald Trump’s threats to axe it. Visiting Mexico on the heels of a tense trip to Washington, Canadian Prime Minister Justin Trudeau downplayed Trump’s attacks on NAFTA as part and parcel of the negotiations on updating the 23-year-old accord. “We will not be walking away from the table based on proposals put forward,” he said when asked...

Uber launches appeal against loss of London licence

  

Pns: Uber launched its appeal on Friday morning against Transport for London’s decision not to renew its private hire licence. The ride-hailing service lodged papers with Westminster magistrates court, starting an appeal process that will allow it to continue operating in the capital.A hearing is likely to place on 11 December, according to a judicial office spokesman.Uber’s London licence expired on 30 September after TfL ruled it was not a “fit and proper” operator....

Developed by Diligent InfoTech