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Cabinet okays draft VAT law to increase revenue collection

The cabinet on Monday approved in principle the draft Value Added Tax Bill-2012 to increase revenue collection from businessmen by expanding the area of taxation. Full story

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Transport shortage ups vegetable prices

Prices of different vegetables went up in the city markets by Tk 2 to Tk 5 per kilogram in two days due to supply shortage as very few trucks came to the wholesale kitchen markets on Sunday and Monday. Full story

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Stocks withstand political turmoil in quiet, flat trade

Dhaka stocks on Monday crawled up slightly in a lacklustre trade, barely managing to keep its head above water, due mainly to increased participation of institutional investors. Full story

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Bangladesh trade fair in Myanmar in April

Bangladesh is going to organise a single country trade fair in Myanmar in April to attract Myanmar’s businessmen to import Bangladeshi products and enhance bilateral trade between the two neighboring countries. Full story

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India again makes U-turn on ban on cotton export

India will now ban fresh cotton exports and allow only quantities already registered but not shipped, its trade secretary said on Monday, as the world’s no 2 producer continued to flip-flop with its trade policy, fuelling market uncertainty. Full story

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Japan, Mongolia to launch free trade talks

Japan agreed with Mongolia Monday to launch talks on a bilateral free trade agreement and to provide Ulan Bator with economic aid, officials said. The agreement was reached when Japanese prime minister Yoshihiko Noda... Full story

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Oil prices lower on Chinese demand concerns

Oil prices inched lower in Asian trade on Monday on concerns of slower economic growth in China, the world’s largest energy user, analysts said. New York’s main contract, West Texas Intermediate crude for... Full story

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Swiss central bank faces new currency trade controversy

The Swiss central bank is in the spotlight for the second time in three months over alleged currency trading by a key official during sensitive times for policy over the Swiss franc. Full story

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market Disclosures

Nitol Insurance Co Trading of the shares of the company will be allowed only in the spot market and block/odd lot transactions will also be settled as per spot settlement Full story

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Italy confirms it is in recession

Italy is in recession, final data confirmed on Monday, underscoring the difficulties facing Mario Monti’s technocrat government as it grapples with a shrinking economy dragged down by austerity measures and a debt crisis. Full story

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Greek debt swap could be short-lived reprieve

Greece’s deep recession and unpredictable elections threaten to turn the biggest debt restructuring in history into yet another short-lived reprieve, although the existential threat posed to the eurozone is not what it was. Full story

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India’s coal-to-gas dream takes baby steps

India is at least a decade behind China in embracing technology that could convert its coal reserves into enough gas and oil to surmount chronic power shortages and halve its energy import bill of $110 billion a year. Full story

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India sees return to high growth as factory output surges

India’s economy will soon return to high growth, the government pledged Monday, as official data showed industrial output expanded at its fastest clip in seven months and car sales surged. Full story

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