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New deputy
CEO of
Star Business Desk
IDCOL
SM Formanul Islam has recently been appointed as the deputy chief executive officer of Infrastructure Development Company Ltd (IDCOL), the company
said in a statement yesterday.
Islam was the director for legal affairs and financial relations of IDCOL prior to the appointment. He joined the company at 2001, according to the statement.
He also worked with PricewaterhouseCoopers
Easy steps to pay tax
Minister tells taxpayers in Chittagong
Staff Correspondent, ctg
The government has taken a series of steps to drive out fears about the income tax process, Primary and Mass Education Minister Afsarul Ameen said yesterday.
A seven-day Income Tax Fair organised by the Income Tax Division began in Chittagong yesterday at MA Aziz Stadium Gymnasium.
Inaugurating the fair, Ameen said it aims to clear confusions about the process of paying taxes.
Income tax officials said there are 12 booths in the fair to provide services, including easy transactions through Sonali and Janata banks, receipt of new and old returns and providing tax identification numbers to new payers.
The fair will remain open from 10am to 6pm everyday.
Later, employees of Youngone Group of Chittagong Export Processing Zone handed over the taxes against their salaries amounting to Tk 1.14 crore to the minister.
A similar tax fair began at the BIAM Foundation Auditorium in Bogra yesterday, our correspondent from Bogra reports.
Top five firms that move market
FROM PAGE Bl
"It doesn't send any bad signal to the market, said a DSE official. “It only shows the trends of the big companies' price movement," the official said, asking not to be named.
Listing of large corporate bodies such as Grameenphone and Lafarge Surma Cement always has a positive impact on the stockmarket, he said. “It will encourage other big and multinational companies to be listed," he added.
Akter Hossain Sannamat, a market analyst and managing director of Union Capital, said companies with higher capital base can put an impact on the index movement. “If the share prices of the high-cap companies rise or decline significantly, the index will also go up or down drastically," he said.
He, however, said the index movement does not reflect the true picture of the market, as it can go up or down due to the price movement of the high-cap companies.
“The index movement is only an indicator for the market; it's not any deciding factor,” he said.
“Many retail investors follow the index movement to make an investment decision. But, they should follow the company fundamentals, instead of index movement, to take such decisions,” Sannamat added.
sarwar@thedailystar.net
ACC sues 3 Rupa Ii Bank officials, 2 others for swindling Tk 15cr
FROM PAGE Bl
Earlier Mohammad Ali was posted in the bank's Dilkusha branch as an assistant general manager.
The two other accused are Abu Burhan Siddique Chowdhury and AHM Bahauddin, chairman and managing director of Everest Holdings and Technologies Ltd, a real estate company.
Jahangir Alam, deputy director of the anti-graft body, filed the case with Moti jheel Police Station.
According to the case statement, the three officials of the bank in collusion with the realtor's chairman and MD swindled the amount, submitting fake documents between August 16, 2010 and January 1, 2011 from the bank's Dilkusha branch in the capital.
The statement also said the chairman and MD submitted a fake certificate of 'no liability' allegedly issued by a sub-registry office of Dhaka Sadar to the bank's Dilkusha branch, seeking a loan of Tk 25 crore onjune6,2010.
Then the accused bank officials, without verifying