Current News

Inflation surged to an eight-year high of 7.42 per cent in May, driven by a hike in food costs, underscoring the plight a majority of the population in Bangladesh is currently experiencing, official figures showed yesterday. Last month’s sharp rise in the Consumer Price Index (CPI) was more than one …

Bangladesh Bank yesterday asked banks to continue providing banking services to clients in the flood affected areas of the country through their offices in adjacent places that remain unaffected. Operations of all bank branches and sub-branches located in flood-hit areas, such as Sylhet, Sunamganj, Rangpur, Kurigram and other districts, will …

Russian hostilities in Ukraine are preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe, threatening to worsen shortages, hunger and political instability in developing countries. Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% …

Bangladesh Chamber of Commerce (BCI) has demanded simplification of the taxation system saying that people feel reluctant to pay taxes due to complexities. “The taxation system must be simple and taxpayers-friendly so that people feel encouraged”, said BCI president Anwar-ul-Alam Chowdhury (Parvez) while addressing a press at the BCI Conference …

The realtors have urged the government to continue allowing investment of undisclosed money in real estate to help the sector flourish unhindered. They observed that the proposed national budget for the 2022-23 fiscal year will hold back growth in the housing and construction sector unless the provision of investing undisclosed …

The Bangladesh Financial Intelligence Unit (BFIU) has confiscated Tk 1,294 crore from money launderers since the fiscal year of 2016-17 as per court orders, said the agency yesterday. A total of 46 court cases were involved in the confiscation process. In addition, Tk 1,330 crore was seized since FY16 from …

There is no budgetary measure to protect the limited disposable income of the middle-class which is being depleted due to high food inflation, said Debapriya Bhattacharya, distinguished fellow of the Centre for Policy Dialogue. “Prices of selected products are likely to increase due to tax imposition that would adversely effect …

Burimari Land Port in Lalmonirhat lacks banking facility, causing suffering to people especially those who are travelling to neighbouring countries. Travellers have to go to a bank at Burimari Bazar, 2km off the land port, to pay travel tax. Kartik Chandra Karmakar, who recently went there from the capital’s Tantibazar …

Top business leaders yesterday urged the government to postpone its decision to close stores, shopping malls, markets and kitchen markets after 8:00pm until Eid-ul-Azha since an early closure will deal a blow to their sales. The plea from two separate meetings of the Federation of Bangladesh Chambers of Commerce and …

The Asian Development Bank (ADB) and the government of Bangladesh yesterday signed agreements for a $143 million policy-based loan to improve the volume, efficiency, predictability and security of cross-border trade in Bangladesh. Fatima Yasmin, Secretary, Economic Relations Division, and Edimon Ginting, Country Director, ADB, virtually signed the agreement on behalf …