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The National Board of Revenue (NBR) has extended reduced tariff benefit for importing raw sugar until May 15 to enable consumers to buy the sweetening agent during the coming Ramadan month and Eid- ul-Fitr festival. Refiners will be able import raw sugar by paying 20 per cent regulatory duty (RD) …
Read More »Cut supply chain costs to keep essentials affordable
Any fuel price hike raises the cost of everyday necessities and agricultural products and affects both food and non-food inflation since it is linked with every part of the value chain. “It also increases transport cost as well as the production and harvesting cost, hurting farmers,” said Rizwan Rahman, president …
Read More »Focus on high-value apparel export
ReportGarment exporters should focus on high-value apparel items to bolster the industry’s export growth, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), yesterday “The prices of raw materials are constantly rising. So, in order to continue the industry’s growth, exporters must now …
Read More »NEC approves Tk 2,07,550 crore revised ADP
The National Economic Council (NEC) on Wednesday approved Tk 2,07,550 crore revised Annual Development Programme (RADP) for the current fiscal year, downsizing the original ADP size of Tk 2,25,324 crore. The approval came at a meeting of the NEC presided over by NEC Chairperson and Prime Minister Sheikh Hasina. She …
Read More »Brent oil exceeds $111 per barrel for first time since July 2014
The price for May 2022 futures contracts for Brent oil increased 5.83% on London’s ICE, to $111.09 per barrel as of 05:46 Moscow time on Wednesday. As of 05:52 Moscow time, the growth slowed down to 5.77%, to $111.03 per barrel. The last time Brent crude price exceeded $111 per …
Read More »Edible oil, onions, beef, fish become dearer
The prices of edible oil rose further and those of onions, beef and fish increased on the kitchen markets in the capital, Dhaka, over the week ending Friday. Retailers blamed the oil refiners and wholesale traders for the rise in the prices of edible oil. They also said that the …
Read More »Realtors, related businesses demand cut in duty on raw material import
Realtors and related backward linkage businesses have proposed that the government should reduce duty on import of raw materials to lower the construction product prices on the local market. At a pre-budget discussion with the National Board of Revenue in the capital, Dhaka, on March 2, they also sought several …
Read More »Suspend transactions with Russian banks
Global payments messaging network SWIFT has asked Bangladesh’s banks to suspend transactions with seven Russian lenders since they are facing sanctions from the United States and the European Union over Moscow’s invasion of Ukraine. The Bangladesh Bank yesterday also asked banks to remain cautious in their dealing with their Russian …
Read More »Banking on floating market to trade farm products
The Boithakata floating market on the Belua river in Pirojpur has transformed into a major centre for wholesalers as many people directly depend on the century-old market as their primary means of trade. Considered the biggest floating market in the southern part of the country, it has connected Nazirpur and …
Read More »Govt to seek removal of anti-dumping duty on jute
Bangladesh will again urge India to withdraw the anti-dumping duty (ADD) on locally produced jute and jute goods during a commerce secretary-level meeting between Dhaka and New Delhi today. The export of jute and jute goods has been performing poorly over the past few years since the Indian government imposed …
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