Current News

Bangladesh Telecommunication Regulatory Commission (BTRC) recently cancelled the licences of 14 internet service providers (ISPs) after they failed to renew their licences within the specified time. The telecom regulator directed the ISPs to surrender their licences to the commission within 10 days, according to the BTRC documents. The ISPs are …

The export of paper and paper products from Bangladesh rose 85 percent year-on-year in the first two months of fiscal 2023-24 as the country is grabbing a bigger share of the global market in face of reduced competition. Export earnings from the sector amounted to $39.79 million in the July-August …

The jewellery industry in Bangladesh has apparently remained largely dependent on unauthorised channels for sourcing gold although there is no direct government bar on importing the precious metal. Industry insiders said the taxes on legally importing gold were high, which was the main reason companies felt more comfortable sourcing gold …

The import of woven fabrics declined by 25.97 percent in the first seven months of this calendar year, compared to the same period last year, as garment makers have brought down their reliance on imported products because of an increase in local production. Another reason is that international clothing retailers …

The recently passed Income Tax Bill 2023 on Sunday, includes various changes for individuals, businesses, and corporations. Tax returns have been simplified for everyone. Currently, 29 different types of documentation must be submitted when filing a company’s tax return. It is being reduced to 12. Apart from individuals, all other …

The refiners on Monday requested the government to hike retail prices of packaged sugar by 20% to Tk150 a kilogram, due to high import costs amid rise in its international rates and higher cost for US dollar. They want to sell sugar at this rate to the consumers from June …

Interest caps on banks’ lending will be lifted from July as Bangladesh Bank on Monday issued guidelines. However, the new lending-rate mechanism is based on benchmark reference rate effective from next month. Under the new lending regime, the central bank will fix a reference rate based on the moving average …

Bangladesh Bank Governor Abdur Rouf Talukder considered Moody’s recent downgrade on some local banks as a geopolitical move rather than economic indicator. The central bank governor was responding to a question during the launch of the half-yearly monetary policy statement (MPS) starting next month. He said the international credit rating …

The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. FE “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: …

The National Board of Revenue has extended the tax exemption facility till 2036 to the private sector power generation companies which will go into commercial operation between June 30, 2024 and June 30, 2025. The income tax wing of the revenue board on Tuesday issued a gazette notification in this …