Sep 19
Daily News Head Line
9-digit BINs a must for businesses from Jan PDF Print E-mail

Firms have to re-register to get electronically generated 9-digit business identification numbers by December 31 this year, the date when the validity of the existing 11-digit BINs expires, the NBR said.

And firms which have already got 9-digit BINs will continue using the numbers, the National Board of Revenue said in a notice yesterday.

On March 23 this year, the 9-digit BIN was introduced, as part of an effort to implement the VAT and Supplementary Duty Act 2012.

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Garment shipments to Japan decline PDF Print E-mail

Apparel exports to Japan, Bangladesh's most promising export destination in Asia, dipped 3.88 percent in fiscal 2016-17, which exporters blame mainly on the terrorist attack in Gulshan last year that killed seven Japanese nationals.

Exports of garment products to the far-eastern nation -- whose apparel market is worth about $40 billion a year -- raked in $744.47 million last fiscal year, according to data from the Export Promotion Bureau.

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Growth momentum to slow without policy upgrades PDF Print E-mail

Maintaining the past growth performance will become increasingly challenging for Bangladesh without a significant rise in public and private investment, said a top official of the International Monetary Fund.

“Yes, the fast growth of the past could be sustained, but it will not happen automatically,” said Brian Aitken, the division chief of the Asia Pacific department of the IMF.

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Apparel exports to EU sluggish PDF Print E-mail

Bangladesh's exports of apparel items to the European Union remained sluggish in fiscal 2016-17 mainly due to Brexit, national elections in major European countries, depreciation of the euro against the dollar, prolonged labour unrest at home and poor port services.

Exports to the EU grew only 3.49 percent year-on-year to $17.75 billion in fiscal 2016-17, while the growth was 11.66 percent in the year before, according to Bangladesh Export Promotion Bureau (EPB) data.

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Daily transactions reach Tk 1,000cr PDF Print E-mail

Mobile transactions reached Tk 30,008 crore for the first time in June, according to Bangladesh Bank.

During Eid celebrations in June, transactions through mobile reached Tk 1,000.28 crore a day on an average, up by 18.48 percent from the previous month.

Mobile financial service providers say people are becoming more comfortable with electronic transactions.

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