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The commerce ministry has formed two separate committees to start negotiations with India over signing a proposed Comprehensive Economic Partnership Agreement (Cepa) to boost bilateral trade and investment in the post-LDC period. The negotiation committee is headed by Additional Secretary to the commerce ministry Noor Mahbubul Haque while the advisory …
Read More »Private wheat imports slump 45%
Wheat imports by the private sector have continued to remain low in Bangladesh than the last fiscal year as businesses are facing persisting difficulties in opening letters of credits owing to the dollar shortage at banks. Businesses brought 14.15 lakh tonnes of wheat between July 1 to March 9 in …
Read More »Jewellers want 10-year tax holiday for gold refinery
Jewellers on Tuesday demanded a ten-year tax holiday for local gold refineries to boost the industry of the precious metal. At a pre-budget press conference, the Bangladesh Jeweller’s Association (Bajus) wanted the government to provide the businesses with a 50% cash incentive for a minimum 20% value addition to promote …
Read More »Experts suggest budget reforms for higher tax revenue
Experts on Tuesday emphasized the need for measures to enhance tax revenue, commence automation of tax collection, generate employment, reduce inflation and ensure policy predictability in the upcoming budget. They also stressed the need for expanding the tax net, revisiting corporate tax, containing tax evasion, and rethinking the formulation of …
Read More »Experts: Proposed amendments to Banking Act insufficient for good governance
The proposed Bank Company (Amendment) Act-2023 still falls short in some crucial ways necessary to establish accountability and good governance in the banking sector, according to experts. The draft of the amended act includes a willful defaulter clause, which economists welcome. Under the clause, such willful defaulters can be subjected …
Read More »SCB hosts iftar and doa mahfil
Shippers’ Council of Bangladesh (SCB) hosted an iftar and doa mahfil on Tuesday at Samson H Chowdhury Center, Dhaka Club. SCB Chairman Md Rezaul Karim presided over the iftar and doa Mehfil, reads a press release. President of Bangladesh Petroleum Tanker Owners Association and Dhaka Club Khandaker Mashiuzzaman (Romel) was …
Read More »Bangladesh bank server collapsed for 6 hours
Bangladesh Bank was ultimately able to restore its server six hours after it had gone down. An executive director of Bangladesh Bank’s Maintenance department verified the incident, however, the official could not explain why it occurred. Due to the server crash, other commercial banks’ card-based transactions, including a few overseas …
Read More »Petrobangla working to end foreign company’s monopoly in pre-paid gas metering system
Petrobangla has initiated a move to bring an end to the existing monopoly of a particular foreign company in its pre-paid gas metering system. “We’ve already received the government’s policy approval to allow battery-run pre-paid gas meter,” Petrobangla Chairman Zanendra Nath Sarker told UNB recently. According to official sources, a …
Read More »WB keeps Bangladesh’s growth forecast unchanged at 5.2pc
The World Bank (WB) has kept its GDP growth forecast for Bangladesh unchanged at 5.2 percent for FY23 citing tighter financial conditions, disruptive import restrictions, and global economic uncertainty. Bangladesh made a rapid recovery from the COVID-19 pandemic supported by prudent macroeconomic policies, but the economy now faces considerable challenges, …
Read More »Asian markets drop as recession talk builds
Growing fears of a US recession weighed on equities Thursday as traders gear up for the release of key jobs data that could determine the Federal Reserve’s next interest rate decision. After a few weeks of gains fuelled by hopes the central bank would soon take its foot off the …
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