News

The government may not extend the special indemnity for legalisation of undisclosed and untaxed money and assets in the upcoming national budget for the fiscal year 2021-2022 amid a spate of criticism and strong opposition from economists, businesses and other stakeholders.

Stocks opened marginally lower on Tuesday as risk-averse investors opted for booking profits on quick-gaining issues.

The Bangladesh Bank on Monday has granted permission to foreign investors, who are contemplating to invest in Bangladesh, to open temporary bank accounts online with a view to making pre-formation inward remittance convenient for the foreigners.

Inward remittance to South Asia rose by about 5.2 per cent to $147 billion in 2020, driven by a surge in flows to Bangladesh and Pakistan, according to the latest Migration and Development Brief of the World Bank Group.

Around 47 readymade garment factories in Dhaka and Chattogram did not pay workers’ April salaries till Tuesday, according to Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Also, around 31 factories did not clear festival bonuses till Tuesday. Workers of 12 factories protested on Tuesday demanding April salaries and Eid-ul-Fitr bonuses, …

Experts recommend focusing on health sector for economic recovery

The ongoing limited banking hours from 10am to 2pm have been extended until May 23 for facilitating the financial transaction of their clients during the lockdown. “Banks will remain open from 10am to 3.30pm while transactions can be made between 10am to 2pm,” said a Bangladesh Bank (BB) circular issued …

The government has implemented only 49 per cent of the development projects in the first 10 months of the current fiscal year (FY), with the health ministry performing poorly again, officials said on Sunday.

No former contractual or permanent officials of a scheduled bank would be allowed to hold directorship in the bank, according to a Bangladesh Bank directive.

The government may reduce the rate of monthly interest on delayed payments of value-added tax in the national budget for the forthcoming fiscal year to lessen the burden of penalty tax on businesses.