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The duty-free treatment of 98 per cent tariff lines goods will help Bangladesh to further increase its export to China, says the Chinese Embassy in Dhaka on Tuesday. State Councilor and Foreign Minister Wang Yi during his recent visit to Bangladesh, announced that the duty-free treatment of 98 per cent …
Read More »Commodity prices see fresh rise on higher transport cost
The prices of essential commodities witnessed a fresh rise on the kitchen markets in the capital Dhaka on Monday after the government raised fuel oil prices by almost 50 per cent on Friday. Traders said that the price hike of fuel oils affected the prices of commodities as transport costs …
Read More »Bangladesh Bank asks six banks to remove treasury heads amid dollar crisis
The Bangladesh Bank has asked six banks to remove the heads of their treasury departments amid allegation of dollar price manipulation. The central bank sent letters to the six banks in this regard on Monday. The banks are Standard Chartered Bank, BRAC Bank, Dutch-Bangla Bank, City Bank, Southeast Bank, and …
Read More »Fuel price hike pulls down stocks, turnover
The domestic stock market yesterday suffered declines in share value and turnover as investors fear that the recent hike in fuel prices will have a negative impact on listed companies. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), plunged by 45 points, or 0.71 per cent, to …
Read More »Taka falls further
The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 95 on the interbank platform yesterday. The exchange rate was Tk 94.70 per dollar on Sunday. With yesterday’s decline, the local currency has depreciated by 12.02 per cent in the platform in the last one year. The …
Read More »Pacific Jeans to set up solar plants in all units by 2025
The Chattogram based Pacific Jeans Group is planning to set up rooftop solar power plants in all 10 of its manufacturing units by 2025 in a bid to get at least 20 per cent of the group’s energy requirement from renewable sources. The group is going to invest $10 million …
Read More »BD company to invest $5.7m in Ishwardi EPZ
M/s. Lynpers Chemical Industries Ltd., a Bangladeshi company, is going to set up a Textile Chemical industry in Ishwardi Export Processing Zone (IEPZ). They will invest $ 5.7 million to produce 9 million kg of textile auxiliary chemical like green acid, wetting and detergent, green soda, cotton levelling, polyester levelling, …
Read More »Slow response for trade agreements with Bangladesh
A much-needed move to sign free trade agreements (FTAs) and preferential trade agreements (PTAs) with potential countries and economic blocs is not moving as desired by Bangladesh, mainly due to lack of responses. Although the government had taken initiatives to sign such deals to boost bilateral trade with other countries, …
Read More »Officials question big techs’ VAT returns due to lack of offices
Officials were likely to face difficulties in cross-checking financial details furnished in the value added tax (VAT) returns filed by the global technology giants as the companies did not have local offices in Bangladesh. The main obstacle that the officials would face is to communicate with the representatives of the …
Read More »RMG sector may face fresh blow
The readymade garment (RMG) and its associated industries, including accessories makers, are set to face a fresh blow due to the latest price hike of fuel oils. The hike came at a time when the country’s largest foreign currency earning sector started receiving lower work orders and opened the fiscal …
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