Regional & International Economy

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 …

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 Bangladesh Bank has decided to launch a taka-rupee debit card in the country in September to allow travellers to make payments through the card at home as well as in India. The card will allow individuals to make local payments as well as settle payments in the Indian rupee …

Economists have praised the move to adopt alternative currencies, such as the Indian Rupee and Chinese Yuan, in foreign projects and bilateral trade to ease the foreign exchange reserve. As of Tuesday, the forex reserve stood at $31.11 billion, with the balance of payment in a tight situation due to …

The International Chamber of Commerce Bangladesh (ICCB) on Monday underscored the need for adopting policies for new economic processes and structures to create a fairer, more equal world and to save the planet. “The world is facing an inequality crisis. Fourteen percent of the global populations living in 46 countries …

Bangladesh’s foreign currency reserve has experienced a slight respite due to the inflow of remittances ahead of Eid-ul-Fitr, with expatriates sending over $1.1 billion during the first 17 days of April. “Till Monday, the remittance inflow topped $1.1 billion,” said Mesbaul Haque, executive director at Bangladesh Bank, speaking to the …

The cost of the Padma Multipurpose Bridge’s construction has increased by Tk 2,412 crore while its completion deadline has been extended by one year till June 2024. The Executive Committee of the National Economic Council (Ecnec) yesterday approved the project’s third revision with Prime Minister Sheikh Hasina in the chair …

Jatri, the preeminent platform for mass mobility in Bangladesh, has successfully raised an oversubscribed Series A investment round led by SBK Tech, a Singapore-based Venture capital fund along with participation from notable global investors, including ALSA, Genting Ventures, DVC, and Doha Tech Angels, among others. In addition, existing investors such …

Safety in large export-oriented garment factories in Bangladesh has improved but global apparel brands and retailers continue to put exploitative economic pressure on the factory owners, according to a global report. FE It also showed that the low-paid workers are the worst sufferers of such practices as factory owners are …