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The Financial Express

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Ten leather cos may take part in World Expo 2020

Ten leather cos may take part in World Expo 2020

FE REPORT 2020-06-22 10:29:10

Ten leather-sector companies registered with Bangladesh Small and Cottage Industries Corporation are expected to participate in World Expo 2020 to be held in Dubai on October 20, officials said. The...

Venture Capital Assoc urges policy support to save startups

Venture Capital Assoc urges policy support to save startups

FE REPORT 2020-06-22 10:04:31

                      Venture Capital and Private Equity Association of Bangladesh (VCPEAB) on Sunday sought incentives and policy support for s...

Customs goes tough against tax evasion in Benapole port

Customs goes tough against tax evasion in Benapole port

OUR CORRESPONDENT 2020-06-22 09:54:28

The Benapole customs authorities have launched a crackdown on tax evasion in Benapole customs house and port. The authorities have also intensified its efforts to increase import and export between t...

BTRC imposes restrictions on GP under SMP rules

BTRC imposes restrictions on GP under SMP rules

ISMAIL HOSSAIN 2020-06-22 09:52:04

The Bangladesh Telecom Regulatory Commission (BTRC) has finally imposed two restrictions on Grameenphone (GP) under the Significant Market Power (SMP) guidelines, aiming to create a level playing grou...

Waiver for 100pc export-oriented industrial units

Waiver for 100pc export-oriented industrial units

DOULOT AKTER MALA 2020-06-22 09:30:40

Export-oriented industries are set to enjoy a relief from furnishing declarations to the VAT authority on usage of raw materials for manufacturing the finished products. However, only the 100 per cen...

National Life Insurance CEO dies

National Life Insurance CEO dies

-- 2020-06-21 21:47:05

Jamal M A Naser, chief executive officer of National Life Insurance Company Ltd (NLIC), has died of COVID-19. He breathed his last at United Hospital Ltd in the capital on Sunday, according to media...

Govt allows ride-sharing services except motorbikes

Govt allows ride-sharing services except motorbikes

FE Online Report 2020-06-21 19:35:58

The Bangladesh Road Transport Authority (BRTA) has allowed the country’s ride-sharing companies to resume their services with only 255 enlisted vehicles. The regulatory body, however, did not g...

Biman resumes operations on Dhaka-London route

Biman resumes operations on Dhaka-London route

FE Online Report 2020-06-21 19:31:35

Biman Bangladesh Airlines on Sunday resumed scheduled international flight operations on Dhaka-London-Dhaka route after almost three months due to the coronavirus pandemic. A release issued by Biman...

BB slashes CRR to 1.5pc for NBFIs

BB slashes CRR to 1.5pc for NBFIs

FE Online Report 2020-06-21 18:21:03

The central bank has slashed cash reserve ratio (CRR) by 100 basis points to 1.5 per cent from the existing level of 2.5 per cent for non-banking financial institutions (NBFIs). Under the new rules,...

UK tells telcos to stockpile Huawei gear in face of US sanctions

UK tells telcos to stockpile Huawei gear in face of US sanctions

REUTERS 2020-06-21 12:05:09

British security officials have told UK telecom operators to ensure they have adequate stockpiles of Huawei equipment due to fears that new US sanctions will disrupt the Chinese firm’s ability t...

Huawei to receive planning permission to build 400-million-pound facility in UK

Huawei to receive planning permission to build 400-million-pound facility in UK

REUTERS 2020-06-21 11:44:29

Chinese telecoms equipment maker Huawei Technologies Co Ltd is expected to receive planning permission this week to build a 400-million-pound ($494.24-million) research and development centre in Brita...

Exploration of deep-sea block: Petrobangla seeks to scrap deal with Korean firm

Exploration of deep-sea block: Petrobangla seeks to scrap deal with Korean firm

M AZIZUR RAHMAN 2020-06-21 09:49:43

South Korean oil and gas exploration firm Posco International might lose its contract for the maiden deep sea exploration job in Bangladesh due to its 'failure' to meet the contractual obligation. Th...

Doctoring co data:  VAT intel seeks banks' co-op

Doctoring co data: VAT intel seeks banks' co-op

DOULOT AKTER MALA 2020-06-21 09:38:28

Banks may have to verify inconsistencies in the information businesses will provide in VAT returns and financial reports before approving a loan application. The lenders may also have to notify the...

India's pursuit of global investors hits turbulence

India's pursuit of global investors hits turbulence

REUTERS 2020-06-20 15:43:43

India’s ambition to attract more foreign money into its financial markets is being buffeted again, having only just started to make progress after years of talk but very little action. Deadly c...

KGDCL takes up new project to set up gas line at Mirerswari

KGDCL takes up new project to set up gas line at Mirerswari

NAZIMUDDIN SHYAMOL 2020-06-20 10:35:36

Karnaphuli Gas Distribution Company Limited (KGDCL) has taken up a new project worth Tk 2.13 billion (213 crore) to set up new gas lines at Sitakunda and Mirerswari for the industrial zones in Chattog...

Move to set up Eid cattle markets in city

Move to set up Eid cattle markets in city

FE REPORT 2020-06-20 10:25:05

The two city corporations will set up 24 makeshift cattle markets in Dhaka city ahead of the upcoming Eid-ul-Azha. The Dhaka South City Corporation (DSCC) and Dhaka North City Corporation (DNCC) have...

Imports through Benapole resume after three months

Imports through Benapole resume after three months

-- 2020-06-19 21:45:26

Import activities of perishable goods through Benapole Land Port resumed on Thursday night after three months. “Altogether 40 goods laden trucks entered through the port on Thursday night from...

BD gives Emirates greenlight to resume flights to Dhaka

BD gives Emirates greenlight to resume flights to Dhaka

-- 2020-06-19 21:30:10

Bangladesh has resumed air connectivity with the United Arab Emirates after the civil aviation authority gave Emirates Airlines permission to operate flights to and from the country, reports bdnews24....

Johnson & Johnson drops skin whitening creams

Johnson & Johnson drops skin whitening creams

-- 2020-06-19 21:08:12

Johnson & Johnson has decided to stop selling skin whitening creams popular in Asia and the Middle East, it has said, after such products have come under renewed social pressure in recent weeks am...

Emirates adds flights to 10 more cities

Emirates adds flights to 10 more cities

FE Online Desk 2020-06-19 15:57:45

Dubai-based Emirates has added scheduled flights to 10 more cities, taking the total number of destinations on offer for travellers to 40. The newly included cities are: Colombo (from 20 June), Sialk...

IBBL board meeting held

IBBL board meeting held

FE Online Desk 2020-06-19 14:06:51

A meeting of the Board of Directors of Islami Bank Bangladesh Limited was held on Thursday through virtual conference. Presided over by Professor Md. Nazmul Hassan, Ph.D, Chairman of the bank, the me...

Move to reconvene stalled JBJP meet, virtually

Move to reconvene stalled JBJP meet, virtually

MUNIMA SULTANA 2020-06-19 13:32:17

The government has taken a move to reconvene a meeting of the Japan-Bangladesh Joint Platform (JBJP) virtually at the end of this month, officials said. They said the Public Private Partnership Autho...

India plans extra tariffs on 300 products from China

India plans extra tariffs on 300 products from China

-- 2020-06-19 10:10:04

India plans to impose higher trade barriers and raise import duties on around 300 products from China and elsewhere, two government officials said, as part of an effort to protect domestic businesses....

Cement makers seek reversal of provision

Cement makers seek reversal of provision

FE REPORT 2020-06-19 09:44:35

Local cement manufacturers have sought reversal of a provision regarding non-adjustable tax at their import and supply stage for the sake of the industry's survival. They said the non-adjustable AIT...

Rice prices up   

Rice prices up  

Yasir Wardad 2020-06-19 09:40:40

The prices of all kinds of rice went up in the city market last week adding to woes of the consumers during the coronavirus pandemic. Prices of most rice varieties increased by Tk 3.0-4.0 per kilogra...

Vessels' docs auto-renewed for six months   

Vessels' docs auto-renewed for six months  

SYFUL ISLAM 2020-06-19 09:28:55

The Department of Shipping (DoS) has extended the validity of certificates, surveys, audits and inspections of Bangladeshi flag vessels, which have already expired or are going to expire before Octo...

Oil slump cuts power cost

Oil slump cuts power cost

M AZIZUR RAHMAN 2020-06-19 09:27:26

The local overall electricity generation costs have fallen amid a downtrend in global oil prices with the spread of the Covid-19 pandemic across countries. "The falling oil prices have reduced electr...

BRAC launches support to returned migrant workers

BRAC launches support to returned migrant workers

FE Report 2020-06-19 09:26:20

BRAC has launched an emergency financial support of Tk 30 million for 7,250 returned migrant workers who are affected by the coronavirus pandemic. Dr Ahmed Munirus Saleheen, secretary of Ministry of...

UCB Director Farid Uddin dies of COVID-19

UCB Director Farid Uddin dies of COVID-19

-- 2020-06-18 16:28:22

Farid Uddin Ahmed, director of United Commercial Bank (UCB) and member of its risk management committee, died of COVID-19. He breathed his last at Anwer Khan Modern Hospital in Dhaka at 12:30am on Th...

No more free lunch: Banks collecting VAT on use of foreign movie channels

No more free lunch: Banks collecting VAT on use of foreign movie channels

Doulot Akter Mala 2020-06-18 09:58:25

Banks have started deducting value added tax or VAT on the subscription of Netflix and other global entertainment platforms after orders from the central bank and the tax authority. The subscribers...