Search results for: economy

NBR chairman in favour of special tax benefits to prevent money laundering

-- 2020-11-30 23:27:19

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem has said ‘special tax benefits’ can be given to those who are laundering money abroad for fear of paying taxes in the c...

NBR extends deadline for tax returns until Dec 31

FE ONLINE REPORT 2020-11-30 16:46:41

The National Board of Revenue (NBR) has extended the deadline for tax return submission by individual taxpayers until December 31. The NBR Chairman Abu Hena Md Rahmatul Munim on Monday said the deadl...

National Income Tax Day on Monday

-- 2020-11-29 19:12:04

The ‘National Income Tax Day-2019’ will be observed on Monday across the country aiming to create awareness among the people for payment of income tax regularly. The National Board of Rev...

Private external debt drops in FY20

FE Online Report 2020-11-29 11:53:57

External debt to the country’s private sector declined in the past fiscal year (FY20) mainly due to the outbreak of Covid-19. Statistics available with Bangladesh Bank showed that outstanding s...

Russian economy to fall by 4.5pc in 2020: official

Xinhua 2020-11-29 11:38:07

The Russian economy is projected to decline by 4.5 per cent this year, a senior official said Saturday. The drop will be "more than 4.0 per cent, (and) it will be even 4.5 per cent," Aleksei Kudrin...

Dhaka's foreign aid receipt up by about 20pc in July-Oct

FE REPORT 2020-11-28 10:26:15

Bangladesh's foreign aid inflow boosted in the first four months of the current fiscal year (FY), 2020-21, as the development partners disbursed 19 per cent higher funds than the corresponding period...

Bangladesh starts sending workers abroad

ARAFAT ARA 2020-11-28 08:41:08

Bangladesh has started sending workers abroad with jobs after months of uncertainty triggered by the Covid-19 pandemic. The Bureau of Manpower, Employment and Training (BMET) data showed that a total...

Supply chains of contract manufacturers to be more traceable thru VAT guideline

FE REPORT 2020-11-27 10:40:09

The contract manufacturers will enjoy a simplified VAT process for the production and supply of goods under a new guideline. The National Board of Revenue (NBR) issued the guideline on Tuesday to hel...

Deadline for disbursing stimulus money among smaller enterprises extended

SIDDIQUE ISLAM 2020-11-27 09:43:05

The central bank has extended the deadline further to implement the stimulus package for cottage, micro, small and medium enterprises (CMSMEs) from November 30 to December 31. It has also relaxed reg...

Dhaka-Thimphu to ink PTA deal next month, says Bhutanese envoy

-- 2020-11-26 20:38:29

Bhutan will sign the Preferential Trade Agreement (PTA) with Bangladesh in December to further enhance trade and commerce between the two countries. "All necessary works on the PTA have been complete...

UNCTAD asks Israel to end Gaza occupation that cost $16.7b in past decade

FE ONLINE REPORT 2020-11-26 19:38:21

The continued Israeli occupation brings the Gaza Strip in near-collapse as the cost is estimated at $16.70 billion in the past decade, 2007–2018 period to be specific. The latest report of the...

Switzerland keen to deepen economic ties with Bangladesh, says envoy

UNB 2020-11-26 18:21:26

Switzerland wants to strengthen and widen its ties with Bangladesh to explore ‘amazing potential’ together as Bangladesh is set to celebrate its 50 years of independence next year with Vis...

European tourism industry sees partial recovery amid pandemic

-- 2020-11-26 13:36:32

The European tourism industry only partially recovered amid the COVID-19 pandemic, as the contraction of the tourist accommodation sector moderated in summer, according to a Eurostat report. The Euro...

Dhaka weighs possibility of joining RCEP, but chance little

SYFUL ISLAM 2020-11-26 12:35:51

Bangladesh's inclusion in the Regional Comprehensive Economic Partnership (RCEP) and the Association of Southeast Asian Nations (ASEAN) would be an uphill task, given the high tariff gap between Dhaka...

Private port to handle bulk cargoes to facilitate trade with India

Doulot Akter Mala 2020-11-26 10:36:35

The National Board of Revenue (NBR) has allowed Summit Alliance Port Limited (SAPL) to handle exports and imports of bulk and non-containerised cargoes to facilitate bilateral trade with India. Fro...

Dictated credit, lack of bad borrowers' data blamed for swelling NPL

FE REPORT 2020-11-26 10:27:14

Bankers and academicians have cited overfinancing, dictated credit, lack of sufficient information and database of bad borrowers as key reasons for rising non-performing loan (NPL) in Bangladesh. B...

New alliance launched to help Bangladeshi farmers thrive

FE Online Report 2020-11-25 17:11:08

Farm entrepreneurswill be able operate through ‘Better Life Farming’ centres, which will provide agri-inputs, crop advisory and market linkages under one roof to smallholder farmers. Laun...

IMF chief says add’l monetary stimulus may pose risks to financial stability

-- 2020-11-25 13:23:52

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that additional monetary stimulus may pose important risks to financial stability, urging fiscal policy to play a sign...

Bangladesh’s forex reserves cross $41b again

FE Online Report 2020-11-25 12:55:56

Bangladesh’s foreign exchange (forex) reserves crossed the US$41 billion-mark again on Wednesday following lower import payment obligations and higher growth of inward remittance. The forex res...

Non-tariff barriers may be discussed at Indo-Bangladesh talks

MIR MOSTAFIZUR RAHAMAN 2020-11-25 10:02:11

Foreign Secretary (FS) Masud Bin Momen is scheduled to visit Delhi on December 9 to join Bangladesh-India FS-level talks, which will mainly focus on the upcoming meeting between the prime ministers of...

Elon Musk overtakes Bill Gates to become world's second-richest person

-- 2020-11-24 19:13:03

Tesla Inc Chief Executive Officer Elon Musk has toppled Microsoft co-founder Bill Gates as the world’s second-richest person. Elon Musk overtook Facebook’s Mark Zuckerberg to become the t...

US ambassador to Bangladesh meets CEO of PPP Authority

FE Online Report 2020-11-24 17:05:16

Earl R Millar, ambassador of the United States to Bangladesh paid a courtesy call to  Sultana Afroz, secretary to the Bangladesh government and CEO of the Public-Private Partnership Authority (PP...

Covid causes nearly 40pc decline in FDI inflow into Bangladesh

FE Online Report 2020-11-24 15:21:03

The net inflow of foreign direct investment (FDI) in Bangladesh declined by 39 per cent in the past fiscal year (FY20) over the previous one (FY19), according to the latest statistics released by the...

Bangladesh may get $500m more WB fund for vaccine procurement

FHM HUMAYAN KABIR 2020-11-24 09:59:31

The World Bank (WB) has assured Bangladesh of providing US$500 million worth of funds for procuring coronavirus vaccine to be to inoculated all citizens gradually, officials said on Monday. "The WB...

Recovery slower in the informal economy

Narayan Das and Asma Tabassum 2020-11-23 16:13:50

In South Asia, three-quarters of workers depend on informal employment. The informal economy of Bangladesh constitutes of 86.2 per cent of the total employed population (aged 15 years or older) (Labou...

Sri Lanka to open $250m tire factory in 2021

-- 2020-11-23 14:16:59

A 250-million-US-dollar tire manufacturing plant in Sri Lanka's western town of Horana is scheduled to open in January 2021, local media reported on Monday. The factory built by the Rigid Tyre Cor...

Singapore narrows 2020 GDP growth forecast to -6.5 to -6pc

-- 2020-11-23 12:38:37

Singapore's Ministry of Trade and Industry (MTI) has said that it narrowed the gross domestic product (GDP) growth forecast for 2020 to "-6.5 to -6 per cent" from "-7 to -5 per cent." The ministry on...

EPB lowers service charge on exports to EU

MONIRA MUNNI 2020-11-23 10:36:41

The state-owned Export Promotion Bureau (EPB) has reduced the service charges under the registered exporter system of the European Union following the demand from apparel makers, officials say. The E...

Dhaka urges Delhi not to impose fresh NTBs, and widen trade gap

SYFUL ISLAM 2020-11-23 10:04:08

Bangladesh has requested India to withdraw its new customs rules which, officials fear, may make it difficult for the former to get tariff preferences. Dhaka made the request to New Delhi after a tho...

Taiwan's manufacturing output decline again

-- 2020-11-22 15:17:54

The production value of Taiwan's manufacturing industries totaled 3.2 trillion new Taiwan dollars (about 112 billion US dollars) in the third quarter of this year, down 4.56 per cent year on year, acc...