Economy

Economy

Rising interest rates deter new investment, expansion plans

If banks raise lending rates by one percentage point, it costs local pharmaceutical and chemical conglomerate ACI Limited Tk 70 crore in interest payments.

59m ago

Introduce national minimum wage, uniform labour law

Experts and members of a labour reform commission formed by the government have suggested the introduction of a national minimum wage for workers and a uniform labour law applicable to employees both inside and outside the Export Processing Zones (EPZs).

59m ago

VAT hike raises medicine prices

Healthcare seekers face higher prices for medicine due to the hike in value-added tax (VAT) on trades by pharmacies and drug stores.   

59m ago

Imports of most Ramadan commodities rise

Imports of most essential commodities related to Ramadan increased in the first six months of the current fiscal year 2024-25, with the Bangladesh Trade and Tariff Commission (BTTC) stating that the prices of these items, whose demand rises during the fasting month, would remain stable.

59m ago

Killing the golden goose of internet opportunity

The previous Awami League regime, which touted its efforts to make Bangladesh digital, mirrored the poor farmer in Aesop’s fable of the golden goose when dealing with the mobile voice and internet sectors. The interim government is now replicating this flawed approach following its predecessor’s footsteps.

59m ago

Independent directors not liable for finance company’s default: BB

No independent director will be considered a defaulter if the finance company with which they are associated defaults, the central bank said in a circular.

59m ago

Consumers’ association calls for withdrawal of VAT hike

The Consumers Association of Bangladesh (CAB) yesterday urged the government to refrain from implementing the VAT and supplementary duty (SD) hike until the end of Ramadan, warning that the move would worsen the financial struggles of low- and middle-income families.

59m ago

Businesses seek relaxed loan classification rules

Business leaders have presented nine demands to the central bank, including an exit policy, relaxed loan classification rules, and faster disbursement of cash incentives, as they struggle to sustain their industrial institutions amidst ongoing economic hardship.

59m ago

Digital divide hinders disability inclusion in tech workforce: experts

A lack of specially tailored skill training programmes that match the market demand and poor access to digital devices are the main barriers deterring persons with disabilities from entering ICT sector jobs, according to experts.

1m ago

IMF asks to raise tax-GDP ratio by 0.6 percentage points

The International Monetary Fund (IMF) has asked to increase the tax to GDP ratio by 0.6 percentage points by the end of this fiscal year to make up for last fiscal year’s revenue collection shortfall.

1m ago

Reliance on captive power weakens PDB

Captive power, which the industrial sector in Bangladesh leans on heavily, has been weakening the financial health of the Bangladesh Power Development Board (PDB) by costing it customers that pay the highest tariffs.

1m ago

National Single Window to be launched in March

He also said a masterplan to fully automate services at the NBR was being drafted.

1m ago

BSEC summons Confidence Cement for dividend payment failure

The cement maker has to appear before the stockmarket regular on Dec 8

1m ago

Banks asked to provide loan info of Thermax Group

The Bangladesh Bank has asked lenders in the country to provide detailed information on all the loans and liabilities of companies operated by Thermax Group..The banks have been asked to provide the information by Wednesday. There are more than a dozen companies under the group that produc

1m ago

Dutch-Bangla Bank’s services to remain suspended temporarily

Core banking will be unavailable from Jan 1-5 next year and agent banking from Dec 30 to Jan 5

1m ago

6-day furniture fair begins in Chattogram

28 companies are taking part in the event

1m ago

Govt appoints administrator to BASIS

The administrator is asked to hold election in 120 days

1m ago

Bangas sees Q1 profit surge by 16%

Revenue rises 8% year-on-year

1m ago