Online tax returns can bring $32b extra revenues annually: CPD
Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.
Tk 127 crore owed to customers: DNCRP forms body to facilitate refunds
The platforms had offered hefty discounts to lure unsuspecting customers to make advance payments of thousands of crores of taka
Four steelmakers control 53% of the market: study
Although there are around 40 steelmakers in Bangladesh, just four based in Chattogram are currently catering to 53 percent of the total demand, according to market studies and industry insiders.
Achieving $110b export target by FY27 is difficult
The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.
Stocks plunge to 3-year low
Stocks in Bangladesh dropped for a fifth consecutive day yesterday for a selling spree of some large investors, sending the major index of the Dhaka Stock Exchange (DSE) to a three-year low.
BGMEA seeks extension of EU's Everything but Arms facility
EU ambassador meets BGMEA president in Dhaka
Robi, Banglalink may share network resources
Mobile network operators Robi and Banglalink recently signed a memorandum of understanding (MoU) to evaluate the potential sharing and rationalisation of their network resources.
DSE index hits three-year low
The DSEX ended today at 5,431.28 points
Banglalink’s revenue rises to Tk 1,544 crore in Jan-Mar
The revenue grew thanks to a significant expansion in subscriber base
Economy
Building a brand
The word brand means a product, service or concept that is evidently distinguished from other products, services or concepts so that it can be simply communicated and frequently marketed.
Bangladesh Krishi Bank’s losses up 78% in FY23
Bangladesh Krishi Bank (BKB), a state-owned lender, reported a 78 percent year-on-year increase in losses for the fiscal year that ended on June 30, 2023
Qazi Kholiquzzaman, Aynul Islam elected BEA President, GS
Dr. Qazi Kholiquzzaman Ahmad and Dr Md Aynul Islam have been elected the president and general secretary of Bangladesh Economic Association (BEA) for the next two years
PM opens SME fair in Dhaka to showcase local products
Prime Minister Sheikh Hasina on Sunday inaugurated the weeklong 11th National SME Product Fair to showcase products made by local small and medium enterprises.
Govt brings down ADP for a lack of fund
The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.
Internet subscriber base sees massive boost
The number of internet subscribers in Bangladesh spiked by a massive 43.5 lakh in March, the biggest jump in recent years, with mobile data users making up a bulk of the new customers.
Why are investors leaving the stock market?
Stock investors in Bangladesh are leaving the share market as they are losing their hard-earned money because of the persisting fall of the indices driven by the prolonged economic crisis, the worsening health of the banking industry, and rising interest and exchange rates.
BB lost ability to make decisions for economy: Fahmida Khatun
Bangladesh Bank (BB) lost its ability, to make independent decisions for the banking sector, and it is now operating to implement decisions of outsiders, which is unable to resolve the crisis of the banking sector
Global Economy
Russia seizes Deutsche Bank, UniCredit assets
A Russian court has ruled that Deutsche Bank and UniCredit's assets in the country are to be seized, documents showed
China launches anti-dumping probe into imported EU, US chemical
China's commerce ministry on Sunday said it had launched an anti-dumping investigation into imports of an important engineering chemical from the European Union, the United States, Taiwan and Japan.
Musk arrives in Indonesia's Bali for planned Starlink launch
Tycoon Elon Musk arrived on the Indonesian island of Bali on Sunday ahead of the planned launch of SpaceX's Starlink internet service, which the Indonesian government hopes will boost internet penetration and health services in remote parts of the sprawling archipelago
5 banks to seek offshore banking deposits at NY campaign
The leading banks will arrange a dinner for expatriate Bangladeshis at New York LaGuardia Airport Marriott
Saudi crown prince seeks soft power in game hub Japan
Crown Prince Mohammed bin Salman visits Japan next week, where he will hold talks on energy while hunting more opportunities in gaming as he seeks to improve Saudi Arabia's image
Higher US food prices lead to a shift in shopping habits
Consumer inflation data published Thursday showed that food prices rose by 2.2 percent in the 12 months to April -- masking some sharp differences between items.
UAE’s AD Ports Group to invest $1 billion to develop Ctg port
The Chittagong Port Authority signs MoU with the Abu Dhabi-based company
US consumer inflation eases slightly in April, sending stocks higher
The annual consumer price index (CPI) came in at 3.4 percent in April, down 0.1 percentage point from March
Organisation News
Alliance Finance, Concord Real Estate sign MoU on home loan
Alliance Finance recently signed a memorandum of understanding (MoU) with Concord Real Estate to finance the potential apartment buyers of the realtor and offer them exclusive home loan benefits at a competitive rate.
Walton unveils new models of electronics with advanced features ahead of Eid
Walton recently unveiled a slew of new models of products, including refrigerators, air conditioners, OLED TVs, washing machines and fans, with advanced technology and features ahead of Eid-ul-Azha.
Edison, GPH Ispat sign deal on using materials
Edison Real Estate recently signed a strategic partnership agreement with GPH Ispat at the realtor’s headquarters in the capital’s Tejgaon, enabling the former to use materials designed to optimise performance.
Avery Dennison with KLABU Foundation and NGO Friendship organise football tournament for children in Ukhiya
Avery Dennison, a global leader in materials science and digital identification solutions, with the KLABU Foundation and the Bangladeshi NGO Friendship organised a football tournament for children living in Ukhiya at Cox’s Bazar, the world's largest refugee camp.
imo, JAAGO join hands to empower marginalised children
Instant communication platform imo and Bangladesh-based non-profit organisation JAAGO Foundation signed an Memorandum of Understanding (MoU) to facilitate better education for the marginalised children of the country.
Business leaders call for interest rate ceiling
The Bangladesh Bank told businesspeople that the lending rates will not exceed 14 percent, according to the leaders of several trade bodies.
Electro Mart launches Eid-ul-Azha campaign for its Konka and Haiko brand electronics
Electro Mart has launched a monthlong promotional programme for its Konka and Haiko brand electronics ahead of Eid-ul-Azha.
Islami Bank, Mastercard name winners of Transfast-Islami Bank Remittance Campaign
Islami Bank Bangladesh and Transfast, a remittance brand of Mastercard, declared the winners of the “Transfast-Islami Bank Remittance Campaign”.
Business Multimedia
Potato price shoots up
The price of potatoes has begun an upward climb in the market
92 thousand crores or more siphoned out in 15 years?
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
Is Bangladesh going towards a deep economic crisis?
How can Bangladesh avoid the economic crisis to deepen further?
Who will benefit from WTO's duty benefit extension?
What are WTO’s duty-free benefits?
How can Bangladesh resolve economic, political problems?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
National Bank’s losses jump 145% in Q1
Crisis-ridden National Bank’s financial woes have deepened further, as the bank’s losses increased by a massive 145 percent year-on-year in the first quarter of 2024.
Amnesty to black money in EZs, hi-tech park may go
An amnesty provided to black money invested in economic zones and hi-tech parks is unlikely to be continued from the next fiscal year of 2024-25 as per plans of the National Board of Revenue (NBR).
Cash subsidy for exports surges. Only garment yields expected results
The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.
Next budget will be challenging than previous years: Debapriya
High inflation, rising pressure on external account to slow down economy, the economist said
Too much of cement: production capacity outstrips demand
Competition in the cement industry of Bangladesh could become even narrower as smaller producers are at risk of going out of business due to overcapacity in production and increasingly higher input costs.
Merging minds with machines
With the news of brain chip implants, our friends joked that advertisers would run commercials in our brains if we got chips without a subscription.
Power producers may lose zero-duty benefit
Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.
No let-up in reserves slide
Bangladesh’s foreign exchange reserves have been falling since September 2021 despite a series of government initiatives to reverse the trend.
Nutrition budget underutilised
Bangladesh does not have a dedicated nutrition budget. On top of that, ministries don’t utilise the full funds allocated to them for nutrition related activities, said speakers at an event yesterday.
Bangladesh could earn billions from carbon trade: experts
Bangladesh could earn a few billion US dollars from global carbon trading each year if carbon reduction projects are properly implemented in the country, according to speakers at a discussion.
