Star Business Report

The visiting mission from the International Monetary Fund was not fully convinced with the plans laid out by the National Board of Revenue on accelerating the tax collection to raise the tax-to GDP ratio by 0.5 percentage points in the current fiscal year. 

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today sought fair prices and demanded ethical sourcing of garments from the US retailers and brands as the new wages for the workers are expected to be implemented from December this year.

Bangladesh’s garment exports to the US can increase annually anywhere from $400 million to $800 million if the American government offers a “cotton GSP scheme”, according to a study.

A democratic transition has emerged as a prerequisite for an inclusive and sustainable economy, said a noted economist today.

Refiners in Bangladesh today cut the price of soybean oil by Tk 5 and palm oil by Tk 4 a litre after edible oil prices declined in the international market.

Bangladesh Lamps is going to set up a production line to manufacture plastic parts for tube lights, said the company today.

Summit Alliance Port Limited (SAPL) has signed a memorandum of understanding with Pristine Logistics & Infraprojects Limited, one of the largest integrated rail terminal operators in India, to form a joint venture to improve rail logistics in Bangladesh.

Bangladesh's foreign exchange reserves slipped below $22 billion today after the central bank cleared import bills worth $1.36 billion through the Asian Clearing Union (ACU).

Energy Secretary Khairuzzaman Mozumder has been made the new finance secretary, the public administration ministry said in a notice today.

Bangladesh released two varieties of a genetically modified (GM) cotton for domestic cultivation, aiming to increase yields and reduce import dependence. 

Some web-based services of the central bank would remain inaccessible from 8pm on Monday to 8am on Wednesday as it would carry out emergency system maintenance activities, said the Bangladesh Bank in a notice today.

Mahbubul Alam, the newly elected president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has expressed his commitment to bolster trade and business in the country in the days ahead.

An association of restaurant owners today sought permission from the government to import broiler chicken, mutton and beef to counter a rise in their prices

Bangladesh Bank in a circular today relaxed a rule over the requirement of diploma certificates for bankers to get promotions. 

Under the ACU, Bangladesh clears import bills every two months and forex reserve usually falls after the payment.

The Investment Corporation of Bangladesh (ICB) has sanctioned a loan of Tk 20 crore in favour of Prime Bank Investment Limited (PBIL) from the “special fund for affected small investors of capital market” on a repayment basis.

The first and second Bangladesh-United Kingdom (UK) trade and investment dialogue will soon take place in Dhaka to discuss bilateral and investment issues between the two countries, Commerce Minister Tipu Munshi said today.

Wristwatches have long been considered as a status symbol for being a stylish tool that has practical uses while also being a clear indicator of the wearer’s social standing.

The National Board of Revenue (NBR) has framed rules regarding tax deducted at source (TDS) in line with the new income tax law that came into effect last month.

A technical assistance mission of the International Monetary Fund (IMF) and World Bank is expected to arrive in Dhaka tomorrow in order to undertake a detailed assessment of the Local Currency Bond Market (LCBM) and suggest ways for its development.