Tax cuts for cement industry nominal, won’t lower prices

Although the government said that it would reduce the taxes levied on the import of raw materials used to make cement, this initiative will not have a satisfactory impact as prices would remain the same at the consumer level, according to market players.
5 June 2021, 18:00 PM

FBCCI backs money whitening for specific period

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday said the opportunity to legalise undisclosed money could be offered in the productive sector for a specific period, not for indefinitely.
5 June 2021, 18:00 PM

Marico to invest Tk 227cr in new unit

Marico Bangladesh is set to invest Tk 227 crore to establish a new manufacturing unit at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram as a part of its efforts to catch a greater share of the growing market for fast-moving consumer goods.
5 June 2021, 18:00 PM

Corporate tax cut won’t pay off

Despite a 2.5 percentage point corporate tax reduction, listed and non-listed companies might end up paying more tax than that last year because of a new plan to increase the tax deducted at source (TDS), said the ICAB yesterday.
5 June 2021, 18:00 PM

Continue 0.5pc source tax for 5yrs

Garment exporters yesterday demanded the continuation of the existing 0.5 per cent source tax for the next five years.
5 June 2021, 18:00 PM

Mercantile Bank beefs up digital platforms

Mercantile Bank Ltd (MBL) has taken a set of initiatives to widen its businesses by way of strengthening its different digital platforms, sidestepping the ongoing business slowdown caused by the coronavirus pandemic.
1 June 2021, 18:00 PM

BB eases farm loan rescheduling

The central bank yesterday instructed banks to reschedule defaulted loans in the farm sector without any down payment as part of its efforts to protect farmers from the ongoing economic hardship deriving from the coronavirus pandemic.
1 June 2021, 18:00 PM

Clinics outside major cities to get tax break

The government will likely offer a 10-year full tax exemption in order to encourage private investors to establish hospitals outside of four districts, including Dhaka and Chattogram.
1 June 2021, 18:00 PM

Remittance hits 10-month high

Remittance inflows hit a record high of $2.17 billion in May, which was the highest since August this fiscal year, thanks to the hard-earned money sent by migrant workers amid the second wave of the Covid-19 pandemic.
1 June 2021, 18:00 PM

Tk 54.8 lakh crore black money generated in 10yrs

Around Tk 88.6 lakh crore of untaxed or black money has been generated in the past 48 years since Bangladesh gained independence, said Bangladesh Economic Association (BEA) yesterday.
1 June 2021, 18:00 PM

Nine banks incur net losses in Q1

Nine banks faced net losses in the first quarter of this year as the majority of them have been in the red for years due to wide-ranging financial scams.
1 June 2021, 18:00 PM

Standard Chartered Saadiq wins Digital Banker award

Standard Chartered Saadiq Bangladesh has won a “Best Islamic Bank for Digital CX (customer experience) - Bangladesh Award (DCX 2021)” from Digital Banker.
1 June 2021, 18:00 PM

New look Supercrete Cement bag unveiled

LafargeHolcim Bangladesh yesterday unveiled a new Supercrete Cement bag to be available everywhere by June 10.
1 June 2021, 18:00 PM

Mercantile Bank senior exec VP promoted to DMD

Mercantile Bank recently witnessed a senior executive vice president being promoted to the post of deputy managing director.
30 May 2021, 18:00 PM

Banking hours 10am to 3pm until June 6

Bangladesh Bank yesterday extended the banking hour by half an hour and decided to keep banks open from 10am to 3pm until June 6.
30 May 2021, 18:00 PM

Google, Amazon register for VAT

Global tech giant Google and e-commerce company Amazon have finally got-value added tax (VAT) registration from the revenue authority, ending a two-year stalemate over the issue.
30 May 2021, 18:00 PM

Enhance support for shrimp farmers, jute mill workers

Various labour organisations and industry experts have urged the government to allocate special funds in the upcoming national budget to help distressed jute mill workers and shrimp farmers survive the ongoing coronavirus pandemic.
30 May 2021, 18:00 PM

Fareast Stocks’ board to be restructured

The Bangladesh Securities and Exchange Commission (BSEC) has decided to restructure the board of directors of Fareast Stocks and Bonds due to the brokerage firm’s failure to maintain rules and regulations.
30 May 2021, 18:00 PM

Stocks pass 6,000 points after over 3 years

Dhaka stocks yesterday crossed 6,000 points for the first time in more than three years thanks to increased participation of buoyant investors going after banking stocks.
30 May 2021, 18:00 PM

Pran Agro issues internationally guaranteed Tk 210cr bond

Pran Agro has issued a non-convertible and redeemable bond worth Tk 210 crore, or equivalent of $25 million, with 100 per cent credit guarantee from a global company, a first of its kind in the country.
30 May 2021, 18:00 PM