The British multinational bank logged profits of Tk 2,335 crore in 2023, up from Tk 1,655 crore in 2022, according to its financial reports.

He also suggested the government increase direct taxes on wealthy people so that people with low incomes need not be overburdened with tax.

Although there is no accurate data on the market for electronic home appliances, industry insiders believe that sales during Eid-ul-Fitr account for around 60 percent of their annual receipts.

Last week, the finance division issued a circular asking all ministries and divisions to send by April 29 their budget proposals for 2024-2025 and their expenditure plans for the following two financial years to help prepare the midterm budgetary framework.

Onion seeds are often referred to as “black gold” by farmers in the Rajshahi region due to their dark shade and high market value. This stands true for the fact that when planting ran from October to early December last year, the seeds were sold at an average of Tk 5,000 per maund in the district, some 250 kilometres west of the capital.

As middle and low-income segments of society struggle against the backdrop of a severe cost-of-living crisis, the surge in aggregate demand ahead of Eid-ul-Fitr poses a further hurdle for many striving to celebrate the festival.

As the darkness of night made way for the first light of day, a rhythmic hum echoed through the tranquil dawn in Jamalpur like a heartbeat.

The central bank has already unveiled a framework to address vulnerabilities in the banking sector, rein in non-performing loans (NPLs) and punish wilful defaulters.

Bangladesh Development Bank Ltd (BDBL) will be merged with Sonali Bank while Rajshahi Krishi Unnayan Bank (Rakub) will be taken over by Bangladesh Krishi Bank (BKB), according to a central bank official.

The apex trade body said at present, 2 percent tax at source is applicable on the supply of items such as rice, wheat, potato, onion, garlic, chickpeas, lentils, turmeric, pepper, maize, flour, flour, salt, edible oil, sugar, and all kinds of fruits among other items.

The law minister said, while other laws had been drafted before discussions were held with stakeholders, the AI law would be prepared after thorough discussions with stakeholders.

The current challenges are over reining in inflation, increasing foreign exchange reserves, remittance inflows, expanding and diversifying exports and their destinations, and developing human resources, said FBCCI President Mahbubul Alam.

Md Afzal Karim, managing director of Sonali Bank, told The Daily Star that a formal decision was yet to be taken about the merger.

The guideline comes four months after the BB issued the Prompt Corrective Action (PCA) framework to give a procedural direction for mergers and acquisitions amidst the deteriorating financial condition of some banks and financial institutions.

The government plans to design a Tk 7,96,900 crore outlay in the new budget with a focus on tight spending policy as economic headwinds are expected to persist in the next fiscal year.

No employees of the merged entity can be fired within three years of a takeover by the acquirer, said the BB.

This will be the first meeting of the council since the new government took office after the January 7 parliamentary elections. Thus, it is the maiden meeting for the new finance minister on the budget and the overall macroeconomic situation.

At present, taxpayers show their undisclosed assets in their tax returns through investment in apartments, buildings and economic zones and high-tech parks.

On April 2, the World Bank forecast that inflation in Bangladesh might stay elevated at 9.6 percent in fiscal year (FY) 2023-24 before moderating to 8.6 percent in FY 2024-25.

The World Bank defines extreme poverty based on an international poverty income of $2.15 a day.