Poverty to end by 2024 Muhith says at BSEC’s National Mourning Day event Star Business Report Bangladesh will be free of poverty by 2023-24, Finance Minister AMA Muhith said yesterday. Bangladesh is on course to maintain its present growth trajectory, and if everything goes right it will become a developed nation by 2041 and fulfil […]
Written-off loans reach Tk 48,053cr AKM Zamir Uddin The amount of loans written off by banks increased six times year-on-year to Tk 141 crore in the first quarter of 2018 as the lenders used a central bank policy to clean up their books. This took the total written-off loans figure to Tk 48,053 crore since […]
NBR lifts 15pc VAT on solar panel import Star Business Report The National Board of Revenue has lifted value added tax (VAT) on import of solar panels in the face of demand from stakeholders. The move comes two months after the revenue authority slapped a 5 percent advance income tax (AIT), 5 percent advance trade […]
Exports to China drop 27pc Refayet Ullah Mirdha Bangladesh’s exports to China—one of the most promising Asian markets—fell 26.79 percent year-on-year to $694.97 million in 2017-18. The China Food and Drug Administration last year toughened certification regulations and it no longer accepts certification of the Bangladesh Standards and Testing Institution, said ATM Azizul Akil, senior […]
Protect every data to fight cyber crime Star Business Report Bangladeshi companies should establish proper security shields to protect their official data from cyber attacks, cyber security and audit experts said yesterday. Every organisation should think about security of their data before awarding the audit work to a chartered accountancy firm, said Luna Shamsuddoha, chairman […]
Govt widens reach of jute packaging law Sohel Parvez The government has made packaging of two more products—poultry and fish feed— in jute bags compulsory, a move that has been objected by the feed millers due to risks of quality deterioration. The Feed Industries Association of Bangladesh had earlier urged the government not to include […]
Govt widens reach of jute packaging law Sohel Parvez The government has made packaging of two more products—poultry and fish feed— in jute bags compulsory, a move that has been objected by the feed millers due to risks of quality deterioration. The Feed Industries Association of Bangladesh had earlier urged the government not to […]
Shipment delay weighs on RMG Star Business Report Shipment delays and late presentation of documents to Bangladesh’s authorities are among the most critical challenges faced by the country’s garment sector, according to a survey. Some 66 percent of the exports could not be delivered on time while late presentation of documents, which poses a money […]
Banks, NBFIs sign up to refinance power, infrastructure projects Star Business Report Eight banks and four non-bank financial institutions yesterday signed a participation agreement with Bangladesh Bank to enjoy funds from an Investment Promotion and Financing Facility (IPFF) II project. The central bank, as the project’s administrator, has formed a $403.70 million fund to lend […]
India doubles import tax on textile products, may hit China Reuters, New Delhi/Mumbai India doubled the import tax on more than 300 textile products to 20 percent on Tuesday as the world’s biggest producer of cotton tries to curb rising imports from China. It was the second tax hike on textiles in as many […]