Finance News: Latest Financial News, Finance News today in Bangladesh

Govt plans to take steps on financial stability

The government has planned to take a series of measures including formulation of a stress test guideline taking into account macro economic shocks to ensure the country's financial stability.Finance Minister AHM Mustafa Kamal disclosed the government's latest initiative while announcing the national budget for fiscal year (FY), 2020-21, at the...

Social safety net widens, covers 16.83pc of budget

In a bid to enable the poor to absorb the shock of the Covid-19 impact, Tk 955.74 billion has been allocated for the social security sector which is 16.83 per cent of the total budget and 3.01 per cent of GDP in fiscal year 2020-21. In the revised budget of...

Budget focuses on FDI

Foreign direct investment is likely to get focus in the upcoming fiscal year (FY) as the new budget proposed to enhance allocation for the development projects under the Prime Minister's Office (PMO).According to the budget proposals, Tk 32.17 billion has been allocated for the projects in FY 2020-21, up from...

Gold may get cheaper

Gold prices are expected to decline in the upcoming fiscal year as the government has proposed to withdraw the value added tax (VAT) on the import of gold bar in the national budget."I propose to withdraw 15 per cent VAT on the import of gold bar to discourage illegal import...

Tk 20b low-interest loan to boost employment

A low-interest loan facility worth Tk 20 billion has been proposed in the budget for fiscal year 2020-21, aiming to generate employment and support small and medium entrepreneurs.As per the budget proposals, the government would expand the range of distribution of low-interest loans to include more people from different walks...

All export sectors to pay 0.5pc source tax

The government has proposed to double the source tax to 0.5 per cent from existing 0.25 per cent for all export oriented sectors including the readymade garment (RMG) industry for the upcoming fiscal year of 2020-21.Earlier, the government proposed 1.0 per cent source tax for all export sectors for the...

5.0pc CD proposed on onion import

The government has proposed five per cent customs duty (CD) on import of onion with the view to ensuring fair market price for such goods producers in the country, encouraging its cultivation and reducing dependency on imports.Finance Minister AHM Mustafa Kamal unveiled on Thursday the national budget for fiscal year...

Cut in duties on raw material imports

Poultry feed and farm machinery might be cheaper from the next fiscal year amid cut in duties on their raw material imports. The poultry and agricultural machinery sectors got budgetary gifts as the budget for fiscal year 2020-21 (FY '21) has deducted import duties on some key raw materials.The finance...

Exports to Canada grow 14.53pc

Bangladesh's export to Canada grew by 14.53 per cent in 2019 to 1.97 billion Canadian dollar year on year mainly because of the trade privilege for Dhaka in the North American country.Exports to Canada fetched CAN$ 1.72 billion and CAN$ 1.65 billion respectively in year 2018 and 2017. Over 90...

GED seeks experts' opinion in rethinking priorities

As the country is grappling with worsening coronavirus situation, General Economics Division (GED) of the Ministry of Planning has sought experts opinion in rethinking priorities and resource allocation currently outlined in the Eighth Five Year Plan (8FYP), consequent sectoral reallocation, and adjustments to the Plan's macroeconomic framework, reports UNB.The development...

2.0pc incentive for remitters to continue

The national budget for fiscal year 2020-21 (FY '21) has proposed to continue existing 2.0 per cent incentive on money remitted by expatriate Bangladeshis.In his budget speech, Finance Minister AHM Mustafa Kamal made the proposal on Thursday and said the Prime Minister announced the incentive for expatriate Bangladeshis in the...

Viber launches gr video call feature

Viber has recently launched its new group video calls feature in Bangladesh.Up to 20 people will be able to participate in the group video calls for unlimited duration, says a statement.The news feature was added after being inspired by the tremendous success of Viber's group audio calls feature and growing...

UNDPR develops planning toolkit for SMEs

The United Nations Office for Disaster Risk Reduction (UNDRR), with the support of the Asian Disaster Preparedness Center (ADPC), developed a planning toolkit for small and medium enterprises (SMEs) to revive their business operation to the new environment, reports UNB.Bangladesh is currently witnessing significant economic shocks due novel coronavirus outbreak....

Tk 5.68tn budget for FY21 unveiled

In the name of Allah, Most Gracious, Most MercifulChapter One Madam Speaker I, A H M Mustafa Kamal, Finance Minister, seek your kind permission to place before this august House the proposed budget for FY 2020-21 and the supplementary budget for FY 2019-20. Madam Speaker 02. I begin my speech...