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

Refrigerator, AC getting cheaper with tax cutbacks

Local manufactured air-conditioner and refrigerator may get cheaper as the government is set to reinstate the reduced rate of value-added tax (VAT) on the products to make those affordable.The National Board of Revenue (NBR) would cut back the VAT to 7.5 per cent from the existing 15 per cent in...

Bank Resolution Act provision for ownership return not ‘maintainable’

The central bank has found the Section 18(a) of the Bank Resolution Act, which provides for ownership return of the merged troubled banks not 'maintainable' and has recommended its deletion. Bangladesh Bank Governor Md Mostaqur Rahman expressed such view Monday as Editors' Council in a meeting with him expressed deep...

AIT on export cash incentives being halved

Advance income tax (AIT) deducted at source on export cash incentives is set to be halved to 5.0 per cent from the existing 10 per cent in the new national budget as a fiscal stimulus for businesses long navigating adversities.According to finance ministry officials, the government makes to move for...

Sammilito Islami Bank gets chairman, MD

The government has appointed Quazi Shairul Hassan as chairman of the Sammilito Islami Bank PLC and Abedur Rahman Sikder as its managing director.The Financial Institutions Division of the finance ministry announced the appointments in two separate letters on Monday, reports bdnews24.com.Shairul is a former managing director at SABINCO, a joint...

Trump urges Iran, Israel to stop 'shooting' after first clash since truce

TEHRAN, June 08 (Agencies): US President Donald Trump on Monday told Iran and Israel to stop fighting after the two foes attacked each other's territory for the first time since a shaky ceasefire put five weeks of war on hold.Iran fired dozens of missiles at Israel overnight and Israel responded...

Metro rail safety audit flags design flaws and lack of certification

The first-ever independent safety audit of Dhaka's metro rail has identified a number of construction and design anomalies on MRT Line-6, which has been operating between Uttara and Motijheel without a formal safety certification since 2023.The Dhaka Mass Transit Company Limited (DMTCL) commissioned the audit in December last year following...

Exports worth $17.5b may be at risk

Bangladesh could face risks to exports worth approximately US$17.5 billion after graduating from the least-developed country (LDC) status due to loss of preferential market access in developed economies.Commerce Minister Khandaker Abdul Muqtadir told parliament Monday about the possible export loss, and mentioned preparatory measures to cope with such graduation aftermath.Responding...