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

NBR eyes most of Tk 120b from four prohibitively taxed items

Over one-third of the projected Tk 120 billion in additional revenues that the government expects in the next six months through a surprise VAT hike will come from four prohibitively taxed items, officials say.These include cigarettes, artificially flavored drinks, and both carbonated and non-carbonated electrolyte drinks.These are among the 100...

Bangladesh strategically important to India

Indian Army Chief General Upendra Dwivedi on Monday said Bangladesh is strategically important to India."As of today, there is no vulnerability from any side," he said during the annual press conference organised on the occasion of the country's Army Day, reports Indian media. India observes Army Day on January 15...

Railway saves over Tk 16b in two projects

Bangladesh Railway has saved over Tk 16 billion in two projects involving new track development on the Dhaka-Chattogram rail corridor and the Akhaura-Agartala line after final revisions.Sources say reduced estimations have been proposed for contingency, resettlement, transport procurement, and administrative expenditures in both projects. Estimations for such components of development...

ITFC to provide US$2.75b annual financing support

The Jeddah-based International Islamic Trade Finance Corporation (ITFC) would provide Bangladesh with US$2.75 billion annual financing support for the development of energy and agricultural sectors.To this effect, the ITFC inked a financing plan deal with Bangladesh government at a ceremony during an official visit by the high-level delegation from Bangladesh...

FICCI worried over impact on business cost, consumers

The Foreign Investors' Chamber of Commerce and Industry (FICCI) has expressed concern over the increase in VAT and Supplementary Duty (SD) on various products without prior consultation with respective stakeholders. The hike in VAT, SD, and other taxes will not only burden consumers but also substantially raise the cost of...

Deposed PM Hasina, British MP Tulip, others sued for graft

Deposed prime minister Sheikh Hasina, her sister Sheikh Rehana, Rehana's daughter British MP Tulip Siddiq and others have been sued for alleged irregularities in plot allocations under the Purbachal New Town Project.The Anti-Corruption Commission (ACC) filed Monday three cases also naming Sheikh Rehana's son Radwan Mujib Siddiq Bobby and daughter...

JnU students agitate for 2nd campus

The agitating students of Jagannath University (JnU) withdrew their hunger strike on Monday night after the government authorities assured them of meeting their demands.Earlier on Sunday, the students launched the strike in front of the secretariat as part of their agitation programme.The demands include handing over the second campus project...