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

NBR bifurcation triggers rowdy protest by officers

A midnight decision dissolving the National Board of Revenue into two entities triggers raucous protests as NBR staffers threw a three-day nationwide pen-down strike in revenue offices, while the government and economists termed it a "welcome move". A newly issued ordinance also provided for abolishing the Internal Resources Division (IRD),...

10 reasons why NBR split

Government decision dissolving the National Board of Revenue into tax- policymaking and tax-administration divisions is to improve efficiency, reduce conflicts of interest, and widen tax base, the CA Office says.The explanation came Tuesday from the office of the head of interim government as a section of NBR staff took it...

Protectionism, apparel export overreliance key barriers

Protectionist policies and overdependence on apparel exports are among the major internal challenges preventing Bangladesh from joining multilateral trade blocs, said Albert Park, chief economist of the Asian Development Bank (ADB).Speaking at an event on the sidelines of the 58th ADB Annual Meeting held recently in the Italian city of...

100 auto-rickshaws seized at Asadgate

A total of 100 unauthorised battery-run rickshaws were seized from the city's Asadagate area on Tuesday during a drive to check movement of the unfit vehicles on the main roads.Dhaka North City Corporation (DNCC) and Dhaka Metropolitan Police jointly conducted the drive.DNCC Administrator Mohammad Azaz, DNCC Zone-5 Zonal Executive Officer...

Deficit financing not thru bank borrowing or high-powered money

Prudence is at play in budgeting now as Finance Adviser Dr Salehuddin Ahmed said Tuesday this government wouldn't implement the next budget by borrowing from banks or printing money. He also said a very realistic Annual Development Programme (ADP) will be taken in the budget for next fiscal year. "We...

HC commutes sentence of seven death-row convicts

The High Court has commuted sentence of seven death-row convicts in a case filed over the Ramna Batamul concert bombing in the capital during Pahela Baishakh celebrations in 2001.Among them, one's death sentence has been commuted to life sentence and six others have been given 10 years' imprisonment.Besides, the HC...