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

Early start of recovery process offers dividends

Bangladesh's ability to come out of the Covid-19 dilemma and resume economic activities earlier than many countries has paid dividends, economists and entrepreneurs told a discussion held in Dhaka Tuesday.The discussants, however, laid emphasis on taking some more supportive steps to accelerate the post-pandemic recovery process.They insisted that an economic...

GSP-plus contingent on reforms: EU

Bangladesh will not get the 'Generalised Scheme of Preferences (GSP)-Plus' facility until it implements the 27 core UN conventions on labour reforms, human rights and governance, says the European Union (EU). The message was conveyed on Tuesday during a virtual high-level policy meeting between Bangladesh and the EU, the largest...

Only 0.4pc Msmes get funds, IFC survey finds

Only 0.4 per cent of the country's micro, small and medium enterprises (Msmes) received financing from banks and financial institutions under the government's packages to recover from the Covid-19 pandemic-induced loss in their business. It happened so, as the Msmes were not well informed about the bailout facilities, according to...

Tax revenue collection gradually getting pace

Tax revenue collection started gaining momentum gradually after the Covid-19 pandemic fallout, posting 4.11 per cent growth in the first quarter (Q1) of the current fiscal year (FY), 2020-21, compared to that of the corresponding period last year.In the month of September, the National Board of Revenue (NBR) achieved 10.76...

Govt plans potato import to cut price

The government was clueless about the abrupt potato price hike, agriculture minister Dr Mohammad Abdur Razzaque said on Tuesday, hinting at import to stop the market from getting overheated."Our key objective is farmers get fair prices of their produce, but it was not known to us that the price might...

BD startup raises $22.5m from foreign investors

ShopUp, a Bangladeshi business-to-business digital commerce platform for micro and small entrepreneurs, has raised $22.5 million from foreign investors, several global media outlets reported on Tuesday.The amount is Bangladesh's largest 'Series A' financing round, according to the US-based TechCrunch.The finance is co-led by Sequoia Capital India and Flourish Ventures, the...