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VAT waived for export cos

DOULOT AKTER MALA | 2024-11-07 00:00:00

Export-oriented companies would enjoy value-added tax (VAT) waiver on transfer of capital machinery and spare parts on three conditions, one of which is that both of the companies must have valid bond licences, according to a new General Order (GO)...

EU to buttress interim govt's anti-graft fight

FE REPORT | 2024-11-07 00:00:00

The European Union stands ready to support Bangladesh's interim government, headed by Chief Adviser Prof Dr Muhammad Yunus, in every possible way in its reform initiatives and fight against corruption.Paola Pampaloni, director, Asia and Pacific Department of European External Action...

Govt approves bulk imports of rice, wheat, sugar, LNG, fertiliser

2024-11-07 00:00:00

The Advisors Council Committee on Government Purchase (ACCGB) on Wednesday approved a number of proposals to procure rice, wheat, sugar, LNG, and fertiliser to meet local demands and award contracts for upgradation of landing stations.Finance Adviser Dr Salehuddin Ahmed presided...

Govt raises asking rates by 7-10pc

YASIR WARDAD | 2024-11-07 00:00:00

The government on Wednesday announced its decision to procure 1 million tonnes of rice and paddy during the upcoming Aman-harvest season.Under the plan, parboiled rice will be procured at Tk 47 a kg, white rice (atap) at Tk 46 a...

Waiver of customs, regulatory duties on onion import

FE REPORT | 2024-11-07 00:00:00

The government has removed all customs and regulatory duties on onion import in its seamless efforts to ease the volatile spice market.The National Board of Revenue (NBR) cut 10-per cent duties, earlier imposed as customs and regulatory ones, according to...

Prayer Timings (2024-11-07)

2024-11-07 00:00:00

Anniversary Supplement (2024-11-07)

2024-11-07 00:00:00

Tenders invited for importing LNG cargoes from spot mkt

FE REPORT | 2024-11-07 00:00:00

State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) invited two fresh tenders and reissued a previous tender to procure three spot LNG cargoes.The new tenders aim to make purchases for the December 14-15 and December 20-21 delivery windows while the reissued...

New ordinance to grant commission for recovering laundered money

FE REPORT | 2024-11-07 00:00:00

Bangladeshi embassies in some richer countries are reportedly getting huge requests from expatriates for authorisation of power of attorney for selling their assets in homeland to take money abroad, prompting prevention plans. After selling the assets they are taking money...

Dr. Yunus greets Donald Trump

FE REPORT | 2024-11-07 00:00:00

Chief Adviser Dr Muhammad Yunus on Wednesday congratulated US President-elect Donald Trump on his victory."I look forward to working together to further strengthen our partnership and foster sustainable development," Dr Yunus said in a letter to Mr Trump."I am delighted...

New regulatory rules to augment liquidity feeding

FE REPORT | 2024-11-07 00:00:00

Liquidity support to some crisis-stricken banks may be ramped up through a new mechanism, the central bank says and assures depositors of their money's security. The cash-hungry commercial lenders have already availed nearly Tk 56 billion from well-off banks under...

Stunning comeback: Trump elected 47th US president

2024-11-07 00:00:00

Donald Trump was elected president, capping a remarkable comeback four years after he was voted out of the White House and ushering in a new American leadership likely to test democratic institutions at home and relations abroad, reports Reuters.Trump, 78,...

Current-account deficit shrinks amid signs of economic pickup

JASIM UDDIN HAROON | 2024-11-07 00:00:00

Current balance-of-payments (BoP) data show signs of Bangladesh's economy picking up with export receipts rising, imports returning to positive growth and a strong rebound in remittances.This has led to a narrower current-account deficit, while both the financial and capital accounts...

Will the Fed really 'lose control' of the bond market?

2024-11-07 00:00:00

ORLANDO, Florida, Nov 6 (Reuters): When Federal Reserve Chair Jerome Powell and his colleagues meet this week to discuss their next interest rate move, they'll face a much more complicated situation than they did only two months ago, due to...

Some European firms retreat from Israel-linked finance amid war pressure

2024-11-07 00:00:00

LONDON, Nov 6 (Reuters): Several of Europe's biggest financial firms have cut back their links to Israeli companies or those with ties to the country, a Reuters analysis of filings shows, as pressure mounts from activists and governments to end...

What's at stake for global markets in a Trump presidency

2024-11-07 00:00:00

As Donald Trump appears poised to head back to the White House, the US dollar and stock market are seen as winners, but a Republican presidency could weigh on bonds, emerging markets, clean energy and sustainable investing, reports Reuters.Here's how:CURRENCIESA...

Tesla shares pop as Trump claims victory

2024-11-07 00:00:00

Tesla shares surged 12 per cent in premarket trading on Wednesday as Republican Donald Trump claimed victory in the US presidential race against Democratic Vice President Kamala Harris, reports Reuters.The electric-vehicle maker's billionaire CEO, Elon Musk, has been an outspoken...

EU opens antitrust probe into US mobile phone glass maker

2024-11-07 00:00:00

BRUSSELS, Nov 06 (AFP): The European Union (EU) said on Wednesday it has opened an antitrust investigation into US glass producer Corning -- the maker of a break-resistant glass used as display cover in tablets and smartphones.The probe will assess...

Saudi cabinet approves framework to boost foreign direct investment

2024-11-07 00:00:00

RIYADH, Nov 06 (Arab News): The Saudi Cabinet has initially approved the national general framework and guiding principles for foreign direct investment, setting the stage for enhanced economic engagement with international organizations.The session, chaired by Crown Prince Mohammed bin Salman,...

Strong demand revives India services PMI in October

2024-11-07 00:00:00

BENGALURU, Nov 06 (Reuters): Growth in India's dominant services industry picked up last month after dipping to a 10-month low rate in September amid a marked expansion in demand, according to a business survey that also showed the sector's workforce...

US Supreme Court to hear Facebook bid to escape securities fraud suit

2024-11-07 00:00:00

WASHINGTON, Nov 06 (Reuters): The US Supreme Court is set on Wednesday to consider a bid by Meta's Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the...

Facing tariff threat, Europe eyes options to appease Trump

2024-11-07 00:00:00

BRUSSELS, Nov 6 (Reuters): The European Union is considering options to appease Donald Trump on his return to the White House as it braces for a resumption of US tariffs and other trade threats plus tough exchanges on how to...

PRIME ISLAMI LIFE HOLDS 24TH AGM

2024-11-07 00:00:00

Prime Islami Life Insurance Limited held its 24th Annual General Meeting at Bangalmotor in Dhaka on Wednesday. Chairman of the company Mohammad Akhter presided over the meeting. Members of the board of directors and Shari'ah Council, and CEO Md Shamsul...

SHELTECH PROPERTY FAIR BEGINS IN CITY

2024-11-07 00:00:00

Sheltech (Pvt.) Ltd has organised a month-long 'Sheltech Property Fair 2024' that began at its head office at Sheikh Russel Square, West Panthapath, in the capital on November 1. It will continue until November 30 and is open from 10:00am...

Sonali Bank sign agreement with Prime Bank

2024-11-07 00:00:00

Sonali Bank PLC signed an agreement with Prime Bank PLC to collect chalan, utility bill, pension scheme instalments and various charges and fees from Prime Bank customers via mobile app and internet banking portal by using Sonali Payment Gateway service....

SOUTHEAST BANK ORGANISES CONFERENCE on Money Laundering

2024-11-07 00:00:00

Southeast Bank recently organised the Branch Anti Money Laundering Compliance Officer (BAMLCO) Conference-2024 at the bank's head office. Mr. A. K. M. Ehsan, executive director, was present at the conference as the chief guest. He in his speech emphasised on...

ISLAMI BANK OPENS BRANCH IN BARGUNA

2024-11-07 00:00:00

Islami Bank Bangladesh inaugurated its 396th branch in Barguna's Pathorghata on Wednesday. Md Atlaf Hossain, additional managing director of the bank, inaugurated the branch as the chief guest. Md Shamsuddhoha and A.K.M Mahbub Morshed, senior executive vice presidents of the...

New executive committee of Advertising Agencies Assoc

2024-11-07 00:00:00

The Advertising Agencies Association of Bangladesh (AAAB) has formed its new seven-member executive committee, with Sanaul Arefeen as its president and Syed Ahsanul Apon as general secretary, says a statement. Other office-bearers include Nazim Farhan Chowdhury -- vice-president, Sarah Ali...

Japan keen to strengthen economic ties with BD

OUR CORRESPONDENT | 2024-11-07 00:00:00

CHATTOGRAM, Nov 06: The Chittagong Chamber of Commerce and Industry (CCCI) held a view-exchange meeting with Japanese Ambassador to Bangladesh IWAMA Kiminori at the World Trade Centre (WTC) in the port city on Wednesday.Addressing the meeting, Kiminori said Chattogram was...

NCC Bank elects chairpersons for two committees

2024-11-07 00:00:00

Khairul Alam Chaklader was recently elected as the chairman of National Credit and Commerce (NCC) Bank's executive committee by its board of directors. He is currently the director and was a former vice chairman of the bank.Meanwhile, Meer Sajed-Ul-Bashar FCA...