Asia-Pacific shares up

Asia-Pacific shares mostly rose on Friday as traders look ahead to the US May jobs report, with Hong Kong's Hang Seng index trading as high as 4 per cent and leading gains in the wider region, reports CNBC.The consumer and...

Ten firms account for 25pc of weekly turnover

Ten most-traded firms accounted for one-fourth of the turnover on the Dhaka Stock Exchange (DSE) in the outgoing week, with Intraco Refueling Station dominating the turnover list.The Intraco Refueling Station topped the market turnover chart as investors chased its shares,...

Stocks rally for fourth straight week on buying spree

Stocks extended their rally for the fourth straight week to Thursday, as smart investors continued to put fresh bets on lucrative shares in anticipation of quick gains amid optimism around the budget which was placed in parliament on the last...

BANGLADESH COMMERCE BANK'S LOAN RECOVERY CAMPAIGN

Bangladesh Commerce Bank Limited has inaugurated 'Top 20 default borrower recovery campaign'. Chairman of the bank's Board of Directors Prof Dr. Engr. Rashid Ahmed Chowdhury was present as the chief guest while Managing Director and CEO (CC) Dr Md Abdul...

IBBL LAUNCHES SPECIAL CAMPAIGN

Islami Bank Bangladesh Limited launched a month-long special campaign titled 'Smart Banking towards Excellence in Asset Quality' on Thursday. Mohammed Monirul Moula, Managing Director and CEO of the bank, inaugurated the campaign as the chief guest at Islami Bank Tower....

BIBM unveils two books

The Bangladesh Institute of Bank Management (BIBM) has unveiled two books titled 'Financing Public and Private Partnership in Bangladesh' and 'Case Studies in Credit Operation and Management in Banks', reports BSS.Ahmed Jamal, chairman, BIBM Executive Committee and deputy governor of...

Govt sets 7.5pc growth target

The government has set an ambitious 7.5 per cent economic growth target for the next fiscal year (FY), 2023-24, despite various internal and external macro-economic headwinds. The Gross Domestic Product (GDP) growth target is 1.47 percentage points higher than the...

Tax waiver on 425 import items

The government has waived import taxes on a total of 425 products, including fish and ready-made garment, in a bid for dependencies from import taxes to phase out.In the budget proposal for fiscal year 2023-24, finance minister AHM Mustafa Kamal...

Budget eyes equality-based society with $12,500 per capita income

The proposed budget for the fiscal 2023-24 has projected to establish a society based on justice and equality under 'Smart Bangladesh' by the year 2041 when most of the economic indicators will be favourable including per capita income of at...

More competitive industrial and commercial sectors needed for post-LDC era

The government is considering taking necessary initiatives to make the country's industrial and commercial sectors more competitive aiming to cushion possible external shocks to such sectors in the post LDC (least developed country) era, the finance minister said.Finance Minister AHM...

Ctg biz leaders laud budget

CHATTOGRAM, June 02: Business leaders in Chattogram have largely expressed their support for the proposed national budget for the 2023-24 fiscal year, considering it a pro-development measure that will contribute to transforming Bangladesh into a smart country. The Chittagong Chamber...

Bangladesh moves four notches up, ranks 89th

Bangladesh has moved four notches up to 89th position in the latest edition of an index that analyses the global startup ecosystem.In the category of the city, the country's capital Dhaka also improved its position by 115 notches to secure...

Financing a decent public transport system

The bus-dependent chaotic public transport in the country, especially in the city of Dhaka, is a curse for the hundreds and thousands of commuters. Inadequate public buses and minibuses with defaced and wornout exteriors and terrible interiors like narrow accesses...

Implementation remains a big problem

One of the major issues that has held back the government's desire to get things done every fiscal year (FY) is the lacklustre performance (in terms of implementation) of the various agencies when it comes to achieving development goals. This...

Budget for FY'24: Not up to task of meeting challenges

The budget placed by Finance Minister AHM Mustafa Kamal in Parliament for the next financial year (FY) amidst applause and table-thumping by the ruling party and like-minded lawmakers last Thursday contains lofty goals, but it lacks clear strategies to achieve...

G7 Summit, loose leadership and 'cries of the wolves'

Meeting in an atomic bombed city, the G7 Summit ominously warned Russia not to resort to nuclear weapons in Ukraine. Ironically, before that bomb was dropped on September 6, 1945, a retreating Japan even discussed peace with the Soviet Union...

Solution to plastic pollution

'World Environment Day' is observed every year on June 5th. The theme of this year's Environment Day is 'solution to plastic pollution'. Plastic is a very important and widely used material in today's world. Plastic is one of the essential...

Merit of work from home but not suitable for all

Office work from home was once anathema to not only employers but also to most employees. But under pressure to meet deadlines, even people in responsible positions had to carry files home and burnt the midnight oil. But that is...

The colours, and feelings, of evenings and mornings

The fast impending evening makes many feel sad. By sunset they are drained of all their positive thoughts. A sense of doom overtakes many sensitive people if they happen to be in a secluded place. Perhaps in accordance with this,...

Tk 7.62tn budget for FY ‘24 unveiled

Chapter OneTribute In the name of Allah, the Most Gracious, the Most Merciful. Blessed be He In Whose hands Is Dominion; And He over all things Hath Power. Madam Speaker Hail to the protagonist emerging from river/ at dawn/ Hail...

Source tax remains unchanged

The source tax on export proceeds has remained unchanged in the proposed budget for the upcoming fiscal despite the fact that exporters, including readymade garment industry, have been demanding the lowering of the rate. Neither the finance bill nor the...

Pay carbon tax for another car

The budget for fiscal year 2023-24 has proposed 'carbon tax' for the first time for the taxpayers who own more than one motor vehicle.According to the proposed Finance Bill, carbon tax ranging from Tk 25,000 to Tk 0.35 million has...

Mobile handsets get costlier

Mobile handsets are getting costlier as the government has decided to impose a value-added tax (VAT) of up to 7.5 per cent on locally manufactured and assembled mobile phones, based on their status. The national budget for the 2023-24 fiscal...

Govt raises land transfer tax rates

The government has raised the rate of tax by around 100 per cent on transfer of per khata (1.65 decimal) of land and building located in commercial and other areas.To this effect, the National Board of Revenue (NBR) issued a...

BERC cuts LPG prices by 13pc

The Bangladesh Energy Regulatory Commission (BERC) slashed liquefied petroleum gas (LPG) prices by 13 per cent on Thursday for selling the fuel to clients by private operators in June. The country's private operators will now charge Tk 1,074 for each...

Tax-free ceiling rises to Tk 40m

The fiscal year (FY) 2023-24 budget has offered a benefit for well-off people through raising their tax-free limit for wealth surcharge.The limit for surcharge has been proposed to be raised to Tk 40 million from existing Tk 30 million.According to...

Universal pension scheme rollout expected next FY

Finance Minister AHM Mustafa Kamal said the universal pension scheme is likely to come into effect in the next fiscal year.The work on intruding the scheme has progressed substantially, he said in his budget speech on Thursday."I hope, it will...

Budget share of broader agriculture cut to 5.7 pc

Share for the broader agricultural sector, including crop, fisheries, livestock, farm subsidy and incentives, has been reduced to 5.73 per cent in term of total outlay of the next budget (FY'24) from 6.19 per cent in the proposed budget for...

Accommodative policy to fix volatility will stay: Kamal

The government will continue with its cautious and accommodative policy to tackle instability in balance of payments (BoP) and foreign-exchange reserves in fiscal year (FY) 2023-24.On the other hand, the central bank, as part of the government's plan to remove...

Inflation target set at 6pc for FY24

Although Finance Minister AHM Mustafa Kamal has considered inflation control as one of the big challenges, he wants to keep already-runaway price increases within a 6.0-per-cent limit in the next fiscal year with no brand-new strategy."The adjustment of fuel prices...