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Fiscal measures may hit real estate, construction sector hard

SAIF UDDIN | 2025-06-05 00:00:00

Several fiscal measures outlined in the proposed national budget for FY 2025-26 could severely impact the country's real estate and construction sector, which is already grappling with rising costs and declining demand, industry insiders have warned.As per the proposed budget,...

Russia's oil, gas budget revenue falls by a third in May

2025-06-05 00:00:00

MOSCOW, June 4 (Reuters): Russia's oil and gas revenue fell by 35 per cent year-on-year in May to 512.7 billion roubles ($6.55 billion), data from the finance ministry showed on Wednesday, as weakening oil prices and sanctions weighed on the...

China's rare earth export curbs hit Europe's auto industry

2025-06-05 00:00:00

BERLIN/FRANKFURT, June 4 (Reuters): Some European auto parts plants have suspended output and Mercedes-Benz is considering ways to protect against shortages of rare earths, as concerns about the damage from China's restrictions on critical mineral exports deepen.China's decision in April...

Gold holds ground as jobs data offsets safe-haven demand

2025-06-05 00:00:00

Gold prices held steady on Wednesday as stronger US jobs data countered safe-haven demand driven by simmering trade tensions between the US and China, reports Reuters.Spot gold was steady at $3,349.19 an ounce, as of 1145 GMT. US gold futures...

Oil steady as OPEC+ hikes output while wildfires curb Canadian supply

2025-06-05 00:00:00

LONDON, June 4 (Reuters): Oil prices held steady on Wednesday amid global trade tensions and as ongoing OPEC+ output increases were offset by a hit to Canadian supply from wildfires.Brent crude futures inched 2 cents lower to $65.61 a barrel...

Saudis use AI, drones, cameras to keep hajj pilgrims safe

2025-06-05 00:00:00

MECCA, , June 4 (AFP): Working day and night in front of maps, screens and seemingly endless data, Saudi officials have harnessed artificial intelligence to help manage the million-strong sea of pilgrims during the hajj.The technology has proven pivotal to...

Ex-Nagad MD Tanvir sued

2025-06-05 00:00:00

The Anti-Corruption Commission (ACC) has prosecuted former Nagad managing director Tanvir Ahmed Mishuk and eight other top officials for allegedly embezzling Tk 6.45 billion over a period of nearly four years, reports bdnews24.com.

Trains, buses, launches packed with homebound travellers

FE REPORT | 2025-06-05 00:00:00

As Eid-ul-Azha approaches, a familiar rhythm has returned to the capital - trains humming out of the city, buses packed to the brim, and launches leaving Dhaka's shores under a dusky sky. On Wednesday, thousands of people began their long-awaited...

Mujibnagar govt leaders were FFs: Adviser

2025-06-05 00:00:00

Reports indicating that the interim government had revoked the "freedom fighter" status of Bangabandhu Sheikh Mujibur Rahman, the four national leaders, and other members of the administration that coordinated the 1971 war effort, popularly known as Mujibnagar government, are wide...

Conventional, devoid of parties, people's opinions: BNP

FE REPORT | 2025-06-05 00:00:00

Calling the interim government's maiden budget conventional, the BNP on Wednesday said the proposed budget for the 2025-26 fiscal year was placed without the opinions of political parties and the people.BNP Standing Committee member Amir Khasru Mahmud Chowdhury said this...

Few measures may raise business costs, deter investment: ICAB

FE REPORT | 2025-06-05 00:00:00

Chartered accountants on Wednesday raised concerns that several proposed fiscal measures in the FY26 budget may lead to higher costs for businesses and reduced private-sector investment, especially amid the ongoing economic uncertainties.At a press conference held at its office in...

FICCI fears extra tax burden on individuals and businesses

FE Report | 2025-06-05 00:00:00

The Foreign Investors' Chamber of Commerce and Industry (FICCI) has expressed its mixed reactions on the proposed national budget for fiscal year (FY) 2025-26.It hailed the government for its intentions towards reforms and fiscal consolidation in the proposed budget that...

Call money rate holds steady before Eid as banks tap BB support

SIDDIQUE ISLAM | 2025-06-05 00:00:00

On the eve of the long Eid-ul-Azha holiday, Bangladesh's inter-bank call-money market showed signs of stability, with banks successfully managing their liquidity needs, thanks in part to timely support from the central bank.The weighted average rate (WAR) of call money...

Prayer Timings (2025-06-05)

2025-06-05 00:00:00

Holiday Notice_2025-06-05

2025-06-05 00:00:00

The offices of The Financial Express (FE) will remain closed on June 05-June 09 (Thursday-Monday) on the occasion of Holy Eid-ul-Azha. Therefore, there will be no issue of the FE on June 06-June 10 (Friday-Tuesday).The online section of the newspaper...

Govt rethinks mandatory tax proof for 12 services

JASIM UDDIN | 2025-06-05 00:00:00

Mandatory furnishing of Proof of Submission of Return (PSR) for securing a plethora of services as a measure of boosting government revenues is being derogated for certain service deliveries to remove unwanted hurdles.The initial move to mandate PSR played a...

Opinions on FY 26 budget till Jun 19

FE REPORT | 2025-06-05 00:00:00

The government will receive public opinion and suggestions on the proposed FY26 budget until June 19.After incorporating the acceptable opinions and suggestions, the cabinet will approve the budget on June 22, Finance Adviser Dr Salehuddin Ahmed told reporters Wednesday after...

Anticipation rife about Yunus-Tarique meet

FE REPORT | 2025-06-05 00:00:00

Speculations run high about a chance meeting between Chief Adviser Prof Muhammad Yunus and long-exiled BNP acting chairperson Tarique Rahman during the UK visit of the head of interim government. Chief Adviser Yunus is scheduled to visit the United Kingdom...

Disappearances probe confirms 1,350 cases, may surpass 3,500

FE REPORT | 2025-06-05 00:00:00

Disappearances probe has confirmed 1,350 cases and anticipates the figure of missing to surpass 3,500-many having no hope of return, officials say. According to the second interim report of the Commission of Inquiry on Enforced Disappearances, the intelligence wing of...

Unblocking payments, shareholder dividends ignites investment zeal

ISMAIL HOSSAIN | 2025-06-05 00:00:00

A faster coordinated action by the interim government resolving several longstanding issues of payment obligations and shareholder dividends with three prominent multinational corporations in order to ease foreign-investment facilities in Bangladesh regenerates investment vibes. Industry stakeholders assert that such decisive...

Eid-ul-Azha on June 7

FE REPORT | 2025-06-05 00:00:00

All are agog for the fiesta as Eid-ul-Azha, the second- biggest religious festival of the Muslims, will be celebrated across the country on June 7 (Saturday).The decision was made earlier at a meeting of the National Moon Sighting Committee at...

Turning tradition into innovation

Shezan Shams | 2025-06-05 00:00:00

In Bangladesh, gold has always been more than a shimmering metal - it has an emotional connection. From a bride's cherished wedding gift to a family's quiet safety net, gold represents prosperity, pride and permanency. As the country's economy has...

Unlocking the secrets of monthly compounding

Md Rashed Akter | 2025-06-05 00:00:00

When it comes to building wealth, the loudest voices often talk about working harder, hustling more, or chasing the next big investment. But what if the real secret to financial success wasn’t working harder—but working smarter? One of the most...

Rickshaw pullers deserve better

2025-06-05 00:00:00

Rickshaw pullers in Bangladesh face a daily struggle for survival. Despite their vital contribution to urban transport, especially in congested cities like Dhaka, they remain one of the most neglected segments of our workforce. Low earnings, debt to rickshaw owners,...

Treating sacrificial animals with compassion

2025-06-05 00:00:00

As Eid-ul-Azha approaches, the rush to buy sacrificial animals has begun across the country. The vibrant scenes of cows, goats, sheep, and camels in the markets reflect the devotion of the Muslim Ummah to follow the Sunnah of Prophet Ibrahim...

Achieving the ambitious revenue target

Atiqul Kabir Tuhin | 2025-06-05 00:00:00

The proposed budget for the fiscal year 2025-26, amounting to Tk 7.9 trillion, marks a significant shift in Bangladesh's fiscal objectives: moving away from grand development narratives towards pragmatic restraint and people-centric welfare. While rolling out the budget on Monday,...

Celebrating Eid-ul-Azha in its true spirit

2025-06-05 00:00:00

Eid-ul-Azha, the second of the two great festivals of the Muslim Ummah, is primarily a festival of sacrifice. But this festival assumes a unique spiritual significance with the performance of hajj scheduled for the 10th day of the twelfth and...

Choking on plastic: the planet's invisible epidemic

Babui Salsabil | 2025-06-05 00:00:00

As we welcome another World Environment Day, we are once again reminded of our fragile connection to the planet we call home. It’s a moment to take stock – not just of vanishing forests or warming seas – but of...

The bizarre charm of conspiracy theories

Syed Badrul Ahsan | 2025-06-05 00:00:00

There is a certain pleasure in studying conspiracy theories. Much of the pleasure stems from the thought that in some people it is the imagination which works overtime, allowing them to indulge in fantasies we can only marvel at. Verily...

Fernandes rejects Saudi move to stay at Man Utd

2025-06-04 00:00:00

LONDON, June 03 (AFP): Bruno Fernandes has reportedly rejected a huge offer to leave Manchester United for the Saudi Pro League, opting to be part of Ruben Amorim's rebuild at Old Trafford. Reports said Al Hilal were willing to pay...