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Search results for: economy

NBR to phase out truncated-base VAT in two years

FE Report August 26, 2017 13:10:09

The tax authority is in a process to gradually phase out the truncated-base of Value Added Tax (VAT) within the next two years before implementation of the new VAT and Supplementary Duty (SD) act-2012...

Internet banking transactions jump by 40pc in FY17

FE Online Report August 26, 2017 12:31:26

Annual transaction of the country’s internet banking in the past fiscal year (FY17) posted a robust 40 per cent growth over the previous fiscal year (FY16).   Latest statistics of the c...

Germany Q2 GDP grows 0.6pc

-- August 25, 2017 20:38:55

The German economy grew by 0.6 per cent in the second quarter of 2017, helped by private consumption and state spending, data showed on Friday.   Confirming a preliminary reading for growth, th...

Muhith asks PSB to help change rural poor’s lot

FE Report August 25, 2017 20:33:38

Finance Minister AMA Muhith inaugurated on Thursday the online banking activities of Palli Sanchay Bank (PSB), with a call to help upgrade the financial condition of rural people.   He launch...

'Bangladesh working for achieving SDGs'

-- August 24, 2017 15:55:31

Bangladesh is now working to achieve the Sustainable Development Goals (SDGs), says the speaker. “Bangladesh has made significant marks in socio-economic development indicators .... And the coun...

Bangladesh risks 'devastating' hunger after major floods:UN

-- August 24, 2017 11:11:04

As food aid rolls out to more than 200,000 people in flood-hit Bangladesh, the United Nations said on Wednesday that long-term food supplies were at risk with so much farmland now ruined. Flooding,...

'Foreign aid inflow in July encouraging'

-- August 22, 2017 16:13:26

The foreign aid inflow to Bangladesh during the first month (July) of the current fiscal year was a bit encouraging as the aid disbursement during the last month was $242.3 million higher than the cor...

Passengers handling capacity of Dhaka airport to double in 2022

-- August 22, 2017 06:39:05

Bangladesh has taken Dhaka International Airport expansion project. The expansion will help the airport to double its passengers handling capacity. The project includes the construction of a new term...

Bangladesh workers in Oman not getting salary timely

-- August 22, 2017 06:11:16

Bangladeshi workers in Oman haven’t been paid regularly for last one year, according to a report by http://timesofoman.com. “We are working, but we are not getting paid on time. Every two...

Recovering banking loans

Raihan M Chowdhury August 22, 2017 04:51:02

Alternative Dispute Resolution (ADR) mechanism will be a good tool to recover stuck-up loans as the existing legal procedure is very time-consuming and costly.   The volume of growing nonperfor...

Bangladesh to sell bandwidth to Myanmar, Cambodia, Vietnam, Bhutan

-- August 21, 2017 07:16:16

Bangladesh has taken an initiative to sell 100 GB/s bandwidth to four countries. The countries are Myanmar, Cambodia, Vietnam and Bhutan. To sell bandwidth to Bhutan, Bangladesh is now talking with I...

NBR finds flaws in tax returns

Doulot Akter Mala August 21, 2017 06:37:22

A much-vaunted review of all the income-tax returns submitted in last fiscal detected only less than one per cent mathematical errors, but scared many of the taxpayers.   Officials said taxmen...

Tax return scrutiny detects negligible faults

Doulot Akter Mala August 21, 2017 04:00:49

A much-vaunted review of all the income-tax returns submitted in last fiscal detected only less than one per cent mathematical errors, but scared many of the taxpayers.   Officials said taxmen...

Bangladesh produces 1.4m tonnes salts this year

-- August 20, 2017 06:11:23

Some 1.4 million tonnes of salt was produced in the country this year against the annual demand of 1.6 million tonnes, according to industries and commerce ministries. Salt industry is the largest...

HC clears way for realisation of 17 per cent holding tax by CCC

Our Correspondent August 19, 2017 06:28:39

The High Court (HC) has dismissed a writ petition that challenged the realisation of 17 per cent holding tax by the Chittagong City Corporation (CCC) as per the model tax schedule 2016 framed by the g...

NPLs jump 19pc in six months to June

Siddique Islam August 19, 2017 03:55:23

The volume of non-performing loans (NPLs) jumped by over 19 per cent or Tk 119.76 billion at the end of June this year from December closing last year, despite close monitoring by the central bank. T...

German building permits drop 7pc in H1

-- August 17, 2017 11:00:24

Residential building permits issued in Germany dropped 7.0 per cent on the year in the first six months of 2017, data showed on Thursday.   Germany, the largest national economic country of Eur...

Euro zone inflation stable in July

Reuters August 17, 2017 10:51:33

Inflation in the 19 countries sharing the euro currency remained stable in July, European statistics office Eurostat said on Thursday.   Core inflation metric excluding volatile energy costs an...

IRD limits size of income tax file audit

Doulot Akter Mala August 17, 2017 10:27:39

The Internal Resources Division (IRD) has issued a directive to audit maximum 25,000 income tax files of both individuals and corporate taxpayers to detect tax evasion and concealment of actual income...

Philippines Q2 GDP growth quickens

Reuters August 17, 2017 07:59:08

The Philippine economy grew at a sizzling pace in the second quarter, topping expectations as a government-led construction boom and an extended rebound in the farm sector took some of the sting off a...

Bangladesh to import 1.5m tones of rice

FE Report August 17, 2017 04:53:35

The government has decided to import 1.5 million tonnes of rice and 0.5 million tonnes of wheat to boost the stock.  The government has already struck deals with Vietnam and Cambodia to buy 0.25...

ADB loans set to be costlier

FHM Humayan Kabir August 17, 2017 04:18:48

The Asian Development Bank's (ADB's) loan to Bangladesh is going to be expensive in the coming years as it would provide nearly 86 per cent of its planned assistance from its hard window OCR, official...

Germany Q2 GDP edges up

Reuters August 15, 2017 08:05:59

The German economy grew by less than expected in the second quarter as net trade dampened an overall expansion which was driven by strong household spending. The rising state expenditure also affecte...

Malaysia economy to grow at 5.4pc in Q2

Reuters August 15, 2017 07:43:25

Malaysia's economic growth is expected to have slowed slightly in the second quarter as weaker private consumption partly offset a boost from resilient manufacturing and trade, a Reuters poll showed....

Delhi yet to confirm $4.5b third LoC

FHM Humayan Kabir August 15, 2017 03:36:09

India is yet to confirm its third line of credit (LoC) worth US$4.5 billion credit (LoC) despite Bangladesh's request for holding a meeting on this issue, officials concerned said Monday. Officials s...

Japan Q2 GDP rise 2-year-high

Reuters August 14, 2017 07:53:56

Japan's economy grew in the second quarter at the fastest pace in more than two years on stronger domestic demand. The Gross Domestic Product (GDP) rose as consumer spending and capital expenditure b...

NBR sets sleuths to detect tax-dodgers, money-launderers

FE Report August 14, 2017 03:49:51

The National Board of Revenue (NBR) set its three intelligence wings to detect tax-dodgers and money-launderers in a combat against such financial crimes. As per instructions issued Sunday by the go...

Bangladesh ship building industry earns $150m in 5 years

-- August 14, 2017 03:43:25

The ship building industry of the country earned $ 150 million of foreign exchange in last five years by exporting 40 ships to different countries. This was informed by managing director of Western...

BB starts impact study on offshore banking

Siddique Islam August 14, 2017 03:19:09

Bangladesh Bank (BB) has started conducting a study on possible impact of the offshore banking unit (OBU) operations if such functions are brought under the Banking Companies Act (BAC), officials said...

Quasi-fiscal activities breed budgetary, fiscal distortions

Jasim Uddin Haroon August 13, 2017 04:07:51

There exist numerous quasi-fiscal activities in the country which adversely impact the budget, sometimes creating financial distortions. Experts believe such factors also affect profitability of the...