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Search results for: economy

Matia slams tax hike on savings certificate

-- June 20, 2019 22:26:53

Former Agriculture Minister and Matia Chowdhury on Thursday strongly criticised the proposal for increasing tax at source on family savings certificate from five per cent to 10 per cent in the propose...

'2.57 million people are working in RMG sector'

-- June 20, 2019 18:21:39

Around 2.57 million people are currently working in the country’s readymade garments (RMG) sector. State Minister for Labour and Employment Begum Monnujan Sufian gave the information while repl...

Indonesia plans more tax breaks to lift GDP growth

-- June 20, 2019 13:19:49

Indonesia plans to cut several different taxes to boost investment and accelerate economic growth, its finance minister said on Wednesday. Southeast Asia’s largest economy in the Q1 expanded 5....

RBA flags rate cut, market bets on July

-- June 20, 2019 13:08:06

A top RBA official has said a recent cut in interest rates would not be enough to revive economic growth, an unusually blunt declaration that led markets to narrow the odds on another easing as early...

IMF seeks clarification of 'wilful defaulters'

Siddique Islam June 20, 2019 09:23:30

The International Monetary Fund (IMF) has expressed interest to know about the definition of wilful loan defaulters, which will be used for identifying them legally. The visiting IMF mission's intere...

Bangladesh fastest economy in Asia-Pacific: ADB

-- June 19, 2019 21:24:58

Bangladesh has achieved the fastest growth in the Asia-Pacific economies comprised of 45 countries, according to the Asian Development Bank (ADB).  In the outgoing fiscal year of 2018-19, the AD...

Inflation up in May

FE Report June 19, 2019 11:41:20

The point-to-point inflation in the month of May last was recorded higher than that of the previous month, according to official data. It was 5.63 per cent in May compared to 5.58 per cent in April,...

BRI can speed development, needs transparency: WB

-- June 19, 2019 11:02:22

China’s Belt and Road Initiative (BRI) could speed up economic development and reduce poverty for dozens of developing countries, the World Bank has said in a report. The global lender said thi...

New VAT act to up prices of goods: PwC

FE Report June 19, 2019 10:18:45

The new VAT law, to be effective from next month (July), will cause price hike of commodities at consumer level, the PricewaterhouseCoopers (PwC) has said. According to the new law, the products payi...

Biggest revenue target ‘challenging’ on exemptions

FE Report June 19, 2019 09:21:54

Achieving the 'biggest' revenue target would be a challenging task with so many tax exemptions proposed in the budget, the revenue board chief said on Tuesday. He said a Tk 3.25-trillion revenue targ...

New VAT law: Amendments necessary to align with global best practices

Pulak Saha, Prabir Mitra, Dibyendu Das and Shahadat Hossain June 18, 2019 21:11:50

The government has finally notified that the new VAT law (VAT and Supplementary Duty Act, 2012 and Rules 2016) will go into effect from July 01, 2019. Consequent upon this, all rules, orders, statutor...

Indonesia central bank likely to hold key rate

-- June 18, 2019 13:39:35

Bank Indonesia (BI), the central bank of the country, is expected to keep its benchmark interest rate steady at a policy review on Thursday, a Reuters poll showed. The poll also said that the BI may...

Economist says budget brushes aside banking malaise

FE Report June 18, 2019 09:44:27

Former finance advisor Dr A B Mirza Azizul Islam expressed on Monday his dissatisfaction over the poor attention the budget paid to address the banking sector problems. "I am extremely disappointed a...

Businesses seek upper tax-free ceiling for individuals

Doulot Akter Mala June 18, 2019 09:30:27

The budget proposal to keep the tax-free limit for individual taxpayers unchanged has evoked mixed reactions among business people and economists. Businesses wanted the ceiling to be adjusted with in...

No liquidity crisis in banking sector: PM

-- June 17, 2019 18:41:28

Prime Minister Sheikh Hasina on Monday told Parliament that there is no liquidity crisis in the banking sector insisting that certainly there is money in banks. “It’s said there’s n...

Parliament passes supplementary budget for FY19

-- June 17, 2019 18:27:42

The parliament has passed the supplementary budget of over Taka 151.66 billion for the outgoing 2018-19 fiscal to meet the increased expenditures under different ministries and divisions. Finance Min...

India could benefit from US-China trade war: Study

-- June 17, 2019 15:27:27

The ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries, according to a study. The...

SoEs on track to rack up Tk 56b losses next fiscal

FE Report June 17, 2019 09:54:01

The government said state-owned enterprises (SoEs) will incur a loss of Tk 56.7 billion in the next fiscal year, accentuated by rising price of fuel in the international market. The forecast is highe...

IMF mission sounds alarm as banks' stressed assets soar

Siddique Islam June 17, 2019 09:40:27

The International Monetary Fund (IMF) has expressed concern over the rising trend in stressed assets in the banking sector. The Washington-based lender recommended that the quality of assets should b...

Tax on retained earnings: Listed cos fear stunted growth

Mohammad Mufazzal June 17, 2019 09:35:43

A total of 209 listed companies will have to pay an additional Tk 107.92 billion if the proposed 15 per cent tax on 'reserves and retained earnings' is implemented. Officials concerned said a large n...

Country devising ways to offset cash incentives withdrawal

Syful Islam June 17, 2019 09:27:39

The ministry of commerce is devising a mechanism on how to keep the country's export sector competitive without providing cash incentives in the post-LDC era, officials said. The idea is being worked...

New budget frustrates RMG accessories makers

FE Report June 16, 2019 10:22:24

Garment accessories makers have urged the government to provide them with equal budgetary facilities as proposed for the country's readymade garment (RMG) sector. Bangladesh Garments Accessories an...

'NBR needs extensive reform to boost its capacity'

FE Report June 16, 2019 09:59:36

Planning minister MA Mannan said on Saturday the National Board of Revenue (NBR) needs extensive reforms to boost its capacity as the national tax body. He, however, said the much-needed transformati...

Capital market: Budgetary measures draw mixed reaction

Mohammad Mufazzal June 16, 2019 09:43:44

The market operators and experts have expressed their mixed reaction to the measures announced for the country's capital market in the budget proposed for the fiscal year (FY) 2019-20. Hailing the pr...

Govt reliance on savings tools faces huge cut

FHM Humayan Kabir June 16, 2019 09:25:52

The government has targeted cutting its borrowing target from the national savings certificates(NSC) by 42 per cent in the next three fiscals aimed at reducing fiscal risk, according to official docum...

US needs to heed China's call to return to trade talks

Global Times June 15, 2019 17:24:50

If the Trump administration continues its condescending attitude toward China while refusing to take Beijing as an equal negotiating partner and to make long-overdue compromises on China's legitimate...

FBCCI welcomes scope for whitening black money

-- June 15, 2019 16:18:01

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has welcomed the black money whitening facility in the proposed budget national budget for the 2019-20 fiscal year. The apex tra...

Gono Forum rejects budget

-- June 15, 2019 15:13:19

Gono Forum on Saturday turned down the national budget for 2019-20 saying it has been formulated to protect the interest of a handful of businesspeople and politicians ignoring people. "This is no...

IMF mission to visit Bangladesh on June 16-27

Siddique Islam June 15, 2019 10:40:49

A mission of the International Monetary Fund (IMF) is scheduled to visit the country from June 16 (tomorrow) to June 27 to review the overall macro-economic situation. The IMF Article IV Consultati...

It doesn't matter if China's Xi attends G20: Trump

-- June 15, 2019 10:33:41

US President Donald Trump said “it doesn’t matter” if Chinese leader Xi Jinping attends the Group of 20 summit later this month in the Japanese city of Osaka, predicting a trade deal...