Economy

Global economy to slow down but likely avoid recession in 2024

Global economy to slow down but likely avoid recession in 2024

Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world's two largest economies. The global economy is forecast to grow 2.9 per cent this year, a Reuters poll showed, with next year's growth seen

NBR to address flaws in new income tax law

NBR to address flaws in new income tax law

The National Board of Revenue (NBR) has taken initiatives to address the flaws identified in the new Income Tax Act 2023 for the greater interest of the people. "After sitting and consulting with relevant stakeholders, the new law was enacted. Despite our efforts, some loopholes may have been over

Dollar depreciation stokes forex fears

Dollar depreciation stokes forex fears

Yet another appreciation of the local currency against the US dollar surprises money-market analysts who see the cuts in exchange rate as 'artificial', not driven by market dynamics. Raising question over frequent depreciation of the greenback at a time when Bangladesh's foreign-currency reserves

BB withdraws spread limit in loan-deposit

BB withdraws spread limit in loan-deposit

Bangladesh Bank has decided to remove the restriction on the interest spread between loans and deposits. In a circular issued on Wednesday, banks were notified that by determining interest rates according to market conditions, it is now feasible to curb unregulated increases in interest rates. Uti

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