Economy

New budget commutes trade penalties, cuts essentials’ taxes

New budget commutes trade penalties, cuts essentials’ taxes

Multiple trade-facilitation measures like corporate-tax variables to promote capital market, commuting penalties for trade offences and cut-down tax rates for pharmaceuticals and other essentials are envisaged in the new budget. The current interim government is set to cut corporate tax fo

Bangladesh Bank to release new notes from June 1

Bangladesh Bank to release new notes from June 1

Bangladesh Bank (BB) has taken an initiative to release a new series of banknotes across all denominations (Tk 1,000, Tk 500, Tk 200, Tk 100, Tk 50, Tk 20, Tk 10, Tk 5, and Tk 2) under the theme “Historic and Archaeological structures of Bangladesh.” As part of the initiative, the cent

Banks still shy away from spot market forex trade

Banks still shy away from spot market forex trade

Commercial banks still go slow in trading foreign exchange (forex) in the interbank spot market even during the current free-floating regime, which is increasing their net open position (NOP) significantly. Complying with a condition of the International Monetary Fund (IMF) given as part o

Maiden mango export to China initiates export diversification

Maiden mango export to China initiates export diversification

Bangladesh Wednesday sent the maiden consignment of mangoes to China to open wider avenues of diversifying its export basket and enhance its trade on the vast market, officials said. Commerce Adviser of the interim government Sheikh Bashir Uddin and Chinese Ambassador in Bangladesh Yao Wen inaugura

Climate disasters erode up to 2pc of Bangladesh’s GDP

Climate disasters erode up to 2pc of Bangladesh’s GDP

Bangladesh incurs an annual GDP loss of 1–2% due to climate change-induced disasters such as floods, droughts, cyclones, tidal surges and heatwaves. Despite limited resources, the government has been implementing numerous initiatives to address these challenges. However, long-term, sustaina

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