Chairman of the Financial Reporting Council (FRC) Professor Hamid Ullah Bhuiyan has said no bank in the country follows International Accounting Standards or International Financial Reporting Standards (IFRS) in preparing financial statements. Due to this, the actual picture of the financial healt
The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Tk 1.96 trillion. The revenue collection by the NBR during the same period of the
Collection of value-added tax (VAT) registered a hefty growth of about 15 per cent in the first eight months to February of the current fiscal year (FY) over the same period of last FY, largely contributed by domestic consumption of goods. The VAT wing of the National Board of Revenue (NBR) mobili
Bangladesh is updating the consumer inflation index with lot many goods and services in count, with 2021-22 as new base year, as price rises have upset indices locally and globally. Officials say the updated gauge to measure inflation is likely to be launched next fiscal year, beginning in July, a
Foreign Minister Dr AK Abdul Momen, on Sunday, called upon the international community to continue providing trade facilities to the countries who have graduated from the LDC status. Addressing the 25th founding anniversary celebration programme of the Diplomatic Correspondents’ Association
The average daily transaction of mobile financial service (MFS) has crossed Tk32 billion and its volume shows a growing trend, said the latest report of Bangladesh Bank (BB). Analysing the data of 13 MFS in the country the BB report said that MFS gets popular in Bangladesh due to convenient transa
Higher tariffs and para-tariffs to protect the import-competing local manufacturing sector has been discouraging investment into the country's non-RMG sector, defying export diversification efforts, according to a new research. Differential domestic and export sales standards and lack of export in
The government gets tightfisted in framing the annual development programme (ADP) for the next fiscal as a prolonged global economic crisis gives it limited choice in spending, officials said. In an order the Planning Commission (PC) has asked all ministries to avoid taking fresh projects and keep
The 4th session of the Russia-Bangladesh Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) – the key mechanism for bilateral economic relations – was held via video conference recently. The Russian delegation was led by the Head of the Federal
Over half of the Chief Executive Officers (CEOs), mostly of private companies, in Bangladesh fear inflation, macroeconomic volatility and geopolitical tensions to stay as top threats to their business growth over next 12 months. In ratings, inflation in domestic and global economies stands as the
Bangladesh has the potential to raise its readymade garment (RMG) export earnings to US$11 billion to the UK by 2030 as the country will continue to get duty-free market access after LDC graduation. Bangladesh earned US$4.5 billion from RMG exports to the UK in the last fiscal year which could be
Aggregate government debt liabilities snowballed to approximately Tk 13.60 trillion as of last December, according to latest official data on borrowings from internal and external sources for deficit financing. The increase in current fiscal's first-half debt burden was Tk. 0.22 trillion. In perc
Latin America-Bangladesh Chamber of Commerce & Industry (LABCCI) signed a Memorandum of Understanding (MoU) with Bangladesh Investment Development Authority (BIDA) at its office at Agargaon area in Dhaka on Wednesday. Executive Chairman of BIDA, Lokman Hossain Miah, Senior Secretary was present as
