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The Financial Express

Search results for: trade

Loan delinquency forces National Bank of Pakistan to close Bangladesh branch

Loan delinquency forces National Bank of Pakistan to close Bangladesh branch

-- 2021-03-05 16:09:58

The National Bank of Pakistan (NBP) is closing one of its Bangladesh branches after failing to recover nearly 98 per cent of its loans from debtors, the bank’s country head has said, reports ara...

Oil prices surge as OPEC+ extends output cuts into April

Oil prices surge as OPEC+ extends output cuts into April

-- 2021-03-05 13:11:22

Oil prices rose more than 1 per cent on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in...

'Bangladesh to become a regional automobile manufacturing hub by 2030'

'Bangladesh to become a regional automobile manufacturing hub by 2030'

FE REPORT 2021-03-05 11:44:39

The government has planned to turn Bangladesh into a regional automobile manufacturing hub by 2030, said Industries Minister Nurul Majid Mahmud Humayun on Thursday. "The export competitiveness of loc...

bdapps becomes national app store

bdapps becomes national app store

FE DESK 2021-03-05 11:13:02

State Minister for ICT Division Zunaid Ahmed Palak has declared bdapps (www.bdapps.com), the country's largest mobile application platform, as the national application store. The announcement was mad...

Bangladesh imports up by 11pc in 2021 from ACU states including India

Bangladesh imports up by 11pc in 2021 from ACU states including India

Siddique Islam 2021-03-05 10:54:31

Imports from the Asian Clearing Union (ACU) member countries increased by more than 11 per cent in the January-February period of this calendar year, officials said. The amount of ACU payment rose to...

Fish gets dearer in Dhaka, raising woes of commoners

Fish gets dearer in Dhaka, raising woes of commoners

FE REPORT 2021-03-05 10:52:58

Prices of different species of fishes witnessed a hike last week which traders attributed to a fishing ban in hilsa sanctuaries for the next two months. A surge in poultry meat prices also aided the...

Standard Chartered showcases one-stop banking solutions for NRBs in Dubai                

Standard Chartered showcases one-stop banking solutions for NRBs in Dubai               

-- 2021-03-04 21:54:01

Standard Chartered has recently showcased Swadeshi Banking, a one-stop suite of banking solutions, for non-resident Bangladeshis (NRBs) in Dubai. With Swadeshi Banking, Bangladeshi expatriates in Dub...

Evaly delivers super shop Shwapno’s product to 0.4m families

Evaly delivers super shop Shwapno’s product to 0.4m families

FE Online Desk 2021-03-04 21:50:33

Dhaka: Country’s top e-commerce marketplace evaly.com.bd has delivered the products of ' Shwapno' Super Shop to at least four lakh families in the country. These customers of Evaly, located in t...

PM stresses diversifying export items through research

PM stresses diversifying export items through research

-- 2021-03-04 16:25:30

Prime Minister Sheikh Hasina on Thursday urged researchers to conduct studies to diversify Bangladesh’s export products alongside modernising and mechanising the agriculture sector. “Rese...

Civil society calls for bringing domestic helps under labour law

Civil society calls for bringing domestic helps under labour law

FE Report 2021-03-04 10:52:25

Speakers at a view-exchange meeting on Wednesday called for bringing domestic workers under the labour law umbrella to ensure their rights and benefits. They also suggested updating the 'Domestic Wor...

Owners of private medical colleges demand lifting 15pc income tax

Owners of private medical colleges demand lifting 15pc income tax

FE Report 2021-03-04 10:36:38

Owners of private medical colleges on Wednesday urged the revenue authority to remove the existing 15 per cent income tax on the institutes, by considering those as non-profit organisations. They als...

Value added tax for storage, marketing of Covid-19 vaccines waived

Value added tax for storage, marketing of Covid-19 vaccines waived

FE REPORT 2021-03-04 09:19:10

The government has waived VAT (value-added tax) from all stages of post-import storage, marketing and distribution of Covid-19 vaccine. To this effect, the National Board of Revenue (NBR) on Wednesda...

National body meet fails to reach consensus on oil price issue

National body meet fails to reach consensus on oil price issue

ISMAIL HOSSAIN 2021-03-04 09:16:22

A meeting of the national price monitoring and fixing committee under the Bangladesh Trade and Tariff Commission (BTTC) on Wednesday could not come to a consensus on a proposal of price hike of soybea...

Tax holiday, fiscal support sought for small industries

Tax holiday, fiscal support sought for small industries

FE REPORT 2021-03-04 08:18:24

Bangladesh Chamber of Industries (BCI) has demanded fiscal support for the micro- and small-scale industries along with light engineering and agro-processing sectors to diversify the country's export...

Alibaba buys HungryNaki

Alibaba buys HungryNaki

FE Online Report 2021-03-03 23:17:29

E-commerce giant Alibaba has bought HungryNaki, a local food delivery company of Bangladesh. HungryNaki CEO AD Ahmed confirmed the sale to The Financial Express. Refused to provide any details, Mr A...

DCCI for widening tax net to revive economy

DCCI for widening tax net to revive economy

-- 2021-03-03 19:40:30

Dhaka Chamber of Commerce and Industry (DCCI) today (Wednesday) underscored the need for widening the tax net and ensuring automated tax system to recover the economy. The chamber made the emphasis w...

BTRC to auction unused spectrum on March 8

BTRC to auction unused spectrum on March 8

-- 2021-03-03 18:45:54

The Bangladesh Telecommunication Regulatory Commission (BTRC) will auction unused spectrum of two bands on March 8. Four mobile telecom operators will take part in the auction at Hotel InterContinent...

Saudi government still planning Aramco stake sell-down

Saudi government still planning Aramco stake sell-down

Reuters 2021-03-03 11:06:54

The chairman of Saudi Aramco said on Tuesday the kingdom’s government remains committed to selling down some of its stake in the state oil firm. “Once we see the market conditions improve...

Car importers demand adjusting tax rates of new, used vehicles

Car importers demand adjusting tax rates of new, used vehicles

FE Report 2021-03-03 10:05:50

Reconditioned car importers and dealers on Tuesday proposed that the revenue authority adjust tax rates of brand new and reconditioned cars in order to increase overall tax collection and safeguard...

Foreign investors insist on overhauling of VAT law

Foreign investors insist on overhauling of VAT law

FE REPORT 2021-03-03 08:21:39

The foreign investors on Tuesday accused the revenue board of not keeping its promise made at the time of formulating the new VAT law. The provisions of the law are not in keeping with the promises,...

Middlemen blunt tax waiver impact on prices of essentials

Middlemen blunt tax waiver impact on prices of essentials

DOULOT AKTER MALA 2021-03-03 08:07:19

Benefits of tax exemptions on essential commodities hardly reach the end-users as international price fluctuations, hoarding, production and availability of products work as major deterrents. Officia...

Reimagining collaboration for a hybrid future

Reimagining collaboration for a hybrid future

-- 2021-03-02 22:33:01

The pandemic has made businesses realise they have to adopt a hybrid model to recover, sustain and disrupt. Collaboration is the key to a hybrid future.  Multiple surveys show only around 12 per...

OPEC terms general oil market outlook positive

OPEC terms general oil market outlook positive

Reuters   2021-03-02 20:26:01

OPEC sees the oil market’s outlook as positive in general and the headwinds of uncertainty from last year continue to abate, the group’s secretary-general said. On a message on Twitter on...

Honda to assemble engine in Munshiganj

Honda to assemble engine in Munshiganj

-- 2021-03-02 20:00:15

Japanese motorcycle brand Honda has launched a new engine assembling line along with safety riding activities at its manufacturing plant in Munshiganj. National Board of Revenue (NBR) Chairman Abu He...

‘Macro-level policy reforms needed for completion of EZs’

‘Macro-level policy reforms needed for completion of EZs’

-- 2021-03-02 19:40:15

Macro-level policy reforms and strong governance are needed for the successful completion of the targeted Economic Zones in Bangladesh, Chairman of Bangladesh Economic Zone Authority (BEZA) Paban Chow...

India woos Tesla with offer of cheaper production costs than China

India woos Tesla with offer of cheaper production costs than China

Reuters 2021-03-02 18:47:59

India is ready to offer incentives to ensure Tesla Inc’s cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transp...

10-second video clip sold for $6.6m

10-second video clip sold for $6.6m

-- 2021-03-02 10:57:45

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million....

New WTO chief calls for tripling of vaccine production

New WTO chief calls for tripling of vaccine production

-- 2021-03-02 10:26:39

The new chief of the World Trade Organization (WTO) urged its member states on Monday to work with pharmaceutical companies to license more COVID-19 vaccine manufacturing in developing countries in or...

AstraZeneca sells stake in vaccine maker Moderna for nearly $1.0b

AstraZeneca sells stake in vaccine maker Moderna for nearly $1.0b

-- 2021-03-02 10:15:21

AstraZeneca sold its stake in rival COVID-19 vaccine maker Moderna for roughly $1 billion over the course of last year as the Anglo-Swedish drugmaker cashed in on the meteoric rise in the US company&r...

Gucci owner Kering invests in resale platform Vestiaire Collective

Gucci owner Kering invests in resale platform Vestiaire Collective

-- 2021-03-02 09:56:54

French luxury group Kering has taken a 5 per cent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younge...