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The Financial Express

Search results for: trade

Four e-com kingpins transact Tk 100b

Four e-com kingpins transact Tk 100b

FE REPORT 2022-04-22 09:18:25

Over Tk 100 billion has been transacted in the bank accounts of four big ecommerce platforms -- Evaly, Eorange, Qcoom and Boom Boom -- between 2019 and 2021, and three allegedly committed money laun...

BB issues guideline on interest waiver

BB issues guideline on interest waiver

FE REPORT 2022-04-22 08:54:33

Bangladesh Bank (BB) issued a circular on interest waiver on Thursday, tightening the existing policy to bring disciplines in the banking sector. The central bank has observed that many banks are i...

Duty-taxes on dev projects: Revenue concern forces NBR to lift exemptions

Duty-taxes on dev projects: Revenue concern forces NBR to lift exemptions

DOULOT AKTER MALA 2022-04-22 08:46:00

The National Board of Revenue (NBR) has asked the government agencies to add duty and taxes to the cost of their development projects that have been enjoying exemptions so far. "All government mini...

BB issues revised agent banking guidelines

BB issues revised agent banking guidelines

-- 2022-04-21 18:12:02

Bangladesh Bank issued a revised guideline for 'Agent Banking Operation' in the country on Thursday. The Banking Regulation and Policy Department (BRPD) of the central bank issued the revised guideli...

Tata Steel to stop doing business with Russia

Tata Steel to stop doing business with Russia

-- 2022-04-21 10:41:41

Tata Steel will stop doing business with Russia, India's largest steelmaker by revenue said on Wednesday, making it the latest global company to cut ties with the country for invading Ukraine. "Tata...

BIDA's one-stop service can help businesses save cost and time

BIDA's one-stop service can help businesses save cost and time

FE REPORT 2022-04-21 10:13:09

Speakers at a programme on Wednesday stressed the need for popularising the one-stop service (OSS) of the Bangladesh Investment Development Authority (BIDA) to help businesses save cost and time. Cur...

Third submarine cable expansion: BSCCL to invest Tk 1.73b more

Third submarine cable expansion: BSCCL to invest Tk 1.73b more

FE REPORT 2022-04-21 10:00:01

The Bangladesh Submarine Cable Company Limited (BSCCL) board has decided to expand the country's third submarine cable, and invest Tk 1.73 billion more for it. With the increase, its total cost for t...

Bhutan confirms import of 10Gbps bandwidth from Bangladesh

Bhutan confirms import of 10Gbps bandwidth from Bangladesh

ISMAIL HOSSAIN 2022-04-21 09:41:38

Bhutan has confirmed the import of 10 Gbps (Gigabits per second) of internet bandwidth from Bangladesh. "The discussion has been going on for the last few years. Today, Bhutan has accepted our prop...

BB asks authorised dealers to track export shipments

BB asks authorised dealers to track export shipments

FE REPORT 2022-04-21 09:12:33

The central bank of Bangladesh asks the authorised dealers to track export shipments as it smells a rat about trade-based money laundering to the tune of billions of dollars. Currently, banks are t...

'Limit luxury imports'

'Limit luxury imports'

FE REPORT 2022-04-21 08:59:25

Import of luxury goods will be held in check until the price-fuelling global inflation cools down to tolerable levels, says Finance Minister AHM Mustafa Kamal about one of the curbs coming in the ne...

Bangladesh willing to defer swap repayments of $450m: Sri Lanka

Bangladesh willing to defer swap repayments of $450m: Sri Lanka

-- 2022-04-20 22:39:48

Sri Lankan Foreign Minister G L Peiris says Bangladesh would defer repayment of a $450 million of a currency swap agreement to ease Colombo's burden amid worsening economic crisis in Sri Lanka India...

BGMEA urges government to ensure steady gas supply for smooth production

BGMEA urges government to ensure steady gas supply for smooth production

FE ONLINE REPORT 2022-04-20 19:28:50

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to ensure steady supply of natural gas with adequate pressure so that smooth production can take place in garmen...

Government to control imports of luxury goods

Government to control imports of luxury goods

-- 2022-04-20 16:49:11

Finance Minister AHM Mustafa Kamal has said that import of luxury goods will be controlled as part of tightening the belt.  “But import of non-essential commodities will be controlled in p...

Germany offers new format of development partnership

Germany offers new format of development partnership

FE ONLINE REPORT 2022-04-20 15:52:49

Germany has offered a new instrument of development cooperation dubbed ‘Climate and Development Partnership’ to Bangladesh, said Achim Troster, German Ambassador in Dhaka on Wednesday. &l...

Delegate protests over Russia to upstage G20 meeting

Delegate protests over Russia to upstage G20 meeting

-- 2022-04-20 15:21:32

Western nations are preparing to stage coordinated walk-outs and other diplomatic snubs to protest against Russia's invasion of Ukraine at Wednesday's meeting of G20 finance ministers in Washington, t...

Bangladesh agog to sign FTA with ASEAN

Bangladesh agog to sign FTA with ASEAN

SYFUL ISLAM 2022-04-20 10:12:10

Bangladesh now works vigorously to sign free-trade agreement (FTA) with ASEAN before LDC graduation to make up for loss of preferential trading facility following exit from the poor-country club. Dha...

BB allows ADs to overcharge highest 1.0pc

BB allows ADs to overcharge highest 1.0pc

FE REPORT 2022-04-20 09:34:00

The central bank allows authorised dealer (AD) banks to charge borrowers additional interest not exceeding 1.0 per cent annually for loans under the export development fund (EDF). The new directive...

Skill gap, no payment gateway: Freelancing faces twin blows

Skill gap, no payment gateway: Freelancing faces twin blows

MIR MOSTAFIZUR RAHAMAN 2022-04-20 08:27:43

Expected growth in IT freelancing that has the potential to outshine RMG sector is stymied by inadequate government policy support and complications confronting foreign-currency transactions, inside...

BB mints new banknotes for release on Wednesday

BB mints new banknotes for release on Wednesday

SAJIBUR RAHMAN 2022-04-19 22:20:44

A slew of new banknotes will hit the money market on Wednesday as demand surges for Eid tips with shinny notes, officials say. The Eid-ul-Fitr festival is now round the corner and people usually give...

Banks can charge additional 1.0pc interest on EDF loans for interim period

Banks can charge additional 1.0pc interest on EDF loans for interim period

-- 2022-04-19 21:01:16

Bangladesh Bank has allowed the authorised dealer (AD) banks to charge an additional one per cent interest on exporters for an interim period against loans under Export Development Fund (EDF). "To ma...

Nestlé Bangladesh installs kiosks at Police Plaza

Nestlé Bangladesh installs kiosks at Police Plaza

FE ONLINE REPORT 2022-04-19 17:37:00

Nestlé Bangladesh Limited installed two NESCAFE kiosks at Police Plaza Concord Shopping mall in the capital’s Niketon area recently. The multinational food and beverage company set up th...

Firms in Shanghai gear up for wider reopening with ‘pressure test’

Firms in Shanghai gear up for wider reopening with ‘pressure test’

FE ONLINE DESK 2022-04-19 13:20:40

More firms in Shanghai are announcing the launch of "trial operations" on Monday, a cautious but optimistic move suggesting the beginning of supply chain recovery, as authorities unveiled a slew of gu...

Soaring battery costs fail to cool electric vehicle sales

Soaring battery costs fail to cool electric vehicle sales

-- 2022-04-19 11:36:15

Buyers around the world are lining up to purchase electric vehicles this year even with sticker prices surging, flipping the script on a decade and a half of conventional auto industry wisdom that EV...

Flour prices on rise in Bangladesh

Flour prices on rise in Bangladesh

Yasir Wardad 2022-04-19 10:15:07

Flour became further pricier in the country amid gradual surge in its global market prices, raising sufferings of the commoners, who are already battered with the rocketing price trend of essentials....

City Bank arranges ECA-backed Euro long term financing

City Bank arranges ECA-backed Euro long term financing

-- 2022-04-19 10:04:28

City Bank has recently arranged an ECA-backed long term financing of EUR 28.63 million to facilitate Western Engineering Limited, a local leading dredging solution provider, importing 10 dredgers from...

Workers' outflow more than doubles in three months

Workers' outflow more than doubles in three months

ARAFAT ARA 2022-04-19 09:56:20

The outflow of migrant workers surged by more than double in the first three months of the current year, boosting the country's employment growth and remittance earnings. Official data showed a tot...

833 RMG factories yet to pay March wages until April 18

833 RMG factories yet to pay March wages until April 18

FE REPORT 2022-04-19 09:54:17

Some 833 factories, including textile and readymade garment (RMG) units, across the country are under close monitoring by a law-enforcing agency and trade bodies, as they were yet to pay their worke...

Reform panel recommends reinstatement of Advance Trade VAT

Reform panel recommends reinstatement of Advance Trade VAT

DOULOT AKTER MALA 2022-04-19 09:19:34

A reform panel recommends reinstating the once-discarded Advance Trade VAT (ATV) that taxes products at both ends -- production and import -- and refuses refund. Sources say if this system is re-impo...

Global LNG suppliers scramble for deals with Bangladesh

Global LNG suppliers scramble for deals with Bangladesh

M AZIZUR RAHMAN 2022-04-19 08:27:52

Global suppliers are eyeing a burgeoning Bangladesh fuel market and scrambling for long-term supply deals, either by lobbying government high-ups or through competitive biddings, market-insiders say...

Banks in industrial areas to remain open on April 29, 30

Banks in industrial areas to remain open on April 29, 30

-- 2022-04-18 20:51:29

Banks have been asked to continue operation on April 29 and 30 to facilitate payment of garment workers' salary, Eid bonus, allowances and export-import activities. Bangladesh Bank (BB) gave the dire...