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The Financial Express

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22-member high powered body formed to tackle LDC graduation challenges

22-member high powered body formed to tackle LDC graduation challenges

FE REPORT 2021-04-29 10:49:54

The Prime Minister's Office (PMO) has formed a high-powered committee to find out the possible challenges of the country after graduating from the least developed country (LDC) in 2026 and overcome...

Tk 12.93b sought for paying tax for widening 54km road

Tk 12.93b sought for paying tax for widening 54km road

FHM HUMAYAN KABIR 2021-04-29 10:41:54

The Roads and Highways Department (RHD) has sought to spend Tk 12.93 billion as tax and VAT for widening a 54km road with support from the Indian Line of Credit (LoC) in eastern Bangladesh, insiders h...

GDP growth to pick up on stimulus, says ADB

GDP growth to pick up on stimulus, says ADB

-- 2021-04-28 14:11:43

Bangladesh, which weathered the pandemic better than most economies in South Asia, will continue to grow strongly as exports pick up. The country’s GDP growth is projected to accelerate 6.8 per...

Tax revenue soars 22.65pc in March

Tax revenue soars 22.65pc in March

DOULOT AKTER MALA 2021-04-28 09:54:15

Tax revenue collection in the month of March registered a hefty 22.65 per cent growth despite Covid-19 pandemic thanks to a surge in import of goods. According to data of the National Board of Revenu...

China's digital yuan expands from consumer payments to business scenarios

China's digital yuan expands from consumer payments to business scenarios

Global Times 2021-04-27 15:36:00

The application of China's Digital Currency Electronic Payment (DC/EP), also known as digital yuan, which has already been on a fast development track since last year, is taking another critical step...

Pandemic-induced boom in e-commerce adds jobs in Bangladesh

Pandemic-induced boom in e-commerce adds jobs in Bangladesh

-- 2021-04-27 11:14:57

A boost in e-commerce business fuelled by the trend of staying home amid the coronavirus pandemic has generated jobs in the sector while other areas of the economy are struggling to cope up with the s...

Banks can form start-up fund with 1.0pc of net profits

Banks can form start-up fund with 1.0pc of net profits

SIDDIQUE ISLAM 2021-04-27 09:32:43

The central bank has amended its policy allowing all banks to form their own start-up fund with 1.0 per cent of net profits instead of operating ones earlier, officials said. To provide start-up entr...

Prospect of hitting boro rice purchase target remains clouded

Prospect of hitting boro rice purchase target remains clouded

TALHA BIN HABIB AND YASIR WARDAD 2021-04-27 09:28:13

The government's target to procure 1.8-million tonnes of Boro rice this year may not be achieved as the millers find the prices offered unattractive. On Monday, food minister Shadhan Chandra Majumder...

Yields on treasury bills drop

Yields on treasury bills drop

SIDDIQUE ISLAM 2021-04-26 10:29:41

The yield on treasury bills (T-bills) dropped further on Sunday as the commercial banks having excess liquidity rushed to offer bids in the auction due to the ongoing lockdown, bankers said. The cut-...

12m families to get Tk 5.74b from government

12m families to get Tk 5.74b from government

FE REPORT 2021-04-26 10:28:45

A total of over 12 million families would be benefited from the government's financial allocation of over Tk 5.74 billion during the Covid-19 pandemic, said the State Minister for Disaster Management...

Nikkei Asia praises Bangladesh's growth, govt efforts during pandemic

Nikkei Asia praises Bangladesh's growth, govt efforts during pandemic

UNB 2021-04-25 21:35:07

Nikkei Asia, in its recent article, praised Bangladesh's growth describing how the economy has boomed and exports soared. The article also described how Bangladesh's economy has even exhibited resili...

Pandemic hits hard Bangladesh's aquaculture sector: Study

Pandemic hits hard Bangladesh's aquaculture sector: Study

FE REPORT 2021-04-24 10:58:11

Despite having potentials, the aquaculture sector in Bangladesh has been affected badly in the wake of the pandemic mainly due to the increased cost of fish feed and sluggish demand, according to a st...

VAT net expansion likely in next budget

VAT net expansion likely in next budget

FE REPORT 2021-04-24 09:35:59

The National Board of Revenue (NBR) intends to expand the VAT (value-added tax) net instead of raising the VAT rate in the budget for the next fiscal year (FY), said its VAT (policy wing) member Md...

LIBOR phaseout may lead to interest-rate volatility

LIBOR phaseout may lead to interest-rate volatility

JASIM UDDIN HAROON 2021-04-24 09:18:35

The interest rate of the country's many foreign borrowings is likely to go up, as the London Interbank Offered Rate (LIBOR) will cease to be effective in the case of most currencies, including the U...

Global economy to stage vigorous recovery

Global economy to stage vigorous recovery

REUTERS 2021-04-23 10:50:58

The global economy will recover this year from its coronavirus slump at a pace not seen since the 1970s as strong momentum builds in most major economies, according to Reuters polls of over 500 econ...

High ambition, low capacity responsible for widening revenue shortfall

High ambition, low capacity responsible for widening revenue shortfall

Doulat Akter Mala 2021-04-23 09:31:48

The tax revenue target and the capacity of the National Board of Revenue (NBR) are ill-matched. That is one of the major reasons for the widening shortfall in revenue collection, Mr Farid Uddin, a f...

Covid time needs innovative budget: Enamul Haque

Covid time needs innovative budget: Enamul Haque

FE REPORT 2021-04-22 09:12:37

Revenue collection should not be the main goal of the government under the prevailing circumstances. Instead, it should think about how best it can save life and livelihood, Dr A. K. Enamul Haque, Pro...

Chinese shoemaker brings jobs, better life to villagers in Gazipur

Chinese shoemaker brings jobs, better life to villagers in Gazipur

Global Times 2021-04-21 19:27:29

Thousands of households in the Gazipur district, on the outskirts of Dhaka, have become better off after a Chinese-invested shoemaking factory opened there in 2012. Panda Shoes Industries Ltd. has no...

‘Regional cooperation can bolster South Asia’s capabilities to fight pandemic’

‘Regional cooperation can bolster South Asia’s capabilities to fight pandemic’

FE Online Desk 2021-04-21 13:56:01

Analysts have identified the prevailing coronavirus pandemic as a turning point in world history, with ramifications for everything from climate change to the global balance of power, according to ICC...

NBR faces uphill battle in achieving VAT collection target

NBR faces uphill battle in achieving VAT collection target

UNB 2021-04-20 17:58:15

With just over 41 per cent VAT collection target met in the first seven months of this fiscal year, the National Board of Revenue (NBR) is mounting pressure on its field offices to boost the collectio...

Bangladesh sees 25m new poor, debt burden doubles during pandemic: Survey

Bangladesh sees 25m new poor, debt burden doubles during pandemic: Survey

FE Online Desk 2021-04-20 16:49:39

The army of the ‘new poor’, struggling to return to pre-Covid occupations and income levels, is in danger of being stuck in a poverty trap, says a joint survey released on Tuesday. It est...

Sectors that contribute most shouldn't be targetted: Zahid Hussain

Sectors that contribute most shouldn't be targetted: Zahid Hussain

Jasim Uddin Haroon 2021-04-20 09:22:42

Firefighting and recovery efforts on both health and economic fronts ought to be the central features of the budget for the next fiscal year (FY 2021-22), Dr Zahid Hussain, one of the country's leadin...

Cigarette, mobile, pharma sectors pay higher value added tax

Cigarette, mobile, pharma sectors pay higher value added tax

DOULOT AKTER MALA 2021-04-20 09:16:01

Three sectors - cigarette, pharmaceuticals and mobile phone - made an impressive contribution to the government's revenue collection efforts during the first three quarters of the current fiscal yea...

Structural reforms unlikely, says Kamal blaming pandemic resurgence

Structural reforms unlikely, says Kamal blaming pandemic resurgence

FE REPORT 2021-04-19 09:16:06

Finance Minister AHM Mustafa Kamal on Sunday said the budget for upcoming fiscal year will strike a balance between the government's revenue collection and the profit earning of the businesses. The...

e-fund transfer system resumes at Bangladesh Bank after five days

e-fund transfer system resumes at Bangladesh Bank after five days

-- 2021-04-18 15:10:38

Inter-bank cheque settlement and electronic fund transfer system of Bangladesh Bank resumed on Sunday morning after five days of suspension. The system was suspended on Tuesday last due to a technica...

Bangladesh sees 17m 'new poor', loses 3pc jobs during pandemic

Bangladesh sees 17m 'new poor', loses 3pc jobs during pandemic

FE REPORT 2021-04-18 10:01:59

The Covid-19 pandemic has rendered about 3.0 per cent of the country's labour force jobless and created an estimated 16.38 million 'new poor', a study report has revealed. Day-labourers, numbering ab...

Experts for more growth-friendly, transparent tax system

Experts for more growth-friendly, transparent tax system

-- 2021-04-17 22:58:40

The National Board of Revenue (NBR) should reduce tax deduction at source (TDS) following global practices and need to modernise and simplify the country's tax system. The regulator should offer ince...

Business leaders emphasise tax reform for attracting FDI, expanding exports for recovery

Business leaders emphasise tax reform for attracting FDI, expanding exports for recovery

FE ONLINE REPORT 2021-04-17 21:45:04

A panel of business leaders and experts on Saturday suggested removing regulatory, fiscal and legal barriers to investment so that both local and foreign investors can invest and do business smoothly...

Youth unemployment, growth of informal sector may hinder SDG 8 achievement, experts say

Youth unemployment, growth of informal sector may hinder SDG 8 achievement, experts say

FE Online Report 2021-04-17 17:35:01

Country’s youth unemployment, rising employment in the informal sector and child labour, which are worsening in the pandemic, may restrain the achievement of SDG 8 and economic growth by 2030....

Livelihoods, recovery to be in focus in next budget

Livelihoods, recovery to be in focus in next budget

SYFUL ISLAM 2021-04-17 10:00:17

The national budget for the fiscal year 2021-22 will focus on measures to face Covid-19 challenges, save lives and livelihoods of people and recover the economy. Officials said the budget would be...