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A file photo shows a man carrying a sack of rice in Dhaka. The monthly inflation in September went up 23 months high to 6.12 per cent because of food price-led inflation against the backdrop of sharp rise in price of rice. — New Age photo The monthly inflation in September went up 23 months […]

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The revenue authority has eased the provision of physical inspection for export consignments until June 2018 to clear a backlog of 2,300 applications submitted mainly by jute and leather exporters for duty drawback of raw materials. In an order, the National Board of Revenue recently said the applications for duty draw back could be settled […]

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Islami Bank’s new management has taken on a spirited approach to lending, with its loan-deposit ratio sitting dangerously close to the limit of 90 percent set by the central bank. The new management took over at the beginning of the year, and in the following seven months, the bank’s loan-deposit ratio surged 3.54 percentage points […]

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A file photo shows containers in the Chittagong port. The National Board of Revenue has asked the country’s commercial banks to comply with the responsive declaration procedures in opening letter of credit and approving other import-related documents for preventing tax evasion and trade-based money laundering. — New Age photo The National Board of Revenue has […]

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The Indian government’s massive stimulus package of Rs 60 billion, or $894 million, for boosting its garment sector is bearing fruit as the neighbouring country is progressively eating into Bangladesh’s share in global apparel trade. For instance, India last year was the third biggest exporter of garment items to the US, which happens to be […]

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A file photo shows a man using an electronic cash register machine at a shop in Dhaka. The National Board of Revenue has dropped its plan of providing ECR to shopkeepers citing complexities in maintenance and after-sales service. — New Age photo National Board of Revenue has dropped its plan of providing electronic cash register […]

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A file photo shows workers sewing clothes at a readymade garment factory in Dhaka. Country’s export earnings in September of the current financial year 2017-18 declined by 9.83 per cent after a strong growth in the first two months of the fiscal year — 26.54 per cent in July and 10.71 per cent in August. […]

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Bangladesh Bank has already surpassed its fiscal 2016-17’s sales figure of US dollar in the first three months of the current fiscal year as it scrambles to prevent the slide of the taka against the greenback. “The local currency would have depreciated to Tk 85 against a dollar if the central bank had not intervened,” […]

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Garment manufacturers yesterday demanded that the government ensure efficient functioning of the Chittagong port and airports and a stable power tariff for continued growth of apparel exports. “We want price predictability of electricity and gas so that we can plan for long periods in our business,” said Tapan Chowdhury, president of the Bangladesh Textile Mills […]

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Commerce minister Tofail Ahmed, India’s finance minister Arun Jaitley, India’s high commissioner in Dhaka Harsh Vardhan Sringhla and Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin are seen at ‘Bangladesh India Business Meeting’ organised by the FBCCI at the Sonargoan Hotel in Dhaka on Tuesday. — New Age photo Dhaka has […]

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Exports to India are not picking up despite a host of positive initiatives by both the countries. “We are struggling to cross the $1 billion-mark on export to India although India is one of the high potential markets for Bangladesh,” said Abdul Matlub Ahmad, former president of the Federation of Bangladesh Chambers of Commerce and […]

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Wheat imports soared as a section of people has switched to flour in the face of high prices of staple rice, said importers. Wheat imports grew 28 percent year-on-year to 9.41 lakh tonnes from July to mid-September, according to data compiled by the food ministry. “Many people have started eating wheat flour as a substitute […]

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