Home » Archives by category » Economy (Page 3)

A file photo shows finance minister Abul Maal Abdul Muhith handing over an award to a vat payer in Dhaka. The National Board of Revenue has taken an initiative to relax selection criteria of the highest VATpayers award to honour more businesses with the award. — New Age photo The National Board of Revenue has […]

Continue reading …

Apple Inc investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits. Hedge fund JANA Partners LLC and the California State Teachers’ Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children’s […]

Continue reading …

The Anti-Corruption Commission or ACC has quizzed six directors of the AB Bank and called Chairman MA Awal and another director to appear before the commission to face questioning as part of the investigation to the alleged money laundering. The six directors quizzed by the ACC on Sunday were: Shishir Ranjan Bose, Mesbahul Hoque, Md […]

Continue reading …

The port under construction for the coal-based power plant in Cox’s Bazar’s Moheshkhali will be converted into a deep-sea port. State Minister for Power Nasrul Hamid made the announcement during an inspection of the construction site in Matarbari on Friday. “The area is to be dredged and a deep-sea port built here,” Hamid said. “A […]

Continue reading …

The key indicators did well in 2017 amid a seemingly stable political atmosphere throughout the year, but the economy took a hit on spiralling rice prices and a messy banking sector.  The Bangladesh economy grew by a record 7.28 percent in the 2016-17 fiscal, beating the 7 percent target, thanks to the increased revenue collection, […]

Continue reading …

The country’s banking sector passed yet another turbulent year marred by growing bad loans and unstoppable scams caused by hostile takeover of private banks and exposure of two new private banks to almost bankruptcy. The swelling bad loans have been described by experts as chronic problem while they identified this takeover of banks as ‘hijack’ […]

Continue reading …

Inward remittance in the country increased slightly in the just concluded year as expatriate Bangladeshis sent 8.65 per cent more money in the year despite the fact that an additional 10 lakh Bangladeshi people got overseas jobs in 2017. Country’s remittance inflow increased by $1.07 billion to $13.54 billion in the year of 2017 from […]

Continue reading …

NBR tracks Tk29,000 crore of outstanding VAT to largest taxpayers. Five of the biggest companies in Bangladesh, including three telecom giants, are allegedly responsible for 82% of VAT due to large taxpayer units (LTU) of the National Board of Revenue. The NBR identified Petrobangla (Bangladesh Oil, Gas & Mineral Corporation), Grameenphone, Robi, British American Tobacco […]

Continue reading …

Operating profits of most of the scheduled banks increased significantly in the just-concluded year of 2017 amid rampant credit disbursements by the banks, said senior bank officials. Out of 28 banks, data of which were available till Sunday, operating profits of 27 banks rose in the year. Relatively calm political situation, moderate rise in export […]

Continue reading …

Dr AB Mirza Azizul Islam, former finance adviser to caretaker government AB Mirza Azizul Islam Top three challenges Bangladesh economy faced in 2017: # The growth of export earnings and remittance inflow has slowed down drastically in the year 2017. The export growth decreased by 1.72% compared to 10% in the previous year, while the […]

Continue reading …

The circular reads that Bitcoin is not an authorised and legal currency in any other country in the world Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website. The circular read that Bitcoin is not an authorised and legal currency in any other country […]

Continue reading …

Refayet Ullah Mirdha   The favourable US dollar-taka exchange rate has lent a helping hand to apparel exporters in the outgoing calendar year, cushioning the fallout from the uncertain political climate in the Western world. In the first 11 months of 2017, Bangladesh exported garment items worth $26.40 billion, up 1.38 percent year-on-year, according to […]

Continue reading …