Search results for: Trade

Summit LNG gets Tk 580m duty waiver

FE REPORT 2022-02-04 09:48:06

The Internal Resources Division (IRD) under the Ministry of Finance (MoF) has waived Tk 580 million stamp duty of the Summit LNG Terminal Co (Pvt) Ltd. The IRD recently issued a gazette waiving the n...

British American Tobacco cleared of VAT, supplementary duty claim

FE REPORT 2022-02-04 08:46:06

The Appellate Division of the Supreme Court (SC) has turned down the revenue board's review petition on retrospective VAT and SD claim worth Tk19.24billion against the listed company British American...

Revenue board urged to ease business procedures

FE REPORT 2022-02-04 08:41:42

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested the NBR to simplify business procedures for seizing the new opportunities created for the readymade garment sector. "B...

Four local companies get government's nod to invest $13.5m abroad

-- 2022-02-03 19:53:45

The government has granted permission to four local companies to invest US$13.5 million in five foreign countries. The committee of Bangladesh Bank for allowing investment abroad in its last sitting...

IMF cuts critical coal language from Japan statement

-- 2022-02-03 19:25:27

The International Monetary Fund deleted a sentence critical of Japan's continued financing of high-emissions coal projects from a staff mission statement on the Japanese economy, a copy of an earlier...

Merck sees 2022 sales up nearly 20pc, mostly on molnupiravir

-- 2022-02-03 18:20:52

Merck & Co said on Wednesday it expects its 2022 sales to increase as much as 18 per cent over last year, mostly on sales of its new Covid-19 pill, molnupiravir. The drugmaker said sales of the C...

Financial intelligence unit summons bank accounts update of 30 e-commerce companies

-- 2022-02-03 17:45:20

The Bangladesh Financial Intelligence Unit (BFIU), a wing of the central bank, has summoned the bank accounts of 30 e-commerce companies including Daraj, Alesha Mart, Evaly and e-Orange. The BFIU has...

Price of 12-kg LPG container increases by Tk 62

FE ONLINE DESK 2022-02-03 14:51:44

The price of private operators' liquefied petroleum gas (LPG) has been increased by Tk 62 to 1,240 from Tk 1178 per 12-kg container with effect from 6:00pm today (Thursday) at the retail level, includ...

BBIN MVA to open multimodal connectivity in sub-region

FE ONLINE DESK 2022-02-03 11:54:30

Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement (MVA) implementation will create a scope to develop a protocol for cost-effective, efficient and seamless multimodal transport system...

Oil slips despite OPEC+ sticking to moderate rise

-- 2022-02-03 10:24:30

Oil prices edged up on Wednesday after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly, Reuters reports. Brent crude ended settling u...

US union wants retailers to review wages paid by vendors

-- 2022-02-03 10:16:27

The Teamsters union wants four large US retailers to investigate if companies in their supply chains are underpaying workers, hoping the retailers will use their leverage with vendors to achieve great...

Alphabet inches closer to $2tn market value

FE ONLINE DESK 2022-02-03 10:11:43

  Google parent company Alphabet Inc advanced nearer to joining peers Apple Inc and Microsoft Corp in the elite $2 trillion market valuation club on Wednesday as the search giant's shares surged...

Bangladesh fails to exploit immense potential in automobile sector: FBCCI

-- 2022-02-02 22:51:18

Bangladesh has failed to exploit its immense potential in the automobile sector due to absence of policy, design and drawings of two, three and four wheelers, according to the FBCCI. As a result, alm...

Walton wins best electronics stall award in DITF-22

FE ONLINE DESK 2022-02-02 18:27:11

Walton, a leading local brand in the electronics and electrical sector, has received the best electronics stall award in the just concluded month-long 26th Dhaka International Trade Fair (DITF-2022)....

Mamunur Rashid elected ICMAB president

FE ONLINE DESK 2022-02-02 14:31:37

Md Mamunur Rashid, FCMA, was elected president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) for the term 2022. Besides, Md Munirul Islam, FCMA, and Imtiaz Alam, FCA, FCMA...

A look back at DITF

Moazzem Hossain Khan 2022-02-02 14:16:49

The 26th Dhaka International Trade Fair (DITF) kickstarted on January 01 at the Bangabandhu Bangladesh-China Friendship Exhibition Centre in Purbachal and continued for the whole month amidst many spe...

Taxmen may exclude inactive TINs from database

DOULOT AKTER MALA 2022-02-02 08:58:04

The National Board of Revenue (NBR) is mulling excluding inactive tax identification numbers from its database. Both taxpayers and taxmen now feel the necessity of incorporating a provision into the...

Bangladesh picks US company to negotiate deal on long-term LNG purchase

M AZIZUR RAHMAN 2022-02-02 08:44:23

Bangladesh has now picked US oil-major Excelerate Energy as a third company to negotiate liquefied natural gas (LNG) purchase on a longer term, on unsolicited deals. Over the last couple of months th...

Excessive import pushes trade gap to $15b

FE ONLINE REPORT 2022-02-02 08:38:28

Bangladesh’s bilateral trade deficit with the rest of the world crossed US$15 billion in the first half of the current fiscal year (FY22). Statistics released by the central bank showed that ga...

BGMEA emphasises rapid completion of railway projects for Bangladesh's economic benefit

FE ONLINE REPORT 2022-02-01 18:56:23

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday reiterated the need for speedy completion of the ongoing railway development projects across the country to derive economi...

Under draft EU plan, foreign banks face bigger capital bill

-- 2022-02-01 11:07:16

Foreign banks based in the European Union may have to hold more capital and liquidity under revisions to rules being considered by the bloc's member states, an EU document showed, Reuters reports. Of...

Bangladesh receives export orders worth $16m in Dhaka trade fair

FE REPORT 2022-02-01 09:51:22

Bangladesh received export orders worth US$ 16 million in the 26th edition of the Dhaka International Trade Fair (DITF) that concluded on Monday. In addition, products worth around Tk 400 million w...

Credit uptake by businesses balloons

SIDDIQUE ISLAM 2022-02-01 09:27:02

Credit flow into Bangladesh's private sector picks up in December as demand for loans, particularly for trade financing, grows for running businesses on a full scale to offset corona fallout. The cre...

Bangladesh-Thailand agree to enhance trade, investment relations

-- 2022-01-31 22:24:09

Dhaka and Bangkok have agreed to raise bilateral ties to a newer height through further intensifying trade and investment relations between Bangladesh and Thailand, reports BSS. This was discussed in...

Retired postmen can become Nagad Uddokta

-- 2022-01-31 17:45:41

All postmen or bearers under the Bangladesh Postal Department can now become Uddokta (entrepreneurs) of Nagad if they want to after their retirement. Nagad, a mobile financial service, will be instr...

Trade through Benapole land port suspended

-- 2022-01-31 16:50:06

Export-import activities between Bangladesh and India through Benapole land port remained suspended since Monday morning due to an indefinite strike called by Petrapole port workers of India. Karthik...

Refiners seek waiver of 20pc regulatory duty on raw sugar import

FE REPORT 2022-01-31 09:21:20

Country's sugar refiners have sought waiver of existing 20 per cent regulatory duty (RD) on raw sugar import, aiming to keep the sweetener prices stable during the upcoming Ramadan. They also have re...

SMEF facilitates loans to 3,106 entrepreneurs

FE REPORT 2022-01-31 09:16:04

Some 3,106 entrepreneurs have so far received Tk 3.0 billion from the stimulus package from different banks and the financial insinuations through the intervention of the SME Foundation (SMEF). Of th...

AFCL gets tax waiver on API molecule production

DOULOT AKTER MALA 2022-01-31 09:15:00

The National Board of Revenue (NBR) has waived tax on Active Fine Chemicals Limited's (AFCL) business income from production of molecule laboratory reagents of active pharmaceutical ingredients (API...

Bangladesh's property market rebounds, capital flight slows down

JUBAIR HASAN 2022-01-31 09:05:39

Bangladesh's land property-transfer market rebounds strongly even amid corona curbs with several financial factors, including a pause in capital flight, pushing up sales, officials say. They find a s...