Search results for: Trade

PM stresses diversifying export items through research

-- 2021-03-04 16:25:30

Prime Minister Sheikh Hasina on Thursday urged researchers to conduct studies to diversify Bangladesh’s export products alongside modernising and mechanising the agriculture sector. “Rese...

Civil society calls for bringing domestic helps under labour law

FE Report 2021-03-04 10:52:25

Speakers at a view-exchange meeting on Wednesday called for bringing domestic workers under the labour law umbrella to ensure their rights and benefits. They also suggested updating the 'Domestic Wor...

Owners of private medical colleges demand lifting 15pc income tax

FE Report 2021-03-04 10:36:38

Owners of private medical colleges on Wednesday urged the revenue authority to remove the existing 15 per cent income tax on the institutes, by considering those as non-profit organisations. They als...

Value added tax for storage, marketing of Covid-19 vaccines waived

FE REPORT 2021-03-04 09:19:10

The government has waived VAT (value-added tax) from all stages of post-import storage, marketing and distribution of Covid-19 vaccine. To this effect, the National Board of Revenue (NBR) on Wednesda...

National body meet fails to reach consensus on oil price issue

ISMAIL HOSSAIN 2021-03-04 09:16:22

A meeting of the national price monitoring and fixing committee under the Bangladesh Trade and Tariff Commission (BTTC) on Wednesday could not come to a consensus on a proposal of price hike of soybea...

Tax holiday, fiscal support sought for small industries

FE REPORT 2021-03-04 08:18:24

Bangladesh Chamber of Industries (BCI) has demanded fiscal support for the micro- and small-scale industries along with light engineering and agro-processing sectors to diversify the country's export...

Alibaba buys HungryNaki

FE Online Report 2021-03-03 23:17:29

E-commerce giant Alibaba has bought HungryNaki, a local food delivery company of Bangladesh. HungryNaki CEO AD Ahmed confirmed the sale to The Financial Express. Refused to provide any details, Mr A...

DCCI for widening tax net to revive economy

-- 2021-03-03 19:40:30

Dhaka Chamber of Commerce and Industry (DCCI) today (Wednesday) underscored the need for widening the tax net and ensuring automated tax system to recover the economy. The chamber made the emphasis w...

BTRC to auction unused spectrum on March 8

-- 2021-03-03 18:45:54

The Bangladesh Telecommunication Regulatory Commission (BTRC) will auction unused spectrum of two bands on March 8. Four mobile telecom operators will take part in the auction at Hotel InterContinent...

Saudi government still planning Aramco stake sell-down

Reuters 2021-03-03 11:06:54

The chairman of Saudi Aramco said on Tuesday the kingdom’s government remains committed to selling down some of its stake in the state oil firm. “Once we see the market conditions improve...

Car importers demand adjusting tax rates of new, used vehicles

FE Report 2021-03-03 10:05:50

Reconditioned car importers and dealers on Tuesday proposed that the revenue authority adjust tax rates of brand new and reconditioned cars in order to increase overall tax collection and safeguard...

Foreign investors insist on overhauling of VAT law

FE REPORT 2021-03-03 08:21:39

The foreign investors on Tuesday accused the revenue board of not keeping its promise made at the time of formulating the new VAT law. The provisions of the law are not in keeping with the promises,...

Middlemen blunt tax waiver impact on prices of essentials

DOULOT AKTER MALA 2021-03-03 08:07:19

Benefits of tax exemptions on essential commodities hardly reach the end-users as international price fluctuations, hoarding, production and availability of products work as major deterrents. Officia...

Reimagining collaboration for a hybrid future

-- 2021-03-02 22:33:01

The pandemic has made businesses realise they have to adopt a hybrid model to recover, sustain and disrupt. Collaboration is the key to a hybrid future.  Multiple surveys show only around 12 per...

OPEC terms general oil market outlook positive

Reuters   2021-03-02 20:26:01

OPEC sees the oil market’s outlook as positive in general and the headwinds of uncertainty from last year continue to abate, the group’s secretary-general said. On a message on Twitter on...

Honda to assemble engine in Munshiganj

-- 2021-03-02 20:00:15

Japanese motorcycle brand Honda has launched a new engine assembling line along with safety riding activities at its manufacturing plant in Munshiganj. National Board of Revenue (NBR) Chairman Abu He...

‘Macro-level policy reforms needed for completion of EZs’

-- 2021-03-02 19:40:15

Macro-level policy reforms and strong governance are needed for the successful completion of the targeted Economic Zones in Bangladesh, Chairman of Bangladesh Economic Zone Authority (BEZA) Paban Chow...

India woos Tesla with offer of cheaper production costs than China

Reuters 2021-03-02 18:47:59

India is ready to offer incentives to ensure Tesla Inc’s cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transp...

10-second video clip sold for $6.6m

-- 2021-03-02 10:57:45

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million....

New WTO chief calls for tripling of vaccine production

-- 2021-03-02 10:26:39

The new chief of the World Trade Organization (WTO) urged its member states on Monday to work with pharmaceutical companies to license more COVID-19 vaccine manufacturing in developing countries in or...

AstraZeneca sells stake in vaccine maker Moderna for nearly $1.0b

-- 2021-03-02 10:15:21

AstraZeneca sold its stake in rival COVID-19 vaccine maker Moderna for roughly $1 billion over the course of last year as the Anglo-Swedish drugmaker cashed in on the meteoric rise in the US company&r...

Gucci owner Kering invests in resale platform Vestiaire Collective

-- 2021-03-02 09:56:54

French luxury group Kering has taken a 5 per cent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younge...

Businesses allowed to adjust stockpiled deposits at tax offices

FE REPORT 2021-03-02 08:53:07

The revenue board has allowed businesses to adjust their stockpiled deposits worth Tk 25 billion at field-level VAT offices at a threefold higher rate to facilitate them. From now on, businesses will...

Further cut in duty on rice proposed

REZAUL KARIM 2021-03-02 08:32:29

The Ministry of Food has proposed cutting the import duty on rice further by 10 per cent to 15 per cent with a view to encouraging traders to import the staple in higher volume, sources said. The mov...

Firm promises of govt led paradigm shift in our economy: DCCI

UNB 2021-03-01 23:11:24

To overcome the challenges and smooth transition of Bangladesh until 2026, Dhaka Chamber of Commerce & Industry (DCCI) on Monday suggested the government to sign FTA, PTA with potential countries...

Annual expenditure for apps to reach $270b by 2025

-- 2021-03-01 17:46:42

Global consumer spending on premium apps, in-app purchases, and subscriptions across Apple's App Store and Google Play will reach $270 billion annually by 2025, nearly 2.5 times higher than what consu...

Doreen Power wins ICMAB Best Corporate Award 2019

FE ONLINE DESK 2021-03-01 12:19:44

Doreen Power Generation and Systems Limited has secured the ‘ICMAB Best Corporate Award 2019’ for its highly transparent and efficient financial statements and expertise in corporate gover...

Bitcoin falls 5.84pc to $43,418

-- 2021-03-01 10:04:32

Bitcoin dropped 5.84 per cent to $43,418.02 on Sunday, losing $2,691.96 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen 25.6 per cent from the ye...

Aramco seeks one-year extension on $10b loan

Reuters 2021-03-01 10:00:16

Saudi Aramco has asked banks to extend by a year a $10 billion loan it raised last May, two sources familiar with the matter said, suggesting that rebounding crude prices are not pushing the oil giant...

Porsche to participate in fundraising of electric supercar maker Rimac

REUTERS 2021-03-01 09:53:55

Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner M...