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The Financial Express

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Local, foreign companies show interest in arranging funds

Local, foreign companies show interest in arranging funds

Mohammad Mufazzal 2021-05-10 12:04:48

Some local and foreign companies have shown interest to work as arrangers of funds to be issued by the state-run Investment Corporation of Bangladesh (ICB) through the issuance of bond. Of the foreig...

‘Black money’ goes against fairness, economic principles

‘Black money’ goes against fairness, economic principles

FE REPORT 2021-05-10 11:20:33

Business leaders and academicians on Sunday said that legalising undisclosed income or black money is against economic principles as well as politically detrimental to the country's citizens and fair...

Experts discuss economic challenges during second wave of Covid-19

Experts discuss economic challenges during second wave of Covid-19

-- 2021-05-09 22:08:25

ICSA Bangladesh, a non-profit service organisation, arranged its 20th session titled ‘Economic Challenges in the second wave of Covid-19: Bangladesh perspective’ on May 06, according to a...

Stocks open week on negative note ahead of Eid

Stocks open week on negative note ahead of Eid

FE ONLINE REPORT 2021-05-09 11:20:12

Stocks opened on a negative note on Sunday as investors opted for booking profit on quick-gaining stocks ahead of Eid Festival. There are two or three trading days left before Eid-ul-Fitr vacation wh...

LR Global demand amending mutual fund rules

LR Global demand amending mutual fund rules

FE REPORT 2021-05-09 10:19:10

The rules of mutual funds should be amended to ensure the sectors' expansion at a desired level and professionalism must be developed in the industry. The chief executive officer (CEO) of the LR...

ADB identifies customs key areas as obstacles to better service delivery

ADB identifies customs key areas as obstacles to better service delivery

DOULOT AKTER MALA 2021-05-09 10:03:11

The Asian Development Bank (ADB) has pointed out some key areas where customs crucially need to develop its capacities for trade facilitation. The areas include customs classification of goods, valua...

Experts for higher primary healthcare allocation in next budget

Experts for higher primary healthcare allocation in next budget

FE REPORT 2021-05-09 09:47:10

Experts on Saturday called on the government to raise the budgetary allocation for primary healthcare in a bid to cover the majority population in the country. Sustained investment in primary heal...

Crisis looms over Banarasi Palli

Crisis looms over Banarasi Palli

-- 2021-05-08 18:47:37

Dhaka’s markets are bustling with Eid shoppers who intriguingly ignore contagion fears and defy lockdown rules, but the Banarasi Palli is having none of it. The coronavirus crisis is having a d...

LR Global renews pledge to promote investment after 'difficult' days

LR Global renews pledge to promote investment after 'difficult' days

-- 2021-05-08 16:01:56

LR Global, one of the top fund managers in Bangladesh, has pledged to resume its efforts to promote foreign direct investment in the country, which were hindered in 2015. The fund manager also vowed...

Weekly market review: Stocks extend rally amid eased virus concerns

Weekly market review: Stocks extend rally amid eased virus concerns

BABUL BARMAN 2021-05-08 11:37:10

Stocks extended the winning streak for the fourth consecutive week as investors continued their buying interest based on better-than-expected earnings and eased virus worries. The week saw five tradi...

Bangladesh framing India-like rules to administer tariff preferences

Bangladesh framing India-like rules to administer tariff preferences

SYFUL ISLAM 2021-05-08 09:18:39

Bangladesh is enacting new customs rules to administer all the tariff preferences given under various bilateral, regional and multilateral pacts, officials have said. The new rules being framed by th...

Protect consumption, promote employment in next budget, Debapriya says

Protect consumption, promote employment in next budget, Debapriya says

UNB 2021-05-07 17:53:09

The government should prioritise consumption protection and employment promotion in the upcoming national budget amid the Covid-19 pandemic, said renowned economist and public policy analyst Dr Debapr...

MBL, AIBL mutual funds declare dividend

MBL, AIBL mutual funds declare dividend

FE REPORT 2021-05-07 10:29:34

The trustee boards of two closed-end mutual funds -- MBL 1st Mutual Fund and AIBL 1st Islamic Mutual Fund, managed by LR Global BD Asset Management -- have declared dividends for the year ended on Mar...

Some businesses using invalid, old BINs to evade VAT

Some businesses using invalid, old BINs to evade VAT

FE REPORT 2021-05-07 10:12:34

The revenue board has identified irregularities in using VAT registration number for export-import and other business activities. The National Board of Revenue (NBR) has found that the old invalid Bu...

Central bank issues guideline on MFS trust fund

Central bank issues guideline on MFS trust fund

FE REPORT 2021-05-07 10:07:40

The central bank on Thursday issued a guideline for trust fund management in payment and settlement services for mobile financial services (MFS), payment service provider (PSP) and payment system oper...

Insurance association demands withdrawal of 15pc VAT

Insurance association demands withdrawal of 15pc VAT

FE REPORT 2021-05-07 09:48:33

The Bangladesh Insurance Association (BIA) has demanded withdrawal of 15-per cent value-added tax (VAT) on reinsurance commission in the 2021-22 fiscal budget. Addressing a virtual press conference o...

Guarantee of public benefit sought for tax cut for telecom operators

Guarantee of public benefit sought for tax cut for telecom operators

FE REPORT 2021-05-07 09:45:12

The government's top brass wants guarantee from telecoms operators that the people of the republic benefit from the tax rate if reduced. It is true that tax rate on telecommunications is high and the...

Stakeholders want budgetary support for startups

Stakeholders want budgetary support for startups

FE Report 2021-05-07 09:39:52

Speakers at a discussion on Thursday recommended providing budgetary and policy supports to the startups for enhancing their rapid growth in the post-Covid period. "The startups can play a proactive...

Bangladesh's imports from ACU nations rise by 23pc

Bangladesh's imports from ACU nations rise by 23pc

Siddique Islam 2021-05-07 09:28:50

Imports from the Asian Clearing Union (ACU) member countries increased by more than 23 per cent in the March-April period of this calendar year, officials said. The amount of ACU payment rose to US$1...

Coronavirus hurts Bangladesh's apparel exports to US

Coronavirus hurts Bangladesh's apparel exports to US

MONIRA MUNNI 2021-05-07 09:20:35

Bangladesh's apparel exports to the US sustained a negative growth of over 8.0 per cent during the first quarter of 2021 year-on-year, showing a much slower recovery compared to China and Vietnam. US...

Union Bank to go public

Union Bank to go public

FE REPORT 2021-05-06 10:17:48

Union Bank, a fourth generation private commercial bank, has moved to raise a capital above Tk 4.0 billion from the capital market. To raise the capital, the bank will submit its IPO (initial public...

Over 60pc Bangladeshis lost jobs to Covid in March-April 2020: Survey

Over 60pc Bangladeshis lost jobs to Covid in March-April 2020: Survey

FE Report 2021-05-06 09:34:36

A survey found that 61.57 per cent people had lost their jobs in March and April last year, due to adverse economic impact of the Covid-19 lockdown. Only 15 per cent of these people returned to their...

Tk 6.0-trillion budget to be placed in parliament on June 3

Tk 6.0-trillion budget to be placed in parliament on June 3

FE REPORT 2021-05-06 09:21:20

The government is expected to place a Tk. 6.0 trillion national budget for the fiscal year (FY2021-22) in parliament on June 03 next, people familiar with the development said on Wednesday. They said...

Bangladesh to prepare action plan on post-LDC challenges within a month

Bangladesh to prepare action plan on post-LDC challenges within a month

-- 2021-05-05 22:07:21

Bangladesh is going to prepare an action plan within one month to tackle the possible challenges of Bangladesh’s graduation from the status of a least developed country (LDC) after sorting out t...

Stocks rise at opening amid rising turnover

Stocks rise at opening amid rising turnover

FE ONLINE REPORT 2021-05-05 11:08:12

Stocks opened higher on Wednesday as bargain hunters continued their buying appetite riding on regulatory initiatives and better than expected corporate declarations. The market opened higher and DSE...

Mutual Trust Bank declares 10pc stock dividend

Mutual Trust Bank declares 10pc stock dividend

FE ONLINE REPORT 2021-05-05 10:41:37

The board of directors of Mutual Trust Bank has recommended a 10 per cent stock dividend for the year ended on December 31, 2020. The final approval of the dividend will come during the annual genera...

Capital Market Stabilisation Fund Rules approved

Capital Market Stabilisation Fund Rules approved

FE Report 2021-05-05 10:12:51

The securities regulator has approved the Bangladesh Securities and Exchange Commission (Capital Market Stabilisation Fund) Rules, 2021 on receipt of public opinion. The BSEC earlier formulated the r...

Tax receipts from DSE slump 30pc in April

Tax receipts from DSE slump 30pc in April

BABUL BARMAN 2021-05-05 10:08:51

The government's revenue earnings from the Dhaka Stock Exchange (DSE) slumped by 30 per cent month-on-month in April as share sales by sponsor-directors fell sharply. Market insiders said low amount...

UCB to invest Tk 2b in venture capital, private equity funds

UCB to invest Tk 2b in venture capital, private equity funds

FE REPORT 2021-05-05 09:51:56

The United Commercial Bank Limited (UCB) will invest an aggregate amount of funds worth Tk 2.0 billion in a venture capital fund and a private equity fund as well. The bank's board of directors has t...

Economists, business leaders call for framing virus-centric budget

Economists, business leaders call for framing virus-centric budget

FE REPORT 2021-05-05 09:33:34

Economists and business leaders on Tuesday unequivocally criticised the existing budgetary provision for legalising 'black money' and said the opportunity is biased against the honest taxpayers. They...