Business

The National Board of Revenue (NBR) has issued a notification withdrawing the existing customs and regulatory duties on onion imports. According to an NBR statutory regulatory order (SRO), the total duty on onion imports has been reduced from 10 per cent (customs duty 9.0%+regulatory duty 5.0%) to 0 per cent. This means importers will not have to pay any import ...

Asda has confirmed 475 roles at their head offices in Leeds and Leicestershire will be cut and hybrid working reduced as part of a business restructure. The retailer said the move, which would affect less than 10% of its head office staff, would enable it to “simplify structures” amid a challenging market. In a note to employees on Tuesday, the ...

Some one million taxpayers have completed registration for online income tax return filing using the e-return option of www.etaxnbr.gov.bd portal with voluntary participation. The number of online income tax return filings has crossed 2,00,000, according to the National Board of Revenue on Tuesday. The NBR has invited all taxpayers to file return online for smooth return filing and hassle-free service, ...

Bitcoin soared to a new record high on Wednesday as traders bet on victory for Donald Trump in the US presidential race, with the tycoon seen as the pro-crypto candidate. The digital currency hit as much as $75,005.08 at around 0300 GMT, topping its previous all-time peak of $73,797.98 achieved in March. “The price of bitcoin has closely followed Trump’s ...

After raising the prices of 12kg of LPG cylinder four consecutive times, the price has been lowered by Tk 1 at consumer level for the month of November. The price of a 12kg LPG cylinder has been fixed at Tk 1,455 for the month of November, down by Tk 1 from Tk 1,456 the previous month. Bangladesh Energy Regulatory Commission ...

The dollar slid on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields, reports Reuters. The euro extended an early climb to be up 0.5% at $1.0891 and looked set to test resistance ...

Sainsbury’s has said it will match the price of up to 200 Aldi products in its smaller stores as it battles rivals to get more customers in its convenience stores. Shopping locally for groceries may be handy but people who rely on convenience stores can end up paying far more. Campaigners have criticised retailers for not doing enough to close ...

In response to recent reports suggesting a payment deadline for Bangladesh, Adani Group clarified on Sunday that it has not demanded full payment of outstanding dues within a seven-day period. Instead, the group emphasized its ongoing cooperation with the Bangladesh Power Development Board (BPDB) to address and resolve any issues related to payments, according to a statement from its PR ...

A Chinese company ‘Xingchen Textile Co Ltd’ is set to invest US$ 35.03 million to establish a textile industry in the Mongla Export Processing Zone (Mongla EPZ). The company will produce 20,000 metric tons of yarn and 12,000 metric tons of woven fabrics annually by recycling garment wastage, commonly known as ‘Jhut’, said a press release. Bangladesh Export Processing Zones ...

Bangladesh has significant potential for mobilising revenue collection, as highlighted by a recent official assessment on revenue buoyancy, a measure reflecting how tax revenues respond to economic growth. Revenue buoyancy, the responsiveness of revenues to gross domestic product (GDP), is a critical metric for gauging the performance of a revenue system and the forecast for revenue growth. A buoyancy coefficient ...