Business

Gold prices have been reduced again in the domestic market, with the Bangladesh Jewellers Association (BAJUS) lowering the price of 22-carat gold by Tk3,324 per bhori. As per today’s gold price update, the price of one bhori (11.664 grams) of 22-carat gold, including VAT, has been set at Tk221,966. BAJUS announced the new prices in a statement on Thursday (9 ...

The Bangladesh Energy Regulatory Commission (BERC) has cut the price of Jet A-1 aviation fuel for the fourth consecutive time since May. For July, the price for domestic flights has been reduced to Tk 130.99 per litre from Tk 150.21, a cut of Tk 19.22. Duty- and VAT-free jet fuel for domestic and foreign airlines operating international flights has been ...

The United States on Tuesday re-imposed sanctions on Iranian oil, as a US official warned that Iran’s attacks on vessels in the Strait of Hormuz were “wholly unacceptable” and would be met with consequences. Oil prices were up more than 5 percent following the announcement. The US Treasury had authorized last month Iran oil sales until Aug 21 as part ...

The mountain of defaulted loans has become the banking sector’s most pressing challenge, placing a prolonged strain on the economy. To address the problem, the government is set to establish specialised Distressed Asset Management Companies (DAMCs) to purchase, restructure and dispose of defaulted and written-off loans. Under the proposed framework, DAMCs will be authorised to acquire distressed loans, restructure and ...

Gold prices in Bangladesh have fallen again after two consecutive hikes, with the Bangladesh Jewellers Association (BAJUS) reducing the price of 22-carat gold by Tk3,266 per bhori. Under the revised rates, the price of one bhori (11.664 grams) of 22-carat gold has been fixed at Tk225,290, including VAT. The new prices came into effect from 12:15pm on Monday, according to ...

The National Board of Revenue (NBR) has urged taxpayers across the country to remain vigilant against a group of fraudsters who are impersonating tax officials and attempting to extort money by falsely claiming that taxpayers’ files have been selected for audit. In a press release issued today, the NBR said it has recently observed that fraudsters are contacting taxpayers from ...

State Minister for Local Government, Rural Development and Cooperatives, Mir Shahe Alam, MP, has called for effective initiatives to modernise products manufactured by cooperatives and expand their exports to both domestic and international markets. He made the call while addressing a discussion meeting marking the 104th International Day of Cooperatives, at the Multipurpose Hall of the Department of Cooperatives in ...

Terminated officials of HSBC Bangladesh on Saturday accused the multinational bank for violating local labor laws, misleading the regulatory authority and depriving employees of their rightful financial benefits following the closure of its retail banking operations. The allegations were raised in a press conference, organized by the deprived HSBC officials, at the Economic Reporters’ Forum (ERF) auditorium in the capital’s ...

Bangladesh Navy under the Official Security Assistance (OSA) received five patrol boats from Japan as part of efforts to strengthen security cooperations between the two countries. This is the first OSA project for Bangladesh, which was decided by the government of Japan as OSA FY2023 Project, said Japanese Ministry of Foreign Affairs on Friday adding that this aims to assist ...

The Bangladesh Jewellers’ Association (Bajus) has raised gold prices for the second consecutive day, increasing the price of 22-carat gold by Tk4,374 per bhori to Tk228,556, including VAT. The new rates were announced on Friday after local pure gold prices increased. Under the revised rates, 21-carat gold will cost Tk218,292 per bhori, 18-carat gold Tk187,440 and traditional-method gold Tk153,148, all ...