Business

The government has made mandatory the submission of tax return by November 30, according to the Income Tax Act 2023. The Income Tax Act, 2023 received the President’s assent on June 22. The Income Tax Ordinance, 1984 was repealed and this new law was enacted. For informing about the new to stakeholders, National Board of Revenue (NBR) has started to ...

The Russian government named a list of more than 30 friendly and neutral countries including Bangladesh that will be allowed to trade in the Russian currency rouble and derivatives market. Russian Embassy in Dhaka confirmed on its verified facebook page on Saturday. The approved countries are Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Algeria, Bahrain, Bangladesh, Brazil, China, Cuba, ...

Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last installment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh Bank confirmed to UNB on ...

The Asian Development Bank (ADB) has approved a $100 million loan to improve computer science, software engineering and information technology (IT) programs in three universities in Bangladesh. “Uplifting software engineering program in higher education is the needs of time to accelerate fourth industrial revolution technology adoption and realize the vision of Digital Bangladesh,” said ADB Social Sector Economist Ryotaro Hayashi. ...

The Asian Development Bank (ADB) has approved a $100 million loan to improve computer science, software engineering and information technology (IT) programmes in three universities in Bangladesh. “Uplifting software engineering programme in higher education is the needs of time to accelerate fourth industrial revolution technology adoption and realize the vision of Digital Bangladesh,” said ADB Social Sector Economist Ryotaro Hayashi. ...

In an effort to keep the prices of eggs stable, the government again on Thursday approved the import of six crores of eggs. The government gave approval to six companies to import one crore eggs each, said a Commerce Ministry press release. Earlier, on September 18, four companies got approval to import 4 crore eggs and each company can import ...

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has sought cooperation from Government of Nepal to boost apparel export. A delegation representing the Ministry of Industry, Commerce and Supplies of Nepal held a meeting with BGMEA president Faruque Hassan at latter’s office in Dhaka on Wednesday. Both parties discussed issues of mutual interests, potential areas of collaboration, and trade and ...

Asian Development Bank (ADB) has projected Bangladesh’s gross domestic product (GDP) growth to be 6.5 per cent in the fiscal year 2024, compared to an estimated growth of 6 percent in fiscal 2023. The projection was made in the latest ADB report, ‘Asian Development Outlook (ADO) September 2023,’ released on Wednesday. The ADB in a press release said that the ...

Bangladesh Bank (BB) has observed that as a trade balance is prevailing now in the country, dollar price should not be high. “Now there is a trade balance here, the dollar price should not be high. Bangladesh Foreign Exchange Dealer’s Association (BAFEDA) and Association of Bankers, Bangladesh (ABB) set the dollar rate. We work with the rates they offer,” said ...

Turkish President Recep Tayyip Erdogan urged tech tycoon Elon Musk to open his next Tesla factory in Turkey, becoming the latest leader to lobby one of the world’s richest men. Erdogan and Musk have held a series of meetings both in Turkey and on the sidelines of international forums, developing a seeming friendship that they extended on Sunday in New ...