Business

The global credit rating agency Moody’s Ratings has downgraded Bangladesh’s long-term rating to B2 from B1. The rating outlook has been changed to “negative” from “stable” earlier due to mayhem in the financial sector and political risk in Bangladesh. A Moody’s rating is an opinion of the creditworthiness of an issuer or the credit quality of a specific obligation. Moody’s ...

The National Board of Revenue (NBR) has extended the income tax returns submission date to December 31, considering application of taxpayers. The NBR issued an order to this end on Sunday (November 17) extending the deadline by one month. In a statement, the NBR’s public relations division announced that the deadline extension came in response to requests from taxpayers across ...

The Anti-Corruption Commission (ACC) has summoned 13 top officials of Bangladesh Bank (BB) in investigation into the allegations of laundering thousands of crores of money by S Alam Group and its associates. A letter, signed by investigation officer deputy director Yasir Arafat, was sent to the central bank governor. The 13 officials have been asked to appear before the ACC ...

The National Board of Revenue has extended the time for filing income tax returns by one month. The NBR issued an order in this regard today (17 November) extending the deadline to 31 December 2024, which applies for both online e-returns and physical paper submissions. Submissions within the period will not face any penalties. As per the Income Tax Act, ...

Fisheries and Livestock Adviser Farida Akhter has sought Brazilian investment in Bangladesh for stronger economic ties between the South Asian and Latin American nations. “I urge you to secure the first investment during your tenure,” she told Brazilian Ambassador to Bangladesh Paulo Fernando Dias Feres at a reception on Friday. Brazil embassy in Dhaka hosted the reception marking Brazil’s 202nd ...

Finance adviser Dr Salehuddin Ahmed has said although the interim government inherited high inflationary trend from the previous regime, stability has been restored due to various steps of the government. “The previous situation now does not exist as stability has been restored although not fully. Earlier, the economy became sloth, but now it’s not sloth rather moving forward. When anything ...

The Bangladesh Jeweler’s Association, BAJUS, has reduced the price of 22 carat gold by Tk 1,680 to Tk 1,34,509 per bhori. Besides, 21-carat gold was cut by Tk 1,580 to 1,28,397 a bhori (11.664 grams), 18-carat by Tk 1,364 to Tk 1,10,062, and gold of traditional method by Tk 1,178 to Tk 90,233 respectively, BAJUS said in a statement on ...

The Dhaka Stock Exchange (DSE), the country’s main capital market, indexes saw an upward trend in the first hour on Thursday. Till 11am on the day, the trading record in the DSE shows, shares and units of 5.53 crore exchange through 53763 transactions. In this time shares and mutual funds worth Tk 163.4 crore were traded. A total of 369 ...

Chancellor Rachel Reeves is planning what she calls the “biggest pension reform in decades” in an attempt to boost growth. The government wants to merge the UK’s 86 council pension schemes into a handful of “pension megafunds”. It is hoped the changes will lead to billions of pounds being invested in the UK in areas such as energy infrastructure, tech ...

Up to 115 Post Office branches and hundreds of head office jobs are at risk as part of a radical shake-up of the business. The Post Office is looking at options for its wholly-owned branches, which currently employ about 1,000 workers and are loss-making. These could include alternative franchise arrangements where an operator like the retailer WHSmith or another third ...