Business

Artificial intelligence presents a “vast potential” for rejuvenating UK public services, Prime Minister Sir Keir Starmer said on Monday. In a speech setting out the government’s plans to use AI across the UK to boost growth and deliver services more efficiently, the Prime Minister said the government had a responsibility to make AI “work for working people”. The AI Opportunities ...

Expatriate Bangladeshis sent $736.61 million remittances during the first eleven days of January in the 2024-25 fiscal year, reports BSS. Of this, remittances through state-owned and specialised banks accounted for $226.78 million, while private banks received $507.33million, according to Bangladesh Bank (BB) data released on Sunday.

Business leaders have raised serious concerns to the Bangladesh Bank Governor over the proposed hike in gas prices, along with a host of other economic challenges that are increasingly hindering operations. “The high interest rates on bank loans, energy shortages, escalating fuel prices, the withdrawal of export incentives, increased taxes, and mounting pressure to raise workers’ wages have created an ...

Money laundering activities has stopped as good governance established in the country, said Bangladesh Bank Governor Ahsan H Mansur on Saturday. “Despite political instability, remittance flows have reached their highest levels in recorded history.” Speaking at the Branding Bangladesh event in the capital on Saturday, the Governor highlighted the steps being taken to recover the siphoned off funds and strengthen ...

Retail sales of electric and hybrid vehicles in China witnessed a significant increase of 40.7% in 2024 compared to the previous year, as reported by a professional federation on Thursday. This remarkable growth underscores China’s dominance in a sector heavily supported by government initiatives. The China Passenger Car Association (CPCA) revealed that a record total of 10.899 million hybrid and ...

The pound has fallen to its lowest level in over a year, while UK borrowing costs hit their highest for 16 years. Economists have warned that the rising costs could lead to further tax increases or spending cuts as the government tries to meet its self-imposed rule not to borrow to fund day-to-day spending. In response to an urgent question ...

Asian markets struggled Thursday after a tepid lead from Wall Street, with investors growing increasingly worried about the outlook for inflation and US interest rates as Donald Trump’s second presidency looms. A report saying the president-elect was considering declaring a national economic emergency to provide legal cover to impose tariffs on all imported goods added to the sense of uncertainty ...

Bangladesh Restaurant Owners Association has urged to keep away from the decision to increase VAT rates in hotels and restaurants. They have also threatened to shut restaurants for an indefinite period if the decision is not withdrawn. The warning came from a press briefing held at a hotel in the capital on Thursday morning. Imran Hasan, secretary general of the ...

The government has set the income tax rate at 20 per cent on the manufacturers of freezers, refrigerators, motorcycles, air conditioners and compressors. A gazette notification was issued in this regard on Tuesday (January 7). It was signed by NBR chairman Abdur Rahman Khan. Currently, the companies pay a 10 per cent tax on their income. The government has been ...

Shoppers spent more in December compared with the year before but it wasn’t enough to make up for an overall lacklustre year for retailers, new figures suggest. Doing particularly well over Christmas were gifts including beauty advent calendars, jewellery and AI-enabled tech, the British Retail Consortium (BRC) said. December’s growth of 3.2% was boosted by a big weekend of Black ...