Business

In Bangladesh, the micro, small, and medium enterprises (MSME) sector faces a financing gap of $2.8 billion, according to IFC, a member of the World Bank Group. With nearly 10 million SMEs contributing to about 25 percent of the country’s GDP, enhancing SME financing is key to boosting economic growth, it said on Tuesday, reports UNB. To explore the various ...

Eurostar services from the Netherlands to London will be suspended for six months from June next year. Renovation work in Amsterdam means officials will be unable to process cross-Channel passengers until 2025. Passengers from Amsterdam and Rotterdam to London will be required to change trains in Brussels. Outbound travel from London to the Netherlands will continue, according to Eurostar. Negotiations ...

Asian shares slipped on Monday ahead of potentially market-moving inflation data from the United States and Europe later in the week, and a meeting of oil producers that could stop, or extend, the recent slide in prices. One mover was gold, which climbed to $2,009 an ounce XAU= and briefly hit a six-month top of $2,017.82. GOL/ The approach of ...

Stockholm-headquartered multi-national high fashion brand H&M has announced that it will increase payments for its clothing items manufactured in Bangladesh to compensate for increased worker wages. H&M’s decision comes weeks after protests by garment workers in Bangladesh over wage hikes. The worker groups had deemed the wage hikes proposed by the government as insufficient, reports Wion news. According to Bloomberg, ...

Tesla is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty on its vehicles to 15 percent for the first two years of operations, the Economic Times reported on Friday. Reuters reported in August that India is working on a new EV policy to slash import taxes to as ...

The Central Bank of Sri Lanka has decided to reduce its Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 100 basis points to 9.00 percent and 10.00 percent, respectively, it said in a statement on Friday. The central bank said its monetary policy board arrived at this decision following a careful analysis of the current ...

Singapore’s economy grew more than expected in the third quarter, data showed Wednesday, while officials narrowed their full-year forecast owing to subdued demand for its exports in key markets including the United States and China. The 1.1 percent expansion in July-September was driven by the construction industry and services sector, including tourism. The reading from the trade ministry was better ...

Trading Corporation of Bangladesh (TCB) will purchase 11 million litres of soybean oil spending Tk 143.18 crore from an Indian company. The Cabinet Committee on Government Purchase on Wednesday approved procurement of 11 million litres of soybean oil according to the internationally approved open tender system at its 39th meeting held with Finance Minister AHM Mustafa Kamal in the chair. ...

The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), the apex organization of businessmen, has requested the National Board of Revenue (NBR) to extend the deadline for submission of income tax returns. The federation in a letter to the NBR Chairman said that due to the late publication of income tax circulars in line with the new Income Tax ...

The Dhaka Taxes Bar Association has urged the National Board of Revenue (NBR) to extend the deadline for submission of income tax returns for individual taxpayers for the current financial year 2023-2024. The DTBA on November 10 sent a letter signed by its general secretary Md Towhid Uzzaman Khan Dipu to the NBR, seeking two more months for the submission ...