Tuesday, 22 Jun, 2021

Business

Govt to address concerns over LPG pricing soon

The government will address the concerns raised by the Liquefied Petroleum Gas (LPG) operators on tariff adjustments at the next hearing of the energy regulator.  “The concerns of LPG operators on retail tariff rates are likely to be settled in the upcoming public hearing of

City Bank signs special partnership with JCI Bangladesh

City Bank and Junior Chamber International (JCI) Bangladesh have recently signed a special agreement, said a press release.  Under the agreement, City Bank and JCI will work together for ensuring women's empowerment through organizing various workshops, seminars and training

BERC’s one-sided price order ruining LPG Industry: LOAB 

LPG Operators Association of Bangladesh (LOAB) has said the country's LPG industry is facing destruction due to Bangladesh Energy Regulatory Commission's (BERC) one-sided price order. The association made the statement on Tuesday (June 15) at a press conference in the

Dual rules in bitumen sector: Heavy tax on local production, importers get tax waiver

The dual rules regulating the bitumen sector are taking a heavy toll of tax on the local producers and granting tax waiver and other privileges to the importers --- creating an uneven competition in the market. Damage of the roads and highways due to the use of substandard imported

Bashundhara to supply LPG to Jamuna Oil

Bashundhara LP Gas Ltd will supply liquefied petroleum gas (LPG) to the autogas stations of state-owned Jamuna Oil Company Ltd apart from setting up pumps at the establishments. Both the companies signed an agreement to this end at a meeting held at the Jamuna Bhaban in the capital on

LankaBangla gets $15m loan from BlueOrchard Microfinance Fund

LankaBangla Finance Limited, one of the leading NBFIs in Bangladesh, has received a loan of USD15 million from BlueOrchard Microfinance Fund managed by a Switzerland based impact fund manager BlueOrchard Finance Limited.  This is the second cross border debt transaction for

10am-3pm banks transaction until June 16

Banks will continue their existing limited hour- transactions from 10 am to 3 pm on workdays until June 16. Bangladesh Bank issued a circular on Sunday for all banks in line with the Cabinet Division’s latest directives on the countrywide restrictions amid Coronavirus

G7 nations reach historic deal to tax multinationals

The G7 group of advanced economies has reached a "historic" deal on taxing multinational companies. Finance ministers meeting in London agreed to battle tax avoidance through measures to make companies pay in the countries where they do business. They also agreed in

Tax exemption to IT service providers for 4 years proposed

Finance Minister AHM Mustafa Kamal has proposed tax exemption to IT service providers for four years in the next budget. He said: "I propose to offer tax exemption facility to providers of cloud service, system integration, e-learning platform, e-book publications, mobile

Cabinet approves proposed national budget for FY 2021-22

The cabinet on Thursday approved the proposed national budget for the fiscal year 2021-22. The budget was approved on Thursday, during a special meeting presided over by Prime Minister Sheikh Hasina, held at the cabinet room in the Jatiya Sangsad building, sources at the parliament

Amazon, Google register for VAT with NBR

Google and Amazon have acquired Business Identification Number (BIN) from the National Board of Revenue last week to run their business in Bangladesh while ensuring value added tax (VAT) compliance. They will now pay a 15% VAT on revenue earned from the country. Google and Amazon

US and China trade officials hold 'candid' first talks of Biden era

The US and China's top trade negotiators have held "candid, pragmatic" talks, in their first meeting under the Biden presidency. US Trade Representative Katherine Tai and Chinese Vice Premier Liu He held a virtual meeting on Thursday. Both sides said they discussed the

‘Use of low-quality bitumen worries govt, public’

Bangladesh Jatri Kalyan Samity Secretary General Mozammel Hoque Chowdhury recently said that use of low-quality bitumen wastes a lot of public money and investment of vehicle owners. The common people of the country have to bear the burden of state expenditure, including the sufferings

Money laundering in the name of bitumen import!

A huge volume of money is being laundered through over-invoicing in the name of bitumen import. Analyzing the volume of bitumen import, quality and international market price, it was found that around Tk 14,000 crore has been laundered through over-invoicing in the name of bitumen

Manufacturers fear further hike in cement price

The price of the cement is going to be hiked in the local market in the face of raw material import adversities. The problems relating to shipping of the clinkers and other raw materials are responsible for the price hike, source said. Cost and freight of clinker at Chattogram port

Gold price rises by Tk 2041 per bhori

Bangladesh Jewellers' Association (BAJUS) has decided to increase the price of gold in the domestic market again within two weeks by Tk 2,041.20 per bhori as the price of gold is increasing in the international market. The new rate will be effective from Sunday (May 23), says a

Owners want to reopen restaurant with 50pc capacity

The restaurant owners on Saturday placed their demands including allowing restaurants to reopen following health guidelines or to serve maintaining 50 percent capacity. Imran Hasan, secretary general of the association, placed a written statement in this regard at a press briefing.

Provision for whitening money to continue: Finance minister 

Finance Minister AHM Mustafa Kamal on Wednesday said that the provision for whitening undisclosed money would remain in the national budget for the next fiscal. He also said the government would continue this until the undisclosed money is legalized fully.  The Finance Minister

Low-quality bitumen entering country in absence of proper testing

Low-quality bitumen is being imported and used frequently in road construction as the item does not face proper testing. It has been learnt that imported bitumen is entering the country without any certification and approval from Bangladesh Standards and Testing Institution (BSTI),

Indian new strategic oil reserves to be run privately

In a major development, a private firm or consortium will run the two new underground crude oil storage facilities planned in Odisha and Karnataka in a move that discards an earlier plan by the government to build these reserves through the public sector Indian Strategic Petroleum