The government has shifted its focus from power generation to transmission and distribution as the sector is struggling with overcapacity even though consumers are yet to receive a credible supply of electricity.

Despite a 2.5 percentage point corporate tax reduction, listed and non-listed companies might end up paying more tax than that last year because of a new plan to increase the tax deducted at source (TDS), said the ICAB yesterday.

Garment exporters yesterday demanded the continuation of the existing 0.5 per cent source tax for the next five years.

The issues of poverty, the job market, small and medium enterprises, and coronavirus vaccinations have been underestimated in the budget proposed for the next fiscal year, said the South Asian Network on Economic Modeling (Sanem) yesterday.

Malaysia has showcased keenness on investing in Bangladesh for being one of the fastest growing economies amidst the pandemic, said discussants at an online event jointly organised by Standard Chartered and Bangladesh Investment Development Authority yesterday.

Major airlines are pressing the United States government on its decision not to move quickly to relax Covid-19 restrictions that block travelers who have been in much of Europe and elsewhere even as other countries began to ease prohibitions.

The Reserve Bank of India (RBI) kept interest rates at record lows on Friday and announced additional bond purchases to support the economic recovery, at risk of being derailed by a devastating second wave of Covid-19 infections.

City Bank has been named “Best bank in Bangladesh 2021” by Hong Kong-based international publication FinanceAsia recently.

Canada lost more jobs than expected in May amid continued lockdowns to curb a harsh third wave of Covid-19, data showed on Friday, but economists were quick to predict a rush of hiring in June as those restrictions ease.

Pubali Bank recently witnessed the unanimous reelection of the chairman of its Board of Directors.

US Federal Reserve chief Jerome Powell said Friday it was not the central bank’s role to set climate policy, a stance rejected by European counterpart Christine Lagarde who warned that “the planet is burning”.

The United States added 559,000 jobs last month as hard-hit sectors rehired workers laid off during the worst days of the pandemic, but analysts warned the virus was continuing to complicate the economy despite massive government stimulus.

Hotels, restaurants and other businesses are boosting pay as they try to rebuild their staffs and meet increasing demand from Americans ready to venture out as pandemic-related restrictions are lifted and more people are vaccinated.

The Bangladesh Chamber of Industries (BCI) has said private sector and industries of the country will be benefited from the government’s tax measures in the proposed budget for 2021-22 fiscal year.

Bangladesh Association of Software and Information Services (BASIS) has welcomed the new national budget, but it expressed its worries as the fiscal plan did not include the proposals placed by the association.

The government requires an integrated transition in all areas of the economy to achieve the GDP growth target of 7.2% set for the 2021-22 fiscal year, said the Institute of Chartered Accountants of Bangladesh (ICAB) today.

The government can think of allowing investment of undisclosed money in the productive sector for some time, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Money is not a problem for the implementation of the proposed budget, but vaccination has become the main concern now to bring back the business confidence, Unnayan Shamannay said today.

The garment exporters today demanded continuation of the existing 0.5 per cent source tax for the next five years.

A group of the world's richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world's biggest companies.