The government has amended the Customs Act, doubling the penalty for providing incorrect information in import and export documents even though wrong declarations do not lead to any duty evasion.

The stock market regulator today approved the amalgamation of Bangladesh Steel Re-Rolling Mills (BSRM) Ltd and its sister concern BSRM Steel Mills Ltd.

The stock market fell today thanks to the profit booking tendency of the investors.

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) thinks there are some inconsistencies in the present laws on value-added tax and income tax.

The Bangladesh Bank has extended the banking hour to 2:30 pm from July 8 hours during the lockdown.

Uttara Bank recently witnessed the appointment of a new vice chairman of its Board of Directors.

The proposed budget’s tax exemptions and corporate tax reduction are welcome moves for job creation but regulatory environment improvements and ease of doing business are also important to attract investment in manufacturing, said a webinar’s discussants.

June 3 marked a remarkable date for Bangladesh as the finance minister presented the country’s 50th budget in parliament on the occasion of the 50th year of independence. As expected, the Tk 603,681 crore budget is the largest that has ever been proposed.

Bureaucrats, despite being well trained and educated, are not smart enough to implement the budget in a timely manner, for which this perennial difficulty may persist, Planning Minister MA Mannan said yesterday.

Bangladesh Bank has instructed banks to keep their doors open for customers from 10:00am to 3:00pm until June 16.

The Real Estate and Housing Association of Bangladesh (REHAB) has demanded the provision of a long-term low interest fund in the proposed national budget for fiscal 2021-22 so that the country’s people can purchase their own homes on instalments equivalent to rent.

Textile millers yesterday demanded the withdrawal of value-added tax (VAT) and import duty on all kinds of manmade fibre for the potential growth of the non-cotton fashion industry to meet the global demand.

The government should ensure that stimulus funds for the cottage, micro, small and medium enterprises (CMSMEs) are quickly disbursed in order to facilitate sustainable recovery from the Covid-19 fallouts, according to speakers at a webinar yesterday.

The proposed budget has failed to offer fiscal measures to create jobs crucial to millions of the people in the informal sector who slipped to poverty because of the coronavirus pandemic, said experts yesterday.

Eleven banks faced a capital shortfall of Tk 24,783 crore in the first quarter of 2021, which highlighted the fragile health of the lenders.

Bangladesh Bank has instructed banks to keep their doors open from 10am to 3pm for customers until June 16.

The government needs to ensure vaccination for 70 percent of Bangladeshis as soon as possible but it has not prioritised vaccination in the proposed budget, said former Bangladesh Bank governor Atiur Rahman.

Turnover at the Dhaka Stock Exchange (DSE) hit a decade high today, which was the first trading day after the announcement of the national budget for 2021-22 fiscal year.

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.

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