The WB measured VAT losses based on an analysis of the VAT gap -- an estimate of the overall difference between theoretical VAT revenue and the amount actually collected.

Overall exports posted a 4.39 percent growth to $43.55 billion in the July-March period of the current financial year.

The Real Estate and Housing Association of Bangladesh (REHAB) has demanded the formation of a "monitoring cell" to determine the prices of construction materials and ensure the quality of products.

There were also positive changes in the market capitalisation of food and allied, engineering, and telecommunication scrips, it said.

With tax exemptions for the information technology (IT) and IT-enabled services sector ending after this fiscal year, ICT entrepreneurs are demanding the continuation of such incentives for seven more years to help build a ‘Smart Bangladesh’.

Reforms need to be brought about over revenue generation, currency exchange rate, banking and public expenditure, the four areas vital to the country’s economic performance, through the upcoming national budget, suggested an economist yesterday.

BRAC Bank PLC registered a 35 percent increase in profit to Tk 827.50 crore last year thanks to its focus on small and medium enterprises (SME) and technology-based customer services, which added over 3.60 lakh new customers.

The government should come up with a clear guideline complying with the global best practices before compelling banks to merge, the World Bank has said.

Traffic congestion inflicted by unplanned urbanisation and expansion reduces the country's overall GDP by 2.9 percent.

Nasir announced that three organisations of the lighter vessel owners would start giving serials and allocating vessels from a single platform from March 23.

If chemical traders refuse to relocate from Old Dhaka to Shyampur immediately, the Dhaka South City Corporation (DSCC) will initiate a combing operation after Eid-ul-Fitr, said Sheikh Fazle Noor Taposh, the mayor of DSCC

The WB said before initiating any merger processes, detailed guidelines on mergers and acquisitions need to be issued, allowing banks a clear idea about the process involved

The central bank of Bangladesh has tightened the monetary policy but its transmission has been hindered by the SMART lending rate cap since it slows pass-through to lending rates due to the use of a moving average, the World Bank said in a report today.  

Bangladesh’s real GDP growth is projected to remain relatively subdued at 5.6 percent in the current fiscal year, compared to the average annual growth rate of 6.6 percent over the decade preceding the Covid-19 pandemic, the World Bank said today.  

The recently updated Income Tax Act (2023) is an opportunity to increase income tax collection by expanding the tax base through improved compliance and tax services, it said in its Bangladesh Development Update report

The interest costs for domestic loans increased 13.58 percent to Tk 42,313 crore while the same for foreign credits surged 195.81 percent to Tk 7,910 crore.

Subject to eligibility, customers can instantly borrow Tk 500 to Tk 30,000 to directly buy a product or service. No interest will be imposed if the loan is repaid within seven days.

Mobile network operators -- Grameenphone, Robi, Banglalink and Teletalk -- collectively added about 9.2 lakh customers during the month, taking the total mobile subscriber base to 191.3 crore.

Some 12,375 farmers in 26 districts will be provided free-of-cost incentives in the form of hybrid cotton seeds, urea, Diammonium phosphate (DAP), Muriate of Potash (MoP), and pesticides.

In its daily market update, Shanta Securities said the market movement was driven by negative changes in the market capitalisation of travel and leisure, paper and printing, and bank scrips.