The stock market in Bangladesh opened lower today as well, extending the losses it incurred in the last several days.

The Dhaka Stock Exchange (DSE), the premier bourse in Bangladesh, has welcomed the proposed budget for the fiscal year of 2022-23 even though general investors have reacted negatively, sending the key index lower in the last two trading sessions.

The production cost of steel makers in Bangladesh is going to increase as the revenue authority seeks to hike the value-added tax on rod and other steel products by up to 20 per cent, two leading producers said yesterday.

Bangladesh has once again called upon nations not to put any restrictions on their food grain exports and sought the continuation of its TRIPS waiver until December 31, 2032, to save the lives of people and newborns.

Two companies, which handle a major portion of Bangladesh’s hydrogen peroxide exports, have been forced to stop production as most shipping lines are declining to carry the chemical following a deadly fire at an inland container depot (ICD) last week.

The profits of state-owned enterprises in Bangladesh fell to their lowest in nine years, owing to higher commodity prices in the global market and selling of essentials among the poor and low-income groups at subsidised rates.

Bangladesh Bank yesterday asked banks to seriously look into and resolve complaints of clients over their financial services so that none faces further hassles. 

The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 92.50 on the interbank platform yesterday.

LankaBangla Securities has signed a memorandum of understanding with Chartered Life Insurance Company making beneficiary owners (BO) account holders eligible for insurance coverage in case of death and permanent disability.

Bangladesh Bank today asked banks to seriously look into and resolve complaints of clients over their financial services so that none faces further hassles.

The local currency today depreciated further against the US dollar, hitting Tk 92.50 for each greenback in the interbank platform.

The regular taxpayers will feel discouraged if there remains an option to whiten money by paying only 7 per cent tax, said Humayun Rashid, president of IBFB.

The stock market index continued to fall today for the second consecutive day since the announcement of the proposed national budget for 2022-23 fiscal year.

The Dhaka Stock Exchange (DSE), the prime bourse of Bangladesh, welcomed the proposed national budget for the fiscal year 2022-23 although the general investors reacted negatively and the stock index dropped in the first two days of trading in the week.

The stock market in Bangladesh continued to fall for the second consecutive day today after the conditional measures on corporate tax cuts for companies in the proposed national budget for the next fiscal year.

The government is planning to formulate a national quality policy to ensure the local manufacturing of products at global standards, which will pave the way for Bangladesh to increase exports, Industries Minister Nurul Majid Mahmud Humayun said yesterday.

The domestic stock market took a dive yesterday, the first trading session since Finance Minister AHM Mustafa Kamal proposed the national budget for the fiscal year of 2022-23 in parliament on Thursday.

The government has cut its target on food distribution, which supports poor and low-income people, by 5 per cent to 30.95 lakh tonnes in the next fiscal year from the revised budget of 2021-22, finance ministry documents showed.

The monetary policy must be used as a proper tool to contain demand, reduce inflation, and stabilise the exchange rate in Bangladesh, a noted economist said yesterday.

A high risk of cyber-attacks looms large over 36 per cent of banks in Bangladesh mainly due to a shortage of investment in strengthening security measures, skilled personnel and a lack of awareness among bankers and customers.