Nearly five lakh additional establishments are expected to come under the tax net as the government is going to make proof of submission of return (PSR) mandatory for hotels, restaurants, clinics, and diagnostic centres.

Anyone unwilling to deal with the hassle of carrying a large amount of cash to buy sacrificial animals for Eid-ul-Azha can now make their life easier by visiting a cattle market offering cashless transaction facilities.

Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials say, as buyers snap up the metal to hedge against geopolitical and economic uncertainty.

Stocks returned from losses yesterday, reflecting buying sentiment among investors after a three-day decline as the tax measures for the next fiscal year had left them disappointed while concerns over unfavourable macroeconomic conditions persist.

The government plans to borrow Tk 137,500 crore from the banking sector in the fiscal 2024-25 to finance the budget deficit. If the Bangladesh Bank does not provide any fund, the entire amount will need to come from the commercial banks.

Strategic inefficiency, institutionalisation of corruption, and a lack of accountability are the three major barriers blocking the smooth progress of the economy, said economists, entrepreneurs and politicians yesterday.

The High Court postponed NRBC Bank’s annual general meeting slated for today, following a writ petition alleging irregularities at the bank.

The imposition of an additional 5 percent supplementary duty on mobile service usage and a Tk 100 increase in the VAT on SIM connections will negatively impact mobile consumers and the telecommunications industry, said industry players yesterday.

Export, import through Akhaura will resume on June 20

Monopolistic accumulation of market power, especially in terms of price-setting capability, may cause an increase in price and deterioration of quality of service as well as hamper innovation and competition

Monetary policy stance should be tight, the economist said in an MCCI-PRI organised post-budget discussion

The state is promoting injustice and moral hazard by allowing the holders of black money to legalise their undeclared assets through payment of 15 percent tax and without facing any questions, said the Centre for Policy Dialogue (CPD) today.

The services have received lukewarm responses from the targeted customers because they were launched hastily and lack user-friendly features and campaigns were not run to make them popular. Besides, there is no incentive and banks are unwilling, industry insiders said.

The DSEX, the benchmark index of the country’s premier bourse, dropped 0.70 percent to close the session at 5,070 points. This is the lowest point to be reached since December 9, 2020, when the index stood at 5069.88 points.

If someone receives a gift, they will have to show it in their income tax return at the end of the year. At the same time, the person who gives the present will also have to inform it in their income tax return.

The projection from the Washington-based lender comes a couple of days after the government targeted a 6.75 percent growth of the gross domestic product -- the final value of goods and services produced in an economy in a certain period -- for 2024-25.

A total of 22 firms will receive awards in recognition of their contributions to the industrial sector and encouraging creativity.

At least 10 percent of the internal development budgets of all ministries and their affiliated bodies should be dedicated to the procurement of software and IT-enabled services (ITES) from domestic IT companies, according to Ahsan H Mansur, executive director at the Policy Research Institute of Bangladesh.

Working for a leading trade bank in Bangladesh – one that manages a significant portion of our country’s foreign direct investments – gives me the opportunity to regularly connect with potential investors.

The government’s overdependence on the banking sector to finance its budget deficit will affect the financial sector as well as hurt private sector investment and employment generation, according to experts.