The Income Tax Act 2023 came into effect in June. The law, which replaced the Income Tax Ordinance 1984, has received appreciation from various quarters. At the same time, it has created some concerns among finance and tax professionals regarding compliance challenges. 

MedEasy, a Dhaka-based online pharmacy startup, has managed to raise $750,000 in seed funding to expand services. 

Mobile financial service provider Nagad has announced an increase in charges for cash-outs while introducing new fees for fund transfers. 

Bangladesh has the potential to grab a bigger market share in the European Union (EU), even in case of garments, on the condition that there is product diversification.

Bangladesh’s imports of milk and cream plummeted to 118,000 tonnes in the last fiscal year of 2022-23, the lowest in eight years, after a section of consumers cut consumption of milk-based foods and beverages in a bid to manage costs amid heightened levels of inflation. 

Cotton waste is turning into a new cash cow for Bangladesh as it is increasingly being sold abroad although local garment exporters are in favour of retaining and recycling it.

Bangladesh Cold Storage Association (BCSA) yesterday questioned the estimates of government agencies of potato production reaching record highs this year, claiming it to be much lower. 

Summit Alliance Port Limited (SAPL) has signed a memorandum of understanding with Pristine Logistics & Infraprojects Limited, one of the largest integrated rail terminal operators in India, to form a joint venture to improve rail logistics in Bangladesh.

Sri Lanka’s worst economic crisis since its independence began in 2019. Experts attribute a plethora of reasons behind the crisis. First, after the end of the civil war in 2009, the country emphasised providing goods for the local market instead of trade, a decision that led to a continued trade deficit of more than $3 billion each year. Along with trade policies, tax cuts in 2019 led to a loss of government revenue of over $1.4 billion a year.

Bangladesh Brand Forum (BBF), in collaboration with Cannes Lions International Festival of Creativity, awarded 127 creative campaigns in the 12th edition of the prestigious advertising awards ceremony in Bangladesh, styled “Commward: Excellence in Creative Communication” at InterContinental Dhaka.

Starting from difficulties in securing visa and work permits to opening and settling of letters of credit (LCs) and an unavailability of tax-related materials and booklets in English language, there are numerous hindrances that Chinese investors face in Bangladesh.

The government should facilitate local motorcycle manufacturers in various ways to grab a share of the international export market, said Hafizur Rahman Khan, president of the Bangladesh Automobiles Assemblers and Manufacturers Association, yesterday. 

The government has initiated an agricultural project at a cost of Tk 209 crore with the aim to increase production of crops in char areas by expanding the use of modern technologies. 

Dairy farming in Bangladesh will get a boost once a dairy development board comes into being, hoped farmers yesterday regarding a bill being recently placed in parliament. 

Over 250 companies and 500 brands from home and abroad focusing the medical, hospital and laboratory fraternity have participated in a “2nd BANGLA MED & LAB EXPO” concluding at International Convention City Bashundhara in Dhaka yesterday. 

Russian Foreign Minister Sergei Lavrov explained why Russia “had to” start military intervention in Ukraine during his interaction with the Soviet Alumni Association, Bangladesh (SAAB) in Dhaka on Friday.

Habibur Rahman, managing director and CEO of South Bangla Agriculture and Commerce (SBAC) Bank, has resigned from his post citing personal reasons.

Feature phone production has more than doubled month-on-month in July as consumers turn to more affordable alternatives to smartphones amid sustained high inflation.

Bangladesh’s apparel shipments to the US declined 19.82 percent year-on-year in the January-July period this year in spite of a gradual improvement in retail sales.

The private sector credit growth in Bangladesh nosedived to single digit in July as both banks and borrowers face multiple challenges amid lingering economic uncertainty at home and abroad and the growing political crisis centring next year’s national elections.