Chinese company Mingda (Bangladesh) New Material Co Ltd will invest $76.41 million in Bepza Economic Zone to produce different types of cotton product.

Bangladesh Bank yesterday said that the upcoming commercial banks in the country will have to ensure Tk 500 crore as paid-up capital instead of the existing Tk 400 crore requirement.

Local garment suppliers will have to focus on making apparels wholly from recycled materials by 2030 as the H&M is going to abide by a European Union (EU) due diligence law on protecting the environment and human rights. 

The government has no other alternative but to borrow from the banking sector to meet the budget deficit, Planning Minister MA Mannan said yesterday.

It reached latest peak on June 14

IMED secretary says at CPTU's workshop

New applicants should have Tk 500 crore paid-up capital, up from existing Tk 400 crore

The company will produce different types of cotton product

Planning Minister MA Mannan says

The DSEX, the benchmark index of the bourse in Bangladesh, inched up 8 points, or 0.13 per cent, to 6,282 at 11:20 am.

The shipment of electrical and electronics goods from Bangladesh displayed an impressive growth of 48 per cent in July-May of the outgoing financial year on the back of improving product quality and government support, official figures showed.

The World Bank has launched a $1.03 billion inter-country connectivity project in the South Asia region that will lead to an increase in national income by over 16 percent in Bangladesh.

Mercantile Bank shareholders approved 10 per cent cash and 2 per cent bonus dividends for 2022. 

Mushroom production in the country has increased almost three times in the last 12 years thanks to technological innovation and reductions in production costs, according to the agriculture ministry documents. 

The fascinating story of the dollar has taken a new turn that is widely known as de-dollarisation. Countries are cutting their reliance on the US dollar as the reserve currency, the primary medium of exchange and the unit of account.

The Bangladesh Elevator Escalators and Lift Importers Association (BEELIA) yesterday demanded the withdrawal of the proposed duty on imports of elevators and escalators in the national budget for fiscal year (FY) 2023-24.

Bangladesh needs to improve on cumbersome government approval procedures, customs clearance delays, restrictions through customs duty and processes for receiving remittance to attract more Japanese investment, said Iwama Kiminori, Japanese ambassador to Bangladesh, yesterday. 

The advanced income tax (AIT) should be abolished as the National Board of Revenue’s overall capacity to realise taxes has expanded, according to Planning Minister MA Mannan.

Foreign investors in Bangladesh yesterday expressed concern over some provisions of a proposed income tax law alongside measures, including one on increasing the minimum tax on carbonated beverage makers. 

The Bangladesh Bank yesterday approved the guideline on digital banks, paving the way for establishing branchless banking operations, a development that is expected to accelerate cashless transactions and digital transformation.