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Salman leads business delegation to KSA

A ten-member business delegation, led by Salman F Rahman, former president of FBCCI and Vice Chairman of Beximco Group, will leave Dhaka for Saudi Arabia today (Friday) as part of Prime Minister Sheikh Hasina’s 5-day official visit to KSA (Kingdom of Saudi Arabia). The prime minister’s Saudi visit is considered very significant as Bangladesh holds huge potential to attract Saudi investment, a press release said. bd-ksaThe business delegation leader Salman F Rahman is also very optimistic to woo Saudi investment. “As Bangla...

BGMEA urges govt to revise tax on sources

Terming some initiatives of the national budget for fiscal 2016-17 as encouraging for industrialization, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today said the proposed 1.50 percent tax on source would hinder the goal of export earning envisaged by the government in line with vision-2021. "Some initiative might pave the way of industrialization, but 1.50 percent tax on sources would directly create hindrance the evolvement of industrialization," said BGMEA President Md. Siddiqur Rahman in a media briefing that organized to pass their reaction on the proposed national budget, reports BSS. Mentioning that 1.50 percent tax on source would increase 150 percent direct tax, he said "any wrong

VAT increase to lead SME sector feel the heat

Finance Minister  AMA Muhit, MP, proposed the National Budget for 2016-17 FY in the National Parliament on 2nd June 2016. The size of the proposed budget is Tk. 3 Lac 40 Thousand 605 Crore, where non-development expenditure is 2 Lac 29 Thousand 900 Crore, development expenditure is Tk. 1 Lac 10 Thousand 700 Crore and total deficit is Tk. 97 Thousand 853 Crore, which is 5% of GDP. In the proposed budget, the total revenue was targeted at Tk. 2 Lac 42 Thousand 752 Crore, where NBR earnings were projected as Tk. 2 Lac 3 Thousand 152 Crore which is 35.4% higher than the corrected target of the running FY, and non-NBR earnings were projected as Tk. 39 Thousand 600 Crore. This target of revenue earnings, without any doubt, can be termed as ambitious and seems to be ‘not so easy to ...

Mobile phone use to get costlier

Mobile phone use cost will increase in the next fiscal as Finance Minister AMA Muhith proposed to hike the duty on SIM card-related services to 5 percent. Currently, there is a 3 percent supplementary duty on all kinds of mobile service use. In his proposed budget, Muhith set a 5 percent duty. Mobile phone operators feared this will badly impact their earnings and network expansion mobiledeviceplan. “No doubt after implementing this tax users will reduce their uses,” said a top official of a leading mobile phone...

IBBL approves 20pc cash dividend

Islami Bank Bangladesh Limited (IBBL) has approved 20% cash dividend for the shareholders for the year 2015. The dividend was approved in the 33rd Annual General Meeting of the Bank held on  Thursday at Bangabandhu International Conference Centre in the capital. The meeting approved the balance sheet ended at 31st December 2015, Profit and Loss Account and Reports of the Directors and Auditors of the Bank. Engr. Mustafa Anwar, chairman of the bank presided over the meeting. Mohammad Abdul Mannan, Managing Director & CEO and Sheikh Moulana Mohammad Qutubuddin, Chairman of the Shari`ah Supervisory

Inter-Univ debate contest at RU on Friday

Inter university debating contest titled “Bisk club-BFDF National Debate fest-2016” will held at Rajshahi University which is arranged by Business studies Faculty Debating Forum (BFDF). IMG_3547BFBF has organized the debate contest for the forth times where 32 teams from public and private Universities across the country are expected to participate. Rajshahi Law Maker Fazle Hasan Badshah will inaugurate the inaugural programme at RU dean’s complex and RU vice chancellor Prof Chowdhury Sarwar Jahan will present as specia...
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