Govt extends duty benefits for six months

The government has allowed duty benefits on the import of personal protective equipment and its raw materials for local manufacturing by additional six months. On January 07, the finance ministry issued a circular in this regard while the National Board of Revenue (NBR) issued a statutory regulatory order extending the benefits until June 30 this year. The terms of the benefits ended on December 31 last.Importers and manufacturers will enjoy the benefits, including exemption from the payment of customs duty, regulatory duty, supplementary duty, value-added tax, advance tax and advance income tax on the imports of 17 types of products.On December 28, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Dr Rubana Huq, in a letter to NBR, requested extending the duty benefits until the Covid-19 vaccine is available.The products that will enjoy the extended duty benefits included COVID-19 test kits based on immunological reactions, disinfectants in bulk, COVID-19 test kits based on polymerase chain reaction nucleic acid tests, protective garments made from plastic sheeting, plastic face shields, N95 masks, KN95 masks, protective spectacles and goggles, other breathing appliance, gas masks and COVID 19 diagnostic test instruments and apparatus. The raw materials are isopropyl alcohol, felt of textile materials, different types of non-woven man-made filaments and other fabrics impregnated with polyvinyl chloride, ear bands for masks and nose protector clip masks, according to officials.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-extends-duty-benefits-for-six-months-1610383730

Core index crosses 5700-point mark after 22 months

Dhaka bourse closed the Monday’s session with a sharp rise in broad index which crossed 5700-point mark after 22 months riding on investors’ increased participation. Of the major sectors, telecommunication and pharmaceuticals & chemicals played the pivotal role behind the sharp rise of the broad index. After half an hour, the DSEX rose steadily till mid-session and finally the broad index closed the day’s session with a rise of 1.50 per cent or 84.70 points to close at 5718.75 points. Previously, the DSEX closed at 5710 points on March 3, 3019. The DS30 index comprising blue chip securities closed at 2123.96 points with a rise of 2.74 per cent or 56.77 points. Of 360 issues traded, 128 advanced, 180 declined and 52 were unchanged on the premier bourse DSE. At the end of the session, the DSE featured a turnover of above Tk 16.75 billion which was 11.29 per cent higher than the turnover of the previous session. Of total turnover, Tk 611 million came from transactions executed in block board.Investors’ activities were concentrated mostly on pharmaceuticals & chemicals sector which grabbed 16 per cent of the market turnover followed by miscellaneous 14.2 per cent, financial institutions 11.2 per cent, and bank 8.1 per cent. Beximco topped the scrip wise turnover chart with a value of Tk 1.65 billion followed by Beximco Pharmaceuticals Tk 1.38 billion, LankaBangla Finance Tk 990 million, LafargeHolcim Bangladesh Tk 744 million and IFIC Bank Tk 546 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/core-index-crosses-5700-point-mark-after-22-months-1610387338

NRB Bank launches Bangla QR Payment through “NRB Click”

NRB Bank Limited launched Bangla QR from NRB Click App. Mohammed Mahtabur Rahman, Chairman of NRB Bank Limited, and Ahmed Kamal Khan Chowdhury, Group Advisor SSL Wireless, formally launched Bangla QR Payment by cutting a cake at a simple ceremony held at the bank’s corporate head office in the city on Monday, said a statement. NRB Bank is the one of the first bank in Bangladesh who launched the services. SSL Wireless is the Business & Technology partner for the payment system. NRB Bank click subscribers are given payment through Bangla QR code in any SSL merchant outlet all over the Bangladesh without using their Card & Cash and also can make payment from their account.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/nrb-bank-launches-bangla-qr-payment-through-nrb-click-1610387387

ShahjalalIslami Bank re-elects chairman

ShahjalalIslami Bank recently saw the re-election of MdSanaullahShahid as chairman and Md Harun Miah and Md Abdul Barek as vice chairmen. Shahid is a sponsor shareholder of the bank and a sponsor director of ShahjalalIslami Bank Securities. He is also the chairman of Electra International, director of Electra Consumer Electronics and Federal Securities and Investment and a partner of Kashmir Chemical Co, Sazawa Brothers and Electra Furniture. Mr. Barek is a sponsor shareholder of the bank and ShahjalalIslami Bank Securities and proprietor of Arju Electronics, Jony Electronics and Rony Electronics.

Source: https://www.thedailystar.net/business/news/shahjalal-islami-bank-re-elects-chairman-2026197