TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Bangladesh’s government revenue grew by a healthy 16% in the first eight months of the current fiscal year (2023-24), exceeding the average growth rate of 10% over the past five years. However, despite this positive trend, the National Board of Revenue (NBR) still faces a significant revenue shortfall. The February collection surge of over 19% was the second-highest of the year. Analysts attribute this growth to a combination of factors, including rising import prices and improved tax collection efforts. However, this has not been enough to bridge the gap. The NBR currently faces a shortfall of Tk18,221 crore for the eight-month period, even after a downward revision of the initial revenue target. Income tax collection has been the bright spot, witnessing a growth rate of around 20% in the first eight months, with February showing a particularly strong increase of 29%. Even though imports have decreased overall over the past eight months, import tax revenue has increased by roughly 11%, while VAT revenue has increased by more than 16%.
Source: https://www.tbsnews.net/economy/bangladesh-revenue-16-eight-months-target-shortfall-remains-815146
Singer Bangladesh, one of the leading manufacturers and retailers of home appliances in the country, has begun manufacturing products at its new factory, becoming the first entity to do so inside Bangladesh Special Economic Zone (BSEZ) at Araihazar in Narayanganj. Established with an investment of $78 million from Turkish multinational Arcelik, which holds the controlling stock, the new facility is aimed at reducing import dependence and locally manufacture over 90 percent of components. The company’s paid-up capital is Tk 98 crore and market capitalisation reached Tk 1,465 crore since being listed with Dhaka Stock Exchange in 1983. Its net profit was Tk 52 crore in 2023.
In a move to build foreign deposits, increase their dollar liquidity and boost the country’s foreign exchange reserve, private commercial banks are holding a series of roadshows abroad to promote Bangladesh as a new tax haven. The shows are highlighting the recently passed offshore banking law that offers various benefits to foreign depositors such as tax exemptions, easy cross-border fund transfers, and relaxed financial regulations. An offshore bank account is held in a country where the account holder does not reside. It provides the ability to handle payments, savings, and investments in multiple currencies, making it convenient for managing regular international transactions.
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DJIA | $ 39,760.08 | ↑ 477.75 | ↑ 1.22 % |
| FTSE100 | $ 7,931.98 | ↑ 1.02 | ↑ 0.01 % |
| Nikkei 225 | $ 40,302.77 | ↓ 459.96 | ↓ 1.13 % |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 81.72 | ↑ 0.37 | ↑ 0.45 % |
| Crude Oil (Brent) | $ 86.33 | ↑ 0.24 | ↑ 0.28 % |
| Gold Spot | $ 2,194.39 | ↓ 0.40 | ↓ 0.02 % |
| Exchange Rates | ||
|---|---|---|
| Currency | Lowest | Highest |
| USD 1 | BDT 110.0000 | BDT 110.0000 |
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