Bangladesh Insurance Association (BIA) has demanded withdrawal of 15 per cent VAT on the insurance agent commission in the budget for fiscal year 2018-19 (FY19) for the expansion of insurance industry, reports BSS. “There is 15 per cent VAT at source on agent commission that has been affecting…

Finance Minister AMA Muhith  yesterday  said ICT sector will get priority in the upcoming budget for the fiscal year 2018-19, reports BSS. “Next budget will be an IT business-friendly one. . . the sector will continue to get the government’s support,” said the finance minister…

The government has initiated a move to set up Effluent Treatment Plants (ETPs) at 14 state-owned sugar mills across the country in a bid to ensure a healthy…

Bangladesh Bank (BB) has increased the loan limit of its Export Development Fund (EDF) to US$ 25 million from US$ 20 million, reports BSS. “It has been decided to enhance the limit of US$ 20 million to US$ 25 million for member mills of Bangladesh Garment Manufacturer and Exporter Association…

Bangladesh Bank (BB) has issued a guideline for illiterate customers as they can easily withdraw cash from banks through cheque, reports BSS. The central bank in a circular yesterday said all the scheduled banks will have to fill up the Know Your Customer (KYC) of illiterate customer properly. Apart…

Asian and European markets mostly rose yesterday and the dollar extended gains after the US and China said they had agreed to hold off imposing tariffs,…

Rental platforms like Airbnb are hoping for a boost from a new law coming into force next month in Japan ahead of an expected surge in demand for the 2020 Olympics, but experts warn it could actually hamper business in the short-term, reports AFP from Tokyo. Currently anyone renting out a room risks…

US private investment firm Harbour Energy yesterday boosted its bid for Australian energy giant Santos as oil prices soar, in a deal valuing the company at US$10.9 billion, reports AFP from Sydney. Santos, a major oil and natural gas firm with interests notably in Papua New Guinea, said it had received…

The United Arab Emirates has announced plans to allow 100 per cent ownership and visa incentives to foreigners, in a bid to attract investors to boost…

Malaysia on Monday set up a task force to probe allegations that billions of dollars were looted from sovereign wealth fund 1MDB in an audacious fraud…

The United States cares more about getting a good agreement than quickly concluding the renegotiation of the North American Free Trade Agreement, the US Treasury secretary said Sunday, reports AFP from Washington. An informal deadline came and went this week for reaching an agreement in time for the…

British MPs urged the government yesterday to clamp down on corrupt Russian money flowing through London, warning that turning a “blind eye” risked undermining its tough approach to Moscow, reports AFP from London. Prime Minister Theresa May expelled diplomats and vowed new measures against…

South Korean suppliers rose last month on expensive crude oil, central bank data showed Monday, reports Xinhua from Seoul. The producer price index stood at 104.13 in April, up 0.1 per cent from the previous month, according to the Bank of Korea (BOK). It was the rebound from no change in March as crude…

A total of 92,667 Taiwanese companies were involved in e-commerce in 2016, an increase of 38.6 percent from 2011, according to a report disclosed Sunday, reports Xinhua from Taipei. These companies accounted for 7.1 per cent of all registered businesses on the island. The overall revenue of online sales…