Sohel Parvez

Every US dollar went for Tk 118 on the interbank platform of Bangladesh yesterday, the highest since the central bank loosened its grip on the exchange rate by letting market dynamics determine the prices.

With penalty, they owe government over Tk 7,000cr; S Alam Group director says they didn't ‘evade even a single taka in VAT'

S Alam Vegetable Oil Ltd and S Alam Super Edible Oil Ltd have unpaid value added tax (VAT) and consequent penalty worth over Tk 7,000 crore, as they allegedly evaded VAT through various means, including by presenting lower purchase and sales data in VAT returns between 2019 and 2022, according to an audit by the NBR’s VAT wing.

The annual average price spike in Bangladesh surged to its highest level in 12 years in the just-concluded fiscal year despite easing in June, reflecting the persistent erosion of real income and the deterioration of the living standards of low-income groups.

Bangladesh’s exports declined 4.28 percent year-on-year in July-May of 2023-24, said the central bank yesterday after correcting the shipment data published by the Export Promotion Bureau (EPB) earlier.

Bangladesh's overall exports fell 4.34 percent year-on-year in FY24 due to lower shipments of ready made garments (RMG), reflecting sluggishness in industrial activities and the economy.

Bangladesh’s sugar imports fell sharply in fiscal year 2023-24 as refiners stayed away from placing orders to foreign buyers in the face of an illegal influx of the sweetener through the borders.

Rice acreage and production in Bangladesh are likely to decline because of recent floods, which would affect paddy of the Aus and Aman seasons, said the US Department of Agriculture (USDA) at the end of last week.

When the Awami League (AL) announced its manifesto with the slogan 'Charter for Change' ahead of the general elections in 2008, it drew applause from various sections of society.

The spread between interest rates on deposits and loans rose to 6.03 percent, the highest in two decades, indicating that banks are making money at the expense of depositors and borrowers.