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Highlights: India's leading chemical company Indokem to invest Tk1,500cr Belgium-based Azelis to initially invest around Tk1,200cr Japan-based tire maker Bridgestone to invest Tk2,000cr China's Sinovac Biotech to start producing Plasma-Derived Medical Products with Tk5,000 cr investment One of the top Indian chemical companies Indokem is gearing up to invest some Tk1,500 ....
GSP Plus threshold needs to be negotiated: expert Debapriya Bhattacharya Star Business Report Star Business Report Bangladesh needs to negotiate with the European Union (EU) over the trade threshold for enjoying the Generalised System of Preferences (GSP) Plus once it graduates from the least developed country category, said a noted economist on Wednesday. The EU s GSP Plus status allows countries duty-free export to the trade bloc. To be eligible, a country cannot account for over 7.4 per cent of the EU s annual imports. However, Bangladesh has already crossed the threshold and it is already at 26 per cent now, said Debapriya Bhattacharya, a distinguished fellow at the Centre for Policy Dialogue (CPD). ....
Don’t collect income tax from pvt univs SC directs NBR Staff Correspondent Staff Correspondent The Supreme Court yesterday directed the National Board of Revenue not to collect any income tax from the private universities across the country until further order. The apex court, however, allowed the government to move separate appeals before it against the 2016 High Court verdict declaring illegal the government imposition of 15 percent income tax on private educational institutions, including private universities and private medical, dental and engineering colleges. A four-member SC bench headed by Chief Justice Syed Mahmud Hossain gave the orders after hearing 44 leave-to-appeal petitions that the government filed challenging the HC verdict. ....
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Bangladesh to outperform Asian peers in economic recovery Finds StanChart study presented in BGCCI discussion Star Business Report Star Business Report Bangladesh is likely to recover faster than its Asian peers from the Covid-19 fallout thanks to improving exports, growth in domestic consumption and remittance inflow, according to a study of Standard Chartered bank. In fiscal 2020-21, the economy will bounce back led by growing exports and remittance, which will also give a boost to consumption, it said. Anubhuti Sahay, head of South Asia economics research of Standard Chartered Singapore, presented the findings of the study titled 2021 Outlook: The Road to Redemption at a virtual discussion organised by the Bangladesh-German Chamber of Commerce and Industry (BGCCI). ....