Bangladesh Bank has re-fixed the mobile financial service (MFS) transaction limit. The payment system department (PSD) of the central bank issued a circular in this regard on Thursday (Mar 27). CIB report mandatory for agricultural loans: Bangladesh Bank According to the circular, the central bank set a new daily cash in limit for agent points at Tk 50, 000, instead of Tk 30, 000. The monthly cash in limit was extended to Tk3,00, 000 from Tk 2,00,000. The cash-out limit for agent points has also been extended to Tk30,000 from Tk25,000 in one day. The monthly cash out limit has also been extended to Tk 2,00,000 from Tk 1,50,000. Bangladesh Bank allows startup companies to invest abroad The person-to-person (P2P) money transfer daily money transfer limit has been extended to Tk 50,000 from Tk 25,000. The monthly P2P transfer limit is re-fixed at Tk 3,00,000 from Tk 2,00,000. The circular stated that the MFSs can reduce the transaction limit in considering the risk assessment of clients. The decision will be effective immediately, said the central bank.

The National Board of Revenue (NBR) is preparing a new Tax Exemption Policy with the aim of making it harder for any individual to avail it. The decision to allow tax exemptions is being taken away from the NBR. It will now rest solely with Parliament to grant exemptions, said NBR chairman Md Abdur Rahman Khan. “This is now at the final stage, it is stated that the government and the NBR will not give any tax exemption, only Parliament will give that. We are making it more harsh,” he said while speaking at the pre-budget meeting with the Retired Tax Officers’ Welfare Association at the Revenue Building. He also made it clear that no individual, except in the interest of the republic, will be considered for tax exemption. According to available data from the NBR, Individual taxpayers received over Tk40,000 crore in tax exemptions, more than double the amount provided to companies. The International Monetary Fund (IMF) also provides guidance on streamlining tax expenditure in Bangladesh, a requirement included in the $4.7 billion loan package. The multilateral lender also stipulates an annual increase of 0.5% in the tax-to-GDP ratio up to FY26. NBR chairman urges Finance Adviser to reduce budget size The government recognises that the provision for tax exemptions has been misused. When tax exemptions are granted for social welfare purposes under this provision, some black money holders also exploit these benefits to pay taxes at reduced rates in certain cases. People are taking advantage of the benefit by declaring their income from fishery and paying taxes at a lower rate, but the true source of such income is always in question. Tax exemptions are also provided to promote local industries, encourage investment in backward areas and high-tech industries, and attract businesses to economic zones. However, there are complaints that some industries have been exploiting tax exemptions for years by using their influence or by unethical means. According to the NBR some 102 types of sectors currently receive partial or full tax exemptions. Forty of these exemptions apply to individual taxpayers, while the remainder apply to companies, industries, or investments. The NBR claims that widespread tax exemptions are costing the revenue board a significant amount of revenue and that no study has been done to assess the impact of these exemptions. Abdur Rahman Khan several times referred to a study which showed that NBR conceded the same amount in tax exemption that it collected as revenue. The NBR chairman said that the revenue collecting authority is thinking actively to rationalise the tax-related issues. “They will pay taxes on their income or profit, if they hav33e refund we have to pay that, there is nothing to put restriction on their logical refund claim,” he said. He also said that this time the government wanted to establish discipline in the revenue sector. “We have used the policy very aggressively in the past, it seemed that commissioners, first secretary and second secretary from the NBR will do everything to collect the revenue,” he said. Abdur Rahman Khan said that the zero return submission is almost two-thirds of the total income tax return. NBR will announce tax rates one year ahead, to help businesses plan accordingly: NBR Chairman “I have asked the field level officials why they are not serving notices to these taxpayers,” he said. He put emphasis on the enhancement of operational efficiency and functional competence among the tax officials. “We are not applying these, we are getting out from these two for collecting revenue, we are totally dependent on the policy,” he criticised.

President Donald Trump said Wednesday he was placing 25% tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains. “This will continue to spur growth,” Trump told reporters. “We'll effectively be charging a 25% tariff.” The tariffs, which the White House expects to raise $100 billion in revenue annually, could be complicated as even U.S. automakers source their components from around the world. The tax hike starting in April means automakers could face higher costs and lower sales, though Trump argues that the tariffs will lead to more factories opening in the United States and the end of what he judges to be a “ridiculous” supply chain in which auto parts and finished vehicles are manufactured across the United States, Canada and Mexico. To underscore his seriousness about the tariffs directive he signed, Trump said, “This is permanent.” Shares in General Motors fell roughly 3% in Wednesday trading. Ford's stock was up slightly. Shares in Stellantis, the owner of Jeep and Chrysler, dropped nearly 3.6%. Trump has long said that tariffs against auto imports would be a defining policy of his presidency, betting that the costs created by the taxes would cause more production to relocate to the United States while helping narrow the budget deficit. But U.S. and foreign automakers have plants around the world to accommodate global sales while maintaining competitive prices — and it could take years for companies to design, build and open the new factories that Trump is promising. "We’re looking at much higher vehicle prices,” said economist Mary Lovely, senior fellow at the Peterson Institute for International Economics. “We’re going to see reduced choice. ... These kinds of taxes fall more heavily on the middle and working class.’’ She said more households will be priced out of the new car market — where prices already average about $49,000 — and will have to hang on to aging vehicles. The tariffs on autos would start being collected on April 3, Trump said. If the taxes are fully passed onto consumers, the average auto price on an imported vehicle could jump by $12,500, a sum that could feed into overall inflation. Trump was voted back into the White House last year because voters believed he could bring down prices. Foreign leaders were quick to criticize the tariffs, a sign that Trump could be intensifying a broader trade war that could damage growth worldwide. Asian markets rise modestly after Wall Street’s slow session “This is a very direct attack,” Canadian Prime Minister Mark Carney said. “We will defend our workers. We will defend our companies. We will defend our country.” In Brussels, European Commission President Ursula von der Leyen expressed regret at the U.S. decision to target auto exports from Europe and vowed that the bloc would protect consumers and businesses. “Tariffs are taxes — bad for businesses, worse for consumers equally in the U.S. and the European Union,” she said in a statement, adding that the EU’s executive branch would assess the impact of the move, as well as other U.S. tariffs planned for coming days.

Asian markets made modest gains on Wednesday following a subdued session on Wall Street, where buying activity slowed after a broad rally the previous day. This rally had been driven by optimism that President Donald Trump’s tariffs might not be as extensive as initially feared. Tesla sales fall by 49% in Europe even as the EV market grows Hong Kong’s Hang Seng increased by 0.3% to 23,403.40, while the Shanghai Composite index dipped by less than 0.1% to 3,367.98. Tokyo’s Nikkei 225 climbed 0.7% to 38,027.29. Meanwhile, South Korea’s Kospi rose 1.1% to 2,643.94, and Australia’s S&P/ASX 200 advanced 0.7% to 7,999.00. On Tuesday, the S&P 500 edged up by 0.2% to 5,776.65, following a 1.8% surge on Monday—one of its strongest performances in the past year. The Dow Jones Industrial Average gained 4 points, or less than 0.1%, to 42,587.50, while the Nasdaq composite added 0.5% to 18,271.86. U.S. stocks have recouped some of their losses after declining 10% below their all-time high earlier this month, marking their first “correction” since 2023. The S&P 500 is now down 6% from its peak, making the market appear less overvalued than before—a key concern after its rapid growth in previous years. However, Wall Street strategists caution that further volatility is likely, with an April 2 deadline approaching. This date, which Trump has dubbed “Liberation Day,” marks the implementation of tariffs on trading partners that he claims impose a disproportionate burden on the U.S. Monday’s market rally was fueled by hopes that these “reciprocal” tariffs may be more targeted than initially feared. Even if the tariffs are less severe than expected, the uncertainty surrounding them has already shaken confidence among U.S. consumers and businesses, potentially leading to reduced spending and slowing economic growth. A report released on Tuesday revealed worsening sentiment among American households. The Conference Board’s consumer confidence index fell more than anticipated, largely due to a steep decline in short-term economic expectations. This measure hit its lowest point in 12 years, remaining “well below the threshold of 80 that typically signals an impending recession.” Similar to other recent surveys, the data indicated that U.S. households are more concerned about the economy’s future than its current state. Despite this pessimism, economic activity and the job market have so far remained resilient. On Wall Street, Trump Media & Technology Group surged 8.9% after announcing a partnership with Crypto.com to launch a series of “America-First” investment funds. These exchange-traded funds (ETFs) will include bitcoin and other digital assets, as well as stocks in U.S.-focused industries like energy. Crypto.com will provide the technology infrastructure, custody, and cryptocurrency supply for these ETFs, which will operate under TMTG’s Truth.Fi brand. BYD reports 2024 revenue over $100b, topping Tesla's sales Tesla gained 3.4%, fluctuating between minor gains and losses after weak sales data from Europe. Despite this, the stock remains down nearly 29% for 2025. Homebuilder KB Home fell 5.2% after reporting lower-than-expected profit and revenue for the latest quarter. Homebuilders, already struggling, may face rising costs due to tariffs, which could be passed on to homebuyers. A report on Tuesday indicated that U.S. new home sales in the previous month were slightly weaker than economists had predicted. In early trading on Wednesday, U.S. benchmark crude oil rose 31 cents to $69.31 per barrel, while Brent crude, the global benchmark, gained 30 cents to $72.69 per barrel. The U.S. dollar strengthened to 150.47 Japanese yen from 149.86 yen on Tuesday, while the euro slipped to $1.0784 from $1.0790.

European sales of Tesla electric vehicles tumbled 49% in the first two months of the year compared with a year earlier even as overall sales of EVs grew, according to the European Automobile Manufacturers' Association. There have been complaints about an aging lineup of vehicles from Tesla and also a significant backlash against CEO Elon Musk and his affiliation with the Trump administration in the U.S. In Europe, Musk's endorsement of Germany's far-right Alternative for Germany party in last month's national election drew broad condemnation. Tesla faces increasing competition from major automakers as they ramp up EV production, including China's BYD. On Tuesday, BYD reported a record 777.1 billion yuan ($107 billion) in revenue for 2024 as sales of its electric and hybrid vehicles jumped 40%. Earlier this month, BYD announced an ultra fast EV charging system that it says is nearly as quick as a fill up at the gas pump. BYD reports 2024 revenue over $100b, topping Tesla's sales Tesla sales for January and February slumped to 19,046 from 37,311 in the same period in 2024. That comes against the background of a 28.4% increase in sales of all battery-electric cars in Europe. German politicians and opinion media sharply criticized Musk over his support for the AfD, while Tesla vehicles and dealerships have been the target of protesters in the U.S. and Europe over the AfD endorsement and his role advising U.S. President Donald Trump in drastically reducing the size of the US federal government. Tesla sales are falling globally, however. The company posted its first annual sales drop in more than a dozen years in January. Tesla's new Cybertruck has had multiple recalls including last week, when the company recalled nearly all of them because panels that run along the left and right side of the windshield can fly off when driving. It was the eighth recall of the Cybertruck since deliveries to customers began just over a year ago.

Chinese electric vehicle maker BYD logged a record 777.1 billion yuan ($107 billion) in revenue last year as its sales of battery electric and hybrid vehicles jumped 40%. The report late Monday coincided with BYD’s launch earlier this week of its Qin L EV sedan, a mid-sized model similar to Tesla's Model 3 but at just over half the price. Tesla’s 2024 revenue was nearly $97.7 billion. BYD’s net profit last year was about 40 billion yuan ($5.6 billion), up 34% from the year before. Last week, the company announced it was rolling out a super fast EV charging system that it says is nearly as quick as a fill up at the pumps. BYD’s Hong Kong-traded shares fell 3.2% on Tuesday, despite its upbeat earnings report. Asian shares mostly lower after tech-driven Wall Street gain The lion's share, nearly 80%, of BYD's sales last year were related to its automotive businesses. BYD reported it sold about 4.3 million pure electric and hybrid vehicles last year. Nearly 29% of the company's sales were in markets outside Greater China, including Hong Kong and Taiwan, last year, up slightly from 27% the year before. The automaker has rapidly expanded its exports, though it has yet to try to sell in the U.S., where U.S. President Donald Trump has pledged to raise tariffs on car imports. BYD faces a 17% tariff on exports of EVs to the European Union.

The interim government is taking steps to remove obstacles and dismantle syndicates to establish good governance and ensure a genuine ease of doing business, said Lutfey Siddiqi, special envoy to the Chief Adviser on international affairs. He made the remarks while speaking as a special guest at a seminar titled ‘LDC Graduation: Impacts on Agro Sector, Export Diversification and The Way Forward,’ held at the Economic Reporters' Forum (ERF) auditorium in Paltan on Tuesday. The event was jointly organised by the ERF and the Bangladesh Agrochemicals Manufacturers Association (BAMA). He highlighted Bangladesh’s strategic advantage in becoming a manufacturing hub, leveraging its large workforce. The interim government is identifying problems and working to resolve them to dismantle business syndicates and streamline services, he said. Bangladesh Bank lifts ban of foreign tour for NBFIs Citing an example, he added, “One of the benefits of this initiative is evident in air ticket prices which were previously inflated due to syndicates.” On agrochemical manufacturing, he assured that the government would take necessary steps to promote local production to ensure smooth agricultural output. Chief Adviser’s Press Secretary Shafiqul Alam said  for the past 20 years, ease of doing business was mostly discussed on paper. “The interim government, led by Professor Muhammad Yunus, is working to ensure a real and effective ease of doing business,” he said . BAMA President KSM Mustafizur Rahman delivered a presentation on Bangladesh’s agrochemical production and market potential. Deepal signs agreement with Crack Platoon for nationwide EV charging network He stressed the need to facilitate local agrochemical manufacturing at a lower cost to reduce import dependency. Ashraful Haque Chowdhury, president of the D-Chamber of Commerce, also spoke at the event.

Import and export activities at Sonamasjid Land Port in Chapainawabganj will be suspended for eight consecutive days, from March 29 to April 5, to observe Eid-ul-Fitr. During this period, all trade activities between Bangladesh and India will come to a halt. However, passport-holding passengers will still be allowed to travel through the port's immigration checkpost without any restrictions. Payra Port nothing but a 'poisonous boil' for economy: Adviser Wahiduddin Ruhul Amin, secretary of the Sonamasjid Land Port C&F Agent Association, said that the suspension would include the regular weekly holiday, with operations resuming on April 6. Indian authorities at Mahadipur Land Port Customs, along with the C&F Agent and Exporters Associations, were officially notified about the closure. Meanwhile, at Hili Land Port in Dinajpur, trading activities will be suspended for nine days from March 29 to April 5, in observance of Eid-ul-Fitr. However, loading and unloading of goods within the port will continue on non-public holidays. Like Sonamasjid, passport-holding passengers will be able to pass through the Hili Immigration Checkpost as usual. Trading at Burimari port to be suspended for 8 days due to Eid Nazmul Hossain, general secretary of the Hili Land Port Import-Export Group, said that operations will resume on April 6. Both ports are expected to return to regular operations on the morning of April 6, following the Eid holidays.

The Bangladesh Bank has lifted the ban on foreign travel by officers and employees of Non-Bank Financial Institutions (NBFIs). The Financial Institutions and Markets Department of Bangladesh Bank issued a directive in this regard on Monday. The directive states that a circular was issued on May 29, 2022, asking officers and employees of finance companies to stop traveling abroad to participate in training, study tours, exposure visits, meetings and seminars. Under the new directive, officers and employees of finance companies can travel abroad with the approval of the appropriate authorities in accordance with the relevant policies of their own organizations for essential foreign travel. However, officers and employees of finance companies who have separate instructions from Bangladesh Bank regarding foreign travel must comply with the provisions of the relevant directives.

Asian stock markets were mostly lower on Monday, following a tech-driven rally that helped Wall Street break a four-week losing streak. U.S. stock futures rose as investors looked ahead to developments concerning President Donald Trump’s tariffs. Reports indicated that Trump may narrow his broad tariff approach to focus on countries with significant trade surpluses with the U.S., many of which are in Asia. Deepal signs agreement with Crack Platoon for nationwide EV charging network President Trump has set April 2 as a deadline for imposing additional tariffs on trading partners, following a series of prior deadlines that had been postponed, sometimes at the last moment. During a meeting with business leaders and U.S. Senator Steve Daines, the first U.S. Congress member to visit Beijing since Trump’s inauguration, Chinese Premier Li Qiang adopted a conciliatory tone. Li stated that relations between the two countries had reached a crucial point and emphasized the need for dialogue over confrontation and win-win cooperation instead of zero-sum competition. He expressed China’s hope for joint efforts with the U.S. to ensure steady and sustainable relations between the two nations. The meeting also involved leaders from major American businesses, including FedEx CEO Raj Subramaniam, Boeing Senior VP Brendan Nelson, Qualcomm CEO Cristiano Amon, and Pfizer CEO Albert Bourla. IG’s Junrong Yeap noted that Trump administration officials had hinted that the list of affected countries may not be universal, and existing tariffs, such as those on steel, might not necessarily be cumulative. This sparked optimism that Trump’s tariff plans might be more posturing than substantial. Despite this, Chinese markets remained sluggish. Hong Kong's Hang Seng Index dropped 0.3% to 23,613.50, while the Shanghai Composite Index fell 0.3% to 3,356.50. In Tokyo, the Nikkei 225 remained mostly flat at 37,676.97, after a preliminary manufacturing report showed the fastest decline in output in a year, with new orders falling at an even quicker rate. Taiwan’s Taiex rose by 0.1%. On Friday, the S&P 500 edged up by 0.1% to 5,667.56, marking a 0.5% weekly gain, though it remains down 4.8% for the month. The Dow Jones Industrial Average gained 0.1% to 41,985.35, while the Nasdaq composite rose 0.5% to 17,784.05. Technology stocks led the charge, helping to offset broader declines in the S&P 500. The tech sector, which has been central to the market's recent sell-offs after a strong performance in the previous year, includes some of Wall Street’s most valuable stocks. Apple rose by around 2%, and Microsoft added 1.1%. However, Nvidia fell by 0.7%, while Micron Technology saw an 8% drop, marking the biggest decline among S&P 500 stocks. Johnson & Johnson plans $55b in US investments over the next 4yrs Stocks have been struggling for weeks due to concerns about the U.S. economy's direction. A trade war with key U.S. trading partners threatens to exacerbate inflation, impacting both consumers and businesses. Inflation remains persistently above the Federal Reserve’s 2% target, and tariffs could undermine the central bank's efforts to control inflation. Recent economic data on home sales, industrial production, and unemployment suggested the economy remains resilient, while other reports on consumer sentiment and retail sales revealed growing caution among consumers. Businesses have been warning investors about the negative impacts of tariffs, inflation, and uncertainty on costs. Homebuilder Lennar dropped by 4% after issuing a weaker-than-expected forecast for new orders and average sales prices in the current quarter. The company attributed the decline to high interest rates, inflation, and decreased consumer confidence, which are all impacting the already challenging housing market. In other markets, U.S. benchmark crude oil declined by 22 cents to $68.06 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international benchmark, fell by 30 cents to $71.86 per barrel. The U.S. dollar rose to 149.78 Japanese yen from 149.37 yen, while the euro edged up to $1.0823 from $1.0816.