Half of UAE residents spend more than they earn
Half of UAE residents spend more than they earn

A recent survey has revealed that just over half of UAE residents50.46 per centspent more than they earned in the past year. Conducted by the financial technology platform Yabi, the Financial Health Report 2024 highlights significant challenges in financial security and planning among residents,...

Govt ends special OMS program for low-income people
Govt ends special OMS program for low-income people

The government has decided to discontinue the special Open Market Sale (OMS) program that provided low-cost agricultural products to low-income groups via trucks. Finance Advisor Dr. Salehuddin Ahmed announced on Tuesday that the program would cease operations starting January, following a decision...

UK to announce significant hike in visa sponsorship fees
UK to announce significant hike in visa sponsorship fees

The UK Home Office is planning substantial increases in fees for immigration services, including the cost of issuing Certificates of Sponsorship (CoS), a requirement for hiring foreign workers on Skilled Worker visas. Currently, UK employers must provide a CoS for each overseas worker they hire....

Business owners push to close businesses due to rising costs
Business owners push to close businesses due to rising costs

Business owners are dealing with the burden of higher operating costs. High inflation and reduced purchasing power have caused a decline in the sales of goods and services, creating conflicting challenges for them. As a result, they are not inclined to make new investments. Instead, they are...

Hurdles facing investment in telecom sector
Hurdles facing investment in telecom sector

The Telecommunications sector of Bangladesh is at a crossroads, facing significant hurdles that demand immediate attention. The sector faces numerous obstacles deterring investment, according to industry experts, the challenges include fragmented licensing frameworks, restrictive regulations,...

Vietnam to end  tax exemption on low-cost imports starting February
Vietnam to end tax exemption on low-cost imports starting February

Vietnam will end its tax exemption on low-value imported goods, starting February 18, in a move that aims to regulate e-commerce and boost local consumption. This change, outlined in Decision 01 by Deputy Prime Minister Ho Duc Phoc, impacts goods valued below VND 1 million (approximately $39.3),...

Middle class caught in inflation trap
Middle class caught in inflation trap

Food inflation in Bangladesh reached 13.80% last November, according to the Bureau of Statistics (BBS). This implies consumers spent Tk 113.80 on food that cost Tk 100 the previous year, an average increase of Tk 14. However, Saidul Alam, a private company employee from Rupnagar in the capital,...