A new initiative has been introduced by the U.S. Attorney in Manhattan, which aims to promote more self-disclosure.

05/03/2024 | | Corporate, Dispute Resolution, International

Summary The U.S. attorney for the Southern District of New York has announced an initiative. The pilot program launched by the U.S. Attorney’s Office in Manhattan aims to provide individuals with an incentive to report and cooperate with authorities to prosecute criminal conduct. Content  The U.S. Attorney’s Office for the Southern District of New York has announced a new program aimed at... Read More

The business climate’s uncertainty is causing a decline in new company registrations.

05/03/2024 | | Corporate, International, Investment

Summary Aspiring entrepreneurs in Bangladesh are encountering significant challenges, as the country's business environment is being stifled by political instability and worldwide uncertainties. The number of registered corporations has declined, and only a small minority of them can successfully get off the ground. These hurdles have made it increasingly difficult for entrepreneurs to navigate the competitive market and establish themselves... Read More

Commencement of our Secondment Program with multinational Japanese law firm; Nishimura & Asahi

30/01/2024 | | Human Resources, International, Recognition

Rahman's Chambers is proud to announce the selection of Mrs. Kamrunnaher Shimu, Associate at the firm, for a prestigious secondment program, commenced on the 16th of January 2024 at Nishimura & Asahi, one of Japan's most renowned multinational law firms. This historic collaboration marks the first-ever instance of a Bangladeshi law firm securing such an opportunity with a foreign... Read More

Additional sanctions related to price caps have been imposed by the Treasury

30/12/2023 | | Commercial, International, Shipping

Summary:  On December 1, 2023, the United States Department of Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on three entities. Additionally, three vessels that carried Russian crude oil above the Coalition-agreed price cap while using Price Cap Coalition services are identified as blocked property. These sanctions have been imposed to responsibly reduce oil revenues that the Russian... Read More

The approval for the import of 40MW hydro power from Nepal has been granted

30/12/2023 | | Construction, International, Investment

Summary: The government recently gave the green light for the establishment of two solar power plants and the import of 40 megawatts of power from Nepal through the Indian grid, using the direct purchase method. These decisions were made in separate meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on National Purchase, both of which were... Read More

The misuse of bonds has nearly halved in Bangladesh, resulting in savings of $1.45 billion during the period of July to September

30/12/2023 | | Commercial, International, Investment, Taxes & Finance

Summary The government granted tax concessions of approximately Tk1 lakh crore on raw material imports under the bond facility in FY2022-23, resulting in a reduction worth $1.45 billion in the first quarter of the present financial year. During the first three months of the current fiscal year, the misuse of bond facilities, which offer import duty concessions for raw materials... Read More

African carbon deal is being lined up by a big oil producer Ahead of climate talks

30/12/2023 | | Construction, International, Investment

Summary: The United Arab Emirates, a country that holds a prominent position as one of the world's largest exporters of fossil fuels, is keen on establishing itself as an influential leader in creating global carbon markets. This move comes as the country prepares to host the annual United Nations climate talks, scheduled to take place this month. Content: The efforts of a... Read More

Bangladesh’s ship recycling yards will receive $1.364m investment from Norway to improve eco-friendliness

30/12/2023 | | International, Investment, Shipping

Summary:  Norway's government will invest $1.364 million to transform Bangladesh's shipbreaking yards into eco-friendly facilities. This project aims to protect the environment by reducing pollution in the ship breaking industry.  Content: The Ministry of Industries, the Norwegian government, and the International Maritime Organization (IMO) are collaborating on a project called "Safe and Environmentally Sound Ship Recycling Project (SENSREC) Phase-3". On Wednesday, at... Read More

Beyond 2026, Bangladesh is set to continue receiving trade benefits

30/12/2023 | | Corporate, International, Investment

Summary: WTO member nations have successfully reached an agreement to provide support to Bangladesh and other least developed countries (LDCs) as they progress towards graduation. Starting November 2026, Bangladesh will continue to receive trade benefits even after it graduates from the list of least-developed countries. However, the World Trade Organization (WTO) has decided to extend support measures for countries that... Read More

Congratulations to Penta-Ocean Construction Co., Ltd., on their opening of the channel of Matarbari Deep Sea Port.

12/11/2023 | | Construction, International, Investment, Shipping

Rahman's Chambers is delighted to congratulate our client, Penta-Ocean Construction Co., Ltd., on the opening of the channel of Matarbari Deep Sea Port. This is a landmark project that will have a significant impact on the Bangladesh economy and improve the lives of millions of Bangladeshis. Penta-Ocean Construction Co., Ltd. played a vital role in the development of the constructing... Read More

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