Dhaka, Jul 11 – Finance Minister AMA Muhith on Tuesday dismissed the recent media reports on the capital outflow from Bangladesh and a sharp rise in Bangladeshis’ deposits in Swiss banks.
Category: Finance
1997 Asian Crisis lessons lost
By Jomo Kwame Sundaram Kuala Lumpur (IPS) – After months of withstanding speculative attacks on its national currency, the Thai central bank let it ‘float’ on 2 July 1997, allowing its exchange rate to drop suddenly. Soon, currencies and stock…
Export growth 15 years’ low
Bangladesh exports have grown by a meagre 1.69 percent in the year to June, with its slowest pace in 15 years.Exports fell 15.27 percent year-on-year to $3.04 billion in June, the last month of the fiscal year, according to the…
List of 100 top loan defaulters placed in Parliament
Placing a list of the country’s top 100 loan defaulters in Parliament, Finance Minister AMA Muhtih on Monday said the amount of the classified loan now stands at Tk 111,347 crore.“As per the data of the Credit Information Bureau (CIB)…
Dhaka dwellers burn Taka 580m worth of gas a day to boil water
After preparing breakfast for her eight-member family, Suraya Akhter Chisty Rima, a resident of Old Dhaka, boils two pitchers of water every day for meeting their safe drinking water demand as the water supplied by Dhaka Wasa cannot be taken…
Green Climate Fund Board adopts decisions on project approval
Delhi, 10 July (Indrajit Bose)- The Board of the UNFCCC’s Green Climate Fund (GCF) adopted a host of important decisions at its 17th meeting held in Songdo, South Korea, from 6-7 July. Of crucial importance were decisions related to policy…
G20 or G19+1: Trump hails talks as ‘success’ despite divisions
President Donald Trump has declared the G20 summit in Germany a “wonderful success”, despite the US’s isolated position on climate change.
Top 300 cooperatives generate $2.5 trillion annually
By IPS World Desk Rome, Jul 3 (IPS) – The top 300 cooperatives alone generate 2.5 trillion dollars in annual turnover, more than the Gross Domestic Product (GDP) of France, according to the UN Department of Economic and Social Affairs…
Funding climate resilience benefits all nations
By Kenton X. Chance Kingstown, St. Vincent, Jul 4 (IPS) – A leading climate change mitigation and adaptation activist and former climate negotiator in the Caribbean says that the United States could protect its economic and political interest by helping…
Boost productivity, improve quality, PM to workers
Dhaka – Prime Minister Sheikh Hasina on Tuesday urged workers to boost productivity and improve the quality of both the products and the standard of their works to keep pace with the competitive world. –UNB
Ending child marriage could add trillions to world economy
By Roshni Majumdar UN (IPS) – The benefits of ending child marriage are many—boosting a young girl’s morale and increasing her chances of education and work, and by that virtue, curbing high population rates in developing economies and boosting growth.
Khaleda’s sons laundered money, not AL men: Quader
Dhaka, Jul 2 – Awami League General Secretary Obaidul Quader on Sunday said it has been proved in courts of different countries, including the USA and Singapore, that BNP Chairperson’s sons Tarique Rahman and late Arafat Rahman Koko have money…
Expose those having money with Swiss banks: Khaleda
Dhaka, July 1 – Accusing the ruling party men of siphoning off their ill-gotten huge money, BNP Chairperson Khaleda Zia on Saturday night demanded the government disclose the names of those Bangladeshis deposited money with Swiss banks.
BD achieves revenue collection target for 2016-17
Dhaka, July 1 – The National Board of Revenue (NBR) exceeded the revenue collection target for the outgoing fiscal year 2016-17 as it collected Taka 1,08,571 crore, up Taka 71 crore from the revised target of Taka 1,85,000 crore.
Swiss banks no longer have Swiss confidentiality?
Dhaka – The Swiss National Bank launched a series of annual reports titled ‘Banks in Switzerland 2016’ on Thursday revealing that deposits by Bangladeshis in Switzerland’s different banks rose rose by about 20 percent year-on-year in 2016.
AT law to be suspended for 2 yrs; Finance Bill passed
Sangsad Bhaban – The Finance Bill 2017 was passed in Parliament on Wednesday with some major changes to the VAT Law and excise duty on bank accounts. -UNB
Stocks maintain upward trend
Dhaka, June 28 – Stocks maintained an upward trend on both bourses as trading resumed Wednesday after five days of Eid vacation.
PM blames dishonest traders for rice price hike
Dhaka, Jun 28 – Prime Minister Sheikh Hasina on Wednesday said manipulation by dishonest traders is perhaps the reason behind its sudden price hike.
Taka 28 crore IFAD fund for Sri Lanka smallholder agribusiness
Rome, 26 June – The International Fund for Agricultural Development and Government of Sri Lanka signed a financing agreement today that will help 57,500 poor rural households in Sri Lanka increase their incomes and food security by expanding livelihood and…
Getting rid of Germany’s excessive current account surplus
by Gustav Horn There’s no end to the criticism of the excessive German current account surplus. Quite rightly, people suggest that this imbalance has the potential either to unleash violent currency fluctuations on a global scale or to generate a…
Dhaka more expensive than Washington for expats
Dhaka, Jun 23 – Dhaka city is more expensive than Washington, capital of the United States in terms of cost of living for expatriates, according to Mercer’s 2017 Cost of Living Survey.
The answer is wages, not capital
by Jordi Angusto As in any other religion, faith lies behind capitalism. Faith that capital is a panacea always and in any situation: to push economic growth or to help less developed countries to catch up. Yet the fact is…
Netherlands contributes14m euro for agribusiness in BD
The Embassy of the Kingdom of the Netherlands announced it will contribute 14.8 million euros for the second phase of Solidaridad’s Sustainable Agriculture, Food Security and Linkages (SaFaL) programme for the period 2017-2021. This programme supports more than 100,000 smallholder…
Some 116 projects in power sector need $24.73 billion investment
Dhaka – State Minister for Power and Energy Nasrul Hamid has urged the country`s banks and financial institutions to invest in the government`s ‘fast track projects’, presumably by borrowing –UNB news agency reported
Six telecom companies pay Ta 8.5 billion revenue
Six mobile phone operators of the country has paid Tk 855.01 crore as revenue in the 2016-17 fiscal. Tarana Halim, State Minister for Post and Telecommunications, came up with the information while replying to a tabled starred question from Sukumar…
Bangladesh needs global support to tacle climate change
DHAKA, June 17, 2017 (BSS) – Coastal Association for Social Transformation Trust (COAST) Bangladesh, at UNHCR annual dialogues in Geneva, Switzerland, yesterday sought global assistance for the country to cope with the climate change impacts. “Bangladesh needs huge international assistance…
Migrant workers pour trillions into world economy
By Roshni Majumdar UN, Jun 15 (IPS) – A new report by the International Fund for Agricultural Development (IFAD) says the flow of money from migrants—commonly located in developed countries—to their families in lower income countries has doubled over the…
Digitization can improve financial inclusion
By Mike Warmington Kakamega, Kenya, Jun 14 2017 (IPS) – Mathew Khaemba, a smallholder farmer in western Kenya, remembers a time when his children were failing in school because they were too hungry to concentrate on their lessons. In those…
BD offers revenue customer services through digital centres
Dhaka – The Access to Information (a2i) Programme under Prime Minister’s Office and National Board of Revenue (NBR) signed a memorandum of understanding (MoU) at the Prime Minister’s Office on Sunday 11 June to deliver revenue services to citizens through…
UNFPA seeks fund to support Cyclone Mora hit women, newborns
Bangladesh –The United Nations Population Fund (UNFPA) Bangladesh is seeking1.5 million USD to scale up emergency reproductive health services and safety for women and newborns impacted by Cyclone Mora.