Dhaka – The government has urged China again to sign the framework and loan agreements by mid-June for funding the Padma Bridge Rail Link project to facilitate the launching of the project by the current fiscal year.-UNB
Category: Finance
ECB keeps rates unchanged at zero
The European Central Bank has decided to keep interest rates at zero, despite signs of recovery in the countries that use the euro. Growth across the eurozone in the first quarter was unexpectedly strong at 0.6 per cent, prompting speculation…
Black money worth Tk 13,372cr whitened since liberation: Muhith
Sangsad Bhaban – Black money worth Tk 13,372 crore have been whitened (legalised) since the country’s independence, Finance Minister Abul Maal Abdul Muhith told Parliament on Thursday. – UNB
Share of aid allocated to education falls for the sixth year
Paris, 6 June—The amount of aid allocated to education has been falling for six years in a row, shows a new policy paper, Aid to Education is Stagnating and Not Going to Countries Most in Need, published by UNESCO’s Global…
Ecnec okays Tk 160 cr project to enhance waste management capacity
Dhaka – The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved ‘Procurement of Equipment for Solid Waste Management’ project with Tk 160.12 crore, aiming to enhance waste management capacity in Dhaka North, Dhaka South and Chittagong City…
BD has trade deficit with 71 countries: Tofail
Dhaka, Jun 5 – Noting that Bangladesh has trade relations with 198 countries across the world, Commerce Minister Tofail Ahmed on Monday told Parliament that Bangladesh has experienced trade deficit with 71 countries in the outgoing fiscal year – 2016-17.
Stop insuring climate disaster
Bill McKibben Ripton, Vermont – Last month, the United Kingdom enjoyed its first full day without the need for coal power since the Industrial Revolution began. That’s remarkable news – and a sign of the future to come as the…
Award encourages Dubai cos protect, promote workers’ rights
Dubai – More than 9,854 factories and 282 companies operating in the construction sector are expected to participate in the second edition of the Taqdeer Award programme, officials said on Wednesday. The award is given annually to firms who implement…
Duty on bank deposits to encourage capital flight: Business
The budget proposal to hike excise duty on bank account balance may encourage capital flight, the country’s apex trade body has said in a statement. The FY2018 budget proposes to increase excise duty to Tk 800 from Tk 500 on…
Mobile phones, air coolers, ups/ips to cost more
Finance Minister AMA Muhith, in the national budget for FY 2017-18, has proposed changes to duties on different essential commodities which may result in increase and decrease in their prices. While placing the budget in Parliament on Thursday, the Finance…
Uniform 15pc VAT rate for three years
Finance Minister AMA Muhith on Thursday said a single and uniform VAT rate will be applicable for three consecutive years from the next fiscal. “This rate will be 15 percent which will remain unchanged over the next three years,” he…
Proposed UN pay cuts threaten work stoppage in Geneva
By Thalif Deen UN, May 30 (IPS) – Facing significant reductions in US financial contributions from a politically-unpredictable Donald Trump administration, the UN Secretariat is gearing itself for a rash of austerity measures and budgetary cuts, including downsizing peacekeeping operations…
Valuing water beyond the money
By Paula Fray Johannesburg, May 29 (IPS) – Amid the worst drought in a century, South Africans are kick-starting a global consultative process to agree on the values of water in a bid to ensure more equitable use of the…
Remittance inflow to Bangladesh marks upswing
Inflow of remittances that witnessed a sluggish trend in recent months is picking up again as expatriates sent home US$807.77 million in the first 19 days of May, which is $115.76 million up from the same period of the previous…
Saudi Arabia to implement sin tax from June 10
Saudi Arabia will start taxing cigarettes, energy drinks and carbonated drinks from June 10, the Saudi Gazette said on Sunday, quoting the General Authority of Zakat, making it the first country in the Gulf Co-operation Council to fix the implementation…
G7 summit ends deadlocked on climate change
US at odds with other six members as President Donald Trump refuses to endorse the Paris climate change accord.
G7 leaders turn attention to African migraion
Leaders of the G7 group of rich nations are to meet with African heads of state later for talks on the migrant crisis. The leaders of Tunisia, Kenya, Ethiopia, Niger and Nigeria will join the second day of the G7…
Coal India wins tax boost
State-run Coal India Ltd , saddled with millions of tonnes of unsold coal, is expected to be the biggest beneficiary of a controversial government decision to more than halve the sales tax on the fuel after a jump in local…
Huge investment in power sector turns pointless: BNP
Dhaka – BNP on Wednesday questioned the huge investment in power sector as the country is now experiencing ‘serious power cut’ amid scorching heat. “Lakhs of crore of taka has been spent on power generation. But, we now see a…
BD to procure 6 new ships from China
Dhaka – Bangladesh will procure six new ships from a Chinese company to add those to the fleet of Bangladesh Shipping Corporation (BSC). UNB news agency reported
China Invests $124bn in Belt and Road project
The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks. China’s President Xi Jinping has pledged $124bn (£96bn) for the scheme, known as the Belt and…
Three local firms denied permit to invest abroad
Three local firms willing to invest abroad have failed to obtain government’s permission. The Cabinet Economic Affairs Committee in a meeting on Sunday turned down the proposals of Akij Jute Mills Ltd, Ha-Meem Group and Nitol-Niloy Group. The three local…
Speaker for ensuring journos’ due privileges
Dhaka – Describing the mass media as the mirror of society, Speaker Dr Shirin Sharmin Chaudhury on Saturday underscored the need for ensuring the protection and privileges of journalists. UNB news agency reported
Yemen minister says 60 percent of population in dire poverty
Riyadh – Yemen’s planning minister says 60 percent of the country’s population is in dire poverty more than two years since the Shiite rebels forced the country’s internationally recognized government and president out of the capital. AP/UNB news agency reported
Change in law lowering VAT rate likely in Bangladesh
In the wake of widespread protests by the business community, Finance Minister AMA Muhith on Wednesday said there will be some changes in the new VAT law. “I’m thinking about giving some relief… some amendments may come (in next budget)…
100,000 tonnes of rice to be imported
Dhaka – Bangladesh will import 100,000 tonnes of rice in an effort to refill reserves and rein in prices of the staple. UNB news agency reported
Seek alternative financing for agri development: Specialists
Dhaka -Specialists urged alternative financing for agriculture development in a workshop organized by Dhaka Chamber of Commerce and Industry (DCCI) and USAID’s Agriculture Value Chains (AVC) Project at the DCCI. UNB news agency reported
9th Wage Board awaits name of owners’ representative: Inu
Sangsad Bhaban – Information Minister Hasanul Haq Inu on Sunday told Parliament that the 9th Wage Board for journalists will be announced soon after the media outlet owners name their representative for the board. UNB news agency reported
BD to get $8 billion from ADB in 5 yrs, says Muhith
Yokohama – Finance Minister AMA Muhith, now attending the 50th Annual Meeting of the Board of Governors of ADB here,on Fridaysaid the donor agency will provide around$8 billion to Bangladesh over the next five yearsin various sectors as development assistance.…
