Late Sunday at the Ninth Circuit Court of Appeals in San Francisco, a group of 97 companies — mostly in the technology sector — filed a “friend of the court” amicus brief strongly condemning the immigration policies of President Donald…
Category: Finance
DCCI for giving all taxpayers NBR’s ‘Tax Card’
Dhaka Chamber of Commerce and Industry (DCCI) has requested the National Board of Revenue (NBR) to give ‘Tax Card’ to all tax payers as an electronic smart card instead of giving it to VIPs. During a meeting with NBR chairman…
Classified loans in banks, financial insts Tk 63,435cr
The amount of classified loans in the country’s banks and financial organisations stood at Tk 63,435 crore in September last, Finance Minister AMA Muhith told Parliament on Monday. According to Bangladesh Bank’s statement, the amount of classified loans in the…
Cabinet okays proposal to form Sovereign Wealth Fund
Dhaka, Feb 6 – The Cabinet on Monday approved a proposal for the formation of Sovereign Wealth Fund with an authorised capital of $ 10 billion, aiming to utilise the country’s foreign currency reserve in multifaceted ways.
Global FDI flows fell 13% last year, bumpy recovery ahead
Geneva, 3 Feb (Kanaga Raja) – Global foreign direct investment (FDI) flows declined by 13% in 2016, to reach an estimated US$1.52 trillion, the United Nations Conference on Trade and Development (UNCTAD) has said. In its latest Global Investment Trends…
Productive job creation still a challenge for Dhaka: ADB
Dhaka – Bangladesh still faces challenges in creating enough productive jobs to reduce poverty and unlock the country’s development potential. Asian Development Bank (ADB) said it its -said Development Effectiveness Brief: Bangladesh 2017 released on Sunday.
$448mn assistance to face climate change: Minister
Bangladesh has so far received US$ 448.65 million as assistance from different agencies to face adverse impacts of climate changes, Environment and Forests Minister Anwar Hossain Manju told Parliament on Sunday. Besides, Bangladesh got commitment of US$ 175 million from…
$300 WB loan to streengthen local govt at grassroots
Dhaka – The World Bank on Wednesday approved $300 million financing to empower the local governments at grassroots level with discretionary funds that would enable communities decide and implement local development priorities.
New network to help bridge multi-billion-dollar rural financing gap
Rome, 27 January – The establishment of a new network to help bridge the estimated US$150 billion financing gap that prevents small rural producers and businesses in developing countries from growing their operations and strengthening rural economies, was announced today.
Bangladesh likely to get fresh Indian loan under 3rd LoC
Dhaka – India is likely to provide credit assistance to Bangladesh under its fresh 3rd Line of Credit (LoC) as the government has so far identified eight projects following the Indian government’s request.
Cabinet approves Summit LNG terminal for $1.6 billion-a-year
Dhaka – Cabinet Economic Affairs Committee on Wednesday gave its approval to two proposals ‘in principle’, – an LNG terminal to be set up by local Summit Group, and import of LNG from RasGas of Qatar on government-to-government agreement basis.…
Number of products ‘enjoying duty-free access hits 10,677’
Dhaka- Commerce Minister Tofail Ahmed on Friday said the number of commodities enjoying duty-free access will reach 10,677 from the existing 4,648 following the latest Asia-Pacific Trade Agreement (Apta) negotiation.
No shift from principal objectives, says new IBBL chairman
Dhaka, Jan 8 – Newly appointed chairman of Islami Bank Bangladesh Limited (IBBL) Arastoo Khan on Sunday said there will be no change the in principal objectives of the bank.
Refrain from whimsical stock market investment: PM
Prime Minister Sheikh Hasina on Sunday stressed the need for making well-thought-out investment in the capital market and not to do anything whimsically based on rumours.“Financial literacy is essential to protect people from whimsical investment in the capital market,” she…
Islami Bank under new Chairman, Acting MD, new committees
Former secretary Arastoo Khan has been made chairman of the most profitable private bank in Bangladesh. Executive Committee Chairman Syed Ahsanul Alam Parvez has become a vice-chairman. Senior Deputy Managing Director Mahbubul Alam is acting managing director of the bank…
Govt to spend Tk 585.88 cr on road infrastructure
The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved the procurement of equipment and machinery for repairing and maintenance and road infrastructure construction at an estimated cost of Tk 585.88 crore.The approval came from the 15th Ecnec…
Oil price cut in domestic market from January: Muhith
Dhaka – Finance Minister AMA Muhith Wednesday said the price of oil will be reduced with effect from January. “We had hoped to bring it down in December, but it was not possible, so we hope to do so in…
Remittance flow falls despite rise in labour migration: Study
Despite a marked rise in the country’s lobour migration this year, its remittance flow has declined by about 11 percent compared to the previous year, says a new study.The study, which was carried out by the Refugee and Migratory Movements…
Stocks remain bullish
Stock remained bullish on Wednesday despite moderate fall in daily transaction.The broader index at Dhaka Stock Exchange (DSE) gained 11.17 points to end the day at 5027.91 after reaching 25-month high on Tuesday.Like previous session, the DS30 and the DSES…
Administrative capacity crucial for combating terror financing: FS
Dhaka – Bangladesh needs continued political commitment, administrative structure and budgetary allocations to effectively combat terror financing, said Foreign Secretary Md Shahidul Haque on Sunday. UNB news agency reported
Better int’l co-ordination could lead to more benefits from migration
Despite growing economic dynamism in many developing regions, international migration flows are not being diverted towards these new alternative poles but rather are concentrating in advanced economies, according to a new OECD Development Centre report.
Traffic police collects Taka 12 lakh fine from rule violators
Dhaka – The Traffic Department of Dhaka Metropolitan Police (DMP) filed 3,755 cases and collected fines of Tk 11,93,050 during special drives against traffic rules violators in the capital on Wednesday.
Muhith rejects plea for fund to help negative equity holders
Dhaka – Finance Minister AMA Muhith on Wednesday turned down an appeal of the stock brokers to provide fund for helping negative equity holders in the stock market. “No fund will be provided to the stock market for negative equity…
Saudi minister says, guesthouses built for migrants’ security
Dhaka – Adnan Abdullah Alnuaim, Deputy Minister of Customer Relations, Ministry of Labour and Social Development of Saudi Arabia, says his government has built guesthouses in different parts of the country as a security measure for migrant workers. “We’re working…
PWD doesn’t follow eco friendly instruction to hollow bricks: Muhith
Dhaka-Finance minister AMA Muhith yesterday alleged that Public Works Department (PWD) does not follow the instruction to use eco friendly hollow bricks.
Ronaldo, Mourinho accused of tax avoidance
Cristiano Ronaldo and Jose Mourinho have avoided paying tax on millions of dollars of earnings by channelling money abroad, according to claims based on a huge document leak. Ronaldo, the Real Madrid star, and Mourinho, the Manchester United manager, allegedly…
National income tax day Wednesday
National Income Tax Day-2016 will be observed tomorrow across the country with a renewed call for creating awareness among the people for payment of income tax regularly.National Board of Revenue (NBR) has chalked out elaborate programmes in observance of the…
Options lacking to help developing countries avoid debt crises
Despite many developing countries facing a very real risk of falling into debt crisis – the current options available to assist countries to manage their debts are surprisingly lacking.This scenario formed the basis of discussions on Monday 31 October at…
Is cash a monetary curse?
Sudhirendar Sharma A tax regime is incompatible with peoples’ perception of living in a truly democratic society, posing a challenge to balance an individual’s right to privacy with society’s need to enforce regulations! Cash has undoubtedly proven a curse, irrespective…
ADB approves financing to boost BD natural gas output
Dhaka – The Asian Development Bank (ADB) has approved a $167m loan to promote sustainable economic growth and reduce poverty in Bangladesh by improving production efficiency at a key gas field north of the capital Dhaka and by expanding transmission…