One-day-old chick price has crossed all previous records on Sunday as one chick cost as high as Taka 73 and in the next few days it will rise to Taka 85-90 a piece in Comilla. All small pountry farmers of…
Category: Economy
Rights body terms budget not farmer-friendly
Ten farmers’ and rights based organisations termed the proposed budget for the year of 2015-16 as businessmen friendly not farmers friendly. The allocation for agriculture in the proposed budget for the incoming fiscal year is inadequate and suicidal for future…
Revenue target for 2015-2016 is high, but achievable – Muhith
“The National Board of Revenue (NBR) has been prepared a work plan to achieve the revenue target,” he said while addressing in the post budget press conference at Osmani Smriti Auditorium in the city. Industries minister Amir Hossen Amu, agriculture minister…
Budget based on borrowing – graft, investment gap stall growth: BNP
BNP leaders have termed the proposed budget as big size based on borrowing and the the growth rate remained fixed at 6 percent due to lack of investment and corruption. They said there are no directions about whitening black money…
Tk 2.95 lakh crore burdget with 86,657 crore deficit announced
Finance Minister AMA Muhith on Thursday proposed a national budget of Tk 295,100 crore for FY 2015-16 to what he said take the country on a higher growth trajectory, projecting a 7.0 per cent rate of growth. “I am sure,…
European Union releases EUR 10.5 million for Primary Education
The European Union announces the release of EUR 10.5 million to the primary education sector of Bangladesh through its Sector Budget Support operation. This is the Third Tranche payment of the EUR 51 million EU’s contribution to the Primary Education…
Taka 3 lakh crore budget in JS expected Thursday
Finance Minister AMA Muhith is set to unveil nearly a Tk 3 lakh crore budget for the fiscal year 2015-16 on Thursday likely eying a 7.1 percent GDP growth, down from 7.3 percent in the outgoing fiscal year. Like the…
Economy collapses, people float at sea: Dr. Moyeen
BNP standing committee member Dr Abdul Moyeen Khan on Tuesday said the collapse of country’s economy could not be hidden through the speeches of government ministers. “Where is the country’s economy? Thousands of people are now floating on the sea.…
100m Euros Fench loan for cleaner power network Dhaka
Agence Française de Développement (AFD), the French development finance institution, is going to provide loan worth 100 million Euros (equivalent to Tk850 crore) for establishing a stronger, more reliable and cleaner electricity network in Dhaka. AFD’s financial contribution – a…
Stop flight of money: Civil society groups urge
Civil society members and some right groups yesterday demanded of the government for taking specific measures including stopping of illicit finance flow out of the country. Many people and traders are involved in laundering money from the country in different…
GDP growth 6.51 pc, per capita income $1314: Minister
Planning Minister AHM Mustafa Kamal on Thursday said the provisional GDP growth in the current fiscal year has reached 6.51 percent although the government was earlier hopeful of achieving 7 percent. “The GDP growth in the current fiscal year reached…
No fuel price lowering soon, Muhith’s response to stimuli
Finance Minister AMA Muhith on Wednesday said the government is not going to lower the fuel price anytime soon despite its fall in the international market. He said this while talking to reporters after a pre-budget discussion with the secretaries…
Muhith seeks full execution of VAT Act in a year
Finance Minister AMA Muhith on Tuesday said the government has decided to implement the Value Added Tax (VAT) Act 2011 fully within a year. “The process to implement the law will begin shortly and cooperation from everyone is very much…
Bangladesh apparel industry blacklists US clothes retailer Seduka
Bangladesh, the world’s second largest apparel exporter, has blacklisted one of its buyers from the United States.Seduka Jeans Inc USA stands boycotted by the Bangladesh Garment Manufacturers and Exporters’ Association (BGMEA).The decision was taken after a request from the foreign…
Dr. Atiur wants aligning financial system for sustainable development
Bangladesh Bank (BB) Governor Dr. Atiur Rahman made a presentation at the third Advisory Council Meeting of UNEP’s inquiry on ‘Design of a Sustainable Financial System’ held in Zurich, Switzerland on 05 May 2015. The meeting was attended by all…
Dhaka’s moves countering illicit financing lauded
In a panel discussion of spring meeting of World Bank events on illicit financial flows agenda held at Washington DC on 17 April 2015, has won the plaudits of Raymond WBaker, President, Global Financial Integrity (GFI), a non-profit, Washington based…
One of six business pioneers in finance of all time
Financial Times has chosen Professor Muhammed Yunus as one six greatest Finance Pioneers of all time. In the March 31, 2015 issue in an article entitled “Business Pioneers in Finance” Professor Yunus has been placed alongside Warren Buffett, Amadeo Giannini,…
World Bank puts pol turmoil loss at Tk 17,150 crore
Bangladesh has suffered a financial loss of around $2.2 billion or around TK 17,150 crore in the current fiscal year especially over the last three months due to political turmoil, said the World Bank. The World Bank revealed the findings…
Hakim Yusuf Harun Bhuiya elected SIBL Director
Hakim Md Yousuf Haroon Bhuiyan, Chief Motualli and Managing Director of Hamdard Bangladesh Ltd, has been elected director of Social Islami Bank Ltd (SIBL).
1pc surcharge on mobile phone usage in offing
A new law has got the Cabinet’s final approval for imposition of a one percent surcharge on mobile phone usage. The Development Surcharge and Levy Act 2015 was cleared in Monday’s regular Cabinet meeting chaired by Prime Minister Sheikh Hasina.…
Prof Yunus’ Gift Tax issue
Professor Yunus receives very high fees for speaking at international conferences. At many places, audiences purchase tickets to hear him speak. Several books written by him have been translated into 25 languages around the world. His books have been included…
IMF says, 6pc growth in Bangladesh this fiscal
The International Monetary Fund (IMF) on Tuesday said the resurgence of unrest in recent months is taking a toll on the economy in Bangladesh and expects that the real GDP to grow by about 6 percent in the current fiscal…
Foreign exchange reserve now $23billion
The country’s foreign exchange reserve on Thursday set a new record hitting $23.03 billion on the positive remittance inflow. “The decrease in import also contributed to setting the new forex-reserve record,” according to a Bangladesh Bank press release.
‘Speeding up rural socioeconomic uplift underscored’
Speakers at the inaugural ceremony have stressed for speeding up of the socioeconomic uplift in rural areas through strengthening unity and organisational activities of the local communities.
Youth unemployment, income inequality keep rising
By Josh Butler U N, Feb(IPS) – Global youth unemployment may be “six or seven times” what the International Labor Organisation’s (ILO) latest figures state, due to what a youth advocacy group calls a flawed system of assessment. The ILO…
Blockade economic loss Tk 750 billion: FBCCI
The economic loss to the countrywide ceaseless blockade and recurring shutdowns would be not less than Taka 75,000 crore, said the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). Reading out a statement here Sunday at the street protest…
Bangladesh-EU joint economic commission likely soon
A Joint Economic Commission (JEC) will be formed between Bangladesh and the European Union (EU) with a view to increasing mutual financial assistance. An EU delegation headed by its Ambassador Pierre Mayaudon informed Speaker of the House Dr Shirin Sharmin…
Graft, pol pressure bedevil CAG office: TIB
Besides massive internal corruption, the Office of the Comptroller and Auditor General (CAG) is hobbled by immense political pressure distorting its recruitment process, according to a new study of the Transparency International Bangladesh (TIB). It says politicians, including ministers, MPs…
Tackling poverty, climate change two sides of the same coin
This year presents significant opportunities for the global community to lay the foundation for a development agenda that puts efforts to tackle climate change and poverty on the same path. In recent years, the development community’s efforts to eradicate extreme…
IMF lowers global growth forecast to 3.5 percent
The International Monetary Fund (IMF) has lowered its forecast for global economic growth for this year and next. The IMF now expects growth of 3.5pc this year, compared with the previous estimate of 3.8pc which it made in October. The…