Finance News: Latest Financial News, Finance News today in Bangladesh

Power distribution, petroleum import going private

Power distribution and petroleum import are set to be privatised under sweeping reforms in Bangladesh's hard-up energy sector as the new government aims to cut subsidies and bring efficiency in the vital field. Officials say the revamping plan comes as the sector has suffered from years of weak planning and...

Investment to elude BD sans reliable energy supply, predictable policies

Bangladesh will struggle to attract both local and foreign investment unless it ensures a reliable energy supply and predictable government policies, says ICC Bangladesh President Mahbubur Rahman.He rings alarm bells as the country's prolonged energy crisis is pushing industries towards collapse and threatening the banking sector.Speaking from the audience at...

FSRU fault disrupts gas supply nationwide

A technical fault at one of Bangladesh's floating LNG terminals has disrupted gas supplies across the country, prompting low pressure for households, industries and CNG stations, although the government expects normal supply to resume within two to three days.Joint Secretary of the Energy and Mineral Resources Division (EMRD) under the...

Bangladesh-China JV co gets 10mw solar power plant installation job in Bhasan Char

A joint-venture company of Bangladesh and China has secured the works for installing a 10-MW solar power plant in Bhasan Char with battery backup to light the homes of Rohingya community members living in the island.The Cabinet Committee on Government Purchase gave the approval at its meeting on Wednesday with...

DAE seeks extension amid Tk 17b irregularities

The Department of Agricultural Extension (DAE) is making repetitive attempts to secure a two-year extension of a project despite the findings of widespread financial irregularities throughout its implementation.For the "Farm Mechanisation Through Integrated Management" project, the controversy begins with fixing the price of a kitchen cleaver at Tk 10,000.The Planning...

Jamaat expels Satkhira-4 MP Gazi Nazrul

Bangladesh Jamaat-e-Islami (BJI) has expelled Satkhira-4 Member of Parliament (MP) Gazi Nazrul Islam from the party after an internal investigation found evidence of "moral misconduct".The decision was made at an emergency meeting of the party's central executive council held on Wednesday afternoon at the official Dhaka residence of Opposition Leader...

Will expelled Jamaat MP lose his JS seat?

The expulsion of Jamaat-e-Islami MP Gazi Nazrul Islam from the party has triggered a constitutional debate over whether he can retain his seat in Bangladesh's parliament, exposing a legal grey area that has surfaced only rarely in the country's political history.Nazrul, 74, represents the Satkhira-4 constituency of Jatiya Sangsad (JS)...

US hits Iran, says war cost at $37.5 billion

TEHRAN, July 22 (AFP): Fresh US strikes triggered air defences in Tehran on Wednesday after President Donald Trump warned he was "not finished" with a war with Iran that has already cost his nation $37.5 billion.After the foes' fighting over the strategic Strait of Hormuz led to the collapse of...