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Lankan conglomerate bets on Bangladesh's services market

Sri Lankan conglomerate Softlogic Group plans to enter Bangladesh's services sector with the acquisition of a life-insurance company and a hospital to begin with.Chairman of the group Ashok Pathirage told The Financial Express on Monday about initial progress they have made."We have agreed to buy one of the life-insurance companies...

Ambitious ADP holds huge block allocations

Government's highest economic-policy body Monday endorsed an ambitious Tk3.0-trillion annual development programme (ADP) for the upcoming fiscal year with nearly one-third of the money earmarked as block allocations.Economists forewarn that such huge block allocations could create room for misuse of the public funds and undertaking "politically motivated" projects, but the...

Stalemate prevails over loan-release negotiations

Government negotiations with the International Monetary Fund on the release of next tranches of its US$5.5-billion credit programme couldn't make tangible progress, sources say, prompting IMF rethink.After returning home from Washington, DC, Finance Minister Amir Khasru Mahmud Chowdhury in a briefing on April 19 told newsmen that the discussion with...

Near-impossible revenue challenge amid mounting debt, say experts

Bangladesh's proposed budget for the fiscal year 2026-27 faces a "near-impossible revenue challenge" amid mounting debt obligations, subsidy pressures, and growing political commitments, speakers warned at a pre-budget dialogue on Monday.The dialogue, titled "National Budget 2026-27: Political Promises and Citizen Expectations," was organised by the Citizen's Platform for SDGs, Bangladesh,...

Eid-ul-Azha to be celebrated on May 28

Bangladesh will celebrate Eid-ul-Azha on May 28 as the crescent moon of the Islamic month of Zilhajj was sighted in the sky over Cox's Bazar on Monday.The National Moon Sighting Committee announced the decision after a meeting held at the conference hall of the Baitul Mukarram National Mosque in the...

WB nods addl $350m for BD LNG imports

The World Bank (WB) has approved an additional US$350 million in financing to help Bangladesh import liquefied natural gas (LNG) and strengthen the country's energy security amid global market volatility.The fund is being provided as additional financing for the Energy Sector Security Enhancement Project in Bangladesh, which was launched last...

Planners oppose expensive BRT demolition, suggest bailout

FE REPORT Leading urban planners oppose the recommendation by a BUET expert team to shut down the much-talked-about BRT project, arguing that completion would cost far less than demolition. They estimate the dismantling of the massive structure would require between Tk 10 billion and Tk 120 billion.Leaders of Bangladesh Planners...