Trade deficit widens over threefold

Bangladesh's trade deficit widened over threefold in the first quarter (Q1) of the current fiscal year for higher import-payment pressure, officials said, casting its cascading impacts on the economy.The country's trade imbalance with the rest of the world increased by...

Chaos in Ctg over bus-fare hike

CHATTOGRAM, Nov 08: Chaos descended on public-transport sector in the port city over a hike in fares of buses and other modes of oil-run transports as the government-set new fares came into force on Monday.Hot exchanges and clashes between bus...

Older generation in the dock

Thousands of young climate activists from across the world gathered in Glasgow where the COP26, climate summit, is being held. Even children joined the protest marches skipping their classes. They have expressed concern over their governments' inaction in the face...

Apparel co vanishes with Tk 7.0b unpaid tax

An export-oriented apparel company winds up operations from Bangladesh allegedly availing duty-free facility and evading around Tk 7.0 billion in duty-taxes.Officials said World Ye Dress Pants Ltd, which started off as a joint-venture company and later became independent through acquisitions,...

Most listed private power cos see profit growth in FY21

Most listed power generation companies in the private sector logged higher profit year-on-year in the fiscal year (FY) 2020-21, thanks to higher income from subsidiaries, reduced corporate tax and lower interest rate.Out of the 23 companies listed in the 'fuel...

An injudicious decision and its fallouts

When price of soybean oil was raised by Tk 4.0 a litre in the first week of September and then by Tk 7.0 in the third week of October last, there was no protest despite seething resentment among the public....

Time to demonstrate sincere intent

Neighbouring India is set to exceed its fiscal year (FY) 2020-21 revenue collection target of $207.77 billion, reported international news agency Reuters, quoting two unnamed government sources. But, instead of cutting its fiscal deficit or bank borrowing, the Indian government...

BD, India and Nepal to resume talks in Delhi on Nov 12

Bangladesh, India and Nepal among BBIN member countries are set to resume the talks on Motor Vehicle Agreement (MVA) in New Delhi on November 12 -- almost two years after the last meeting was held.As Bhutan is yet to ratify...

BD sees rise in fish production in a decade

Production of different varieties of fish has increased in the country over the last one decade, thanks to the government's prudent and effective policy. The country produced over 4.503 million (45.03 lakh) tonnes of fish during the fiscal year (FY)...

Oil shock to fuel inflation further

This is an oil shock. The government has raised the prices of diesel and kerosene at the retail level by 23 per cent or Tk15 per litre 'to keep them in line with the global market.' The new price of...

BD to back all health-related submissions for WTO seal

Bangladesh has decided to support all health-related submissions at the World Trade Organisation (WTO) provided technology transfer to least-developed countries (LDCs) is incorporated.Following the coronavirus outbreak globally in early 2020, four proposals were submitted to the WTO general council relating...

100 trees felled on Ctg roads to build structures

CHATTOGRAM, Nov 03: A section of traders are felling trees indiscriminately in the port city to construct shops beside roads, on footpaths and in open spaces of Chattogram City Corporation violating rules.Sources said some local influential people, including ruling-party leaders...

Stocks tumble as investors sit on the sidelines

Stocks plummeted for the fourth straight week that ended on Thursday as cautious investors continued to sell off shares in major sectors in the absence of market triggers.Of the five trading days during the week, the first four sessions saw...

Jute ministry rejects proposal on export project plan

Textiles and jute ministry has turned down a commerce ministry proposal for a project plan to expand the export of jute and jute goods, officials said."Any scope to take a project for enhancing the export of jute and jute goods...

Recognising the value of space

Bhanu Bandapadhya, known for his extraordinary wit and humour, used to cut jokes out of the ordinary. One of his celebrated joke concerns football as he poses the question, why so many boys are running after one ball when they...

Why ocean conservation matters

The 2021 United Nations Climate Change Conference, also called COP26, began at the Scottish Event Campus in Glasgow on October 31. The event brought global leaders together to speed up action towards the goals of the Paris Agreement and the...

Rehabilitating Sundarbans pirates

Between 2016 and 2018, 326 robbers, or what they say, pirates, operating in the Sundarbans, surrendered to the Rapid Action Battalion (RAB), informed the elite anti-crime and anti-terror police of Bangladesh. The pirates quit their criminal activities of holding people...

Forex reserves strained

Bangladesh's foreign-exchange reserves are under pressure from different dimensions, principally for unabated dollar-price appreciation and costlier imports, sources say. Officials attribute the imbalances mainly to higher import-payment obligations particularly on account of fuel oil, fertilizer and capital machinery, as reports...

Yet another surprise for consumers

The news that the fuel oil prices might go up soon was in the air for the past few weeks. It happened Wednesday night when the government hiked the prices of diesel and kerosene by Tk 15 a litre. The...

Glasgow Climate Change Conference

The Glasgow Climate Change Conference now being held as part of a yearly meeting under the United Nations Framework Convention on Climate Change has delivered its first positive outcome. By agreeing to 'working collectively to halt and reverse forest loss...

Paradigm and paradigm shift: How do we see the world?

Our beliefs are shaped by surroundings. Those beliefs are profoundly rooted in our culture and tradition. Beliefs become paradigms, which are philosophical and theoretical frameworks for life. We all know the story of the glass-- whether the glass is half-full...

Taxpayers to get rebate on Sukuk

The tax authority has moved to offer an investment rebate facility to the individual investors of Shariah-based Islamic bond-like instrument Sukuk.Once the tax rebate is allowed, individual taxpayers will be able to lessen their tax burden through investment in Sukuk....

Deposit interest rates rise as spread squeezes

Depositors are to gain as the interest-rate spread narrowed slightly as banks increased deposit rates after nearly two years by keeping lending rates unchanged, bankers says.Adjustments are taking place well within the government-set 9-6-per cent bracket in banking operations, determined...

Most listed general insurers' profit jumps in Jan-Sept

The earnings of 88 per cent listed general insurers' soared year-on-year in the first nine months for January-September 2021 riding on a jump in return from investments in the capital market.Industry insiders said the listed general insurance firms have been...

To learn, and to lead

Community, communication, connection and correlation have existed since time immemorial. But the norm has gained a tempo in modern times for faster networking or social connectivity tools. This linkage has now become par for the course with the social ecosystem....

BD likely to ink PTA deal with Sri Lanka by March next year

Dhaka wants to conclude preferential trade agreement (PTA) with Colombo on March 4th next, now that Bangladesh begins to arm itself with trading tools for its graduation into competitive-market regime. The specific date tentatively set well before completion of the...

Tolls for Bangabandhu, Muktarpur bridges hiked by 11 to 25pc

Transport users of two major bridges in the country, including Bangabandhu Bridge, will have to pay 11 to 25 per cent higher tolls as the revised rates were announced by the authorities concerned after more than a decade.The new tolls...

BB seeks govt opinion on Tk 2.14b payback

The central bank of Bangladesh has sought opinion from government authority on payback of over Tk 2.14 billion in e-commerce customers' money stuck up in different payment gateways."Since the amount that the e-commerce companies owed to the customers cannot be...

Taxpayers outside Dhaka yet to benefit from e-TDS system

Taxpayers outside the capital are yet to get the electronic tax deducted at source (e-TDS) facilities launched last month.Although the system has been launched amid huge enthusiasm across the country, its integration with the scheduled banks is yet to be...

Modhumoti to expand digital presence

Modhumoti Bank Limited (MMBL) has committed to bring more un-banked people in the banking network by extending technology-based services to the doorstep of each person, the bank's top executive has said."We're doing banking for all, not for any class," Shafiul...