Janata Exchange in Italy survives closure bid

A rethink on proposed shutdown of the perennially losing Janata Exchange Company in Italy saves the offshore entity amid fear of negative impacts on remitters and resultant governmental image crisis, officials said.The Financial Institutions Division (FID) under the Ministry of...

Phenomenal rise in FDI proposals for BD Greenfield projects

Though the inflow of foreign direct investment (FDI) in Bangladesh declined significantly last year, foreign-investment proposals in greenfield projects posted a record jump during the period under review.World Investment Report (WIR) 2024, released on Thursday afternoon in Geneva by the...

BB seeks sovereign guarantee against loan to ICB

The Bangladesh Bank (BB) will consider the plea of the state-run Investment Corporation of Bangladesh (ICB) for a loan of Tk 50 billion only if the government gives sovereign guarantee for the fund.The central bank said this in a letter...

In search of AI-driven companions

In the Oscar-winning US movie "Her", a heart-broken man falls in love with the voice of an artificial intelligence (AI) character, a girl. In China, the opposite is happening right now. It is, however, not a single case of a...

TCB seeks Tk 16b to cover H1 2023 trading losses

The state-owned Trading Corporation of Bangladesh (TCB) has sought around Tk 16 billion to cover losses incurred in the first half of last year due to selling key essential commodities at subsidised rates among 10 million low-income families, sources said.Last...

Enhancing security of government websites

Gaming and gambling online are at an all-time high, and regulatory bodies are seemingly clueless about stopping it. Although the Constitution of Bangladesh prohibits gambling, no fewer than 3,000 government websites alone are reportedly aiding and abetting the promotion of...

Leaders in their forties . . . and making a difference

In an era where political leadership appears to be slipping into the hands of old or close to old men and women around the globe, it is heartening to know that Emmanuel Macron is around to remind us of the...

BSEC to curb leeway of unruly auditors

The securities regulator on several occasions felt that their hands were tied against auditors, which had helped market intermediaries commit financial frauds, to the disadvantage of investors. The auditors were not from the panel that the Bangladesh Securities and Exchange...

e-GP promises a complete procurement system

The Government of Bangladesh introduced electronic Government Procurement (e-GP) system to digitise public procurement processes. The formal inauguration of the e-GP portal took place on June 2, 2011, marking the beginning of digitisation in public procurement. The Bangladesh Public Procurement...

Economic benefits Eid-ul-Adha brings

Eid-ul-Adha, the second-largest religious festival for people of Islamic faith, will be celebrated with due fervour and solemnity on Monday, June 17. Eid-ul-Adha, also known as the festival of sacrifice, is not only a solemn religious occasion, but also it...

Rise in public debt burden

Across the globe, the alarming surge in public debt has escalated into a pressing issue for international policymakers and analysts. The volume of public debt, commonly known as general governmental domestic and external debt, has nearly doubled over a span...

Six state banks struggle to recover written-off debts

Six state-owned commercial banks altogether recovered a nominal amount of their written-off loans against the government targets during the first quarter of the current calendar year, show Bangladesh Bank data, as a former central bank governor has accused bankers of...

Govt may disperse SOEs' growing foreign loan liabilities

Sovereign guarantee guidelines are up for a recast to disperse government liabilities stemming from ballooning foreign loans taken by state-owned enterprises (SoEs), at a time when overall public debts are swelling, sources say. Also, the government move is meant for...

Evolving rural nuclear families, superstores

Tale One: Rural Nuclear FamilyRural Bangladesh portrays its lush green landscapes and lively communities through the tightly knit joint family system. The traditional extended family setup is based on principles of shared ownership and collective responsibilities among family members, creating...

Multifarious constraints to making most of the holiday

Megher kole rod hesechhe, badol gechhe tutiAaj amader chhuti o bhai aaj amader chhuti. Chhuti means break, recess or period of leave. It is a time off. Off from what? For students, a break from the school routine---class attendance and...

Where engineering and technological universities falter

The Quacquarelli Symonds (QS) University Rankings, the pioneer in this field, has come up with ranking of global universities for their excellence in higher education for the year 2025. It is also the first to introduce what it calls the...

Justifying increased health budget for improved healthcare

Bangladesh has made notable strides in its health sector, earning accolades both nationally and internationally. Yet, beneath these achievements lies a troubling reality: the sector is riddled with inefficiencies and weaknesses, starkly exposed by various national and international emergencies including...

India submits revised proposal for trial run

India has proposed afresh to conduct a trial run of a freight train up to Bhutan border via Bangladesh.The country has sent a revised draft memorandum of understanding (MoU) in this regard through its mission in Dhaka to the authorities...

Tax waivers to lure businesses into special zones should continue

Berger Paints purchased land in Bangabandhu Sheikh Mujib Shilpa Nagar as part of an expansion plan drawn up after it felt encouraged by tax exemptions promised on profits from operations in the special economic zone. Not only Berger but also...

Budget offers little for health

To say that the country's healthcare sector is ill and in dire straits is stating the obvious. Symptoms of this ailing sector manifest in myriad forms from time to time. That includes the never-ending sufferings of poor patients unfortunate enough...

A tale of two sub-continental families

Indira Gandhi was busy at the celebrations of India's independence day on 15 August 1975 when she was given news of the assassination of Bangabandhu Sheikh Mujibur Rahman and most of his family earlier that morning in Dhaka. It was...

Bring variations in your meaty Eid weekend foods

A beloved Islamic celebration, Eid ul-Adha is marked by pleasure, thankfulness, and an abundance of sacrificed meat. Although the celebration unites communities and families, it frequently results in a food dilemma. There is an excess of meat dishes, especially the...

When data manifests sheer frustration of investors

Zahirul Islam (not the real name) gave Tk 2 million to Midway Securities on Sunday to buy Treasury bonds from the auction scheduled for Tuesday.He had liquidated his entire equity holdings at a loss of Tk 0.6 million to take...

Equity market needs a "rethink" for investors to return

Investors have turned their back on the stock market. It is not just tax measures in the proposed budget or macroeconomic indicators, such as high inflation and depletion of foreign exchange reserves, which are driving out money from stocks. A...

Patenga Container Terminal starts operation under Saudi company

CHATTOGRAM, June 10: The long-awaited Patenga Container Terminal (PCT) of Chittagong Port started its operation under the management of Saudi company 'Red Sea Gateway Terminal' (RSGT) on Monday.MV Maersk Davao, a Singapore-flagged container vessel, first berthed at the jetty of...

Is World War III imminent?

After witnessing the destructive power of nuclear bombs that the USA dropped on Japanese cities of Hiroshima (August 6, 1945) and Nagasaki (August 9, 1945) at the end of the World War II, the world came up with a deadly...

Takeaway from FY25 budget

Except reduction in the rate of duty on chocolate there is a very little in the draft budget for the fiscal year 2024-2025 (FY25) that can be said to be a surprise. It was a foregone conclusion that the proposed...

Regulator suspends block trades in assets of RACE-managed pooled funds

Block trades in assets in the portfolios of all mutual funds (MFs) managed by the country's largest private asset management company RACE will remain suspended until the regulatory body issues an order upon completing an investigation. The suspension order was...

How much one needs for a decent living!

Very good looking and suave, he made a favourable impression on all who watched him speaking softly, never betraying impatience and anger. The high positions he graced and the personality he cultivated seemed to be made for each other. He...

Action plan underway to devise investment-friendly tariff regime

An action plan is being framed to execute Bangladesh's maiden tariff policy focused on devising tariff structures that promote investment and competitive domestic production line. Sources say Bangladesh Trade and Tariff commission (BTTC) will prepare a draft action plan on...