Excise duty on deposits to rise

Excise duty on high-figured bank deposits may rise in the upcoming fiscal year under a government move to tax higher the well-off to narrow gaping income inequality, officials said.The VAT (value-added tax) wing of the revenue board would restructure the...

Jawaharlal Nehru: India's vibrant voice in the world

Sixty years ago, on 27 May 1964, Jawaharlal Nehru’s life came to an end. Six decades after his death, there are the many reasons to remember the man and political figure he was. India’s first prime minister had been ailing...

Expatriate workers are more than just numbers

In a recent parliamentary session, the Minister of State for Expatriate Welfare and Foreign Employment disclosed the government's ambitious plan to send six million workers abroad over the next five years. The plan seems achievable, if seen in the context...

Taxes on basic consumer commodities being halved

Taxes on numerous basic consumer commodities are getting cut to half as the government is set to bank on fiscal measures to combat high food inflation, sources say.Existing tax on procurement of rice, wheat, potatoes, onions, garlic, green peas, gram,...

Export trends and dynamics in BD

Despite the success in garments exports, the overall export size in Bangladesh remains modest and is characterized by a staggering concentration. Among the Least Developed Countries (LDCs), Bangladesh is often regarded as an example of export-led growth and development. Over...

Road links of hill districts snapped

CHATTOGRAM, May 27: The road-communications network of Chattogram with its neighbouring Bandarban, Rangamati, Khagrachhari and Cox's Bazar districts got disrupted due to submersion of roads on Monday.Arakan road, Hathazari and Raozan roads became flooded with driving rain and tidal waters...

Corporate tax not rising for compliant listed companies

Tax rates for publicly-listed companies may remain unchanged in the upcoming fiscal year while some changed parlances could make uncertain the availing of lower tax rates tagged with conditions, sources say.However, although the tax rate would remain same, in principle,...

Definition of comfortable living, affluence

The annual median income of a single, full time worker in the USA is around USD 60,000, according the country's Labour Bureau data, reports CNBC.But to live comfortably in any of the expensive states like Massachusetts, Hawaii, California, New York...

Zero-coupon bonds come to the rescue of cos in keeping borrowing costs low

Amid monetary tightening, businesses have been inclined to issue zero-coupon bonds to collect necessary funds.In the five months to March this year, at least eight companies received regulatory approval to collect more than Tk 42 billion through zero-coupon bonds that...

Flora and fauna on decline in Fasiakhaly Wildlife Sanctuary

COX'S BAZAR, May 26: Once rich in biodiversity, Fasiakhaly Wildlife Sanctuary in Chakaria upazila of Cox's Bazar district has started losing its large collection of flora and fauna. Various species of ancient trees and animals which existed in abundance here...

Crime and corruption are inseparable bedfellows

Three pieces of screaming news have rocked the country. The number one is the grisly murder of a member of parliament (MP) in Kolkata. Unlike this, the two others concern allegations of abuse of power for accumulation of wealth. Involved...

Restoring public trust in banks

People consider banks as the safest place on earth to keep their money and other valuables. In ancient times, religious temples also doubled as banks where rich people including merchants would deposit their wealth. Temples also acted as money lenders....

NBR to realise undisputed taxes from frozen bank accounts

The tax authority has decided to realise the undisputed taxes from frozen bank accounts of around 20 top private universities as the institutions remained non-responsive to calls for paying the taxes during the last two months, sources said.At present, nearly...

Full internet service expected by June

Bangladesh is likely to have its internet services fully restored in early June following a submarine cable disruption on April 19.Efforts are well underway to redirect bandwidth and maintain stability in service, with additional challenges arising from a crackdown on...

Combating human trafficking

Human trafficking is an affront to any decent society with an iota of self-respect and moral standing. It is unquestionably a crime against humanity and is especially embarrassing to a nation that claims to be marching forward on the highway...

Bangladesh-India trade dynamics

It was 50 years ago when Bangabandhu Sheikh Mujibur Rahman, the then Prime Minister of Bangladesh, visited the Indian capital, New Delhi, at the invitation of Indira Gandhi, the then Prime Minister of India. The five-day visit from May 12...

LDC graduation and export prospects of Bangladesh

The strategic emphasis on export diversification has been a long-standing policy objective in Bangladesh, as evidenced in its various medium-term national planning documents and long-term perspective plans. Nevertheless, the country’s export structure continues to be predominantly concentrated in apparel products—most...

ICB Islamic Bank: Retail investors to get nothing if govt refuses to revive it

General investors are highly unlikely to get back anything out of their investments in ICB Islamic Bank unless the government provides it with necessary funds and overhauls it. Presently, general investors constitute a 25.42 per cent stake in the bank,...

BTRC publishes draft telecom sharing rules

In a move to reduce duplicate infrastructure and make better use of existing networks, the telecom regulator is finalising guidelines for telecom infrastructure sharing in a fair, transparent and non-discriminatory way.After years of discussion, the Bangladesh Telecom Regulatory Commission (BTRC)...

Package plan drawn for square deals in rawhide

Government authorities braced with a to-do list to ensure a fair deal in rawhide, valuable for Bangladesh's export-potential-bearing leather industry, as around 13 million animals are ready for sacrificial fiesta. A set of steps planned include preventing any attempt to...

Go tough to cut down classified loans

Annoyed about spiralling classified loans, government's finance authority asks state-owned commercial banks (SoCBs) to take "strong measures" to lessen the load of defaults that seriously impact overall financial situation.Such strong message came after the Financial Institutions Division under the Ministry...

Ctg faces crisis of sacrificial cattle

CHATTOGRAM, May 24: The greater Chattogram region is facing a shortage of sacrificial animals as local production is unlikely to meet the demand in the forthcoming Eid-ul-Azha.Moreover, the import of sacrificial animals from the neighbouring countries, including India and Myanmar,...

This really is a month of mellow sweetness

The Bangalees love to call Jaisthya their 'madhu mas' (month of honey). No, honey does not flow from anywhere during this month. Rather, the temperature soars to levels often beyond tolerance. Yet this late summer months present the sweetest and...

The Achilles heel of BD economy

Budget-eve is perhaps the most relevant time to think about the Achilles heel that underlies most of the macro-economic woes of Bangladesh economy. It is a generic name that has been downplayed through the use of various names representing its...

Why agri-magic falling flat to Bangladesh farmers?

Soon after its independence in 1971, western communities and foreign development agencies largely wrote off Bangladesh. Food insecurity for roughly 70 million people in a war-torn nation was the reason for labelling the country a "bottomless basket." But the country's...

What is good for America is not good for the rest of the world

Senator Bernard, popularly known as Bernie, Sanders' credential as a progressive politician is beyond doubt. Credited to be the longest serving independent in the history of US Congress, he ran for Democratic presidential nomination in 2016 and 2020, each time...

Ctg port moves to fight river pollution

CHATTOGRAM, May 22: The Chittagong Port Authority (CPA) is going to set nets at the canal mouths in a bid to prevent entry of garbage into the Karnaphuli river for keeping its water free from pollution.CPA Chairman Rear Admiral Mohammad...

Law to administer e-com sector on the cards

To bring the country's fast-growing e-commerce sector under a legal framework, the commerce ministry has drafted a law with provisions for punitive measures against fraud and deceptions.The draft on the proposed Digital Commerce Authority Act (DCAA) is scheduled to be...

Fixing next growth rate in quandary after current GDP-target failure

Less-than-expected economic growth in the outgoing fiscal year has thrown finance officials, who are now preparing a contractionary budget, in dilemmas over fixing next GDP-growth target.Bangladesh Bureau of Statistics (BBS) Monday released provisional data of gross domestic product (GDP) for...

Corporates may get black money-whitening facility in next budget

Black money may make a comeback as the government considers reinstating black money-whitening facility in the new budget, starting with corporate amnesty, trying to resuscitate sluggish economic activity. It comes out as a first-ever step, officials say, to allow corporate...