BB cuts key policy rates

The central bank unveiled on Wednesday an expansionary monetary policy for the current fiscal year aiming to speed up recovery of the pandemic-hit economy.As part of the expansionary policy stance, the Bangladesh Bank slashed overnight repurchase agreement (repo) rate by...

Entrepreneurship, gateway to sustainable development

As Covid-19 pandemic is forcing changes into every aspect of human life, people need to bring changes in the way of their thinking. Mohammad Saiful Islam interviewed Sarah Kamal, the national president of Junior Chamber International (JCI) Bangladesh, to know...

Causes and costs of money laundering

Higher levels of corruption are often associated with large underground or black economies. A 2018 study by IMF estimated the size of the underground economy in Bangladesh to be around 30 per cent of gross domestic product (GDP), the average...

Post-Covid 19 perspective: A V-shaped recovery imaginable?

Almost four to five months on, yet the flurry of devastation from Covid -19 isn't over. Already lots of people across the globe have lost their jobs or are on the verge of losing. The economy is reeling from the...

Move to stop tax evasion on cars

The National Bard of Revenue (NBR) has joined its hand with the Bangladesh Road Transport Authority (BTRA) to scrutinize information of vehicle owners to check tax evasion.The step has also been taken to thwart the use of fake TIN for...

NGOs to save or exploit people?

We have a common perception towards Non-Government Organisations (NGOs) that they suppress and exploit our poor people. So, it is not very unusual to thinkthat NGOs are charging very high interest and taking loan instalments forcefully and causing more trouble...

NBR to introduce automated challan from mid-August

The National Board of Revenue (NBR) is set to launch an automated challan system for income taxpayers from mid-August in a bid to check submission of fake challan.The NBR and Finance Division will jointly implement the system to thwart tax...

BB releases monetary policy tomorrow

The central bank unveils its monetary policy for this fiscal year tomorrow (Wednesday) aiming to help revamp the economic activities through the implementation of stimulus packages.Bangladesh Bank will announce the monetary policy statement (MPS) for the fiscal year 2020-21 on...

Govt updating laws to snare foreign investors

The government is streamlining five laws as part of its efforts to attract foreign direct investment or FDI, which may shift in the post-pandemic era, officials have said.The laws are the Foreign Exchange Regulation Act, 1947, the Bank Company Act,...

New design of rural roads on the anvil

The design of over 70,000-kilometre road at upazila and union levels is set to be revised amid remarkable growth of both traffic volume and rural economy.Sources said local government engineering department (LGED) has already finalised design standards based on traffic...

BD auctions white tea for first time

CHATTOGRAM, July 27: For the first time in the history of tea auction in the port city of Chattogram, white tea was sold in the auction on Monday.White tea was sold in the regular auction of the season.Only 10 kilogram...

Cattle traders at mercy of extortionists in Ctg

CHATTOGRAM, July 27: Cattle traders who are coming to the port city to sell sacrificial animals ahead of Eid-ul-Azha are at the mercy of extortionists and lessees of the makeshift cattle markets. Talking to The FE, some traders alleged that...

The Covid-19 gender gap

The Covid-19 pandemic threatens to roll back gains in women's economic opportunities, widening gender gaps that persist despite 30 years of progress.Well-designed policies to foster recovery can mitigate the negative effects of the crisis on women and prevent further setbacks...

NBR readies procedures

Bangladesh is set to work out a comprehensive procedure to conduct transshipment of goods with India, Nepal and Bhutan on three routes -- sea, land and air.Following the recent kick-off of the Indo-Bangla transshipment of goods via sea route, the...

Eid cattle markets picking up momentum in Ctg

CHATTOGRAM, July 26: Markets of sacrificial animals in the port city have started picking up momentum this week, with Eid-ul-Azha drawing nearer. Sources said there is no dearth of sacrificial animals in Chattogram this year. Cattle farms and many individuals...

Home for the homeless

By all means it is an ambitious project but the country's prime minister took personal interest to make it happen. On Friday, she inaugurated the Khurushkul Ashrayan Prokalpa in Cox's Bazaar through a video conference. Six hundred families rendered climate...

Uncertain time for the poor

The country's poverty situation is becoming truly grim and it might even turn worse due to the ongoing onslaught of floods.The COVID-19 pandemic by its devastating impact on economic activities has unsettled the process of poverty eradication that has been...

That perennial, painful question . . . 'bhaat aase?'

It was a plaintive question, part of a dialogue in a television play. And yet it was reflective of the pain that has marred the lives of millions of people in our part of the world. The middle-aged boatman, unable...

India to provide 10 locomotives to BD

Bangladesh Railway (BR) is set to receive 10 broad-gauge locomotives from India as a grant, which will help facilitate passenger and cargo movement through rail in the country.A ceremony marking the handover of the locomotive will be held at Darsana-Gede...

BSEC cautious about Robi's IPO approval

The securities regulator is likely to approve the IPO (initial public offering) proposal of the country's second largest mobile operator Robi Axiata streamlining its demands in line with the existing rules. Robi has urged the securities regulator and the government...

Promoting investment: Can 'Ease of Doing Business' help?

Mankind has witnessed many wars, crises and even pandemics but it has never ever faced anything of the kind and scale of the covid-19 pandemic. It has infected about 15 million people and killed more than 600,000 in the world...

Food ministry in to-be or not-to-be situation

The food ministry is facing a dilemma over whether to resume special open market sale (OMS) of rice at Tk 10 per kg or continue with existing normal OMS service, officials said.To this effect, it has recently sought opinion from...

Virus stalls six PPP projects

The work of six Public-Private Partnership (PPP) projects involving over US$ 3.0 billion investment has virtually come to a halt due to Covid-19 pandemic.Besides, the uncertainty looms large over another proposed PPP investment of $ 25 billion, according to persons...

Online land tax payment likely from August

Online payment of land related taxes is expected to begin from next month as part of the government's move to digitalise the country's land management system, according to land ministry officials. Earlier, the land ministry has taken initiative to help...

Stocks keep gaining amid growing optimism

Stocks posted a modest gain in the outgoing week, extending the winning streak for five consecutive weeks, as optimistic investors continued buying shares on the expectation of improving economic activities.Market operators said gradual reopening of the economy and the stock...

Mooting currency depreciation to revamp economy

In the wake of novel coronavirus, Bangladesh's economy may land in a dire situation in coming days. Economic activity is not being noticed to take place to a great extent. The Covid-19-affected economies in the world have been struggling to...

Sustainable tourism and fisheries key to growth in post-Covid Pacific

Developing countries of Asia and the Pacific are experiencing unbalanced tolls of the Covid-19 pandemic. Grim milestones in infections and deaths have left countless devastated. Yet, we must look at the economic and social impacts in Small Island Developing States...

Reaching out to SMEs in pandemic: How effective is the regional and cluster based targeting?

There are about 10 million micro, small and medium sized enterprises in Bangladesh, accounting for about one-fourth of the total output of the economy. In rural areas, the small businesses have been playing an instrumental role in transforming rural economy;...

NBR to go after VAT dodgers

The revenue board has instructed taxmen to detect the companies, which evade VAT by declaring the supply of goods to local projects to be exports. A number of big companies are taking this undue VAT rebate facility bypassing the existing...

BB launches credit guarantee scheme

The central bank has approved a policy on Credit Guarantee Scheme (CGS) for the first time aiming to expedite financing in the country's cottage, micro and small (CMS) enterprises, officials said.The approval was given at a meeting of the Bangladesh...