Policy and fiscal supports to ease COVID inflicted banking sector woes

It is widely apprehended that the Bangladesh economy is going to be seriously affected by the Covid-19 fallout. The World Bank has already forecast a fall in economic growth to 2-3 per cent in fiscal 2019-2020 and 1.2-2.9 per cent...

BR moves to provide its employees with incentives

Bangladesh Railway (BR) has taken a move to provide its thousands of employees with incentives in recognition of their service during the period of coronavirus pandemic.BR has suspended all its passenger services since the government announced the countrywide shutdown on...

Telcos tangle over spectrum purchase

Market leader Grameenphone and its three rivals--Robi, Banglalink and Teletalk--appear to be at loggerheads over spectrum procurement. The row came to light after a top executive of Robi said it will not take new spectrum now if not given free,...

Most MNCs see surge in 2019 earnings

Earnings of the most of the multinational companies listed on the country's stock market rose in 2019 compared to the previous year.Market operators said the multinational companies performed well as usual in 2019 due to their strong fundamentals, brand value,...

CPA's 133 years of founding today

CHATTOGRAM, April 24: The Chittagong Port Authority (CPA) is observing 133 years of its formation today (April 25).It has been managing cargo handling and other operational activities of Chittagong Port, prime seaport of the country and one of the oldest...

DSE market cap sheds Tk 328b in three months

The market capitalisation of Dhaka Stock Exchange lost Tk 328 billion in just three months of the year as the Covid-19 pandemic wreaked havoc on stocks.The total market cap of the prime bourse was Tk 3,450 billion on January 23,...

NBR allows pvt ICDs to handle all importables

Private inland container depots (ICDs), also known as off-docks, were allowed to store, unstuff and release all types of imported goods from Chattogram port.The National Board of Revenue (NBR) withdrew on Thursday its restrictions on off-docks temporarily until June 30...

Prime Bank puts thrust on game-changing technology

Prime Bank Limited (PBL) has planned to go for massive changes in its banking operation over the next three years adopting the latest digital technology to provide quality services to the customers, the bank's top executive has said. "In line...

Flouting social distancing rules

Social distancing is one of the health advisories the World Health Organisation (WHO) has prescribed as defence against the deadly coronavirus that has so far infected nearly 2.6 million people and claimed about 0.18 million lives in 210 countries across...

No mystery behind meeting corona challenge

A popular conception is that coronavirus pandemic has been wreaking havoc all across the world. As many as 212 countries have come under its relentless attacks and both the number of the infected and the death toll are on the...

Reflections on discriminatory growth

The prospect of the global economy in the near-term is bleak and there is almost no hope that dullness will be subdued in the medium-term. The outlook in the long-term is quite uncertain. Just as anywhere in the world, unofficial...

Ethical basis of pandemic measures

Pandemics like the one caused by novel coronavirus pose significant ethical challenges to preserving public health by states, as the state has a responsibility to promote and protect health of its citizens. Public health officials have numerous tools as well...

Mobile operators struggling to cope with rise in data consumption

The country's mobile phone operators are struggling to cope with a sudden increase in data consumption during the countrywide lockdown.According to operators, data usage has increased by around 20-25 per cent and it is increasing day by day due to...

NBR resumes assessment to release exim goods

The National Board of Revenue (NBR) has resumed full-fledged customs assessment to release all types of export-import goods from customs ports in Bangladesh.The decision has been made following disruptions to supply chain of consumables in the domestic market due to...

Some banks unwilling to open import LCs for dollar shortage

Some of the commercial banks are reluctant to open LCs (letters of credit)for importingessential commoditiesdue to'shortage of dollars'.Bangladesh Trade and Tariff Commission (BTTC) recently pointed out the difficulty being faced by the banks, recommending necessary intervention by Bangladesh Bank (BB)...

Online payment launch for all BR staff delayed

The process of introducing electronic fund transfer (EFT) system in the Bangladesh Railway (BR) has been delayed due to noncooperation of some quarters, causing the state-owned entity to face difficulties in paying salary of its thousands of employees manually during...

Responding to the distress calls

The story of United Health Development Programme (UHDP), an initiative that provides medical transportation service to those in need, is an illustrious one. Innovation comes in its best form when it is generated from need. Osman A Arabi had one...

Govt takes steps to protect livestock sector from losses

The government has embarked on short, mid and long-term measures to help protect the country's livestock sector from possible financial losses caused by coronavirus pandemic, an official said.As part of the move, the Department of Livestock Services (DLS) has taken...

NBR allows CCH to clear all kinds of commercial goods from port

CHATTOGRAM, Apr 22: The National Board of Revenue (NBR) from Wednesday allowed shipments and deliveries of all kinds of goods from Chittagong Port in an attempt to accelerate cargo movement from the country's prime sea port.In the wake of a...

BSEC passes five years to finalise rules on MF

The long-waited amendment to the rules of mutual funds (MFs) gathers dust for more than five years since the securities regulator approved the draft rules to bring disciplines in the MF industry.Asked, an official of the BSEC could not confirm...

Rescuing businesses to protect workers, resuscitate the economy

The narrative of this piece is set by an email from a reader, Thomas Reid (Wealth Management Advisor, TIAA, Michigan) who wrote on April 14: "I was aware of the ETF [exchange Trading Fund] purchasing programme [by the Federal Reserve],...

Ships half-laden with empty containers leaving Ctg port

Most of the vessels are now sailing from Chattogram Port jetties half loaded, mainly with empty containers, due to a dearth of export cargo in the lockdown period amid COVID-19 pandemic, according to officials.Data shows that the port shipped only...

Bond yield drops as banks invest surplus liquidity

The interest rate on Bangladesh Government Treasury Bonds (BGTBs) dropped on Tuesday as the commercial banks preferred investing their surplus liquidity created due to the coronavirus outbreak in the country.The yield, generally known as coupon interest rate, of the two-year...

Yet another cut in tax revenue target likely

The government is considering revising further the tax collection target for the current fiscal year (FY2019-20) in view of the impact of coronavirus pandemic on the economy.The ministry of finance had earlier slashed the target by Tk 250 billion for...

Most listed food & allied companies' earnings dip

Earnings of most of the listed food & allied sector companies plunged in July-December, 2019 compared to the same period of the previous year.Market analysts said many companies are counting further losses as business activities remained almost halted due to...

Commercial wings asked to remain alert

All commercial wings abroad have been instructed to be alert to the supply chain of their respective countries and update the government, officials said.This precaution is taken as Bangladesh may face any odd situation in supplying consumables to the market...

The myth of "Helicopter Money"

Modern Monetary Theory has received unprecedented attention now that policymakers are pursuing extraordinary economic-policy measures to combat the COVID-19 pandemic. Discussing the US Federal Reserve's "whatever it takes approach," CNBC's Joe Kernen recently concluded that, "we are all MMTers now."...

MoC, DGDA take opposite stands on supply of HCQ

Two government's ministries concerned have taken different stands over supply of hydroxychloroquine (HCQ) tablets following worldwide rise in the number of coronavirus-infected patients, including in Bangladesh.The Directorate General of Drug Administration (DGDA), under the Ministry of Health and Family Welfare,...

BB policy supports give banks manoeuvrability

The central bank's policy support is helping banks manage their funds, despite higher withdrawal pressure on cash even as deposits shrink in the aftermath of coronavirus outbreak.People are now withdrawing cash from the banks using both debit and credit cards...

Cops asked to go tough on dishonest UP chairmen

The government has stepped up its efforts to fight against misappropriation of relief materials allocated for the poorer segment during the coronavirus pandemic, an official said.As part of the move, the ministry of local government, rural development and co-operatives has...