BB resumes dollar sale to offset strain on market

The central bank has resumed sale of the US dollar (US$) to banks directly for offsetting extra pressure on the market, caused by lower remittance inflow following the ongoing coronavirus outbreak.As part of the move, the Bangladesh Bank (BB) sold...

Malware found in BB server, again

The data server of Bangladesh Bank is again found to be at risk of cyber attack due to malware transmission, officials have said.The Bangladesh Computer Council, or BCC, has warned the central bank of the possible risk."…the internet protocol used...

Number of active BO accounts dips in Q1

The number of beneficiary owners' (BO) accounts dropped substantially in January-March quarter of the year amid relentless plunge in share prices in recent months.The total number of active BO accounts came down to 2,578,327 as of March 29, 2020 which...

RMG: Desperate times necessitate innovation

'Desperate times call for desperate measures' is an old adage that was probably derived from another proverb, 'extreme diseases must have extreme remedies'. The saying, it seems, now best suits the Bangladesh garment industry. Following the coronavirus outbreak, like most...

The COVID-19 cash out: Digital currency

Because hand-to-hand exchange of physical currency could transmit the coronavirus, countries around the world are being forced to reconsider the use of cash. In fact, COVID-19 might turn out to be the catalyst that finally brings digital payments fully into...

PMO meets tomorrow on virus impact

The government will sit in an emergency meeting tomorrow (Monday) to assess the extent of possible losses caused to the economy by the COVID-19 pandemic and also devise a strategy to tide over it, an official said.The meeting on "Global...

ICT sector wants grant, soft loan

The country's software and information sector has sought a special compensation or grant package for the sector to run their business amid coronavirus outbreak.They also wanted a special soft loan at a low interest rate for software or information technology...

95.2pc complaints addressed

The securities regulator has addressed 95.2 per cent of the total complaints so far made by investors since the introduction of online complaint module.After introduction of Customer Complaints Address Module (CCAM) on September 30 last, a total of 229 complaints...

East Asian lessons for controlling COVID-19

By the third week of March 2020, the number of COVID-19 deaths in Italy had overtaken the number of deaths in China. Authorities all over the world are restricting the movements of their populations as part of efforts to control...

Stocks snap four-week losses on regulatory move

Stocks edged up in the outgoing week, snapping a four-week free-fall, thanks to regulatory move to boost the ailing capital market.DSEX, the key index of the Dhaka Stock Exchange, went up by 33.32 points or 0.84 per cent to settle...

Land use in rural areas

In a country with scarce land and a large population, the pattern of land useis highly important. It is more so following reports that cultivated land in Bangladesh has been declining by 0.31 to 1 percent per year. A selection...

Death vs dollar -- the dilemma for America

In my last article (Economic fallouts of coronavirus and supply chain, March 22), I argued that coronavirus "has created a disease pandemic, a fear contagion, decimating the stock market everywhere, creating what I call "an economic pandemic". To deescalate the...

MoF team suggests policy aid to raise exporters' capability

A government team has suggested providing policy supports to help enhance export capability of local manufacturers, taking into consideration the assistance given by competitor countries like Vietnam, India, Thailand, and Indonesia to their exporters.The suggestion was given, as export dropped...

Pandemic slows pvt sector credit growth further in Feb

Private sector credit growth declined further in the month of February last in view of lower demand for the same.Bankers have attributed the slackening of demand for credit by the private sector mainly to supply chain disruptions caused by the...

The role of press during Liberation War

The newspapers of the then East Pakistan were quite vocal in favour of emancipation of the Bangalis during the non-cooperation movement launched by the Awami League in March 1971 against the Pakistani military junta. In accordance with the directives issued...

Corona: Social distancing to social levelling

Human society is built around socialisation and social closeness. Coronavirus has shattered this behavioural pattern, forcing humans to practise social distancing, isolation and seclusion. This is right now the 'new normal' globally!We can still use telecommunications and the social media...

Democratic administration: Mujibnagar govt vision

A comprehensive report in three parts titled 'Report on the Administrative System and its Reorganisation' was submitted by the Planning Cell of Bangladesh government-in-exile (Mujibnagar government) on December 13, 1971. It minutely dwelt on the problems and potentials of the...

Stronger UN leadership needed to cope with COVID-19 pandemic

The economic impact of the COVID-19 pandemic is hard to predict as events are still unfolding, and estimates vary dramatically. UNCTAD estimates lost output in the order of US$1.0 trillion, just over a third of Bloomberg's expectation of US$2.7 trillion...

Limited banking services from Mar 29 to Apr 02

All the scheduled banks will be allowed to make only cash transactions through the counters or online as the central bank has decided to suspend operations of its systems during the holidays.But the banks will not be allowed to transfer...

Saudi Arabia's radical new oil strategy

Saudi Arabia's recent decision to crank up oil production represents a dramatic shift in its thinking about energy markets and its own reliance on oil revenues. Gone are the days when Saudi oil reserves were prudently managed for future generations....

NBR declines cut in import duty on edible oil, sugar

The national revenue board has declined to reduce the import duty and taxes on sugar and edible oil on the occasion of the upcoming Ramadan. It said any cut in duty and taxes would not benefit the consumers as prices...

Nexus between wars and epidemics in terms of casualties

In 1918 the world population was less than 2 billion. The US population broke 100 million, and the global population reached 1.9 billion. Today: US population is 320 million, and the global population broke 7.5 billion this year.World War I...

Coronavirus toll on economic vibrancy

The spread of coronavirus is going to take a serious toll on the global economy. Different international agencies have already projected that an economic recession is unavoidable. United Nations Conference on Trade and Development (UNCTAD) has made three projections on...

Central bank cuts CRR, repo rate

The central bank has slashed the cash reserve requirement (CRR) by 50 basis points to 5.0 per cent, enabling all the scheduled banks to use over Tk 60 billion additional fund, officials said.As per the revised rules, the banks will...

Walton to receive premium worth Tk 973.12 million

Walton Hi-Tech Industries will receive an aggregate amount of premium worth Tk 973.12 million from eligible and general investors offloading above 2.75 million shares of ten taka each.The company is going to receive such amount of premium offering only 0.91...

Pharma stocks shine amid rising Covid-19 cases

Prices of some disinfectants and chemical stocks are soaring as investors are anticipating brisk business amid rising coronavirus cases in Bangladesh.Shares of Central Pharma, ACI Formulations and ACI Ltd have witnessed their price surge in the last three sessions amid...

COVID-19: Women front and centre

One thing is clear about the COVID-19 pandemic, as stock markets tumble, schools and universities close, people stockpile supplies and home becomes a different and crowded space: this is not just a health issue. It is a profound shock to...

‘War on air pollution’ -- A call to action

Air pollution is one of growing environmental hazards in Bangladesh. As such the country has now been grappling with air pollution. Exposed to various diseases and financial losses caused by air pollution, the citizens, especially in major cities, continue to...

'Your order has been cancelled': The Coronavirus impact on the RMG sector

The economic impacts of the COVID-19 pandemic is now being witnessed at all levels and the irrevocable financial damage, which may be considered secondary to matters of health and safety, in the near future may prove just as detrimental. The...

Contacting IEDCR, DGHS proves frustrating

If the honchos of the health department of the country are to be believed, information on covid-19 is just a fingertip away. Anyone willing to know anything about coronavirus infection or its symptoms is supposed to press the buttons of...