Rewiring economy through NSEZ

As Bangladesh charts its path toward upper-middle-income status by 2031, few projects encapsulate the country's ambitions more than the National Special Economic Zone (NSEZ) in Mirsarai. Envisioned as a transformative industrial corridor on the country's southern coastline, the NSEZ is...

When AI is not only a liar but also deceptive, intriguing and intimidating

It is not unlikely that a creator is overwhelmed by the created, a master is outperformed by his disciple and the patron is betrayed by his protégée. This is such an unreliable and unpredictable age when even a son can...

Taskforce proposes 'oversight body' to shield market from influence of lobbyists

The taskforce of the country's capital market has recommended forming a seven-member oversight body to ensure accountability of the securities regulator and to keep the finance ministry from unnecessarily interfering in regulatory affairs. The oversight body may consist of the...

Steady new business reg reflects resilience amid political shifts

Despite political uncertainty and economic headwinds, Bangladesh saw a relatively steady trend in new business registrations in the just-ended fiscal year (FY 2024-25), suggesting a quiet but persistent confidence among entrepreneurs across sectors.A total of 10,225 new firms and entities...

OBUs allowed using FCDs as loan security

To facilitate foreign investment in the country, the Bangladesh Bank has allowed offshore banking units (OBUs) to use foreign-currency deposits (FCDs) by non-resident accountholders as collateral against lending.Under a relaxed regulation, foreign companies are eligible to avail local currency, Bangladesh...

A mix of memory and fiction

No one can avoid diving into the sea of memory, which is a matter of both joy and sorrow. Again, not everyone can recall the past precisely. Those who have strong feelings of both pleasure and sadness when thinking about...

When low-income people skip meal

The findings of a survey conducted by the Youth Network Policy (YNP) are highly concerning and should have triggered matching socio-political reactions. But nothing of this order happened. The survey titled "Food Security and VAT for Marginalised Communities" made some...

DMP proposes spl bus route from Gazipur

The government has decided not to introduce any new bus route in the capital but wants to launch a special one from Gazipur under police arrangements. The special route, proposed by the Dhaka Metropolitan Police (DMP), will start from Gazipur...

14-Day T-bill auctions resume after 18 months

The auction of 14-day Treasury Bills (T-bills) resumed on Wednesday after nearly one and a half years, aiming to partially address the government's budget deficit."The government prefers short-term rather than long-term borrowing from the banking system to manage its funds...

Mango processing still a missed opportunity

Astha is a department store near the Chapainawabganj New Market, but it offers no value-added mango products made by local entrepreneurs. Neither does T Mart, another such store at the Belepukur intersection. Even in food shops at the New Market,...

Citizens Bank eyes CMSME growth, financial inclusion and digital transformation

Citizens Bank PLC, the country's newest private commercial bank (PCB), plans to offer a range of loan and deposit products aimed at bringing more unbanked people into the banking network while ensuring full compliance with regulatory requirements, said Chowdhury Mohammed...

IDRA to investigate 17 general insurers in disciplinary crackdown

Seventeen non-life insurance companies will also undergo special audits as the regulator has identified them as high-risk after a similar measure taken for poorly-regulated life insurance companies. The Insurance Development and Regulatory Authority (IDRA) has already appointed auditors to 15...

Imperative of revitalising logistics sector

At a recent seminar hosted by the Dhaka Chamber of Commerce and Industry (DCCI), experts and business leaders highlighted how Bangladesh's outdated logistics system is undermining the country's global competitiveness, hampering export growth and overall economic momentum. As the country...

Nobel for Peace: the deserving and the undeserving

Let's begin with a truth, harsh though it may sound. Of late, in fact in the past many years, a considerable degree of controversy has come to be associated with the selection process relating to the probable winners of the...

ERL sets new record in FY25

CHATTOGRAM, July 01: Eastern Refinery Limited (ERL), the country's only state-owned oil refinery, has established a new record in crude oil refining, as it has processed a total of 1.535 million tonne crude oil in the fiscal year 2024-25 surpassing...

Ctg Port handles record 3.29m containers in FY25

CHATTOGRAM, July 1: Chattogram Port, the country's premier seaport, handled a total of 3.29 million TEUs (twenty-foot equivalent units) of containers in the fiscal year 2024-25, marking an increase of 0.13 million TEUs compared to the previous year.In FY2023-24, the...

Govt working on Ukraine's stolen grain claim

The interim government is working on resolving the "stolen grain" issue raised by Ukraine, sources said.In this regard, the foreign affairs ministry has requested state agencies, including food, commerce, and shipping ministries; National Board of Revenue (NBR); and Chittagong Port...

Revenue collection faces record shortfall in FY25 as Petrobangla arrears mount

The National Board of Revenue (NBR) is heading towards a record tax shortfall of around Tk 1.0 trillion in the outgoing fiscal year (FY 2024-25), despite efforts to recover long-standing arrears from state-owned enterprises like Petrobangla.Until 29 June, the NBR...

Brokers seek deadline push for tamper-proof software rollout

The DSE Brokers Association (DBA) seeks two more months to ensure the installation of tamper-proof back-office software by all brokers -- a mechanism deemed crucial to prevent digital fraud meant to embezzle investors' money. The deadline after the third-time extension...

Untapped potential of mango

Our very familiar and favourite summer fruit, mango, has been put in a new light by highlighting its health benefits in recent media reports. People of this part of the world have been cultivating this fruit for at least 4,000...

Further disarray likely as 21 new city routes approved

Dhaka's chaotic bus system is likely to worsen as a newly-formed committee, comprising mostly police officials and transport owners, has approved 21 fresh routes for both new and old companies to operate their fleet.The move would severely damage the scope...

World Bank to slash $70.54m from PRIDE Project loan

The World Bank is set to cut $70.54 million from its $500 million loan commitment to the Private Investment and Digital Entrepreneurship (PRIDE) Project, now undergoing restructuring with a proposed two-year extension.The move follows 4.5 years of sluggish implementation, during...

Govt borrows Tk 117.94bn thru T-bills in single day

The government on Sunday borrowed Tk 117.94 billion in a single day by issuing three types of treasury bills to partly finance its budget deficit.The amount borrowed is well above the pre-auction target of Tk 80 billion, according to the...

Insurance regulator eyes CEO removal powers under new rules

The insurance regulator proposes changing regulations to empower itself to remove chief executive officers from insurance companies for the abuse of power and corruption. If the recommended reforms to the regulations for the appointment to and removal of CEOs from...

Looming threat from militants active abroad

The news that as many as 36 Bangladeshi migrants in Malaysia have been arrested for their involvement in militancy is unsettling to say the least. They were active in introducing Islamic State (IS)-inspired ideology in the host country and formed...

Focusing on export of agro-based products

Having the requisite amount of foreign currency to meet import bills as well as external debt obligations is a constant challenge being faced by Bangladesh economy. Aside from export of manpower and service, commodity export is the standard affair to...

NBR reform imbroglio disrupts trade delivery, revenue collection

Entire revenue administration of Bangladesh faces an unprecedented disruption amid agitating-staff-government standoff over reform disagreements, threatening to upend the country's macroeconomic rebound process.Finance officials, economists and businesses worry about immediate and long-term consequences of the deadlock as the two sides...

Economic cost of uncertainty

The International Monetary Fund's (IMF) approval of a US$1.3 billion disbursement of the third and fourth tranches of Bangladesh's $4.7 billion loan programme may help improve donors' sentiment and more foreign funds may be released in the coming months. But...

What drives BD money into Swiss banks?

The news that Bangladesh-linked money in Swiss banks increased by around 23 per cent last year has drawn attention of various quarters in the country. The significant rise in deposits has triggered widespread discussions, because of the fact that the...

Investment must for growth

The economy of Bangladesh is not doing well. In fact, it has not been doing well since the second quarter of 2023-24 as should be evident from the chart-1. At this low rate of growth unemployment could have risen and...