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BB to address customers' hassles

Siddique Islam | 2019-10-25 00:00:00

The Bangladesh Bank has sought explanation from 49 banks for the alleged harassment of their customers in opening fresh accounts, officials said.The Bangladesh Financial Intelligence Unit has been informed that banks harass customers in the name of KYC (know your...

Work on Bangabandhu rail bridge likely to start in Dec

MUNIMA SULTANA | 2019-10-25 00:00:00

The construction work of Bangabandhu Sheikh Mujib Railway Bridge over the Jamuna River is expected to start in December this year with a significant rise in overall project cost, sources said.Bangladesh Railway (BR) has almost finalised the selection of two...

Regulator shouldn't overreact

Shamsul Huq Zahid | 2019-10-25 00:00:00

The dispute between the country's two leading telecom operators---the Grameenphone and the Robi--- and the sector regulator over unpaid 'audit-claims' has lately turned nastier. The government in an unprecedented move decided to appoint administrators for both the telecom companies when...

FDI inflow surges but still below 7FYP projection

Asjadul Kibria | 2019-10-25 00:00:00

The country has long been trying to attract incremental foreign direct investment (FDI). A number of policy measures are there to facilitate foreign investment. The government has also taken some reform measures. The jump in FDI in the past fiscal...

Uncovering the underground economy

Helal Uddin Ahmed | 2019-10-24 12:00:00

Black money has been dominating the economies of South Asia for quite a long time. Its principal sources are drug trafficking, smuggling, gambling, prostitution and corruption. Higher levels of corruption are often associated with large underground or black economies.The size...

Brokers seek Tk 100b lifeline

MOHAMMAD MUFAZZAL | 2019-10-24 00:00:00

Stock brokers are seeking a Tk 100 billion fund from the government to inject new life into the moribund capital market.The intermediaries said they are set to submit their proposal to the finance minister today (Thursday) seeking the fund as...

Net use cost escalation feared

DOULOT AKTER MALA | 2019-10-24 00:00:00

The cost of internet services at the consumer end might go up by 40 per cent unless the government reduces VAT on its value-chain services, industry insiders said.They said the overall cost has gone up by 36 per cent as...

Business planning contest cheers up youths

MD NAIMUL ISLAM | 2019-10-24 00:00:00

Bangladesh Agricultural University Career Club (BAUCC) organised the grand finale of the most auspicious event of their calendar 'TrailBlazer 2.0' on October 20, 2019. TrailBlazer is an intra-university business planning competition which has become an awaited event in the BAU...

Battle of the best debaters in the country

Salwa Rafi | 2019-10-24 00:00:00

Bangladeshi debaters have been breaking records on national and international platforms with the power of rhetoric and phenomenal performance in front of the podium. In accordance with that, top debaters of Bangladesh have contested against each other to grab the...

Locking China out of the dollar system

Paola Subacchi in London | 2019-10-24 00:00:00

The recently announced "phase one" agreement between the United States and China has been touted as an important step toward a comprehensive deal that ends the trade war that has raged for over a year. But if you think that...

Financing sustainable development: The role of development banks

Jomo Kwame Sundaram in Kuala Lumpur and Anis Chowdhury in Sydney | 2019-10-24 00:00:00

Public or state development banking will be vital to achieving the Sustainable Development Goals, argues UNCTAD's Trade and Development Report 2019 (TDR 2019).Ongoing World Bank-led efforts seek to leverage private finance via shadow banking by using public money to guarantee...

Trading with India: Non-tariff barriers, anti-dumping charges

Hasnat Abdul Hye | 2019-10-24 00:00:00

India is among the most protectionist countries in the world, said the US Secretary of Commerce Wilbur Ross while visiting New Delhi recently. Though not a revelation, his comment must have ruffled the feathers of the mandarins in South Bloc...

Hefajat stages demo in city over Bhola incident

Judicial probe demanded | 2019-10-23 00:00:00

As part of its countrywide programme, Hefajat-e-Islam staged a demonstration in front of Baitul Mukarram National Mosque on Tuesday protesting the killing of four people in Sunday's violence in Bhola's Borhanuddin upazila following a blasphemous Facebook post from a hacked...

Move to install NEIR system

ISMAIL HOSSAIN | 2019-10-23 00:00:00

Mobile phone users can register or deregister their devices online under the National Equipment Identity Register (NEIR) system once the mechanism is set up. "Individuals can be allowed to register their own devices they basically buy from abroad and intend...

BR mulls over fare hike on ADB pressure

MUNIMA SULTANA | 2019-10-23 00:00:00

Bangladesh Railway (BR) is planning to raise fares for both passenger and freight trains to meet a requirement of the Asian Development Bank (ADB) as part of the railway reform programme.The last time the BR revised its fares was three...

ICB moots unit fund to support stock market

MOHAMMAD MUFAZZAL | 2019-10-23 00:00:00

The Investment Corporation of Bangladesh (ICB) has made a move to float another open-ended mutual fund to support the country's stressed capital market.The initiative is part of its continuous market supportive measures.The state entity has recently submitted a proposal, among...

Phenomenal rise in industrial sector NPL

SIDDIQUE ISLAM | 2019-10-23 00:00:00

The volume of classified loans, belonging to the industrial sector, jumped by more than 48 per cent in the fiscal year (FY) 2018-19. The main reason for a big leap was attributed mainly to the addition of certain volume of...

Exports to Turkey see sharp fall in five years

Rezaul Karim | 2019-10-23 00:00:00

A sustained fall in exports of Bangladeshi products to Turkey has prompted the government to dig out the causes of the sharp decline, officials said.To this end, the Bangladesh embassy in Ankara has approached a research firm named 'SIGMA' to...

Govt in final stage to issue first SME policy

TALHA BIN HABIB | 2019-10-23 00:00:00

The government is in the final stage to issue the country's first SME policy with some key provisions including establishment of an incubation centre to develop entrepreneurs, officials said. It also includes arranging collateral free loans at single-digit interest rates...

Infrastructure projects: Delivering on time and within budgetary allocations

Kamal Uddin Ahmed | 2019-10-23 00:00:00

Reliable, advanced and efficient infrastructure is indispensable for every nation. Better infrastructure drives economic growth, facilitates trade and commerce, considerably lowers the cost of production and transportation, enables improved incorporation of the national economy into the world order and advances...

Govt looks for causes of small share in global mkt

SYFUL ISLAM | 2019-10-22 00:00:00

The government is searching for causes behind a slow progress in grabbing the global market of high-end apparel products despite Bangladesh being the second-largest garment exporter, officials have said.Stakeholders say around 5.0 per cent of total Bangladeshi apparel exports contains...

Road crashes, fatalities surge in three years

MUNIMA SULTANA | 2019-10-22 00:00:00

There has been witnessed an upward trend in road accidents and fatalities in the past three years, since when the country has been observing the Road Safety Day.Like the two previous years, the day will be observed in the country...

Explaining lacklustre economic growth

Abdullah A Dewan | 2019-10-22 00:00:00

This is a continuation of my article "Demystifying why US economic growth is lacklustre" (FE October 15, 2019). I argued that for much of the 1980s and 1990s the US economy grew at 3.0 per cent or more when unemployment...

High cost of treatment abroad

Shamsul Huq Zahid | 2019-10-21 12:00:00

'Around US$4.0 billion flies out of the country as medical expenses annually' screamed the headline of a report published in one of the Bengali contemporaries late last week. Half of the amount goes to neighbouring India. Converted into Bangladesh currency,...

Govt targets big cut in port lead time

DOULOT AKTER MALA FROM HABIGANJ | 2019-10-21 00:00:00

The government has set a target to cut the time for completing import and export procedures to two days and one day respectively by 2022 under the National Single Window (NSW) project.Currently, it takes eight days for clearing the imported...

Hason Raja’s ancestral home needs care for historical interest

IQBAL SIDDIQUEE | 2019-10-21 00:00:00

SYLHET, Oct 20: Great mystic poet Hason Raja has a lot many popular songs. 'Loke bole bolery, ghar bari bala nay amar, ki ghor banaimu ami shunneri majhar', 'agey Jodi janto Hason, bachbo koto din, banaito ghor bari koria rongin'...

Canada goes to the polls today: A day of reckoning for Trudeau

Maswood Alam Khan | 2019-10-21 00:00:00

On both sides of the Atlantic, populist and nationalist sentiments appear to be growing. Rising anti-establishment fervour emerging around the world has left voters in most of the countries puzzled as to who to vote for. With liberal democracy on...

Commercial production of Sonali bags

Neil Ray | 2019-10-21 00:00:00

The pilot project under which 100,000 jute poly bags will be manufactured is nearing the end of its gestation period. It comes to an end on October 31, and the target of the project is reportedly going to be achieved....

Preventing digital feudalism

Mariana Mazzucato in London | 2019-10-21 00:00:00

The use and abuse of data by Facebook and other tech companies are finally garnering the official attention they deserve. With personal data becoming the world's most valuable commodity, will users be the platform economy's masters or its slaves?Prospects for...

BKB mulls Tk 100b special credit scheme from next year

REZAUL KARIM | 2019-10-20 00:00:00

Bangladesh Krishi Bank (BKB) is planning to undertake next year a Tk 100 billion credit programme for the small and marginal farmers as well as small rural entrepreneurs. If everything goes well, the long-term credit scheme is expected to start...