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Trade deficit widens 46 per cent, current account in red

Asjadul Kibria | 2017-08-17 00:00:00

Bangladesh's merchandise trade deficit with the rest of the world widened 46.62 per cent in the past fiscal, leaving its current-account balance in the red. Bangladesh Bank released Wednesday an update on the country's balance of payments (BoP) which revealed...

IRD move to audit maximum 25,000 income tax files to detect evasion

Doulot Akter Mala | 2017-08-17 00:00:00

The Internal Resources Division (IRD) has issued a directive to audit maximum 25,000 income tax files of both individuals and corporate taxpayers to detect tax evasion and concealment of actual income, officials said. The income tax authority has received the...

EBL: a story of rip-roaring successes

Special Correspondent | 2017-08-17 00:00:00

Eastern Bank Ltd (EBL) will spread its network across the regional countries to showcase Bangladesh's growing corporate strength. "We will open full-fledged branches in India (Kolkata and Guwahati), representative offices in China in coming months," Ali Reza Iftekhar, managing director...

Brexit — Britain\'s road to perdition

Anatole Kaletsky in London | 2017-08-17 00:00:00

Full English Brexit is off the menu. Before leaving the European Union (EU) altogether, the British government now wants an "interim period," in which the United Kingdom (UK) would retain the commercial rights of EU membership, while still contributing to...

GI protection: Branding is all

Asjadul Kibria | 2017-08-17 00:00:00

Bangladesh has received Geographical Indication (GI) tag for Hilsa fish with effect from August 01, 2017. It is the second GI product of the country after Jamdani saree. Some equate the GI tagging to Jamdani and Hilsa with the exclusive...

Brexit — Britain's road to perdition

Anatole Kaletsky in London | 2017-08-17 00:00:00

Full English Brexit is off the menu. Before leaving the European Union (EU) altogether, the British government now wants an "interim period," in which the United Kingdom (UK) would retain the commercial rights of EU membership, while still contributing to...

GI protection: Branding is all

Asjadul Kibria | 2017-08-17 00:00:00

Bangladesh has received Geographical Indication (GI) tag for Hilsa fish with effect from August 01, 2017. It is the second GI product of the country after Jamdani saree. Some equate the GI tagging to Jamdani and Hilsa with the exclusive...

IRD move to audit maximum 25,000 income tax files to detect evasion

Doulot Akter Mala | 2017-08-17 00:00:00

The Internal Resources Division (IRD) has issued a directive to audit maximum 25,000 income tax files of both individuals and corporate taxpayers to detect tax evasion and concealment of actual income, officials said. The income tax authority has received the...

Trade deficit widens 46 per cent, current account in red

Asjadul Kibria | 2017-08-17 00:00:00

Bangladesh's merchandise trade deficit with the rest of the world widened 46.62 per cent in the past fiscal, leaving its current-account balance in the red.Bangladesh Bank released Wednesday an update on the country's balance of payments (BoP) which revealed such...

BBA finalises 39 km route involving $1.8b

Munima Sultana | 2017-08-16 00:00:00

Bangladesh Bridge Authority (BBA) has finalised the route of another elevated expressway on the eastern-western side of the city. Officials said consultants of East West Elevated Expressway (EWEE) project submitted their final report, proposing a 39 kilometres (kms) route connecting...

Taxmen pace up PCA, reconcile taxable imported, released goods

Doulot Akter Mala | 2017-08-16 00:00:00

The Customs have decided to enhance post-clearance audit (PCA) and reconcile imported and released goods as a strategy for achieving the revenue target for this fiscal. Officials said these two are part of a 14-point instruction meant for ramping up...

BB developing collateral database to stop forgery

Syful Islam | 2017-08-16 00:00:00

The central bank is developing a collateral information system incorporating data on immovable properties which are used for getting loans aiming to prevent document forgery, officials said. The Bangladesh Bank has taken the initiative as dishonest people nowadays increasingly use...

Three-fourth gen ins cos show positive earnings in H1

Babul Barman | 2017-08-16 00:00:00

Most of the listed general insurance companies have showed positive earnings performance in the first half (January-June) of 2017 compared to the same period in 2016. Consolidated earnings per share (EPS) of 26 companies out of the 35 listed general...

Move to increase gold trading licence fees

Rezaul Karim | 2017-08-16 00:00:00

The government has taken a move to raise gold trading licence fees by nearly 67 per cent following its sales boom in local markets in recent years, officials said. People familiar with the ministry concerned told the FE that fee...

A regulatory race to the bottom?

Alissa Amico in Dubai | 2017-08-16 00:00:00

Amid intense competition for the anticipated listing of Saudi Aramco - the world's largest oil company, owned by the Saudi state - stock exchanges and financial-market regulators are under pressure to provide incentives for the company to dual-list its shares...

Income inequalities rising alarmingly

Sarwar Md. Saifullah Khaled | 2017-08-16 00:00:00

Income inequalities in Bangladesh are rising alarmingly. A study report presented by the Bangladesh Bureau of Statistics (BBS) and a local non-governmental research organisation shows that differences of income between the people living in the capital and in outlying areas...

Conceptualising \"zero-waste city\" in the context of Bangladesh

Polin Kumar Saha | 2017-08-16 00:00:00

A consumption-driven society produces a large amount of waste. This massive amount of waste puts enormous pressures on management of city waste effectively. Waste management is a priority area in city governance. City waste management is crucial for sustainable development....

When water causes poverty

Abdul Bayes | 2017-08-16 00:00:00

The jeep with five passengers including this writer was rushing to reach a village in southern part of Bangladesh lying in an ecologically backward region. The village is called Madra under Tala upazila of Satkhira district, widely known to be...

Rules of business for SOEs are yet to be framed

Helal Uddin Ahmed | 2017-08-16 00:00:00

The state-owned enterprise sector of Bangladesh continues to play an important role in increasing national income, adding value, generating employment and collecting revenue income despite the government adhering to a long-running policy of private sector development and privatisation. The existing...

Three-fourth gen ins cos show positive earnings in H1

Babul Barman | 2017-08-16 00:00:00

Most of the listed general insurance companies have showed positive earnings performance in the first half (January-June) of 2017 compared to the same period in 2016.Consolidated earnings per share (EPS) of 26 companies out of the 35 listed general insurance...

Move to increase gold trading licence fees

Rezaul Karim | 2017-08-16 00:00:00

The government has taken a move to raise gold trading licence fees by nearly 67 per cent following its sales boom in local markets in recent years, officials said. People familiar with the ministry concerned told the FE that fee...

NBR to frame policy for inclusion, exclusion of cos under VAT LTU

Doulot Akter Mala | 2017-08-15 00:00:00

The National Board of Revenue (NBR) has decided to frame a policy to set new parameters for inclusion and exclusion of businesses under the Large Taxpayers Unit (LTU) of VAT wing. The parameter will be set on the basis of...

A patriot whose bravery remains sketched in sublimity

Syed Badrul Ahsan | 2017-08-15 00:00:00

When no one was willing to take the plunge, he knew what he needed to do. Col Jamiluddin Ahmed, who was posthumously promoted to Brigadier General and awarded the Bir Uttam in 2010, brought into play the old principle of...

The leader of our independence movement

Mir Mahboob Ali | 2017-08-15 00:00:00

No movement, agitation, enterprise or war, certainly not a revolution or struggle for independence-can reach its cherished goal without the guidance of an able and visionary leader. But sadly, there is still a quarter in the country which refuses to...

To pay debt to Bangabandhu

Maswood Alam Khan | 2017-08-15 00:00:00

We all know death is inevitable. Still, we don't want death to visit us anytime soon, even when we are frail and shrivelled with age at the fag-end of life. We never ready ourselves to pay our debt to nature....

BB starts impact study on offshore banking

Siddique Islam | 2017-08-14 00:00:00

Bangladesh Bank (BB) has started conducting a study on possible impact of the offshore banking unit (OBU) operations if such functions are brought under the Banking Companies Act (BAC), officials said. Under a latest move, the central bank has already...

Pakistan, the journey after independence

Malik Muhammad Ashraf | 2017-08-14 00:00:00

Pakistan will turn seventy on 14th of August this year ready to celebrate the day in a befitting manner. Nations celebrate their national and independence days to rejoice at their achievements and to renew pledges to keep marching on the...

Foreign investors becoming more optimistic about increasingly open Chinese market

Li Yan | 2017-08-14 00:00:00

Foreign investors are becoming more optimistic about the increasingly open Chinese market after acknowledging the stability and resilience of the country's economy. It is expected that in one or two years, China will attract more global investments. The Bank of...

In man-animal conflict there is no winner, ultimately

Neil Ray | 2017-08-14 00:00:00

If man-animal conflict cannot be avoided in vast stretches of Africa's savannas, it is only natural that the encounter would be more pronounced in land-scarce countries like Bangladesh. And so it has been proved by a study titled 'Status of...

Is food security under threat?

Shamsul Huq Zahid | 2017-08-14 00:00:00

'A stitch in time save nine', the age-old adage proved right again in the case of rice import by the Ministry of Food. Indifference and delayed action on the part of the ministry have made the food price situation complex....