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Mobile kingpins, regulator among big VAT defaulters

Doulot Akter Mala | 2017-06-19 00:00:00

Government's revenue authority served show-cause notices on nine large taxpayers, including Bangladesh Telecommunication Regulatory Commission (BTRC) and four mobile kingpins, for non-payment of VAT worth Tk 4.12 billion. The mobile-phone companies are Robi Axiata, Grameen Phone Ltd, City Cell (Pacific...

In need of a policy on gold trading

Syed Jamaluddin | 2017-06-19 00:00:00

It has been reported in the media recently that there is a stock of 100 tons of illegally procured gold with 11 top businessmen in the country. The value of this gold is about Tk 450 billion. Intelligence agencies are...

Africa\'s race against the machines

Brahima Coulibaly in Washington, DC | 2017-06-19 00:00:00

By some estimates, automation threatens over half of all jobs in Organisation for Economic Cooperation and Development (OECD) countries. And now that the employment challenge is coming into focus, the scramble for solutions has begun. For example, Bill Gates has...

Facilitating growth of large-scale commercial farming

Shamsul Alam | 2017-06-19 00:00:00

Bangladesh is prone to natural hazards but is not a protracted crisis-ridden country like Sudan, Afghanistan, Fiji and Zimbabwe. The annual gross domestic growth (GDP) rate has been growing 6+ per cent over about last one decade. Last year's GDP...

Victimising the innocent

Neil Ray | 2017-06-19 00:00:00

A sub-inspector (SI) of the police was closed to the Jessore Police Lines on Thursday. On the face of it, his offence does not look grave particularly when people have become habituated to such nauseating aberrations on the part of...

Stock market: No silver lining on the horizon

Shamsul Huq Zahid | 2017-06-19 00:00:00

Finance Minister AMA Muhith in his budget speech, delivered on June 01 last, made more or less a 'mechanical' reference to the country's stock market. In fact, he did not say anything that deserves to be termed pro-market. Nor did...

Financing FY 18 Budget—a big challenge

Md. Matiul Islam | 2017-06-19 00:00:00

The spontaneous outbursts of criticism and condemnation of the tax proposals in the budget by all and sundry no sooner the finance minister read it out in parliament made me recollect the famous saying of Benjamin Franklin: "Only two things...

Britain\'s Norway solution

Anatole Kaletsky in London raises the question | 2017-06-18 00:00:00

Shortly after UK Prime Minister Theresa May's decision to call an unexpected "Brexit election," I wrote that pro-Europeans in Britain might yet snatch victory from the jaws of defeat. But the timescale I had in mind was five years, not...

ICC Championship: Bangladesh stamps its authority

M. Serajul Islam | 2017-06-18 00:00:00

The ICC Championship final will be played today (Sunday) between two traditional rivals both in cricket field and outside, India and Pakistan. India is predicted to be the likely winner but with Pakistan as the most unpredictable team in the...

Budget 2017-18: A critical view

M. A. Taslim | 2017-06-18 00:00:00

The Finance Minister (FM) Mr. A M A Muhith presented the next fiscal year's budget to the parliament on June 01, 2017. He claimed it to be the biggest and the best of all the budgets he has presented so...

Muhith against incentives to woo disgruntled remitters

Syful Islam | 2017-06-17 00:00:00

The government disapproves of a proposal for providing incentives to migrant workers to encourage them to send money through official channel instead of illegal ways, officials said. Recently, the ministry of finance (MoF) had placed the proposal before Finance Minister...

City Eid shopping pacing up

Arafat Ara and Mohammed Wazed Ali | 2017-06-17 00:00:00

Eid sales are going on in full swing as different city shopping malls and markets are witnessing a big rush of shoppers ahead of Eid-ul-Fitr. On Friday, traders in different shopping malls in New Market, Chandni Chowk, Elephant Road and...

Stocks snap 3-week winning streak

Babul Barman | 2017-06-17 00:00:00

Stocks slipped into the red last week that ended Thursday, snapping a three-week winning streak as some investors sold shares ahead of upcoming Eid festival. Analysts said the market faced mild correction as investors preferred to book quick-gain on their...

Courier services cash in on online market boom

Ismail Hossain | 2017-06-17 00:00:00

The country's courier services are cashing in on online shopping ahead of Eid-ul-Fitr as most of the smaller size online markets do not have their own. The customers also prefer buying desired dresses and gift items staying at home and...

ICC Championship with many a surprise

Nilratan Halder | 2017-06-17 00:00:00

At the start of the International Cricket Council (ICC) Championship, the odds were against teams like Bangladesh and Sri Lanka for understandable reasons. Pakistan, as usual, were unpredictable but the general consensus was that they were hardly going to make...

Re-connecting with Nature

Baher Kamal in Rome | 2017-06-17 00:00:00

Now that president Donald Trump has announced the withdrawal of the world's largest polluter in history-the United States, from the Paris Accord, perhaps one of the most specific warnings is what a United Nations independent expert on rights and the...

Climate change consequences read like a dystopian novel

Shaila Mahmud | 2017-06-17 00:00:00

People in Somalia face famine conditions, triggered by prolong drought. About 30 million people in East African countries are on the brink of an alarming level of food insecurity. Researchers have observed an increase in salinity intrusion in Bangladesh by...

Dhaka remains unprepared for disasters

Nabil Azam Dewan | 2017-06-17 00:00:00

It seems that Dhaka's two city corporations would remain unprepared if a natural or man-made disaster strikes Bangladesh's densely-populated capital since Dhaka South City Corporation (DSCC) failed to create a single Disaster Management Committee (DMC) for any of its 57...

A magic wand for France?

Anders Åslund in Washington, DC | 2017-06-17 00:00:00

Last month, Emmanuel Macron pulled the proverbial rabbit from the electoral hat. Against the odds, the independent centrist won the French presidency by a decisive margin, beating the far-right populist Marine Le Pen - and vanquishing the old guard of...

Remittances: Domestic versus foreign migration

Abdul Bayes | 2017-06-17 00:00:00

The role of remittances in Bangladesh's growth and development needs no emphasis. Direct and indirect impact of foreign as well as local remittances on reduction of poverty is amply documented in the available literature arguing that poverty would have increased...

NBR freezes bank accounts of two ICB subsidiaries

Doulot Akter Mala | 2017-06-16 00:00:00

The income tax authority attached bank accounts of two subsidiaries of Investment Corporation of Bangladesh (ICB) Thursday for non-payment of tax worth Tk 1.30 billion for long. ICB Capital Management Limited (ICML) and ICB Securities Trading Company Limited (ISTCL) will...

Remittance slowdown: BB prods banks on improving services

Siddique Islam | 2017-06-16 00:00:00

The central bank has asked the commercial banks to take measures for improving the quality of remittance services so that the Non-Resident Bangladeshis (NRBs) send their hard-earned money home through formal channel. The banks have been instructed to open a...

Dhaka WASA: Deaf, dumb and blind

Shamsul Huq Zahid | 2017-06-16 00:00:00

To facilitate construction of the Tejgaon-Bijoysarani, the military-backed caretaker government acquired 3.4 acres land paying compensation to the owners beside demolishing the Rangs tower in 2007. The incumbent government demolished many residential houses, both pucca and kutcha, and even a...

Disasters man invites at his own peril

Nilratan Halder | 2017-06-16 00:00:00

Landslides triggered by heavy rains and wind in the hilly districts have taken a heavy toll of life and property. There were families which lost their young ones. How tragic it was for a mother to have lost all three...

Political causes of Islamic extremism

Imtiaz A. Hussain in the second of a six-part series assessing the origins, on-goings, and outcomes of Islamic extremism | 2017-06-16 00:00:00

Loading policy-making analysis with historical events often takes the 'baby' being cleansed (Islamic extremism) out with the dirty bathwater (faulty policies, first by befriending dictators, then by prioritising bombings and killings to eliminate terrorists). For example, the 1916 Sykes-Picot boundaries,...

Selecting the right career

Naimul Kader | 2017-06-15 00:00:00

Only after getting certificate of academic qualifications, most students usually think of their career. This is a big concern of a person's life as it allows the person to set up the entire life around that career.  But by the...

Around 172,000 BINs on hold

Doulot Akter Mala | 2017-06-15 00:00:00

Dhaka South VAT Commissionerate has blocked the Business Identification Numbers (BINs) of the enterprises those failed to file VAT returns. Officials said the VAT authorities recently blocked around 172,000 BINs, also termed as VAT registration numbers, of the businesses those...

Import spending rises by $4.0b in 10 months

Siddique Islam | 2017-06-15 00:00:00

Country's overall import expenditure increased by nearly 12 per cent or around US$ 4.0 billion in the first 10 months of this fiscal year (FY). According to official data, higher import of capital machinery mainly pushed up the import spending....

Africa\'s stake in Brexit

Carlos Lopes in Oxford | 2017-06-15 00:00:00

As Britain focuses on what its relationship with the European Union (EU) might look like once it leaves the bloc, sometime during 2019, the rest of the world is already girding for the post-Brexit era. For many African countries in...

US pullout from Paris Climate deal affects Bangladesh

Sarwar Md. Saifullah Khaled | 2017-06-15 00:00:00

Recently, US President Donald Trump declared that his country would pullout from the Paris Agreement under the UN Framework Convention on Climate Change after striking a major blow to international efforts in combating global warming while distancing United States from...