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Loopholes expose national savings schemes to abuse

Doulot Akter Mala and Siddique Islam | 2016-06-26 00:00:00

The National Savings Directorate (NSD) has recently sent a proposal to the Internal Resources Division (IRD) of the Ministry of Finance to lift the limit on investment in pensioners' savings scheme meant for government employees.   Substantial increase in retirement benefits...

When globalisation goes digital

Martin Neil Baily and James Manyika in Washington DC | 2016-06-26 00:00:00

American voters are angry. But while the ill effects of globalization top their list of grievances, nobody is well served when complex economic issues are reduced to bumper-sticker slogans - as they have been thus far in the presidential campaign....

ScholarTroop vows to create \'indelible impact\' on corporate world

Special Correspondent | 2016-06-26 00:00:00

US-based Global Entrepreneurship Summit (GES) has invited ScholarTroop to join Global Entrepreneurship Summit (GES) 2016 at Stanford University in Silicon Valley, California which is hosted by President Barack Obama.  ScholarTroop is a web-based scholarship matching and monitoring programme for meritorious...

The Brexit revolt

Harold James in London | 2016-06-26 00:00:00

With its vote to leave the European Union (EU), the United Kingdom has staged a revolt so forceful that it will shake - and potentially even destroy - the European project. Indeed, as the UK pursues its extraordinary experiment in...

Stocks keep sliding for third week

Babul Barman | 2016-06-25 00:00:00

Stocks extended their losing spell for the third week in a row that ended Thursday, as most of the investors continued their selling mood ahead of 9-day Eid festival and June-closing. Brokers said the majority number of investors kept themselves...

Do Ramadan prices suit every pocket ?

Sarwar Md Saifullah Khaled | 2016-06-25 00:00:00

Every year the holy month of Ramadan faces price hike of almost all commodities including the daily necessities even if the supply conditions are satisfactory. It has become a common practice of the country's business people to devour profit in...

Muhammad Ali, the boxing legend

Iftu Ahmed from Aurora, IL, USA | 2016-06-25 00:00:00

Muhammad Ali was the first man in the boxing history who secured the magnificent heavyweight championship three times and was one of the greatest sporting icons of the 20th century. For years Ali had been suffering from Parkinson's disease and...

Of Puerto Rico governor/creditor debt dialogue

Roberto O González Nieves and Heriberto Martínez | 2016-06-25 00:00:00

Almost a year ago, our Governor publicly stated that Puerto Rico's debt had become unpayable. Already at that time, our island was experiencing self-imposed austerity conditions. More schools continued to close, healthcare budgets slashed, police were laid off and we...

Tribute to 2016 IDB Prize winner in Islamic banking and finance

Foyasal Khan | 2016-06-25 00:00:00

Professor M. Kabir Hassan of the University of New Orleans has won the IDB Prize in Islamic Banking and Finance for the year 2016 from the Islamic Development Bank (IDB), the development bank of the Muslim world. The IDB established...

India’s economy after Rajan

Gita Gopinath in New Delhi | 2016-06-25 00:00:00

Raghuram Rajan's decision not to seek a second term as Governor of the Reserve Bank of India (RBI, India's central bank) was met with shock from those of us who have been cheering on the Indian economy. While it is...

From radicalism to soap operas

Lamia Mohsin | 2016-06-25 00:00:00

Our interpretations and perspectives of 'normal' or 'common sense' as we define it, are invariably influenced and (in a more appropriate sense) to some extent 'manipulated' by existing predominant cultures and social practices. A student of sociology might beg to...

BB to show $81m heist fund in balance-sheet as other assets

Siddique Islam | 2016-06-24 00:00:00

The Bangladesh Bank (BB) is going to follow recommendations of the International Monetary Fund (IMF) regarding its stolen fund, and will show the fund in other assets as protested bill in its balance-sheet. The central bank will also examine another...

BIWTC drops pilot project on e-ticketing at ferry terminals

Munima Sultana | 2016-06-24 00:00:00

The electronic ticketing system in ferry ghats of the Bangladesh Inland Water Transport Corporation (BIWTC) has failed to click due to technical problems and non-cooperation of operators. Sources said, due to these, the Corporation has cancelled the pilot project on...

Exploring trade potential in Latin America

Md Altap Hossen | 2016-06-24 00:00:00

Latin America comprises 20 sovereign states including several territories and dependencies. It has an area of roughly 19,197,000 square km which constitutes nearly 13 per cent of the earth's land surface area. The total population of Latin American countries is...

On proposed 2016-17 national budget

Abdul Bayes | 2016-06-24 00:00:00

Finance Minister AMA Muhith, MP recently presented the National Budget 2016-17 in Parliament. We shall pick up some selected items from his budget speech and try to examine them in the light of the ground realities we are to reckon...

Ceramics: Growth\'s linkage industry

Imtiaz A. Hussain in the seventh article of a nine-part "Second-string sector survey" series | 2016-06-24 00:00:00

Supplying some of the key ingredients of house-building (tiles, sinks, sanitary wares, and cutlery), the ceramic industry's growth parallels that of the real-estate revolution and home construction. Though it relies on clay (found particularly in Mymensingh, Netrakona, and Sylhet), since...

FBCCI places fresh budget proposals

Doulot Akter Mala | 2016-06-23 00:00:00

Country's apex chamber placed fresh fiscal proposals on the proposed new budget with major demands like raise in the tax ceiling for individuals and cuts in taxes at source and corporate tax for exporters. The Federation of Bangladesh Chambers of...

‘Joy of Giving’ resonates among youths

Jamil Azhar Shakil | 2016-06-23 00:00:00

To help the deprived people during Ramadan, two years back in 2013 Obhizatrik Foundation initiated the project 'Joy of Giving'. The project helps deprived people by arranging iftar for them daily during the Ramadan. This time they have expanded their...

The return of Ad Maker

Shahrin Ali | 2016-06-23 00:00:00

Ad Maker Bangladesh, the biggest annual inter university marketing competition in Bangladesh organised by North South University Young Entrepreneurs Society (NSU YES), came back with a bang this year. A whopping 305 teams participated from 56 various universities from all...

Move to construct 218-km Dhaka-Ctg expressway

Munima Sultana | 2016-06-23 00:00:00

The Roads and Highways Department (RHD) has taken a move to call tender for construction of the Dhaka-Chittagong expressway soon proposing 30 per cent vulnerable gap of funding (VGF). RHD officials said the project office has already placed a plan...

Foreign beauty products lead as Eid shopping reaches high gear

Mohammad Wazed Ali | 2016-06-23 00:00:00

Sales of beauty and grooming products have spiked significantly as the Eid-ul-Fitr approaches, according to city market operators. They, however, said Indian, Thai and British cosmetics are sapping the demand for home-made items significantly in the Dhaka market. Akash Rahman,...

Tamim ton takes Abahani on top

Doleshwar register win against Rupganj | 2016-06-23 00:00:00

Abahani registered a massive 115-run victory over Prime Bank Cricket Club with a captain's knock of 124 by Tamim Iqbal in the super-six 5th round match of the Dhaka Premier Division Cricket League at Sher-e-Bangla National Cricket Stadium on Wednesday,...

Tools and desire NBR needs most

Shamsul Huq Zahid | 2016-06-22 00:00:00

The National Board of Revenue (NBR) has been an easy object of criticism for its failure to rope in even a mention-worthy fraction of potential taxpayers. Experts apart, government policymakers are also found to be deeply frustrated by the taxmen's...

Axe hangs over tax at source for exporters

Doulot Akter Mala | 2016-06-22 00:00:00

The government is now set to reduce the proposed tax at source for export-oriented industries for fiscal year 2016-17 following request from the stakeholders and exporters. The tax at source on export bill has been proposed to increase to 1.5...

BASIC Bank seeks to raise its authorised capital

Rezaul Karim | 2016-06-22 00:00:00

Scam-hit BASIC Bank has sought approval from the finance ministry for increasing its authorised capital to Tk 55 billion from existing Tk 25 billion, officials said. Khondoker Md Iqbal, managing director of the bank, in a letter sent to the...

Farm credit disbursement set to beat target this fiscal

Siddique Islam | 2016-06-22 00:00:00

The target of farm credit disbursement is expected to be crossed by the end of the current fiscal year (FY) as the central bank has beefed up efforts to make such credit available for farmers, officials said. The expectation came...

Govt moves to expedite PPP implementation

Rezaul Karim | 2016-06-22 00:00:00

The government has taken necessary strategies to expedite the move towards implementation of public-private partnership (PPP) projects, although the initiative hangs in the balance since its inception, sources said. The PPP initiative has been limited to discussion only. In fact,...

Ongoing Syrian crisis and the UN

Istiak Uddoula | 2016-06-22 00:00:00

The Syrian Civil War began in 2011 amongst multiple opposition factions -- basically anti-government groups and the government. Since 2014, a terrorist entity, named Islamic State of Iraq and the Levant claimed a significant part of Syria. In September 2015,...

Eid shopping at its peak

Syed Jamaluddin | 2016-06-22 00:00:00

Economic activities, particularly shopping, are going on in full swing in the middle of Ramadan. Money supply is increasing in the economy. Eid- ul Fitr is the biggest religious festival for the Muslims. Bonus of government officials, employees of shops,...

Questioning official statistics: Strengthening Bureau of Statistics

Asjadul Kibria | 2016-06-22 00:00:00

Questioning official statistics is a standard practice, especially for research and analysis. It doesn't mean that questions are intended to undermine national attainments. Unfortunately, it has become increasingly difficult in Bangladesh to raise such questions. Policymakers in general are usually...