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WB suggests introduction of auto fuel price adjustment

Syful Islam | 2016-03-23 00:00:00

The World Bank has suggested Bangladesh readjust domestic petroleum prices proportionate to the global rates-an option that entails deep cuts which the government has so long skirted.      Domestic consumer rights groups and businesses have long been demanding the lowering of...

Larger number of taxpayers going to get tax cards

Doulot Akter Mala | 2016-03-23 00:00:00

A larger number of taxpayers are going to get tax card as a status symbol under a changed policy that would encompass far more fields of contribution, officials said.     Under the move to award as more taxpayers as possible the...

Meeting ends sans finalising metro-rail yard spots

Munima Sultana | 2016-03-23 00:00:00

An inter-ministerial meeting concluded on Sunday without finalising the spots for setting up metro-rail construction yards, which is an important component to start construction of the mass rapid transit (MRT) system next year. The Ministry of Road Transport and Bridges...

Credibility of the banking system needs to be bolstered

M. Aminul Islam Akanda | 2016-03-23 00:00:00

The cyber heist in the reserve account of the Bangladesh Bank hit the headlines of electronic and print media. This was reported to be the first-ever stealing from any central bank account with the US Federal Reserve Bank. The hackers...

Plummeting deposit rates in banks to hit savings hard

Razibul Razon | 2016-03-23 00:00:00

Banks' deposits rate is falling. Depositors' return has been cut significantly compared to what it was one or two years back. Retired persons in particular are the worst victims of this. A few days back, this writer met his uncle...

BB seeks aid from AG to recoup stolen money

Siddique Islam | 2016-03-22 00:00:00

The Bangladesh Bank (BB) has sought mutual legal assistance (MLA) from the attorney general (AG) office to recover the recently stolen money, amounting to US$ 81 million, from the Philippines. Bangladesh Financial Intelligence Unit (BFIU) of the central bank has...

Keep present VAT pack until 2021

Doulot Akter Mala | 2016-03-22 00:00:00

Dhaka Chamber of Commerce and Industry (DCCI) proposed that the government keep the existing package Value Added Tax (VAT) until 2021 by upward revision of the amount. The package VAT system is scheduled to stand scrapped from July 1, 2016...

BBIN sits in Dhaka this month

Rezaul Karim | 2016-03-22 00:00:00

Four south Asian countries will sit in Dhaka at the end of March aiming to finalise the passenger protocol on the Motor Vehicles Agreement (MVA). Sources said joint secretary level officials of Bangladesh, Bhutan, India and Nepal (BBIN) will take...

BB formulates action plans to implement SDGs

Syful Islam | 2016-03-22 00:00:00

The central bank has formulated ten-year long action plans as part of government's efforts to implement sustainable development goals (SDGs) set by the United Nations (UN), officials have said. The sustainable finance department of the Bangladesh Bank (BB) has been...

US firm plans to pump $200m into BD

Mohammad Mufazzal | 2016-03-22 00:00:00

Fenox Venture Capital, a US-based venture capital firm located in Silicon Valley, has shown interest to invest some $200 million in potential sectors of Bangladesh through a 10-year plan. According to official website, Fenox VC provides early stage and final...

UNDP - a global partner for development paradigm of Bangladesh

Kazi Md Mukitul Islam | 2016-03-22 00:00:00

The United Nations Development Programme (UNDP), the fountainhead agency of development, steps into 50th anniversary this year. The birth of UNDP was at a point in time when development was measured in economic terms and well-being was equal to having...

The Taskin and Sunny affair

M. Serajul Islam from Maryland, USA | 2016-03-22 00:00:00

What is it with the International Cricket Council (ICC) and South Asian bowlers? Whenever a South Asian bowler becomes threatening, there is an ICC umpire waiting somewhere to report him. And why is it that in all this, Indian bowlers...

Good news, bad news

Abdul Bayes | 2016-03-22 00:00:00

Browsing newspapers over a cup of coffee in the morning the other day, the writer noted a good piece of news: "Columbia Professor Honoured by Dhaka University".  Dr. Mushtaque Raza Chowdhury, Professor of Population and Family Health at Columbia University...

Paper: Staying ahead of a Malthusian ghost

a 10-part series by Imtiaz A. Hussain examines one sector in one article on each Tuesday and Friday of our independence month, beginning March 01 and ending on April 01 with an overall appraisal. The seventh article of the series follows | 2016-03-22 00:00:00

Though production began seven decades ago, the paper industry faces long-term diminishing results without thinking outside the traditional box. When the Daud Group established the Karnafuli Paper Mills (KPM) in Chandragona (Chittagong), in 1953, bamboo and hardwood supplied the raw...

Strengthening research culture

Kazi Ali Toufique basing his discourse on the publication of An Economist in the Real World: The Art of Policy Making in India | 2016-03-22 00:00:00

The name of Kaushik Basu is by now familiar to the academics and the media people in Bangladesh. The Chief Economist of the World Bank, he visited the country in December last year. He is purely an economic theorist, but...

The fate of the Sundarbans: What to do with Rampal project?

Muhammad Abdul Mazid | 2016-03-21 00:00:00

The Sundarbans (meaning 'beautiful forest' in Bengali) is a vast area in the Ganges delta comprising a network of 108 swampy, low-lying islands. It is the biggest mangrove forest in the world consisting 6200km² of forest and riverine areas. It...

Outrageous indifference

Neil Ray | 2016-03-21 00:00:00

Gas explosion is allegedly responsible for a fire that has left a six-storey building in the capital's Banani area unfit for human living. A number of the building's residents had received injuries in the accident before the fire was brought...

Apathy of utility service providers

Shamsul Huq Zahid | 2016-03-21 00:00:00

The No. 9 house on road No. 23 in posh Banani residential area of Dhaka city is now empty and abandoned since a fire originating from a leaked gas pipe belonging to the Titas Gas Transmission and Distribution Company Limited...

\'Scrutiny assessment\' of tax returns to begin soon

Doulot Akter Mala | 2016-03-20 00:00:00

The National Board of Revenue (NBR) has issued a guideline asking its income tax offices across the country to start 'scrutiny assessment' of the tax returns submitted for the tax year 2015-16. As per the guideline, the taxmen have to...

Self-building: Need for critical literacy discourse

Pamelia Khaled | 2016-03-20 00:00:00

The concept of 'self-building' is usually missing in critical literacy discourse of Bangladesh secondary curriculum. According to Coffee, a literacy theorist, critical literacy is the ability to read texts in an active, reflective manner in order to better understand power,...

What is the best way to describe Vladimir Putin\'s Russia?

John Lloyd | 2016-03-20 00:00:00

In January of this year, a British judge, Robert Owen, said that Vladimir Putin, president of Russia, was 'probably' a murderer. The victim, nearly a decade before, had been Alexander Litvinenko, a former Soviet, then Russian, intelligence officer who had...

China and the future of commodity prices

Abdul Abiad and Shang-Jin Wei in Manila | 2016-03-20 00:00:00

There is no doubt that China's ongoing growth slowdown has had far-reaching effects on the global economy. But its role in the sharp fall in commodity prices that has occurred since 2014 - an outcome that has been devastating for...

$100m project on cards to develop climate-resilient enterprises

Syful Islam | 2016-03-19 00:00:00

The government is going to take a hundred million dollar project aiming at developing climate-resilient enterprises to ensure sustainable livelihoods for the vulnerable community, officials have said. The project is targeted to poor and ultra poor communities living in four...

Big businesses\' Tk 29.58b tax money gets stuck

Doulot Akter Mala | 2016-03-19 00:00:00

Some Tk 29.58 billion is stuck in a logjam of 25 lawsuits filed by 15 big businesses, making government's corporate income-tax target in recent years difficult to be achieved, sources said.    Of the corporate taxpayers, eight are private commercial banks...

Competition Commission to get going next month

Talha Bin Habib | 2016-03-19 00:00:00

The Bangladesh Competition Commission (BCC) is expected to start functioning from next month as the appointment of its chairperson and members is now at the final stage, officials said.   The Ministry of Commerce (MoC) is about to complete the process...

Desktop mkt shrinking due to surfacing of newer devices

Mohammad Wazed Ali | 2016-03-19 00:00:00

The market of desktop computer in the country has been shrinking over the years as laptops, notebooks and tablets are occupying its market share, business insiders have said. According to them, the market ratio of desktops and laptops has now...

Stocks slip into red with low turnover

Babul Barman | 2016-03-19 00:00:00

Stocks slipped into the red last week that ended Wednesday, after remaining upbeat in the previous week, as investors' sentiment lacked confidence in absence of definitive direction. "The market fell marginally as some large-cap stocks faced erosion while company specific...

Teaching \'English for Today\' at schools: Issues and challenges

Mohammad Ali | 2016-03-19 00:00:00

English is taught in Bangladeshi schools as a foreign language with a view to developing skilled human resources to face the global challenges. Before 1996 the main methods of teaching English was grammar-translation which does not give much focus on...

Debased society reaping harvest of skewed values

Nilratan Halder | 2016-03-19 00:00:00

The saga of child murder is unfolding with increasing ruthlessness. Now the most dreaded impression is that the entire country has turned into a killing field for children. Even infanticide or prolicide is making screaming headlines of late. Internal and...

China\'s high-income future

Erik Berglof in London | 2016-03-19 00:00:00

"What if this is 'as good as it gets'?" Jack Nicholson asks, as he walks through his psychiatrist's waiting room in the eponymous film. At the recent meeting of Group of Twenty (G-20) finance ministers in Shanghai, participants were asking...