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BPC bid for adjustment against Tk 31.51b refund claim fails

Doulot Akter Mala | 2016-10-31 00:00:00

The National Board of Revenue (NBR) has recently turned down a plea from the Bangladesh Petroleum Corporation (BPC) on adjustment of arrear VAT against its refund claim.  The BPC owes Tk 20.20 billion in arrear Value Added Tax (VAT) to...

BB starts agro-credit monitoring ahead of major crop seasons

Siddique Islam | 2016-10-31 00:00:00

Bangladesh Bank (BB) Sunday asked the commercial banks to provide farmers with adequate credit support to boost agriculture production in the country. The credit should be disbursed without any harassment and in time so that the target is achieved by...

NPLs overshadow achievements of banking sector

Nironjan Roy in the third of a six-part series titled Managing and streamlining non-performing loans from Toronto, Canada | 2016-10-31 00:00:00

Loan syndication is quite popular in our country but this has to be done in a standard form that requires a separate web-based market where all lenders, i.e., banks or financial institutions will be registered on lenders' side and the...

Transgender people\'s toll collection

Neil Ray | 2016-10-31 00:00:00

Society is yet to recognise transgender people as its members in equal terms with others. This particular type along with intersex is highly misunderstood -more than the lesbian, gay and bisexual. Society has a long way to go before the...

When \'discomfort\' says something positive

Shamsul Huq Zahid | 2016-10-31 00:00:00

Two high officials of the Power Division, allegedly, received a staggering amount, $80 million (nearlyTk 64crore) to be exact, as bribe from a Spanish company for helping the latter in securing the contract for setting up a 450 megawatt power...

Investing gratuity funds in NSCs on the cards

Doulot Akter Mala | 2016-10-30 00:00:00

The government has initiated a move to update the relevant rules to allow investment of gratuity funds in national savings certificates (NSCs). Internal Resources Division (IRD) of the Ministry of Finance recently formed a body and asked it to submit...

Pensioners and populism

Anatole Kaletsky in New York | 2016-10-30 00:00:00

If Donald Trump loses the US election, will the tide of populism that threatened to overwhelm the world after the Brexit vote in June begin to wane? Or will the revolt against globalisation and immigration simply take another form? The...

Jute goods export: India’s allegation of dumping

Asjadul Kibria | 2016-10-30 00:00:00

The business community has expressed concern over India's move to impose anti-dumping duty on jute and jute goods exported from Bangladesh. These items now enjoy duty-free access to India under the South Asia Free Trade Area (SAFTA) agreement. Jute goods...

BD welcomes US dredger makers

Syful Islam | 2016-10-29 00:00:00

Dhaka has assured Washington of fair competition in bidding process in the future for collecting dredgers and welcomed US companies to compete for deals, officials said. The assurance came as the US embassy in Dhaka in a recent letter to...

Championing the cause of girls and women

Rakibul Hasan | 2016-10-29 00:00:00

On October 01 last Peacempire successfully launched its social action project in the largest school of Narayanganj, namely Murapara Model Pilot High School, bringing together nearly 1,375 students at a road show, just after collecting petition signatures of 603 people...

Multi-literacy and complexity: Bangladesh case

Pamelia Khaled | 2016-10-29 00:00:00

Literacy is a practice shaped up by social factors such as culture, gender, politics and economics. In turn, it also shapes up all those factors. Achieving literacy is every nation's aim and this vision is part of the United Nations...

Inter-species tenderness transcends boundaries

Nilratan Halder | 2016-10-29 00:00:00

It is a most amazing picture --enough to change commonly held human notions about other species' capacity to feel empathy. Bending its two front legs, a young cow strives to have a better look of a toddler in a squatting...

High rate of non-performing loan is an acute problem

Nironjan Roy in the first of a six-part series on Managing and streamlining non-performing loans from Toronto, Canada | 2016-10-29 00:00:00

Banking sector in Bangladesh has rapidly developed during the last four decades. In fact, a revolutionary change has taken place in the country's banking arena. Product diversification, automation, online banking, mobile banking, reaching banking services to the doorstep of the...

Managing merchants of labour: Incentives to improve recruitment

Philip Martin | 2016-10-29 00:00:00

Merchants of labour, the recruiters between workers seeking jobs and employers seeking workers, have a long and chequered history. They are often associated with trickery or coercion to fill undesirable jobs, from finding soldiers in ancient Rome and sailors in...

BR’s airport station to host multimodal transport hub

Munima Sultana | 2016-10-28 00:00:00

The parties concerned have reached an agreement over establishment of a multimodal transport hub at the airport station of Bangladesh Railway (BR) burying more than five years of stalemate over the site selection. Transport experts have favoured the site in...

BCIC seeks fertiliser subsidy, or hike in urea sales price

Syful Islam | 2016-10-28 00:00:00

Bangladesh Chemical Industries Corporation (BCIC) has requested the government to set higher the price of urea fertiliser or provide a subsidy of Tk 4,000 per tonne to offset the losses it incurs due to selling the agriculture input at an...

Increasing corporate cases block Tk 60b in unpaid taxes

Doulot Akter Mala | 2016-10-28 00:00:00

Some common disputes between taxmen and big taxpayers create room for incremental revenue-related court cases in the country that stuck up income tax worth Tk 60 billion. Officials said the tax revenue overdue from large corporate taxpayers under the Large...

News Briefs

S Alam ends land survey of Banshkhali plant next week | 2016-10-28 00:00:00

CHITTAGONG, Oct 26: Digital land survey of the country's largest private sector coal-fired power plant at Gandamara under Banskhali upazilla of the district will end next week. S Alam Group is the major partner of SS Power Limited, owner of...

Shipping line with Myanmar to dominate next month’s talks

Talha Bin Habib | 2016-10-28 00:00:00

Bangladesh will make efforts to persuade Myanmar to establish a coastal shipping line during the commerce secretary level meeting in the latter's capital Naypyidaw next month, officials said. The meeting is expected to be held in the second week of...

From Trump to Tramp or vice versa!

Nilratan Halder | 2016-10-28 00:00:00

Charlie Chaplin's most famous comic character, The Tramp has many things in common with his near namesake, Donald Trump. The antics of the little vagrant fellow in Chaplin's silent films are meant for social sarcasm, whereas Trump, the Republican candidate...

Central bank warns NBFIs against irregularities

Siddique Islam | 2016-10-27 00:00:00

The central bank warned the non-banking financial institutions (NBFIs) against irregularities over lending and concealing information in reporting their financial affairs. Officials said the fresh warning came at a meeting of the chief executive officers (CEOs) and managing directors (MDs)...

Bangladesh Science Society for development of life skills

Ahmad Abdullah Rifat | 2016-10-27 00:00:00

Bangladesh Science Society, one of the leading science organisations of Bangladesh, has covenanted with Praekelt Foundation, a South Africa based non-profit organisation. With a view to conveying science related knowledge and work-field information to the people of Bangladesh, these two...

BSEC asks ICB to explain its position

Mohammad Mufazzal | 2016-10-27 00:00:00

The securities' regulator has asked the state-run Investment Corporation of Bangladesh (ICB) to explain its 'position' regarding management of ICB Unit Fund, as the corporation is found not 'registered' as a fund manager. The regulatory move came to bring the...

Keeping American democracy in suspense?

Abdur Rahman Chowdhury from Falls Church, Virginia, USA | 2016-10-27 00:00:00

Since the second presidential debate held on October 09 the political atmosphere in the United States has taken a turn for the worse. Donald Trump sharpened attacks against his rival Hillary Clinton and continued tirade against the minority communities. He...

Corruption undermines state\'s legitimacy

Helal Uddin Ahmed concluding a two-part article titled Revisiting the causes and costs of corruption | 2016-10-27 00:00:00

According to a United Nations Development Programme (UNDP) Report, "Corruption is widespread in social services such as health and education, as well as in public utilities that provide electricity and water. As a result, poor people find themselves excluded from...

Trump\'s statement appals both Democrats and Republicans

M. Serajul Islam concluding a two-part article from Maryland, USA | 2016-10-27 00:00:00

The media knew all along that Donald Trump would be a disaster. They indulged him nevertheless, first, in order to make the election competitive, and second, that he had energized a huge base with a strong message against Washington's "political...

ACC recipe for ailing banking sector

Shamsul Huq Zahid | 2016-10-26 00:00:00

It is no secret that the country's banking sector faces a disconcerting situation. Much of the blame for this untidy state of affairs, now prevailing in the sector, goes to the state-owned banks. The sector regulator, the Bangladesh Bank (BB)...

BB appoints observer to First Finance Ltd

Siddique Islam | 2016-10-26 00:00:00

The central bank has appointed an observer to another non-banking financial institution (NBFI) to closely monitor its operations, officials said. A K M Amjad Hussain, general manager of Financial Integrity and Customer Services Department of Bangladesh Bank (BB), has been...

Dhaka to seek Chinese co-op in jute sector

Talha Bin Habib | 2016-10-26 00:00:00

A high-powered government delegation will visit China later this month to strengthen bilateral cooperation for revitalising the country's jute sector, officials said.   To be led by state minister for textiles and jute Mirza Azam, the 15-member Bangladesh delegation is expected...

Corruption: A governance problem

Helal Uddin Ahmed in the first of a two-part article titled Revisiting the causes and costs of corruption | 2016-10-26 00:00:00

Corruption is a universal phenomenon which existed in one form or another since time immemorial. A review of penal codes used in ancient civilisations clearly indicates that bribery was a serious problem among the Jews, the Chinese, the Japanese, the...