Undercover barter trade at sea finds bonanza

Undercover barter trade at sea finds a bonanza as some unscrupulous foreign-ship crew in cahoots with private watchmen exchange goods and report piracies to information centre, according to finding by the Chittagong Port Authority (CPA). Officials have said the CPA...

Overcoming challenges and pursuing growth

Bangladesh's inspiring growth and development journey has been supported by the World Bank, as the nation aspires to achieve upper middle-income status by 2031. Since 1972, the World Bank has committed over $35 billion to support Bangladesh's development efforts, making...

Respecting the Geographical Indication

With the recognition of 'kanchagolla' as a GI (Geographical Indication) product, Bangladesh has got its 17th such agricultural produce and traditional products of local origin. If 'rasogolla' heads the list of sweetmeats, kanchagolla does not lie far behind in appeal...

Ctg emerging from deluge to dry

CHATTOGRAM, Aug 10: The weather in Chattogram has returned to normal after eight consecutive days of non-stop rainfall and flooding that disrupted daily life across the region.The incessant downpour, which began on the early morning of August 2 in greater...

Six-point combat against trade-based money laundering planned

A six-point combat is ahead to curb trade-based money laundering amid reports on flight of huge funds from Bangladesh, especially through suspected over-and under-invoicing and misdeclaration. Sources have said customs intelligence has crafted the action plan of late and recommended...

Kamalapur MmTH sees progress

The planned multimodal transport hub (MmTH) on Kamalapur rail station premises has made progress by finally appointing an Indian joint venture company as the transaction advisor (TA) to conduct an extensive study for the mega public-private partnership (PPP) project.The Public...

Big power rivalries and small nations

China has extended an invitation to Bangladesh for joining the China-Indian Ocean Region Forum on Development Cooperation. Bangladesh is reportedly studying the geopolitical implications of becoming a member of the forum. The China International Development Cooperation Agency (CIDCA) hosted an...

Why positive half-yearly earnings reports not reflected on the market?

Large-cap stocks, such as Grameenphone, British American Tobacco Bangladesh, and Robi Axiata, have failed to draw investors though they posted remarkable profit growths for the first half of this year.Almost all the top 10 large-cap stocks, including some renowned local...

The blighted star we inhabit

There is not much to be happy about the world we inhabit in these times. There are no good reasons to be optimistic about the future, for on that future hang heavy and increasingly thickening clouds of gloom. It is...

CCCI gets new leaders

CHATTOGRAM, Aug 08: The newly elected directors of Chattogram Chamber of Commerce and Industry (CCCI) unanimously elected Omar Hajjaj as president, Tarafdar Md Ruhul Amin as senior vice-president and Raisa Mahbub as vice-president of the chamber for the term 2023-25....

Over 5.0m tonnes of rice lost annually due to ‘polishing’

Unscientific milling system has been causing wastage of 5.17 million tonnes of rice every year, while the country has to import 1.0-1.5 million tonnes of the staple yearly for maintaining a balance in the domestic market. The Department of Agricultural...

Multinational tech giants to face VAT scrutiny

To scrutinise any mismatch between the paid and actually payable value-added tax (VAT), the revenue authority is considering launching audits of the financial statements filed by global technology giants along with their VAT returns. Currently, 12 non-resident companies, including Google,...

Waterlogging in Chattogram improves partially

CHATTOGRAM Aug 07: The waterlogging is some parts of the port city improved this afternoon following cessation of rain. Low-lying areas are, however, still under ankle-to-waist deep water.The authorities closed all educational institutions in Chattogram on Tuesday after a college...

Metrorail service likely to open on Oct 20

The Dhaka metro-rail company is getting ready to open the long-awaited Agargaon-Motijheel part on October 20 amid challenges of an essential test run of trains by then.According to officials, a summary paper on the 8.11-kilometre route of the mass rapid...

SPM project cost, time escalations again

Once again the single-point mooring (SPM) project, which will enable Bangladesh to pipe imported oil from deep sea direct into refinery, is up for time and cost escalations, officials said.Physical progress of the project, funded by China, is now reported...

Dissecting Capitec Asset's portfolios to know how it achieved high returns

Award winning Capitec Asset Management secured commendable returns at double-digit rates from investments out of its two open-ended mutual funds in FY22, which was much higher than from most other instrument vehicles. Its Shariah-based fund, Capitec Padma P.F. Shariah Unit...

Reining in the inflationary horse

Looking at the rise in the prices of commodities, essential or not, common sense says, the inflation is not slowing down at the expected rate. In July 2023, according to the Bangladesh Bureau of Statistics (BBS), the point-to-point inflation rate...

Waterlogging turns severe in Ctg

CHATTOGRAM, Aug 06: Chattogram's key commodity hubs Khatongonj and Chaktai have been hit hard by heavy rain and tidal waters over the last several days, leading to extensive losses for traders and businesses in the area.Continuous downpour since August 2...

Delhi proposes talk on Bangladesh food quota

India and Bangladesh are set to discuss an annual fixed quota for importing six commodities and food-grains from India to Bangladesh, sources said.The Indian High Commission in Dhaka has proposed the discussion, which will be held in a virtual format.The...

NBR suspects wrongdoing, may reopen some ADR cases

Government's revenue authority moves to review a dozen cases of large taxpayers settled through ADR posthaste as it found entire claim to taxes written off, sources say. High-ups at the National Board of Revenue (NBR) suspect that government might have...

NBFIs’ profits halve in H1 as interest spread hits historic low

Non-bank financial institutions' (NBFIs) overall profit halved year-on-year in the first six months of this year, owing to rising costs of funds rendered by shrinking interest spread.The gap between borrowing and lending rates came down to a historic low at...

Chinese co plans to set up router plant

China's digital technology company KFL Group is planning to set up a router manufacturing plant in Bangladesh to produce the device at affordable prices. The company has expressed its willingness to invest Tk 1.0 billion primarily to manufacture the latest...

Mother nonpareil

A leading contemporary carries success stories of ordinary people or their unusual achievements under what may be called a shoulder headline or kicker, 'Samoyer Mukh' (face of the time). Yesterday it carried an interview of a mother who has passed...

Warmer seas pose bigger threat to life

Senior citizens often express their worries over the changes in the timing and nature of seasonal events such as late arrival of the winter, its shorter span or absence of rain in the rainy season. But people want to reassure...

Decline in some major imports hits govt revenues

Import volume of some major revenue- generating products declined in the last fiscal year with resultant fall in government's collection of customs duty and taxes.Out of the ten sources of revenues, some 70 per cent are industrial raw materials used...

Top 10 open-ended MFs strike double digit return rates for FY22

As many as 10 open-ended mutual funds (MFs) generated returns at double-digit rates between 11.9 per cent and 26.7 per cent in FY22, with investments concentrating on blue-chip stocks, according to EBL Securities. The high incomes from investments were derived...

The myth of market syndication

That 'syndicates' are behind unusual rise in prices of essential commodities is more of a popular perception. Even policymakers often blame a section of traders for creating syndicates that have hitherto remained beyond the reach of the long hand of...

Attack on women footballers is a disgrace

Right at the time when the FIFA Women's World Cup is in progress in the two neighbouring countries across the Tasman Sea --- Australia and New Zealand, four women footballers of the under-17 Khulna divisional football team came under physical...

Ctg fertilizer dealers threaten to cut supply amid Aman season

CHATTOGRAM Aug 04: Bangladesh Fertilizer Dealers Association (BFDA) alleged that they face extortion and the imposition of illegal tolls while collecting the crucial agricultural input from Chittagong Urea Fertilizer Limited (CUFL).During this peak Aman paddy- planting season, BFDA leaders have...

Ctg struggles with waterlogging despite govt projects

CHATTOGRAM, Aug 03: People in Chattogram are yet to be freed from waterlogging during the rainy season, despite several government projects initiated in 2018 to address the crisis. The situation remains challenging as heavy rains inundated low-lying areas of the...