LTU unsure about reaching corporate tax target in FY ‘16

Into the second month of the current financial year (2015-16) some officials at the Large Tax Unit (LTU) of the National Board of Revenue (NBR) are increasingly becoming sceptical about achieving a 36 per cent growth in corporate tax revenue...

FRC formation embroiled in \\\'unnecessary\\\' debate

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) said that the debate over inclusion of cost and management accountants (CMAs) in the proposed Financial Reporting Council (FRC) has been created to destroy its main objective. "The debate was...

Planned reporting body to be toothless, says ICAB head

The Institute of Chartered Accountants of Bangladesh (ICAB) has expressed its doubt over the effective functioning of the proposed Financial Reporting Council (FRC). The FRC will be a body, under the proposed Financial Reporting Act (FRA), for overseeing the financial...

Many pharma cos see positive growth

Majority number of listed pharmaceutical companies witnessed positive growth in first half of this calendar year compared to same period of the previous year as their sales increased. Out of 27 companies listed under the category of Pharmaceuticals and Chemicals,...

No alternative to agricultural modernisation

In many developing economies, governments change quite fast but the state of agriculture changes at a snail's pace. India is no exception. The 12th Five-Year Plan (2012-2017) is midway with a mixed performance. The major grey area, as usual, has...

Non-performing loans: Policy review is required

Non-performing loans constitute a sizeable portion of our total bank loans. The scenario is worse if we consider the period of non-payment of the outstanding loans. Bad loans, as we may term a part of it, have been lying un-recovered...

Recognising access to Internet as a human right

The internet is now the most powerful source of knowledge and enlightenment. While there appears to be no express right of general application to 'access the Internet' stipulated in any of the major international human rights instruments, it has been...

Stocks close higher despite technical glitch at DSE

Stocks ended marginally higher Wednesday though technical glitch hit trading  on the premier bourse. Trading, that usually takes place between 10:30am and 2:30pm, started at 12:10pm and continued till 4:10pm. However, trading took place for full four hours except instrument...

DSE trading begins at 12:10am

Trading at the Dhaka Stock Exchange (DSE) started at 12:10pm and will continue till 4:10pm on Wednesday as a technical glitch delayed trade resumption at the premier bourse. However, instruments on SPOT trading cycle will be tradable up till 2:30pm...

Technical glitch halts DSE trading

A technical glitch at the Dhaka Stock Exchange (DSE) is halting trade in the country’s premier bourse till filing this report at 11.08am on Wednesday, the fourth session of the week. DSE officials said due to the sudden technical problem,...

Whose profit is this, anyway?

 'Jakkher dhan takkhe khai' is a saying in Bengali often used to describe the fate of the assets belonging to the miserly people. The literal meaning of the saying is that a kind of venomous lizard having suckers on its...

Audit detects attempts to play with numbers

A leading audit firm has given adverse opinion on the BASIC Bank's financials for the year 2014 as it detected gross anomalies in those. The discrepancy came to the notice of the auditors from Acnabin while checking the financial accounts...

Govt moves to execute Modi visit\\\'s decisions

The government is gearing up all relevant segments of the administration for expediting execution of the decisions taken during Indian Prime Minister Narendra Modi's Dhaka visit in June. To this end, the Ministry of Foreign Affairs will hold an inter-ministerial...

Bangladesh, Bhutan to explore scope

The Joint Group of Customs (JGC) of Bangladesh and Bhutan has recently decided to explore the possibility of using Chilmari-Roumari river routes by Bhutan. The joint working group of customs officials discussed the agenda at a meeting held in Thimphu,...

Listed cement cos witness mixed profits in H1

Listed cement companies witnessed mixed trend in their profits in the first half in 2015, compared to the same period last year as businesses faced disruption due to political turmoil. Among the seven listed cement-makers, four witnessed profits during the...

Technology for rebuilding consumer confidence

Currently the financial services industry is passing through a critical phase. Financial crises and numerous product mis-selling scandals have caused erosion in customer confidence. This industry needs to find a way out for rebuilding the lost trust. Many experts are...

DSEX dips below 4,800-mark

Stocks closed marginally lower on Tuesday, for the fourth consecutive day as investors went for late hour selling binge, fearing further fall. The market started with a mixed trend and gradually landed into the red as the session progressed. DSEX,...

Death for Siraj, jail for Akram

The first war crimes tribunal of Bangladesh on Tuesday sentenced Bagerhat's 'Razakar' Sheikh Sirajul Haque alias ‘Siraj Master’ to death. The International Crimes Tribunal (ICT)-1, led by Justice Enayetur Rahim, also sentenced another 'Razakar' of Bagerhat district Khan Akram Hossain...

Stocks witness mixed trend at opening

The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw mixed trend in early hour of trading on Tuesday amid volatility, the third trading session of the week. DSEX, the prime index of the DSE, went down by...

Current-account balance negative after two years

Higher trade deficit sent the country's current-account balance into a negative territory again in the just-concluded fiscal year (FY) after boasting surplus in the preceding two years. The current-account deficit stood at US$1.65 billion in the FY2014-15 in a slide...

ECNEC nod likely today for buying 20 dredgers

The government is set to approve procurement of a fleet of 20 dredgers to help maintain adequate navigability in inland river routes, many of which begin to dry up just after monsoon.     Officials said the Executive Committee of the National...

Probe body on JBC fund embezzlement

The authorities have formed a committee to investigate alleged embezzlement of insurance money worth Tk 200 million of the state-run Jiban Bima Corporation (JBC), officials said. Deputy General Manager (DGM) of the life-insurance company (current charge) Md. Anower Hossain is...

MDG achievement - a story of success

Following the UN Millennium Declaration, Bangladesh well-tuned the Millennium Development Goals (MDGs) into its long-term and mid-term development Plans and now is reaping the benefits of it in different socio-economic arena.    The latest publication of Bangladesh MDGs Progress Report 2014...

Diversification giving hope to small jute farmers and labourers

Jute, popularly known as 'golden fibre' for ages, has become alternately both a boon and a bane for the country's farming millions who depend heavily for their livelihood on this product. One bad year - low price for the product...

Male-female working status

A worker or labourer is defined as a person who is engaged at least for one hour in activities that increase or save income for the household. Under this definition are included both full-time and part-time labourers whereas in the...

Achieving development through growth

Growth and development are more often than not equated with each other. As a matter of fact, growth can not be interpreted as development or vice versa by any stretch of imagination. An attempt to draw an analogy between the...

Stocks extend losing streak for third day

Stocks extended their losing streak for the third running sessions on Monday with volatile trading as investors remained cautious amid profit taking. The market started with a mixed trend and landed into the red as the session progressed. DSEX, the...

Stocks down at opening amid volatility

The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw downward trend in early hour of trading on Monday amid choppy trading, the second trading session of the week. DSEX, the prime index of the DSE, went down...

BB again asks SoCBs to improve financial health

The central bank warned Sunday the top management of four state-owned commercial banks (SoCBs) that it might appoint observers to the boards of directors of the banks if they failed to improve their respective performance, officials said. The Bangladesh Bank...

Monitoring of courier services in border areas ordered

The Customs has issued an order to closely monitor activities of courier services in the border areas suspecting entrance and movement of smuggled goods in different places of the country. The Customs wing under the National Board of Revenue (NBR)...