Govt to okay Tk 3.37b earth-filling project

The government is going to approve a project proposal for earth-filling 918.5 acres of land for building the proposed 1320-megawatt thermal power plant at Rampal. The earth-filling work costs over Tk 3.37 billion, officials said.      To push forward the move...

BD to net $1.5b FDI a year with PPP bait

 The country hopes to net some US$ 1.5 billion in foreign direct investment (FDI) a year as it has created an enabling investment environment under Public-Private Partnership (PPP) paradigm. Authorities concerned aired such high hopes based on the groundwork done...

BD, Eurasian countries move to establish common market

Bangladesh and Eurasian countries are close to establish a common market to work jointly for developing a trade and economic bloc, officials said. Establishment of the proposed common market will be a milestone in development of Bangladesh and Eurasian countries...

StanChart official backs banking sector\'s digitisation drive

A senior Standard Chartered official has laid emphasis on pursuing the ongoing digitisation process in the banking system along with introducing innovative services for the clients as a means to boost the banking industry. Alex Manson, Global Head of Transaction...

Ensuring access of the poor to justice through legal aid mechanism

Bangladesh is a developing country where respect and awareness regarding social justice and human rights are still at a low level. The condition is worse for the underprivileged mainly among the char and haor people, indigenous groups, ethnic and religious...

Talking about a flat rate of VAT

VAT is again at the centre of pre-budget discussions as the day of budget presentation is drawing nearer. The discussion has gained momentum as media reports indicate that a new law envisaging a single VAT rate has been drafted by...

Evolution of agricultural policies

Bangladesh's agricultural policies have, for the last four decades, evolved in response to changing needs of time. Immediately after independence, as we may recall, policies were formulated keeping in view the strategic role of the public sector. It was a...

Why do countries differ in total factor productivity?

Theoretical and empirical literatures on sources of economic growth emphasise on factor accumulation and factor productivity as two major sources of growth. Though factor accumulation can explain a significant part of economic growth, it can't explain the sustained long-run economic...

EU seeks transparent rules to facilitate investment in BD

The European Union (EU) wishes to see the relevant rules and regulations to be transparent in some specific fields to facilitate fresh investment in Bangladesh, officials said ahead of a bilateral business meet. EU officials will sit with trade officials...

Meghna Bank to introduce chip-based mobile banking

Privately-owned Meghna Bank is set to introduce chip card-based mobile financial services for the first time in Bangladesh by July this year, the bank's top executive said. "We're now working to introduce the card-based (EMV-enabled) mobile financial services shortly  draw...

EU likely to extend ban for more than one year

The European Union (EU) is likely to extend the ban on import of betel leaves (paan) from Bangladesh for more than one year due to non-compliance with EU relevant rules, officials said.   The EU has recently given the embassy of...

The best solutions to the most serious health issues that remain in Bangladesh

Over recent decades Bangladesh has seen amazing improvement across many health indicators. Maternal mortality has decreased 75 per cent, infant mortality has halved, and life expectancy has surpassed that of both India and Pakistan. The progress has been so impressive...

When stealing food is no crime

The ruling by the Italian highest court of appeal on stealing of food is momentous. It is certainly going to be reckoned as a milestone in the history of judiciary anywhere. The court set aside an earlier lower court sentence...

Innovative contractor, indeed!

A recent newspaper report on the use of bamboo slices instead of mild steel (MS) rods in the construction of a two-storey biological research centre at Damurhuda upazila in Chuadanga has only reconfirmed the widespread suspicion about the quality of...

Macro analysis: Growth number eclipses reality

The annual ritual of GDP-growth debate has resumed with an all too familiar flavour: the government swatting away less optimistic growth figures coming from every direction. That the economy reportedly grew by 7.0 per cent adds a little spice to...

Govt out to devise means for avoiding tax exemption

The government is weighing the possibility of paying from its own coffer the duties and taxes of public-private partnership and joint-venture projects and considering the same as part of its equity in those projects. Officials said the move came following...

Import payments of ACU member-states drop

Import payments of the Asian Clearing Union (ACU) member-countries dropped significantly in recent months following declining trend of commodity prices in the global market, officials said. The import payments fell by more than 12 per cent to US$879 million during...

Govt set to extend VAT exemption facility for refrigerator, motorbike manufacturers

The government is set to extend the VAT (value added tax) exemption facility for local manufacturers of refrigerators, air conditioners and motorcycles for two more years, officials said. The initiative has been taken aiming to develop these sectors and increase...

US again tags labour rights to any trade benefit for BD

The United States has tagged ensuring labour rights binding any trade benefit for Bangladesh under any scheme through which it helps least developed nations, officials said. "…improvement in the labour sector is the threshold for Bangladesh to qualify for any...

Eradication of extreme poverty - best way to celebrate Golden Jubilee of independence

Bangladesh has made impressive gains in reducing poverty over the last two and half decades. During this period, headcount poverty ratio declined from 56.7 per cent to 24.8 per cent. An estimate shows Bangladesh achieved Millennium Development Goal (MDG) target...

Why Stephen Hawking said \'Philosophy is Dead\'

Again physicist Stephen Hawking stunned his audiences and readers at the Google's Zeitgeist conference by declaring 'Philosophy is Dead.' In his speech he told now philosophers are unable to update their knowledge on the continuous development in sciences, especially physics...

Irrigation expands as equipment market liberalised

The agricultural sector holds the key to Bangladesh's economic growth and development although the sector's share to GDP (gross domestic product) has drastically declined from 50 per cent in the 1970s to below 20 per cent in the recent years....

The false promise of helicopter money

One of the most prominent questions concerning the global economy today is whether monetary policy is approaching the limit of its effectiveness. Inflation remains well below target in the eurozone and Japan, despite aggressive quantitative easing (QE) and negative policy...

Kuakata: The eternal source of scenic beauty

Patuakhali is a district under Barisal division in south-western part of Bangladesh. The lands of the district are composed of alluvial soil of the Meghna basin and a number of char lands. The main and majestic tourist attraction in Patuakhali...

Building our cities green

Building a green city is a prerequisite for living in a healthy environment. Starting to think of 'green city' could lead us to overcome the prospective many challenges across the globe. But, a misconception of the greenest city is still...

Obsession with the trivial

Jeorge Clooney has drawn attention to a subject most people have blissfully forgotten about. It is the preoccupation or obsession with the trivial. Three Golden Globe Awards and two Academy Awards (Oscar) winner, the actor, director and activist has made...

Customs tariff structure \'not business-friendly\'

The existing customs tariff structure is not efficient and business-friendly due to faulty categorisation system in duty rates on import of basic raw materials, intermediate products and final consumer goods, a study has revealed. It has found some of the...

The Fed\'s risky new mandate

 "In this world, there are only two tragedies," Oscar Wilde once wrote. "One is not getting what one wants, and the other is getting it." As the US Federal Reserve inches closer to achieving its targets for the domestic economy,...

Govt to raise bank borrowing in June to meet budget deficit

The government is set to increase bank borrowing in June partly to finance its budget deficit by the end of ongoing fiscal year (FY) 2015-16, officials said. It may borrow Tk 108.50 billion from the banking system with issuing treasury...

AFD mission due next week

A high-powered mission of the French government will arrive in Dhaka on a five-day visit in order to discuss major conditions for the proposed €50 million loan agreement for upgradation of safety standards of the country's export-oriented ready­made garment (RMG)...