College admission till July 26

The timeline for college admission without late fine has been extended by 21 days. Education Minister Nurul Islam Nahid has said college admission will continue till July 26 without late fees. He made the announcement in a press briefing held...

DSE, CSE 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 Sunday, the first session of the week. DSEX, the prime index of the DSE, went down by 4.06 points or...

BB buys 3.76b US dollars in FY15

In the wake of currencies losing their value worldwide, Bangladesh's central bank bought up US dollars worth 3.76 billion from the commercial banks directly in the just-concluded fiscal year to keep the country's money market stable. However, official figures show...

Self-assessment tax files to come under NBR scrutiny

All income tax files under universal self-assessment will come under scrutiny from the current fiscal year (FY) after the tax authority incorporated a new provision in the Income Tax Ordinance of the budget.    The provision titled 'Scrutiny assessment' will empower...

OTC transaction jumps high

Transaction on the over-the-counter (OTC) market of Dhaka Stock Exchange (DSE) rose around 300 per cent during the fiscal year (FY) 2014-15 compared to previous FY, officials said. The shares of 'Z' category the companies, which were delisted from main...

Lack of reforms, gas supply hinder production at six urea factories

The overall fertiliser production at the country's six urea factories is being hampered seriously due to lack of reforms and uninterrupted gas supply to these factories, officials said. The six factories under the Bangladesh Chemical Industries Corporation (BCIC) produce urea...

Govt may scrap 12 gateway operators\\\' licences

The government may revoke the licences of 12 international internet gateway (IIG) operators as they failed to pay their annual licence fees by June 18, BTRC sources said. The plan came as the telecom regulator failed to recover the outstanding...

Businesses need to get familiar with trade remedial measures

The new fiscal year 2015-16 starts with a new budget that provides some protection to the country's domestic industries. Although most of the local manufactures and producers are not happy enough as they find the protection measures, mostly through tariffs,...

On Shabbir\\\'s first death anniversary

Mehreen emailed me the other day to remind me that it is time to commemorate her father, my dearest "Mamu" Shabbir Ibne Yusuf. The email was a surprise but not because I needed to be reminded about her father's death...

Prevalence of hunger halved but inequality increasing

A notable feature of poverty reduction between 2005 and 2010 was a significant decline in the incidence of extreme poverty. The percentage of population under the lower poverty line, the threshold for extreme poverty, decreased by 29.6 per cent (or...

Budget: Market economy gets a shot in the arm

Another national budget got passed amid discussions and debates. Most of the debates and discussions, however, skipped the philosophical content of the budget. Budget philosophy or what may be conveniently termed 'broad guiding principle' does not appear dramatically nor does...

Businesses need to get familiar with trade remedial measures

The new fiscal year 2015-16 starts with a new budget that provides some protection to the country's domestic industries. Although most of the local manufactures and producers are not happy enough as they find the protection measures, mostly through tariffs,...

BB seeks permission to inspect PKB, PSB

Bangladesh Bank (BB) has sought permission from the government to inspect the Probashi Kalyan Bank (PKB) and the Palli Sanchay Bank (PSB) in a bid to ensure good governance in the management of the banks, a senior central banker said....

Process starts to short-list bidders for 10km metro rail

The government has started the process of short-listing bidders before inviting tenders from them for constructing the 10-kilometre metro rail route in the city that is scheduled to be opened to commuters by 2019. Officials said the pre-qualification bids for...

What\\\'s wrong with Maggi noodles?

India is one of the largest markets in the world for instant noodles. According to market research institute Euromonitor International, Nestle has a market share of almost two-thirds. The noodles make up only a fraction of Group sales of converted...

Exploring life on the edge

Youth is a time for pursuing dreams. Some like to romanticise all they behold, others only love to take fancy for sports and yet others for daring and thrilling hobby or occupation. In uncountable ways do young people chase their...

Country passing through a phase of rapid change

Most people, including experts, are of the opinion that economic development is the ultimate goal in a nation's life. Critically speaking, it is not so, because fulfillment in a nation's life is subject to development in various spheres at the...

Businesses need to get familiar with trade remedial measures

The new fiscal year 2015-16 starts with a new budget that provides some protection to the country's domestic industries. Although most of the local manufactures and producers are not happy enough as they find the protection measures, mostly through tariffs,...

What distinguishes Islamic banking from conventional banking

Islamic banking is now a widely used term and has emerged as one of the most important trends in the financial world. Demand for financial products and services that follow the shariah or Islamic law had always been there. With...

Rural economy undergoes structural changes

The government is strongly committed to reduce poverty, improve human development and reduce inequality. This commitment is rightly reflected in the Perspective Plan of Bangladesh 2010-2021 (Making Vision 2021 a Reality), the ongoing Sixth Five Year Plan FY11-FY15 (Accelerating Growth...

Remittances stand at record $15.31b

The flow of inward remittances has crossed US$15 billion-mark in the just-concluded fiscal year due to various measures taken by the central bank to increase its flow, officials said. Remittances sent by Bangladeshis working abroad stood at $15.31 billion, a...

NBR asks chambers, businesses not to employ illegal foreigners

The National Board of Revenue (NBR) has asked the country's leading chambers and businesses for not appointing or employing illegal foreigners to avoid heavy penalty to be imposed by the taxmen. Penalty for appointing illegal foreign workers has been incorporated...

Integrity in the eyes of youths

The National Youth Integrity Survey 2015 conducted by the Transparency International, Bangladesh (TI,B) has successfully delved deep into the recess of the country's young population's minds. Thanks are due to the watchdog body for giving a glimpse of the collective...

Meritocracy should get priority in politics and bureaucracy

Until recently, the government of the People's Republic of Bangladesh has been running with 231 office organisations under 36 ministries. Soon after the independence, the number of ministries was 21 in 1972, 13 in 1975, 33 in 1977 under a...

Inequality: The dark side of development

Bangladesh duly boasts of a growth rate averaging little more than 6.0 per cent per annum for a decade. Again, on the heels of lowering population growth rate, per capita income has been rising, on average, by around 5.0 per...

Stocks break three-day gaining streak

The first trading session of the new fiscal year ended in the red zone with falling turnover as investors followed cautious stance. The market opened with a downward note, which sustained throughout the session amid marginal volatility. DSEX, the prime...

DSE, CSE down at opening

The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw downward trend in early hour of trading on Thursday, the first session of the new fiscal year. DSEX, the prime index of the DSE, went down by 29.84...

Mixed trend in PCBs\\\' H1 operating profit

The operating profit of the country's private commercial banks (PCBs) showed a mixed trend in the first six months (H1) of the current calendar year (January-June 2015). Most of the banks, particularly the large ones, could not perform in line...

SATIS to be finalised soon

The Schedule of Specific Commitments among the SAARC countries under the SAARC Agreement on Trade in Services (SATIS) is expected to be finalised to expand cooperation in service, trade and further deepen the integration of the regional economies soon, officials...

HC stays BSEC directive on Orion Pharma placement share

The long pending higher-priced placement share of Orion Pharma Ltd further hangs in the balance as the High Court (HC) stayed the securities regulator's recent directive to settle it, sources said. "The HC stayed the directive of Bangladesh Securities and...