Open-end mutual funds to be listed

Open-end mutual funds (MFs) from now on will be able to be listed with the main bourse as per the regulatory approval, officials said. The Bangladesh Securities and Exchange Commission (BSEC) has included the listing provision for open-end MFs in...

Another band of 179 NGOs bag licence for microcredit operations

A new band of 179 non-governmental organisations (NGOs) have got licence conditionally for three years to run microcredit operations in 37 districts having higher incidence of poverty.   Two prime ones of the conditions given to them by the Microcredit Regulatory...

Scepticism over FRA efficacy as parties go bickering

Enactment of the proposed Financial Reporting Act (FRA) keeping Chartered Accountants (CAs) and Cost and Management Accountants (CMAs) wide apart may make its execution difficult, officials and experts have said. They have come up with the view against the backdrop...

Human Resource Management as a career track

Question (Q): Could you tell us about your background. Answer (A): I am the Compensation and Benefits Manager at British American Tobacco Bangladesh Limited since 2011. Before that, I  worked at an international bank. At the moment, I primarily manage...

Large government lowers economic growth

The United Kingdom provides additional evidence. The government's share of GDP rose from 32.2 per cent in 1960 to 47.2 per cent in 1982. During this period, the UK's GDP growth rate was 2.2 per cent and there was widespread...

Case filed against BD, three buyers

A civil case was lodged in the United States of America (USA) against Bangladesh and three apparel buyers to get compensation for Rana Plaza victims and remedy for further incidents, officials said. One Abdur Habibur Rahman filed the case with...

Move to measure actual current LDC status of Bangladesh

The government moves to measure actual current LDC position of Bangladesh as the nation bids for graduating from the world's poor-country club into the next stage by 2020, officials said. At a recent meeting at the economic relations division (ERD)...

Taxmen fear large-scale abuse

The reintroduction of exemption and lower rate of tax on income from fisheries in the new fiscal (2015-16) is likely to benefit the heavyweights, allowing them to sidestep the payment of a substantial amount of tax, revenue officials have said....

More loan restructuring pleas to BB by deadline

Two commercial banks submitted proposals of three more business groups to the central bank Tuesday for restructuring their large loans for repayment over a longer time. The deadline for receiving applications for loan restructuring by the Bangladesh Bank (BB) expired...

Redoing revenue arithmetic

The National Board of Revenue (NBR) will surely assess the impact of the changes made to the original fiscal proposals made in the Finance Bill-2015 before its adoption by the Jatiya Sangsad (national parliament) Monday last. Every year the revenue...

A recipe of development for DCC mayors

One man can make a difference.  Gen. Park changed the whole of South Korea in 10 years' time. General Lee Kuan made Singapore one of the most liveable cities of the world. For any good job, one person is enough....

The tide of big governments is receding

It is a fact that no society in history has ever secured a high level of economic affluence without a government. Where governments did not exist, anarchy reigned and little wealth was accumulated by productive economic activities. After governments took...

DSE turnover crosses Tk 5b-mark

The last trading session of the fiscal year 2014-15 closed higher, extending the gaining streak for the third straight sessions on Tuesday as investors went for buying spree. The market opened higher which sustained throughout the session. DSEX, the prime...

JS passes Tk2.951tr budget

The Jatiya Sangsad passed Tk2.951 trillion (Tk2,95,100 crore) national annual budget for 2015-2016 fiscal year (FY) on Tuesday afternoon. On June 4, Finance Minister Abul Maal Abdul Muhith proposed the Tk2.951tr national annual expenditure before the parliament for passing. Finance...

DSE, CSE up at opening

The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw positive trend in early hour of trading on Tuesday, maintaining the previous day's upward trend. DSEX, the prime index of the DSE, went up by 29.13 points or...

BR to add 169 carriages to its fleet during Eid

Bangladesh Railway (BR) is set to add a total of 169 carriages to its existing fleet to cater to the increased number of passengers before and after Eid, a high official said. All the carriages will be attached with inter-city...

BPC to take $1.0b ITFC loan for fuel import

Bangladesh Petroleum Corporation (BPC) moves to borrow $1.0 billion from the International Islamic Trade Finance Corporation (ITFC) to import fuel oils, officials said, although it makes profit now by cashing in on global price slump. And the government is going...

Jamuna Group applies for Tk 12.50b loan restructuring

Six commercial banks have submitted proposals of the Jamuna Group to the central bank for restructuring large loans amounting to nearly Tk 12.50 billion, officials said Monday. The banks are Janata Bank Limited, United Commercial Bank (UCB) Limited, Dutch-Bangla Bank...

ADB to provide $300m for SME development

The Asian Development Bank (ADB) is set to provide US$300 million as soft loan for development of small and medium enterprises (SMEs) in the country, a high official of central bank said. A high-profile meeting recently among officials from ADB,...

BSC wants to carry entire petroleum import of BPC

The Bangladesh Shipping Corporation (BSC) has sought to be sole carrier of entire petroleum products imported by the Bangladesh Petroleum Corporation (BPC) under freight on board (FoB) system instead of the present cost and freight (C&F) system, officials said. However,...

Mutual funds at a crossroads

If you go to Kolkata and observe closely, you will find quite a few billboards on mutual funds. This is nothing unique. In fact, you are more likely to experience the same thing in most major cities around the world....

Rural sanitation programme makes headway

Okhil Chandra Sen, a traveller by a train, wrote a letter to the Divisional Railway Officer of Sahibganj on July 02, 1909. It was 106 years ago. Allow this writer to reproduce the letter verbatim (courtesy of Sheepa Hafiza, Director,...

Ukraine crisis: War of words cast a shadow over peaceful coexistence

Only three days after Russian President Vladimir Putin said on June 19 that Russia does not claim any "ephemeral superpower status" at the Saint Petersburg International Economic Forum, European Union foreign ministers at a meeting at Luxemburg extended the damaging...

Cabinet clears VAT and Supplementary Duty (Amendment) Act

The Cabinet on Monday approved the Value Added Tax and Supplementary Duty (Amendment) Act. A Cabinet meeting, chaired by Prime Minister Sheikh Hasina, gave the final nod to the amended Value Added Tax and Supplementary Duty Act, 2012, paving the...

Stocks edge higher for 2nd day

Stocks ended for the second running sessions on Monday with turnover crossing Tk4.0 billion-mark again as investors went for buying spree. The market opened with an upward trend which sustained throughout the session amid modest volatility. DSEX, the prime index...

DSE, CSE open optimistic

The prices of most of the shares on the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed upward trend in early hour of trading on Monday, maintaining the previous day’s upturn. DSEX, the prime index of the...

Loan provisioning on MFs relaxed

The central bank has taken a couple of measures to help rejuvenate the country's capital market, officials said. Under the measures, loan provisioning rules on mutual fund (MF) units was relaxed further on Sunday, considering the overall market situation, they...

A few amendments to tax proposals likely

The Finance Bill-2015, set to be adopted in parliament today (Monday), is likely to see some major changes in tax measures proposed originally, including restoration of tax-benefit on fisheries' income and reduction of rates for others.         Finance Minister AMA Muhith...

PMO seeks rationale for setting up industrial dev authority

The Prime Minister's Office (PMO) has asked the industries ministry to prepare a position paper explaining the rationale for a proposed Bangladesh Industrial Development Authority (BIDA), officials said. The ministry of industries (MoI) has also been directed to submit the...

Will the budget help develop productive sectors?

The recent verdict of the International Tribunal for the Law of Sea demarcating 19,467 sq.km of international water of the Bay of Bengal to Bangladesh has given the country an undisputed excess to rich natural resources of the ocean. And...