Finance set to adopt World Bank's model in making fiscal forecasts

The Ministry of Finance is set to adopt a new, more dynamic and realistic model than the current one for fiscal forecasts, according to officials. The Macro-Fiscal Model (MFMod), developed by the World Bank in 2019, will be utilised for...

Protection Fund left unused even in the decade after demutualisation

Victims of embezzlement of stock brokers have not received any benefit from the Investors' Protection Fund of the Dhaka Stock Exchange (DSE) even after it was brought under the demutualisation scheme in 2014. The fund has been left unused and...

A new menace – Russel's viper

The incident of Zahid Pramanik, a peasant of the Pangsha upazila in Rajbari district, being bitten by a Russel's viper (the snake's Bengali name is Chadrabora) and then saved following treatment at a Kushtia hospital, was recently reported in the...

Edible oil refiners seek price hike despite global mkt dip

Bangladeshi edible oil refiners have urged the government to increase prices amid a decline in the international market, leading authorities to consider reducing prices in the local market.On July 6, the Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association wrote...

SME stocks surge again on the back of market weakness leveraged

SME market soared 312 points, or 28 per cent, in the month to Sunday amid an influx of investors chasing SME shares once again in anticipation of quick gains.During the time, the main market slid 3 points against the backdrop...

Fossil fuel vs renewable energy

Wael Sawan, chief executive officer (CEO) of Shell PLC, a giant oil company, has warned that slashing oil and gas production at this stage would be 'dangerous and irresponsible' as it would trigger soaring energy bill again. This in its...

Stopping flight of capital

Two reports related to foreign exchange were published in the Saturday's issue of this paper on the first page. The first report was about sale of US dollars (USDs) by the central bank, the Bangladesh Bank (BB). It said the...

Colombo still undecided about when to repay

Sri Lanka is unable to repay foreign loans, including Bangladesh's $200 million credit, right away as the island nation is still struggling with its ailing economy, according to a senior Lankan minister."Still, it's not decided when we're going to repay...

Downgrading to 'Z' pushes three companies to top of loser list

Since losing their 'A' category status, three non-performing companies saw their steep price fall, becoming the top losers of the last week on the Dhaka Stock Exchange (DSE).Additionally, three other companies that are still in the 'B' category faced the...

Kalurghat Bridge repair may start this month

CHATTOGRAM, July 07: Bangladesh Railway (BR) is likely to start renovation work of the old Kalurghat Bridge over the Karnaphuli this month. BR has taken initiative to renovate the century-old bridge again to facilitate train service on Dhaka-Cox's Bazar route,...

MNOs set to launch SIM-locked handsets

The country's mobile network operators (MNOs) are set to hit the market with SIM-locked handsets for expanding mobile penetration and maximum utilisation of 4G technology in the industry, according to insiders.The Bangladesh Telecommunication Regulatory Commission (BTRC) sent a letter containing...

Demand soars amid power outages

With the power-supply situation getting worse in the countryside, people are increasingly buying solar home systems (SHSs) to illuminate both their homes and business points.The countrywide expansion of the national grid, according to stakeholders, to bring 100-percent people under grid-power...

Investors alerted about disguised MLM frauds

Many multi-level marketing (MLM) companies and similar entities are running nationwide in breach of regulations, thus endangering investors and undermining the country's economic management, according to an official finding.Without valid licences, these companies employ false promises of substantial earnings and...

Need for limiting screen time has become overriding

No other electronic device has perhaps impacted life more than the smartphone has done. When the earliest version of cell phone came to the market for public use, neither its size and cost was appealing. Also it had limitations. Gradually...

Dhaka, Ctg bourses ordered to explain failure in reporting on Z cos

Both the stock exchanges have not reported to the securities regulator on operations of Z category companies, ignoring a 2020 order that was aimed at turning the firms into profitable entities. The Bangladesh Securities and Exchange Commission (BSEC) has demanded...

Negotiating pulls behind brain drain

In a question-answer session in parliament, Prime Minister Sheikh Hasina stated on Wednesday that in this age of globalisation, prevention of brain drain is a difficult task. She elaborated further by observing that brain drain was a continued process from...

New firm reg down 20pc YOY amid economic turbulence

The registration of new firms in the country declined by 20 per cent year-on-year to 10,738 in the just-concluded FY23, according to official figures, reflecting the prevailing economic downturn both at home and abroad. This downward trend follows a peak...

eKpay to be introduced on Meghna and Gumti bridges next week

In a move to popularise electronic toll payment in all toll bridges and highways in the country, payment platform eKpay will be introduced on a pilot basis in Meghna and Gumti bridges next week.Officials said all eKpay users can pay...

ISR module in Islamic banking

Islamic banking in Bangladesh has two modules for profit distribution to Mudaraba depositors. One is weightage-based and the other is Income Sharing Ratio or ISR module. The former was introduced at the beginning of Islamic banking in Bangladesh in 1983....

Of respect, remarks and refinement

A day after US Secretary of State Antony Blinken returned from a much-publicised visit to China and a meeting with President Xi Jinping, the hope which had been raised about a cautious improvement in ties between Beijing and Washington was...

BEZA unable to repay govt debt now, seeks five years time

The Bangladesh Economic Zones Authority (BEZA) has said it is unable to repay government debt with interest and has instead requested an additional five years to do so, according to officials. According to sources, BEZA currently owes Tk 1.31 billion...

Foreign trade to pass thru hi-tech single window

Time and cost of trade are expected to shrink for paperless processing of exports and imports to pass through a hi-tech single window under a World Bank-aided project. Dubai-based Webb Fontaine Group will implement the project worth Tk 5.85 billion...

Clients of 15 brokers suffer as DSE searches for remedy after DP licence suspension

Latif Securities and its clients have been unable to make any share transaction since May 25 as the securities regulator cancelled the broker's DP (depository participant) license for fund shortage in its consolidated customer account (CCA).Without a DP licence, a...

Ship carrying 65,020 MT coal dock at Matarbari deep sea port

CHATTOGRAM, July 04: A Cyprus flag-carrier ship MV LMZ Atlas loaded with 65,020 metric tonnes (MT) of coal berthed at the Matarbari jetty of the deep sea port on Tuesday. The 229-metre-long and 12.5-metre-draft ship came from Indonesia. This is...

Call to allow ethanol-blended petrol on success in India

The Bangladesh High Commission in New Delhi has suggested the government explore the possibility of introducing ethanol-blended petroleum in Bangladesh following India's success in achieving a 10- per-cent target of ethanol-blended petrol. The High Commission has requested the government to...

Trial run of metro rail likely on July 07

Dhaka metro rail is ready to run a test on the mass rapid transit (MRT) line-06 from Agargaon to Motijheel this week, signalling the second part's operation within months.Sources said the Dhaka Mass Transit Company Limited (DMTCL) has given a...

Inactive users bring DSE app subscriptions down 40pc in FY23

DSE mobile app users declined 40 per cent year-on-year to 46,622 in FY23 amid the suspension of registration of new subscribers as registered users became inactive in the bearish market. Alongside the number of subscribers, transactions through the app also...

Killing of Nahel in Paris

June 27's incident of police shooting in France that led to the death of a 17-year-old boy of North African origin has triggered a series of violent street protests across France that continued for the fifth day on Sunday. The...

SASEC-2 project set for 2nd revision

The South Asia Subregional Economic Cooperation (SASEC) project-2, which involves widening the Elenga-Hatikamrul-Rangpur highway, is set to undergo revisions in both cost and deadline to accommodate several design changes.The Roads and Highways Department (RHD) has already shared the proposed modifications...

Green chilli still red-hot despite import

Volatility persists in the green chilli market due to slow progress in imports and a significant decline in summer crop production, leading to retail prices of Tk 500-800 per kilogram in the city on Sunday.Since June 26, when the agriculture...