Inequality, wastage and rational distribution of wealth

History's great teaching is that no one learns from history. Mighty empires rose and fell. Building empires needed extraordinary sacrifice, leadership, vision, shrewdness and pillage. But their fall was largely due to extravagant use of the accumulated wealth and indulgence...

Adopting fiscal measures to face economic shocks

A topic which is rarely mentioned in economic reviews in Bangladesh is that of fiscal policy cyclicality. Leading researchers all around the world have spent years analysing cyclicality of fiscal policy in developed and emerging economies. The issue was recently...

BASIS for reducing paid-up capital

The country's IT firms have urged the securities regulator to reduce 70 per cent paid up capital of the companies willing to go public, officials said. They said the required amount under the Bangladesh Securities and Exchange Commission (BSEC) for...

Dholaikhal in the doldrums as political crisis deepens

Sales at the automobile spares factories in the city's older part plunged after the opposition called the transport blockade in early last month, factory owners said. "We're getting no customers these days. We can't make payment to dockyard owners who...

India eyes US aircraft carrier technology as arms ties deepen

India wants to use state-of-the-art US technology to boost the range and potency of a planned aircraft carrier, defence sources said, in a move that would tie their arms programmes closer together and counter China's military influence in the region....

Kurds dream of independence as they defend perilous border

The black banner of the Islamic State, fixed to a shack within sight of this frontline, is evidence of the existential threat menacing the Kurds from across the 1,000-km long frontier. Kurdish Peshmerga fighters are digging trenches and building defence...

Russia\\\'s nuclear strategy raises concerns in NATO

Concern is growing in NATO over Russia's nuclear strategy and indications that Russian military planners may be lowering the threshold for using nuclear weapons in any conflict, alliance diplomats say. NATO officials have drawn up an analysis of Russian nuclear...

Mahindra Comviva begins marketing of new services

Indian mobility solutions provider Mahindra Comviva has started marketing its new services that will enable the telecom operators to identify requirements of individual cellphone users and accordingly send only need-based SMS to them in Bangladesh. The solutions, officials said, will...

S&P reaches $1.5b deal with US, states over crisis-era ratings

Credit rating firm Standard & Poor's will pay $1.5 billion to resolve a collection of lawsuits over its ratings on mortgage securities that soured in the run-up to the 2008 financial crisis, concluding one of the U.S. government's most ambitious...

US-India nuclear \\\'breakthrough\\\' could be finalised within a year

A "breakthrough understanding" to open India's nuclear power sector to US firms reached during President Barack Obama's visit to New Delhi last month could be finalised this year, Indian officials say. The January 25 announcement by Obama and Prime Minister...

Iran sweetens oil contracts to counter sanctions and price plunge

Iran is sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery. Tehran is...

Complexities bedevil land administration

The Ministry of Lands (MOL) is entrusted with land administration and management, settlement of the government-owned lands (khas), and vested and abandoned properties. The Ministry is responsible for land acquisition, collection of land development tax, and land surveys, and is...

Funds for workers\\\' welfare not a charity

Welfare of workers in Bangladesh has been a low priority issue for long. A large number of business houses in Bangladesh are yet to give the required attention to the welfare of the workers, especially the low-paid segment. Possibly that...

Where price control is not unwanted

What should be the price of a 500 gm Ciprofloxacin capsule at the retail level? Major drug manufacturers in the country have priced a piece of the item at around Tk.15. However, a number of little known companies are selling...

MoF told to provide funds for bearing extra costs of policing

The Prime Minister's Office (PMO) has issued a directive to the ministry of finance (MoF) to provide necessary allocations to meet the extra costs of the country's key law-enforcement agencies urgently. The PMO has sent a letter to the senior...

BB, customs to check final disposal

Final disposal of seized gold and foreign currencies will be jointly scrutinized by the customs and the Bangladesh Bank (BB) in a bid to resolve confusion over proper depository of the smuggled items. The National Board of Revenue (NBR) has...

Govt assures bus owners of strong escort in north

Although a latest petrol-bomb attack on a bus caused a bizarre tragedy and stoked up fears, inter-district bus owners decided to increase their services on six northern routes at government's strong escort assurance from today (Wednesday). Transport operators said at...

Rights of the people and responsibilities of govt

It is not surprising to see that violation of human rights is extensively found in many countries even in the 21st century when the human civilisation is believed to have reached its pinnacle. From the primeval time to the present,...

Access to land is inequitable

Land inequality remains a problem in Bangladesh and is exacerbated by elite land grabs and the inadequate capacity to execute legislation on land ownership ceilings.  The land situation in Bangladesh is marked by three major characteristics: (i) very high population...

Growing inequality in rural incomes

In a repeat survey, sample households were ranked on the scale of per capita income and income-shares of successive decile groups were estimated to assess the nature of distribution of income. The income distribution was fairly unequal. In 2008, the...

Compounding woes of investment

It is becoming increasingly clear that the dark clouds of uncertainty hovering over the country's investment scene have further intensified. Investment volume which had been far below expectation in recent years due to lack of infrastructural facilities like gas and...

BB buys US$102m from banks directly

The central bank has expedited purchase of the US dollar from the banks to keep the market stable despite lower demand for the greenback due to the ongoing political unrest. As part of the latest moves, the Bangladesh Bank (BB)...

Dozen more border haats under study

The government is scrutinising a proposal of opening 12 more border haats (border markets) with neighbouring India aiming to boost bilateral trade between the two countries, officials said Tuesday. Presently, three such markets are operating, with the third one being...

Blockade brings blessings to private airlines

Private airlines are making windfalls as businessmen and corporate professionals avoid roads and railways for domestic travel, fearing the violence of deadly blockade, officials said.    The officials said 95 per cent tickets of most of the carriers have already been...

Some counter-terrorism efforts in Yemen \\\'frozen for now\\\'

The United States has halted some counter-terrorism operations against al Qaeda militants in Yemen following a takeover of the country by Iran-backed Houthi rebels, US officials have said. The collapse of the U.S.-backed government of Yemen on Thursday left America's...

Rouhani accuses Iranian hardliners of ‘cheering on’ other side in atom talks

Iranian President Hassan Rouhani, growing frustrated with hardline resistance to a nuclear deal with the West, has accused opponents of effectively "cheering on" the other side in Tehran's gruelling negotiations with world powers. Soon after his 2013 election victory over...

Oil price plunge should prompt new fuel taxes in Asia

One worthy side-effect of the plunge in crude oil prices is that several Asian governments have ended costly fuel subsidies, but it's time to go further and impose higher taxes. The 58 percent drop in Brent crude since June last...

Indian economic growth revised up by almost 50pc

India's economy grew almost 50 per cent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers. In the year leading up to...

Tk 79b income tax stuck up as disputes await resolution

The government's efforts to expedite disposal of income tax-related disputes involving a sizeable volume of revenue are yet to produce any tangible results.   The rate of disposal of income tax-related pending cases remained poor during the last few years largely...

BB, NBR start executing electronic import LCs

Bangladesh Bank (BB) and National Board of Revenue (NBR) have established an integrated automated system to check capital flight and tax evasion through strengthening monitoring and supervision on foreign trade. Both the government agencies started implementation of electronic letters of...