Banking sector faces an unsavoury situation

The current state of affairs in a number of banks can be interpreted as unsavoury. The central bank is reported to have identified 15 banks where credit growth rate has hit a negative mark. This situation, as reports quoting a...

Move to issue legal notice for relocation disappoints tanners

Tanners have expressed their disappointment over the Industries Minister's decision to issue legal notice to tannery owners in the capital's Hazaribagh for not relocating their industrial units within the stipulated time. They said such a decision is not fair as...

Funds crunch impedes BJMC\\\'s jute procurement drive

The jute procurement drive of different mills under Bangladesh Jute Mills Corporation (BJMC) is facing a setback due to shortage of necessary funds, officials said. They said the state entity needs Tk 4.0 billion urgently to continue the jute procurement...

Day care centres for babies of poor working mothers

Poor working mothers need day care centres for their children during working hours so that they can do their work smoothly. Though populous Dhaka city has not adequate day care centres for poor mothers, some existing centres proved effective to...

In defence of tradition and culture

Without enough money at disposal and leisure, fine art is but a hapless orphan. Even culture developed through centuries makes demand on spare times and to make the process complete some spare money too is badly needed. At a time...

Capital base of banking sector rises by 2pc

Capital base of the country's banking sector increased by nearly 2.0 per cent in the third quarter of this calendar year despite a large shortfall in some 'badly-managed' banks, particularly state-run ones. Total eligible capital, generally known as actual capital...

CIC collecting bank account info of NBR chief, his wife

The tax intelligence wing has started collecting bank account information of the National Board of Revenue (NBR) chairman Ghulam Hussain and his wife. The Central Intelligence Cell (CIC) under NBR asked the country's commercial banks Thursday to furnish bank account...

Bank accounts of influentials to come under special watch

The government has moved to keep bank accounts of the country's influential persons under watch in line with the new standard of Financial Action Task Force (FATF), official sources said. The issue is going to be incorporated in the circular...

Outlining road safety in Bangladesh

As the editor of this research book says, "Road accidents are the new epidemic sweeping across much of the developing world". With its rapid urbanisation and exponential growth of transport networks, safety on the roads has emerged as an inescapable...

Russia\\\'s stakes in Ukraine

The Ukrainian crisis has become a focus of attention in the world today. It is an ongoing European crisis involving Russia and Ukraine. The Supreme Council of Crimea and the City Council of Sevastopol unilaterally declared Crimea as an independent...

Modern slavery: An affront to civilisation

The Global Slavery Index 2014, announced on Monday last, presents a dismal picture for South Asia. Of the 35.8 million people enslaved worldwide, 23.5 million live in Asia. Of the Asian total, India's share is the largest with 14.2 million...

Central banks through the ages - II

There are at least three other roles of central banks that are less considered. One is the distributive role of central bank policy. Central banks' policies can have differential impacts on different classes and groups: workers and capitalists, debtors and...

BG Press digitisation still a far cry

Despite strong and repeated demands from the education boards, no move for digitalisation of the state-owned printing press is visible yet, leaving the question paper leakage issue neglected. "There is no move visible for automation of the Bangladesh Government Press...

Iran to resist \\\'excessive\\\' demands in push for nuclear deal

Iran said it would resist Western pressure to make what it considered to be excessive concessions in nuclear talks that started on November 18, highlighting obstacles that could prevent a historic deal being reached by a Nov. 24 deadline. US...

Under Modi, Israel and India forge deeper business ties

At the U.N. General Assembly in New York last September, Israeli Prime Minister Benjamin Netanyahu set aside time for a critical meeting. But it wasn't President Barack Obama he was keen to see. It was Indian Prime Minister Narendra Modi....

Hackers to probe cyber crime defences at British banks

In the next few months hackers will try to penetrate the cyber defences of Britain's major banks and steal information about millions of customers. But for once they'll be welcome. Banks are on red alert after cyber criminals obtained details...

Stocks slip into red amid sluggish turnover

Stocks slipped in the red again today (Thursday) after previous sessions’ upturn amid sluggish turnover as investors followed cautious stance. The market opened with a positive mood, but could not sustain as the session progressed. DSEX, the prime index of...

DSE up, CSE down

The Dhaka Stock Exchange (DSE) witnessed positive trend while the Chittagong Stock Exchange (CSE) saw negative trend in early hours of trading on Thursday amid see-saw, the last session of the week. DSEX, the prime index of the DSE, went...

Tk 5.0b more sought for Dk-Ctg 4-lane highway work

The Roads and Highways Division under the ministry of road transport and bridges (MoRTB) has sought Tk 5.0 billion more for implementing the limping four-lane Dhaka-Chittagong highway project, officials said. A request letter seeking additional funds beyond the current budget...

Rice export to Sri Lanka starts soon

Rice export to Sri Lanka will start soon as the Ministry of Commerce (MoC) has amended the Statutory Regulatory Order (SRO) -- a hurdle in the way of the country's move to shipment of food grain, officials said. The export...

Package measures taken to attract FDI

The government has taken a set of proactive measures, including cutbacks on tax and easy residency, to attract foreign direct investment (FDI) into the country, sources said. The Board of Investment (BoI), in an inter-ministerial meeting recently, made the decisions...

MoF asks SoEs afresh to offload shares soon

The government has issued a fresh reminder asking the state-owned enterprises (SoEs) concerned to offload their shares in the capital market without further delay, officials said. They said the Ministry of Finance reminded the relevant SoEs of the earlier directive...

The winter blues and joys of life

It is not possible for a Bangladeshi to imagine how punishing it is to walk on a road with temperature dropped to 13 degrees Fahrenheit (which is minus 10.55 degrees centigrade) unless he or she has lived here in chilly...

Debate on shrinking farmland

There is still a debate whether or not Bangladesh has already attained self-sufficiency in food grain, especially in rice. Government statistics (as well as rhetoric) claim that Bangladesh has already attained self-sufficiency. This is, undoubtedly, a piece of good news...

Central banks through the ages — I

Sweden is known as the first country to have established the central bank, followed by England, France, Germany and others in North America, South America, Africa, Asia and in the Middle East. Originally, financing the war was the objective and...

India readies new steps to curb surge in gold imports

India is likely to announce new measures to curb gold imports, a senior finance ministry source said, and they could include restrictions on a group of private trading firms that have been allowed to bring in the precious metal. Shipments...

Saudi oil policy uncertainty unleashes conspiracy theorists

If Saudi Oil Minister Ali al Naimi wants to stop conspiracy theories spreading before a crucial OPEC meeting next week, it's too late. Naimi's intervention last week after a two-month silence failed to address a question energy markets want answered:...

Comet team detects organic molecules, basis of life on Earth

European comet lander Philae 'sniffed' organic molecules containing the carbon element that is the basis of life on Earth before its primary battery ran out and it shut down, German scientists said. They said it was not yet clear whether...

Stocks return to green amid low turnover

Stocks returned to the green Wednesday after four sessions’ fall as investors took position on lucrative price level stocks. The market opened with a positive mood which sustain till the market closure. DSEX, the prime index of the Dhaka Stock...

DSE, CSE open positive

The prices of most of the shares at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) saw positive trend in early hours of trading on Wednesday, the fourth session of the week. DSEX, the prime index of the DSE,...