In praise of Kalbaishakhi

Kalbaishakhi, a tropical storm localised in nature that sweeps across Bangladesh, Bihar, Jharkhand, Odisha, Assam, Tripura and West Bengal has a connotation of something ominous. Kal perhaps derived from 'mahakal' which swallows everything gives a sense of a fateful phenomenon....

Salt farmers sceptical of fair prices despite record production

CHATTOGRAM, Apr 28: Despite record production, salt farmers in Chattogram and Cox's Bazar are concerned about fair prices for their produce. The favourable weather conditions and successful pick seasons have led to a surge in raw salt production, bringing happiness...

Corporates swallowing their linkage industries sinking under tax-loads

Backward-linkage industries making packaging goods for large manufacturers like multinationals and corporates are struggling for survival following 'discriminatory' tax measures on sales turnover, and they urge budgetary relief.The industries, known as 'business to business (B2B)', usually produces primary packaging items...

BSC invites firms to study if it can go big

With larger business and diversification of its services on sight, the Bangladesh Shipping Corporation (BSC) has moved to conduct a study and assess the opportunities in merchant shipping, officials said.The state-run corporation has recently invited an Expression of Interest (EoI),...

General insurance stocks' value dwindles with profit declines

The general insurance sector lost 20 per cent of its market value in the year through April 27 as most of the general insurers posted lower profits for 2022 due to a dent in premium income from the marine insurance...

Protecting farmers from natural vagaries

This is peak Boro harvesting time. Farmers are busy gathering crops manually or in some places mowing with harvesters thanks to a late shift to mechanisation of agriculture. In fact, shortage of farm labourers has long been a problem during...

BBA gets Tk 6.60b toll from Padma Bridge

The Bangladesh Bridge Authority (BBA) collected Tk 6.60 billion as toll from the Padma Bridge since opening of the bridge for traffic. According to the BBA website, it got Tk 1.11 billion toll from the vehicles during the Eid-ul-Fitr holiday...

IMF cold-shoulders corporate-tax cut, tax waiver

The International Monetary Fund (IMF) has advised the revenue authority not to cut the existing corporate-tax rates further in the budget in order to keep revenue mobilization uninterrupted, sources said.In a meeting with the National Board of Revenue (NBR) on...

MF industry: What made it sick and what can help it regain health

The Asset Under Management (AUM) of 36 listed closed-end mutual funds was Tk 57.3 billion as of Monday but the market value was only Tk 37.3 billion, according to BRAC EPL Stock Brokerage.The Tk 20 billion was lost to the...

Biggest ship to ever dock at Matarbari deep-sea port

CHATTOGRAM, Apr 26: A Panama flag carrier ship, Owusu Maru, carrying 63,000 MT of coal from Indonesia has berthed at the Matarbari jetty of the deep-sea port.The Owusu Maru, a 229-metre long and 12.5-metre draft ship, arrived on Tuesday afternoon....

The enigma of poverty reduction

Even in the halcyon days for poverty reduction, beginning from the turn of the century up to Covid-19 outbreak, it was not free from a smidgen of controversy. The Bangladesh Bureau of Statistics (BBS), official spokesperson on the subject, found...

Democracy and the culture of resignation

Democracy is all about decency and ethics in politics. It is about respect for the norms on which pluralism conducts itself. It is about men and women who come into politics conscious of their responsibilities towards those on whose behalf...

Fund crunch to delay start of dev work

Fund crunch is likely to cause delay in the start of development work of the country's prime Dhaka-Chattogram corridor up to Cox's Bazar.The Roads and Highways Department (RHD) under the Ministry of Road Transport and Bridges has taken on different...

BD opens seaports to India on permanent arrangement

Bangladesh has permanently opened its two major seaports — Chattogram and Mongla — for India to use for transit and transshipment of goods in exchange for set charges.Officials said the customs authority under the National Board of Revenue (NBR) issued...

Proposed EU GSP regulation threatens BD economy: EuroCommerce

The safeguard measures proposed in the European Union’s (EU) new GSP regulation would severely affect Bangladesh’s overall economy, according to EuroCommerce – the principal European organisation representing the retail and wholesale sector.It notes that if the proposed rules remain untouched,...

Audit panel by early May to help realise unclaimed dividends from 50 cos

The Capital Market Stabilisation Fund (CMSF) will conduct audits of 50 non-compliant listed securities to realise undistributed or unclaimed dividends amounting to Tk 63 billion.In doing so, an audit panel will be formed with four firms by early May through...

Dramatic rise of Gemini Sea Food on DSE falls short of justification

Gemini Sea Food's stock price almost doubled in a month after it signed a deal with German-based global frozen food trader Lenk. The business deal to supply processed shrimps from Bangladesh is expected to boost income.The perceived future business growth...

Feeling sleepy all day?

Do you constantly yawn during the day, struggle to stay focused, and long for a nap? If so, you're not alone. Many people experience fatigue and drowsiness, but the good news is that there are steps you can take to...

Policy changes shoo away IPO hunters since 2020

More than half of operable BO (beneficiary owner's) accounts had zero share balance and had been used for no share transaction in the secondary market until May 2020. The figure has dwindled gradually over the last three years, thanks to...

Taming the digital genie

Misinformation or false information may be both intended and unintended. Either way, it can mislead people causing harm to an individual, a group, or a community. But disinformation is still worse, for it is misinformation that is deliberately produced and...

Ctg port to remain operational during Eid holidays

CHATTOGRAM, Apr 20: Despite the closure of all government institutions and banks, Chittagong Port, the prime seaport of the country, will continue its operations under special management during the Eid holiday. Omar Faruk, the secretary of Chittagong Port Authority (CPA),...

Gold-laced jilapi, Ramadan's siam and ordinary mortals

A 5-star hotel in Dhaka offered gold-laced jilapi for a few days. Hotels and restaurants in this country have been preparing Bombay jilapi, reshmi jilapi in addition to the common variety of this crisp sweetmeat of two and a half...

Flat 15pc VAT likely to replace multiple rates from FY ‘24

Government's revenue authority has moved to close the scope of levying VAT at multiple rates and keep 15 per cent as a flat rate to be included in product prices, sources said. Once ratified in the budget for the forthcoming...

Market cap-to-GDP ratio increased. What does it translate into?

The Dhaka bourse saw market cap-to-GDP ratio rise by 6.2 percentage points between May 2022 and February this year, mainly because of the listing of new securities.The ratio stood at 19.21 per cent on February 28, 2023, up from 13.01...

Africa, a wounded continent

Two generals, one heading the army and the other leading his own paramilitary force, both allies once, are currently busy destroying the country they share. In these past many days, Sudan has been under brutal assault by its army and...

Synthesising Zakat into Qardan Hasana

Most people face the temptation to borrow money to meet their basic needs. They dream of living in a comfortable house, driving a nice car, or pursuing a higher education. As such, debt financing has become a common practice. Islam...

Refiners seek to raise sugar price again

Refiners have again sought to jack up price of already-pricey sugar by Tk 26 per kilogram, at a time when the sweetener is in high demand during the holy Ramadan festivals.They cited upturn in the price of sugar on the...

Reckitt rebounds from post-pandemic slowdown, gaining 67pc profit growth

Reckitt Benckiser (Bangladesh) PLC posted 67 per cent year-on-year growth in profit to Tk 152 million for January-March, thanks to a significant reduction in net operating expenses.The UK-based multinational company's sales revenue grew 7.22 per cent year-on-year to Tk 1.37...

Is anti-hoarding law a panacea for price control?

The Government of Bangladesh has approved a new anti-hoarding law in a Cabinet meeting on Monday last ( April 10, 2023) to prevent harmful activities in all stages of food production, supply and sales by imposing severe punishments. The law...

Bitter-sweet tales of Eid shopping

"Back in those days, we used to keep an eye on the magazines. Those publications bought out special issues featuring new designs and trends in Eid clothing. We were quite curious to know when the Eid special edition would be...