Govt yet to reply

The government is yet to reply to a High Court (HC) rule on making legal framework for the Shariah-based banks and financial institutions, lawyer concerned said. Almost 10 months ago, the HC issued the rule asking the government to explain...

Hidden cost passed on to commuters

Commuters will have to bear at least 30 per cent of the fares proposed for the new taxicab service in Dhaka city as 'hidden cost' and loss on account of traffic jams. The picture emerges after assessment of different charges...

China calls on US to restrain Japan as tension simmers

China called on the United States this week to restrain ally Japan and chided another US ally, the Philippines, at the end of talks between American and Chinese defense chiefs that showed the strain of regional territorial disputes on Sino-U.S....

Afghanistan\\\'s surprises in presidential election

Despite Taliban threats to attack polling stations nationwide, the same percentage of Afghans turned out to vote - roughly 58 per cent - as did Americans in the 2012 U.S. presidential race. Instead of collapsing, Afghan security forces effectively secured...

DSE turnover dips below Tk 5b-mark

Stocks ended another flat session Thursday with turnover on the prime bourse dipped below Tk 5.0 billion-mark as investors remained cautious.The prime index of the Dhaka Stock Exchange (DSE) --- DSEX--- ended at 4,592.73 points, losing 1.59 points or 0.03...

Positive trend at DSE, CSE

Share prices on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) witnessed positive trend in early hours of trading on Thursday, the last trading session of the week. DSEX, the prime index of the DSE, went up by...

Ban on six generic drugs suggested

The recommendation for banning six generic drugs in the local market made by the Adverse Drugs Reaction Advisory Committee (ADRAC) is now awaiting the Drug Control Committee's decision. Several experts in their opinion said although the director general of the...

Govt mulls subsidy for exporters of agro-processing products

The government is now mulling providing cash subsidy also to exporters of agro-processing products as is enjoyed by the existing manufacturer-exporters of such items, officials say. The government has taken an initiative to this end to enhance exports and expand...

Govt finalises progress report on Action Plan next week

The government will finalise the progress report on 'Bangladesh Action Plan 2013' on April 13 before sending it to the United States Trade Representatives (USTR) by 15th of the current month in a bid to regain a suspended trade facility...

Pakistan opposition to challenge new anti-terror law in court

Pakistani opposition parties are planning to challenge a sweeping new anti-terror law in court, politicians said this werek, because they fear it will legalize human rights violations. The Protection of Pakistan Bill was passed late on Monday amid protests from...

Man and myth collide as Modi eyes final ascent to power

Narendra Modi spent his childhood in a modest three-room dwelling made of mud and brick nestled in a narrow, crowded lane in the western Indian town of Vadnagar. The tea stall his father ran with the help of his sons...

Ensuring economic security

Threats to economic security of Bangladesh emanate from both internal and external sources. Internal insecurity comes mainly from massive poverty and while the external one originates mainly from the process of globalisation. Substantial dependence on external assistance and smuggling also...

Jewellery shops thrive on smuggled gold

There are about 20/22 thousand jewellery shops in Bangladesh. Daily sale in these shops is estimated at Tk 200 million. Surprisingly, no gold is imported through letter of credit. Expatriate Bangladeshis can bring 200 grams of gold each while returning...

Tackling the menace of gold smuggling

Judging by the avalanche of gold flowing into the country, the euphemism 'Sonar Bangla' seems to be crystallising into reality! Every other day the media carries news of big hauls of gold bars and coins intercepted by the law-enforcement agencies...

The end of an era

Mr. ABM Musa is no more. He breathed his last on Wednesday (April 09, 2014) at the Labaid Hospital in the city. His death has not come as a bolt from the blue. As the news of his death was...

The challenges of time present

"Time past and Time Present", wrote T.S. Eliot, are one at time future. Whether this will be the case in Bangladesh is a trillion dollar question. For Bangladesh April 2014 is really another time. The past is gone, as it...

News Brief

Tarek Elba, Chief Executive Officer of Lafarge Surma Cement Ltd has been elected as the president of the France-Bangladesh Chamber of Commerce & Industry (CCIFB) for the year 2014-15 & 2015-16. The CCIFB elected its new President and the Executive...

Stocks edge marginally higher

Stocks edged marginally higher Wednesday amid volatile trading throughout the session with turnover declined slightly as investors traded cautiously. The prime index of the Dhaka Stock Exchange (DSE) --- DSEX-- ended at 4,594.33 points, gaining 7.42 points or 0.16 per...

DSE up, CSE down at opening

Share prices on the Dhaka Stock Exchange (DSE) witnessed positive trend while Chittagong Stock Exchange (CSE) saw negative trend in early hours of trading on Wednesday, the fourth trading session of the week. DSEX, the benchmark index of the DSE,...

Bourses : Old practice and new perception

Good sense, as it seems to be the case now, has started dawning on the key management functionaries of the country's premier bourse, the Dhaka Stock Exchange (DSE), as far as its operations are concerned. Briefing the media about the...

Foreigners can invest in T-bonds using NITA

The government has relaxed regulations, allowing foreigners to invest in its treasury bonds by using Non-Resident Investor's Taka Account (NITA), officials said. Under the relaxations, the purchase is made with funds of a Non-Resident Foreign Currency Account (NFCA) or a...

Energy shortage hits manufacturing sector

Short supply of energy -- both power and gas -- is taking its toll on production in the country's manufacturing sector, industry insiders and businesses say. According to them, production in many manufacturing units is now well below their capacities...

Govt offers tax benefit to world-class hotel investors

The government has offered tax benefit to lure investment in world-class hotels by allowing the investors to import capital machinery at a reduced rate of Customs Duty (CD). The National Board of Revenue (NBR) has set 5.0 per cent CD,...

Traders raise Hilsa prices cashing in on Pahela Boishakh gaiety

The prices of Hilsa fish have increased in retail markets in the city ahead of Pahela Boishakh, the first day of Bengali New Year. Customers allege that sellers in the market are raising the prices as they want to take...

Local CFL bulbs struggle to stay in race with imports

Local manufacturers and assemblers of compact fluorescent light (CFL) bulbs are facing a stiff competition with the importers for lack of policy support to the testing and certification regulatory body concerned and poor surveillance, industry insiders said. They said the...

Concern over quality as Tk 7.60b jute goods stockpiled in mills

The quality of jute goods worth about Tk 7.60 billion, manufactured by different jute mills, is at risk, as those are remaining stockpiled at the mills concerned due to a fall in export on sagging demand in the international markets,...

Challenges for the new banks

Over the past decade, Bangladesh economy enjoyed favourable economic environment and grew at approximately 6.0 per cent with tolerable inflation. Major economic indicators like gross domestic product (GDP), exports and imports have tripled in the last ten years; industrialisation and...

DSE turnover crosses Tk 6.0b-mark

Stocks edged lower Tuesday, a day after positive trend with turnover crossing Tk 6.0 billion-mark as investors booked marginal profit in later part of the trading session.The market opened with a positive note, but could not sustain. At the end...

Stocks see upward trend at opening

Share prices on the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed positive trend in early hours of trading on Tuesday, the third trading day of the week. DSEX, the prime index of the DSE, went up...

Import tariff hike likely to make sugar costlier

The latest hike in import tariff of sugar, an essential commodity, might push up its price in the domestic market ahead of Ramadan, retailers have expressed the fear. But the customs authorities have ruled out any significant impact on retail...