Of financial crimes and toothless tigers

The Central Bureau of Investigation (CBI) of India on August 02 night arrested the chief executive officer (CEO) of a state-run bank from southern city of Bengalore along with 11 others, allegedly, for taking bribes in exchange for loan extensions...

Govt bank borrowing surges in recent weeks

The government's net borrowing from banking system surged in the recent weeks due mainly to release of Padma Bridge construction funds and disbursement of export subsidies, officials said. Its net borrowing from banking system shot up to Tk 70.52 billion...

A review of the Monetary Policy Statement

Like every half-a-year, Bangladesh Bank (BB) has recently announced the monetary policy statement (MPS) for the first half of the FY 2014-15 (July-December 2014). It has mainly focused on restraining inflation. Current monetary stance has targeted the monetary growth path...

Golden voices of a golden era

The 34th death anniversary of Mohammad Rafi, one of the all time great singers of the sub-continent, was observed in a sombre mood on July 31. Then on August 4, came the 85th birth anniversary of another classic singer Kishore...

Revenue earning from DSE dips 46 per cent

The government revenue earnings from the Dhaka Stock Exchange (DSE) fell 46 per cent month-on-month in July amid reduced trading hours and weak volumes owing to the occasion of Ramadan. The government bagged tax worth Tk 65.20 million in July...

JICA funds likely for widening, renovating 200 bridges

Japan has hinted at financing a bridge improvement project to widen and renovate nearly 200 bridges in the country's western zone. The fund will help the government fine-tune those with its future plan of turning four-lane national highways, officials said....

Philippines to propose no action to raise tension in sea disputes

The Philippines will propose a freeze on all activity that raises tension in disputed waters in the South China Sea as part of a three-part plan at a regional security meeting next month, Manila's foreign minister said this week. Southeast...

Maliki orders air force to help Kurds against the Islamic State

Iraq's Prime Minister Nuri al-Maliki ordered his air force for the first time to back Kurdish forces against Islamic State fighters after the Sunni militants made another dramatic push through the north, state television reported this week. Kurdish peshmerga fighters,...

China denounces US tech \\\'pawns\\\' as cyber espionage spat deepens

Chinese state media have launched a publicity offensive against Google and other US technology companies as a spat with the US over cyber espionage coincided with the 25th anniversary of the Tiananmen Square massacre. Google's traffic in China has slowed...

WTO failure points to fragmented future for global trade

India has dealt a potentially fatal blow to the World Trade Organization's hopes of modernizing the rules of global commerce and remaining the central forum for multilateral trade deals. In the short term, this is a setback for freer commerce....

Will Europe\\\'s banking \\\'big bang\\\' loosen lending?

In the biggest advance in European integration since the launch of the euro in 1999, the European Central Bank will take charge of supervising banks from Helsinki to Lisbon in November after subjecting their books to unprecedented scrutiny. The aim...

Stocks close flat amid choppy trading

Stocks closed flat in the green Tuesday after previous day’s hefty gains with turnover declined slightly as late-hour profit booking wiped out most of early gains. The market started with a positive note, gaining 35 points within first 40 minutes...

DSE, CSE start on positive note

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

Amend VAT law instead of replacement : FBCCI

The country's apex chamber body has urged the government to amend the existing Value Added Tax (VAT) law, instead of replacing it with a new one, following successful enforcement of the current one since 1991. The chamber body has alleged...

China, Japan investors to enjoy better business ambience

Investors from China and Japan are likely to enjoy better business environment in Bangladesh following comprehensive partnership that helps the countries boost trade and commerce in a win-win situation. Analysts hold such high hopes over the latest developments on the...

Some new drugs to be included in controlled price list

The government has planned to include some new generation drugs in the controlled price list as currently many decontrolled drugs are becoming unaffordable to the people, sources said. Considering the public health and price affordability, the government listed 117 drugs...

Political economy of public accounting oversight: A review

This article deals with the public accountancy (audit) profession. It has summed up a review of literature on how public accountancy has emerged as a highly prestigious profession and positioned itself as a critical component of the market economy. Self-regulated,...

Video banking: A facilitator in banking

Of late, it has been realised that business expansion through setting up concrete structures is no more a viable business strategy and not efficient either. In every industry, e-commerce is revolutionising the way business is conducted. New business models are...

Moving up the global innovation ladder

In the Global Innovation Index (GII)-2014 Switzerland is the leader for the fourth consecutive year. The United Kingdom moves up by one rank to the second place, followed by Sweden. A new name among the top 10 this year is...

Thailand: Junta consolidating power and talking about reform

Thailand's military junta has indicated that elections in the country may take place late next year and a transitional government is expected to be formed within the next few weeks. The armed forces in the country took power on May...

New products to help increase turnover of stock market

The premier bourse will introduce new products to help increase turnover of the capital market. The new products-- exchange traded fund (ETF), derivatives and options-will also bring diversifications in the capital market.  "We will introduce the new products to successfully...

Majority of microlenders defying MRA rules on mandatory liquidity provision

Most of the microfinanciers operating in the country are not complying with the mandatory liquidity fund against deposits provision of the Mirco-credit Regulatory Authority (MRA), officials said. Under section 34 of the MRA Rules of 2010, (1) "Every micro-credit organisation...

Modi offers Nepal $1.0b loan in regional diplomacy push

Prime Minister Narendra Modi offered Nepal $1.0 billion in concessional loans to help build power plants and roads during a visit on Sunday aimed at shoring up support in a region where China is making inroads. Both India and China...

Islamic State seize control of Iraqi dam and oilfield

Islamic State fighters seized control of Iraq's biggest dam, an oilfield and three more towns on Sunday after inflicting their first major defeat on Kurdish forces since sweeping across much of northern Iraq in June. Capture of the electricity-generating Mosul...

DSE turnover hits 3-month high

Turnover on the Dhaka Stock Exchange (DSE) hit a three-month high on Monday as investors went for buying spree on large cap stocks amid optimism. The total turnover on DSE stood at Tk 5.60 billion, registering an increase of 30.84...

Positive trend at DSE, CSE

The prices of most of the shares on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) rose in the first 30 minutes of Monday’s session, the second trading day of the week. DSEX, the prime index of the DSE,...

CPA cancels deal with Malaysian co on Karnaphuli dredging

The deal with Malaysian Maritime and Dredging Corporation (MMDC) on capital dredging and bank protection of the Karnaphuli River has been cancelled for the foreign firm's repeated failure to implement the project, vital for operation of the Bangladesh's main seaport,...

BB gives cues for remittance fall

The central bank has identified the spending of a substantial amount on the renewal of work permits by many Bangladeshis in Saudi Arabia, the job market squeeze in Qatar and the closure of bank accounts of small money-transfer companies in...

BCIM corridor to top agenda as leaders meet in October

Business leaders of BCIM countries will push for finalising the establishment of economic corridor as they meet in Dhaka in October to boost regional trade and investment, officials said. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will...

BTRC will conduct study soon to know actual volume of illegal VoIP calls

The telecom regulator is going to conduct a comprehensive study soon to find out the actual size of illegal VoIP (voice over internet protocol) call termination in the country, sources said. The decision was taken recently following the recommendations made...