Putin quickens tax cuts to revive oil flow

FT Syndication ServiceMOSCOW: Russia's government took its first steps late last month towards $4.0bn of tax cuts to boost investment in the oil industry, amid warnings the country's output could fall for the first time in 10 years.Vladimir Putin, the...

Tk 318m modernisation fund to keep BPO in race

The government has provided a fund of Tk 318 million (31.8 crore) to computerise the country's postal services, faced with a tough competition from the private sector, an official of the Bangladesh Post Office (BPO) said Saturday.The Executive Committee of...

Probe into causes of money market volatility starts

The central bank has started investigating the causes of volatility in the country's money market despite a large flow of fresh fund through buying back of government securities and repo auctions, officials said.The Bangladesh Bank (BB) is scrutinising deposit/advance ratio,...

MTN plans reverse takeover of Reliance

FT Syndication ServiceMUMBAI: South Africa's MTN is considering a reverse takeover of India's Reliance Communications as part of talks to combine the pair and create an emerging markets telecoms giant, people familiar with the matter said.The proposal would follow the...

Why not approve women development policy for implementation?

A lot has been said in seminars on national women development policy-2008. An impact is awaited. Has it stirred women and men in different strata of society, and helped mobilise public opinion at the grassroots?The rightist parties lost no time...

Reduction of registration charge, tax cut and holiday facility sought to boost real estate business

The country's realtors have sought reduction of flat registration charge, tax cut and holiday facility in the upcoming financial bill so that they can build cheaper residences outside the capital, a senior official said Sunday.Apartment businesses in the country marked...

Making tax laws work better

IT has been observed while assessing income of banking companies by the tax officials in respect of bad-debt, written-off claim for deduction from income, the tax officials refuse to allow the claim of bad-debt written off. This is done on...

commodities digest

behind price risesALGIERS, June 1: OPEC president Chakib Khelil again blamed speculators for the steep rise in oil prices Saturday, insisting that supply was not a problem. "There is no problem of supply, the problem is much more linked to...

Oil has reached a turning point

Oil Prices at this level take us into a new world -- "Break Point" -- where the question "is not only "how high can the price go?", but also "what will be the response?" Is this the point at which...

BB asks banks to make timely payment of export bills

The central bank has asked the commercial banks to make timely payment of export bills to help local exporters strengthen their business activities, officials said.The central bank took the move against the backdrop of financial crisis faced by local exporters...

Railway's glorious past and present

The government-owned Bangladesh Railway (BR), whose origin can be traced back to the British period in this region, is presently a neglected mode of transportation. But it could retain its previous position as the more sought after means of transporting...

For a solution to Dhaka's traffic congestion

WHEN the population of a mega city exceeds its acceptable limit, the traffic congestion is an obvious result. It happened in many cities. Dhaka is no exception. We would see this in many other cities as well.In 1856, England had...

city events

camp beginsA month-long bodybuilding training camp, organised by Bangladesh Bodybuilding Federation (BBF), began at the NSC gymnasium in the city Sunday. National Sports Council (NSC) director M Haiyul Qayyum inaugurated the training camp in the morning. BBF Vice President and...

GP, Huawei sign $600m deal for network expansion

The country's largest mobile operator Grameenphone, the Bangladesh subsidiary of Norwegian Telenor, has assigned the global telecommunications network solutions giant Huawei to develop its infrastructure at a cost of $600 million, a senior official said Sunday.In this connection, the official...

Of gross profit and tax exemption ceiling

"It is a progressive tax system. Income tax is imposed on the basis of ability to pay. The more he earns the more he pays as income tax. It ensures the equity and social judgment", reads the first paragraph of...

Al-Jazeera English tackles staff disquiet

FT Syndication ServiceDOHA: Al-Jazeera's English-language television news channel has given its new managing director what looks like an ambitious make-or-break mission.Dogged by dissatisfaction and high-profile defections, the Qatar-based international news service has been haemorrhaging staff. Tony Burman, a former editor...

Only a few Z-category cos recast board of directors

Only a few of the 98 Z-category listed companies complied with a Securities and Exchange Commission's (SEC) directive on recasting their board of directors until Thursday last, the deadline of which expires Tuesday.Mona Food has already reconstituted its board of...

BTTB revenue earnings miss target by 19pc in 10 months

Revenue earnings of the Bangladesh Telegraph and Telephone Board (BTTB) fell short of target by 18.82 per cent in the first ten months of fiscal 2007-08, officials said Saturday.It, however, grew 9.20 per cent in July-April period over the collection...

B'desh set to emerge as next global footwear making hub

Bangladesh is set to emerge as the next manufacturing hub of global footwear industry as cheap labour coupled with weak currency is prompting top manufacturers to relocate their factories in the country.Officials said in the last two months alone the...

Freed from restraints of red tape, Honduras shows the way

The Barberia Charly has been open for only two months but demand for the hairdresser's speciality cut -- a military style known as the corte ingles -- looks pretty healthy, with up to 30 hard-looking young men passing through the...

Deafening silence of the dumb

FOR the last forty-five years I have been shunning any scene of animal slaughtering during Eid-ul-Azha since the day a goat, who was my most intimate playmate for a couple of years since its birth, was slaughtered as an object...

commodities digest

dev countriesNEW DELHI, May 31: For the beleaguered net food importing developing countries, faced with the recent record level of prices for almost all agricultural commodities that led substantially to food inflation, the prospects for any respite in the medium...

Carmichael College reunion-2008

For a few days there was great excitement in our family, as the reunion of former students of Carmichael College was approaching. Although, I did not give any importance to the matter, but the excitement reached a peak and I...

Solar-powered iPhone on the way?

Apple has taken a stand to using solar cells in its mobile devices. A recently published patent application discovered by MacRumors.com, who focus on Apple's news and rumours, reveals that Apple is studying the possibility of the use of solar...

news digest

devolution planCOLOMBO, May 31: Sri Lanka's separatist Tamil Tigers have rejected government plans to devolve more power to the island's north and east and killed 31 troops in the latest fighting, a pro-rebel website said Saturday. The head of the...

Penal rates to be specific

The government has decided to bring a major change in the existing income tax law to facilitate declaration of any lawfully earned undisclosed income detected by taxmen during assessment.However, the taxpayers concerned will have to pay a specific rates of...

Education with other life-supporting training

It is very common to see guardians to be worried about good result of their kids. They become proud when they know their son/daughter has stood first in exam. Many guardians neglect the development of other skills in their kids....

Philippines to boost subsidies

MANILA has said it will increase subsidies to help poor households cope with rising food and energy prices as soaring inflation and slowing economic growth take their toll on the country.The move came last Thursday as the Philippine government said...

Fellowship news

Application Deadline: Ongoing through September 30, 2008The Justice and Journalism Fund supports in-depth, high-quality news stories and commentary.The fund was established by USC Annenberg's Institute for Justice and Journalism (IJJ) through a Ford Foundation grant to provide direct support to...

'The interest is really a turning point this year'

CHAD Hurley, a 31-year-old user interface expert, and a couple of friends stumbled on the idea for YouTube just over three years ago when they wanted to share some videos and found existing services too clunky. By October 16 2006,...