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Search results for: economy

‘Ship breaking industry can contribute a lot to economy’

Our Correspondent August 29, 2017 01:17:55

CHITTAGONG, Aug 28: The ship breaking industry in Bangladesh has the potential to become a vital economic sector and contribute significantly to the growth of the country's economy.Secretary General o...

Remittance inflow to rebound in FY18: BB

-- August 28, 2017 21:59:06

The flow of remittances into Bangladesh is expected to rebound in the current fiscal (2017-18) as the central bank has taken some measures to streamline the legal channel for encouraging NRBs to send...

Most banks skip FTP policy

FE Report August 28, 2017 12:53:06

Most of the country's banks are yet to have any Fund Transfer Pricing (FTP) policy despite growing importance of the same in reducing the risk of liquidity shortfall, a recent industry-wide survey rev...

30 crime syndicates producing fake notes

-- August 28, 2017 12:50:47

Over 30 crime syndicates have been involved in producing and circulating of different fake currencies, especially US dollars, Euro, Pound, Saudi Riyal and Taka, a police official said. "Criminals usu...

RMG value addition declines marginally

FE Report August 28, 2017 12:28:54

Gross value addition (GVA) in the country's biggest export earning sector --clothing sector -- fell by 0.28 percentage point to 75.07 per cent in the immediate past fiscal year.   Analysts and...

Bangladeshi investors to set up ceramic factory in Nigeria

-- August 28, 2017 10:59:40

Some Bangladeshi investors concluded arrangements to establish a ceramic factory in Nigerian state Kogi. Bangladesh High Commissioner to Nigeria, Maj.-Gen.Sharif Kaikoba disclosed this while he cal...

58pc commercial banks have no guidelines for fund transfer: Report

-- August 27, 2017 22:51:18

Country's 58 per cent commercial banks have no guidelines for transferring funds within their branches while 98 per cent banks use old age system to calculate fund transfer pricing, according to a BIB...

'Govt to bring all industries under central welfare fund'

-- August 27, 2017 20:57:33

The government will bring all industries under the central fund created to provide financial support to the families of the workers who die or receive grave injuries in their work places. Prime Minis...

WB to provide $515m for health sector development

-- August 27, 2017 14:44:59

The World Bank (WB) will provide $515 million for financing a programme designed to improve further the country's health sector and ensure that all citizens have access to better health services. &...

China sees slowest industrial profit growth in three months

Reuters August 27, 2017 10:48:48

Earnings growth for China’s industrial firms cooled in July after accelerating for three straight months, reinforcing expectations the economy will slow over coming quarters as higher lending...

Rice import from Cambodia: Logistical costs main concern

-- August 26, 2017 13:11:30

Cambodia has refuted international media reports that claim the price for rice exports to Bangladesh is fixed. One Cambodian exporter said the price is expected to be finalised in mid-September and n...

NBR to phase out truncated-base VAT in two years

FE Report August 26, 2017 13:10:09

The tax authority is in a process to gradually phase out the truncated-base of Value Added Tax (VAT) within the next two years before implementation of the new VAT and Supplementary Duty (SD) act-2012...

Internet banking transactions jump by 40pc in FY17

FE Online Report August 26, 2017 12:31:26

Annual transaction of the country’s internet banking in the past fiscal year (FY17) posted a robust 40 per cent growth over the previous fiscal year (FY16).   Latest statistics of the c...

Germany Q2 GDP grows 0.6pc

-- August 25, 2017 20:38:55

The German economy grew by 0.6 per cent in the second quarter of 2017, helped by private consumption and state spending, data showed on Friday.   Confirming a preliminary reading for growth, th...

Muhith asks PSB to help change rural poor’s lot

FE Report August 25, 2017 20:33:38

Finance Minister AMA Muhith inaugurated on Thursday the online banking activities of Palli Sanchay Bank (PSB), with a call to help upgrade the financial condition of rural people.   He launch...

'Bangladesh working for achieving SDGs'

-- August 24, 2017 15:55:31

Bangladesh is now working to achieve the Sustainable Development Goals (SDGs), says the speaker. “Bangladesh has made significant marks in socio-economic development indicators .... And the coun...

Bangladesh risks 'devastating' hunger after major floods:UN

-- August 24, 2017 11:11:04

As food aid rolls out to more than 200,000 people in flood-hit Bangladesh, the United Nations said on Wednesday that long-term food supplies were at risk with so much farmland now ruined. Flooding,...

'Foreign aid inflow in July encouraging'

-- August 22, 2017 16:13:26

The foreign aid inflow to Bangladesh during the first month (July) of the current fiscal year was a bit encouraging as the aid disbursement during the last month was $242.3 million higher than the cor...

Passengers handling capacity of Dhaka airport to double in 2022

-- August 22, 2017 06:39:05

Bangladesh has taken Dhaka International Airport expansion project. The expansion will help the airport to double its passengers handling capacity. The project includes the construction of a new term...

Bangladesh workers in Oman not getting salary timely

-- August 22, 2017 06:11:16

Bangladeshi workers in Oman haven’t been paid regularly for last one year, according to a report by http://timesofoman.com. “We are working, but we are not getting paid on time. Every two...

Recovering banking loans

Raihan M Chowdhury August 22, 2017 04:51:02

Alternative Dispute Resolution (ADR) mechanism will be a good tool to recover stuck-up loans as the existing legal procedure is very time-consuming and costly.   The volume of growing nonperfor...

Bangladesh to sell bandwidth to Myanmar, Cambodia, Vietnam, Bhutan

-- August 21, 2017 07:16:16

Bangladesh has taken an initiative to sell 100 GB/s bandwidth to four countries. The countries are Myanmar, Cambodia, Vietnam and Bhutan. To sell bandwidth to Bhutan, Bangladesh is now talking with I...

NBR finds flaws in tax returns

Doulot Akter Mala August 21, 2017 06:37:22

A much-vaunted review of all the income-tax returns submitted in last fiscal detected only less than one per cent mathematical errors, but scared many of the taxpayers.   Officials said taxmen...

Tax return scrutiny detects negligible faults

Doulot Akter Mala August 21, 2017 04:00:49

A much-vaunted review of all the income-tax returns submitted in last fiscal detected only less than one per cent mathematical errors, but scared many of the taxpayers.   Officials said taxmen...

Bangladesh produces 1.4m tonnes salts this year

-- August 20, 2017 06:11:23

Some 1.4 million tonnes of salt was produced in the country this year against the annual demand of 1.6 million tonnes, according to industries and commerce ministries. Salt industry is the largest...

HC clears way for realisation of 17 per cent holding tax by CCC

Our Correspondent August 19, 2017 06:28:39

The High Court (HC) has dismissed a writ petition that challenged the realisation of 17 per cent holding tax by the Chittagong City Corporation (CCC) as per the model tax schedule 2016 framed by the g...

NPLs jump 19pc in six months to June

Siddique Islam August 19, 2017 03:55:23

The volume of non-performing loans (NPLs) jumped by over 19 per cent or Tk 119.76 billion at the end of June this year from December closing last year, despite close monitoring by the central bank. T...

German building permits drop 7pc in H1

-- August 17, 2017 11:00:24

Residential building permits issued in Germany dropped 7.0 per cent on the year in the first six months of 2017, data showed on Thursday.   Germany, the largest national economic country of Eur...

Euro zone inflation stable in July

Reuters August 17, 2017 10:51:33

Inflation in the 19 countries sharing the euro currency remained stable in July, European statistics office Eurostat said on Thursday.   Core inflation metric excluding volatile energy costs an...

IRD limits size of income tax file audit

Doulot Akter Mala August 17, 2017 10:27:39

The Internal Resources Division (IRD) has issued a directive to audit maximum 25,000 income tax files of both individuals and corporate taxpayers to detect tax evasion and concealment of actual income...