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Bangladesh

Bangladesh customs seizes 11 luxury vehicles of DFID

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Bangladesh : Customs Intelligence seized 11 imported vehicles belonging to a British aid agency from the Centre for the Rehabilitation of the Paralyzed in Savar on the outskirts of Dhaka on Wednesday night. Customs Intelligence and Investigation Directorate director general Shahidul Islam in a statement said that the seized vehicles of aid group Department for International Development worth of Tk ... Read More »

US to strengthen economic ties with Bangladesh

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Bangladesh : The US Ambassador was speaking as the chief guest at the Annual General Meeting (AGM) of International Business Forum of Bangladesh (IBFB) at Brac Center in the city. Appreciating Bangladesh for fulfilling all the criteria for LDC graduation, the envoy said Bangladesh will get less benefit of many foreign preferences than it is enjoying now by graduating from ... Read More »

Tax-breaks, incentives lure investors

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A rising number of entrepreneurs are joining the queue to establish private economic zones, tempted by the tax breaks and a host of other benefits offered by the government. Some 43 entrepreneurs have so far applied to the Bangladesh Economic Zones Authority (Beza) for licences to set up economic enclaves on their land. The Beza awarded the final licences to ... Read More »

Customs Intelligence seizes luxury SUV worth Tk5cr

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Dhaka; The Customs Intelligence and Investigation Directorate (CIID) have seized a Toyota Land Cruiser luxury car from Dhaka’s Gulshan. The car, which had no nameplate, is a 2013 Toyota Land Cruiser V8, and was seized around 11:30am Thursday. A note was found in the car—stating that someone who is neither the owner nor the importer of the car left it ... Read More »

Philippines releases 11 Bangladeshi seamen

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Bangladesh : Eleven Bangladeshi crew detained by the Philippines authorities from a Chinese ship were released on Tuesday, reports UNB. After lots of efforts, charges against all the crew, including the Bangladeshis have been dropped and the ship has been allowed to leave the port, confirmed a source at Bangladesh mission in the Philippines. The crew left Zamboanga port in ... Read More »

Bangladesh tea prices rally for 6th week

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Tea prices in Bangladesh rose at the weekly auction for the sixth time in a row on strong demand for quality leaf amid a lower volume on offer. Bangladeshi tea fetched an average of 243.61 taka ($2.7) per kg at the new auction centre in Srimangal on Monday, compared with 242.52 taka at the previous sale in the port city ... Read More »

Islami Bank’s 35th AGM held

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Dhaka, June 25 (UNB) – The 35th Annual General Meeting (AGM) of Islami Bank Bangladesh Limited was held on Monday at Kurmitola Golf Club in the capital. Professor Md. Nazmul Hassan, chairman of the bank, presided over the meeting, said a press release. Sheikh Moulana Mohammad Qutubuddin, chairman of Shariah Supervisory Committee, Yousif Abdullah Al-Rajhi of KSA, vice chairman of ... Read More »

Corporate tax cut for wooing investors

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In order to woo investors in the new fiscal, Finance Minister AMA Muhith has proposed to reduce corporate tax rates in banks, insurance companies and financial institutions. The Finance Minister presented the budget for Fiscal Year 2018-19 on Thursday in the parliament in presence of President Abdul Hamid and Prime Minister Sheikh Hasina. The corporate tax rates of the publicly ... Read More »

Bangladesh arrests 22,000 in anti-drugs campaign

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Bangladesh law enforcers have arrested 22,000 people since launching a crackdown on drug trafficking last month, the country’s Home Minister Asaduzzaman Khan Kamal said on Monday. He made the remarks at a press conference in capital Dhaka organised on the occasion of International Day against Drug Abuse and Illicit Trafficking, which falls on Tuesday, Xinhua reported. Kamal said law enforcers ... Read More »

BAB decides to bring down lending rate at 9.0%

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Dhaka, : Bangladesh Association of Banks (BAB) has decided to bring down the interest rate on lending at 9.0 per cent and deposit rate at 6.0 per cent from the existing level. The decisions were taken at an emergency meeting held at its office in Dhaka on Wednesday with its chairman Nazrul Islam Mazumder in the chair. The new interest ... Read More »

Thousand institutes to get MPO before polls

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The government will before the next general elections add around 1,000 non-government educational institutes to the ones that enjoy monthly pay order (MPO) from the state coffer. The education ministry has already started working on the new list as the proposed budget for the new fiscal has made some allocations to this end, two senior officials of the ministry told ... Read More »

Japan signs $1.8b deal to fund six projects in Bangladesh

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Japan, one of Bangladesh’s largest development partners, has signed the largest loan package with Bangladesh to fund six major projects, including Matarbari port development and Jamuna railway bridge construction, reports bdnews24.com. Other projects—two separate lines of the Dhaka Mass Rapid Transit Development Project, Matarbari Ultra Super Critical Coal-Fired Power Project, and Health Services Strengthening Project—will also be under the new ... Read More »

UN honours 4 Bangladeshi fallen peacekeepers

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Four fallen Bangladeshi peacekeepers have been honoured at the United Nations (UN) Headquarters in New York on Friday, reports UNB. The four fallen peacekeepers from Bangladesh are sergeant Md Altaf Hossain, lance corporal Md Jakirul Alam Sarkar, and privates Md Monowar Hossain and Md Abdur Rahim. Altaf, Jakirul and Monowar lost their lives while serving with the United Nations Multidimensional ... Read More »

FBCCI wants bank looters to be punished

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The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday sought exemplary punishment for those who have misappropriated and plundered money from the country’s banks. President of the apex trade body M Shafiul Islam Mohiuddin came up with the demand at a post-budget press conference in its office, reports UNB. President of the apex trade body M Shafiul ... Read More »

WB $55m for renewable energy in rural areas

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Bangladesh: The additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids, and about 4 million improved cookstoves in rural areas, reads a WB press release. The agreement was signed by Kazi Shofiqul Azam and Qimiao Fan on behalf of the government and the World Bank, respectively, ... Read More »

At current rates, Bangladesh could top India’s per capita income by 2020

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Bangladesh: After trailing its big neighbour for four decades, Bangladesh has gone ahead of India in economic growth and on social development indicators. In the three years ending 2016, Bangladesh’s gross domestic product (at current prices) in dollar terms grew at a compounded annual rate (CAGR) of 12.9 per cent, more than twice India’s 5.6 per cent. Over the same ... Read More »

No internet, phone in Motijheel Jun 8-11

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Bangladesh Telecommunications Company Limited (BTCL) cited the reason to be “transferring the existing underground lines” in a press release issued today. The telephone services of BTCL were also shut during June 1 to June 4 due to the ongoing work, the press release added. Currently, Motijheel is undergoing major dig-out following the metro rail project. BTCL says they will be ... Read More »

Asian Investors Shift Cautiously, Autos Hit By US Tariff Threat

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Bangladesh:Asian markets were mixed Thursday with traders concerned about the China-US trade deal and Donald Trump’s summit with Kim Jong Un, while automakers were hit by news Washington was considering huge tariffs on vehicle imports. Investors went into selling mode despite minutes from the Federal Reserve’s latest policy meeting that showed the central bank was less hawkish on interest rates ... Read More »

State banks on a loan rescheduling spree

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Janata : State-run banks are fervently rescheduling loans with a view to flattering their true financial health. In 2017, Sonali, Janata, Agrani, Rupali and BASIC rescheduled loans amounting to about Tk 5,000 crore, in contrast to Tk 3,300 crore a year earlier, according to data from the central bank. Janata regularised the highest amount of loans: Tk 1,433 crore. As ... Read More »

DSE enters hi-tech era

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The Dhaka Stock Exchange can brace itself for some radical technological upgrades in the near future that would take it to global standards after Shenzhen Stock Exchange (SZSE) and Shanghai Stock Exchange (SSE) became its strategic partner. The Chinese consortium, which will ink the deal to purchase 25 percent stake in the DSE today, has offered to share an array ... Read More »