Sunday March 18, 2018 03:29 PM

  • US bank keen to finance satellite project

    US bank keen to finance satellite project

    The rate of interest is proposed to be less than 2%

    The Export-Import Bank of USA is willing to finance 85% of the total cost of Bangabandhu-1 satellite under a supplier’s credit arrangement.

    The bank wrote to Bangladesh Telecom Regulatory Commission recently, expressing the interest to fund around Tk25 billion for the Tk30 billion project – already approved by the Executive Committee of the National Economic Council (ECNEC).

    The rate of interest is proposed to be less than 2%.

  • Supermarket owners want ‘package vat’

    Supermarket owners want ‘package vat’

    To facilitate the country’s textile sector, BMTA leaders demanded reduction of income tax by 5% for the sector

    Leaders of Bangladesh Supermarket Owners' Association on Sunday requested the National board of Revenue (NBR) to introduce square-foot based ‘package vat’ for all the supermarkets after removing the existing 4% value added tax (VAT).

    The existing VAT system is discriminatory and hampering growth of the supermarkets as other shops pay VAT at a flat rate, they argued at a pre-budget meeting at the NBR headquarters in Dhaka. NBR member Farid Uddin chaired the meeting.

  • Fresh funds to recapitalise state-owned banks unlikely

    Fresh funds to recapitalise state-owned banks unlikely

    Govt has no intention to bail them out of fund crunch

    The government has no intention yet to inject fresh funds into the state-owned banks, especially Sonali Bank, and bail them out of the fund crunch they were suffering after a recent series of financial scams.

    “We’ve no intention to fund Sonali Bank,” Banking Division Secretary Dr M Aslam Alam told the Dhaka Tribune yesterday.

  • BB plans financial literacy drive for school children

    BB plans financial literacy drive for school children

    ‘I want to use my savings for higher education’

    The Bangladesh Bank plans to launch a financial literacy drive to teach school children money management skills, governor Atiur Rahman said yesterday.

    “The purpose of the programme is to make people understand about financial literacy. The scheme will teach kids money management skills that may be useful for the rest of their lives,” Atiur said while addressing a conference on school banking at the Bangladesh Bank Training Academy.

  • Political violence spooks Japanese investors

    Political violence spooks Japanese investors

    Japanese Ambassador is utterly frustrated at the current political situation in the country

    The Japanese Ambassador to Bangladesh, Shiro Sadoshima, has expressed deep concern over the country’s ongoing political confrontations. Adding that Japanese business delegations were shying away from Bangladesh as a destination as a result.    

    A top-level business team from Japan came to Dhaka last month but left immediately after a bomb exploded in front of their hotel, he said.

  • Shrimp exports get a boost as barriers removed

    Shrimp exports get a boost as barriers removed

    Bangladesh exported shrimp and fisheries items to EU countries worth Tk47.03bn last year

    Exports of shrimp and frozen fish to the European Union (EU) market rose to Tk47.03bn last year, almost double the 2009 exports figure, as the government took stricter steps to maintain quality and control contamination.

  • Tea faces a torrid time

    Tea faces a torrid time

    Country's tea export decreases as internal consumption increases

    Country’s tea export may face a severe setback after three years if necessary steps are not immediately taken for increasing its production.

    “Our tea has a great demand in internal as well as external markets. The demand is on the rise day by day, but production of tea in the country has not increased in proportion to the requirement,” Joint secretary (export) of Commerce Ministry Atiqur Rahman told UNB.

  • Maize target set at 18,500 tonnes in Kurigram

    Maize target set at 18,500 tonnes in Kurigram

    Target fixed for 2,565 hectares of land

    A target has been fixed to produce some 18,468 tonnes of maize from 2,565 hectares of land in nine upazilas of Kurigram in the current summer, UNB reported today.

    It is expected production in the char (landmass emerged from riverbeds) areas of Roumari and Rajibpurupazilas would be higher than Nageswari and Bhurugamariupazilas.

    Farmers this year are using high breed seeds like Pioneer 30V 92, Elit, Uttaran, NK-40, Pacific, CP-802 etc.

    Sources at the Department of Agriculture Extension (DAE) said maize is usually cultivated in the winter season.

  • Gold claws back losses after biggest fall in 30 years

    Gold claws back losses after biggest fall in 30 years

    Central bank in Cyprus is looking at selling some of its 14 tonnes of gold to help pay for a bailout agreed with the European Union and International Monetary Fund

    Gold prices clawed back some losses today after suffering their heaviest slump in 30 years triggered by weak Chinese growth data and reports Cyprus was planning to sell part of its reserves.

    Analysts said the 13 percent drop in prices between Friday's open and Monday's close could show gold's 12-year bull-run was at an end, with investors turning away from the metal, which is traditionally a hedge against inflation.

  • Export to US sees 4.70pc growth in July-Feb

    Export to US sees 4.70pc growth in July-Feb

    The major exports to the US market during the period were woven garment ($ 2,468.99 m), knitwear ($ 717.04 m), frozen shrimp ($ 26.87 m), home textiles ($ 124.72 m) and cap ($ 24.76 m)

    Export earnings from USA, the largest export destination for Bangladesh goods, witnessed a 4.70 percent growth during the first eight months (July-February) of the current fiscal (2012-13), mostly due to moderate performance of the RMG sector.

    The export earnings totaled US$ 3,471.48 million (m) during July-Feb of current fiscal (2012-13) compared to $ 3,315.73 m during the same period of the previous year (2011-12). The amount represents 19.95 percent of the country’s total export earnings during the period.

  • Hold dialogue, resolve crisis: FBCCI

    It wants media to help parties reach consensus


    The Federation of Bangladesh Chambers of Commerce and Industry (fbcci) yesterday urged the top leaders of the two major political parties to sit for a dialogue and thus break the current political standoff.

    “Let us compromise from everybody’s respective position, if necessary. Let us help the nation get rid of the political disunity and dispute,” fbcci President Kazi Akram Uddin Ahmed said at a meeting with editors and heads of newspapers, television channels and news agencies at Dhaka Club.

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