Local think-tank Unnayan Onneshan has said short-sighted fiscal management and inappropriate monetary policies led to stagnation in investment and weak performance in the real economy of the country. The economic growth in the current financial year 2013-14 is likely to experience a decelerating rate for the third time in a row, it also said
Month: May 2014
BANKS’ COMMISSION ON NSC SALES : BB requests NBR not to deduct 10pc tax at source
Bangladesh Bank has requested the National Board of Revenue for not deducting tax at source at the rate of 10 per cent on commission commercial banks receive on sales of prize bonds and national savings certificates, BB officials said. They said that deduction of tax at source would cause double taxation on same income of the ... Read more
NON-PAYMENT OF DIVIDEND BY MF : BSEC plans to amend rules to penalise asset management cos
Bangladesh Securities and Exchange Commission is planning to amend the mutual fund rules to strengthen its supervision over the asset management companies following their failure to issue dividends to the unit holders, BSEC officials said. A BSEC high official said, ‘As per the existing mutual fund rules, the capital market regulator has no legal power in
Money legalisation confusion sends stocks to negative for 3rd week
Dhaka stocks dropped sharply last week, extending the bear run to three weeks, as investors continued to sell shares amid uncertainties following the finance minister’s announcement that the government ‘would not allow’ legalisation of undisclosed money in the upcoming budget, market operators said. The finance minister, AMA Muhith, on May 8 and
India’s Ambani, Adani gain $1.3b in a Day on Modi win
Mukesh Ambani, India’s richest man, added almost $1 billion to his wealth while Gautam Adani gained $400 million on Friday as early vote counting showed Narendra Modi’s opposition bloc is set for the biggest election win in 30 years, reports Bloomberg. Ambani, chairman of Reliance Industries Ltd., has added $6 billion to his fortune since September ... Read more
Festival on films of golden age attracts huge audience
The three-day film festival featuring films of ‘golden age’ drew huge audience at the auditorium of National Art Gallery of Bangladesh Shilpakala Academy. In order to celebrate 30 decades of the founding of Bangladesh Film Archive, the organisation has jointly arranged the festival with Bangladesh Shilpakala Academy. The festival, which was inaugurated by noted playwright ... Read more
Bashir Ahmed commemorated
Recently demised noted singer Bashir Ahmed was remembered through award giving ceremony, discussion and presentation of the singer’s popular songs at a programme at the Music and Dance Centre auditorium of Bangladesh Shilpakala Academy on Thursday. Bashir Ahmed, who dominated the music industry in the 60s and 70s and is considered as one of the ... Read more
Aishwarya misses first appearance at Cannes
Bollywood star Aishwarya Rai Bachchan, who was set to walk the red carpet at the Festival de Cannes today, will not be able to do so due to the air traffic control strike in France, reports Indian Express. The 40-year-old mother of one will now walk the red carpet on an alternate day after her ... Read more
Matthew McConaughey talks up next film in Cannes
Oscar-winner Matthew McConaughey has dropped into the Cannes Film Festival to promote his next film Sea of Trees, with director Gus Van Sant, reports BBC Online. The Dallas Buyers Club star said the script, which sees him play an American who travels to Japan to kill himself, gave him ‘the chills’. ‘It was the best ... Read more
Filmmaking course offered at Bangladesh Film Institute
Registration for the 35th film appreciation course is now open for those who are interested in filmmaking. The two-month course titled Film Appreciation Course, which has been organised by Bangladesh Film Institute, will begin on May 22. Noted filmmaker Tanvir Mokammel will conduct the course. The course will teach students
Gazi TV win BCB media rights
Local TV channel Gazi Satellite Limited has bagged the media and broadcasting rights of the Bangladesh Cricket Board for the next six years as the board decided to sell the rights for half the price of the present market value. Gazi offered highest $20.25 million in the open bidding at a city hotel on Friday though ... Read more
Hathurusingha denies coaching offer from BCB
Chandika Hathurusingha on Friday vehemently denied getting any offer to become Bangladesh national team’s head coach although the Bangladesh Cricket Board claimed that they are close to inking a deal with him. ‘I don’t know where you are getting these things,’ Hathurusingha told a private TV channel. ‘I am very happy what I am doing here,’ said ... Read more
BJMC shock Russell
Defending champions Sheikh Russell suffered a shock 2-1 defeat against Team BJMC in their Bangladesh Premier League match at the Bangabandhu National Stadium on Friday. Though a week ago Russell created history by becoming the first Bangladeshi team to qualify for the final round of the AFC Presidents Cup, they have
Prices of edible oil, pulses rise in capital
The prices of edible oil and pulses went up in the capital’s kitchen markets over the week ending Friday. Traders attributed the price hike to rise in the prices of the items on the wholesale market. The prices of palm and super palm oil increased by Tk 3 a litre and the items were selling at Tk ... Read more
Bad loans in banks surge to Tk 36,779cr in Jan-Mar
The worst type of loans accounts for 76pc of defaulted loans Bad loans, the worst category of defaulted loans, in the banking sector posted a 15.22-per cent growth in the first quarter of this year compared with that of a negative growth of 19.07 per cent in the last quarter of 2013 due to scheduled ... Read more
Stock tribunal to be set up at BHBFC Bhaban
The special tribunal to deal with the stock market-related cases will be setup at BHBFC Bhaban instead of Chini Shilpa Bhaban, a BSEC official said. The Bangladesh Securities and Exchange Commission earlier decided to rent space at Chini Shilpa Bhaban. But the decision was changed following a finance
Online info management system on cards for tracking aid flow
The Economic Relations Division is likely to frame an online system by the year-end, aiming to strengthen transparency and effectiveness of aid management in Bangladesh for both the government and the development partners through tracking incoming aid flow. The online system, called aid information management
4-day int’l convention on Nazrul ends today
Through most of his coveted works, national poet Kazi Nazrul Islam heralds an indomitable spirit that inspires people to fight against all forms of oppression. This unflinching, rebellious spirit of Nazrul was hailed by speakers as the poet was commemorated on the second day of the Fourth International Nazrul Convention. The event that has been ... Read more
BFF official off to UK to collect WC tickets
Bangladesh Football Federation general secretary Abu Nayeem Sohag left Dhaka for the United Kingdom on Thursday to collect the forthcoming FIFA World Cup tickets allotted for the Bangladeshi citizens. The BFF, who received the tickets through courier service in the past, sent its general secretary following a directive from FIFA, according to the official. ‘We were
Govt plans launch of eco tax
The government is planning to introduce eco tax from the next fiscal year in an attempt to curb pollution by the industrialists, finance minister AMA Muhith on Thursday said. There have been proposals for imposing higher tax on the industries polluting the environment and giving incentives to green industries, he said after