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Operating profits of most of the scheduled banks increased significantly in the just-concluded year of 2017 amid rampant credit disbursements by the banks, said senior bank officials. Out of 28 banks, data of which were available till Sunday, operating profits of 27 banks rose in the year. Relatively calm political situation, moderate rise in export […]

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Dr AB Mirza Azizul Islam, former finance adviser to caretaker government AB Mirza Azizul Islam Top three challenges Bangladesh economy faced in 2017: # The growth of export earnings and remittance inflow has slowed down drastically in the year 2017. The export growth decreased by 1.72% compared to 10% in the previous year, while the […]

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The circular reads that Bitcoin is not an authorised and legal currency in any other country in the world Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website. The circular read that Bitcoin is not an authorised and legal currency in any other country […]

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Refayet Ullah Mirdha   The favourable US dollar-taka exchange rate has lent a helping hand to apparel exporters in the outgoing calendar year, cushioning the fallout from the uncertain political climate in the Western world. In the first 11 months of 2017, Bangladesh exported garment items worth $26.40 billion, up 1.38 percent year-on-year, according to […]

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Govt allocates around Tk7,000cr from Energy Security Fund without guideline The government is using money from the Energy Security Fund to manage and plan for gas deficiency in the future. In the past, they were facing difficulty to gather funding to meet import costs of 1,000 Million Cubic Feet per Day (mmcfd) of liquefied natural […]

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‘Our textiles industry will stand on its feet again now that we have taken the initiative to revive the mills under PPP’ The government has decided to restart 13 textiles mills that were shutdown 25 years ago due to huge losses and run them under a public-private partnership (PP) initiative, according to an official of […]

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Bangladesh’s Balance of Payment or BoP has skyrocketed after the end of the first quarter of the fiscal 2017-18.  According to the central bank’s latest figures, it clocked $3.31 billion in the four months from July to October, marking a staggering 124 percent rise from the $1.48 billion in the entire previous fiscal year. Compared […]

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Sajjadur Rahman and AKM Zamir Uddin The cash-strapped Farmers Bank failed to repay interbank short-term loans of about Tk 700 crore to four banks over the past two months, a development that may further erode depositors’ confidence in the scam-hit bank. The interbank lending market is where banks borrow from each other for a specific term, mostly […]

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The jewellers in Bangladesh have lowered the prices of gold by up to Tk 1,283 per Bhori (11.664 grams). In the announcement on the cut in prices on Monday, the Bangladesh Jewellers Samity or Bajus also demanded an end to ‘harassment of the jewellers’. They sought quick passage and implementation of the guidelines on trading […]

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The National Board of Revenue has awarded One World Aviation Ltd a special honourary award for paying the highest VAT amount at a national level in the service sector. Finance Minister AMA Muhith presented a certificate and a crest to the MGH Group’s sister concern at an event on Sunday, December 10. The award was […]

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The National Board of Revenue is actively considering signing agreements with tax haven and offshore jurisdiction countries to get information related to illegal investment, money laundering and tax evasion activities by Bangladesh national and companies. The deal known as Tax Information Exchange Agreement (TIEA) will help the tax authority to get information on the issues […]

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Prime minister Sheikh Hasina on Sunday expressed the optimism that the ICT sector will be the biggest contributor to the country’s foreign currency earning in near future. “I think this (ICT) will be our biggest contributor to the export bucket, we want to give training to our children towards that end,” she said. The prime […]

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