TueFeb202018

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Business

Fix private sector's problems to achieve SDGs: experts

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Bangladesh will not be able to achieve the Sustainable Develop-ment Goals within the 2030 deadline without addressing challenges confronting the private sector, experts said yesterday.


The country's private sector is facing problems ranging from sluggish infrastructure investment, lack of skilled human resources to the energy crisis, unplanned urbanisation, and industrial pollution.


The 17 goals of the SDGs will not be achieved by 2030 if the government and the entrepreneurs do not take up the issues properly, according to the experts.

 

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DSE, CSE downward in early trading

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DSE, CSE downward in early trading

Both the bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- witnessed a downward trend in the early hours of trading on Thursday as cautious investors were on booking profit.


Within first one hour of trading, the key index of the country’s major bourse, DSE, went down by 2.15 points while the Selective Category Index of port city bourse lost 15.79 points.

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NBR claims Tk 9.24 billion in unpaid taxes from Robi

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The National Board of Revenue, or NBR, has claimed Tk 9.24 billion in unpaid taxes from mobile telephone operator Robi Axiata Limited.


The NBR has sent five letters to the mobile operator regarding the matter, with the fifth being sent last Tuesday.


“This is a massive tax claim,” Commissioner Matiur Rahman of the NBR’s Large Taxpayers Unit told bdnews24.com. “None of the other telecoms companies have so much in unpaid taxes.”

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Pursue trilateral cooperation: Nepalese think-tank to Bangladesh, India

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Sunil KC

A Kathmandu-based think-tank has suggested Bangladesh and India pursue trilateral connectivity projects with Nepal for greater benefits of the region as the BBIN initiative becomes uncertain after Bhutan opted out.

“This trilateral cooperation represents a great opportunity to improve relations between Bangladesh, India and Nepal overcoming the low-ebb of bilateral relations,” Sunil KC, CEO of the Asian Institute of Diplomacy and International Affairs (AIDIA) told bdnews24.com.

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India-Asean trade on the rise

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India-Asean trade on the rise

India-Asean trade relations have been growing steadily, with Asean being India’s fourth largest trading partner. Both sides have set a target of at least US$200 billion in two-way trade by 2022 compared to US$ 71 billion in 2016-17.


The trade relations between India and the Association of South-East Asian Nations (Asean) comprising of Indonesia, Singapore, Philippines, Malaysia, Brunei, Thailand, Cambodia, Lao, Myanmar and Vietnam have seen an upsurge since the last decade.

 

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Bangladesh Bank lowers loan-to-deposit ratio to curb lending

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Banks in Bangladesh have failed to recover Tk 656 billion from top borrowers in 10 years, the finance minister told the parliament last week. File photo

In an effort to curb aggressive lending, Bangladesh Bank has reduced lending limits for banks.The ceiling for the advance-to-deposit ratio or ADR that measures loans as percentage of deposits for commercial banks has been revised down by 1.5 percentage points to 83.5 percent.


For Islamic banks, it has been cut by 1 percentage point to 89 percent.


In a notice issued on Tuesday, the central bank said banks must adjust it gradually by June 30.

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Businessmen want 5-day extension of DITF

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Businessmen want 5-day extension of DITF

Businessmen participating at The Dhaka International Trade Fair 2018 has proposed an extension for five more days to end February 5 instead of January 31.


Mohammad Abdur Rouf, member secretary of DITF told UNB that they on Wednesday received an application from the businessmen seeking a five-day extension of the trade fair and sent it to the Commerce Ministry.

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DSE, CSE downbeat in early trading

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DSE, CSE downbeat in early trading

Both the bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- witnessed downward trends in the early hours of trading on Wednesday as investors were on selling spree.


The benchmark index of the DSE went down by 8.23 points, while the Selective Category Index of the port city bourse shed 25.68 points.

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Higher economic growth hinges on investments, skills

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Bangladesh has to mobilise private investment and improve skills of the manpower to achieve its desired economic growth, Asian Development Bank's Vice President Wencai Zhang said yesterday.


Zhang said replying to a query on the country's strong economic growth in recent years while job creation remained slow.


He spoke at a press meet at the ADB's Dhaka office, to share his experience of attending the two-day Bangladesh Development Forum meeting that ended yesterday.

 

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Higher economic growth hinges on investments, skills

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Bangladesh has to mobilise private investment and improve skills of the manpower to achieve its desired economic growth, Asian Development Bank's Vice President Wencai Zhang said yesterday.


Zhang said replying to a query on the country's strong economic growth in recent years while job creation remained slow.


He spoke at a press meet at the ADB's Dhaka office, to share his experience of attending the two-day Bangladesh Development Forum meeting that ended yesterday.

 

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Malaysian trade team in city to explore biz opportunities

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Malaysian trade team in city to explore biz opportunities

An eight-member Malaysian trade delegation is now visiting Bangladesh to explore opportunities in renewable energy, ICT, medical tourism, agro processing and vehicle assembling.


President of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) Syed Moazzam Hossain welcomed the Malaysian business delegation led by Tan Seng Sung of TC Management Service Corporation Sdn Bhd on Monday at BMCCI office.

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Better domestic policies to boost trade

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Better domestic policies to boost trade

Better domestic policies are important for a country to benefit from trade, former WTO director general Pascal Lamy said yesterday.


“I do believe trade opening brings benefit on the number of conditions that has to be made,” Lamy said.


“Some of these solutions are international. There is an issue of the fairness of the global trade regime and it is only partially been addressed in the recent decades.”

 

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High rice prices, weak banking sector buck Bangladesh’s economic gains in 2017

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The key indicators did well in 2017 amid a seemingly stable political atmosphere throughout the year, but the economy took a hit on spiralling rice prices and a messy banking sector.


The Bangladesh economy grew by a record 7.28 percent in the 2016-17 fiscal, beating the 7 percent target, thanks to the increased revenue collection, high foreign currency reserves propelled by a spike in export and remittance inflow.

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High rice prices, weak banking sector buck Bangladesh’s economic gains in 2017

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The key indicators did well in 2017 amid a seemingly stable political atmosphere throughout the year, but the economy took a hit on spiralling rice prices and a messy banking sector.


The Bangladesh economy grew by a record 7.28 percent in the 2016-17 fiscal, beating the 7 percent target, thanks to the increased revenue collection, high foreign currency reserves propelled by a spike in export and remittance inflow.

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2017 marked by consumers' woes

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Since early morning yesterday, Shaikh Masum Bellah has been recollecting the year that just passed by and the factors that affected his and his family's wellbeing.


And one such event was the spiralling prices of rice and the other essential commodities in 2017.


“As consumers, we had a painful year. We had to spend almost double of what we spent the previous year,” said Bellah, who works as manager of a shrimp wholesale depot at Rupsha, Khulna.

 

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BIBM study finds five hurdles to PPP projects; not a single one completed in 9 years

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Despite the policymakers' high hopes, not even one of the around 50 projects initiated under the public-private partnership or PPP, has been completed in nine years.

The Bangladesh Institute of Bank Management or BIBM researchers have identified five obstacles behind the sluggishness in the projects in a report titled ‘Financial and Non-Financial Issues in Implementing PPP in Bangladesh: An Examination of PPP Projects of PPP Projects in Pipeline’.

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BB blocks funds of two banks

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Bangladesh Bank has frozen Tk 51 crore from ONE Bank's current account with the banking regulator and Tk 25 crore from Premier Bank's for their aggressive lending practices that took them way past the permissible limit for advance-deposit ratio (ADR).


The central bank blocked the amounts on December 17 in line with the Bank Company Act, 1991 -- a first in case of private commercial banks.

 

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