Current News

The government has allocated almost one-fourth of the development budget for fiscal 2019-20 to 14 mega projects with a view to accelerating their construction as it looks to make good on its last electoral promise. The size of the annual development programme for fiscal 2019-20 has been fixed at Tk …

Directors of a listed company will not be allowed to sell their shares if sponsors and directors fail to hold a combined minimum stake of 30 percent in the firm. The Bangladesh Securities and Exchange Commission (BSEC) took the decision at a meeting at its office in Dhaka yesterday, according …

The finance ministry has instructed government agencies not to keep any deposit with banks at 6 percent that fails to lend at 9 percent, creating further chaos in to the banking system that is already reeling from a liquidity crisis. Deposits from the government and autonomous institutions account for 15-20 …

Unlike millions of other US farmers, garlic growers are profiting from the trade war with China and have cheered President Donald Trump’s latest economic attack accordingly. Sales of California-grown garlic are now increasing after decades of losing ground to cheaper Chinese imports. Sales are poised to get even better as …

Saudi Arabia’s Public Investment Fund (PIF) has attracted only tepid interest in plans for its latest multibillion-dollar debt sale, banking sources say, suggesting the kingdom is losing its appeal for some lenders. International banks have flocked to join the efforts of the the Middle East’s largest economy to reduce its …

The government is going to approve today (Tuesday) a Tk 2.02-trillion Annual Development Programme (ADP) for the next fiscal year (FY), 2019-20, allocating the highest fund to the transport sector, officials said on Monday. A meeting of the National Economic Council (NEC), to be held in the capital, is likely …

The Bangladesh Submarine Cable Company Ltd (BSCCL) has received proposals from two Singapore-based companies — SingTel and SigMar — to establish connection for the country’s third undersea cable. The state-owned company is in the process of evaluating the proposals, both from the financial and technical perspectives, as it has already …

Banks should develop data banks on their own in order to prevent billions of dollars from being siphoned out of Bangladesh through trade-based money laundering, a study recommended. At the same time, banks should have self-initiatives in place to make the data available for other private commercial banks, according to …

Workers Party of Bangladesh President Rashed Khan Menon has demanded that the Bangladesh Bank’s recent loan rescheduling policy be suspended for it acted as an encouragement for defaulters. “The policy was issued without any prior discussion and was based on the finance ministry’s order,” he said. It is unknown why …

Latifur Rahman has recently been re-elected chairman of the National Housing Finance and Investments for a two-year term. The election took place at the company board’s 209th meeting on May 13, said the entity in a statement yesterday. Rahman is chairman and CEO of Transcom Group which deals with beverages, …