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Bangladesh is now a role model of increasing inequality, said Anu Muhammad, a prominent economist and professor of economics at Jahangirnagar University. He made the remark at a seminar titled ‘National Budget 2022-23: Expectations and Realities of All,’ organised by the Department of Economics, Jahangirnagar University (JU) on Sunday (June …

The Bangladesh Bank yesterday said the interested candidates for the post of managing directors of non-bank financial institutions (NBFIs) have to obtain at least 20 years of working experience at banks or NBFIs. The candidate also has to have two years’ experience of working in the immediate lower post of …

Finance Minister A H M Mustafa Kamal FCA, MP placed his fourth national budget in parliament on June 9, proposing reducing the tax burden on businesses significantly. The proposed base income tax rate is 27.5 per cent, a reduction by 2.5 percentage points from the current 30 per cent. This …

Bangladesh Bank yesterday asked banks, mobile financial service (MFS) providers and payment service providers (PSPs) to take effective measures to ensure that payment services were available to people in flood-hit areas. Branches of banks, ATM booths, agent banking outlets and MFS agent points in such areas were now suffering from …

Panic and uncertainty have gripped the relatives of people living in flood-hit Sylhet and Sunamganj as they are unable to communicate with their loved ones due to an electricity blackout that has put about half of the local mobile network towers out of commission. As such, most of the 40 …

Stock market index tumbled yesterday for the second consecutive day amid low participation of investors. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 49 points, or 0.76 per cent, to 6,356. Turnover of the Dhaka bourse also dropped, hitting Tk 823 crore, down from the previous …

The proposed national budget has not safeguarded the country’s middle class, which is facing a three-pronged challenge of a discriminatory domestic economy, spiralling product prices in international markets and ongoing floods, said economist Debapriya Bhattacharya yesterday. “(The finance minister) hasn’t paid attention to the middle class (in the proposed budget). …

The government missed an opportunity to contain inflationary pressure by leaving the tax and other duties levied on most essential products unchanged in the proposed national budget for fiscal year 2022-23, according to various economists and business leaders. They suggested increasing direct taxes instead of indirect taxes to reduce the …

The current flooding in Sylhet has caused losses of more than Tk 140 crore for the local aquaculture industry, with farmers in Sunamganj district being the worst affected, according to a preliminary estimate by the Department of Fisheries (DoF). Some 32,802 farmers, who were raising fish such as carps on …

Inflation surged to an eight-year high of 7.42 per cent in May, driven by a hike in food costs, underscoring the plight a majority of the population in Bangladesh is currently experiencing, official figures showed yesterday. Last month’s sharp rise in the Consumer Price Index (CPI) was more than one …