The government has moved to centrally store the data of 10 million low-income card-holder families benefiting from the sales drive of the Trading Corporation of Bangladesh (TCB), in order to check irregularities. To this effect, the commerce ministry has asked city corporations and deputy commissioners (DCs) to provide the information …
Read More »Bangladesh Bank creates fund to utilise undisbursed portion of farm loans
Bangladesh Bank (BB) has taken a decision to form a fund, titled Bangladesh Bank Agricultural Development Common Fund (BBADCF), for increasing farm production. Under the initiative, banks would deposit money equivalent to the un-disbursed amount of farm and rural loans in the fund and the BB would give 2 per …
Read More »Banks asked to eliminate stocks’ over investments by Dec 2023
The Bangladesh Bank on Monday asked the scheduled banks to bring down their capital market investments to permitted limits by December 31, 2023. The department of off-site supervision of the central bank issued a circular in this regard on the day. As per the Bank Companies Act, the scheduled banks …
Read More »Institutional failure behind poor domestic resource mobilisation
Economists on Monday said that institutional failure on the part of the National Board of Revenue had been affecting domestic resource mobilisation negatively over the years, which, in turn, resulted in an increase in the government debts. Due to a lack of resource mobilisation, Bangladesh’s current tax-GDP ratio remains far …
Read More »Betel leaf cultivation creeping up as exports expand
Betel leaf grown in Kushtia is not only popular across Bangladesh, but also beyond the country’s borders with increasing exports in the last several years encouraging more farmers to cultivate the crop. As such, betel leaf was cultivated on 2,230 hectares of land in fiscal 2021-22, up by some 4 …
Read More »BB gives banks more time to adjust
Bangladesh Bank has extended the period meant for banks to make adjustments to their overexposure in the stock market in a bid to give relief amid existing bearish trends. The central bank issued a circular in this regard yesterday. The Banking Companies Act 1991, which was amended in 2013, has …
Read More »EU reaches deal on major carbon market reform
EU member states and parliamentarians on Sunday announced an agreement for a major reform to the bloc’s carbon market, the central plank of its ambitions to reduce emissions and invest in climate-friendly technologies. The deal aims to accelerate emissions cuts, phase out free allowances to industries and targets fuel emissions …
Read More »Foreign funds dip despite increase in loan repayments
Following a series of global crises, Bangladesh’s government efficiently handled its foreign aid when it was predicted that it would start to drop from the end of the previous fiscal year. However, the adverse effects of those crises are now quite evident from the current fiscal year FY23. In the …
Read More »Coca-Cola Bangladesh removes over 1.8 ton marine debris from St Martin’s Island with Kewkradong Bangladesh
As a part of the annual International Coastal Cleanup and Coca-Cola’s global initiative to achieve a ‘World without Waste’ by 2030, the Coca-Cola System in Bangladesh in partnership with Kewkradong Bangladesh successfully conducted a coastal clean-up across the beaches of Saint Martin’s Island. The two organizations have teamed up for …
Read More »EU adopts global minimum 15pc tax on big business
The European Union has adopted a plan for a global minimum 15% tax on big business. Leaders gave their final approvals on Thursday after months of political wrangling. The landmark deal between nearly 140 countries aims to stop governments racing to cut taxes in a bid to attract companies. It …
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