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Category Archives: News In Picture

BASIC Bank spared provision on default loans

The central bank has spared state-owned BASIC Bank of obligations to maintain provisions against its Tk 45 billion default loans. According to BASIC Bank financial report-2014, the Bangladesh Bank had given it the ‘special waiver’. The report said the central bank had given BASIC the opportunity to keep Tk 19.33 billion in block account without keeping any provision for next ... Read More »

Economic achievement a result of AL government’s hard work : Joy

Prime Minister Sheikh Hasina’s ICT Adviser Sajeeb Ahmed Wazed Joy has given credit to the Awami League government’s ‘hard work’ for Bangladesh climbing up in the ranking of global economy, reports bdnews24.com According to the World Bank and International Monetary Fund’s outlook, Bangladesh moved 14 places up to 44th in past two years. The WB’s World Development Indicators Database and ... Read More »

Corporate tax to come down

Corporate tax paid by banks, insurance and financial institutions listed on stock exchanges is coming down in the news fiscal year beginning on July 1, reports bdnews24.com   Finance Minister AMA Muhith proposed to cut the tax while presenting his Tk 3 trillion national budget for 2015-16 in Parliament on Thursday. Business groups have been strongly lobbying for a cut ... Read More »

Cabinet approves Muhith’s budgetCabinet approves Muhith’s budget

The Cabinet has approved the Tk 2.95 trillion national budget for 2015-16, reports bdnews24.com Finance Minister A M A Muhith placed the budget for the cabinet’s approval on Thursday. The cabinet cleared it in a meeting chaired by Prime Minister Sheikh Hasina. Muhith proposes to fund two-thirds of this jumbo budget, the biggest in Bangladesh’s history, with sharp increase in ... Read More »

9 finance ministers place 43 budgets

businessnews24bd.com Bangladesh achieved independence after a nine-month bloody war against Pakistan in 1971. Father of the Nation Bangabandhu Sheikh Mujibur Rahman returned home and formed a government led by him. Later, step by step, total nine finance ministers placed 43 budgets in the country successfully. Tajuddin Ahmed, the first Prime Minister of Bangladesh who led the wartime Provisional Government during ... Read More »

WiMAX losing to mobile internet

WiMAX operators have been losing out since more people are using internet on their mobile phones Wireless broadband operators have lost more than one third of their customers in one year, says a report released by the Bangladesh Telecommunication Regulatory Commission (BTRC) on Sunday. The fact was revealed after analysing the number of internet users by six mobile-phone operators in the BTRC ... Read More »

BB raises EDF to $2bln to aid exporters

The Export Development Fund (EDF) has been raised to $2 billion by the Bangladesh Bank, said its Forex and Treasury management general manager Kazi Saidur Rahman, reports bdnews24.com This means the EDF allocation has been raised by $0.5 billion over the previous allocation, perhaps the highest in recent years. “The increase in EDF allocation follows growing needs of the exporters ... Read More »

BD to build fighter planes in future, hopes PM

businessnews24bd.com Spelling out her government’s stride for further strengthening and modernising Bangladesh Air Force, Prime Minister Sheikh Hasina on Wednesday expressed firm optimism that Bangladesh would build fighter planes in future. “I hope that we would be able to build fighter planes in our own initiative in future Insha Allah,” she told the induction ceremony of L-410 Transport Trainer Aircraft ... Read More »

GDP growth could have crossed 7 pc: PM

businessnews24bd.com Terming the attainment of 6.51 percent GDP growth for the current fiscal year (FY15) a big achievement despite the political turmoil, Prime Minister Sheikh Hasina said on Thursday the GDP growth this year could have crossed 7 percent had there been no political turmoil from January to March. “I had firm the belief we could have gained over 7 ... Read More »

ECNEC approves 8 projects costing TK 1,591cr

businessnews24bd.com The Executive Committee of the National Economic Council (ECNEC) today approved eight development projects involving Taka 1,591 crore including one for strengthening the capability of Bangladesh Coast Guard. “Enhancement of Operational Capability of Bangladesh Coast Guard” project would help strengthening its surveillance activities in the country’s inland water and maritime boundaries to thwart any kind of illegal activities as ... Read More »