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Stocks fall for ‘unfriendly budget’

Stocks fell 2.03 percent in the first two and a half hours of trading at Dhaka Stock Exchange today as investors went for a selling spree following what they said “unfriendly budget” for the capital market. dse-logo_2DSEX, the key index of the DSE, went down 89 points to stand at 4,307 points till 1:00pm. “Budget cannot be said capital market friendly” LankaBangla Securities, a stockbrokerage, commented on its budget analysis for 2014-15. “Few measures were discouraging. Especially capital gain tax introduction on individual level is...

Mobile courts to free rivers from encroachers

Shipping Minister Shahjahan Khan on Sunday said mobile courts will be launched to free rivers from encroachers in addition to checking pollution. The minister made the disclosure at the second meeting of the taskforce committee formed to prevent encroachment and pollution of rivers and maintaining their navigability. river grabbingShahjahan Khan said Bangladesh Inland Water Transport Authority (BIWTA), led by a magistrate, would launch the mobile courts which will take immediate action against the encroachers and the polluters. “No one wi...

PPC to decide LNG terminal project’s fate: Petrobangla

The fate of the longstanding LNG terminal project is likely to be decided at a meeting of the Project Processing Committee (PPC) on Monday, said Petrobangla chairman Dr Hussain Monsur. The Petrobangla chairman said that they received a term-sheet of US-based consortium of Astra Oil and Excelerate Energy last month about the project. After the scrutiny, he said, it was put forward to the Energy Ministry to place it at the PPC meeting. The PPC is an inter-ministerial body formed comprising representatives from different ministries, including the Ministry of Finance, Ministry of Law and also the Bangladesh Bank.

Tk 67,552 crore deficit main challenge for budget implementation: CCCI    

Chittagong Chamber of Commerce and Industry (CCCI) Mahbubul Alam on Friday observed that the main challenge for the implementation of the budget proposed for the fiscal 2014-15 will be to cope up with the projected deficit of Tk 67,552 crore. CCCIThe observation came through a press release issued following the placement of the Tk 2,50,506 crore budget by Finance Minister AMA Muhith on Thursday. He, however, said that the budget’s priority on human resources development, agriculture, power and energy and communication sectors will play significant ...

Money-whitening scope to go

Finance Minister AMA Muhith on Friday said the upcoming budget will not offer any opportunity to legalise black money, although he mentioned nothing about the controversial provision in his budget speech. MuhithSpeaking at a post-budget press conference in the capital’s Osmani Memorial Auditorium, the minister said the government had offered the opportunity to legalise black money for investing in stock market and housing sector. “Tk 34 crore has been whitened in the last budget. From that point of view, there is no black money in the country,” ...

New budget a luxury of target: CPD

Centre for Policy Dialogue, a social think-tank, on Friday termed the proposed budget for next fiscal 2014-15 a ‘luxury of target’, saying it will be impossible to archive 7.3 percent GDP growth if political stability is not ensured and private investment is not increased to 25 percent of the GDP. CPD1It mentioned that at present, private investment is 4-5 percent of the GDP. If it is increased to 25 percent, about $9.5 billion will need to be put in place. “The luxury is sometimes OK, but it is not matchable with our capacity in the current perspective,” sa...
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