Committee to probe NBP’s scam during Bangladesh operation
Pakistan’s National Assembly''s Standing Committee on Finance has constituted a committee on Rs 11 billion losses of National Bank of Pakistan (NBP) during the Bangladesh operation. The Committee was informed by senior NBP officials that a forensic report of losses that occurred during the Bangladesh operation would be completed by mid of the next month for its submission to the committee. The Committee decided to constitute a sub-Committee to probe the said scam in Bangladesh under the chairmanship of Qaiser Ahmad Sheikh with directives to submit its findings within 45 days from the date of its first meeting.
Bangladesh Bank warns of jail for Bitcoin traders
Bangladesh’s central bank on Monday warned against dealing in Bitcoin, saying anybody caught using the virtual currency could be jailed under the country’s strict anti-money laundering laws.
The Bangladesh Bank, which regulates the impoverished country’s banking industry, said it issued the order after reports in local media of Bitcoin transactions through various online exchange platforms.
“Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto currency is a punishable offence,” the bank said in a statement.
Bank of...
The Bangladesh Bank, which regulates the impoverished country’s banking industry, said it issued the order after reports in local media of Bitcoin transactions through various online exchange platforms.
“Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto currency is a punishable offence,” the bank said in a statement.
Bank of...
Fish farming loses tax privileges
The National Board of Revenue yesterday withdrew tax privileges for fish farming to rein in tax-dodging by a section of dishonest taxpayers who allegedly shift income from other sources to fisheries to evade tax.
The existing tax rate of 3 percent on income from fish cultivation will no longer be effective, the NBR said in a notice. Income from the sector will be subject to normal tax rates, it said.
“It means the tax rate for companies involved in fish farming will be 35 percent. And individuals having income from fish cultivation will pay tax at normal rates depending on their income levels,” an NBR official said, asking not to be named, reports the Daily Star.
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Possibility of agroforestry in Bangladesh
Imagine a forest that is not really a forest, but a multi-layered garden reaching up more than 10 meters. It produces more than 25 times as much income as the rice it usually replaces and forms a ‘canopy’ that provides a home for endangered plants and animals.
It’s a dream, right?
No. Such three-dimensional agroforestry farms already exist. And in Bangladesh, which has already lost more than 90 percent of its forests, these farms may offer a chance to buy time for what forest is left.
What if the same land could grow more food, and at the same time create something that at least vaguely resembles a forest?
Algae company partners with Bangladesh fish feed venture
Algae company OriginOil is partnering with Algasol Renewables on a large-scale algae fish feed production venture.
The company has developed in the past a Electro Water Separation (EWS), a high-speed, chemical-free process to clean up large quantities of water; and it is planning to provide the technology to the low-cost algae growth system from Algasol Renewables.
The integrated system will launch at Algasol’s new facilities in Bangladesh — a large-scale demonstration of micro-algae production for fish feed.
“With our technology showcase in...
The integrated system will launch at Algasol’s new facilities in Bangladesh — a large-scale demonstration of micro-algae production for fish feed.
“With our technology showcase in...
Exports bounce back, up 7 pct in August
Bangladesh exports in August rose 7.25 percent from a year ago to $2.16 billion, government data showed on Sunday, driven by an increase in readymade garment exports and ending a brief slowdown in July.
Exports fell 1.4 percent in July from a year earlier, the first decline since August 2012. The August figures were still 17.5 percent below the government’s monthly target.
Readymade garments, comprising knitwear and woven items, fetched $4.23 billion in July and August, the first two months of the current financial year, compared with $4.16 billion...
Readymade garments, comprising knitwear and woven items, fetched $4.23 billion in July and August, the first two months of the current financial year, compared with $4.16 billion...
