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Economy

BAFEDA new body formed

The election of Office Bearers (Executive Committee) for next term for the years 2017 and 2018 of Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) was held on 28 December 2016 in the conference room of the Association (on 11th floor of Eastern Commercial Complex), 73, Kakrail, Dhaka. Mr. Mohammed Nurul Amin, Managing Director & CEO of Meghna Bank Ltd. was unanimously bafeda-7re-elected as Chairman of BAFEDA. Mr. Md. Abdus Salam, CEO & Managing Director of Janata Bank Limited and Mr. Md. Ataur Ra...

Govt-ADB to ink $ 167m loan deal for gas sector

The government will sign with the Asian Development Bank (ADB) $167 million loan agreement for financing a project to improve infrastructure and operational efficiency of the country’s gas sector. Last month, the ADB approved the loan amount to help promote sustainable economic growth and reduce poverty in Bangladesh by improving production efficiency at a key gas field, north of the capital Dhaka, and by expanding transmission infrastructure, reports BSS. Senior Secretary of the Economic Relations Division (ERD) Mohammad Mejbahuddin and ADB adb1

Shop owners urged to use ECR

National Board of Revenue (NBR) Chairman Nojibur Rahman today urged the businesspeople to use Electronic Cash Register (ECR) to collect Value Added Tax (VAT) and deposit it to exchequer properly. “Modernize your accounting system, use ECR and if you face any problem, contact NBR online, we are with you,” the NBR chairman told businesspeople while visiting Bashundhara shopping nbr 222mall in the city on the occasion of National VAT Week that began on December 9. He said VAT week is actually a week to give VAT collectors and ...

Bangladesh Bank responsible, says Philippines bank

The Philippines bank through which $81 million stolen from Bangladesh’s central bank was channeled in February said on Tuesday that the Bangladesh central bank was responsible for the heist, and so any liability should not be passed on. Manila-based Rizal Commercial Banking Corp (RCBC) was responding to comments by a Bangladeshi investigator that some Bangladesh Bank officials deliberately exposed its computer systems and enabled hackers to steal the money from its account at the Federal Reserve Bank of New York. Bangladesh Bank had been demanding that RCBC compensate it for the loss, blaming it for i

FSM Convention explores new horizon in development

Bangladesh Faecal Sludge Management Network (FSM Network) organised ‘FSM Convention 2016’ to share, learn and highlight national work and progress on faecal sludge management (FSM). The daylong conference took place today at the city’s LGED Auditorium of LGED Bhaban, with the aim of ensuring a safe and sustainable faecal sludge management system in Bangladesh for improved public health and living environment for all by 2030. A S M Mahbubul Alam, Director General and Additional Secretary (Monitoring, Inspection & Evaluation Wing), Local Government Division, was present as the chief guest while Mrs.

WB to finance BRT project

The World Bank has shown their interests to finance the Bus Rapid Transport (BRT) project, designed for quick transportation between Gazipur and Dhaka Airport which would take only 20 minutes. Road Transport and Bridges Minister Obaidul Quader said this to reporters after a meeting with the World Bank representative led by acting World Bank country director Rajsree Palongkar at the conference room of his office in Dhaka on Sunday. “We have asked the concerned authority to start the project work soon as the World Bank is wb
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