Ln Mizanur Rahman honoured

Ln Mohammad Mizanur Rahman, Charter President of Lions Club of Dhaka Dilkusha Green has been awarded for electing Cabinet District Chairperson of Lions Clubs International, District 315 A1, Bangladesh for his outstanding success as the club president. Ln Hasan Mahmud, 1st Vice-President of the Club awarded Ln Mizanur Rahman by handed over a bouquet at the board meeting held in the city recently, says a press release. LionsMentionable here that Lions Club of Dhaka Dilkusha Green has been wor...

Bangladesh key economic indicators – Dec 2

DAILY INDICATORS

Sunday Previous Taka/US $ (inter-bank) 77.75-77.75 77.75-77.77 Call money rate (inter-bank) 06.00-07.75 05.50-07.75 Dhaka Stock Exchange index 4,147.21 4,230.66 ------------------------------------------------------------ indicator MONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13 M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Nov. 17.11 17.35 Exports(FOB) ($mln)(BB) Sept. 2,590.24 2,031.44 Imports(FOB) ($mln)(BB) August 2,658.00 3,125.00 -------------------...

Release of GMO crops threats $ 600m agro export

 The government move to approve genetically modified organism (GMO) crops will put agricultural export worth $600 million at risk amid likely embargo by the importing nations especially in the EU and Middle East, exporters and officials concerned said. The government is in a hurry to approve GMO crops like rice, brinjal, and potato and release those in the country. Last month, the National Bio-Safety Committee approved genetically engineered varieties--- 'Golden Rice' and potato. Earlier the government approved four varieties of Bt Brinjal, the controversial GM crop banned in India and the Philippines.

NBR to trace out tax-evading land buyers in metropolis

The National Board of Revenue (NBR) is going to trace out those who have bought a land at over Tk 10m in the country’s any metropolitan city but evaded paying taxes. This type of tax dodgers either did not register with TIN or showed less than actual price of land in tax file, said NBR sources. The central intelligence cell of NBR has also been involved in the collection of information about those land purchasers without paying taxes particularly in posh areas such as Gulshan, Banani and Baridhara in the capital, reports the Dhaka Tribune. “We are now collecting information from the sub-registry offices about such tax dodgers,” said an official. <...

MBL inks deal with GP

Mercantile Bank Ltd (MBL) signed an agreement with Grameenphone Ltd (GP) recently. MBLUnder the agreement, MBL will provide Mobile Banking Services ‘MYCASH’ to its customers via Grameenphone’s MobiCash distribution network, said a press release here on Sunday. M Ehsanul Haque, Managing Director and CEO of Mercantile Bank and Vivek Sood, Chief Executive Officer of Grameenphone signed the agreement on behalf of their respective organisations.

IMF approves $ 140.4m payout under ECF arrangement

The Executive Board of the International Monetary Fund (IMF) completed the third review of Bangladesh’s economic program under a three-year arrangement supported by the Extended Credit Facility (ECF). The Board’s decision enables the immediate disbursement of an amount equivalent to SDR 91.423 million (about $140.4 million) to Bangladesh. This would bring total disbursements under the arrangement to SDR 365.692 million (about $561.4 million), says an IMF press release. The three-year ECF arrangement for Bangladesh was approved by the Executive Board on April 11, 2012 (see Press Release No. 12/129) for a total amount equivalent to SDR 639.96 million (about US$982.5 million), or 120 percent of quota.