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Bangladesh-China trade gap needs to be paired: PM

Prime Minister Sheikh Hasina on Monday said the trade gap between Bangladesh and China needs to be balanced as Bangladesh wants to achieve prosperity with the help and support of its friends, especially China. “Our trade reflects Bangladesh’s import of goods of over US$6 billion from China and exports of less than half a billion dollars to China. This trade gap needs to be balanced,” she said. sheikh-hasina_25Hasina was delivering her speech at a seminar on Socio-Economic Achievements of Bangladesh in Recent Years and Partner...

Money changers asked to file detailed forex reports  

The Bangladesh Bank (BB) has asked all money changers of the country to submit detailed reports on purchase and sale of foreign currencies to the BB to ensure more transparency in transactions. The foreign exchange department of the BB has already amended the existing format of submitting reports asking all money changers to submit those accordingly from the current month. The money changers, who buy and sell foreign currencies, used to submit monthly reports in consolidated figures, reports the FE. Bangladesh BankSuch a ty...

Sushma set to tour Bangladesh this month

The Indian foreign minister Sushma Swaraj is likely to visit Bangladesh this month-end in her what could be her first stand-alone bilateral visit to a South Asian country since assuming charge. She is expected to visit Bhutan with PM Narendra Modi before that. While dates of Swaraj's visit are yet to be finalized, indications are that she will go to Dhaka on June 26. sushma1-620x350 The external affairs ministry spokesman said Swaraj was going to a neighbouring country this month but did not specify the country and the dates. ...

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...

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...

Tk 2,50,506 crore budget with 67,552cr in deficit  

The finance minister, Abul Maal Abdul Muhith, in the parliament on Thursday proposed a budget of Tk 2,50,506 crore for the 2015 financial year, with a deficit of Tk 67,552 crore, or 5 per cent of the gross domestic product, which could go up as resource mobilisation looks ambitious. The minister proposed wide direct and indirect taxes aimed for both the ordinary people and the rich while giving a breather to most industries. Budget2The budget outlay is 16 per cent more than the revised budget of the outgoing financial year. The growth of the ...
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