Finance Minister Abul Maal Abdul Muhith yesterday proposed Tk 16,864 crore in the national budget of FY 2015-16 for road transport and bridges ministry with special focus on completing the construction of the Padma Multipurpose Bridge by 2018, reports BSS. “We expect to open this bridge for traffic…

Finance Minister yesterday said the government has formulated a 20-year Master Plan for the development of the country’s railway system, reports UNB. “We’ve formulated a 20-year Railway Master Plan in the course of which Tk 2 lakh 33 thousand 946 will be spent for implementation of…

The government has earmarked Tk 12,699 crore as non-development and development expenditure for agriculture sector in the proposed national budget for 2015-16 fiscal year, reports BSS. Under the allocation, the government has allocated Tk 10,875 crore as non-development expenditure and Tk 1,824 crore…

The government has taken up several projects to establish housing funds to provide loans to the poor people in rural areas and to construct hostels/dormitories for the workers. Finance Minister AMA Muhith made the announcement while placing the national budget for 2015-16 fiscal at parliament yesterday.…

Finance Minister AMA Muhith, in his budget speech, yesterday said the government has taken a project to build a convention city under the public-private partnership (PPP). The city will be constructed about 25 miles away from the Dhaka metropolis and will be linked to Hazrat Shahjalal International…

Finance Minister AMA Muhith yesterday proposed an allocation of Tk 1,550 crore for the Ministry of Science and Technology in the budget for 2015-16 fiscal, reports BSS. Placing the budget in the Parliament, Muhith said, "We aim to develop a pool of scientists, technologists, researchers and educationists…

The prime index of Dhaka Stock Exchange (DSE) gained marginally amid increased participation from the investors on the day when Finance Minister AMA Muhith announced the budget for the fiscal 2015-16 yesterday. DSEX, the benchmark index of DSE, gained 4.58 points or 0.10 per cent to close at 4591.43…

AFP, TOKYO: The euro held its gains yesterday, bolstered by the European Central Bank’s upbeat inflation forecasts and hopes for a last-minute Greek bailout deal. In Tokyo afternoon trading, the common currency bought $1.1267 and 140.10 yen, against $1.1270 and 140.01 yen in US trade. Upbeat US…

AFP, WASHINGTON: New York’s powerful banking regulator Benjamin Lawsky said Wednesday that digital currencies like Bitcoin pose a major challenge, but should not be stifled. Lawsky, the outgoing superintendent of the state’s Department of Financial Services, said finance industry watchdogs…

AFP, GENEVA: Swiss prosecutors yesterday closed an investigation into allegations British banking giant HSBC’s Geneva branch helped clients evade millions of dollars in taxes, after the bank agreed to pay tens of millions in compensation. “We ended the procedure following a deal with the…

AFP, ROME:  The world’s major food commodity prices fell in May to the lowest level in nearly six years amid a favourable outlook for this year’s harvests, the Food and Agriculture Organisation said yesterday. The FAO food price index averaged 166.8 points in May, down 1.4 per cent…

Akram Hussain has been elected as chairman of Mercantile Bank Limited.   Hussain is the sponsor director of the bank, says a press release. He is the founder president of Bangladesh Paper Importers’ Association and Greater Noakhali Paper Merchant Multipurpose Samabay Samity Ltd., Director…

AFP, WASHINGTON: The Inter-national Monetary Fund yesterday called on the US Federal Reserve to put off its planned interest rate increase until 2016. The Fed "should remain data-dependent and defer its first increase in policy rates until there are greater signs of wage or price inflation than…

AFP, VIENNA: OPEC headed yesterday towards holding crude output levels on the eve of its production meeting, as oil prices slid back under $60 a barrel on concerns that the expected decision would further fuel oversupply. Ministers attending a two-day OPEC seminar before Friday’s output gathering…

AFP, WASHINGTON: It’s the billion-dollar question: is Greece going to repay the International Monetary Fund on time? Or will it, in the absence of a new deal with its official creditors, dare default on the global crisis lender which has joined two massive bailouts of the Greek economy? Athens…

Urban Truth, a local clothing brand and a venture of Pride Group, is the only brand that has successfully employed Instagram as a marketing medium through customer generated reviews and contents. Ever since Facebook bought Instagram, an online mobile photo-sharing, video-sharing and social networking…

AFP, CHABAHAR: Hundreds of containers lie idle in the scorching sun that pounds Iran’s southeastern port of Chabahar, a free trade zone crippled by decades of international sanctions. But against the backdrop of nuclear talks between Tehran and world powers, authorities hope foreign investors…