Bank interest on house loan should be lowered to single digit as housing is one of the basic rights of the citizen. Housing and Public Works Minister Engineer Mosharraf Hossain came up with the observation while speaking as the chief guest at the inaugural ceremony of REHAB summer fair-2015 at the Bangabandhu…

A 4 per cent value added tax (VAT) has been proposed on the trading of online goods and services (e-commerce) in the budget for the fiscal year 2015-2016. Due to this, the sector will probably face a decline in growth and development in the coming year, warns BASIS E-Commerce Alliance. Members of BASIS…

The Executive Committee of the National Economic Council (ECNEC) yesterday approved eight development projects involving Tk 1576.32 crore including a project ‘to develop some 1557 km district roads under 10 zones to ensure safe road transport communication across the country.’ The endorsement…

Industries Minister Amir Hossain Amu yesterday put emphasis on enhancing the standard of health services to discourage people's tendency to go abroad spending huge foreign currency, which the minister termed as 'shame for the nation,' reports BSS. "People's living standard has gone…

The air travel tax has been increased by Tk 200 to Tk 500 depending on destinations effective from June 4, says a Biman Bangladesh press release. The travel tax for domestic routes and Saarc countries were increased by Tk 200 to Tk 700 from existing Tk 500 while for Asian countries and other global…

Women entrepreneurs of the country are facing hassles at the customs check posts while crossing the border with neighbouring India due to inadequate infrastructure and poor facilities which hurts cross-border trade with India. Selima Ahmad, president of BWCCI, came up with the observation while speaking…

Bangladesh and Tajikistan have agreed to boost bilateral trade and economic cooperation to mutual benefit for the people of the two countries, reports UNB. Mentioning the friendly and brotherly relationship with Tajikistan, Bangladesh State Minister for Foreign Affairs M Shahriar Alam stressed the joint…

Stock market extended the losing streak yesterday amid falling turnover when most of the traded issues closed lower at both Dhaka and Chittagong stock exchanges, reports BSS. At Dhaka Stock Exchange (DSE), 170 issued suffered loss across the board as the turnover value and volume declined by 20.19 per…

AFP, SEOUL: US hedge fund Elliott Associates LP said yesterday it was taking legal action to block the proposed merger by Samsung Group of two major affiliates. The planned merger, which would see Cheil Industries acquire Samsung C&T Corp through an all-stock deal, is the latest in a series of moves…

AFP, BEIJING: China will ultimately have “veto power” over major decisions of the new Beijing-led Asian Infrastructure Investment Bank, the Wall Street Journal reported yesterday. The AIIB, which will be based in the Chinese capital, has 57 prospective members, but the United States and…

It is vital to disseminate helpful information to farmers timely with the help of ICT to save their time and cost, speakers at a roundtable said. They came up with the observation at a roundtable discussion on the role of ICT in agricultural expansion in the capital recently, says a press release. Now…

AFP, BEIJING: Chinese inflation fell to 1.2 per cent in May, data showed yesterday, as Beijing struggles to boost consumer spending while analysts tipped further stimulus measures on top of the three interest rate cuts since late 2014. The reading for the consumer price index (CPI), the main gauge of…

Xinhua, RUSSELS: The European Commission welcomed a regulation, which caps interchange fees for card payments, entering into force on Monday, and said the new rules will facilitate market entry of new players and benefit both retailers and consumers. The commission said the Interchange Fee Regulation…

AFP, TOKYO: The dollar was steady against the yen yesterday after it was dragged down in response to media reports, later denied, that US President Barack Obama had expressed concerns about the surging greenback. In Tokyo afternoon trade, the US unit fetched 124.45 yen, against 124.47 yen in New York…

AFP, LONDON: Scandal-hit bank HSBC said yesterday it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its HQ. The Asia-focused lender added in a statement that it intended to save up…

AFP, SEOUL: North Korea's food production is forecast to fall by up to 10 per cent this year due to a  prolonged drought, which has battered its traditional rice belt, a South Korean government report showed yesterday. If the shortage of rainfall lasts until early July, the North's crop…

AFP, BERN: Negative interest rates represent a major challenge for Swiss banks, particularly in trying to defend their profit margins, UBS chairman Axel Weber said Monday. Weber told a debate in Bern that the introduction of negative interest rates in Switzerland in January was forcing changes to the…

Khan Samiuzzaman, founder of Organika, a company that seeks to help physically disabled people in Bangladesh by providing them ultra-affordable, articulated and fully customisable 3D printed prosthetic limbs and orthotic support being provided at low cost. He is also the co-founder of a media production…