ADB plans to ‘double its lending to Bangladesh’

The Asian Development Bank (ADB) is planning to almost double its loan size to $1.8-$2 billion for Bangladesh this year as its economy is growing fast…

Rights groups emphasise direct taxes over VAT

Terming the VAT (value added tax) as regressive, rights groups yesterday alleged that the government has been embarking on this with IMF (International Monetary Fund) prescriptions, reports UNB. There should be more emphasis given on direct tax instead of VAT, which is indirect tax, they said while…

Upward trend of fuel prices may present BPC with losses next year

State Minister for Power, Energy and Mineral Resources Nasrul Hamid yesterday apparently ruled out the possibility of cutting fuel prices by saying that Bangladesh Petroleum Corporation (BPC) may face loss in the next fiscal year, if the current upward trend of fuel prices continues in the international…

Muhith against any ADB regional hub in New Delhi

Finance Minister AMA Muhith yesterday rejected the idea of setting up a regional hub of the Asian Development Bank (ADB) for South Asian countries in New Delhi, reports UNB. “I’m not in favour of the regional hub because the country and the sub-regional offices of ADB are doing well except…

Gas connection expansion not to be realistic, says Nasrul

State Minister for Power, Energy and Mineral Resources Nasrul Hamid yesterday told Parliament that it will not be realistic to expand the gas connection network to new districts right now, reports UNB. "At present, the supply of gas against its demand is insufficient. Under this circumstance, the…

India’s new property law seeks to protect home buyers

AFP, GREATER NOIDA: In 2010, Neena Nagpal and her husband spent their life savings on a flat outside Delhi that was never built. Now, a new law…

Mozambique’s gas boom dream under threat

AFP, PALMA: The small, palm-fringed fishing town of Palma was meant to become a symbol of Mozambique’s glittering future, transformed by one of the world’s largest liquefied natural gas projects. But construction has fallen far behind schedule and the town’s fate is uncertain…

Fancy a noodle burger? East meets West in Indonesian fusion food

AFP, JAKARTA: From a restaurant serving burgers and pizzas made with local noodles to a social media star giving street food a touch of haute cuisine,…

Zcash, the virtual money making its mark

AFP, NEW YORK: Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection. But the new virtual money could face a tough battle integrating into the wider financial system. After debuting on currency…

Stocks open week flat, transaction declines

Stock markets opened the week flat yesterday when daily transactions declined on lower demand, reports BSS. The boarder DSEX index of Dhaka Stock Exchange…

Zuckerberg’s plan to create non-voting Facebook shares is going to trial in Sept

Facebook shareholders seeking to block Mark Zuckerberg’s plan to create a new class of non-voting stock will have their day in court, reports The Business Insider. A trial for the lawsuit challenging the plan is on the calendar and is set to kick off on September 26, 2017, Facebook revealed…

Extortion by REB contractors totally unacceptable

Bangladesh Rural Electrification Board (REB) Chairman Moin Uddin said extortion by REB contractors was totally unacceptable. “It was totally unacceptable when extortion allegations brought against certain REB contractors and their accomplices by its clients were proved to be true,”…

Pubali Bank gets new DMD

Mukhtar Ahmed has recently been appointed as deputy managing director (DMD) of Pubali Bank Ltd, the bank said in a press statement yesterday. Prior to the appointment, he was senior executive vice president of NCC Bank Ltd. He started his banking career as probationary officer in United…

MoU signed to distribute SIMs among students getting stipend

Higher Secondary Stipend Project (HSSP) of Education Ministry today signed a Memorandum of Understan-ding (MoU) with state-owned telecom operator Teletalk to distribute mobile phone SIM cards free of cost among the stipend-awarded students recently, reports BSS. HSSP Director Shyama Prasad Bepari and…

Afghanistan gets first 4G communications network

Afghan Wireless Communication Company (AWCC) Afghanistan's first mobile communications company, announced the launch of the Afghan Wireless 4G/LTE Network--Afghanistan's first and only World Class, 4G/LTE communications service, reports AsiaNet. Kabul City will be the first location in Afghanistan…

Myanmar, France agree to enhance cooperation

Xinhua, YANGON: Myanmar and France have agreed to enhance trade, technical and investment cooperation between major business organisations of the two countries, the official media reported yesterday. According to a memorandum of understanding (MoU) signed between the Union of Myanmar Federation of Chambers…