ADB approves $500m loan for 800mw Khulna plant The Asian Development Bank (ADB) will provide Bangladesh with US$500 million in loan to help build a state-of-the-art 800 megawatt (MW) power plant in Khulna. Part of the loan will also be spent for linking it up with natural gas and power transmission facilities. Board of Directors […]
Shrimp gradually losing global market share Bangladesh’s shrimp is gradually losing global market share because of declining production of local species and failure to introduce farming of small-sized vannamei, experts said. Exports of locally-produced shrimp have declined to $446 million in fiscal year (FY) 2016-17 from $550 million in FY 2013-14, they pointed out. The […]
Solar power capacity reaches 218MW Bangladesh witnessed a 27 percent year-on-year jump in the number of solar home systems installed last year, thanks to a drop in the production cost aided by technological advancement. By the end of 2017, the country installed 5.2 million SHSs, which are stand-alone photovoltaic systems that offer a cost-effective mode […]
Higher penalty for noncompliance Corporate taxpayers will have to pay more in fine from the next fiscal year for noncompliance, which includes non-submission of return on withholding tax and a statement on employees’ filing, according to a proposal of the National Board of Revenue. The tax authority is seeking to raise the fine by 10 times […]
Apparel exports to Asian markets on the rise Garment shipments from Bangladesh to its major Asian markets—India, China and Japan—are rising by the day thanks to competitive prices the country offers and spiralling production cost in China. Bangladesh’s strength in formal garment production and higher economic growth in populous Asian countries have also helped such […]
Crisis in banks to drag on if steps not taken: CPD The crisis in the banking sector will linger unless the government takes effective measures to tackle the growing trend of financial scams and bad loans, said analysts yesterday. They made the observations at a discussion on the proposed budget organised by the Centre for […]
ADP spend far away from target Ministries and divisions face an uphill task in June as they will have to spend about one-third of the development budget in one month to reach the government’s ambitious ADP target. In the first 11 months of the outgoing fiscal year, they together spent Tk 98,978 crore against the […]
Zina Tasreen AIIB bullish on Bangladesh Bangladesh is progressively becoming one of the more important countries for the Asian Infrastructure Investment Bank, with the China-led multilateral lender looking to bankroll energy and transport projects in the country. “We are very bullish on Bangladesh,” Dong-ik Lee, director general of investment operations of the AIIB, told The […]
Syed Moazzam Hossain, President of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), presenting the bouquet to Malaysian Delegation leader Dato’ Tan Seng Sung of TC Management Service Corporation at BMCCI Office in the city on Monday. Senior executives from both the organizations were present. Syed Moazzam Hossain, President of Bangladesh-Malaysia Chamber of Commerce and Industry […]
Trump Kim summit: US and North Korean leaders hold historic talks Donald Trump and Kim Jong-un have become the first sitting US president and North Korean leader to meet, an unprecedented development after a year of exchanging threats. The pair shook hands at a luxury hotel on Singapore’s Sentosa island before proceeding to talks. After […]