Business

Poor loan recovery rate puts project in trouble

  

Pns: The rate of loan recovery from the revolving fund of ‘One House One Farm’ project looks to be low as it notched 44.78 per cent on average creating delaying the process in providing loan to other borrows, reports UNB. This was revealed in a monitoring report on the project conducted by the Imple-mentation, Monitoring and Evaluation Division (IMED) of the Ministry of Planning.Some 40,333 village-development Samities (cooperatives) have already been formed under the project...

Uber boss to meet London transport chief to regain licence

  

Pns: Uber’s chief executive will meet London’s transport commissioner next week, as the global ride-hailing app tries to win back its licence to operate in the UK capital. Dara Khosrowshahi, who took over the in the role a month ago, will meet the Transport for London boss, Mike Brown, on Tuesday, 10 days after the regulator said it would not renew Uber’s private-hire licence.TfL said Uber was not a “fit and proper” company to hold a licence, citing its conduct and approach in...

Muhith rules out WB’s GDP growth forecast

  

Pns: Economists have expressed mixed reaction over the remarkable gap in the GDP growth projections by the Asian Development Bank (ADB), World Bank (WB) and the government. In his budget speech, finance minister AMA Muhith set a target of 7.4 per cent GDP for the current fiscal year, while the WB projected 6.4 per cent and the ADB 6.9 per cent for FY18.Just after the release of the Bangladesh Development Update September 2017 by the Washington-based global lender, Muhith ruled...

Merger with Idea on track for completion in 2018: Voda CEO

  

Pns: The merger of Vodafone India and Idea Cellular is on track and is expected to be completed in calender year 2018, a top Vodafone official said today. Vodafone India MD and CEO Sunil Sood said "absolutely", when asked if the merger of the two telecom firms is on course.He spoke on the sidelines of India Mobile Congress here.Stating that the merger process goes through various stages, including approvals from the CCI, Sebi, the NCLT and the telecom department, Sood said...

ADB foresees Bangladesh GDP growing by 6.9pc in FY2018

  

Pns: The Asian Development Bank (ADB) forecasts the Bangladesh GDP to grow by 6.9 per cent in FY2018, according to the Asian Development Outlook (ADO) 2017 released yesterday. The foreseen rate remains unchanged from the AOD prediction for FY2017, but falls slightly below the preliminary official estimate for the period because of weak domestic demand.Private consumption is likely to stay at the current level as income growth has lost pace in agriculture and wage employment and...

Muhith for friendly relations between tax collectors, taxpayers

  

Pns: Finance Minister AMA Muhith today called for strengthening further the friendly relations between tax collectors and taxpayers to expedite the collection process for fulfilling the revenue target of fiscal 2016-17. "We collect tax for providing services. In this way, we will bring prosperity in the country. There are rewards for the tax collectors to encourage them for becoming friends of the taxpayers," he said while speaking as the chief guest at the "Income Tax Camp and...

Australia urged to set up EPZ

  

Pns: International Chamber of Commerce Bangladesh (ICCB) called on Australia to set up an export processing zone in Bangladesh and take the advantage of the facilities extended by the government, reports BSS. In a meeting with officials of Austrade in Sydney, ICCB President Mahbubur Rahman made the call saying South Korea has already set up an export processing zone in Bangladesh, while exclusive export processing zones are also going to be set up by China, India and Japan.The...

BD seeks $250 mn from WB to help Rohingyas

  

Pns: The government has sought 250 million dollar from the World Bank to provide health services to the Rohingyas who fled to Bangladesh amid persecution in Myanmar's in Rakhain State. Bangladesh will succeed in helping the Rohingya people as it had overcome other crisis moments in the past, said State Minister for Health Zahid Malik told reporters after a meeting on Bangladesh's preparedness and World Bank's assistance in disaster and epidemic management at the secretariatThe...

DSE, CSE down at opening

  

Pns: The prices of most of the share at the country's both bourses - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) - witnessed downward trends from early hours of trading on Sunday. After first one-hour trading of the opening session of the week, DSEX, the benchmark index of the DSE, shed over 4.60 points or 0.07 percent to 6,165.86 at 11:41 am.But, the DSE Shariah Index (DSES) went up by 0.52 points or 0.03 percent to 1,362.41. The DS30 index, comprising blue...

Petrol prices pumped up in Pyongyang

  

Pns: Petrol prices are being pumped higher in Pyongyang in the wake of United Nations sanctions restricting exports of oil products to nuclear-armed North Korea. Retail prices have gone up around 20 percent in two months, AFP saw in the capital -- and are now more than double what they were at the beginning of the year. Two weeks ago the UN Security Council imposed its eighth set of sanctions on the North in an effort to rein it in following its sixth nuclear test, which Pyongyang...

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