Economy

Leather village to be set up in Mirsarai Economic Zone

  

Pns: A leather village will be set up at Mirsarai Economic Zone (EZ) to regain the lost heritage of leather industry in the region. Feasibility study on establishing the leather village will begin very soon. Bangladesh Economic Zones Authority (BEZA) is establishing the Mirsarai EZ, the first self-contained economic zone in the country, on an area of about 30,000 acres of land in Mirsarai incorporating park, sea-port, residential area, power plant, hospital, school and...

Cattle smuggled from India harming economy of Bangladesh: Border guards

  

Pns: Cattle smuggled from India is harming the economy of Bangladesh, a senior officer of Border Guards of Bangladesh said on Saturday and formally requested the Border Security Force (BSF) to stop it. “Actually it (cattle smuggling is harming our economy. If it doesn’t come from India then our dairy farmers can go up and we can take care of ourselves,” BGB Region commander addl director general Md Zahid Hasan told reporters here. He said, “We have requested BSF to stop smuggling and...

Energy firms rally with oil but Asia markets struggle

  

Pns: A fresh rally in oil prices boosted energy firms in Asia on Wednesday although most equity markets struggled after two days of gains, while confidence was given a knock by fresh revelations regarding Donald Trump's Russia links. Crude, which has seen wild swings in recent months, has bounced back from last week's losses with gains of more than one percent Tuesday on bets that US stockpiles had fallen last week. Comments from the OPEC cartel that its output cuts with...

Russia upset by outside 'sabotage' of energy investments: Novak

  

Pns: Russia on Monday said its energy investments had suffered "sabotage" from political factors, pointing to troubles over expanding the Nord Stream pipeline that pumps gas to Germany. Speaking at the World Petroleum Congress in Istanbul, Russian Energy Minister Alexander Novak said energy demand was set to grow in the coming years and it was essential that supplies not be hampered by politics. But he said: "We have often in recent times encountered artificial limits on the...

IRRI forecasts stable market for rice

  

Pns: People in rice consuming countries like Bangladesh will have more comfort in managing their living cost as the International Rice Research Institute (IRRI) predicted a stable market for the staple food grains."The 2007-08 rice price spike seems like a distant dream now considering the calmness in the rice market in the past few years despite El Ni o and other weather-related scares", said an IRRI report published recently. The report attributed the stability to the record...

New VAT law to shoot up essential prices

  

Pns: Consumers will be affected by soaring prices of essentials due to the 15 percent uniform VAT on all products and services under the new value-added tax (VAT) law that will come into effect from July 1. Consumers and businesses fear that implementation of the new VAT law will push up the cost of living. They said after the implementation of new law, there will be no tariff facilities for around 30 products. Price of products like rod, milk powder, and hand-made biscuits...

China's manufacturing growth slowed in April

  

Pns: Official data showed growth in China's manufacturing sector slowed in April, pointing to an unsteady recovery in the world's second-largest economy.The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing fell to 51.2 in April, lower than the 51.8 recorded in March. The index is based on a 100-point scale on which numbers above 50 indicate expansion. April's figure released Sunday still represented a ninth consecutive month of...

BB postpones agriculture credit recovery in haor areas

  

Pns: Bangladesh Bank (BB) today postponed agriculture credit recovery from haor areas across the country due to huge damages in the area by flashfloods."The credit recovery remains postponed until the situation is improved," according to a circular issued by BB here on Monday, BSS reports.BB also asked the banks to provide facilities for re-scheduling the credit through relaxation of down payment or easy installment.BB also instructed the scheduled banks to provide new credits in...

Rajuk evicts roadside structures in Gulshan

  

Pns: The Rajdhani Unnayan Kartripakkhya (RAJUK) on Sunday evicted the illegal roadside establishment from Shahjadpur to Baridhara in the capital's Gulshan area. Executive Magistrate of RAJUK Md Nasir Uddin led the drive and evicted some 50 shops and shanties. The drive began around 11am on Sunday. After several meetings with Dhaka North City Corporation Mayor Annisul Haq, both parties agreed to settle the dispute. "The road now will be opened to the traffic. City Corporation will...

Affected haor families to get 30 kg rice, Tk 500 cash

  

Pns: The government will provide 30 kgs of rice and Tk 500 cash every month under a 100-day scheme to each affected family of disaster-hit haor areas, said Disaster Management and Relief Minister Mofazzal Hossain Chowdhury Maya on Sunday. "The government has taken a 100-day scheme to provide relief to 3,35,000 families of the flood-ravaged haor region, and each family will get 30 kgs of rice and Tk 500 as emergency support," said Maya. The minister came up with the information while talking...

Developed by Diligent InfoTech