Business

Bangladesh Bank Governor Dr Ahsan H. Mansur has asserted that the central bank will not provide liquidity support or other facilities to weak banks anymore by printing money. “The depositors have the right to withdraw money from the ailing banks and the banks will be liable if they have lost confidence of their clients. If depositors withdraw money from a ...

A pilot scheme scrapping peak-time ScotRail fares will end in September following “limited success”. Transport Scotland said the project, which saw ticket prices subsidised by the Scottish government and standardised across the day, “did not achieve its aims” of persuading more people to swap car journeys for rail travel. Analysis by the body recommended ending the scheme due to financial ...

The National Board of Revenue (NBR) is contemplating to widen its tax net without making any move that would create forceful and fearful environment for the taxpayers. Currently 67 percent of the revenue collection comes from indirect taxes like customs duty and Value Added Tax (VAT). Rest of the collection comes from the direct tax like income tax. “We have ...

Metro Rail authorities have expressed their hope to resume train operations from Sunday (August 25) as employees, who have been observing work abstention since August 6, have joined work. Md Ahsanul Haque, senior secretary of road transport and highways division, visited Press Club Metro Rail station on Tuesday. After discussion, he directed the officials and employees to take necessary steps ...

Islami Bank Bangladesh PLC has dismissed the top eight officials, including six deputy managing directors (DMDs), who were identified as collaborators of S Alam Group, from the bank. The bank issued letters regarding dismissal and sent the letter to the officials on Monday (August 19). The dismissed officials are — additional managing director JQM Habibullah, deputy managing sirectors (DMD) Md ...

Over the past 15 years, the Awami League government has been accused of widespread corruption in Bangladesh’s electricity sector, particularly in the name of capacity charges. These charges, paid to power plants for maintaining readiness to generate electricity even when not in use, have allegedly funneled vast amounts of money into the hands of businesspeople with close ties to the ...

The Bangladesh Bank today ordered commercial banks to disallow cash withdrawals of more than Tk 3 lakh per account, up from the previous limit of Tk 2 lakh. A senior central bank official said security concerns have been gradually easing, which is why the withdrawal limit was relaxed. It also instructed banks to monitor transactions through cheques and block any ...

“All you can fly” – unlimited flights for an annual subscription fee. What’s not to like? A fair amount, for some passengers, it turns out. Wizz Air’s new scheme under that title has divided opinion. Some have praised the €499 (£426) scheme’s “insanely great” value on trips as far as the Maldives, and the budget airline says it has been ...

Retailers reported a 0.5% rebound in July after the Euro 2024 football championship and summer discounting fuelled shopping. The increase follows a sharp fall in June, when sales volumes – which measure the quantity bought – were hit by poor weather. Department stores and shops selling sports goods shifted higher volumes of gear last month. But the Office for National ...

The UK’s economy grew by 0.6% between April and June as it continued its recovery from the recession at the end of last year. The latest figure was in line with forecasts and follows a 0.7% increase in the first three months of this year. Growth was led by the services sector, in particular the IT industry, legal services and ...