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High deficit budget to hit investment, growth

Economists and business leaders said that the proposed budget for fiscal 2012-13 being highly deficit would force the government to resort to excessive bank borrowings, resulting in lower... Full story

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Budgetary tax measures to be burden on general people: CPD

The Centre for Policy Dialogue on Friday alleged that the government preferred some easy initiatives, instead of innovative and progressive measures, to increase revenue earnings which would create tax burden on general people and go against social justice. Full story

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BGMEA, BKMEA demand no increase in tax at source

Leaders of the BGMEA and the BKMEA on Friday said a proposed increase in tax at source to 1.2 per cent from the existing 0.6 per cent on export of garment products for the next financial year would be an impediment to the garment sector growth. Full story

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Indian wholesalers keen to take trade advantages in Bangladesh

Indian well known wholesalers like Globus, Pantaloon, Big Bazaar, Lifestyle are keen to take trade advantages in Bangladesh where they can avail duty free imports of some 46 apparel items. Full story

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WB chief hits at US on trade

Outgoing World Bank chief Robert Zoellick on Thursday called for a new partnership in the Americas, criticising the United States for insufficient leadership on trade and saying that Venezuelan president Hugo Chavez’s political influence is waning. Full story

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China unveils incentives to boost private investment

China said Friday it will provide subsidies and discount loans to encourage private investment, in the latest step by policymakers to shore up the slowing economy. Full story

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Asian markets slip on lack of Fed stimulus hint

Asian markets fell Friday as European debt woes and disappointment at US Fed chief Ben Bernanke’s failure to commit to any new stimulus measures overshadowed a surprise Chinese interest rate cut. Full story

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Euro weakens in Asian trade

The euro weakened in Asian trade Friday after hopes were dashed for US policy easing to pump up the world’s biggest economy, while a Spanish credit rating downgrade had limited impact on the unit. Full story

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Oil falls on fading US stimulus hopes

Oil prices fell on Friday as hopes dimmed for stimulus measures to re-energise the faltering US economy, analysts said. In late morning London deals, Brent North Sea crude for... Full story

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Japan data point to fragile economic recovery

Japan’s economy grew faster than first thought between January and March, official data showed Friday, but analysts warned of a slowdown caused by a strong yen, Europe’s debt woes and weakness in China. Full story

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China rate cut sparks fears of grim economic data

Global cheers over China’s decision to cut interest rates faded on Friday as investors and economists worried that the move signalled the impending release of grim economic data. Full story

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Greek economy keeps on crumbling

Greece’s economy shrank further in the first three months of 2012, shrivelling at a yearly rate of 6.5 per cent against a backdrop of painful wage cuts, tax hikes and record unemployment. Full story

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SIBL gets new chairman

Nasiruddin has recently been elected chairman of the board of directors of Social Islami Bank. The election was held in the 270th meeting of the board held in Dhaka, said a news release. Full story

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S Korea freezes key rate for 12th month

South Korea’s central bank Friday froze its key interest rate at 3.25 per cent for a 12th straight month, dismissing a rate cut despite renewed worries about eurozone turmoil. Full story

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