DHAKA: The World Bank (WB) has upgraded Bangladesh to a lower middle-income country from a lower-income country.Apart from Bangladesh, three other countries --Kenya, Myanmar, and Tajikistan -- now become lower-middle income countries, joining those with annual incomes of $1,046 to $4,125,

DHAKA: The government has taken initiatives of providing Tk 106,000,000 as incentives for farmers in cultivating boro crops in wetland areas in seven districts in the country.Agriculture minister Matia Chowdhury made the disclosure at a press conference at secretariat in the city on

DHAKA: Okapia, a cell phone manufacturer that is fast becoming one of the most popular brands in Bangladesh, launched handset models in the past keeping in mind the market demand and customer requirement.This time, Okapia launched their latest model of handset ‘Okapia Maa’, which has

DHAKA: The purchase committee of cabinet division on Wednesday noon approved the construction of a rail bridge over river Rupsa in Khulna with an estimated cost of Tk 1,238-core.Cabinet division additional secretary Mostafizur Rahman told the media after the meeting.He further said that

DHAKA: The World Bank (WB) will provide 473 million USD as loan for the development projects on disaster management and economic progress.The agreements were signed at NEC conference centre in city’s Sher-e-Bangla Nagar on Tuesday.Economic Relation Division (ERD) senior secretary

DHAKA: South Bangla Agriculture & Commerce (SBAC) Bank Limited opened its 39th branch on RN Road in Jessore on Tuesday.SBAC Board of Directors member Motiur Rahman inaugurated the branch while Board chairman SM Amzad Hossain was present as chief guest.Board of Directors members Engineer M

DHAKA: All Public transactions in the scheduled banks will remain closed on the first day of 2015-16 fiscal year on Wednesday.Dhaka Stock Exchange (DSC) and Chittagong Stock Exchange (CSE) will also remain shut on the day.Bangladesh Bank (BB) sources confirmed the matter to

DHAKA: Osamu Suzuki, the longest-serving leader of any major global automaker, will cede his title as president of Suzuki Motor Corp to his son, Toshihiro Suzuki.Toshihiro Suzuki, 56, will become president while Osamu Suzuki, 85, will stay on as chairman and CEO, the company said in a

DHAKA: Islami Bank Bangladesh Limited (IBBL) organized a discussion on ‘Role of Ramadan in purifying wealth and soul’ and an ifter mahfil at a city hotel on Monday.IBBL chairman Engineer Mustafa Anwar presided over the program, attended by Executive Committee chairman Engineer M

DHAKA: The government has withdrawn the proposed value added tax (VAT) from e-commerce following the requests of Bangladesh Association of Software and Information Services (BASIS).BASIS disclosed the matter through a news release.The release said finance minister AMA Muhith announced the

DHAKA: The Embassy of Denmark, the Royal Norwegian Embassy, and the Embassy of Sweden in Dhaka are being shifted to new shared premises at Bay’s Edgewater by North Avenue of Gulshan 2 in city from July 2015.A press release, jointly issued by the three embassies on Tuesday, disclosed the

DHAKA: The Jatiya Sangsad passed the Tk 295100 crore national budget for the 2015-16 fiscal year with a hope to leading country towards prosperity.The bill was passed by voice vote Tuesday after some 57 hours discussion by 219 lawmakers.On June 4, Finance Minister AMA Muhith proposed a Tk

DHAKA: Humayun Kabir, director general of Currency Management Department of Bangladesh Bank (BB), has been promoted to executive director (ED) of the central bank of the country recently.A statement on Monday said Kabir was recently promoted to the position.Humayun Kabir joined at

DHAKA: The government reduced the volume of source tax in readymade garments (RMG) sector from proposed one percent to 0.6 percent in the national budget of 2015-16 fiscal year.At the same time, the value added tax (VAT) in higher education in private sector was also reduced from proposed

DHAKA: Country's stock market marked gain in its price indices on Monday, the second trading day of the week.DSEX, the Broad Index of Dhaka Stock Exchange, rose over 29.76 points only to stand at 4531.98 at the close of day’s trading. Trade deals stood at 101645 with volume of

MANAMA: Labour Market Regulatory Authority (LMRA) of Bahrain has offered a six-month general amnesty for workers staying illegally in the country.LMRA chief executive Ausamah Al Absi recently declared the general amnesty for illegal workers. The amnesty, to begin from July 1, will give a

DHAKA: Shares in Asia opened lower on Monday in the first market reaction to Greece’s decision to close its banks and impose capital controls limiting the amount of money which can be withdrawn.Japan’s Nikkei 225 index was down 1.81% at 20,331.57 in mid-morning trade.In Australia, the

DHAKA: Trading on the country’s two bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- is underway showing gain in share-price indices on Monday.DSEX, the Broad Index of DSE, rose over 11.34 points to stand at 4513.56 at 11:28 am.Trade deals stood at 32445 with

DHAKA: China is hosting the signing ceremony of the Asian Infrastructure Investment Bank (AIIB), a new international financial institution set to rival the World Bank and Asian Development Bank.Delegates from 57 countries will sign articles that determine each member's share and the

DHAKA: Greek Prime Minister Alexis Tsipras said the banks are to remain closed and capital controls will be imposed.Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Tsipras said Greek deposits were safe, reports the BBC.Greece is