Tk 3,000cr loans sought for tourism sector to tackle Covid-19 shock

In a desperate move to tackle the present Covid-19 situation, country’s hard-hit tourism and hospitality industry has sought Tk 3000 crore interest-free loans for the next three years.Besides, in the upcoming national budget 2020-21, the industry people have sought enough allocation for hotel, motel, resorts, all category of restaurants, all tour operator, travel agencies, tourist vehicle and vessel, and private airlines.At the same time, it demanded allocate fund of Tk 500 crore for overseas promotion and product development just after the crisis and waiver of utility bills until resumption of operation and reduced income tax for establishments and employees for at least two years.The demand was made in a statement issued by Shahid Hamid FIH, Executive Board Member, PATA Global & Chairman; PATA Bangladesh Chapter recently.The statement read, Covid -19 pandemic has had an unprecedented effect on all walks of life throughout the globe. The travel and tourism industry has not b...

Global uncertainty over virus at record high: IMF

A new measure of global uncertainty around the coronavirus has surged to a record high, according to a blog post released by the International Monetary Fund (IMF) on Saturday, reports Xinhua."The coronavirus continues to spread. As more countries impose quarantines and social distancing, the fear of contagion and income losses is increasing uncertainty around the world," Hites Ahir and Davide Furceri, officials at the IMF's Research Department, and Nicholas Bloom, a professor of ec...

Emirates resumes first passenger flights today

Emirates has received approvals to carry passengers on certain flights. Effective from April 6, initial flights will commence from Dubai to London Heathrow, Frankfurt, Paris, Brussels and Zurich, with 4 flights a week to...

PHP Group donates Tk 2cr to PM’s relief fund

PHP Group, one of the country's largest industrial enterprises, has donated Taka 20 million (two crore) to the Prime Minister's Relief Fund to combat Novel Coronavirus.According to the commitment of the PHP Group the chairman of the Group Sufi Mohammad Mizanur Rahman contributed the fund to further accelerate the government's ongoing programmes to prevent coronavirus. PHP Group Vice Chairman Mohammad Mohsin handed over the cheque of donation to the Prime Minister's Office on Sunday evening. Principal Secretary to the Prime Minister Dr Ahmed Kayakus accepted the check on behalf of the Prime Minister. During this time, Prime Minister Sheikh Hasina also joined the donation programme through video conferencing. PHP Group also handed over some Personal Protective Equipments...

PM receives treatment at NIOH

BCB hopes to overcome loss from BPL, ICC events

The Bangladesh Cricket Board is confident that it will recover the financial losses incurred during the Covid-19 lockdown. Unlike many other boards, the BCB hasn't gone for pay cuts for its staff and cricketers, and it is likely to stay that way in the near future as they feel they are better placed compared to other boards, reports Cricbuzz. According to BCB's finance committee chairman Ismail Haider Mallick, they are expecting to recover the lost money from hosting the next edition of the Bangladesh Premier League along with participation in ICC and ACC events, that are yet to be postponed."Fifty percent of our revenue comes from ICC and ACC events and another fifty percent through the domestic tournaments and more precisely through BPL," Ismail told Cricbuzz on Sunday (April 5). "Due to the global economic shutdown we are expecting to lose some 20 to 25 percent of our yearly revenues which amount to around TK 40 Crores."We will be affected if there are no ICC or ACC events and if we fail to host the BPL but as of today that is not the case, so we are expecting to recover the losses through taking part in these events as well hosting the BPL successfully."BCB, though, will be squeezed if the ICC and ACC events don't take place. If the ongoing situation goes on for too long and lasts until October and affects the ICC Twenty20 World Cup in Australia and the Asia Cup in September, BCB's yearly revenue will be chopped into half.Ismail, though, is optimistic. "I don't think that there's much possibility of losing out o...

Plight of the middle class

While many social and non-government organisations are distributing essentials to the needy, people belonging to the middle class claim they are among the worst sufferers as they are not in a position...

Home rent waiver needs consideration

About 90 percent of the residents of the capital reside by renting their homes. Most people rent houses not only in Dhaka but also in other divisions and district cities. In fact, people from the municipalities come to the city to find a way to live ...

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Enticing UMAI