A glance at the most important news of the day

Among a number of incidents taking place on Wednesday (29 May), take a quick look at some of the most important news items The Business Standard has compiled for you…

PM defends budgetary proposal for whitening black money

Prime Minister Sheikh Hasina today (7 June) supported the budgetary provision for legalising black money saying that it should be brought to the legal network first.

"The money should be allowed to come to the appropriate place (the banking channel) first with payment of a nominal amount of money (tax) and then they will have to pay tax regularly…. If you go to catch fish, you need to provide feed," she said.

'Wait 6 months for measures to take effect against inflation': Finance minister

The country must wait for 6 months to bring inflation under control, Finance Minister Abul Hassan Mahmood Ali said today (7 June). 

"The government is doing everything to control inflation and it will begin to decline by the end of this year, in line with the measures taken in the budget," the finance minister said while speaking at the post-budget press conference held at the Osmani Memorial Auditorium in the capital.

Proposed budget devoid of reality, can't tackle ongoing crisis: CPD

It will not be possible to tackle the ongoing economic crisis with the Tk7.97 lakh crore proposed national budget for the upcoming fiscal year 2024-25 (FY25), the Center for Policy Dialogue (CPD) said today, describing the budget as 'devoid of reality'.

Eid-ul-Adha to be celebrated on 17 June

Bangladesh will celebrate Eid-ul-Adha, the second biggest religious festival of the Muslims, on 17 June as the moon for the month of Zilhajj on the Islamic calendar was sighted today (7 June).

Modi set to be formally elected as alliance leader as India coalition talks progress

Newly elected lawmakers of Prime Minister Narendra Modi's National Democratic Alliance (NDA) arrived in New Delhi on Friday for their first meeting at which he will be formally elected as their leader, ahead of presenting his claim to form a new coalition government.

Although Modi will become prime minister for a record-equalling third consecutive term, this is the first time his Hindu nationalist Bhartiya Janata Party (BJP) has needed regional parties for support to form the government.

Israel pounds Gaza refugee camp as war enters ninth month

Israeli forces bombarded a Gaza refugee camp on Friday after a deadly strike on a UN-run school there, as the war sparked by Hamas's unprecedented attack on Israel entered its ninth month.

The conflict has killed thousands, laid waste to much of the Gaza Strip, uprooted most of its 2.4 million population and put them at risk of starvation.