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When Bangladesh won independence from Pakistan in 1971, it was much poorer than the country it left. Industry accounted for only 6-7% of its GDP, compared with over 20% in Pakistan. The battle for independence had killed or displaced millions, damaged roads and railways, and severed ties with Pakistan’s bankers and industrialists (including the owner […]

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Export earnings from the USA, the largest export destination for Bangladesh products, witnessed a healthy 17.94 per cent growth in July last compared to the corresponding month of the previous year, mainly due to the good performance of the RMG sector, reports UNB. Bangladesh exports to the USA totalled $ 497.36 million in July of […]

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In order to support Bangladesh’s swift response and to assist those who have been affected by the worst flooding, the UN’s Central Emergency Response Fund (CERF) has allocated US$2.4 million to support the humanitarian response. To date, more than 720,000 houses have been damaged or destroyed, and 172 shelters in flood-affected areas are sheltering more […]

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A file photo shows daily essentials including rice at a shop in capital Dhaka. The prices of fine-grade rice increased on both wholesale and retail markets in the capital after Eid-ul-Azha that was celebrated on Saturday. — New Age photo The prices of fine-grade rice increased on both wholesale and retail markets in capital Dhaka […]

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Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila. Bangladesh Bank has been able to retrieve only about $15 million […]

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Private sector credit growth in July stood at 16.94 percent — the highest in five years and well above the target of 16.2 percent set in the monetary policy for the first half of the fiscal year. The development is all the more salient as the private sector credit growth was 15.66 percent only a […]

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Huawei mulls over assembling smartphones in Bangladesh after the government this fiscal year slashed the customs duty for mobile parts for assembling locally. At present, the customs duty for mobile parts for local assembling is 1 percent, down from 20-25 percent previously. At the same time, the government doubled the customs duty on handset import […]

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Economic Relations Division secretary Kazi Shafiqul Azam and World Bank country director Qimiao Fan shake hands after signing a $515 million loan deal to improve the country’s health, nutrition and population services under the 4th health sector programme. Health minister Mohammad Nasim, state minister for health Zahid Maleque and state minister for finance and planning […]

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From Friday, Md Yusuf has put up machetes and various knives on display in front of his tiny blacksmith store at Karwan Bazar. These are not the usual items that Yusuf sells. They have been added to tap into the surge in demand for meat-processing paraphernalia every year ahead of Eid-ul-Azha, one of the biggest […]

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Farmers, particularly cattle rearers, suffer from losses for death of animals from natural calamities like flood and cyclone in the absence of insurance coverage, analysts said yesterday. “The prices of animals have increased significantly. Under the circumstances, the death of a cow causes huge losses to farmers,” said Md Ainul Haque, director general of the […]

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Finance minister AMA Muhith speaks at a workshop organised by Financial Institutions Division of the finance ministry at the CIRDAP auditorium in the capital on Saturday. State minister for finance and planning MA Mannan, parliamentary standing committee chairman Abdur Razzak, Bangladesh Bank governor Fazle Kabir and Financial Institutions Division senior secretary Md Eunusur Rahman were […]

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Chittagong Customs House is set to expedite the auction of abandoned cargoes with a view to clearing the jammed port yards. As of yesterday, a total of 5,800 TEUs (twenty feet equivalent units) of loaded containers, imported between 2013 and July this year, are lying on the port yards. The value of the goods in […]

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