Home » Archives by category » Economy (Page 264)

New-wave economies going for growth; as even Brics plateau, other countries, from Bangladesh to Mexico, are coming up fast – and could overtake the west by 2050 Bangladeshi migrant workers line up to enter a construction site in Kuala Lumpur of Malaysia in 2011. Photo: Khabar South AsiaStar Online Report Global economists forecast that trend […]

Continue reading …

Mahbub-ur-Rahman, head of HSBC’s corporate banking in Bangladesh, and Md Nurul Alam, managing director of Ashuganj Power Station Company, exchange documents of a loan agreement signed at a ceremony in Dhaka yesterday. Tawfiq-E-Elahi Chowdhury, energy adviser to the prime minister, was also present. HSBC Bangladesh has arranged $420 million loans for Ashuganj Power Station Company […]

Continue reading …

The government appointed 31 directors of seven state-run banks and financial institutions yesterday. Former government officials, at the level of joint secretaries, dominated the appointment. With this, 21 out of 26 vacant posts of directors at Sonali, Agrani and Janata banks are now filled. However, 15 directorial posts at state-run banks and financial institutions are […]

Continue reading …

$14.059b siphoned off

No Comment

Reveals Global Financial Integrity report A total of $14.059 billion had been siphoned off from Bangladesh in 10 years since 2001 through trade mis-invoicing, corruption, bribery and tax evasion, said a report of Washington-based Global Financial Integrity (GFI). Of the money, $10.597 billion [almost 75 percent] were transferred through under- and over-invoicing of exported and […]

Continue reading …

Prime Minister Sheikh Hasina presides over the Executive Committee of the National Economic Council (Ecnec)meeting. In a major breakthrough in building the country’s first metro rail system in Dhaka, the government on Tuesday approved a project involving a cost of Tk 21,985 crore. Under the project, 20.1 kilometer overhead rail track would be constructed on […]

Continue reading …

The remittance inflow into the country is likely to reach a record $14 billion this year despite the Middle East crisis, Expatriates’ Welfare and Overseas Employment Minister Khandaker Mosharraf Hossain said yesterday. Last year, Bangladeshi expatriates sent home $12.17 billion. “We are trying to increase remittance that contributes to the national economy,” Mosharraf said at […]

Continue reading …

JS probe finds up to Tk 400cr invested, rest of the money remains traceless; suggests grilling Hall-Mark boss for answer Sajjadur Rahman and Shakhawat Liton Controversial business group Hall-Mark invested only Tk 300-400 crore from the nearly Tk 2,700 crore it had fraudulently taken in loan from Sonali Bank. A government probe committee that was […]

Continue reading …

BGMEA decides over compliance failure Refayet Ullah Mirdha The trade body of garment makers has planned to cancel membership of 850 non-compliant industrial units — 600 in this month and the rest in February, said a leader of the platform. These units had failed to conform to labour and safety standards despite repeated reminders from […]

Continue reading …

star archiveAshfaqur Rahman Last week, political events in Bangladesh had been troubling. First there was the toxic oborodh (physical blockade) and then a full day of countrywide hartal followed by another one for half a day. In the 21st century such political tactics are not only out of date but also very costly economically. They […]

Continue reading …

Bangladesh Garments Manufacturers and Exporters Association (BGMEA) sought a separate ‘apparel ministry’ for coordination and effective representation of the multi-billion dollar Readymade Garments (RMG) industry. “We need a separate apparel ministry for effective representation of the gigantic industry. We’ll give a proposal to the government to that end shortly,” M Shafiul Islam Mohiuddin, president of […]

Continue reading …

Prime Minister Sheikh Hasina said, “For many countries Bangladesh is now considered as a role model of socio-economic development. Around five crore people elevated their position from poor-class to middle-class and per capita income has been raised to US$ 850 from US$ 630,” The artillery strength of Bangladesh Army has entered into a new phase […]

Continue reading …

By Alex Renton in Dhaka Dhaka’s leather business is booming, yet 90% of workers die before 50 and the industry causes pollution on a major scale The smell catches you from blocks away: a throat-tightening mix of bad egg, rotten meat and acrid ammonia. Among the rickshaws, barefoot men push carts piled with grey-blue skins. In […]

Continue reading …