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Bangladesh cut interest rates for the first time since 2009 to support economic growth, citing risks to expansion from an uncertain global outlook. Bangladesh Bank lowered its benchmark repurchase rate to 7.25 percent from 7.75 percent, it said in Dhaka today. The monetary-policy stance for January through June seeks to bolster investment in productive industries, […]

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Mott MacDonald has been appointed by the government of Bangladesh to support three development projects aimed at reducing poverty and increasing incomes in the country. All three schemes are financed by the Asian Development Bank (ADB). The consultancy is providing design and supervision services for the sustainable rural infrastructure improvement project (SRIIP), which will foster […]

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AGRA: India today asked Bangladesh to allow smaller ships to operate between Vizag and Chittagong for faster movement of goods and reduction in shipment costs. The issue came up for discussion during the bilateral talks between Commerce and Industry Minister Anand Sharma and Bangladesh’s Commerce Minister, Ghulam Mohammad Quader here. An official said Sharma requested […]

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Prime Minister Sheikh Hasina says that Bangladesh’s geographic location makes it a ‘convenient connecting hub’ between the Eastern and Western countries. “It’s essential to utilise this opportunity (geographical location) properly for the country’s socioeconomic development,” she said on Tuesday while inaugurating the upgradation work of Hazrat Shahjalal International Airport. She also underscored the need for […]

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IFIC Bank has decided to extend loans to readymade garment factories and other industrial units at six percent interest rate to encourage them to install firefighting and evacuation systems. The decision came from the meeting of the bank’s Board of Directors, said a press release on Monday. It said the bank took the measure in […]

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Disputes on VAT, audit and 3G guidelines should be settled amicably Mohammad Ali Grameenphone (GP), country’s largest telecom operator, is preparing itself to spur the growth of digital future in Bangladesh, its Chairman Sigve Brekke said. “We are preparing ourselves for the digital future. Providing voice services is now being focused. The next generation in […]

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Inditex SA (ITX), which includes the Zara chain, suspended links with two subcontractors after garments with the company’s labels were found at the site of a fatal factory fire in Bangladesh, a spokesman said. Inditex has stopped doing business with Spanish supplier Wonnover and its Bangladeshi sub-contractor Centex as a precautionary measure, Inditex spokesman Jesus […]

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A US Congressional delegation on Sunday said Bangladesh deserves duty and quota free access to the American market and suggested to appoint lobbyists to serve Dhaka’s interest better. The 5-member Congressional delegation led by Jack Kingston, which made a brief visit to Bangladesh on their way to India, came up with the observation during a […]

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The potential of routing trade from Kolkata to the North-East through Bangladesh can be exploited. In a bid to cash in on the shortage of coal faced by industrial consumers for quite some time, a Kolkata-based trader sometime ago wondered about transporting coal from Meghalaya by the river route (a large part of which is […]

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Bangladeshi expats can now send money to their dear ones’ bank accounts in Bangladesh in real time using FLASHremit, from UAE Exchange. Both sender and receiver get an SMS each, the moment account is credited.   Abu Dhabi, United Arab Emirates, January 26, 2013 –(PR.com)– Citizens of Bangladesh, settled outside the country, can now send […]

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With $67 million cost, the plant expected to commence operation by end of 2014 Flagship company of the RPG Group, tyre maker Ceat has signed a joint venture agreement with A K Khan & Company, a Bangladesh-based business house, to set up a tyre manufacturing facility in Bangladesh. The Mumbai-based company and its partner will collectively invest $67 […]

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There has been a record rise in Bangladesh’s apparel exports to new emerging markets during the first six months of the current fiscal year that started on July 1, 2012. Indicative of a year-on-year rise of 24.11 percent, new markets contributed around US$ 996.89 million of the US$ 9.94 billion that Bangladesh earned from exports […]

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