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$14.059b siphoned off

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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India has sought Bangladesh’s permission to allow exports by Indian companies operating in its country through the North-Eastern region besides earmarking land for setting up India-specific Special Economic Zones (SEZs) there. North-East Region may serve as a gate-way for exporting goods from Bangladesh, especially, to Indian market and can help in giving a push to […]

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This high yielding China-origin variety of orange has seen successful cultivation at Agriculture Research Station in Khagrachhari Sadar upazila, thanks to the initiative of five researchers of Bangladesh Agriculture Research Institute.Photo: STARKafil Mahmud, Khagrachhari A newly introduced high-yielding variety of orange has seen successful cultivation in the district, following research by Bangladesh Agriculture Research Institute […]

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Hit by hartal, top business body urges opposition The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the BNP-led alliance to withdraw the eight-hour hartal called for today and proposed holding dialogues to resolve political issues. “Please find alternatives [to hartal] to carry out your political movement. Do not call hartal for […]

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