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WTO chief Lamy talks to The Daily Star on prospects and challenges ahead Uday Sankar Das, from Chittagong Bangladesh is moving ahead rapidly showing cohesion in adjusting to various changes and demands, and has the potential to become an emerging economy, Pascal Lamy, director general of the World Trade Organisation, said yesterday. “Bangladesh achieved a huge reduction […]

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Md Fazlur Rahman Mobilising external resources should be the central element of any Padma bridge financing plan to ensure its implementation without compromising macroeconomic stability, experts said yesterday. The issue of alternative financing sources for the $2.9 billion bridge has come to the fore following the government’s announcement that it would no longer pursue the […]

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KUALA LUMPUR: A special purpose vehicle (SPV) comprising two Malaysian companies would be formed to undertake a RM2.4bil worth development project in Bangladesh. Special Envoy to India and South Asia, Datuk Seri S. Samy Vellu said the SPV will sign two memoranda of agreement, one with the Bangladeshi government and another with the related companies […]

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World Bank Group President Jim Yong Kim has strongly said the lender would not finance the Padma bridge until certain conditions are met to heighten oversight in the project and Bangladesh gives an assurance that a complete and fair probe is under way. “Until certain conditions are met to heighten oversight in the project and […]

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TEKNAF, Bangladesh, January 31 (UNHCR) – Along one of the world’s longest stretches of sandy beach, groups of men brace themselves every night for the adventure ahead. They roll up their longyi, a sarong-like wrap commonly worn in the region, and board boats guided by the moonlight. They leave at midnight when the sea is calmer. Some […]

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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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