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The central bank will introduce the Real Time Gross Settlement (RTGS) in the financial services of commercial banks by 2014 to ensure smoother and quicker inter-bank clearing of payments, said Bangladesh Bank (BB) officials on Sunday. “We’re working to develop the swift finance service mechanism, and the RTGS will be introduced by 2014 to integrate […]

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70pc revenue pilfered

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Anti-graft body finds call carriers, some BTCL staffs; culprits enjoy blessings of ministers, MPs M Rahman and Abdullah Mamun An Anti-Corruption Commission enquiry has found that 40 international call carriers had gobbled up money for around 70 percent of incoming calls since 2010 which the BTCL was supposed to get. It also found that the […]

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Haor areas highly vulnerable to climate change, says Speaker Hamid Finance Minister AMA Muhith Recognising that the farmers are not getting the fair prices of their produces, Finance Minister AMA Muhith on Saturday said the government was trying to raise the crop procurement rate. �The major problem is that they (farmers) are not getting the […]

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Just past board of the bank approved Tk 65cr loan Sajjadur Rahman The immediate past board of directors of Sonali Bank approved a Tk 65.41 crore project loan for controversial Hall-Mark Group, which shows that the board was responsible, at least partly, for the Hall-Mark loan scam. Of the amount, Tk 57 crore has already […]

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Summit overcomes financing hurdles for two big power projects Local power company Summit has overcome its financing hurdles to two major base-load power projects while it is formally withdrawing from another power project in Bibiyana so that the government can award the deal for that to a Saudi company. Summit chief Muhammad Aziz Khan has […]

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China Communication Construction Company Ltd (CCCC) yesterday placed a feasibility study for a multi-lane road tunnel under the Karnaphuli River to Bangladesh Bridge Authority. The company proposed to build the 3.5-kilometre-long tunnel at least 33 metres down from the river bed at a cost of over $700 million, according to the report. The tunnel may […]

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Bangladesh has objected to the new rules of the UK Border Agency on the financial statements required for British visa applications. The UK government named only 14 banks in Bangladesh to issue financial documents to support visa applications, which the Bangladesh foreign ministry said was a violation of international rules. “Picking only 14 banks out […]

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BP Plc is expected to pay a record US criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice (DoJ) that may be announced as soon as Thursday, according to sources familiar with discussions. Three sources, who spoke to Reuters on […]

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Are you eating safe?

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Agora to get its food items tested by a government research organisation before selling to customers Ahmad Ismail Mustafa, chairman of Bangladesh Council of Scientific Research (BCSIR), and Niaz Rahim, managing director of Rahimafrooz Superstores, shake hands after signing a deal in Dhaka yesterday. Rahimafrooz’s chain superstore Agora will use BCSIR’s technology to ensure safe […]

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WB says the country should cash in on its low-cost edge over the competitors From left, Ahsan H Mansur, executive director of Policy Research Institute; Zahid Hussain, a senior economist of World Bank in Bangladesh; AMA Muhith, finance minister; Ellen Goldstein, WB country director; Debapriya Bhattacharya, distinguished fellow of the Centre for Policy Dialogue, and […]

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Dhaka, Nov 14 (bdnews24.com)—Former central bank Governor Salehuddin Ahmed on Wednesday alleged that a part of the private sector credit was diverted to some other areas where it was not meant to go. “I conducted a study on 18 branches in Cox’s Bazaar, Netrokona and other areas recently and I found some businessmen took SME […]

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The comeback of GMG Airlines, which is now offline, by previously announced December this year is still uncertain as the airliner could not complete its ‘new business strategy’ yet. “It will take time, but the delay will not be from our side,” said Asif Ahmed, director (marketing, communication, HR and customer experience) of GMG Airlines. […]

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