Business articles

BGMEA to Organise BATEXPO 2014 Outside Bangladesh

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will organise the 25th edition of Bangladesh Apparel and Textile Exhibition (BATEXPO) outside Bangladesh. Sources at the BGMEA told the Daily Observer On Monday that the BGMEA decided to hold the BATEXPO 2014 outside the country for the first time. A source said BATEXPO-2014 will take place in

Bangladesh – Sri Lanka Trade Crosses $100m For First Time

As bilateral trade crossed the critical $100million mark for the first time, a confident Bangladesh called  for a formal investment protection mechanism to drive trade volumes to next levels. “As a result of an investment protection agreement, fundamentals of investments would be right for Bangladeshi investors looking at Sri Lanka and this would drive our

Bangladesh Bank Disbursement Time to Expedite Remittance Inflow

In a bid to expedite remittance inflow Bangladesh Bank (BB) cut the disbursement time of remittance to the beneficiaries by a third of the current time- frame. The central bank in a directive issued on Wednesday asked all banks to disburse the remittance to the beneficiaries in two working days instead of current 72 hours

Export Earnings Mark 12pc Growth in Fiscal Year 2013-2014

Despite the failure to meet export earning target set for the fiscal 2013-2014, the country managed to fetch a record amount of foreign exchange worth $30,176 million, which is around 12 percent more than that of the previous fiscal. The export earning in the just-ended fiscal experienced a shortfall of target by 1.06 percent though

Government Create Fund For Unemployed Women

The government will implement a project at a cost of Taka 114 crore aimed at making the unemployed women self-reliant through training. Under the project named ‘Empowerment of Women Through Technology Transfer”, training will be given to the poor and unemployed women of every upazila. State Minister for Women and Children Meher Afroz today said

Bangladesh Eyes Hydropower Import From Bhutan

Bangladesh government will strengthen its bilateral tie with Bhutan to import hydroelectricity from the neighbouring country through joint-venture initiatives or direct purchase, an official concerned said. As part of the efforts, State Minister for Power and Energy Nasrul Hamid is expected to visit Bhutan soon. The Power Division has already requested Foreign Secretary M Shahidul

Exports In 1st 10 Months Show Moderate Growth

Country’s exports to key destinations like Germany, the UK and France posted a modest growth in the first 10 months (July-April) of the current fiscal year (2013-14) compared to the same period in the last fiscal (2012-13), according to a news agency. During the July-April of fiscal 2013-14, exports to Germany totalled $ 3,912.84 million,

State Owned Jute Mills in Dire Financial Straits

Govt owned jute mills in Khulna industrial belt are going through a severe financial crisis for various reasons, including inability to sell their produced goods. Some jute mills including private ones are facing closure due to acute crisis of raw materials. Most mills cannot purchase raw materials and pay workers’ wages failing to sell large

Jatiya Sangsad Passed National Budget For 2014-15

Jatiya Sangsad (JS) passed the national budget for fiscal year 2014-15 (FY15) involving Tk 2 lakh 50 thousand 506 crore, expecting to uphold the current pace of development to achieve a middle income country status as enshrined in the Vision-2021 of the alliance government of Prime Minister Sheikh Hasina. The JS also adopted the Appropriation

Sonali Bank Cuts Interest Rate

Considering the demand of the country’s entrepreneurs and investors, the state-owned Sonali Bank Limited has reduced interest rate against loans and advances for some specific sectors. The sectors are capital loan, project loan, SME loan, general loan and commercial loan. The bank has reduced interest rate by 1 percent from its existing rate of interest