The Bangladesh Financial Intelligence Unit (BFIU) has included the names of family members of the ousted Prime Minister, Sheikh Hasina, in a list of individuals and business groups to be investigated for their alleged involvement in money laundering and other misconduct. On January 6 this year, the Financial Institutions Division instructed the BFIU to form…
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A case has been filed against former president Abdul Hamid, former prime minister Sheikh Hasina, and 122 others for their alleged involvement in an attack on anti-discrimination students during the recent mass uprising in Kishoreganj. Tohmul Islam Mazharul, 27, of Kishoreganj Sadar filed the case with Kishoreganj Sadar Model Police Station yesterday afternoon, said Abdullah…
The fact-checking body Rumor Scanner has debunked a video falsely claiming that Bangladeshi citizens are destroying crops on Indian agricultural land. Indian media outlet Republic Bangla recently circulated a video on social media, alleging that “some Bangladeshis have infiltrated the Malda-Sukdevpur border of India and destroyed agricultural crops in the dark of night.” In its…
The BNP on Tuesday demanded that the interim government arrange the next national election by August this year in the greater interest of the country. “We think that the election is possible in the middle of this year, and that means between July and August,” said party Secretary General Mirza Fakhrul Islam Alamgir. He made…
Royal Enfield, the world’s oldest motorcycle brand in continuous production, inaugurated their first manufacturing plant in Bangladesh in collaboration with IFAD Motors Ltd and their Flagship Showroom in Dhaka on October 21, 2024. For those who may not be aware, it is the largest Royal Enfield Showroom in Asia. The launching ceremony of Royal Enfield…
The Overseas Correspondents Association Bangladesh (OCAB), a Dhaka-based platform of journalists representing global media, has condemned the decision to cancel accreditation for journalists without showing any reasons in Bangladesh. OCAB has also demanded immediate withdrawal of the decision and return the accreditation to 167 journalists, including senior members of OCAB, as the group thinks such…
After a two-year hiatus, rice imports from India have resumed through the Benapole port. Three trucks loaded with 105 tonnes (105,000 kg) of non-basmati rice, imported by Mahabubul Alam Food Products from Jashore, entered the transshipment yard at the port on Sunday night, said Sajib Nazir, Deputy Director (Traffic) of Benapole Port, reports UNB. Customs…
Diplomats representing 27 European countries, stationed in Dhaka and New Delhi, will together meet Chief Adviser Prof Muhammad Yunus soon in a show of support to his interim government and boost economic cooperation with Bangladesh. “Never before, 27 ambassadors from the European Union have come together to discuss with the government,” said Prof Yunus. The…
Experts have urged the interim government of Bangladesh to take immediate and effective action against syndicates operating in Malaysia’s labour market, which have been accused of exploiting migrant workers and inflating recruitment costs. They called on both the Bangladeshi and Malaysian governments to collaborate in addressing this issue and safeguarding the rights of migrant workers.…
Chief Adviser Dr Muhammad Yunus on Wednesday called for redesigning the global healthcare system and pharmaceutical companies. He made the call while speaking at an event on health services on the sidelines of the COP29 climate conference in Baku, the capital of Azerbaijan, according to a message received in Dhaka. Earlier in the day, Yunus…
Chief Adviser Professor Muhammad Yunus said on Tuesday the countries should redesign the banking system by following the Grameen Bank model to make credit accessible to farmers, a considerable number of whom are women. “Every country should have a social business banking law,” he said, while appreciating that currently at least 110 universities across the…
Buoyed by their massive rally in the capital on Friday, the BNP is now planning to stage similar showdowns in 10 divisions across the country to demonstrate its strength in resisting any plot to destabilize the country and mount pressure on the government to present a clear election roadmap. Through the rallies, the party’s senior…
Egypt has invited Chief Advisor Prof Muhammad Yunus to attend the D-8 Summit in December next year, which will be held in Cairo, Egypt. Egypt Ambassador in Dhaka Omar Fahmy handed over the invitation of Egyptian President Abdel Fattah El-Sisi to the Chief Adviser at his office in Tejgaon on Wednesday. During the meeting, the…
The Council of Advisers of the interim government has been expanded with three new members. They took the oath of office on Sunday evening, UNB reports. President Mohammed Shahabuddin administered the oath at the Darbar Hall of Bangabhaban in the presence of Chief Adviser Prof Muhammad Yunus and senior government officials and dignitaries. The swearing-in-ceremony…
Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan asked the forest department no longer to plant eucalyptus and acacia trees. She instructed the department to conserve all tree species, except eucalyptus and acacia, planted along roadsides under a social forestry program. The environment adviser made the directives in a special meeting on Tuesday held at…
In a heartfelt acknowledgment of their invaluable contributions, the country is set to honour its expatriate workers with a new lounge at the Dhaka airport designed to make their journeys more comfortable. Recognized as the true architects of national progress, these workers played a pivotal role in the July-August uprising, and the nation remains deeply…
A report by Market Forces, Waterkeepers Bangladesh, and Dhoritri Rokkhay Amra (DHORA) reveals that the development of new liquefied natural gas (LNG) power projects and import terminals could cost the Bangladesh economy an estimated US$50 billion. The report also warns that these projects pose significant risks to the health and safety of millions of Bangladeshis,…
All criminals will be brought to book irrespective of their identity and party affiliations, said Home Affairs Adviser Lieutenant General (retd) Md Jahangir Alam Chowdhury. “No concessions will be given, no matter which political party he belongs to or any other force,” said the home adviser during a press briefing after a special meeting to…
The development myth created during the previous Awami League regime looks set to be busted as a committee formed by the interim government started revealing the tricks behind the fairy-tale data. Though the committee assigned to draft a comprehensive White Paper on the state of the country’s economy has not yet made any formal disclosure,…
Bangladesh has drafted the Cross-Border Digital Commerce Policy 2024, marking a significant step towards integrating the economy with the global digital marketplace as it looks to facilitate globally accepted payment methods. An internationally accepted payment system will be introduced for digital commerce which will be connected to the country’s existing payment systems, according to the…
As millions of Americans head to the polls on November 5 to vote for either Democratic Vice President Kamala Harris or her Republican rival Donald Trump, apparel business communities in Bangladesh, more than 13,119 kilometres away from Washington, will be watching the results of the presidential election closely. The reason is largely related to trade,…
Uzbekistan has secured the third spot among the fastest-growing economies in Europe and Central Asia for 2024, according to a recent report by the World Bank. The country’s GDP growth this year places it in the top three among more than 20 emerging markets and developing economies in the region. Leading the region in GDP…
When the construction of the Padma Bridge was finally completed in 2022, Sheikh Hasina and her cronies gloated that they had shown the world that Bangladesh can build a bridge with its own money. Indeed, the bridge was almost entirely self-financed, though the construction cost was highly inflated. But this encouraged Hasina to make even…
President Mohammad Shahahuddin has said he has no documentary proof of the resignation of ousted Bangladesh prime minister Sheikh Hasina. “I have heard that she has resigned. However, I do not have any documentary proof. Despite trying hard, I couldn’t obtain it,” he told Manab Zamin Chief Editor Matiur Rahman Chowdhury, who met the president…
The advisory council has given the final approval in principle to the draft of the Interim Government Ordinance, 2024. This approval was given during a meeting of the Advisory Council held on Thursday (19 September), presided over by Chief Adviser Prof Muhammad Yunus, said a press release. According to the press release from the Cabinet…
It may seem that detained tycoon Salman F Rahman’s flagship company, Beximco Limited, which primarily operates in textiles, discovered Aladdin’s lamp in 2021-22, with revenue skyrocketing from Tk1,982 crore to Tk7,336 crore in just two years. In that year, Beximco launched the first Sukuk bond—an Islamic asset-backed borrowing instrument—to finance its 200MW Teesta Solar Power…
The World Bank (WB) is ready to be a part of key economic reforms of the interim government, a visiting top official of the multilateral lender said on Thursday. Martin Raiser, a vice president (VP) of the World Bank, made the comments after meeting Chief Adviser (CA) Professor Muhammad Yunus at his Tejgaon office in…
Experts have collectively noted that the government service holders, constitutional post holders and the judiciary are the highest beneficiaries of the current income tax law. They have noted this disparity as unconstitutional and urged reforms as all citizens are equal, hence, the laws must be equally implemented on all. The taxation experts expressed that the…
The closed Kazipara metro rail station will resume operations from tomorrow (20 September). Mohammad Abdur Rouf, managing director of Dhaka Mass Transit Company Limited (DMTCL) provided this information today (19 September). “The Kazipara Station will open from tomorrow. A total of Tk20.5 lakh has been spent to make it operational. However, it’s being opened quickly…
Noting that Bangladesh’s industry will reach new heights, Chief Adviser Dr. Muhammad Yunus said his government is determined to protecting factories from vandalism and attacks. He said this when a business delegation met Professor Yunus at state guesthouse Jamuna on Tuesday (September 3). Six business leaders met with the Chief Adviser of the Interim Government…
The National Board of Revenue (NBR) has scrapped the opportunity to whiten black money by paying 15 per cent tax. The NBR on Monday issued an SRO in this regard. The deposed Sheikh Hasina government in the last budget allowed black money to be whitened by buying immovable assets, including land, flats and plots, along…
Bangladesh Bank (BB) has announced a special facility for flood-affected farmers and CMSME (Cottage, Micro, Small and medium enterprises) entrepreneurs to repay the loan installments. In this case, August installments of short-term agriculture and CMSME sector term loans in these areas can be repaid over three months. The Banking Regulations and Policy Department (BRPD) of…
Chief adviser of the Interim Government professor Dr Muhammad Yunus will be attending the 79th United Nations General Assembly (UNGA) later this month. However, his visit will be brief, said foreign affairs adviser Md Touhid Hossain today, Sunday. “However, the date of chief adviser’s departure has not been finalised yet,” he told reporters at the…
The death toll from the recent flood in 11 districts has climbed to 54 with 2 more deaths reported in Feni district till Friday, according to the report of Disaster Management and Relief Ministry. Among the deceased, 14 people died in Cumilla, six in Chattogram , 19 in Feni, eight in Noakhali, three in Cox’s…
The recent catastrophic floods have plunged southeastern and eastern regions across Bangladesh and severely impacted the livelihoods of countless people. In response to this urgent situation, Banglalink, a leading digital operator in Bangladesh, has signed a Memorandum of Understanding (MoU) with the Bangladesh Army on Saturday to urgently deliver immediate relief to the flood-affected people,…
The Awami League governments had borrowed heavily from local and foreign sources over the 15 years with the Sheikh Hasina government leaving behind a legacy of Tk 18.36 trillion in debts, mostly taken from domestic sources, and in particular from the country’s banking sector, according to an analysis of data on foreign and domestic borrowings…
Bangladesh has retained the second position in global garment trade with 7.4 percent market share although the country’s exports, according to the World Trade Organisation (WTO), was $9 billion less than the estimates of the Export Promotion Bureau (EPB). The WTO in its flagship “World Trade Statistics 2023” released on July 31 said Bangladesh exported…
Referring to the countrywide recent havoc and atrocities, Prime Minister Sheikh Hasina today said that she had an apprehension there might be a strike like this by the BNP-Jamaat clique to pull down the country’s prosperity. “They (BNP-Jamaat) had wanted not to hold the elections, but we had arranged the elections. After the election they…
Prime Minister and governing Bangladesh Awami League president Sheikh Hasina Tuesday called upon the leaders and workers of her party and its associate bodies, affluent section of the society and well-wishers to extend hands of cooperation to the country’s lower income, poor and working class people. In a statement, she said the life and livelihood…
Bangladesh and China elevated their bilateral relations to “strategic partnership” from trade and economic cooperation when Chinese President Xi Jinping visited Dhaka eight years ago. Bangladesh also joined the country’s Belt and Road Initiative (BRI), the main enterprise of China’s foreign and strategic policies, at that time as well. This time China is keen to…
Prime Minister and Leader of the House Sheikh Hasina gives valedictory speech in the third and budget session of the 12th parliament with Speaker Shirin Sharmin Chaudhury in the chair on 3 July 2024BSS Prime Minister and Leader of the House Sheikh Hasina Wednesday told the Jatiya Sangsad (parliament) the Awami League doesn’t sell the…
A Cabinet committee on procurement has approved the proposal to buy LNG cargo worth Tk609.27 crore from the United States. This is the 21st LNG cargo to have been approved for import this year, Cabinet Secretary (Coordination) Mahmudul Hossain Khan told reporters following a Cabinet meeting today (3 July). A total of nine proposals were…
The situation is worsened by the issuance of fake demand letters, leaving some workers stranded as their prospective employers face blacklisting by Malaysian authorities for corruption. Thousands face delays reaching Malaysia due to recruiting agency mismanagement May 31 is the last day for workers to arrive under a Malaysia-Bangladesh deal Some agencies provided workers with…
Bangladesh – Chief of Army Staff of Bangladesh General SM Shafiuddin Ahmed has dismissed allegations against several army officers, calling them baseless and driven by ulterior motives. His comments came during a press briefing on Monday following the inauguration of the 12th Annual General Meeting and Workshop of the Association of Asia-Pacific Peace Operations Training…
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has announced a loan commitment of 50 million US dollar to BRAC Bank, a leading SME bank in Bangladesh, to support small businesses and women entrepreneurs. The loan will provide vital funding to support the growth of micro, small, and medium enterprises…
Civil Aviation and Tourism Minister Muhammad Faruk Khan said the United Kingdom (UK) wants to work together for the development of Bangladesh’s aviation industry. He made the remark while speaking to journalists after a meeting with Anne-Marie Trevelyan, Minister of State in the Foreign, Commonwealth and Development Office of the United Kingdom, held at his…
A new study by the Center for Policy Dialogue (CPD) found that high levels of corruption impact all business sectors, with 100% of large companies, 66.67% of medium-sized enterprises, and 61.9% of small and micro enterprises reporting it as a major issue in Bangladesh. The study also showed that 58.6% of businesses report that bribes…
Bangladesh and Turkey can serve as the gateway of trade and business between Europe and South and Southeast Asia, said Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). “Bangladesh and Turkey offer huge untapped potential of trade and business,” he said while addressing a visiting delegation from the Foreign…
Prime Minister Sheikh Hasina has called upon Brazil to import directly Readymade Garment (RMG) products from Bangladesh. “RMG goods from Bangladesh have been being exported to Brazil on a limited scale through the third party. It will be more affordable for Brazil if the country directly imports RMG items from Bangladesh,” she said. The premier…
Prime Minister Sheikh Hasina will pay a six-day official visit to Thailand from Wednesday at the invitation of her Thai counterpart Srettha Thavisin to strengthen ties between the two countries. Bangladesh and Thailand will sign a number of cooperation documents including a letter of intent on negotiations for free trade agreement between the two countries,…
The ruling Awami League (AL) has directed the offspring, family members and close relatives of ministers and members of parliament from the party to refrain from participating in the upcoming upazila elections. AL President Sheikh Hasina has given the directive, emphasising the need for fair, impartial, and effective elections. According to party sources, AL General…
Chief of Army Staff General SM Shafiuddin Ahmed yesterday said Bangladesh military does engage with its Myanmar counterpart but with considerable apprehension. “Many Myanmar military leaders have international sanctions [against them], so, there is a risk of putting ourselves into trouble when we do that [further engagement].” He made the statement as the chief guest…
Bangladesh and Thailand may sign at least six MoUs on trade, investment and cooperation in energy and tourism sectors during Prime Minister Sheikh Hasina’s visit to the Southeast Asian country on April 24-29. Discussing a free trade agreement between the two countries may also be a top priority, said foreign ministry officials. “Bilateral trade is…
The shares of Mutual Trust Bank and Shahjalal Islami Bank both experienced declines yesterday following the announcement of dividends for their shareholders for 2023. The banks also unveiled their financials for the last year on the websites of both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE). After three years, Mutual Trust…
SM Rezaul Alam, a sponsoring director of the local electronics giant Walton Hi-Tech Industries, has announced plans to sell three lakh shares to raise the company’s free-float shares to the required 10% level in the secondary market. Rezaul, who now owns 3.89 crore shares of Walton, expressed his intention to sell some of his shares…
Bangladesh and Nepal have emphasised the operationalisation of the Bangladesh, Bhutan, India, Nepal (BBIN) Motor Vehicles Agreement (MVA) framework to contribute to each country’s economy not only by expanding trade and connectivity but also by creating more opportunities to promote people-to-people contacts. Bangladesh also emphasised the expeditious conclusion of a tripartite power agreement among Bangladesh-India-Nepal…
Foreign Minister Hasan Mahmud has called upon the world community to allocate $10 billion as committed by them for the overall development of ecosystems and green shipping. He also called for ratifying the Biodiversity Beyond National Jurisdiction (BBNJ) treaty and the restoration of the biodiversity of the oceans. The minister made the call to a…
Indian Foreign Secretary Vinay Mohan Kwatra is likely to visit Bangladesh on Saturday as part of preparations for Prime Minister Sheikh Hasina’s visit to New Delhi. “The prime minister will visit India after the Indian elections that will end by the first week of June. So, our PM’s visit will take place either in June…
US Ambassador to Bangladesh Peter Haas today inaugurated American bakery franchise Cinnabon in the capital today. “Ambassadors often find themselves in sticky situations, but this is one I welcome joining in!” remarked the ambassador, his eyes gleaming with anticipation as he ordered lots of iconic swirls of Cinnabon’s signature treats at Nilufa Heights on Kemal…
Jonaki Fragrance, the nation’s premier fragrance brand, established in 2020 by the esteemed interior designer Nasreen Zamir, has been a beacon of olfactory excellence in Bangladesh. Evolving from its inception, Jonaki (firefly) ventured beyond fragrances, delving into beauty products and attars. Originally available through select outlets such as Perfume Bangladesh, Dhali, Unimart, Almas, and its…
There will be a 15 per cent value added tax (VAT) on the tickets of metro rail in Dhaka from 1 July. As the tax burden is usually passed on to the consumers, the metro rail fare is likely to rise in proportionate with the tax rate. In this regard, the VAT Division of the…
Jamdani weavers in full swing for Eid festivities Workers at the Abul Kalam Jamdani Weaving Factory in Rupganj, Narayanganj, are diligently engaged in weaving sarees. Photo: Syed Zakir Hossain With 14 weaving machines and a team of 28 skilled workers, the factory is operating at full capacity to meet the increasing demand for its products…
The merchandise exports have been above the threshold of $5 billion for the fourth consecutive month as the country registered exports worth $5.1 billion in March. There was an year-on-year increase of 9.88 per cent in exports in March, according to the latest data released by the Export Promotion Bureau (EPB) on Tuesday. The cumulative…
Prime minister Sheikh Hasina will visit New Delhi after the general elections in India but the date of the visit has not been finalised, foreign minister Hasan Mahmud has said in his office on Wednesday afternoon. When asked citing the Indian media reports that prime minister Sheikh Hasina will visit India at the last week…
Home minister Asaduzzaman Khan said members of militant outfit Kuki-Chin National Front’s (KNF) members were involved with a robbery attempt in Sonali Bank’s Ruma branch. The militants have abducted Sonali Bank’s branch manager. The minister said this to journalists at the secretariat today. Earlier on Tuesday night, the KNF militants attacked the Sonali Bank branch…
The pressure to repay the foreign debts is mounting on the country gradually. The repayment of foreign debts has exceeded USD 2 billion in the first eight months of the current fiscal. Bangladesh had to repay a total of USD 2.03 billion from July to February, which is 43 per cent more as compared to…
Two specialist physicians from the United States arrived in Dhaka on Wednesday evening to assist in the treatment of BNP Chairperson Khaleda Zia. Dr Hamid Rabb and Dr James PA Hamilton from Johns Hopkins University’s School of Medicine reached Hazrat Shahjalal International Airport around 7:15pm, said BNP Chairperson’s media wing member Shamsuddin Didar. He said…
“Witnessing all this…people who were mutilated in front of me. There was nothing I could do as a doctor” Photo: Eashfinul Haque Munim “It’s like what happens to a paper when you tear it into a thousand pieces. That’s what happened to the two coaches behind us when the freight train hit,” recounted Eashfinul Haque…
Crude oil hovered above $90 a barrel while equities were weak and the safe-haven dollar was firm on Monday as investors nervously watched for whether escalating violence in Gaza would cause the conflict to spread beyond Israel and Hamas. Israel’s shekelILS=D3 sank to a nearly eight-year low, after the country’s prime minister, Benjamin Netanyahu, vowed to “demolish Hamas”…
The CMSF seeks applications from intermediaries interested to avail the loan. The Capital Market Stabilisation Fund (CMSF) has decided to disburse loans of Tk2 crore to each applicant stock market intermediary, enabling them to make investments in the capital market. The loan disbursement amount was finalised at the fund’s board meeting held on 11 October,…
Justice Md Emdadul Haque Azad, a High Court judge who recently likened the country’s situation to the hell, didn’t attend the court on Sunday, his last working day. As Justice Emdadul was sick, he couldn’t attend the court on the last working day, said Md Golam Rabbani, registrar general of the Supreme Court. However, sources…
Bangladesh has been running near double digit inflation for well over the past 12 months. This spells trouble for a government at any time, but this is especially worrisome in an election year. It is, therefore, hardly surprising that the Prime Minister has asked her economic team to fight and lower inflation quickly by all…
No attempt to thwart the election should be made from outside the country, Prime Minister Sheikh Hasina has warned pointing to those who are saying that they would impose sanctions on the country. She said, “If attempts are made to manipulate the election from outside our borders, the people of Bangladesh may also respond with sanctions.…
According to data from the Bangladesh Competition Commission, local manufacturers can fulfil 50% of the demand in the capital and only 30% of the demand outside TBS Illustration Libra Infusions Ltd, the largest saline manufacturer in the country, has slashed its production by 75% due to what it claims is a capital shortfall, just as…
Global Financial Integrity (GFI) – a Washington DC-based think-tank that focuses on illicit financial flows – has published a number of reports on money laundering in Bangladesh. These reports found that Bangladesh is a major source of illicit financial flows, with billions of dollars being laundered out of the country each year. The main methods of…
The Copyright Bill 2023 was passed in Parliament today providing a penalty of Tk 5 lakh for publishing, serving, or performing any work of others without having copyright of such content. For the violation of copyright of films, the maximum punishment is five years of imprisonment and Tk 10 lakh in fine. State Minister for…
The Executive Committee of the National Economic Council (ECNEC) today approved a Taka 3,751.09 crore project to establish 50 technical training centers (TTC) at upazila level in the country to improve the skills of the aspiring youths, willing to go abroad, imparting through necessary training. The approval came from a meeting of the ECNEC held…
In Bangladesh, one in every 12 elderly people suffers from dementia, with a higher prevalence among women than men, according to a study carried out by the International Centre for Diarrhoeal Disease Research, Bangladesh, icddr,b. Additionally, the risk of dementia is high among people with no education. Notably, Rajshahi division exhibits increased dementia prevalence, as…
The Police Bureau of Investigation (PBI) has arrested eight individuals for their involvement in the alleged torture and abduction of a youth expatriate in Iraq, a case that was reported by his family nearly two years ago. The arrested individuals are family members, residing in Bangladesh, of those persons implicated in the crime in Iraq.…
The cabinet has given the final approval to the draft Cyber Security Act 2023, which will replace the controversial Digital Security Act, making all offences bailable except for those under four sections. Illegal access to critical information and computer infrastructure, cyber terrorism offences, hacking-related offences and desecration of the national flag and the Liberation War…
Addressing BNP leaders, the Awami League General Secretary and Road Transport and Bridges Minister Obaidul Quader has said they can do politics but there will be repercussions if they immolate people. The BNP’s movement has fallen flat as no movement can be created by calling it online from London, Quader said at a rally in…
Bangladesh and the United Kingdom (UK) will hold the next round of strategic dialogue in Dhaka in September’s second week. Officials from the both sides are now working on the agenda of the dialogue and an inter-ministerial meeting is likely to be held on August 27, reports UNB. The strategic dialogue is likely to be…
Saudi Arabia is set to introduce the Nusuk platform in Dhaka on Thursday, aiming at enhancing the convenience for Bangladeshi Hajj and Umrah pilgrims. A Saudi delegation led by the Minister of Hajj and Umrah Tawfig Al-Rabiah is visiting Dhaka on Thursday. The purpose of the delegation’s visit is to advance Saudi Arabia’s initiatives aimed…
Following successful roll-outs in the United Arab Emirates (UAE), the Election Commission (EC) now plans to provide smart national identity (NID) cards to Bangladeshi expatriate voters living in the United Kingdom and Saudi Arabia. Election Commission Secretary Jahangir Alam conveyed the decision at a press briefing on Monday following an Election Commission meeting. The secretary…
Bangladesh is struggling to move beyond low-end readymade garment (RMG) products while exporting to the United States (US) and European markets. The situation has turned so acute that the country now ranks third on the list of low-cost RMG product exporting countries, following China and Pakistan. Now, Bangladesh is the world’s second-largest exporter of RMG…
15 candidates from Sammilito Baboshayee Parishad panel and eight candidates from Baboshayee Oikyo Parishad panel were elected directors of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The 23 candidates were elected directors from association group for 2023-25 tenure during the biennial election of the apex trade body held on Monday, according to…
The Infrastructure Development Company Limited (IDCOL) has extended $20 million long-term loan to Dhaka RAD Elevated Expressway Company Limited (DREECL), an SPV (Special Purpose Vehicle) formed to implement a PPP project, says a press release. The project is designed to improve Hatirjheel (Rampura Bridge)-Shekherjaiga-Amulia-Demra Road (with link to Tarabo and Chittagong Road). A loan agreement…
Non-basmati white rice, which India has banned for export, is mainly purchased by Senegal, Benin, Togo, Bangladesh, and Cote d’Ivoire. Labourers unload rice bags from a supply truck at India’s main rice port at Kakinada Anchorage in the southern state of Andhra Pradesh, India, on 2 September 2021. PHOTO: REUTERS Indian rice exporters have been…
Chinese Special Envoy for Asian Affairs Deng Xijun held two separate meetings in Dhaka and discussed issues of mutual interest, including the thorny issue of Rohingya repatriation. This is his second visit within less then four months and he had meetings with Foreign Minister Dr AK Abdul Momen and Foreign Secretary Masud Bin Momen separately…
Social networks circulated a video showing a group of citizens blocking the way of a bus carrying passengers and throwing stones at its window on the road passing through the territory of Akdarya district of Samarkand region. Photo: Frame from the video According to the regional DIA, on July 28, in the Gallaorol district of…
Japan is becoming a major trading partner of Bangladesh in terms of export and investment. The country’s manufacturers have set a target of $10 billion in apparel export earnings from Japan by 2030. Also, Japan has emerged as a major source of investment for Bangladesh in recent years. Bangladesh first export to Japan among the…
Bangladesh has set eyes on doubling its garment exports to Australia, which is one of the largest and potential markets for Bangladeshi apparel, within the next five years. Entrepreneurs in the sector are optimistic that Bangladesh can capitalise the expected reduction in China’s garment exports to Australia, much like it has successfully done in Europe…
Thirteen more dengue patients have died and 1,533 were hospitalised across the country in the last 24 hours till Tuesday morning which is the highest dengue death in a single day this year. With the latest figure, a total of 127 dengue patients have died in the country and 24,000 were admitted to hospitals this…
As global interest rates continue to rise, Bangladesh faces a considerable increase in its foreign debt servicing liabilities. To compound the challenge, an internal calculation by the Economic Relations Division (ERD) reveals that the government is expected to see a $1.5 billion decline in net financing from external sources next fiscal year and $2 billion…
Prime Minister Sheikh Hasina’s ICT Affairs Adviser Sajeeb Wazed Joy said Awami League (AL) brought back democracy in the country by confronting the violent claws of dictator-extremists. He wrote this in a facebook post from his verified account today along with uploading a video content. “After wresting victory from the Pakistanis in 1971, Bangladesh struggled…
Ministry of Public Administration has announced a general holiday along with restrictions on vehicular movement during the by-election in some parts of Gulshan, Banani, Baridhara, and Cantonment areas Voter turnout has been low as voting started for the Dhaka-17 by-election at 8am today using ballots. Voting will continue till 4pm on Monday (17 July). Only…
Dengue cases were on the rise at the Rohingya camps in Cox’s Bazar, with 619 Rohingyas being infected with the mosquito-borne disease here in 24 hours till Monday morning. According to Cox’s Bazar civil surgeon’s office, out of the 668 people that were admitted to different health centres in the district during the period, only…
Faltering footwear, leather industries: Why Bangladesh fails to capitalise on raw material advantage
Bangladesh lags far behind its economic peers in footwear and leather product exports, exposing the country’s insufficient focus on a sector that possesses a key advantage – regular access to the main rawhide – which its competitors lack. For instance, Bangladesh, despite having started footwear and leather product exports earlier than Vietnam, lags significantly behind…
From road-rail to seaport and airport, under-river tunnel to elevated expressway, water utility to e-governance, coal to solar – China makes its presence felt everywhere. Apart from being a major importing partner, the Asian economic powerhouse has expanded its foothold in much-needed infrastructures in Bangladesh with cash, technology and expertise. Though this bilateral partnership has…
A delegation of 25 chief executive officers (CEOs) and founders of major African and central Asian textile, apparel, and footwear companies, accompanied by the representatives of prominent global brands, is now visiting Bangladesh on a two-day tour to encourage low carbon emission and share of knowledge in the sectors. The delegation reached Bangladesh on June…
Apparel exports to the non-traditional markets reached $7.68 billion with 32.74% year-on-year (YoY) growth in the first eleven months (July-May) of FY23, higher from $5.79 billion in the same period of the last FY22, according to the Export Promotion Bureau data, compiled by the RDTI cell of the BGMEA. The United States, Canada, the United…
Bangladesh has very recently made its first payment in the local currency, taka, for a predominantly foreign loan-funded project — indicating a possibility of being quite a game-changer. The project in question involves the construction of a 24-kilometre elevated expressway connecting Dhaka to Ashulia, with an estimated cost of Tk17,653 crore (approximately $1.2 billion). China…
Representatives from the brokerage and merchant banking sectors reiterated their recommendations to foster a vibrant capital market during a meeting with the Dhaka Stock Exchange (DSE) on Sunday (18 June). The meeting, chaired by DSE Acting Managing Director M Shaifur Rahman Mazumdar, highlighted concerns regarding the proposed income tax act’s impact on new investor encouragement,…
Mohammad Kabir Hossain learned the nuts and bolts of bus building from his guru Ladla at the Ryad Engineering Workshop in Savar. Although Ladla is an expert in building AC buses, he also taught Kabir how to build non-AC buses and minibuses. “In 2000, at the age of 20, I joined the workshop as a…
Bangladesh, a densely populated country with a population of around 170 million, primarily relies on rice and vegetable cultivation to meet its food requirements. The limited availability of land poses a significant challenge for diversifying agricultural practices, making cotton cultivation seem unfeasible. However, through the adoption of regenerative agricultural practices, new possibilities emerge for integrating…
Despite the numerous challenges and supply chain disruptions in the textile industry – the textile machinery makers strive to bring the innovations and developments in the technology. Manufacturers have developed technological solutions that increase product and process efficiencies to counter the ongoing challenges. With the continuous innovation, more efficient machinery is being produced which consumes…
The elections were held in an overall orderly and festive atmosphere, said Kazi Habibul Awal, the chief election commissioner After a day-long vote in Khulna and Barisal amid a peaceful atmosphere on Monday, the two ruling Awami League-nominated mayoral candidates became victorious, defeating their closest contestants from Islami Andolan Bangladesh (IAB) by a margin of…
A week ago, the BNP expelled 43 leaders, including a mayoral candidate, for life for contesting the election The Sylhet metropolitan unit of the opposition BNP has instructed presidents and secretaries of 27 wards to make lists of party workers participating in any kind of election campaigning on behalf of the expelled mayor or councillor…
Despite the much effort, such as international road shows, the negative trend in foreign investments in the country’s bourse has continued since 2018. Investors from the United States of America, in particular, have dropped dramatically in 2022. According to the latest Bangladesh Bank projection, US investment in Bangladesh’s stock market will shrunk by 33.7% in…
The government hopes that the country’s current account deficit will go within the next two years after being negative for most of the past decade. In the medium term, the balance of payments (BOP) will improve further, and the current account balance would return to a positive quadrant by the end of FY26, said the…
Celebrate the most important woman in your life with the ultimate Mother’s Day experience at Crowne Plaza Dhaka Gulshan. We are excited to announce our special Mother’s Day promotions on May 14, where we are offering two exciting offers that are sure to delight all the lovely mothers out there, reads a press release. Give…
The just-concluded 2022 was a year of turning around and rebuilding the economy, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said Saturday, reports news agency UNB. The BGMEA, the apex body of apparel sector businesspersons in the country, said this as revellers in major city centres across the world ushered in the first New…
Yesterday, officials from Malaysia said that the country has seen a rise in the number of Bangladeshi tourists whereas Nepal has seen a fall in the same statistic. On the other hand, the crash of the US-Bangla airlines in Kathmandu in 2017 resulted in a significant loss of tourism for the Himalayan nation, with arrivals…
As part of the festivities commemorating the occasion, the high commission on Tuesday presented visas to three independence warriors during a ceremony held at the Indian Visa Application Centre located in Jamuna Future Park in Dhaka. The Indian High Commissioner in Bangladesh, Riva Ganguly Das, presented the liberation fighters with visas that allowed them multiple…
In accordance with the Sustainable Development Goals, there will additionally be an emphasis placed on the environment. According to their long-term plan, the apparel manufacturers in the country want to reach an export value of $100 billion by the year 2030. They plan to do this by diversifying their product offerings, placing a greater emphasis…
Since prices of cotton have begun to fall on international markets, local exporters of ready-made garments are anticipating a significant increase in the number of work orders beginning in December. This is due to the fact that cotton prices have begun to fall. As a result of the declining cost of yarn in the regional…
Bangladesh is the second-largest exporter of ready-to-wear clothing in the world, earning more than $35 billion in annual revenue. Even though cotton is a major raw material for the clothing sector, the country must pay $5 billion in import bills yearly because of its strong import dependence on the commodity. Since the introduction of pest-resistant…
Cotton Brazil, a development program for the Brazilian Cotton Growers Association (ABRAPA), recently held its sellers mission event in Dhaka, with the primary focus being on the organisation’s commitment to ensure short-, medium-, and long-term business continuity through the export of Brazilian cotton. In recent years, there has been a rise in the demand for…
S. Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade, A. Ikramov, Chairman of the Chamber of Commerce, and Salmon Fazlur Rahmon, Adviser to the Prime Minister of Bangladesh on the Private Sector, Industry, and Investment all participated in the event. Over twenty government officials and representatives of Bangladesh’s business community, in addition…
Prime Minister Sheikh Hasina today said Bangladesh is now a model country in the world in disaster management as it has been able to ease disaster risks remarkably. “Today, Bangladesh is appreciated for effective disaster management for the initiatives we’ve taken following the footsteps of the Father of Nation,” she said while addressing a virtual…
Prime Minister Sheikh Hasina has received the ‘SDG Progress Award’ in recognition of Bangladesh’s achievements in sustainable development from 2015 to 2020. The award was given to the prime minister as part of the 9th Annual International Conference on Sustainable Development in New York on Monday. The virtual event was jointly organised by the UN…
Bangladesh has offered Uzbekistan to launch a direct Dhaka-Tashkent flight to strengthen bilateral relations between the two countries. Bangladesh has also requested Uzbekistan to set up its own embassy in Dhaka. The proposals were made when a four-member Bangladesh delegation led by Salman F Rahman, private industry and investment affairs advisers to the prime minister,…
Uzbekistan wants to take ‘IT enabled’ services from Bangladesh. On the other hand, Bangladesh wants to take part in the research and development of the country. To this end, the two countries have agreed to sign a memorandum of understanding. The two sides agreed during a meeting in Tashkent on Sunday with a delegation of…
The prospects to resume buying cotton from Uzbekistan have improved for Bangladesh after the United States lifted the ban on sourcing the key textile raw material from the country following significant progress in ending forced labour. Until 2007, when a boycott campaign was launched against Uzbek cotton, the central Asian country was the single largest…
Bangladeshi investors will get tax exemption and duty-free facilities if they invest in Uzbekistan, Sardor Umurzakov, deputy prime minister of Uzbekistan, said on Monday. Bangladeshi businesses will also get policy supports for joint ventures, Umurzakov added. Umurzakov offered the benefits to Bangladesh at a view exchange meeting between the leaders of FBCCI, the top business…
Bangladesh is a good place to invest in. Some Indian companies have already expressed their desire to invest here, said Indian High Commissioner (HC) to Bangladesh, Vikram Doraiswami. He said India currently has investments of $3.5 billion in Bangladesh. The establishment of the government’s Special Economic Zones (SEZ) will create opportunities for more investment. He…
The Bangladesh Embassy in Tashkent, the capital of Uzbekistan, observed the 46th Martyrdom Anniversary and National Mourning Day of Father of the Nation Bangabandhu Sheikh Mujibur Rahman on 15 August with due solemnity and dignity. The embassy said in a statement on Sunday, Bangladesh’s ambassador to Uzbekistan. Jahangir Alam started the day by hoisting the…
Bangladeshi fashion designer and former international model Bibi Russell’s social enterprise runs on the motto ‘Fashion for Development’. She is a beacon to budding social entrepreneurs, leading by example as she empowers weavers, artisans and craftsperson. In this year’s Cannes Film Festival, we saw the handloom heritage of Bangladesh, Dhakai Jamdani make a red-carpet entry.…
The pharmaceutical industry of the country is going to make a giant stride as local companies are setting up factories in a dedicated park near Dhaka to produce active pharmaceutical ingredients (APIs) to reduce dependence on import for key raw materials for drugs. At least five companies including Acme, Healthcare, UniHealth and Ibn Sina have…
Bangladesh, the country whose infrastructure was ravaged by the Pakistani occupation force in 1971, has stridden far ahead of Pakistan, the country it obtained independence from, in the last 50 years, observed IFFRAS, an international think tank headquartered in Toronto, Canada. Praising Bangladesh for its resilience in dealing with the economic challenges during the pandemic,…
The 72nd birth anniversary of Shaheed Sheikh Kamal, a valiant freedom fighter and the eldest son of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, was observed at different Bangladesh missions abroad. Bangladesh High Commission in New Delhi, the Deputy High Commission of Bangladesh, Mumbai, Bangladesh High Commission in Canberra, Australia, Bangladesh Embassy in Tashkent,…
On 3 August 2021, the Uzcharmsanoat Association organized a press conference on the theme “Development of the leather, footwear and fur and fur industry in 2016-2020.” The event was attended by the leadership of the Association, representatives of state and non-state media, bloggers. First of all, the speakers focused on the main goal set by…
Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun has said the Bangladesh government continues investment services despite pandemic to allure investors to come with their new ventures here. “Investors from home and abroad are being able to invest easily in Bangladesh despite pandemic. Bangladesh is keeping open all sorts of services through ports,…
The Uzbekistan government is set to take steps to open its embassy in Dhaka, according to a foreign ministry press release. Uzbek foreign minister Abdulaziz Kamilov asked officials of his ministry to start necessary steps for opening the embassy in Dhaka when foreign minister AK Abdul Momen met Uzbek president Shavkat Mirziyoyev in Tashkent on…
UN Secretary-General Antonio Guterres’ comments came as clashes between the Afghan government forces and the Taliban intensified since U.S. troops began to withdraw from the country. The countries of Central and South Asia can only fully benefit from potential opportunities if the region at large is at peace, UN Secretary-General Antonio Guterres has said, underlining…
Bangladesh and Uzbekistan have discussed the prospects for expansion of multifaceted cooperation between the two countries. Foreign Minister Dr AK Abdul Momen had a meeting with Uzbekistan President Shavkat Mirziyoyev at the International Conference on ‘Central and South Asia: Regional Connectivity, Challenges and Opportunities’ in capital Tashkent on Friday. At the meeting, the two sides…
Foreign Minister Dr AK Abdul Momen on Thursday held a meeting with his Indian counterpart Dr S Jaishankar at Tashkent, Uzbekistan and discussed issues of mutual interest. “Happy to meet Bangladesh Foreign Minister Dr AK Abdul Momen on the sidelines of the Tashkent Connectivity Conference. A good opportunity to review the progress in our ties,…
With COVID-19 causing the biggest paradigm shift in the world order, more and more people are beginning to realize how we, humans, had taken the Earth and all its blessings for granted. Even before this pandemic had begun, environmental activists like 15-year-old Greta Thunberg constantly made noise about the importance of adapting a circular economic…
H.E. Mr. Ilkhom Khaidarov Utkurovich, Chairman (with status of a Cabinet Minister) of “Uztekstilprom”, Association of Enterprises of the Textiles of the Republic of Uzbekistan and also former Ambassador of Uzbekistan visited Bangladesh Embassy on 11 July 2021 at 17.00 in order to discuss important bilateral issue with Bangladesh Ambassador H.E. Mr. Md Zahangir Alam.…
H.E. Mr. Md Zahangir Alam, Bangladesh Ambassador had a meeting with Dr. Adkham Bekmurodov Sharipovich, Rector of the Academy of Public Administration under the President of Uzbekistan (former Deputy Foreign Minister) on 7 July 2021 at the Academy of Public Administration in Tashkent. Rector informed that Academy has 3 directions: Masters, PhD and training &…
Over the years Bangladesh has emerged as one of the preferred places for studying medicine owing to the quality education it provides at an affordable price. This aspect draws thousands of international students, including many from neighbouring India, to Bangladesh every year when studying medicine is getting increasingly expensive in Europe, North America and other…
Despite the lengthy coronavirus pandemic, 13,613 new companies were registered in Bangladesh in the just-included fiscal year, highlighting the confidence of businesses in the economy. This is the highest firm registration in a single year, according to data from the Office of the Registrar of Joint Stock Companies and Firms (RJSC). The new company registration…
Prime Minister Sheikh Hasina’s two bold decisions have saved the export-oriented industries and the economy from a collapse, exporters said. The first one was announced on March 25, 2020 when the Prime Minister announced a Tk 5,000-crore stimulus package, solely for the garment exporters. She offered the support before the exporters’ demand. Keeping the factories…
A year after shutting down all its state-owned jute mills, Bangladesh is now in the final stage of shortlisting bidders who sought to operate these once-vibrant factories under lease arrangements. Bangladesh Jute Mills Corporation (BJMC) that used to operate the mills, now sifting through the lease proposals it received against an ‘expression of interest’ (EOI)…
Kyrgyzstan’s President Sadyr Japarov has lauded the success Bangladesh has achieved in garments and medicine sectors and urged the entrepreneurs of the south Asian country to invest in the landlocked nation. The government of Kyrgyzstan will extend all-out support, including allotment of land, to the interested Bangladeshi businesses, he said. He made the comments at…
Bangladesh has sent 207,885 workers to different countries in last five and a half months amid the Covid-19 pandemic, according to official statistics. As per the data of the expatriates’ welfare desk at Hazrat Shahjalal International Airport, a total of 168,178 male and 39,707 female workers went abroad with jobs during the period between January…
Ambassador of Bangladesh to Uzbekistan requested Uzbek President to establish the Embassy of Uzbekistan in Dhaka and resume the direct passenger flights Dhaka-Tashkent-Dhaka route to enhance bilateral communication in the fields of tourism, education, sports and culture. The new Ambassador, Md Zahangir Alam, presented his credentials on Friday to the Uzbek President, Shavkat Mirziyoyev. He…
Businesses are now deeply worried that resurgence of the Covid-19 might unsettle the recovery they have been making in recent months following a notable improvement in both infection and fatality rates. A number of businessmen while talking to the FE have expressed their deep frustration over such a possibility. The year-long crisis had badly affected…
Muzahid Khan, Managing Director of Janala Venture, describes his company’s assessment of the current business opportunities in Bangladesh. FOR MANY, Bangladesh is known for its garment trade, an industry that now accounts for nearly 78% of the country’s exports. It is second only to China in terms of the volume of its exports of clothing.…
“Showcase Bangladesh 2021: China-Bangladesh Investment Summit, a virtual platform jointly organized by Standard Chartered and Bangladesh Investment Development Authority (BIDA), was held recently. The virtual event showcased the partnership potential between Bangladesh and China and highlight the emerging strategic opportunities in a shifting global landscape. Over 400 delegates representing Chinese public and private sectors, policymakers,…
An expanded meeting with the heads of diplomatic missions of the Republic of Uzbekistan abroad was held at the Ministry of Investment and Foreign Trade, during which an analysis of their activities at the end of 2020 was carried out, as well as key priorities in work for 2021 were considered. The event was attended…
Governments and religious leaders in Muslim-majority nations are talking to vaccine makers, investigating production processes and issuing guidance in an effort to make sure concerns about products prohibited by Islam don’t interfere with Covid-19 inoculations, foreign media reported. On Friday, the high clerical council in Indonesia, with the world’s largest Muslim population, said that China’s…
The Ministry of Employment and Labor Relations of Uzbekistan hosted a meeting with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of Bangladesh to the Republic of Uzbekistan Jahangir Alam. During the talks, the Minister of Employment and Labor Relations, Nozim Khusanov, provided the guest with detailed information about the reforms aimed at ensuring…
Central Asian emerging economic power Uzbekistan is becoming a new favourable spot for exporting Bangladeshi manpower as a batch of 239 Bangladeshi workers flew to the country for the first time on Saturday. The workers reached the country by a special aircraft of Uzbekistan Airways at 10:30am from Hazrat Shahjalal International Airport (HSIA). Group Captain…
Commerce Minister Tipu Munshi has presented a five-point proposal for a digital, green and resilient post-pandemic business recovery at a Commonwealth dialogue. The Bangladesh High Commission in London and the Commonwealth Secretariat organised the virtual high-level Commonwealth B2B Connectivity dialogue on Monday. Bangladesh also paid tribute to Bangabandhu Sheikh Mujibur Rahman to mark his birth…
Foreign direct investment (FDI) inflow, a major component of spurring growth in a developing economy like Bangladesh along with other development tools, usually plays a big role in transferring technology, creating employment opportunities, and transforming traditional skills into high-end technology. Over the decades, with providing the world’s competitive facilities, namely lands, port infrastructures, cheaper labour,…
Some indicators of the Bangladesh economy have started to show positive signs in the recent period. Among those are remittances and exports of readymade garments (RMG), which were affected hugely since the outbreak of Covid-19 in Bangladesh in March 2020. Both these sectors are important sources of employment and foreign exchange income for the country.…
A high level meeting between leaders of knitwear sector under Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) and recently appointed Bangladesh Ambassador to Uzbekistan Mr Zahangir Alam was held at BKMEA Dhaka office on 17 September, 2020. The meeting was initiated and organized by Mr Mehdi Mahbub, Advisor to Uztextileprom (Uzbekistan Textile Association/ Ministry) and…
Bangladesh remains one of the top sourcing destinations after China for international clothing retailers and brands even during the coronavirus pandemic because of its competitive prices, according to a new report by leading supply chain compliance solutions provider QIMA. After Vietnam, India and Bangladesh, alternative sourcing options of choice are still largely countries in Asia,…
On 16 August 2020, the Bangladesh Ambassador designated to Uzbekistan, Mr. Zahangir Alam held a meeting with the Advisor to Uztextileprom (Uzbekistan Textile Association/ Ministry) and President of Bangladesh RMG Centre, Mr. Mehdi Mahbub at Ministry of Foreign Affairs in Dhaka. They had threadbare discussions to identify collaboration scopes between Bangladesh and Uzbekistan. An incumbent…
Bangladesh’s investment to gross domestic product (GDP) ratio rose in the just-concluded fiscal year, data from the Bangladesh Bureau of Statistics showed on Tuesday, in what can be viewed as an inexplicable development as most indicators were pointing towards a contrary scenario. The finance ministry itself projected a far lower investment to GDP growth in…
Investors seeking to do business in Bangladesh can now avail three more public services at the One-Stop Service (OSS) portal in the website of Bangladesh Investment Development Authority (BIDA). Previously, 18 information-related services were available, including 14 of the BIDA and ones of the Registrar of Joint Stock Companies and Firms, the National Board of…
Bangladesh has ranked 168th among 190 countries in the ranking of “Ease of the Doing Business 2020” by the World Bank. Last year, Bangladesh ranked 176th. One of the reasons for this improvement is that starting a new business has now become less expensive with the reduction of registration and name clearance fees. Yet, when you…
The government is strengthening the Bangladesh Investment Development Authority (BIDA) to make it is more sophisticated and investment-friendly. As part of reinforcing the investment promotion agency, the government is amending the BIDA Act which was passed sometime in 2016. The amendment is now in the final stage of approval by the ministry concerned. The amendment,…
Private Industry and Investment Adviser to the Prime Minister Salman F Rahman on Wednesday said Bangladesh will attain double digit next year in the global ranking of ease of doing business. He made the remark at a virtual meeting for the launching of three new services on the Online One Stop Service Portal of Bangladesh…
As the whole world collectively is trying to fight Covid-19, intense, devastating, and perhaps irreversible losses are being incurred by the small and medium business enterprises and by entrepreneurs who, for example, just got their products from the prototype stage before getting into the market. Now, as countries are competing for finding the vaccine that…
One fine morning Dipa, a millennial living in Dhaka, woke up to a clogged toilet. After getting the toilet fixed by requesting plumbing service through Sheba.xyz (online service market) Dipa rushed to work on a Pathao (ride-sharing platform) bike. She jump started the day by ordering a coffee on Hungrynaki (online food delivery company). Later…
Bangladesh’s per capita income grew to $2,064 in the FY20, which was $1,909 in the last fiscal year. The Bangladesh Bureau of Statistic (BBS) revealed the figures as provisional data on Tuesday. Meanwhile, Gross Domestic Product (GDP) growth was recorded at 5.24% in the fiscal year 2019-20 which was 8.15%, the highest…
Bangladesh’s financial sector will have to adopt new technologies and services in the post-Covid-19 period for the lenders to move their operations online and address the recent challenges faced by the industry, speakers said at a webinar yesterday. The coronavirus could be a boon for digital financial services (DFS) and although Bangladesh has already seen…
Bangladeshi entrepreneurs may be allowed to make equity investment aboard up to 25 per cent of their net annual income from exports, officials said. However, they will have to take prior permission from the government for the purpose, according to the draft ‘Capital Account Transactions (Overseas Equity Investment) Guidelines 2018’, prepared by the Bangladesh Bank.…
Commerce Minister Tipu Munshi has asked Bangladesh embassies of different countries to work to take advantage of post-Covid-19 export trade. “For this, the ambassadors posted in different countries have to play an important role. Saudi Arabia, Kuwait and Uzbekistan are friends of Bangladesh. There are huge demands for Bangladeshi products in the countries. Trade opportunities…
The central bank is going to introduce a facility under which Bangladeshi expatriates will be able to open deposit accounts in any banks in Bangladesh. The deposit scheme will be in the form of savings for a period of one year or above with monthly or quarterly deposit options. Foreign currency will be converted into taka in…
Now employees of state bodies, public organizations, business entities, representatives of the social sphere and the media, as well as compatriots abroad who have made a worthy contribution to the development and popularization of the tourism industry in the Republic of Uzbekistan will be awarded badge for merit and active promotion of tourism. The procedure…
Mankind has witnessed many wars, crises and even pandemics but it has never ever faced anything of the kind and scale of the covid-19 pandemic. It has infected about 15 million people and killed more than 600,000 in the world including about 150,000 in the USA alone. This has brought the world economy to a…
Uzstandard Agency has developed a number of draft guidelines based on the experience of member countries of the International Organization for Standardization (ISO). Manuals are prepared in a standard form and are used voluntarily. They set out recommendations for industrial enterprises on hygiene, infection and prevention, public catering, transport, camping, entertainment, education, business, health, sports…
Chairman of China’s Yabang Investment Holding Group Company Limited Xu Xiaochu said Bangladesh is the most suitable place for investment for global enterprises as it has a large population and huge market potential. “It is the most suitable place for investment for global enterprises, especially for traditional industries. Now it is offering a historic opportunity…
The customs authority has relaxed its rules in regards to the submission of Certificates of Origin (CoO), a declaration of the place of manufacture for any product, for goods imported under the South Asian Free Trade Area (SAFTA) trade pact in the SAARC bloc. The authority said it would accept electronic copies of CoOs for…
Prime Minister Sheikh Hasina on Thursday asked the authorities concerned to work with utmost sincerity to make the country’s investment environment more attractive to further advance the national economy. “We want to take our economy forward and make our investment atmosphere more attractive. So, we’ve to give more attention to this matter and also work…
According to the latest statistics of the World Trade Organization (WTO), Bangladesh’s global clothing export market share has increased to 6.80 percent in the last year which was 6.40 percent in 2018. At the same time, Vietnam’s clothing export share has remained unchanged at 6.20 percent, however, the country has registered an annual growth of…
Commerce ministry is set to establish four specialised technology centres (TCs) in economic zones (EZs) with an eye to boosting export earnings through adopting new technologies. Under a project, it will establish three state-of-the-art TCs at Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram and a specialised design and technology centre at Bangabandhu Hi-Tech City in…
Embassy of Uzbekistan in India organized negotiations between the leadership of Uzbekistan Textile Industry Association and a number of Bangladesh associations in the textile industry, via videoconference. The event was attended by the Advisor to the Chairman of Uzbekistan Textile Industry Association on reforming the textile industry M. Mahbub and heads of leading textile companies…
In the period from January to June 2020, the total volume of utilized foreign investment made up US$4.8 billion, including foreign direct investment – US$3.2 billion and foreign loans under a state guarantee – US$1.6 billion. At the same time, the volume of development of foreign direct investment in fixed assets reached US$2.6 billion with…
Bangladesh Bank has relaxed its policy for the foreign owned and controlled companies, which are operating in the country, allowing banks and non-bank financial institutions (NBFIs) to issue credit to the entities in local currency against foreign guarantees. “Given the ongoing situation due to the Covid-19 pandemic, it has been decided that banks and NBFIs…
It’s not possible to implement all objectives of the national budget, in keeping with all recommendations made by economists, businessmen and other stakeholders. Computing the budget in the light of targeting actual social problems and economic development goals is hardly possible either. Only through transparent management and strategy of the government can genuine efforts be…
Foreign Minister Dr AK Abdul Momen has urged Bangladesh’s envoys in Europe to explore new markets for Bangladeshi products, including RMG as well as the country’s human resources during and after the Covid-19 pandemic. He made the call during a virtual meeting attended by Bangladesh envoys from the UK, Italy, France, Sweden, Belgium, Greece, Spain,…
On 17 July 2020, Deputy Foreign Minister of the Republic of Uzbekistan Sherzod Asadov met with the Secretary General of the Organization for Security and Cooperation in Europe Thomas Greminger and Chairman of the OSCE Permanent Council Igli Hasani in Vienna. During the talks, the sides discussed the current state and prospects for further deepening…
Bangladesh Venture Capital has invested an undisclosed amount of money in the seed round of AALO, a digital mediatech startup. A deal was signed on Monday at the Dhanmondi office of the local alternative investment firm, says a press release. The investor firm’s Acting Managing Director Md Jahir Uddin, Chief Investment Officer Hamidul Haque Khan,…
The Asian Development Bank or ADB has reshuffled the current year’s projects, pushed back a few and included some fresh programmes with the objective of offsetting the impact of the pandemic on life and livelihood in Bangladesh. The changes were made while preparing the country operation business plan for 2021-2023 and updating it for 2020-2022…
The third meeting of joint working commission on trade and economic cooperation between Bangladesh and Uzbekistan is likely to be held here in October aiming to expand trade and commerce, officials said. Commerce minister Tipu Munshi has already given his consent to hold the meeting between the two countries. The commerce ministry has asked the…
The capital market would become vibrant and dynamic in two years with various reform programmes, said Bangladesh Securities and Exchange Commission chairman Shibli Rubayat-Ul-Islam on Saturday. He made the comments at an online seminar titled ‘Capital Market and Covid-19: Charting Impact and Path to Recovery’, organised by the Chittagong Stock Exchange. Shibli said that the…
Easy access to finance for smaller enterprises is required for employment generation and economic recovery during and after the pandemic, experts said on Saturday. They also called for creating a proper database of the labour market situation in the country to formulate time-befitting policies and provide financial and technical support to jobless people to integrate…
The government has expedited the process of replacing more than 70-year-old foreign exchange regulations in order to attract investments while improving the ease of doing business. The foreign exchange policy and operations in Bangladesh are now governed under the provisions of foreign exchange regulations, 1947, which empowered the central bank to regulate the movement of…
The ceremony of signing a Statement of Intent has been held between the Agency for the Development of the Capital Market of the Republic of Uzbekistan, the United Nations Development Programme (UNDP), and the Islamic Development Bank, establishing cooperation for the introduction of Islamic finance in Uzbekistan. The development of this new type of financing…
Tashkent, Uzbekistan (UzDaily.com) — The growth of the gross domestic product (GDP) of Uzbekistan made up 0.2% in January-June 2020 versus 6% in the same period of 2019. The State Statistics Committee of Uzbekistan reported. Industrial production in Uzbekistan decreased by 1.9% in January-June 2020 against 4.8% in the first half of 2019. The growth rates…
By the end of 2021, an estimated 33 million people will loss their jobs owing to the fallout of Covid-19, while five emerging sectors will generate 40 lakh new jobs. Access to Information (a2i) – the flagship programme of the Digital Bangladesh agenda – revealed this while sharing the findings of their research titled…
Business is shrinking all over the world due to COVID-19 pandemic. People now merely go for physical shopping. Many reports have stated that currently, people are more inclined to online shopping. Here B2B platforms like Alibaba can play a vital role for Bangladesh and businesses can grow further if entrepreneurs think and act dynamically. On…
The government has appointed Md Zahangir Alam, currently serving as additional secretary of the Legal Affairs Wing of the Ministry of Foreign Affairs, as the next ambassador of Bangladesh to the Republic of Uzbekistan. Ambassador-designate Zahangir belongs to 1986 batch of Bangladesh Civil Service (BCS) Administration cadre. In his career, he served in various capacities…
As the major brands and retailers in the EU and US are reopening, work order inflow are on the rise in the local apparel factories, though on a limited scale. As per the factory owners, most of the factories are running with 80 percent capacity as work orders are coming gradually. However, the volume of…
One has got to feel for the garment workers. Despite the availability of low-cost loans to pay wages, repeated requests from the labour ministry and a recent uptick in work orders from international buyers, they are getting the chop. “So far, more than 25,000 workers have been fired although we have been suggesting the factory…
The ready-made garment (RMG) industry in Bangladesh is the home of the second-largest apparel seller in the world. RMG is the primary export-oriented industrial sector of Bangladesh and it looks forward to becoming the prime industry in the years to come, as the export statistics suggest. This year amid the Corona outbreak, amongst the total…
Bangladesh and Uzbekistan have agreed to form Joint Working Group (JWG) to boost bilateral trade and investment through removing different barriers. Commerce Minister Tipu Munshi gave the information on Tuesday at a view exchange meeting with Uzbekistan’s Deputy Prime Minister and Investment and Foreign Trade Minister Sardor Umurzakov through a videoconference from the secretariat in…
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have sought the government’s support to mobilise a fund for the well being of the 4.4 million RMG workers in the upcoming budget.In a letter written by the BGMEA president Rubana Haq, a special fund was sought to Finance Minister AHNM Mostafa Kamal to allocate a fund in…
Exports grew 2.69 percent year-on-year to $3.03 billion in April riding mainly on the higher shipment of apparel items. Last month’s receipts, however, fell short of the government’s monthly target of $3.08 billion by 1.52 percent. The overall export of merchandise from Bangladesh also showed a positive trend between July and April, the first 10…
Bangladesh is the 2nd largest Ready Made Garments (RMG) exporter in the world after China. About 83% of its export earnings are coming from RMG. Textile and Apparel sector’s, the lifeline of the economy, has contributed Tk 2, 513,471 million or 11.16% of Bangladesh GDP. About 20 million people are directly associated with the industry.…
https://www.youtube.com/watch?v=JpLDaMu_sxQ
On March 1, 2019 at 18:30, at the GroundZero Technoplasma, was held a workshop on textile industry with the participation of well-known Bangladeshi expert. The seminar was conducted by the CEO of Best Sourcing, President of Bangladesh RMG Center Mr. Mehdi Mahbub. During this seminar, the participants are discuss the development of textile and clothing…
Bangladesh is full of natural beauty. Rivers, coasts and beaches, archaeological sites, religious places, hills, forests, waterfalls, tea gardens surround it. The Sundarban, Historic Mosque in city of Bagerhat, Ruins of the Buddihist Vihara at Paharpur are the three world heritage sites in Bangladesh among 1007. To observe the beauty of nature, huge amount of…
The textile and clothing industries provide the single source of growth in Bangladesh’s rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh’s total merchandise exports. In 1972, the World Bank approximated the gross…
Bangladesh is known across the world by its readymade garments (RMG). It’s like Hollywood signifies global movie industry, Nepal symbolizes the Himalayas, Egypt connotes the pyramids. Though these locations do have other landmarks, the countries are still overwhelmingly identified with such major attractions. Bangladesh and its RMG have now become synonymous. The country does have…