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Finance

Gazipur RMG fire injures 40

At least 40 people were injured in a fire at a readymade garment factory in Konabari under Sadar upazila of the district on Wednesday morning. The fire originated at about 10:45am at the 7th and 8th and floors and soon engulfed other floors while reason of the fire remained unknown. Witnesses said that the workers became injured when they were ... Read More »

Capital market stabilising: Muhith

Finance Minister Abul Maal Abdul Muhith has claimed the instability at the capital market has somewhat decreased in the recent times, and will lessen further following demutualisation of the two bourses. He was speaking at the inauguration ceremony of the International Plastics, Industry Exhibition at the Bangabandhu International Convention Centre on Wednesday. In October, the cabinet approved a draft Demutualisation ... Read More »

Thai fisheries seek Bangladesh workers

The Bangkok Post quoted National Fisheries Association of Thailand President Phubet Chanthanimi as saying that they hoped to bring in about 50,000 workers from Bangladesh through a government-to-government deal. He warned that the labour shortage could bring the whole industry to a halt. In a report published on Tuesday, the newspaper said the Association even proposed that Rohingya people smuggled ... Read More »

Dreamliner crisis: Boeing halts 787 jet delivery

Boeing has suspended deliveries of its new 787 Dreamliner aircraft until a battery problem is resolved. An email from the US aerospace giant said it would continue to build the plane, but not deliver any until US safety officials gave their backing. The Federal Aviation Administration has joined the Dreamliner investigation. All 50 of Boeing`s 787s have been suspended from ... Read More »

Chevron product vessel probe

Chittagong Port Authority has formed a five-member panel to investigate into the unloading of a lightering vessel, laden with Chevron products, at the port without clearance. The port’s sub-keeper Captain Nazmul Haque has been made head of the panel. The lightering vehicle has been kept under watch of the Bangladesh Coast Guard at jetty number 15. The Secretary of the ... Read More »

Zaheer new WB acting country director

Salman Zaheer, cooperation director of the World Bank`s (WB) South Asian Region, has been made new acting country director to Bangladesh. The disclosure came from a WB press release on Saturday. Zaheer, an India citizen, will take up his new assignment from February 1 and continue till the appointment of the next Country Director, due this year. Read More »

BB steps to stop money laundering: Deals inked with 13 countries

Bangladesh Bank (BB) singed bilateral deal with 13 countries to stop money laundering, terrorists financing and to take back the laundered money. A source in BB said that BB inked the deals with the countries in different times in last five years and Bangladesh can know all information in these regard. Bangladesh couldn’t be member of Egmont Group of Financial ... Read More »

JICA to disburse Tk 450 cr SME credits

Staff Reporter Japan International Cooperation Agency (JICA) on Sunday said that it would disburse an amount of Tk 450 crore its under Financial Sector Project for the Development of SME (FSPDSME) among local level entrepreneurs of Bangladesh. The JICA announcement came to local entrepreneurs at the launching of “Business Edge Training Program” for the Small and Medium Sized Entrepreneurs by ... Read More »

Directors’ recruitment in state-run banks: Process not transparent: CPD

Distinguished Fellow of Center for Policy Dialogue (CPD) economist Debapriya Bhattacharya termed the process of directors’ appointment to state-run banks ‘not transparent’. “The director-recruitment is not transparent, rather they are being recruited basically upon political decision, he added. Debapriya Bhattacharya said, “It is not clear at all who is recruiting them, Finance Ministry or Prime Minister’s office. As a result ... Read More »

Global malaria battle stalls for fund crunch

Reuters via Yahoo Health Global funding for the fight against malaria has stalled in the past two years, threatening to reverse what the World Health Organisation (WHO) says are “remarkable recent gains” in the battle to control one of the world’s leading infectious killers. After rapid expansion between 2004 and 2009, funding for malaria prevention and control leveled off between ... Read More »

Bridge fund on fair probe: WB, Muhith surprised

Agency The WB Dhaka office on Saturday issued a statement saying the bank will proceed with support for the Padma Bridge only if the Anti-corruption Commission (ACC) launches a full and fair investigation based on evidence of corruption under the project. Read More »

‘Please panel for Padma fund’

A South Asia Director of Japan International Cooperation Agency (JICA) on Monday said the World Bank’s return to Padma bridge project depended on its external panel’s ‘satisfaction’. “If the external panel is not satisfied, the World Bank will not be satisfied. If they are not satisfied, they will not come back,” Tomohide Ichiguchi, who oversees JICA affairs in Bangladesh and ... Read More »

‘Abul Hasan recommended, not me’

Former Communications Minister Syed Abul Hossain has admitted of receiving recommendation from former State Minister for Foreign Affairs Abul Hasan Chowdhury to appoint Canadian firm SNC Lavalin as Padma bridge project consultant. But he claimed that he did not put any pressure on the committee formed to pick the consultancy firm. Hossain, however, on Monday again protested his innocence after ... Read More »

Japan pledges $2.1 bln for metro rail

Japan has made about $ 2.1 billion aid commitment for the Mass Rapid Transit Development (MRT) project aimed at easing the Dhaka’s nagging traffic gridlock. “The total cost of the project is $2.7 billion and Japan will provide us $2.1 billion,” Finance Minister AMA Muhtih said at a press briefing after meeting with Japanese Ambassador Shiro Sadoshima at his office ... Read More »