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June 2015

US economy scored robust growth in 4th quarter

The US economy grew at a robust annual rate of 3.2 percent in the fourth quarter despite the partial government shutdown in October, according to Commerce Department data released yesterday. Growth in gross domestic product was led by pick-up in exports and a strong acceleration in consumer spending, the main driver of the US economy. Most analysts had penciled in 3.0 percent GDP growth in the October- December quarter, following the 4.1 percent pace in the third quarter. us-flag---0

Deport Justin Bieber: Thousands vote!

That’s the logic behind a petition — which at the time of writing had racked up more than 194,441 signatures — urging the Obama administration to revoke the Biebs’ green card and send him back to his native Canada. justin-bieber-300 Many Americans are fed up with the singer’s reckless “bad boy” ways that culminated last week in an arrest for driving under the influence and drag racing. And since he’s not an American...

Forex reserve still above 18bn

The country’s foreign exchange reserve is still maintaining an over 18-billion mark remaining at $18,160.61 million as of January 28 this year. The foreign currency reserve also witnessed a rise of $5,117.94 million from the $13,042.67 million registered on January 28 last year, according to statistics released by the Bangladesh Bank on Thursday. remmitance Earlier, on December 19, 2013, Bangladesh’s foreign currency reserves crossed the $18-billion mark for the first time in the country’s history...

Banking system liquidity worries FBCCI

  The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) expressed its concern over the banking system liquidity generating from inertia of the businesses to invest in productive sectors. “Although the target for the growth in private sector credit flow was fixed at 15.5 percent from July-December in 2013, the credit flow at that period was not that satisfactory due to the absence of proper infrastructure as well as business friendly environment caused by political uncertainty,” the apex trade body said in a statement on Thursday. FBCCI

Traders buy 150,000t wheat from Indian

Three traders in Bangladesh have bought 150,000 tonnes of wheat from neighbouring India at prices ranging from $302 to $305 a tonne, including cost of delivery to Chittagong port, two sources said on Wednesday. wheatBangladesh has turned to India for wheat supplies since New Delhi lifted a ban on exports in 2011. Separately, Bangladesh's state grains buyer has received the lowest offer from Glencore of $303 a tonne, including freight, insurance and other expenses, in a tender that opened on Tuesday. Bangladeshi tr...

IBBL provides ATM service at DITF

Islami Bank Bangladesh Ltd (IBBL) has been providing ATM service at Dhaka International Trade Fair (DITF). Customers of the banks are using the ATM booth installed at IBBL pavilion for withdrawing and depositing money at DITF premises. DSC_0023Sells of goods has been increased following the rush of people at the last few days of the fair. Clients of Islami Bank are withdrawing money from the booth for buying their desired products. A good number of local people and foreigners are seen withdrawing mon...