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Deep-sea port deal: Govt prefers China-led consortium  

At least five local and regional factors played a decisive role why Bangladesh changed its stand on signing the Sonadia deep-sea port agreement at the last minute before prime minister Sheikh Hasina set off for China last week. As a number of countries, including United Arab Emirate, India and Germany were vying to secure the multi-billion dollar contract for the deep-sea port, Dhaka opted for a consortium financing model led by China to accommodate others to construct the mega infrastructure, sources involved in the process said. china BDHasina’s sc...

Bangladesh allows transit of foodgrain to northeast India

In a highly significant move that was evidently cleared at the highest level, Bangladesh is allowing India to ferry foodgrain to the landlocked northeastern states using its territory and infrastructure. "To begin with, the Bangladesh government has under a special transit facility agreed to transport 10,000 tonnes of foodgrain for Tripura via its territory," Tripura's Principal Secretary (Food, Civil Supplies and Consumer Affairs) B.K. Roy told IANS. "After getting a green signal from the Bangladesh government, the FCI (Food Corporation of India) initiated the process of transporting foodgrain and essentials using the Ashuganj river port (in eastern Bangladesh) and the roadways connected to the northeastern states."

Tea prices up as demand offsets supply

Tea prices in Bangladesh rose at a weekly auction on Tuesday as higher supplies were offset by strong demand from local buyers, brokers said. Bangladeshi tea fetched an average of 176.09 taka ($2.3) per kg at the auction against 174.76 taka at the previous sales, an official at National Brokers Limited said. Major buyers were back at the market on arrival of fresh leaf as the new season started on May 14, the official said. Around 1.5 million kg was offered at the sole auction centre in Chittagong, and nearly 29 percent remained unsold. At the previous auction, nearly 1.3 million kg was offered, of which 29 percent went unsold.

Imports surge over 14 pct to $ 30 bln   

Bangladesh’s imports surged 14.24 percent to over 30 billion U.S. dollars in the first 10 months of the current 2013-14 fiscal year ending this month, a central bank official said recently. The Bangladesh Bank (BB) official said the settlement of letters of credit (LCs), generally known as actual imports, stood at 30,593.74 million U.S. dollars in July-April compared to 26,780. 77 million in the same period a year earlier. Import orders, officially known as fresh opening of import LCs, also increased by 11.65 percent in the first 10 months of the current fiscal year (July 2013-June 2014), he said quoting provisional BB data.

US assures continued support to RMG

The United States has assured continued support for further development of Bangladesh’s RMG sector and acknowledged the progress already made in the areas of labour rights and factory safety. The assurance came during Commerce Minister Tofail Ahmed’s meetings with the US officials in Washington on Wednesday, according to Bangladesh Embassy in Washington. SAMSUNG CAMERA PICTURESTofail Ahmed held separate meetings with US Trade Representative Michael Froman, Congressman Sandy Levin, high officials from the Department of State as well as Department of L...

AMTOB urges elimination of tax on SIM

Association of Mobile Telecom Operators of Bangladesh (AMTOB) organized a press briefing urging the government for elimination of SIM tax and SIM replacement tax and other concerns. AMTOB Press Conference - Low ResRepresentatives of Mobile Network Operators (MNOs) (from left) Nishat Ali Khan, DGM, Corporate Affairs, Pacific Telecom Bangladesh Ltd. (Citycell), Ishtiaq Hussen Chowdhury, Director, Stakeholder Relations of Grameenphone Ltd., Ashraful H. Chowdhury, Chief Regulatory Affairs Officer of Airt...
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