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US taxpayers fund health studies in Bangladesh

US taxpayers are funding millions of dollars in grants to study health in faraway places such as Bangladesh and Zimbabwe, as well as the health effects of cook stoves, commonly used in places such as Central America and India, National Institutes of Health grants show. At the University of Colorado, professor Jane A. Menken has received more than $3.1 million bd-us-flag1since 2010 to study the “Long-term effects of health and development interactions in rural Bangladesh,” NIH records show. “Maternal and child health and family planning are esse...

Lankan Laugfs acquires 69pc of BD LPG plant

Sri Lanka’s Laugfs Gas plc acquired 1.8 million ordinary shares, or 69 percent of the total issued shares, in Petredec Elpiji Limited, a company incorporated in Bangladesh for a purchase consideration of 18.75 million US dollars. “We see tremendous potential for expanding LPG as a domestic and commercial energy source in Bangladesh,” W.K.H. Wegapitiya, the Group Chairman of LAUGFS said. Petredec Elpiji Limited is engaged in downstreaming business of liquefied petroleum gas (LPG) LPGin Bangladesh as the third largest LPG downstreaming operator, with over 21 pe...

Offshore Taka bond program, IFC to strength capital markets

IFC, a member of the World Bank Group, announced on October 11 that it has received an approval from Bangladesh’s Ministry of Finance for the first ever offshore Taka bond program. The $1 billion-equivalent bond program aims to strengthen capital markets and increase foreign investment in Bangladesh. Under the program, IFC will issue the first Taka-linked bonds in the offshore market and bring IFCthe proceeds back to finance investment in Bangladesh. The bonds will be listed on the London Stock Exchange, according to IFC. “Domestic capital markets are critica...

AML guidelines for co-operative societies

Bangladesh Bank (BB) has issued an anti-money laundering (AML) guidelines for co-operative societies to help combat money laundering and terror financing. Issuing the guidelines on October 7, the central bank asked all the co-operative societies to follow it accordingly to keep their activities and services protected from the risks of money laundering and terror financing. bangladesh_bankThe guidelines suggested all the co-operative societies to set up a central compliance unit or contact point under the direct supervision of the head o...

No loans for packaging sans using jute sacks

Producers and traders of six essential goods will not get loans from bank if they fail to use jute sacks as directed by the government, Bangladesh Bank (BB) said today. The central bank in a circular said before approving fresh loan or renew the existing ones all bbbanks should make sure that their clients who produce or trade paddy, rice, sugar, wheat, maze and fertilizers use jute sacks for packaging. BB said that the directive was issued in-line with the government's decision of making use of jute sacks and bags mandatory to package paddy, rice, sugar, wheat...

Alison Blake to succeed Robert Gibson

The United Kingdom on Monday announced Alison Blake as the next British High Commissioner to the People’s Republic of Bangladesh in succession to Robert W Gibson. “Blake will take up her appointment in January 2016 as Robert W Gibson will be transferring to Allisonanother Diplomatic Service appointment,” the Foreign and Commonwealth Office (FCO) of the United Kingdom said this in its website. According to the FCO website, Alison is a native Londoner, with a keen interest in ancient and modern history, which she studied at Oxford University. After c...
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