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DTI, JTI sign MoU

A Memorandum of Understanding (MoU) signing ceremony between Dhaka Tobacco Industries (DTI) and Japan Tobacco International (JTI) was held at Utshab Hall of the Radisson Blu Water Garden Hotel in Dhaka, Bangladesh. 02The MoU reaffirms the commitment of DTI and JTI in terms of bilateral knowledge and information sharing as well as technology research and development for the future. Mr. Sheikh Nasir Uddin, Chairman of Akij Group on behalf of DTI, and Mr. Adonis Fineza, Country Manager, Bangladesh on behalf of JTI signed the MoU. Mr. Sk. Bashir Uddin, Ma...

What the future holds for ‘third arm’ of WB

World Bank President Jim Yong Kim’s shake-up of the World Bank’s organizational structure has elicited a wide range of emotions: hope, fear, confusion, doubt, optimism, inspiration. wbBudget cuts, projected staff layoffs and the introduction of 14 new “Global Practices” had many inside and outside the institution expressing concern about the fate of bank-led development initiatives, which they feared might be sidelined or diminished as a new structure took hold. Eight months after the most significant reforms took effect, bank staffers and development p...

BB buys $475m from banks

The central bank has expedited purchase of US dollars from commercial banks this month to protect the interests of both exporters and migrant workers by keeping the exchange rate of Bangladesh Taka (BDT) against the greenback stable. bbAs part of the move, the Bangladesh Bank (BB) bought US$475 million directly from the banks during the first 16 days of the current month aiming to keep the inter-bank foreign exchange (forex) market stable, reports the Financial Express (FE). “The supply side of the foreign currency has improved during the period under review due t...

India worried about Ganga barrage project

According to Water Resources Minister Anisul Islam Mahmud, India is concerned about the Ganga barrage mega project. They are worried because the water might back backflow and siltation. “Now we are trying to address the problems and we can easily resolve it,” he said at a workshop on Multi-Stakeholder Engagement on Water Resources Management in Bangladesh at a city hotel on Wednesday. gangaThe programme was organised by Water Resources Planning Organistaion and 2030 Water Resources Group of the International Finance Corporation (IFC). The ...

IMF welcomes announcement of new VAT

International Monetary Fund (IMF) mission led by Rodrigo Cubero said during a meeting in Dhaka that IMF welcomes the Bangladesh’s strong commitment to launching the new value-added tax (VAT) in July 2016. imf 2Cubero said that Bangladesh’s new value-added tax (VAT) will increase revenue while reducing costs for businesses. Rodrigo Cubero, visited Dhaka from February 25 to March 10 to conduct discussions on the fifth and sixth reviews under a three-year Extended Credit Facility (ECF) arrangement. He pointed out that VAT will significantly broa...

UK Bangladeshis at higher risk of poverty: Report

British people of Pakistani and Bangladeshi origin are around three times more likely to be in poverty compared to their white counterparts while people of Indian descent have largely closed that gap, according to new research by Oxford University. [caption id="attachment_14001" align="alignleft" width="300"]Bangladeshi Women working in UK--1 Bangladeshi women working department stores in UK. Photo taken from BBC[/caption] The report by the Centre for Social Investigation (CSI) at Nuffield College at...
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