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CPD denounces govt stance on banking sector

The Centre for Policy Dialogue yesterday came down hard on the government for recapitalising the state banks despite their financial malpractices, and rescheduling the bad loans of Beximco Group. The think-tank went on to term the recapitalisation, which is being done with taxpayers’ money, as ‘nationalisation of losses’ and the rescheduling ‘denationalisation of profits’. This is not a good sign for the economy and the banking sector, Mustafizur Rahman, executive director of CPD, said at the unveiling of a report on the economic performance so far this fiscal year. CPD1

Panama Ambassador to Korea visits IMA Gazipur campus

Ruben Eloy Arosemena Valdes, the Panama Ambassador to Korea Republic accompanied with his spouse Ana Lorena on Friday visited the International Maritime Academy (IMA) at Gazipur. Commandant of the Academy received the ambassador while a guard of honour was accorded to the ambassador by the senior cadets of the Academy. The ambassador visited the facilities of the campus including the newly commissioned fire-fighting complex with the smoke chamber for simulating advanced fire fighting techniques. ima gazipurChairman of the Academy Emd...

Dollar appreciates against Taka    

The last week of the year observed some appreciation of greenback against Taka. USD/BDT traded around Tk 77.95 levels in the last days of the week. Foreign exchange reserve was $22.30 billion on the last day of the week. dollarMarket experts foresee a stable tone in USD/BDT exchange at the beginning of New Year. Market will receive higher amount of wage earners remittance along with conversions from RMG sector which might ease off the pressure on greenback. The average daily inter-bank USD/BDT transaction volume was about $20.91 million against around...

Auction of Islami Investment Bonds starts

The government has started issuing auction-based Islami Investment Bonds on Thursday, the first working day of the calendar year 2015, to create a new window for investment by the Islamic banks and financial institutions. islamic bondSix bids, amounting to Tk 885 million, were offered by six Shariah-based Islami banks for three-month Bangladesh Government Islami Investment Bond (BGIIB). Besides, seven bids, amounting to Tk 936 million, were offered by six Islami banks and an Islamic non-banking financial institution (NBFI) for six-month BGII...

India, Bangladesh to sign oceanic research MoU in EEZs

India and Bangladesh will sign an MoU within the next two months which will give them the right to conduct oceanic research in each other’s Exclusive Economic Zones (EEZs). bd-indiaNational Institute of Oceanography (NIO) Director Dr S W A Naqvi said the political atmosphere is just right to launch a major programme of this kind as he announced this. “Many countries in this region do not have the infrastructure and human resources to carry out research on their own. So they have been looking at India to provide the lead. We are now launching major pro...

US expands items from child labor, includes Bangladesh

The Labor Department of USA last week expanded its list of products worldwide it says were likely produced by child or forced labor, ranging from garments from Bangladesh and electronics from Malaysia to cotton and sugar cane from India. “There’s a story behind each item on these lists — a child facing back-breaking labor without education or other opportunities for a child labourbetter life or an adult trapped in a dismal job through deceit or threats,” Labor Secretary Thomas E. Perez said in a statement. “These lists raise awareness...
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