The government has announced to create “special economic zone” (SEZ) for the Indian investors as the bilateral relations between the two countries have improved remarkably, a diplomat said. “Bilateral relations between India and Bangladesh have improved a lot.
The neighbouring country has announced to create special economic zone for the Indian investors,” Indian deputy high commissioner in Dhaka, Sandip Chakraborty told reporters last night. Chakraborty came to Agartala for a four-day visit on Monday through Akhaura border to review the progress of different projects of connectivity between the two countries through Bangladesh and transmission of 100 MW power from the 726 MW Palatana power project in South Tripura district. Tripura has 856km long border with Bangladesh which constit...
The government aims to near double exports to US$50 billion by 2018 as it frames new export policy, betting on the markets of three Asian economic giants, trade officials said.
Commerce ministry officials said Japan, India, and China will emerge as vibrant exports destinations in the coming years and the diversification will help achieve the target.
The officials said the draft Export Policy 2015-18 has the provision of offering incentives to help broaden markets and products base to reach the target.
The ambitious...
The inter-bank call money rate hit 9.50 per cent Thursday, the last working day before the Eid-ul-Azha, because of higher withdrawal of cash from the banks, treasury officials said.
The call rate ranged between 6.00 per cent and 9.50 per cent on the day against the previous range between 6.00 per cent and 9.25 per cent.
However, most of the deals were settled at rates varying between 8.50 per cent and 9.50 per cent, the market operators said, Financial Express reports.
The weighted average rate of the call money rose to 8.78 per cent Thursday from 8.52 per cent of the previous working day, according to the Bangladesh Bank (BB) statistics.
The country received $ 1.319 billion in remittance during the month of September this year, up from $1.174 billion than in August 2014.
According to data provided by the Bangladesh Bank, the country received the remittance through banking channels from the Bangladeshi expatriates living abroad.
With the September’s amount, the country’s total remittance earning till September 30 reached $3.985 billion in the first quarter of the current fiscal year fiscal year 2014-15. The total remittance in fiscal 2013-14 was $14.228 billion...
The Bangladesh authorities have made significant progress in consolidating macroeconomic stability under the ECF-supported program, said International Monetary Fund (IMF) in a press statement. It said, despite a moderation in exports, foreign exchange reserves have continued to increase and have reached adequate levels, inflation has declined, the fiscal deficit is contained and public debt is on a downward path. With a calmer political environment economic activity is gaining momentum, and real GDP growth is expected at about 6¼ percent in fiscal year (FY)15 (July 2014-June 2015), supported by strong domestic demand. There has also been progress on structural reforms. However, the introduction of a new value added tax (VAT), a key government reform to boost fiscal space for development...
Normal reasoning suggests capital machinery imports would plummet when a country is in the thick of political turmoil and shoot up when normalcy returns. That logic is found flapping when it comes to Bangladesh.
In the first month of the current fiscal year, letters of credit settlement, which give an indication of the amount of imports, for capital machinery and industrial raw materials fell in comparison to a year ago.
LC openings, which signify the import orders being placed, too saw a decline.
In July, LC settlement for capital machinery sli...
