Forex reserves hit record high in April
Bangladesh’s foreign exchange reserves reached a record high $20.37 billion at the end of April, more than 37 percent higher than a year earlier, the central bank said on Sunday.
The higher reserves, which stem from a widening current-account surplus, can to cover more than six months of imports.
At the end of April 2013, reserves were $14.83 billion. The total last month was $1.06 billion above the March 2014 level.
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BB governor reaffirms promoting women entrepreneurship
Reaffirming Bangladesh Bank’s (BB) commitment to promoting women entrepreneurship, bank governor Dr Atiur Rahman said, banks and non-bank financial institutions (NBFIs) have been asked for prioritization of women entrepreneurs in providing financial services.
“Promoting women entrepreneurship is one of our key policy interventions . . . half of our population is women and unless we engage them in activities where they have competitive edge over others we will be losing national output by under utilizing their skills, creative and innovative ideas,” said the governor while speaking at a seminar here, reports BSS.
GDP to be lower than 6pc
Experts blamed political unrest and uncertainty surrounding elections held in January for economic slowdown in Bangladesh.
As predicted by International Monetary Fund (IMF), Gross Domestic Product (GDP) of Bangladesh this year is to be a little over five percent, lower than the six percent GDP last year.
Apart from the political instability, investment stagnation and reduced remittance inflows are also quoted as major cause of slowdown. As per Bangladesh Bank, remittance flow has di...
Apart from the political instability, investment stagnation and reduced remittance inflows are also quoted as major cause of slowdown. As per Bangladesh Bank, remittance flow has di...
Compliance not possible without factory relocation
Stating that ensuring the compliance is not possible without the relocation of poorly-equipped factories, business leaders at a meeting here on Wednesday suggested the government set up an industrial zone with all utility services either near Chittagong or Dhaka for shifting the RMG factories.
“Many of our garment factories are now facing difficulties in ensuring compliance. It’s not possible to ensure that in all factories with the existing infrastructures. The government can set up an industrial zone either near Chittagong or Dhaka where there are gas, power and other facilities to relocate the factories so that they can ensure the compliance,” said former FBCCI president Anisul Haq.
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External trade openness crucial for growth: Atiur
Bangladesh Bank governor Dr. Atiur Rahman on Tuesday underlined the need for openness for growth in the regional and global trade.
He was speaking at the inaugural session of “the SAARCFINANCE seminar on Management of external sector openness-South Asian country experiences”.
Atiur said external trade openness frees up efficient domestic producers from demand limitations of the local markets.
SAARCFINANCE Cell and Bangladesh Bank jointly organised the seminar with Abu Hena Mohd Razee Hassan in the chair, reports UNB.
The sem...
The sem...
