Browse Category

Economy

BB revises forex quota for businessmen

Bangladesh Bank (BB) on Monday revised up the foreign exchange quota for businessmen.  The central bank in a circular said exporters, importers and producers for the local market would be entitled to foreign exchange quota for travel abroad at $400 per diem, subject to limits of $4,000 per trip and $10,000 over a calendar year. bbBesides, exporters will also be entitled to use balances in their foreign currency retention quota account for their business visits abroad. Top two tiers senior level expatriate foreign nationals ...

Exports up 6pc in Feb on garment sales

Bangladesh's exports rose 6.36 percent in February from a year earlier to $2.39 billion, boosted by stronger garment sales, the Export Promotion Bureau said on Monday, as political turmoil eased after an election in January. In the first eight months of the financial year beginning July 1, exports totalled $19.83 billion, up nearly 14 percent from the same period a year ago, the export bureau said. rmgGarment exports rose 9 percent on year to $1.96 billion in February and were up 16.7 percent to $16.7 billion for the eight months. Garmen...

Trade gap narrows in July-Jan on poor import growth

The country’s trade deficit narrowed by 35.01 per cent in the first seven months of the current financial year compared with that of the same period of the FY 2012-13 due to a rise in exports against a poor growth in imports. According to the latest BB data, the deficit decreased to $2.78 billion in July-January of the FY14 from $4.28 billion in the same period of the FY13. bbExperts and BB officials said that the narrowed trade gap would not put much positive impact on the country’s macro-economic situation as the imports ...

Tk 10 bank account now for street children

After introducing various types of banking services for farmers, sharecroppers and some other underprivileged people, Bangladesh Bank (BB) has now extended its generous initiatives to bring street urchins and child workers under institutional financial support. The central bank on Sunday directed all banks to allow street children and child workers open bank accounts by depositing Taka 10 only, which the banks are now offering to the farmers and others who cannot afford normal banking services. street-children

American Apparel stirs up controversy…again

American Apparel—the controversial retailer known for its outspoken CEO and its provocative advertisements—has unveiled its latest campaign. The ad features a topless model of South Asian descent, with the words ‘MADE IN BANGLADESH’ boldly printed across her chest and a detailed account of her background. “[Maks] is a merchandiser who has been with American Apparel since 2010. Born in Dhaka, the capitol of Bangladesh, Maks vividly remembers attending mosque as a child alongside her conservative Muslim parents. At age four, her family made a life changing move to Marina Del Rey, California. Although she suddenly found herself a world away from Dhaka, she continued following her parent’s religious traditions and sustained her Is...

Another Indian proposal to open direct sea routes

India has asked Bangladesh to open direct sea routes between the two countries to boost bilateral trade, which is being hampered by congestion at the land customs stations on both sides. India aims to increase cargo to Bangladesh. According to sources, the Department of Commerce has asked Directorate General of Shipping to work out a mechanism on how the plan could work out. To initiate the process, ships have to be certified by both the sides so that they can operate in each other’s territorial waters, a senior commerce department official told Business Standard. “We have asked DG Shipping to work out a protocol with Bangladesh on our regulatory requirements. We have to certify their ships and they will have to do the same...
Verified by MonsterInsights