Indian co to explore in Bay of Bengal
ONGC Videsh Ltd (OVL) and its partner Oil India Ltd (OIL) have signed contracts to explore for oil and gas in two areas in Bangladeshi waters.
An equal joint venture of OVL, the overseas arm of state owned Oil and Natural Gas Corp (ONGC), and OIL on Monday signed production sharing contracts (PSC) for shallow water blocks SS-04 and SS-09 in Bangladesh.
“OVL along with OIL formed a consortium (50:50) and participated in the Bangladesh Offshore Bidding Round 2012, launched by Bangladesh Government during December 2012,” the company said in a statement.
Classified loans to fall soon: Atiur
Banks’ nonperforming loans will soon come down to a tolerable level due to relaxed policies, said Bangladesh Bank Governor Atiur Rahman.
On average, the banking sector’s NPL rose to 12.79 percent of the total loans at the end of September 2013, but the figures of December last year would be at a tolerable level, he said.
The governor was speaking at a conference of general managers of the central bank at its office in the capital on Sunday, reports the Daily Star.
In Sep...
The governor was speaking at a conference of general managers of the central bank at its office in the capital on Sunday, reports the Daily Star.
In Sep...
Exports rise 7.8pc on garment sales in Jan
The country’s exports rose 7.8 percent in January from a year earlier to $2.75 billion, boosted by clothing sales, the Export Promotion Bureau said on Sunday, despite months of election-related violence that disrupted transport and prompted global retailers to curb orders.
Bangladesh's $22 billion garment industry had seen orders cut nearly in half in the three months to December as political unrest in the months leading up to a Jan. 5 election hit the country, according to the Bangladesh Garment Manufacturers & Exporters Association.
Steps against money laundering under review
Bangladesh is expected to come out of the Financial Action Task Force’s (FATF) grey list today, meaning there would be a great reduction in the costs and time line of financial transactions with the rest of the world.
“We are very hopeful as we have fulfilled all conditions for being excluded from the list,” said M Mahfuzur Rahman, executive director of Bangladesh Bank, reports The Daily Star.
In October 2010, the FATF gave Bangladesh time-bound 28 action items needed t...
In October 2010, the FATF gave Bangladesh time-bound 28 action items needed t...
BB governor for gender-sensitive, dev-friendly national budget
Bangladesh Bank governor Dr Atiur Rahman on Wednesday stressed the need for formulating a gender-sensitive, and environment -and development-friendly national budget.
“A budget is very important for our nation, family and personal life. The national budget should be gender-sensitive, and environment -and development-friendly which we saw in recent years,” he said.
The central bank governor made the remarks while addressing the inaugural session of the Centre on Budget and Policy, a newly estab...
The central bank governor made the remarks while addressing the inaugural session of the Centre on Budget and Policy, a newly estab...
Export orders at 13th DITF decline by 50pc
Export orders at the 13th Dhaka International Trade Fair (DITF) 2014 declined by nearly 50 per cent mainly due to fewer presence of foreign buyers after a prolonged political turmoil, fair organisers said.
Participants at the DITF received only Tk 804 million worth export orders this year against Tk 1.57 billion last year.
However, speakers at the concluding ceremony of the fair Monday expressed their hope that gradual improvement of political situation would help boost export of local products along with foreign direct investment in the country, reports the Financial Express.
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