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Economy

GSP facility to US market by April, hopes Tofail

Bangladesh will regain the GSP facility to the US market by next April, Commerce Minister Tofail Ahmed on Sunday hoped. He said, the government is working sincerely to fulfill the conditions tagged for regaining it. “We are working sincerely to fulfill the conditions so that GSP facility could be regained in the US market. I hope, the GSP facility is likely to be resumed by April this year,” he told a meeting with a DCCI delegation. Bangladesh-rmg-worker The board of directo...

FDI declines 92pc in last three months

The country’s total Foreign Direct Investment (FDI) has declined to $100m during the October-to-December period while Last year, the figure was $1.25bn. The FDI dropped 92% in the final three months of last year from one year ago, apparently due to political unrest. Board of Investment (BoI) data showed a total of $100m came in the country as FDI during the October-to-December period. foreign aidA Russian telecom company won Wimax licence in Bangladesh and was set to invest $2bn. But the politi...

GDP to slow down to 5.8pc: CPD

The country’s economic growth in the current fiscal may slow down to 5.8 or even to 5.6 percent from above 6 percent for the last four fiscals, predicted Centre for Policy Dialogue (CPD) on Saturday. The Gross Domestic Product (GDP) growth is likely to remain between 5.6 percent and 5.8 percent provided that the second half of the current fiscal does not go through any major political uncertainty, noted CPD executive director Mustafizur Rahman at a programme at its office. BD GDPSpeaking at the launching ...

Employment slows down as investments sluggish

Employment in the formal sector has slowed down considerably in the past one year because of sluggish private and public investments against the backdrop of prolonged political unrest over the holding of the general elections. ‘It is obvious that the unemployment rate has increased,’ said former caretaker government adviser Mirza Azizul Islam. One cannot expect an increase in employment without new investments, he said, adding that the main reason for the growing unemployment was the lacklustre private investments. No-Vacancy

Bangladesh intends to buy cotton from Kyrgyzstan

Bangladesh has intended to buy cotton from Kyrgyzstan, Mosud Mannan, Extraordinary and Plenipotentiary Ambassador of Bangladesh to Kyrgyzstan with residence in Tashkent, said while presenting his credentials to the President of the Kyrgyz Republic Almazbek Atambayev. “Kyrgyzstan is a producer of cotton, and Bangladesh is the second-largest clothing producer in the world, next to China.  Therefore, Bangladesh has a large demand for high quality cotton, and we hope to develop our business relationship in this direction,” Mannan said. cotton-boll

Current account balance maintains surplus

The country’s current account balance recorded a surplus of nearly $1.5 billion in July-November period of the fiscal year 2013-14 ending June, a central bank official said Thursday. The Bangladesh Bank official said the current account balance showed a surplus of $1,384 million during the first five months in 2013-14 fiscal year against a surplus of $433 million during the corresponding period of the previous fiscal year (July 2012-June 2013), reported Xinhua. foreign aid He said the central bank's ...
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