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Economy

15pc ADP implementation in July-Oct

The progress  in implementation of the Annual Development Programme (ADP) except for the self-financed projects in the first four months (July-October) of current fiscal (2013-14) was 15 percent compared to 20 percent during the same period of the previous fiscal (2012-13). According to the Implementation, Monitoring and Evaluation Division (IMED), the ADP expenditure during the four-month period except for the self-financed projects was Tk 9,906 crore compared to Tk 10,920 crore during the corresponding period of fiscal 2012-13. The ADP size except for the self-financed projects in the current fiscal (FY14) is Tk 65,872 crore. In case of the self-financed projects, the implementation rate marked 6 percent with Tk 461 crore ...

Tripura-Bangladesh trade suspended indefinitely

A trader’s association in Tripura has suspended trade with Bangladesh through Akhaura multi-use integrated check post (MICP) in Agartala for indefinite period from Friday. Export-Importers’ Association of Tripura (EIAT) has taken the step to protest hike in ‘loading and unloading’ tariff by the Central Warehousing Corporation (CWC) after inauguration of the check post on November 17. bd-india border

WTO deal still possible in Bali Conference, hopes ICC

International Chamber of Commerce (ICC) has called the members of World Trade Organization (WTO) to spare no effort to achieve a trade facilitation deal in time for the Bali Conference next week. ICC, following the WTO Director-General Roberto Azevedo’s signal on Tuesday that the formal WTO negotiating process had reached a conclusion for the time being, asked the member countries to demonstrate the political will needed to settle the agreement, said a press release here on Thursday . icc-logo “This is a clarion call for global business to continue ur...

BB initiates CoFI to ensure market discipline

Bangladesh Bank (BB) has introduced the cost of funds index (CoFI) for non-banking financial institutions (NBFIs) aiming to ensure market discipline. "The CoFI will strengthen the liquidity management of NBFIs which will also help them build future capability," said the central bank Governor Dr Atiur Rahman, while inaugurating the CoFI on the central bank's website at its auditorium in the city Wednesday. He said all the banks will come under the process very soon as necessary preparations are going on. The BB Governor said: "We have launched the CoFI as the first country in the sub-continent and it is part of our ongoing automation and digitalisation process."

GDP decelerates for 2nd year in a row to 6pc: WB

The Gross Domestic Product (GDP) growth of Bangladesh has decelerated for the second year in a row to 6 per cent, says a World Bank (WB) report published on Thursday. Disruptions caused by political strife, deepening political tensions relating to the impending political transition and the inadequacies of improvements in the provision of power, gas and infrastructure were the key factors in the growth slowdown. These contributed to weakening investor confidence leading to a 1.2 percent decline in the private investment rate, the report added. wbEcono...

Remittance from KSA highest in July-Oct period

The expatriate Bangladeshis working in Saudi Arabia sent the highest amount of $ 944.34 million remittance during the July-October period of the current fiscal year (2013-14). The overall remittance inflow to Bangladesh during the four-month period totalled $4,500.64 million of which $1,230.68 million came in this October, according to the latest data of the Bangladesh Bank. The overall remittance inflow in September totalled $ 1,025.69 million. remmitance The central bank data showed that of the total $ 4,500.64 million sent in July-Oct...
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