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Economy

World Moto to meet with govt officials

World Moto, Inc. (OTC: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) (“World Moto” or the “Company”), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced that it will meet with several senior officials from the Information and Communication Technology Department (ICT) of Bangladesh, as well as senior corporate executives from major Bangladeshi technology companies, during a meeting scheduled for Thursday, August 20, 2015. world-moto-top“With a population of 156 million, Bangladesh is the 44th larg...

Tough law against money laundering

The cabinet has given final approval to the draft of ‘The Money Laundering Prevention (Amendment) Act, 2015’ bringing necessary change in the existing law of 2012 aimed at making the law more effective and fruitful. The approval was given at the regular meeting of the cabinet held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair, reports BSS. gov1Briefing reporters after the meeting, Cabinet Secretary M Musharraf Hossain Bhuiyan said the cabinet has also given final approval to a proposal for amending the Anti Corruption Commission ...

Drop in export

Bangladesh suffered a significant export drop in July, contracting about 12 percent over the same month last year, an official said Sunday. The Export Promotion Bureau (EPB) official who preferred to be unnamed told Xinhua that the country earned a total of 2,625.93 million U.S. dollars from exports in July, the first month of the current 2015-2016 (July 2015-June 2016) fiscal year, compared to 2, 982.74 million dollars in the same period a year earlier. Ctg portOf total earnings, he said, Bangladesh’s income from garment items, including knitwear ...

Leather exports slump amid environment concerns

Country’s tannery industry looks set to suffer a big blow as demand for finished leather and leather products in major international markets has been plunging amid grave concerns over the environmental hazard created by the country’s leather industry. Sector insiders say July exports further reflected the sluggish trend that in the country’s leather industry has continued over the last couple of years, Xinhua reported. “Demand for Bangladesh’s finished leather and leather products has been squeezing in international markets owing to concerns over environmental hazard,” said a former president

Alacer Group to support 3 Bangladesh banks

The Alacer Group, dedicated to helping business leaders accelerate performance, quality, productivity and profitability, today announced that its Velocity AML Suite has been chosen by three prominent banks in Bangladesh to improve AML case workflow and security. After an extensive search process, Mercantile Bank Limited, Social Islami Bank Limited (SIBL) and Meghna Bank selected Alacer’s Velocity AML Suite to ensure robust KYC/CIP onboarding, sanctions screening, payments interdiction and transaction profiling, all key operational areas that support local and international anti-money laundering efforts. The banks selected the Velocity solution for its ability to be quickly deployed, its robust reporting features and for the delivery of consistent and full compliance with AML regulatory ...

Fortune and peril in shrimp industry

In the late 1980s, Rizia Khatun saw how her largely agricultural village of Khagraghat, in southern Satkhira district, was losing arable land to a new, burgeoning industry — commercial shrimp cultivation. The new form of livelihood turned many poor landless villagers, like Rizia’s parents, from farmers to shrimp farmworkers. “When I was 10, I used to join my parents as a worker in local shrimp farms. I studied up to grade five, but I was forced to drop out because my parents were too poor to afford my education. I was married at the age of 14,” said Rizia, now 35 and a mother of four.
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