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Economy

More current account deficit in first 3 quarters of this fiscal

Bangladesh registered a current account deficit of 1.15 billion US dollars in the first three quarters of the 2014-15 fiscal year ending next month, a central bank official said Thursday. The Bangladesh Bank (BB) official told Xinhua that the current account balance showed a deficit of 1,149 million U.S. dollars during the first three quarters of the current fiscal year 2014-15 (July 2014- June 2015) bbagainst the surplus of 1,691 million U.S. dollars during the corresponding period of the previous fiscal year (July 2013- June 2014). As both export and remittance gro...

‘StanChart should sell Bangladeshi bonds to NRBs’

Bangladesh Bank governor Dr Atiur Rahman on Thursday recommended that British bank Standard Chartered should engage in selling different Bangladeshi bonds in the international market, particularly to the non-resident Bangladeshis living abroad. StanChart“We want you to move a step further so that the NRBs, who are living all around the world, should have the access to investment in Bangladesh... They can be able to buy the premium bonds online sitting on their own desk instead of coming to Bangladesh embassies,” he told a function celebrating the 110<...

Gap between rich and poor ‘keeps growing’

The gap between the rich and the poor keeps widening, the Organisation for Economic Cooperation and Development (OECD) says. In its 34 member states, the richest 10% of the population earn 9.6 times the income of the poorest 10%. There is no standard measure of inequality, but most indicators child laboursuggest it slowed or fell during the financial crisis and is now growing again. The OECD warns that such inequality is a threat to economic growth. The report says this is partly because there is a wider gap in education in t...

Project to dovetail textiles value chains of India, Bangladesh

A workshop on “Promotion of Regional Value Chain of Textiles within SAARC Countries” was organised by FISME in Dhaka recently. The workshop was conducted by FISME jointly with the SME Foundation of Bangladesh, an autonomous organisation of the Government of Bangladesh, engaged in development of MSME sector.
  The workshop was presided by Syed Md Ihsanul Karim, Managing Director, SME Foundation. International experts on Textiles value chains made presentations at the giz-16-5-2015

Bangladesh working towards credit upgrade: Governor

Bangladesh’s central bank governor said on Saturday the economy remained stable despite months of political unrest that has killed 120 people and slashed domestic output, and it was working towards a credit upgrade from Standard & Poor’s. Talking to Reuters on the sidelines of an international conference on the economy, Atiur Rahman said the bank’s proactive approach to promote economic stability dr. atiurduring three months of turmoil helped Bangladesh to keep its stable credit outlook. “Despite more than three months long political u...

$ 12.43b development program approved for next fiscal

The highest economic policy-making body of Bangladesh Thursday approved a 970 billion taka (about 12. 43 billion U.S. dollars) annual development program for the country in the next fiscal year 2015-16, beginning in July, with transport, power, physical infrastructure and education sectors getting the biggest chunk of govtmoney. Bangladesh's new annual development program (ADP) was approved at a meeting of the country's National Economic Council with Prime Minister Sheikh Hasina in the chair on Thursday here in the capital of Dhaka. Out of the tot...
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