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Economy

Barings Sees Opportunities in Bangladesh, Sri Lanka and Nigeria

Global events have had an unusually powerful effect on frontier markets recently, says Michael Levy, manager of Barings’ $50 million frontier markets fund. Frontier economies are commonly considered to be less affected by global developments than emerging markets but as oil prices slumped over the past eight months the frontier markets as an asset class suffered a similarly steep decline. BN-HA750_bangph_G_20150219164428Levy, though, believes the effect will be temporary. “Certainly, there have ...

Company in Bangladesh agrees to union peace

After wielding intense pressure against a Bangladeshi apparel maker over assaults on union leaders outside its factories, Western companies have agreed to resume business with that manufacturer, on the condition that it stay committed to halting further violence and make peace with its labor unions. Bangladesh-rmg-workerVF, which makes North Face and Nautica, and PVH, the parent of Calvin Klein and Tommy Hilfiger, as well as Gap, El Corte Ingles and other companies, had cut off or threatened to cut off orders from the...

Atiur for more SME financing by banks

Bangladesh Bank Governor Dr. Atiur Rahman has strongly advocated more lending to small and medium enterprises (SMEs) by commercial banks for promoting inclusive growth, reports BSS. dr. atiurThe governor said the Basel Rules imposing higher capital charges on bank lending to SMEs are viewed as riskier than larger corporates, and to some extent as a disincentive for commercial banks. However, he noted that the substantially higher interest the banks earn on SME loans is well enough to cover the marginally higher capital charge related costs. ...

Bangladesh’s prospects of economic growth

With over 160 million people, a young and cheap labor force and a strategic location between India and China – two of largest engines of global economic growth over the past decade – Bangladesh maintains strong prospects for extended economic growth. The extent of Bangladesh’s growth will largely depend on its leaders’ ability to improve economic and diplomatic ties among its neighbors. Completion of a highly anticipated Indo-Bangladeshi free-trade agreement will help spur Bangladesh’s already surging garment, pharmaceutical, and software industries. Bangladesh has also begun to construct large infrastructure projects, such as electrical power plants, to address domestic and regional energy needs. In addition, with 50% of its workforce in the service sector, Bangladesh has the

$ 500m green fund for textile

The central bank will set aside $500 million of low-cost funds for textile factories to help them adopt eco-friendly technologies and practices, Governor Atiur Rahman said yesterday. The money will come in addition to the existing export development fund (EDF) of $1.5 billion and will be named Green EDF, he told a discussion at the office of Policy Research Institute of Bangladesh in Dhaka. Bangladesh BankPRI organised the discussion on “access to finance: environmental sustainability in the textile sector” in association with...

$ 256.78m in remittance from Feb 1-6

The country received $256.78 million in remittance during the first six days of the current month of February. Bangladesh Bank statistics show the four state-owned commercial banks—Agrani, Janata, Rupali and Sonali—received $92.65 million from the expatriate Bangladeshis while four state-owned specialized banks received $4.32 million. remmitanceThe maximum remittance came through the private commercial banks who received $164.69 million while the 9 foreign banks received only $4.33 million. Among the private commercial banks, Islami B...
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