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Q1 remittances reach $ 4bn

Bangladesh’s central bank governor elected chairman of Asian Clearing Union ADB to lend Bangladesh $45 mln for water resource project India’s push to save its cows starves Bangladesh of beef Arrest warrants for 33 Bangladesh opposition members Bangladesh’s Mustafizur mesmerises with record wicket haul Bangladeshis living and working abroad remitted home nearly $4 billion in the first quarter of the current 2015-2016 fiscal year, a central bank official said on Wednesday. Remittance-450x325Quoting provisional data, the Bangladesh ...

Inflation rises a little after Eid-ul-Azha

The inflation rate in the country has seen a slight increase in the month of September. The rate increased slightly to 6.24 percentage point, up from 6.17 percentage point in August. The increased buying trend during the Eid-ul-Azha is mainly responsible for the slight rise. “The general point-to-point inflation rate in September increased to 6.24 percentage point, up inflationfrom 6.17 percentage point in August,” Planning Minister AHM Mustafa Kamal while releasing the monthly consumer price index at the NEC 2 after the ECNEC meeting on Wednesday....

ADB to help finance India-Bangladesh power link

The Asian Development Bank (ADB) is to help finance a project to increase transmission capacity of an India-Bangladesh power link to allow Bangladesh to better meet sharply rising power demand. ADB’s $120 million loan to Bangladesh will double the capacity of the existing interconnector which links the power grid of western Bangladesh at Bheramara and the grid of eastern India at Bharampur. adb1The two networks were first interconnected in 2013, under a previous project financed by ADB. New transmission capacity will rise from 500 megawatts (MW) to 1,000 MW,...

NRB banks channel diaspora investment to Bangladesh

When Iqbal Ahmed set out to launch Bangladesh’s first-ever bank with the specific mission of tapping into diaspora funds, his biggest challenge seemed obvious: to convince other non-resident Bangladeshis that their country of origin was an attractive investment destination. [caption id="attachment_20037" align="alignright" width="650"]wsj Bangladesh’s government hopes non-residents’ banks will channel funds into infrastructure projects. Bloomberg News[/caption] Returning to invest in Bangladesh—a country that Henry Kissinger once called a basket case — seemed unthinkab...

WB pledges strong support for BD’s development

World Bank (WB) Vice President for the South Asia Region, Annette Dixon, has pledged strong support for the development of Bangladesh. Dixon praised Monday Bangladesh’s progress in poverty reduction and economic development during her second visit to the country in her current role, Xinghua reported. “The World Bank will continue to support Bangladesh in areas necessary to move up within middle income country status. Bangladesh will need sustained reform efforts for further wbadvancement,” said Dixon. The World Bank classified Bangladesh as a lower-middle cou...

ADB forecasts 6.7pc GDP growth

Bangladesh economy is expected to perform strongly this year, according to the latest figures from the Asian Development Bank (ADB). ADB in its outlook update 2015 forecasted that Bangladesh’s Gross Domestic Product (GDP) growth will be 6.7 percent this fiscal year, up from 6.5 percent in the previous year. adb1“Brisk domestic demand, supported by remittances, public investment and manufacturing for domestic market pulled the economic growth in FY2015,” Kazuhiko Higuchi, country director of ADB, said at a media briefing at the Bank’s Dhaka office today. T...
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