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Apparel exporters go green to receive more orders

Bangladesh’s apparel exporters are turning to green building initiatives aiming to get more work orders by impressing the eco-friendly retailers across the globe. rmg222As part of the move, 14 garment factories from Bangladesh have already received Leadership in Energy and Environmental Design (LEED) certification from the United States Green Building Council (USGBC) after confirming their practice of good compliance and environmentally safe procedures. The LEED certification is a rating system that reviews a factory’s green initiatives such a...

Political stability required for higher growth, says ICCB

Bangladesh economy, over the past decade, has maintained a healthy 6%-plus growth rate, despite global shocks. Sustained growth has generated higher demand for improved infrastructure including uninterrupted power supply, better transport and telecommunication services. All these require increased private investment, according to ICCB Executive Board Report. ICCB Annual Council PhotoIn the budget of current fiscal, the government has set 7.3% growth target. To achieve the target, according to ADB, the total i...

Lending interest still high: BB Governor

Bangladesh Bank Governor Dr. Atiur Rahman on Thursday said interest rate on lending is still higher than the expected level though the interest on deposit is decreasing. dr. atiurAtiur said “The sliding of interest rate on lending in recent times was not at that pace which the interest rate on deposit had has experienced. Still, some 13 banks are counting the interest rate on lending at over 14 percent” He also expressed his shock over the fact that five banks are charging their agricultural loans at well over 11%. He did however expres...

India, Bangladesh agree on HYV rice seeds trade

Seed associations of India and Bangladesh on Thursday signed a cooperation agreement to initiate cross-border trade in high-yielding variety (HYV) rice seeds that will also enable knowledge-sharing in their production and trade. bd-indiaA Memorandum of Understanding for this purpose was signed here between the Bangladesh Seeds Association and the National Seed Association of India. There is currently no formal trade between both countries in HYV rice seeds, but there much movement through informal channels in this low-value, high-volume trade that is ...

New record in forex reserve

Bangladesh’s foreign currency reserves have reached $24 billion on Wednesday, setting a new record. The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countriesKazi Saidur Rahman General Manager of Bangladesh Bank (BB) confirmed this to reporters. The reserves first crossed the $23-billion mark on February 26 this year. The reserve is currently enough to meet the country’s import bills for more than six months. The central bank attributed the record reserve accumulation to a stable flow of remitt...

Credit profile supported by strong, stable growth

Moody’s Investors Service says that Bangladesh’s Ba3 foreign currency government bond rating reflects its track record of macroeconomic stability, a modest debt burden, and limited externalvulnerabilities with an ample foreign reserve buffer. moody'sBut a fractious political environment, narrow tax revenue base, and a very low level of per capita income constrain the rating. Moody’s conclusions were contained in its just-released credit analysis “Bangladesh” and which looks at the country’s credit profile in terms of Economic Strength (assessed as “moder...
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