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USAID’s new programme in for RMG workers

The US Agency for International Development (USAID) has announced a three-year Worker Empowerment Programme in Bangladesh to support labor rights, union organizing, and women’s empowerment in the ready-made garment (RMG) sector. The announcement coincided with the second anniversary of the Rana Plaza garment factory collapse in Dhaka that killed over 1,100 rmg222workers and injured over 2,500, USAID said in a statement. “USAID’s Worker Empowerment Program demonstrates the United States’ vigilance in promoting fundamental labor rights, including w...

BB must have more control over money market

The government should give more powers to Bangladesh Bank to allow it to properly play its role in the money market and rein in inflation, the central bank’s Chief Economist Biru Paksha Paul said yesterday. bbThe government’s control on the interest rate on savings certificates disturbs the market and affects the central bank’s efforts to bring down lending rates and control inflation, which are needed to boost investment, he said, reports the Daily Star. “The central bank is supposed to control the interest rates. If there is someone else playing this role, our g...

ADB trims Bangladesh fiscal growth forecast to 6.1pc

The Asian Development Bank (ADB) has trimmed its growth forecast for Bangladesh in the current 2014-15 fiscal year, citing a number of challenges. adb1In its update to the outlook, ADB said Tuesday that Bangladesh’ s economic and social progress notwithstanding, the country still faces a number of medium-to longer-term challenges, reports Xinhua. GDP or Gross Domestic Product growth in 2014-15 (July 2014-June 2015) is projected at 6.1 percent, lower than the 6.4 percent forecasted by the Asian Development Outlook 2014 Update, launched in September 2...

Nepal-Bangladesh trade talks slated to start tomorrow

Trade talks between Nepal and Bangladesh are scheduled to start on Wednesday in Kathmandu. During the meeting, Nepal has planned to ask for easy visa facility for Nepalis, preferential treatment for a number of Nepali goods, access to Bangladeshi ports for exports to third countries and determination of the exchange rate between the currencies of the two countries. bd-nepalbd-nepal According to the Ministry of Commerce and Supply (MoCS), a Bangladeshi delegation will be arriving in Kathmandu on Monday for the meeting. The two countries have been hol...

Bangladesh eyes fivefold increase in RMG exports to Canada

Bangladesh aims to raise its exports of readymade garments (RMG) to Canada at least fivefold to $3.5 billion by 2021, the chief of the Canada Bangladesh Chamber of Commerce and Industry (CanCham Bangladesh) said on Sunday. Bangladesh-rmg-workerMasud Rahman said total Bangladeshi exports to Canada stood at $1.1 billion in the fiscal year to June 2014, making it the fifth biggest market for the Asian country. Of that figure, RMG - Bangladesh’s main export - totalled $770 million. “The country aims to increase the val...

Govt, WB negotiate fresh aid package

Dhaka has agreed to join a fresh dialogue with the World Bank, on necessary reforms to receive aid under a ‘development policy credit’ package. The global agency, too, has expressed willingness to “do more to develop the country’s transport and energy infrastructures”. wbThe development came during a meeting between WB managing director and chief operating officer Sri Mulyani Indrawati and finance minister Abul Maal Abdul Muhith in Washington DC on Friday, according to a message in Dhaka on Sunday morning. They held talks on the sidelines of the ‘Spr...
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