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Regulators

Capital flight rising  

The amount of money flown out of Bangladesh through illicit means tripled in 2012 to stand at $1.78 billion, riding mainly on trade misinvoicing. The figure was $593 million the year before. On average, $1.31 billion funneled out of the country per year between 2003 and 2012, according to the latest study by the Global Financial Integrity (GFI), a Washington-based research organisation, released on Monday. The study ranked Bangladesh 51st among 145 developing countries that lost most money to siphoning. capital flight

Bangladesh to host Arab-Asia summit

The next edition of Arab-Asia Business Partnership Summit will be hosted by Bangladesh under the patronage of Prime Minister Shaikh Hasina. The summit will be held in association with the Partners in Population and Development (PPD), a UN affiliated intergovernmental agency consisting of health ministers from 26 countries. branding-BangladeshThis was revealed by Bangladesh’s State Minister for Health and Family Welfare Zahid Maleque during a Press conference at the conclusion of the Arab-Asia Business Partnership Summi...

Is China economy really the largest in the world?

For the first time in more than 140 years, the US has lost the title of the world’s largest economy - it has been stolen by China, according to the IMF. But how reliable are the statistics underpinning this claim? The BBC’s economics editor, Robert Peston, explains lower down why China matters to all of us. The Chinese economy is now worth $17.6tn, slightly higher than the $17.4tn the International Monetary Fund (IMF) estimates for the US. So for the first time since 1872, when it overtook the UK, the US has been knocked off the top spot. The IMF calculated these figures by using purchasing power parity (PPP) which enables you to compare how much you can buy for your money in different countries. As money goes further in China than in the US, the figure for China is adjusted up...

ADP execution only 21pc in 5 months

The rate of implementation of the Annual Development Programme (ADP) in the first five months of the current fiscal year (FY’15) was as low as 21 per cent. Planning Minister AHM Mustafa Kamal, who did not hide his worries, while speaking at a ‘press meat’ Sunday, listed a number of reasons for the slow execution of the ADP, the problem of land acquisition being at the top of the list. Mr. Mustafa Kamal, however, speaking at another function in Dhaka on the same day, expressed the hope that the economy would post a 7.0 per cent growth this fiscal, reports the Financial EXpress.

Campaigners keep up fight to stop Bangladesh coal mine

This week we found ourselves back outside the AGM of London based mining company GCM Resources again to stand in solidarity with our friends from Bangladesh who are campaigning to stop the proposed opening of an open-pit mine by GCM in Phulbari, Bangladesh. GCM AGM protest 9 Dec 14 - from EffieIt’s about 8 years since World Development Movement (WDM) was contacted by some activists from Bangladesh to see if we could work together in their work to stop GCM carrying out their a project which...

Leather sector aims for $5b in exports

Bangladesh will be able to churn $5 billion from exporting leather, leather goods and footwear in four years, riding on the back of product diversification and value addition, a leading exporter said yesterday. The sector will create 200,000 jobs in the period, said Md Saiful Islam, managing director of Picard Bangladesh. “Everyone is talking about export diversification. The leather sector will help Bangladesh diversify its exports,” said Islam, also the vice president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh. [caption id="attachment_11277" align="alignleft" width="300"]
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