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Labour market needed to expand amid fall in remittances

The inward flow of remittance is going down as the country is failing to send more workers abroad to traditional labour markets and explore new markets. The country’s remittance inflow dropped by nearly 3.0 per cent to $13.83 billion in 2013 from $14.17 billion in 2012. In fact, the latest drop in remittance occurred in line with predictions by the economists. They say if Bangladesh cannot send new workers abroad, there will not be significant growth in remittances. The migrant workers are now sending money home as per their maximum capacities and have little capacity to increase the flow.

Bangladeshis among 700 illegal expats arrested in Riyadh

Police in Saudi Arabia’s capital Riyadh have arrested 700 illegal expatriates, including Bangladeshi nationals. Police said that those arrested in Wednesday’s raids included runaways, workers with forged documents and others facing criminal charges from Yemen, Pakistan, India and Bangladesh, the Arab News reported Friday. Around 200 vendors of vegetables and fruits, 12 wanted men, and a group of bootleggers were also arrested in a major crackdown in Al-Unooz district in the capital of the country. KSAPrior ...

Traders buy 150,000t wheat from Indian

Three traders in Bangladesh have bought 150,000 tonnes of wheat from neighbouring India at prices ranging from $302 to $305 a tonne, including cost of delivery to Chittagong port, two sources said on Wednesday. wheatBangladesh has turned to India for wheat supplies since New Delhi lifted a ban on exports in 2011. Separately, Bangladesh's state grains buyer has received the lowest offer from Glencore of $303 a tonne, including freight, insurance and other expenses, in a tender that opened on Tuesday. Bangladeshi tr...

Tea prices slip at weekly auction

Tea prices in Bangladesh slipped at the weekly auction on Tuesday as the volumes offered were the highest of the season so far, including a larger quantity of poor grade leaf, brokers said. Bangladeshi tea fetched an average of 194.14 taka ($2.50) per kg against 198.43 taka in the previous auction held on January 21, an official from National Brokers Limited said. teaAround 2.7 milli...

Bangladesh intends to buy cotton from Kyrgyzstan

Bangladesh has intended to buy cotton from Kyrgyzstan, Mosud Mannan, Extraordinary and Plenipotentiary Ambassador of Bangladesh to Kyrgyzstan with residence in Tashkent, said while presenting his credentials to the President of the Kyrgyz Republic Almazbek Atambayev. “Kyrgyzstan is a producer of cotton, and Bangladesh is the second-largest clothing producer in the world, next to China.  Therefore, Bangladesh has a large demand for high quality cotton, and we hope to develop our business relationship in this direction,” Mannan said. cotton-boll

TCB issues tender to buy 1,500t of lentils

 Trading Corporation of Bangladesh (TCB) has floated a tender to import 1,500 tonnes of lentils as part of efforts to secure food supplies for the Muslim fasting month of Ramadan, a senior official at the state buyer said on Thursday. The last date for submission of bids is Feb. 18, and the lentils are to be shipped within 45 days from the opening of the letter of credit on the purchase, the official said. lentilsThe state buyer has moved to import other items a...
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