Compensation fund far short of goal
Nearly a year after the collapse of a garment-factory complex in Bangladesh killed more than 1,100 workers, labor groups say global retailers still haven’t put up the funds needed to compensate the victims.
A trust fund set up earlier this year by labor groups and clothing companies said it would raise $40 million to help survivors of the RanaPlaza disaster and the families of those who perished. So far, the fund has collected $15 million.
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2013 most challenging year for Bangladesh: ICCB
The year 2013 has been one of the most challenging years for the country's economy in recent times. Failure to implement the Padma bridge project, collapse of a garment factory killing over 1,100 people, US suspension of GSP facilities, large scale financial scams, unprecedented political violence, etc have been very damaging to the country’s image.
According to the Executive Board Report, against all odds, Bangladesh has been able to attain a GDP growth of 6....
According to the Executive Board Report, against all odds, Bangladesh has been able to attain a GDP growth of 6....
Bangladesh signs deal with IMO on ship-recycling
The International Maritime Organization (IMO) and the Bangladesh government have signed a landmark agreement to work together to improve safety and environmental standards in the country’s ship-recycling industry.
A Memorandum of Understanding formalizing the cooperation between the two was signed by Mr Nicolaos Charalambous, Director, Technical Cooperation Division, IMO and Mr Md. Ashadul Islam, Additional Secretary, Economic Relations Division of the Ministry of Finance of the Government of Bangladesh, on 10 April 2014.
The import of rice increased by 1,196.24 per cent in the first eight months of the current financial year 2013-14 compared with that of the same period in the FY13.
According to the Bangladesh Bank data released on Tuesday, the settlement of letters of credit, or generally known as actual import, for rice stood at $171.58 million in July-February of the FY14 against $13.24 million during the same period of the FY13.
A BB fact finding report said fall in rice prices on the global market was the key reason for the jump in the country’s rice impo...
Bangladesh faces less Islamic terrorism than India, Pakistan
Bangladesh has much less of an Islamic terrorism problem than India and Pakistan but it also has Islamic political parties and these are becoming more of a problem. While most Bangladeshis are hostile to Islamic terrorism, a growing number back the Islamic politicians. The reason can be summed up in one word; corruption.
The two largest secular political parties are notoriously corrupt and have been for decades. The secular politicians talk about eliminating corruption but never do anything about it. The Islamic politicians are seen as (and generally are, for the most part) less corrupt.
Rice import increases significantly in 8 months
The import of rice increased by 1,196.24 per cent in the first eight months of the current financial year 2013-14 compared with that of the same period in the FY13.
According to the Bangladesh Bank data released on Tuesday, the settlement of letters of credit, or generally known as actual import, for rice stood at $171.58 million in July-February of the FY14 against $13.24 million during the same period of the FY13.
A BB fact finding report said fall in rice prices on the global market was the key reason for the jump in the country’s rice impo...
Fourth review under IMF ECF arrangement
An International Monetary Fund mission (IMF), led by Mr. Rodrigo Cubero, visited Dhaka during March 19-April 2 to conduct the fourth review under the three-year, SDR 639.96 million (US$ 985.66 Million), Extended Credit Facility (ECF) arrangement. The mission met with the Minister of Finance, Minister of Planning, Finance Secretary, Banking Secretary, Bangladesh Bank Governor, other senior officials, and development partners.
At the conclusion of the visit, Mr. Cubero made the following statement:
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At the conclusion of the visit, Mr. Cubero made the following statement:
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