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Draft Textile Policy-2014 seeks to double production    

The government has drafted the 'Textile Policy 2014' aiming to double the local textile production by the fiscal year 2019-20, sources said. The annual combined demand for fabric from the domestic market and the export-oriented garment sector is around 11,400 million metres, of which 62 per cent, about 7,000 million metres, is met locally. Now, the government has targeted to raise the domestic production to 14,036 metres by 2019-20, double the existing production, they added. textile chemicalThe move to prepare a new policy was ini...

BB encourages banks to widen its CSR activities, says Atiur

Bangladesh Bank (BB) Governor Dr. Atiur Rahman Wednesday said the central bank is encouraging the banks to widen and deepen their activities under corporate social responsibilities (CSR), reports BSS. "Initiative of providing support to nine development organizations from the BB's social responsibility fund is a bold step to this effort," said the governor while while receiving a report titled "Paying Back: Bangladesh Bank sets example" from the Management and Resources Development Initiative (MRDI) at a ceremony. bb 222The report is a compila...

Safety problems found in 19 garment factories    

The North American-led Alliance for Bangladesh Worker Safety, which includes Hudson’s Bay Company and Canadian Tire, says it has now shut down or partially closed 19 factories in the country due to safety concerns. The Alliance, which represents 27 big brands operating in Bangladesh, was formed after the devastating Rana Plaza factory disaster, which killed nearly 1,129 people on April 24, 2013, and injured thousands more. It began an inspection program in the 600 garment factories in which the big brands operate, looking for structural or electrical defects and fire safety concerns. The results of the inspection reports are released on the Alliance’s website.

Remittance falls by 25pc in October  

The inward flow of remittances fell by nearly 25 per cent in October over the previous month’s mark, in a bit ebb tide after a steady surge. Official figures show the downturn came after a steady growth in the overall remittance inflow that took the total over US$5.0 billion in the first four months of this fiscal. “The inflow of remittance is still at a satisfactory level despite downturn in the month of October,” a senior official of the Bangladesh Bank (BB) told the FE. The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC count... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Deal signed for Padma bridge consultancy

The government yesterday entered a Tk 383.15 crore deal with a joint venture of six companies for the supervision consultancy job of the Padma bridge project.

Under the four-year deal, the joint venture, led by Korean Expressway Corporation, will supervise the construction of the main bridge and river training works. Shafiqul Islam, project director of the Padma bridge project, and Cho Nam-Min, team leader of the joint venture, signed the agreement at the Setu Bhaban. Road Transport and Bridges Minister Obaidul Quader, Korean Ambassador in Dhaka Lee Yun-young and the chairman of the technical evaluation committee were present, reports the Daily Star.

Inclusive growth, competitiveness top agenda in India summit  

The World Economic Forum, in partnership with the Confederation of Indian Industry (CII), is hosting the India Economic Summit in New Delhi this week on 4-6 November. Under the theme, Redefining Public-Private Cooperation for a New Beginning, the summit convenes against a backdrop of significant economic growth and progress in reducing poverty in most parts of India, but also persistent inequality. The programme is built on three pillars: Boosting Global Competitiveness; Launching a Domestic Systems Reset; and Scaling Local and Social Innovation. More than 700 leaders from business, government, civil society and academia from 45 countries will take part.
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