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Misusing SAFTA Indian importers get China bicycles via Bangladesh

Chinese bicycles influx goes unhindered despite “heavy” import duty as the Importers importers are bringing such China-made products via countries such as Sri Lanka and Bangladesh by paying “lower” custom charges. SAARCDubbing this practice as “escape route”, industry insiders say that some bicycle importers are importing cheap Chinese bicycles via other countries by “circumventing” the law, resulted into a blow to the domestic bicycle makers, reports PTI. “Some of the importers have now found a new way to import Chinese bicycles via Sri Lanka, Bangladesh ...

Bangladesh jute report – Feb 9

Rates supplied by the Bangladesh Jute Association

JUTE VARIETY BALES FOB Narayanganj (One bale = 180 kg) (Taka per bale) juteReady Position (in taka) Bangla white special (BW special) 12,800 Bangla white A (BWA) 12,500 Bangla white B (BWB) 11,600 Bangla white C (BWC) 10,100 Bangla white D (BWD) 9,650 Bangla white E (BWE) 9,200 Bangla tossa special (BTS) 13,100 Bangla tossa A (BTA) 13,800 Bangla tossa B (BTB) 11,900 Bangla tossa C (BTC) 10,400 Bangla tossa D (BTD) 9,950 Bangla tossa E (BTE...

Appetite for project loans wanes

Businesses’ appetite for term loans, typically used for major investments or acquisitions, shrank in the first half of the fiscal year, due mainly to the unstable political climate in the lead-up to national elections. Between July and December last year, banks disbursed Tk 21,565 crore in term credit, down 1.77 percent year-on-year, according to central bank statistics. During the period, term lending to large-scale industries increased 5.75 percent and small-scale industries 39.43 percent, while it plummeted 28.26 percent in case of medium-scale industries. remmitance

Corruption allegation against LGED Chief Engineer

Chief Engineer of Local Government Engineering Department (LGED), Wahidur Rahman has allegedly been involved in corruption of thousands crore taka. He has bought two luxurious homes in Australia with those money, reported a local Bangla daily and a weekly on Sunday. According to a report, Wahidur Rahman is a fake freedom fighter. He has been a model of corruption among the government employees of the country.     LGED ChiefThe allegation of corruption against Wahidur Rahman was first disclosed in the period o...

Mamata helping fundamentalists in Bangladesh: Biman Bose

Accusing the Trinamool Congress government of helping fundamentalist forces in Bangladesh, the Left Front Sunday said its stand has resulted in fanatics belonging to both the majority and minority communities becoming more active in West Bengal. Calling it a conspiracy, Left Front chairman Biman Bose said some people have also been forced to cross over to West Bengal from the neighbouring country as the Teesta river water sharing and enclave exchange issues still remained unresolved. Mamata“The Trinamool...

ILO welcomes upgradation of Bangladesh labour inspectorate

The International Labour Organisation (ILO) welcomes the decision of the Government of Bangladesh to upgrade the Chief Inspector of Factories and Establishments office to a 'Directorate' as an important step in the implementation of one of the commitments agreed by the Government in the National Tripartite Plan of Action on Fire Safety and Structural Integrity and the EU Sustainability Compact issued on 8 July 2013. The Government issued orders on 15 January 2014 sanctioning 679 new staff positions in the Directorate including 392 new inspector positions. With this upgrade, the number of labour and factory inspectors will increase to a total of 575 from the current 183 positions.
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