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economy

Meghna Bank holds Dy Managers’ Confce

The Deputy Managers’ Conference of Meghna Bank Limited was held on Saturday, October 31, 2015 at the Head Office of Meghna Bank Limited. MGBLAt inaugural session, the meeting was presided over by the Managing Director & CEO of Meghna Bank Ltd Mr. Mohammed Nurul Amin. Among others, the Additional Managing Director Mr. Md. Mohashin Miah and Heads/In charge of different divisions/departments were present at the meeting. In the meeting, business progresses were reviewed and strategic business plans were set for next few months of this year.

ADB to help develop regional transport projects

Bangladesh will receive a $30 million loan from the Asian Development Bank (ADB) to help develop transport corridors to stimulate trade in the region, a senior official said on Friday. adb1Senior finance ministry official Mohammad Mejbahuddin and Kazuhiko Higuchi, Bangladesh country director for the Manila-based ADB, signed the agreement in Dhaka. "The assistance will be used to undertake technical studies and to prepare designs for future investments in large infrastructure projects in railways and roads sectors," Mejbahuddin told Reuters. “The assistance...

BB launches instant fund transfer system

Bangladesh Bank (BB) launched Real Time Gross Settlement (RTGS) with 55 banks today. “Introduction of RTGS would enable instant transfer of funds between banks and institutions,” said Governor Atiur Rahman at the inauguration of the service at the BB headquarters in Dhaka. bbInitially 5,000 branches of 55 banks will be able to render the service to its customers. Rahman said the system will have a substantial impact on current operations in the banks, particularly in the area of treasury, payment division, corporate banking and cash management. RTGS facil...

Dhaka underground rail alongside metro rail

The government is planning an underground rail network, alongside the metro rail project in Dhaka in a bid to ease the traffic. Prime Minister Sheikh Hasina ordered the Planning Commission on Thursday to ready a project for this, Planning Minister AHM Mustafa Kamal said after ECNEC meeting. Underground-raikl“We’ll conduct a survey soon in this regard. Later, a project will be prepared based on the results,” he said. However, the plan came just after the government is gearing up to metro rail project in Dhaka. He said the go...

Forex reserve crosses $ 27b

The country’s foreign exchange reserve crossed a new height of US$ 27 billion mark on Thursday. Bangladesh Bank executive director M Mahfuzur Rahman confirmed this to Prothom Alo on Thursday. He, however, said they were working on to ascertain the final amount of the forex reserve at the end of the day. Earlier on 17 August, country’s foreign exchange reserve surpassed US$ 26 billion benchmark for the first time. According to international standard, a country should ideally have reserves to meet the import bill for at least three months. But, Bangladesh has now enough reserves to pay import bills for around seven months.

-Prothom Alo

Nepal’s parliament elects first female president

Nepal’s parliament elected lawmaker Bidhya Bhandari as the country’s first female president Wednesday, after the adoption of a landmark constitution last month. The former defence minister defeated her opponent Kul Bahadur Gurung by 327 to 214 votes to become the Himalayan nation’s ceremonial head of state. Bhandari, the vice-chair of the ruling Communist Party of Nepal (Unified Marxist Leninist), replaces Ram Baran Yadav, reports AFP. 1st female presidnet of NepalHe was elected as the first president in ...
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