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WB to scale up funding in Bangladesh

The World Bank (WB) most likely will scale up its funding to Bangladesh, with pleading new financing commitments amounting to $1.9 billion for the current 2015-16 financial year (FY16). Referring to a meeting between finance minister Abul Maal Abdul Muhith and WB senior vice wbpresident Kyle Peters, the multi-donor agency in a press release issued here today (Sunday) said the agenda of the meeting included discussion on the WB's growing portfolio in Bangladesh. The meeting was held on the sidelines of the IMF-WB annual meeting held in Lima, Peru on Saturday where...

Trial of 156 cases of ‘militants’ halted

The trial process of 156 cases in relation to ‘militant activities’ remains halted as plaintiffs, investigating officers and witnesses of the cases from members of the police are not turning up in the courts. The courts are not being able to begin the proceedings of 138 cases filed under the anti-terrorism act for lack of government approval. The proceedings of four more cases remained suspended due to the stay order by the High Court. Sources concerned said, arrest warrants were issued against 333 members of the police, who high courtare also w...

IFC bond imminent, says BB governor

Governor of the Bangladesh Bank (BB) Dr. Atiur Rahman appears to be one of the relaxed and contented central bank governors in Lima this week, having avoided the commodity crash and sitting on substantial foreign currency reserves. The taka is also about to make its debut in the international bond markets, with the IFC set to issue in the currency The IFC’s plan to issue a offshore Bangladeshi taka-denominated bond will be invested in [caption id="attachment_19218" align="alignleft" width="650"]File Photo File Photo[/caption] private infrastructure projects a...

Expat murders linked to IS put Bangladesh on edge

Two expat murders in Bangladesh are stoking concerns that Islamic extremists may tarnish the country’s image at a time when its economy is a rare bright spot in Asia. A Japanese investor was shot and killed in northern Bangladesh on Oct. 3, about a week after three people murdered an Italian aid worker in an area popular with diplomats in Dhaka, Bangladesh’s capital. Islamic State claimed responsibility for the slayings, an assertion rejected by the government. “This threat and insecurity currently makes foreigners think twice before they visit [caption id="attachment_20006" align="alignleft" width="540"]

Undeclared Indian embargo halts BD-Nepal trade

Bangladesh-Nepal bilateral trade has been halted for the past two weeks due to the undeclared Indian trade embargo on Nepal. [caption id="attachment_20215" align="alignleft" width="650"]BD-Nepal trade A file photo shows Nepal-bound goods carriers stranded at Fulbari on the India-Bangladesh border.[/caption] According to Nepal Transit Warehouse Company, about 200 trucks carrying various imported goods have been stuck at Banlabanda on the India-Bangladesh border. “Bangladeshi exporters are reluctant to dispatch goods to Nepal,” said Yadav Raj Shiwak...

TPP signing worries economists, trade leaders

Bangladesh is set to lose its competitive edge in global apparel business as trade ministers of 12 Asia Pacific nations signed the Trans-Pacific Partnership agreement on Monday. Economists and leaders of trade bodies suggested that Bangladesh should take preparations to join the landmark Trans-Pacific Partnership (TPP) agreement in future. Bangladesh is set to lose its competitive edge in global apparel business as trade ministers of 12 Asia Pacific nations struck the deal in Atlanta. rmgThe hard-won deal to create the world’s largest free-trade area, en...
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