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BRAC USA initiates Bangladesh humanitarian fund

The North American branch of Bangladesh-based nongovernmental antipoverty organization BRAC, formerly the Bangladesh Rural Advancement Committee — has launched a multi-year fundraising initiative to ensure continued progress on humanitarian aid and support for workers in Bangladesh’s ready-made garment industry. The initiative comes nearly one year after the RanaPlaza building collapse on April 24, 2013, which claimed the lives of more than 1,100 Bangladeshi garment workers. brac The Bangladesh Humanitarian Fun...

Climate change responses to shape Asia’s future

Challenges such as extreme weather, rising seas and worsening scarcity of drinking water are forcing many Asian governments to confront the changes being wrought by a warming planet even as some point to rich Western nations as major culprits. Millions of people in the region have already been displaced by floods and droughts thought related to global warming, a United Nations scientific panel said in a report meant to guide policymakers and form the foundation for a new climate treaty due next year. climateExperts say Asia and the South Pa...

$ 2.8b WB commitment likely to reach in current FY

Finance Minister AMA Muhith on Tuesday said the commitment from the World Bank is likely to reach $ 2.8 billion in the current fiscal year (2013-14). “The World Bank has already committed $ 1.7 billion aid to Bangladesh for the current fiscal year and we’re expecting that with three more months remaining, the total commitment from the World Bank would reach $ 2.8 billion,” Muhith said. MuhithThe Finance Minister was talking to reporters after World Bank Vice President for the South Asia region Philippe L...

ADB projects 5.6pc GDP growth

The Asian Development Bank (ADB) on Tuesday projected that Bangladesh may achieve 5.6 percent GDP growth in the current fiscal against the government’s target of 7.2 percent. However, the Finance Minister during a half yearly statement on the economy revised the target saying that it might be 6.5 percent. adb1Making the projection, the ADB said the political unrest has remained to be a major risk to the economy, reports UNB. ...

Forex reserves hit new record in March

Bangladesh's foreign exchange reserves stood at an all-time high of $19.31 billion at the end of March, $160 million more than the earlier record set in February, and more than 38 percent higher than a year earlier, the central bank said on Tuesday. The higher reserves, which stem from a widening current-account surplus, are enough to cover more than six months of imports. At the end of March 2013, reserves totalled $13.97 billion. remmitanceRising exports and slowing imports have helped build ...

Female migrant workers increased though decline in male counterparts

For a decade, remittance income drove Bangladesh's economy, building up a healthy foreign exchange reserve. Some 2.5 million Bangladeshis work overseas and men heavily dominate the country’s migrant workforce. Recently, the number of Bangladeshi women That number surged since 2012, according to the Bureau of Manpower, Employment and Training (BMET). Some 57,000 women left to work in other countries in 2013, marking a 7% increase from the previous year, the bureau reports. According to its latest figures, some 275,000 Bangladeshi women (11% of the nation’s migrant workforce) now officially work abroad, mostly in domestic service jobs. rmg
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