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Govt joins Better Than Cash Alliance for digital financial service

Aligned with the nation’s Digital Bangladesh Vision 2021, the Government today announced it will accelerate its transition from cash to digital payments, marked by a new partnership with the Better Than Cash Alliance. With mounting evidence that digital financial services are a sustainable strategy to deliver effective govtaccess to financial services for all citizens, the move also supports the Government’s efforts to advance financial inclusion. The Government plans to digitize all forms of social safety payments to citizens, and all forms of fees ...

India may outmanoeuvre China in Bangladesh power project

State-owned Bharat Heavy Electricals Ltd (Bhel) has been allowed to bid for a contract to set up a $1.68 billion power project in Bangladesh, enabling India to muscle in on a potential Chinese move on the deal. This comes in the backdrop of Prime Minister Narendra Modi’s planned visit to the eastern neighbour. [caption id="attachment_16548" align="alignleft" width="300"]modi-kSY--621x414@LiveMint The development comes in the backdrop of Prime Minister Narendra Modi’s Bangladesh visit. Photo: Reuters[/caption] As ...

May remittances up 8.5pc year-on-year

Money sent home by Bangladeshis working overseas in May rose 8.5 percent from a year earlier to nearly $1.32 billion, the central bank said on Tuesday. In July-May, the first 11 months of the 2014-15 financial year, Bangladesh received about $13.87 billion in remittances, up 7.2 percent from the same period of the previous year. BD-workforce in KSARemittances from its millions of citizens abroad are critical for the South Asian nation of 160 million people. The inflows are a key source of foreign exchange, alongside...

Automobiles, tyre industries to get 10-yr tax holiday

The government is likely to provide tax holiday benefit to some sectors including automobiles and tyre industries from the upcoming national budget to facilitate industrialisation in the country, officials of the finance ministry said. Japan Tokyo Motor ShowThey said that the proposed tax holiday facility would encourage setting up the import substitute manufacturing plants in the country which would create new employment opportunities as well as save foreign currency through reducing dependence on import. Finance...

Boat migrants doomed from the start

Over the last couple of weeks, the world has woken up to the horrific trade in human beings being conducted in the seas of South East Asia. We’ve learned a lot about the end of the journey, the slave camps and mass graves in the jungles of Thailand and Malaysia. What we haven’t heard so much about is how these journeys begin. We travelled to southern Bangladesh, where many of the migrants set off on their perilous voyages. rohingyaWhat we have discovered brings a shocking new dimension to this story that speaks of the terrible desp...

Modi heading to Bangladesh with China on his mind

Prime Minister Narendra Modi will take border settlement and water sharing deals to Bangladesh next month as part of his drive to erode Chinese influence in South Asia, although Dhaka is likely to remain dependant on Beijing for military equipment. India, which has had an uneasy relationship with China for decades, pm-narendra-modi_650x400_51424803339has long fretted over Beijing’s military cooperation with its South Asian neighbours, especially Pakistan. It is also worried China is c...
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