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ECNEC approves 177 development projects

The Executive Committee of the Bangladesh National Economic Council (ECNEC) has approved a total of 177 development projects with the outlay of Tk 1,23,404.52 crore in the first year of the current tenure of the AL-led grand alliance government, reports BSS. ecnec meetingOf the total expenditure to be involved, the government will provide Tk 47,314.9 crore from the national exchequer, Tk 71,688.73 crore will come as project assistance and Tk 4,400.89 crore from the organizations concerned. In line with Vision 2021 of the AL-led g...

Garment industry under strain from safety overhaul

Bangladesh was asked to help factories get up to speed by setting up a fund offering them low-cost loans, but the government says it is up to owners to find a way to meet safety standards after inspections Undaunted by a run of horrific factory accidents that have hit Bangladesh’s garments industry, two entrepreneurs bought Adorn Knitwear Ltd earlier this year. [caption id="attachment_11825" align="alignleft" width="300"]RMG Workers Female workers toil at a textile factory in Bangladesh as the industry there scrambles to upgrade its safety rec...

Yunus honored by Indian PM Narendra Modi

Indian Prime Minister Narendra Modi presented a gold medal to honour Nobel Laureate Professor Muhammad Yunus at the opening ceremony of the 102nd Indian Science Congress in Mumbai on 3 January. Professor Yunus along with four other Nobel Laureates and five scientists from India received the gold medal during the inaugural session of the Indian Science Congress in the presence of more than 20,000 strong audience including Ministers, Chief Ministers, leading scientists, Vice Chancellors of dozens of Indian Universities and delegates from India and abroad. Yun... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Investigate huge remittance outflow to India: CPD    

The Centre for Policy Dialogue (CPD) yesterday recommended the government should form a committee to investigate the large remittance outflows to India. Bangladesh is now the fifth largest remittance source for India, with around $3.7 billion sent in 2013. CPD1The number is expected to only increase in the coming years, according to Silicon India, a portal for professionals. “This is a warning signal,” Mustafizur Rahman, executive director of CPD, said, adding that both the Board of Investment and Bangladesh Bank may want to investigate how such huge sums...

Government borrowing likely to rise  

The Bangladesh Bank has published the auction calendar of Treasury Bills and Bonds for the first quarter of 2015. The government is going to borrow Tk 40 billion from the banking sector in January 2015 through auction of treasury bills and bonds including Tk 38 billion from bills and Tk 2 billion from Bonds respectively. Meanwhile, the government will pay the banking sector Tk 57 billion in January in the form of maturity of outstanding T-bills and Bonds and approximately Tk 7.65 billion in the form of coupon interest. Therefore, the liquidity of the market will go up by approximately Tk. 24.65 billion in total which is expected to reduce the call money rate in January. The call money rate hit 8.90 per cent in December last due to the banks' tendency to disburse more loans at year-en...

US expands items from child labor, includes Bangladesh

The Labor Department of USA last week expanded its list of products worldwide it says were likely produced by child or forced labor, ranging from garments from Bangladesh and electronics from Malaysia to cotton and sugar cane from India. “There’s a story behind each item on these lists — a child facing back-breaking labor without education or other opportunities for a child labourbetter life or an adult trapped in a dismal job through deceit or threats,” Labor Secretary Thomas E. Perez said in a statement. “These lists raise awareness...
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