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Ferry capsizes with 250 passengers in Padma    

An overcrowded ferry with up to 250 passengers onboard today sank in the Padma river in central Bangladesh, officials said. They said strong current in the turbulent river apparently upturned ferry which was carrying nearly double the number of passengers than its capacity this morning in Munshiganj area. “Two bodies were retrieved so far while some 45 passengers were rescued alive by vessels and speedboats which were plying nearby rescued immediately after the accident,” a police official told PTI from the scene by phone. vWccPMunshiganj Poli...

WB changes approach to tackling corruption in BD    

After the much-publicised Padma bridge episode, the World Bank (WB) has now realigned its approach to tackling corruption in projects. Previously, the multilateral lender would wash its hands off projects as soon as allegations of corruption surfaced. But now, in essence, it will carry on with the projects but will work with local authorities to identify and snuff out the issues. “When evidence of corruption comes to light, its response should not be to disengage, but to engage differently,” it said in its Country Assistance Strategy Progress Report. wb<...

Chinese Sinohydro hid info in Padma bid    

Chinese company Sinohydro, which might bag the contract for $780 million Padma river training, has admitted to the government that it is under temporary suspension by the World Bank over an accusation of fraud. The company held back this information while placing its financial bid for the river training work of the Padma Bridge Project on June 19. Backed by an influential political lobby, Sinohydro offered a price of around Tk 8,778 crore, about Tk 4,000 crore less than the sums quoted by the other two bidders—Korean Hyundai and Belgian Jan De Nul. padma bridge

UK involvement in arming Israel revealed

Recent documents reveal that the British government is participating in arming the Israeli army which has killed thousands of Palestinians since the beginning of its offensive against Gaza nearly a month ago, the British daily news website the Independent reported Friday. The documents, which were obtained by the Campaign Against Arms Trade (CAAT) under the Freedom of Information Act, showed that the weapons used by Israel against Gaza contain British-made components. They also revealed that arms export licences worth more than $70 million (£42 million) have been granted to 130 British defense manufacturers since 2010 to sell military equipment to Israel. [caption id="attachment_8486" align="alignleft" width="300"]

US Congress okays $ 225m for Israeli ‘Iron Dome’ system    

The US Congress approved $225 million in emergency funding for Israel’s “Iron Dome” missile defense system on Friday, sending the measure to President Barack Obama to be signed into law. The House of Representatives approved the funding by a 395-8 vote late on Friday, several hours after the Senate passed it unanimously. The money would be used to replenish Israel’s arsenal of Iron Dome interceptor missiles, many of which have been used to shoot down short-range rockets fired from Gaza into populated areas of Israel in the current three-week-long conflict. bomp-Gaza

WTO’s future in doubt after India blocks trade deal

The future of the World Trade Organisation (WTO) has been thrown into doubt after eleventh-hour attempts to salvage a global trade deal collapsed. Talks broke down after India’s refusal to back a deal unless it included concessions allowing developing countries freedom to subsidise and stockpile food. An agreement on the deal, centred on loosening global customs rules, had been reached in Bali in December, with a deadline of midnight on Thursday to ratify it. But it was scuppered after the WTO’s 160 members failed to reach agreement over India’s demands. 9th WTO O... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=
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