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ADB lauds Bangladesh for steady growth, poverty reduction

Visiting Asian Development Bank (ADB) President Nakao praised Bangladesh for its strong economic growth in recent years, and achievements in poverty reduction and other areas of social development. The appreciation came when the visiting ADB President Nakao called on Prime Minister Sheikh Hasina and Finance Minister Abul Maal A.Muhith, and discussed the continuation of the four-decade partnership between Bangladesh and the Manila-based lender on Sunday, reports Xinhua. adb1ADB chief arrived in Dhaka on Saturday on a three-day visit to discuss more a...

Exports soar on World Cup related merchandise

Bangladesh's total goods export income in the first 11 months of the current fiscal year ending this month surged 12.56 percent year on year to 27.38 billion U.S. dollars thanks partly to Soccer World Cup 2014 in Brazil, an official said Sunday. The Export Promotion Bureau (EPB) official told Xinhua that the South Asian country earned a total of 27,376.57 million U.S. dollars from exports during July-May, compared to 24,321.90 million U.S. dollars in the same period a year earlier, reports Xinhua wc-14He said Bangladesh shipped goods worth 2,722.18 billion...

May exports up 7pc on garment sales

rmg Bangladesh's exports rose 7.22 percent in May from a year earlier to $2.7 billion, boosted by stronger clothing sales, the Export Promotion Bureau said on Sunday. In the first 11 months of this financial year, exports rose 12.56 percent to $27.37 billion from a year earlier. Garment exports surged nearly 15 percent to $22.2 billion in July-May. The garment industry, which supplies many Western brands such as Wal-Mart, Tesco and H&M, has been under the spotlight after a string of fatal factory accidents, including the collapse of a building hou...

Deep-sea port deal: Govt prefers China-led consortium  

At least five local and regional factors played a decisive role why Bangladesh changed its stand on signing the Sonadia deep-sea port agreement at the last minute before prime minister Sheikh Hasina set off for China last week. As a number of countries, including United Arab Emirate, India and Germany were vying to secure the multi-billion dollar contract for the deep-sea port, Dhaka opted for a consortium financing model led by China to accommodate others to construct the mega infrastructure, sources involved in the process said. china BDHasina’s sc...

Bangladesh allows transit of foodgrain to northeast India

In a highly significant move that was evidently cleared at the highest level, Bangladesh is allowing India to ferry foodgrain to the landlocked northeastern states using its territory and infrastructure. "To begin with, the Bangladesh government has under a special transit facility agreed to transport 10,000 tonnes of foodgrain for Tripura via its territory," Tripura's Principal Secretary (Food, Civil Supplies and Consumer Affairs) B.K. Roy told IANS. "After getting a green signal from the Bangladesh government, the FCI (Food Corporation of India) initiated the process of transporting foodgrain and essentials using the Ashuganj river port (in eastern Bangladesh) and the roadways connected to the northeastern states."

Imports surge over 14 pct to $ 30 bln   

Bangladesh’s imports surged 14.24 percent to over 30 billion U.S. dollars in the first 10 months of the current 2013-14 fiscal year ending this month, a central bank official said recently. The Bangladesh Bank (BB) official said the settlement of letters of credit (LCs), generally known as actual imports, stood at 30,593.74 million U.S. dollars in July-April compared to 26,780. 77 million in the same period a year earlier. Import orders, officially known as fresh opening of import LCs, also increased by 11.65 percent in the first 10 months of the current fiscal year (July 2013-June 2014), he said quoting provisional BB data.
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