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regulators

Mobile phones to move money

Bangladesh, home to the world’s second-largest mobile money company, is moving to consolidate the industry as it expands financial services to the rural poor. The central bank has proposed channeling all mobile transactions through bank-led companies with a minimum capital of 1 billion taka ($13 million), said Bangladesh Bank Governor Atiur Rahman. This would force smaller providers to merge and link up with banks. mobile-money“There are a lot of entrepreneurs who could never be reached by conventional banks,” Rahman said in an interview in...

BEZA seeks funding for spl economic zone

The Bangladesh Economic Zone Authority (BEZA) has sought funding from the finance division of the Bangladeshi government to set up a special economic zone at Anwara upazilla in the port city of Chittagong to attract Chinese investment. gov1The BEZA has recently sent a proposal to the finance ministry seeking over 420 crore taka interest free fund for acquisition of land for the Chinese Economic and Industrial Zone (CEIZ).
Paban Chowdhury, BEZA executive chairman, told Xinhua: "We have sent a letter req...

India to export cotton fabrics to Bangladesh

The Cotton Textiles Exports Promotion Council (TEXPROCIL) has welcomed the inclusion of exports of cotton fabrics – both woven and knitted - to Bangladesh and Sri Lanka under the Merchandise Exports from India Scheme (MEIS) vide Public Notice No. 27 dated July 14, 2015 issued by the Director General of Foreign Trade (DGFT). [caption id="attachment_18353" align="alignright" width="432"]R.K.Dalmia – Chairman – TEXPROCIL R.K.Dalmia – Chairman – TEXPROCIL[/caption] This is a very positive step taken by the Governm...

RMG export growth to new markets declines

According to sources, the FE says, Bangladeshi apparel is losing out in emerging markets to competitors like Vietnam, Cambodia, India and Pakistan, as many buyers cut back orders due to political unrest, safety and other compliance issues in the country.According to a report in Bangladesh’s Financial Express (FE) this morning, the country’s ready-made garments (RMG) exports to non-traditional markets have recorded just marginal growth in the fiscal year just ended (2014-15). Insiders are said to consider this alarming news for the country’s apparel sector. rmg

Bangladesh hopes green means go

Like Thailand, Bangladesh is suffering from prolonged political unrest and subdued economic activity. For a time earlier this year it seemed Moody’s Investor Service might downgrade the country’s credit rating due to the ongoing tensions on the ground, although in the end it held off from doing so. green goOpposition party-led strikes have weighed on the economy, prompting the International Monetary Fund in March to clip its growth forecast for the fiscal year to June-end to 6% from 6.4%. The Bangladeshi government had been targeting a 7.3% growth ...

Japanese firms expanding their reach in South Asia

Bangladesh, the world’s eighth most populous country with approximately 158 million people, is witnessing an economic growth rate surpassing five percent for the past ten years. The economy is expected to continue to grow and present many business opportunities. In one of the office buildings at Gulshan crossing in central Dhaka, the work is on for construction of a new branch office for Toshiba, the first Japanese electronics company to have a branch in Bangladesh. Toshiba-HQ-bldg1Sayaka Kanagawa, who joined Toshiba in 2008, has...
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