DhakaTribune
Wednesday November 22, 2017 08:58 PM



  • Mandatory target for Green financing from 2015

    Mandatory target for Green financing from 2015

    The central bank’s chief was speaking at the inaugural function of “IDCOL Green Energy Expo 2014” yesterday in the capitalBangladesh Bank will make it mandatory from next year that the banks and financial institutions dedicate a part of their total loan disbursements for environment-friendly or green projects, said Governor Atiur Rahman.

    The central bank’s chief was speaking at the inaugural function of “IDCOL Green Energy Expo 2014” yesterday in the capital. 

    Mashiur Rahman, Adviser for Economic Affairs to Prime Minister, attended the ceremony as chief guest. 

  • Policy to export rice to Sri Lanka amended

    The country is likely to export first-ever coarse rice of 50,000 tonnes to Sri Lanka at a rate of $450 per tonne this monthThe government has amended the existing policy of coarse rice export to Sri Lanka incorporating a provision of government-to-government contract.   

    The Ministry of Commerce yesterday issued a gazette notification regarding the amendment to the rules of fragrant rice export.

    The country is likely to export first-ever coarse rice of 50,000 tonnes to Sri Lanka at a rate of $450 per tonne this month.

  • Remittance falls in October

    The inflow of remittance dropped by 24% in October compared to the previous month, said Bangladesh Bank data released yesterday. 

    Wage earners sent home $1bn in October compared to $1.3bn in September. 

    As Eid-ul-Azha was held in the first week of October, the previous month did see higher receipts from expatriates, said officials concerned. 

  • Mobile operators want power to block international calls

    Mobile phone operators have sought power to block international calls plus bank guaranty for securing their revenue share from international incoming call termination earnings. 

    In a letter addressed to the regulator recently, mobile operators have opted to have authority to block 95% incoming call in case the International Gateway (IGW) operators do not pay their dues.  

  • Capital machinery import sees sharp fall

    Capital machinery import sees sharp fall

    The import growth though increased year on year, it fell by 5.54% compared to $3.46bn in the previous monthThe country’s overall import expenditure experienced slower growth in September as capital machinery import witnessed a sharp 46% fall. 

    The total LC (letter of credit) settlement value rose by 9% to US$3.26bn in September compared to $2.9bn in the same period of last year. 

    The import growth though increased year on year, it fell by 5.54% compared to $3.46bn in the previous month. 

    It, however, registered 43.70% growth in August due to significant rise in capital machinery import. 

  • Betel leaf cultivation monitoring starts in a week

    Betel leaf cultivation monitoring starts in a week

    The ministry officials said all the betel leaf, vegetables and lemons will be packaged in the unit before shipmentThe betel leaf cultivation monitoring committee of agriculture ministry will start visiting betel leaf gardens in a week to ensure harmful bacteria-free production, official sources said.

    The first visits will be made to gardens, known as paan borouj, in Kushtia district. 

    The monitoring team will see cultivation process there and work out a long-term method for producing safe betel leaf in a bid to satisfy EU authorities. 

  • Stocks close week with volatility

    Shedding off 156 points in the last three sessions, market started going up in the morning but could not sustain the advance due to prolonging of the bearish spellStocks ended flat with volatility yesterday after three consecutive days of losses.

    The market opened higher strongly in the morning, rising more than 50 points in mid-session but late selling pressure wiped out most of the early gains.

     Dhaka Stock Exchange benchmark index, DSEX, inched almost 9 points or 0.2% higher to close at 5,025.

    The Shariah DSES index edged 2 points or 0.2% lower to 1,180. The DS30 index comprising blue chip issues was also marginally down 5 points or 0.3% to 1,866.

  • FX strategists: ECB can weaken euro but only via sovereign QE

    FX strategists: ECB can weaken euro but only via sovereign QE

    The dollar has surged against every major currency in recent months The European Central Bank can still weaken the euro but only by buying sovereign bonds of the 18 countries that use the single currency, according to a majority of foreign exchange strategists polled by Reuters.

    The euro EUR has already weakened 9% against the dollar since the start of this year with most of the fall coming after the ECB announced measures in September aimed at boosting inflation and growth, including purchases of secured debt.

  • ECB to wait for stimulus to sink in, Draghi style in limelight

    ECB to wait for stimulus to sink in, Draghi style in limelight

    The November policy meeting takes place against a backdrop of meager growth prospects for the euro zone The European Central Bank is set to stick to the policy path laid out over the summer when it meets yesterday, waiting for its stimulus to unfold before considering further steps.

    The November policy meeting takes place against a backdrop of meager growth prospects for the euro zone and mounting discomfort among Governing Council members over ECB President Mario Draghi’s leadership style.

  • Companies sign secret tax deals with Luxembourg

    The companies appear to have channeled hundreds of billions of dollars through Luxembourg and saved billions of dollars in taxesMore than 300 companies, including PepsiCo Inc, AIG Inc and Deutsche Bank AG, secured secret deals from Luxembourg to slash their tax bills, the International Consortium of Investigative Journalists (ICIJ) reported, quoting leaked documents.

    The companies appear to have channeled hundreds of billions of dollars through Luxembourg and saved billions of dollars in taxes, the group of investigative journalists said, based on a review of nearly 28,000 pages of confidential documents.

  • Unilever named one of the top employers

    Unilever has recently been named among the top employers among the FMCG (fast moving consumer
    goods) companies, according to a new study from social networking site LinkedIn.

    “This result represents a powerful, independent indicator of the high regard people have for Unilever as an employer around the world,” said Unilever’s chief HR Officer, Doug Baillie. 

  • Carmudi to serve 18 more car showrooms

    Carmudi’s online marketing revolution has recently been availed by 18 more car showrooms.  Showrooms include Rangs, Bronze Limited, Progress Motors, Car Choice and Anwar Car Company, said Ashiqur Rahman, the country manager of Carmudi Bangladesh. 

  • India, Nepal hold negotiations for 900 MW power project

    India and Nepal are holding negotiations to sign a second Project Development Agreement (PDA) to generate hydorelectric power in the Himalayan nation endowed with rich water resources.

    The negotiations for the 900 MW Arun-III project between Investment Board Nepal (IBN) and Satluj Jal Vidyut Nigam Ltd, India, which began here Tuesday, continued Wednesday, Indian Embassy sources said, adding, they are set to continue Thursday as well.

  • Bill Gross: We are at such a moment of uncertainty

    ‘Prices go up, but not the right prices,’ Gross wroteFamed bond investor Bill Gross on Monday warned that deflation remained a growing possibility despite aggressive monetary policies by central banks around the world.

    In his second investment outlook letter since joining Janus Capital Group Inc, Gross said history showed that economies experience periods of inflation and deflation, and both “are the enemies of stability and growth.”

  • For India, China-backed lender may be answer to coal investment

    For India, China-backed lender may be answer to coal investment

    The Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blockedIndia is hoping a new China-backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending.

    A senior Indian official told Reuters the Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blocked.

  • EU’s finance chief to unveil capital market plan in 2015

    The EU’s new financial services chief pledged yesterday to set out his plans for a pan-European capital market by the middle of next year, aiming to reduce companies’ reliance on banks and help revive the bloc’s fragile economy.

    Jonathan Hill, the European Commissioner for financial services, said he was seeking to create an integrated capital market over the next fives years and would develop a plan by next summer following a public consultation.

  • Theft of transformers brings agony for thousands

    Cultivation of paddy on 300 acres of land is affected as irrigation pumps have remained inoperative Thousands of people are suffering due to lack of power supply, which results from theft of many transformers at some parts of Sripur upazila in Gazipur.

    Over 300 acres of paddy and vegetables are affected since irrigation pumps have remained inoperative.

    School and college students are also having their study hampered as darkness engulfs the areas where power transformers are stolen and not yet installed.

  • Two secretaries retire to escape punishment

    Neazuddin and Amir obtained freedom fighter certificates through fraudulenceTwo top bureaucrats of public administration yesterday went into voluntary retirement – at a time when the government was preparing to initiate departmental proceedings against them for obtaining freedom fighter certificates from the Liberation War Ministry through fraudulence.

    Health Secretary Md Neazuddin Miah and Secretary of the Public Service Commission AKM Amir Hossain submitted letters to the public administration secretary, expressing their desire to go into voluntary retirement.

  • Plaintiff urges PM to ensure security

    The case is now under trial at the court of Dhaka Fifth Additional Metropolitan Sessions Judge while the next hearing is scheduled for November 19Shefali Alam, the plaintiff in Awami League leader Khairul Alam Molla killing case, has called on the prime minister to ensure security for herself and her two children. 

    Speaking to the Dhaka Tribune yesterday, she alleged that she had been living with sheer uncertainty after facing constant threats from the accused.

  • Blackout investigation report ‘blacked out’

    The committee had also been trying to find out why the system frequency of the national grid declined on that dayA day after a ministry probe body was supposed to submit a report on the November 1 countrywide power outage, State Minister for Power Nasrul Hamid said yesterday that they had not yet found anything substantial.

    Only on Wednesday, several members of the probe committee told the Dhaka Tribune that they had found some key issues that could have led to the blackout.

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