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Daily Archives: February 9, 2017

UK to help Bangladesh boost jobs, trade: DFID The UK has announced an ‘Economic Development Strategy’ for 2017 to support developing countries including Bangladesh creates more jobs and increase international trade, the British High Commission in Dhaka says.  The DFID strategy sets out how investment in economic development would help developing nations “speed up their rate of economic growth, trade more and industrialise faster, and ultimately lift ... Read More »

Partex chairman’s son ,former RAJUK chairman sent to jail on graft charges

Partex Group Chairman MA Hashem’s son Showkat Aziz Russell and former RAJUK chairman Iqbal Uddin Chowdhury have landed in jail as the court denied bail to them in graft charges brought by the Anti-Corruption Commission (ACC), reports  On Thursday, the ACC arrested Russell from the capital’s Gulshan while Chowdhury from Paribagh. They were produced in the court and where ... Read More »

Arum farming gains momentum in Narsingdi on high demand in overseas

 M.A. Awal, Narsingdi Arum, locally known as Latiraj Kochu has created a new source for the people of Narsingdi as it is in high demand in overseas markets. Farmers have been cultivating in different areas of the district including of Kachikata, Khedirpur, har Manddaliya, Hatirdiya of Monohardi upazila, Shayednagar, Putia, Baroterkandi, Shadarchar, Bagabo, Brahmondi, Noadia, Lampur of Shibpur upazila and ... Read More »

IMF, Greece split on outlook for economy

WASHINGTON, Feb 8, 2017 (BSS/AFP) – The International Monetary Fund and Greece are at odds over the outlook for the troubled European nation’s economy, a split that likely will continue to hold up further IMF financing. Greece Finance Minister Euclid Tsakalotos said the IMF report on the economy, released Tuesday, “fails to do justice” to his country by underestimating growth ... Read More »

Oil rebound pulls equities in its wake

 LONDON, Feb 9, 2017 (AFP) : Oil prices held equity markets in their sway on Wednesday, with stocks perking up as prices for crude rebounded despite data showing abundant US production. Increasing uncertainty about France’s political outlook and fears of another debt crisis brewing in Greece also sent yields on European government debt higher and had equities struggling for much ... Read More »

Stocks close week up with higher transaction   Stocks finished the week on Thursday up with a recovery trend as the major price indices were found finishing upward with rising participation of investors particularly around large-cap stocks reflecting the daily turnover. The trade value at DSE increased to Taka 913.55 crore from last week Taka 745.99 crore while the trade volume also rose to 26.02 crore ... Read More »

Dead man gets loan from Krishi Bank! State-owned Bangladesh Krishi Bank (BKB) has been extending loans for the past four years to a company, in the favour of a man who died five years ago.  The bank’s documents even have the signature of the dead man — Jagannath Dey, who had been once the public works secretary. The bank’s Karwan Bazar branch carried out this surreptitious ... Read More »

Sonali, Brac Bank top client harassment complaint list The state-run Sonali Bank has topped the list on complaints of client harassment with Brac Bank in second position, says a Bangladesh Bank report.  The regulator’s governor Fazle Kabir revealed the report on client harassment prepared for the 2015-16 fiscal year on Tuesday. According to the report, a total of 4,530 clients of the country’s 48 banks filed formal ... Read More »

Govt mulls fresh plan to raise $5bn through sovereign bonds

A fresh plan to raise $5bn by issuing sovereign bonds is being mulled by the government.  Financial Times-Lexicon defines sovereign bonds as bonds issued by governments. They can be either local-currency-denominated or denominated in a foreign currency, reports Dhaka It was not the first time the government has coined the idea. Also Read- Muhith: Issuance of sovereign bond not now  ... Read More »

British MPs give Brexit approval

AFP . London             British MPs overwhelmingly backed a bill on Wednesday empowering Prime Minister Theresa May to start negotiations on leaving the European Union, bringing Brexit a significant step closer. Members of the House of Commons voted by 494 votes to 122 for a law enabling May to trigger Article 50 of the EU’s ... Read More »