Oct 26

City Bank’s Nostro account may shut

Special Correspondent: Loss-incurring City Bank Limited (CBL) Money Transfer Sdn. Bhd., a subsidiary of Bangladeshi The City Bank in Malaysia, has clearly involved with money laundering. City Bank has transferred Malaysian Ringgit (RM) 2.8 million for purchasing ownership of formerly Rush Money Express, an almost perishing money transfer company with a loss of RM 2.29 million.

Permanent link to this article: http://www.daily-industry.com/?p=1844

Oct 31

Habitat builds houses for extreme poor in Kapashia

Untitled-1Kapashia Correspondent: Habitat for Humanity International (Bangladesh) HRC, Kaligonj inaugurated a project for building new houses, tube wells, water preservers and hiegenic toilets for the extreme poor people of Kapashia in order to observe World Habitat Day 2014 under the slogan ‘Nirman Kori Bari, Gori Shomaj O Jagai Asha’ (Build houses, Build community and raise hope).
The inauguration was presided over  by UP Chairman Tyab Ali Bhuiyan at a poor resident of the village Defulia of Chadpur union under the upazilla, Shirin Sultana’s house, where Habitat HRC Co-ordinator Md. Lutfar Rahman, Community Mobilizer Selina Akter Liza, UP Member Bilkis Begum, Kanchan Mala, Rehana Begum, Mohammed Ali, Akram Hossain, Social Worker Gias Uddin, Village Police Hafiz Uddin.

Permanent link to this article: http://www.daily-industry.com/?p=2007

Oct 31

Fire at BSEC building in Dhaka

Fire at BSEC building in DhakaA fire broke out in the Bangladesh Steel and Engineering Corporation (BSEC) building in Dhaka’s Kawran Bazar this morning. No casualties were reported.
Gusts of black smokes were seen coming out from windows of the top floors of the building that houses several offices including those of television channels Rtv and ntv and the online section of Amar Desh.
A total of 20 fire-fighting units were trying to douse the flames when, Md Jibon Mia, operator at the headquarters of Bangladesh Fire Service and Civil Defence, told The Daily Star Online around 12:45pm. “The fire broke out around 11:48am.”
The fire could have been originated from a short circuit at the warehouse of Amar Desh on the 11th floor, our correspondent reports quoting fire fighters.
The transmission of Rtv and ntv stopped around 12:56pm following the incident.
Khirul Anwar Mukul, head of ntv news, claimed that the fire originated from Amar Desh office. “Our employees managed to get away into safety.”
The online office of Amar Desh was supposed to move to Niketan in the capital this morning, said Mahmuda Dolly, a senior reporter at the online section of Amar Desh. “But, it was not possible because of the fire.”
The senior reporter claimed the fire was “a sabotage” attempt to “further damage Amar Desh.”
Volunteers of the fire service and fire fighters were working to douse the flames. They were using a ladder to reach out to the top floors of the building. An ambulance was stationed nearby.

Permanent link to this article: http://www.daily-industry.com/?p=2003

Oct 31

Asian economy going to strong

IMF expects 5.5% GDP in 2014 and 5.6% in ‘15

Special Correspondent: Asia’s growth has been disappointing in the first half of 2014, but the economic outlook for the region remains solid. GDP growth is expected to reach 5.5 percent in 2014, ticking up slightly to 5.6 percent in 2015, say IMF economists in the latest Asia and Pacific Regional Economic Outlook Update. The region’s economies should benefit from the ongoing global economic recovery, and still supportive financial conditions and policies. The modest global recovery will provide a lift to Asia’s exports, while relatively low interest rates, strong credit growth, and high asset prices will continue to support domestic demand, say the report’s authors. While the likelihood of sluggish global growth in advanced economies and emerging markets has increased, valuations in financial markets have been further stretched, reflecting still-abundant global liquidity and greater risk appetite by investors.

Permanent link to this article: http://www.daily-industry.com/?p=1999

Oct 31

Now Jamat financer Mir Quashem Ali

War crimes verdict

Staff Correspondent: After six months of closing the trial, the International Crimes Tribunal-2 on Sunday set to pronounce its judgment on war crimes accused Mir Quasem Ali, a policymaker and financer of Jamaat-e Islami, on November 2.
A two-member bench, headed by Justice Mozibur Rahman Miah, fixed the date.
Passing the order in presence of the prosecution and the defence lawyers, the tribunal also asked the jail authorities through its registrar to produce the detained accused before it by 10 am on Sunday.

Permanent link to this article: http://www.daily-industry.com/?p=1996

Oct 31

Cash incentive for all RMG exporters: BB

Staff Correspondent: Bangladesh Bank (BB) yesterday said that all readymade garment (RMG) exporters outside the Export Promotion Zones (EPZs) are entailed to get additional cash incentive at the rate of 0.25 percent.
The central bank in a circular issued Wednesday said the apparel exporters including those are enjoying tariff bonds and duty drawback facilities will get the cash incentive as per its earlier directive issued on June 8 this year.
The circular was issued to remove confusion that had been appeared in the garment sector about the RMG exporters eligible for the incentive, a BB official told yesterday.

Permanent link to this article: http://www.daily-industry.com/?p=1994

Oct 31

Three lakh new subscribers to get electricity

Staff Correspondent: Some three lakh subscribers will get power connections in 21 districts under a new project involving Tk 832 crore. The project titled “Strengthening of power distribution system” will cover 41 upazilas of the districts in the country’s southwestern region.

Permanent link to this article: http://www.daily-industry.com/?p=1992

Oct 31

UAE visit to boost ties with ME: PM

Staff Correspondent: Terming her recent UAE visit as a very successful one, Prime Minister Sheikh Hasina yesterday said the visit is a step toward further boosting ties with countries of the Middle East in the areas of trade, investment and businesses.  “The visit has created new hope to open up labour market for Bangladeshis as well as strengthen ties with the Middle East counties in the areas of trade, investment and business,” she said at a press conference at her official residence Gonobhaban yesterday afternoon. Sheikh Hasina said she had a very constructive discussion with leaders of the UAE on various bilateral, regional and international issues which has created opportunities for the two countries to work together on those issues.

Permanent link to this article: http://www.daily-industry.com/?p=1990

Oct 31

US lauds Bangladesh’s global and regional role

Staff Correspondent: The US point person for South Asia and other senior officials have lauded Bangladesh’s role in promoting international peace and security as well as regional integration. They also appreciated Bangladesh’s own socio-economic development during the just-concluded partnership dialogue in Washington. Foreign Secretary M Shahidul Haque led Bangladesh side while US Under-Secretary of State for Political Affairs Wendy Sherman led her side.
At the end of the dialogue, a joint statement was issued where both sides agreed to move forward with newer engagements.

On the sidelines, the foreign ministry said secretary Haque met senior US officials including the Assistant Secretary of State Nisha Desai Biswal, and Deputy United States Trade Representative Ambassador Robert Holleyman.
He briefed them on the progress concerning workers’ rights and workplace safety in the RMG sector in Bangladesh. The US side acknowledged and appreciated the progress made by the government so far in ensuring workers’ rights and workplace safety, and hoped that the progress would continue with “the same level of intensity”.

Permanent link to this article: http://www.daily-industry.com/?p=1988

Oct 31

Bangladesh on way to be middle-income country

JU Correspondent: State Minister for Finance MA Mannan, said that the initiative of the government to make Bangladesh middle-income country by 2021 is being implemented gradually.

He made the observation while addressing a freshers’ reception as the chief guest at the seminar room of Zahir Raihan auditorium on the Jahangirnagar University (JU) campus last night organized by Sylhet Divisional Students’ Welfare Association (SDSWA). The minister said, ‘Bangladesh will be in the row of the developed countries soon as the government is working relentlessly to achieve the desired economic growth and prosperity’. The people of the country also believe that the government would be successful in making Bangladesh middle income country, he added. Elaborating success of the government in the education sector MA Mannan said, ‘Education opens the door of people’s mind while the people could come forward to enrich themselves with the light of education’. He promised to give a financial assistance to JU for infrastructural development.Presided over by Professor of JU History department Lutful Hai Zami, JU Vice-Chancellor Professor Dr. Farzana Islam addressed the function as the guest of honor.
Professor Farzana Islam urged the students to pursue education and stay away from drug. JU Proctor Professor Tapan Kumer Shaha, Director of Teacher-Student Center Professor Khabir Uddin, Assistant Professor of Archaeology department Jayanta Shingha Ray, Assistant Professor of Philosophy department Syed Nizar Alam, President of Jalalabad Association (Dhaka) Tofayel Sami, noted playwright Shakur Mazid and Musician Shubra Deb were present at the function among others.
Later, a souvenir titled ‘Proyas’ was unveiled followed by a cultural function.

Permanent link to this article: http://www.daily-industry.com/?p=1986

Oct 31

JS body seeks stern action against BASIC Bank corruption

Staff Correspondent: The Parliamentary Standing Committee on Public Undertakings yesterday asked the concerned authorities to take “exemplary” punitive actions against the perpetrators of corruption in the state-owned Basic Bank in line with the investigation report. “The committee also called for a review why the Anti Corruption Commission did not take any action against the BASIC Bank Board of Directors even after Bangladesh Bank informed them long ago about the irregularities and corruption there,” a parliamentary secretariat handout said referring to the committee’s resolution.

The committee also suggested appointment of capable, professional and transparent personalities to the board of directors of all public and private banks of the country.  The recommendations were made at the 9th meeting of the committee, held at the Jatiya Sangsad Bhaban with its chairman Shawkat Ali in the chair. The members of the committee also discussed overall functions of the Bangladesh Bank (BB). They expressed satisfaction over the activities of the BB and suggested for resolving audit objections of the central bank through discussion with the Parliamentary Standing Committee on Public Accounts. Members of the committee Muhibur Rahman Manik, M Nurul Islam Sujan, M Abdul Wadud and Abdul Rouf attended the meeting. Bangladesh Bank Governor, Secretary of Bank and Financial Institution Division and BASIC Bank Chairman were also present.

Permanent link to this article: http://www.daily-industry.com/?p=1984

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