Oct 25

Net investment in savings instruments rise by 225%

In July-September period 

Staff Correspondent: The net investment in the national savings certificates (NSCs) and bonds increased by 225.20 per cent in the first quarter (Q1) of the financial year (FY) 2014-15 as clients continued to invest heavily in the government approved securities due to low bank deposit rates and sluggish business climate.
The net investment in the savings instruments increased to Tk 68.21 billion in the July-September period of the FY 15 from Tk 20.97 billion in the same period a financial year ago, according to the Directorate of National Savings (DNS) statistics.
The savings instruments worth Tk 98.55 billion were sold through banks, national savings bureaus and post offices in the first three months of the FY15 whereas the sales of the NSCs in the same period of the FY14 were Tk 58.94 billion, the official data showed.

Permanent link to this article: http://www.daily-industry.com/?p=1816

Oct 25

Ganges Barrage to cut salinity in coastal area

Staff Correspondent: Construction of the proposed Ganges Barrage will help cut salinity intrusion into the country’s coastal region, said Water Resources Minister Barrister Anisul Islam Mahmud yesterday.
“Salinity intrusion into the coastal region will come down once the Ganges Barrage is built. It’ll also help cast a tremendous positive impact on food grain production,” he told the inaugural session of a two-day consultation at the city’s BRAC Centre Inn in the morning. Saltwater intrusion is the movement of saline water into freshwater aquifers, which can lead to the contamination of drinking water sources and other consequences. Anisul Islam said the government has already finalised a feasibility study on the Ganges Barrage. “If the Ganges Barrage is constructed, the irrigation facility will be extended in the coastal region and it will help increase the water flow during the dry reason, which will help cut salinity intrusion,” he added. Bangladesh Water Partnership (BWP) and Institute of Water Modelling (IWM) in association with WMO/GWP Associated Proramme on Flood Management (APFM) organised the national consultation, titled ‘Integrated flood management with focus on coastal zones of Bangladesh: Development of a pilot project on coastal flood management in selected areas of Bangladesh’.

Permanent link to this article: http://www.daily-industry.com/?p=1814

Oct 25

PM’s UAE visit to bring new hope

Untitled-3Staff Correspondent: Foreign Minister AH Mahmood Ali yesterday said that the Prime Minister Sheikh Hasina’s official visit to the United Arab Emirates (UAE) from October 25 to 27 would usher a new hope of further widening the areas of cooperation between the two countries.
The main objective of Prime Minister’s visit to the Arab state is to further strengthening the existing friendly relation between the two countries, protecting Bangladesh’s interest on different bilateral and multilateral sectors and identifying new areas of cooperation, he said.

Permanent link to this article: http://www.daily-industry.com/?p=1811

Oct 25

Bangladesh with Asian Infrastructure Investment Bank

22 countries signed MoU yesterday
Headquarters will be in Beijing

Special Correspondent: Bangladesh and 21 other Asian countries yesterday signed the inter-governmental Memorandum of Understanding (MoU) to establish the Asian Infrastructure Investment Bank (AIIB). Representatives of the 22 nations signed the MoU at the Great Hall of the People in the heart of Beijing. Bangladesh was represented by state minister for finance and planning MA Mannan, who signed the MoU for the country. The new Bank would fund the construction of roads, railways, power plants and telecommunications networks in Asia to keep the region’s economy growing. The Chinese government already allocated 2.8
hectares of land in Beijing and provided $2.8 billion to construct the AIIB headquarters there.

Permanent link to this article: http://www.daily-industry.com/?p=1809

Oct 25

Bangladeshi shot dead by BSF

C’nawabganj Correspondent: A Bangladeshi national was shot to death by members of Indian Border Security Force (BSF) along Kiranganj frontier in Shibganj upazila early Friday. The deceased was identified as Soleman Ali, 25, son of Ejabul Haque of Jaminpur village in the upazila. Commanding officer of BGB-9 Battalion Lieutenant Colonel Abu Jafar Sheikh Mohammad Bazlul Haque said BSF members from Churi Anantapur camp opened fire on Soleman when he went to the bordering area around 5am, leaving him dead on the spot.
Later, his body was found near the pillar No. 179 of the bordering area early in the morning.
A flag meeting was held between BGB and BSF along the border in the afternoon over the incident. When the Bangladeshi border guards strongly protested the killing of the youth, their Indian counterparts expressed regret for the incident. BSF also assured BGB of taking action against those responsible after investigation.

Permanent link to this article: http://www.daily-industry.com/?p=1807

Oct 25

BNP’s Jamat alliance an electoral understanding

Khaleda tells Times of India

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Oct 25

Nahid underscores for world-standard education

Untitled-1Brahmanbaria Correspondent: Education Minister Nurul Islam Nahid yesterday underscored the need for ensuring world-standard education in the country for which the present government is working relentlessly. “We don’t want traditional education, we want to ensure world-standard education, skill, knowledge and technology,” he said while inaugurating “Sheikh Hasina Academic Building” in Brahmanbaria Government College here.
Terming the present government led by Prime Minister Sheikh Hasina as education-friendly one, the minister said the government, in the meantime, brought about a radical change in education sector to ensure its overall quality and infrastructural development. He said “We must educate the new generation to groom them as worthy citizens of modern Bangladesh.”
Nahid stressed the need for developing moral values amongst the new generation side by side with the digitization of education.
Chairman of the Parliamentary Standing Committee on Chittagong Hill Tracts (CHT) Affairs RAM Ubaidul Muktadir Chowdhury, Secretary of Education Ministry Md Nazrul Islam Khan, Vice-Chancellor of National University Prof Dr Harun-Or Rashid, Director General (DG) of Secondary and Higher Secondary Education Directorate Prof Fahima Khatun and Principal of the College Prof Mohammad Hanif spoke on the occasion.

Permanent link to this article: http://www.daily-industry.com/?p=1801

Oct 25

Global economic recovery begins today in city

Staff Correspondent: A two-day international conference titled ‘Global Economic Recovery: Asian Perspective’ begins here today to discuss Asian economic growth, trade and investment. The National Committee of International Chamber of Commerce (ICC), the world business organisation, will host the event at Bangabandhu International Conference and Sonargaon Hotel, marking the 20 years of ICC’s presence in the country.
The conference is expected to bring together 500 delegates representing ministers, industry and business leaders, experts, economists, ICC leaders and academics from home and abroad, said Mahbubur Rahman, president of International Chamber of Commerce, Bangladesh (ICCB).

Permanent link to this article: http://www.daily-industry.com/?p=1799

Oct 25

WHO revises global tuberculosis estimate up by 500,000

International Desk: The World Health Organization has revised up its estimate of how many people have tuberculosis by almost 500,000. In 2013 nine million people had developed TB around the world, up from 8.6 million in 2012, the WHO said, reports BBC. However, the number of people dying from TB continued to decline, it added. TB campaigners said that one of the biggest problems in tackling the deadly disease was gauging how many people were affected. About 1.5 million people had died in 2013 from TB, including 360,000 people who had been HIV positive,  the WHO said in its Global Tuberculosis Report 2014. And in 2012, there had been 1.3 million tuberculosis deaths.
The WHO said its report underlined that a “staggering number of lives are being lost to a curable disease and confirms that TB is the second biggest killer disease from a single infectious agent”.

Permanent link to this article: http://www.daily-industry.com/?p=1797

Oct 25

Asia economic growth to languish as China slows

International Desk: Emerging Asia will contribute less to the global economy in 2015 than was expected just months ago as a slowdown in China drags on growth in the region, partially offset by acceleration in the United States, Reuters polls showed.
Until recently the primary engine of global growth, most Asian economies have slowed, hamstrung by erratic exports, sluggish domestic demand, capital outflows and political and policy uncertainty. At the same time, many of Asia’s major trading partners in the West are grappling with disinflation and weak demand, making it difficult for central banks there to move away from aggressive monetary stimulus.
Estimates for 2015 GDP growth were either cut or left unchanged for nine Asian countries in the latest poll of over 200 economists conducted over the past week, with Hong Kong, Indonesia and Singapore bearing the brunt of the downgrades.
India, Malaysia and Thailand were the few economies for which economists made slight upgrades to growth projections.

Permanent link to this article: http://www.daily-industry.com/?p=1795

Oct 25

UNDP Asst Secy General Neill due today

Industry Report: Michael O’Neill, Assistant Secretary General and Director at the Bureau of External Relations and Advocacy, UNDP, arrive here today on a three-day visit.
Since he has assumed office, this is going to be O’Neill’s first visit to Bangladesh, a country regarded as the ‘role model for UN’ for its excellent development performance and success in poverty alleviation.  O’Neill is scheduled to meet senior government officials, development partners and civil society members. He will also participate in a thematic roundtable discussion, to be jointly  organised by the Economic Relations Division, the government of Bangladesh and UNDP Bangladesh.
During his visit, O’Neill will look at projects supported by UNDP — both in and outside Dhaka, that focus on climate resilience, poverty reduction and public service delivery.
O’Neill will travel down to Barguna district and speak with communities involved in the projects there to get an understanding of how these have helped communities reduce the vulnerability to climate change and also adapt to its effects. O’Neill will leave Dhaka on October 28.

Permanent link to this article: http://www.daily-industry.com/?p=1793

Oct 24

Wages of garment workers increase by 300% in 5 years

Staff Correspondent: The garment workers of the country are getting 300 percent higher wages compared to that they used to get in five years ago, Commerce Minister Tofail Ahmed told journalists yesterday.
“This had happened only because of the strong leadership of Prime Minister Sheikh Hasina who had increased the minimum wages of the garment workers twice in the past five years,” the commerce minister said at the press conference on the Sustainability Compact Follow up meeting, held on October 20 in Brussels, the capital city of Belgium.

Permanent link to this article: http://www.daily-industry.com/?p=1789

Oct 24

Foul players try to stop WB’s Padma funding

Untitled-4Staff Correspondent: Prime Minister Sheikh Hasina has alleged ‘foul play by vested quarters’ to stop the World Bank funding the Padma bridge project.  She says the purpose of that ‘certain quarter’ was similar to violent anti-government agitations before the parliamentary election in January. Hasina said, “The Padma bridge construction cost shot up due to the inclusion of rail lines. The World Bank came forward when the cost rose and we went ahead to take their assistance. “Later, the vested quarters tried to thwart the WB financing by raising various allegations like corruption.” The Washington-based global lender suspended its $1.2 billion fund raising suspicion of corruption allegations involving high government officials. After much furore, Bangladesh withdrew its funding request in January last year and decided to bridge the Padma with domestic funds. “It was due to some other reasons that the World Bank suspended funds, there was no corruption,” the prime minister said. “No-one could prove anything.”

Permanent link to this article: http://www.daily-industry.com/?p=1786

Oct 24

40,000 Bangladeshi to get amnesty in Bahrain

Diplomatic Correspondent: About 40,000 illegal Bangladesh expats in Bahrain are going to get amnesty very soon. The island Gulf country neither recruited fresh manpower from Bangladesh for about 12 year nor ousted any foreign workers including Bangladeshis during. As a result, maximum Bangladeshi expats in Bahrain become illegal. Newly appointed Bangladesh Ambassador to Bahrain Major Gen. K M Mominur Rahman told that the King of the country has in principal agreed to announce amnesty for the Bangladeshi workers  those are working last few years, while he presented credential.
According to the statistics of Labour Market Regulatory Authority (LMRA), the number of illegal Bangladeshi expats in Bahrain is 36,572. They have not been able to change employer nor back to country due to lacking of amnesty or legalisation.

Permanent link to this article: http://www.daily-industry.com/?p=1784

Oct 24

Stocks close at red zone

DSE turnover Tk 527cr, CSE Tk 50cr

Staff Correspondent: Key share price index in the country’s twin bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) — end week with loss on Thursday, the last trading day of the week. The DSE benchmark index, DSEX lost 16.04 points or 0.31 percent to reach 5154.10 at the close of trading on Thursday. Of the 303 issues traded, 118 gained, 139 declined and 46 remained unchanged. Shares worth Tk 527.55 crore changed hands at the DSE on Thursday. The day’s top 10 losers at the DSE were Rahim Textile,
EBL NRB Mutual Fund, Kay and Que, Agni Systems, RSRM Steel, Shurwid, Reliance Insurance, SP Ceramics, 3rd ICB Mutual Fund, and Familytex.
The CSE key index, CSCX lost 36.76 points to reach 9677.86 at the close on Thursday. Of the 221 issues traded, 62 advanced, 134 suffered loss and 25 remained unchanged.
The value of the traded issues was Tk 50.59 crore at the CSE on the day.

Permanent link to this article: http://www.daily-industry.com/?p=1782

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