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Global wealth flowing to the richest: Study    

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The richest one percent are likely to control more than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening global inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in Davos, Switzerland, reports The New York Times. rich-peopleUnless things change, by 2016 wealth of the top 1% will exceed that of the rest of the world. The 80 wealthiest people in the world altogether own $1.9 trillion, the re...

PM opens Bibiyana gas extension project

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Voicing her high hope to produce more than 20,000 megawatts of power by 2021, Prime Minister Sheikh Hasina today inaugurated the much-awaited Bibiyana Gas Field Extension Project and the newly constructed Bibiyana-Dhanua Gas Distribution Transmission line. Hasina formally opened the projects through unveiling the plaques at Nabiganj Bibiyana Gas Field Area in the district. [caption id="attachment_10836" align="alignleft" width="300"]hasina-habiganj-rally-wb3 Prime Minister Sheikh Hasina inaugurates various developme...

India jute millers mull anti-dumping case against imports from BD

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With the Bangladesh government announcing incentives for jute exports from that country to India, manufacturers here, under the aegis of the Indian Jute Mills Association (IJMA), are planning to file an anti-dumping case against such exports. Sanjay Kajaria, former chairman and committee member, IJMA, said the fact that the Bangladesh government has been subsiding exports to India was hurting the Indian market. jute goodsBetween April and August this year, the import of jute yarn and twine increased 65 per cent year-on-year, jute bags 28 per cent...

Samoa interested to explore business in Bangladesh

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lv345f345_54072161690c1Prime Minister of Samoa Tuilaepa Aiono Sailele Malielegaoi has expressed interest to explore possible cooperation with Bangladesh in the areas of agriculture and RMG.

He conveyed it when State Minister for Foreign Affairs M Shahriar Alam met him on the sidelines of the third UN Conference on Small Island Developing States held in Apia, the capital city of Samoa, on Wednesday, said a Foreign Ministry media release.

Forex reserve reaches all-time high $ 21b  

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The country’s foreign exchange reserve has hit a new height setting a record of over $21 billion riding on the positive remittance inflow and increased export earnings. Forex-res1The reserve stood at $ 21.04 billion at the end of the day on Monday, which is the highest in the country’s history, Bangladesh Bank General Manager AFM Asaduzzaman told UNB. He said the rising trend of foreign exchange reserve was due to the increasing trend of export earnings as well as firm management of reserve by the central bank alongside decline in import costs. ...

DSE not cent percent satisfied with budget

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DSE300Dhaka Stock Exchange (DSE) Chairman and retired judge Siddiqur Rahman has said they are not cent percent satisfied with the budget proposal placed for the 2014-2015 fiscal.

He came up with the comment while speaking at a budget-after-press conference at the DSE office in the city on Saturday noon.

The DSE chairman said, “We have got many, but we are not cent percent satisfied with the budget proposal. We wi...