1:30 pm - Monday December 11, 2017
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Challenges in achieving higher growth

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Bangladesh faces formidable challenges in moving to a higher growth path of 8 percent plus GDP to become a middle income country. The foremost challenge lies with the stagnant private investment followed by weak institutional capacity to implement development projects. To achieve its goal of middle-income country status by 2021 and to accelerate inclusive growth as well as reduce poverty and income inequality, the country will require a substantial increase in yearly investments from 29.0% of GDP in FY2015 to 34.4% of GDP by FY2020, said ICC Bangladesh President Mahbubur Rahman while presenting the Executive Board Report at the ICC Bangladesh Annual Council held in Dhaka on Thursday (25 May). Bangladesh economy embraces 2017 with some other challenges that include declining remittanc...

WB forecasts 6.4pc growth in 2018 for Bangladesh

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South Asia remains the fastest-growing region in the world with Bangladesh sustaining growth at 6.8 percent in 2017, gradually widening its lead relative to East Asia, according to a latest report of World Bank. Regional GDP growth of South Asia is expected to rise from 6.7 percent in 2016 to 6.8 percent in 2017, and 7.1 percent in 2018, according to the report. rmgbdThe economy of Bangladesh, the WB report said, has weathered global uncertainties well aided by strengthening investment and a recovery of exports. For Bangla...

Bangladesh calls Thailand for trade talks

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Bangladesh has called on the Thai government to schedule the next meeting of the two countries’ Joint Trade Committee for June, as there remain a wide range of trade issues to discuss, notably high Thai import duties on Bangladeshi products. The JTC was created in the 1990s to enhance bilateral trade. Its last meeting was in Bangkok in 2013, and there many issues that need to be followed up, said Saida Muna Tasneem, the Bangladeshi ambassador. The JTC, which is co-chaired by the commerce ministers of the two countries, was supposed to BD-Thai

ICA joins IFC, others to invest $30m in power plant

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IFC, a member of the World Bank Group, has brought in Japanese agency JICA to invest $30m in Sembcorp North-West Power Company, a joint venture of Sembcorp Utilities and Bangladesh‘s state-owned North-West Power Generation Company, that is building a 414MW dual-fuel combined-cycle power plant at Sirajganj, Bangladesh. The plant will significantly expand power-generation capacity in Bangladesh. JICAs $30 million is part of the total financing package of $ 165 million that includes a loan from IFCs own account as well as additional loans mobilized through partners. The total project cost is estimated at around $412 million. JICAs Senior Vice-President Kenichi Tomiyoshi said, “The project is expected to be one of the

10 more banks sign for green transformation fund

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Bangladesh Bank (BB) has signed separate agreements with 10 more private banks to facilitate fund for a long-term financing under the "Green Transformation Fund for Export-oriented Textile and Textile Products and Leather Manufacturing Industries". Under the deals, the ten banks - Al-Arafah Islami Bank Limited, Bank Asia Limited, Exim Bank bbLimited, Modhumoti Bank Limited, Mutual Trust Bank Limited, NCC Bank Limited, NRB Bank Limited, Dhaka Bank Limited, South Bangla Agriculture and Commerce Bank Limited and Trust Bank Limited - woul...

Islami Bank’s explanation on published reports

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Some recently published newspaper reports about Islami Bank Bangladesh Limited has drawn our attention. The fact and the Bank’s statements in this regard are as follows: Notice of a meeting of the Board of Directors of the Bank are provided to all directors local and foreign regular and timely complying to all the country's existing laws, regulatory rules and in accordance with the Bank's articles of association. As soon as giving of the notice, documents/memos regarding the meeting are provided to the directors via intra-web and are IBBL