Economy

Gold prices decline by Tk 1,225 per bhori

  

PNS : Gold prices have dropped in Bangladesh for the second time in two weeks, in line with the international market rates.The revised price for gold will be effective from Thursday, said a press release of Bangladesh Jewellers Samity (BJS).Price of per bhori (11.664 grams) of 22-karat gold has dropped by Tk 1,225. It has now been fixed at Tk 41,757 against the previous rate of Tk 42,982, 21-karat at Tk 39658 against Tk 40,882, and 18-karat at Tk 33,900 against Tk...

BB unveils ‘cautionary’ monetary policy

  

PNS, Economic : Bangladesh Bank (BB) has unveiled a ‘cautionary’ monetary policy for the first half of the fiscal year 2015-16.BB governor Dr Atiur Rahman announced the monetary policy statement (MPS) at a press conference at the central bank headquarters in the capital at 11am on Thursday.Private sector credit will have space for 15 percent growth while 23.7 percent in public sector, Atiur Rahman said during unveiling the new monetary policy.PNS/Md.Saifullah/Mansur

Scheduled Banks to be opened July 15

  

PNS, Economic : Bangladesh Bank has ordered the authorities concerned to open country`s all scheduled banks for facilitating the RMG workers to provide their salaries and festival allowances.The Central Bank gave the order in a notification sent to all of the chief executives of scheduled banks on Sunday."In a bid to provide the salaries and festival allowances to all garment workers, the bank will be opened on July 15," the BB orders say.The Central Bank orders also added, "The...

BGMEA monitoring salary-allowance issue

  

PNS : Bangladesh Garment Manufacturers and Exporters Association (BGMEA) formed a committee to monitor salary-allowance payment issue of workers.The committee will work to ensure the salary before July 10 and bonus before July 14 of workers. The committee also will work to prevent any unrest in workers ahead of Eid-ul-Fitr. BGMEA vice-president (finance) Riaz Bin Mahmud was made the convener of the committee consisting seven regional areas. Besides, a crisis control room was...

NBR crosses revenue target

  

PNS, Economic : The National Board of Revenue (NBR) has crossed its revenue target in country`s 2014-15 fiscal year.NBR Chairman Nojibur Rahman has confirmed this to media while addressing a press conference on Wednesday, held in the capital."A total of Tk one lakh 36 thousand and 266 crore was earned as revenue in the recently ended fiscal year while the target was Tk one lakh 35 thousand and 28 crore to collect," the NBR Chairman added.PNS/Md.Saifullah/Mansur

Bangladesh is now lesser-middle income country: WB

  

PNS, Desk : Bangladesh has become a lower-middle income country (LMIC), meeting the World Bank`s requirements comfortably.Bangladesh`s per capita income was $1,080 in 2014 in line with the World Bank`s gross national income (GNI) -- higher than the Washington-based lender`s set threshold of $1,045.The World Bank in a posting on its website says it revises the income classification of the world`s economies every year on July 1 through calculation using the World Bank Atlas method....

Banks, stocks remain close

  

PNS : All scheduled banks have remained close today (Wednesday) for the bank holiday, marking the first day of the new 2015-16 financial year (FY16).There are no public transactions at the scheduled banks while Dhaka and Chittagong stock exchanges have also remained close.Banks will resume their usual business on Thursday when business hours will be 9:30am to 3:30pm for Ramadan.Dhaka and Chittagong stock exchanges will also resume share trading on Thursday and the trading hours...

WB to provide $473m in 2 projects

  

PNS : International financial institution World Bank (WB) is going to finance $473million in two separate projects for the development of financial sector and food security in Bangladesh.Following the issues, two separate agreements with the World Bank were signed at NEC conference room of Sher-e-Bangla Nagar in capital on Tuesday afternoon. The two projects are- Financial Sector Support Project (FSSP) and Bangladesh Urban Resilience Project (URP). One of the two agreements...

No finance in Bangladesh coal plant: French banks

  

PNS, Desk : Three French banks have said they will not invest in the Rampal Thermal Power Plant in Bangladesh, a Britain newspaper says in a report published on Thursday.The report says,"Six months earlier, two Norwegian pension funds pulled out their investments from India’s National Thermal Power Corporation that is building the project."During the recent visit of Indian prime minister Narendra Modi to Bangladesh on 6 June 2015, Modi endorsed the 1,320 MW Rampal coal- based thermal...

`Bangladesh now 44th economic country`

  

PNS : Planning Minister A H M Mustafa Kamal on Tuesday said that Bangladesh is now the 44th economic country in terms of GDP growth in the world.He disclosed this information while speaking at the ECNEC meeting, held in the capital, on the day."Bangladesh has gained more advancement in its economics in last couple of years," says the minister.Quoting statistics from country`s Gross Domestic Product (GDP) report and International Monetary Fund (IMF) reports, released recently, he...

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