Bangladesh News

Bangladesh News

Inflation declines to 7.39pc in Aug, food inflation up by 2.0pc 0

BangladeshSource: The Financial Express

The country’s rate of inflation edged down to 7.39 per cent in August last, which was measured on point-to-point basis under the new base year of 2005-06.

But the food inflation increased by more than 2.0 per cent measured on month-to-month basis (July to August this year). More…

3G auction: Telecom industry welcomes Supreme Court decision 0

PPRA rules at crossroads with deadlines for hiring PTA chief, 3G auction.Source: The Express Tribune

With the government once again facing the task of appointing the leadership for the telecom sector’s regulatory body, the industry – despite keeping its fingers crossed on whether the ambitious target can be achieved – is hopeful that the latest ruling by the apex court is a step in the right direction.

The Supreme Court of Pakistan, on Monday, directed the government to appoint members and chairman of the Pakistan Telecommunication Authority (PTA) within 10 days. More…

Per Capita annual income crosses $1000 0

Dhaka, BangladeshSource:

Capping its stellar performance in the social sector, Bangladesh has achieved another economic milestone.

Its per capita income has crossed $1,000-mark as the Bangladesh Bureau of Statistics (BBS) started calculating the Gross Domestic Product (GDP) taking 2005-06 as the base year. More…

Remittance inflow falls by 18.62pc in August 0

MoneySource: The Financial Express

The flow of inward remittances fell by 18.62 per cent in August, the month of the celebration of Eid-ul-Fitr festival, with the period witnessing fewer working days, officials said Monday.

Bangladeshi nationals working abroad sent US$ 1.008 billion on 17 working days of August last. The amount was lower by $230.76 million than the remittance-earning in the previous month. More…

Private credit growth lowest in 13 years 0

Taka notesSource: The Daily Star

Private sector credit grew by only 11.04 percent last fiscal year — the lowest in 13 years — due to low investment as uncertainty ahead of the national polls has dented investor confidence, bankers said.
Extreme caution adopted by banks in the backdrop of various scams in recent times also squeezed credits, they said. More…

Four operators likely to get 3G licences 0

Telecoms LogosSource: The Daily Star

Four mobile phone operators — Grameenphone, Banglalink, Robi and Airtel — are going to participate in the 3G auction scheduled for September 8.

The four operators Thursday submitted their bid earnest money to participate in the 3G auction.
The oldest operator Citycell did not deposit the earnest money and missed the deadline. More…

BD exports set to face toughest competition 0

Workers iron clothes at a garment factory in Gazipur, Bangladesh.Source: The Financial Express

Bangladesh’s exports, mainly the ready-made garment (RMG), is set to face the toughest competition amid weakening of currencies of major competitors in global market as the development would erode its competitiveness significantly.

This warning came from the country’s leading economists. More…

SME credit disbursement increases 0

A money vendor displays crisp Bangladeshi taka notes of different denominations in DhakaSource: Dhaka Tribune

The credit flow to small and medium enterprises during the second quarter of the current calendar year increased 16% from the first quarter, Bangladesh Bank sources said.

According to central bank data, the total loan disbursement to SME sector rose to Tk225bn in the April-June from Tk194bn in the January-March. More…

Grameenphone secures $345m to widen rural network 0

Grameenphone_LogoSource: The Daily Star

Grameenphone is set to receive $345 million funds from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to expand its coverage in rural areas.

“Improved access to mobile telephony and data services is critical for economic growth and poverty reduction. Bangladesh’s teledensity remains low by global standards,” IFC said in a statement on its website. More…

Bangladesh to reach middle income country status in 4 years: Muhith 0

Dhaka, BangladeshSource: The Financial Express

Finance Minister AMA Muhith said Tuesday that Bangladesh might reach the level of a middle income country within the next three to four years when the per capita income would rise to around US$1,200 from $900.

The country’s status as a middle income nation could be consolidated by 2021 when per capital income would be raised to around $2,000, he hoped. More…