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Tuesday , September 26 2017
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Bangladesh

Interest on bank deposit drops 43% in 5 years

Crashing chart

DHAKA: For the past five years, 65-year-old Nesar Uddin has been covering all of his daily expenses with the interest earned on his savings. On retiring from service in 2011, he had placed his pension in a bank as a Fixed Deposit Receipt (FDR). But when Nesar wanted to transfer his money into another FDR when its five-year term matured ... Read More »

Cigarette smugglers get caught despite hajj pilgrim disguise

BANGLADESH CUSTOMS

DHAKA: Smugglers, in their latest innovative endeavour to succeed, dressed up as hajj pilgrims. But the constant vigilance maintained by Customs Intelligence and airport police poured water all over their plans. On Thursday, customs officials at Shahjalal International Airport seized a total of 1,309 cartons of cigarettes from passengers arriving from Saudi Arabia claiming to be hajj pilgrims. Assistant Commissioner ... Read More »

Bangladesh buys 50,000 tons rice in tender

japan rice

DHAKA: Bangladesh’s state grains buyer has purchased 50,000 tonnes of rice at $438.00 a tonne CIF liner out which was offered in a tender on Sept. 12, officials said on Wednesday. The proposal received approval from Bangladesh’s cabinet purchase committee on Wednesday, officials at the state grains buyer said. European traders said the non-basmati, parboiled rice was likely to be ... Read More »

Bangladesh Bank awards top remitters

BB

DHAKA: Bangladesh Bank has awarded 26 individuals who sent the highest amounts of remittance to Bangladesh last year. Of them, five were given the award for their investments in foreign currency bonds. BB Governor Fazle Kabir handed the Bangladesh Bank Remittance Award 2016 at a ceremony at the Bangla Academy auditorium in Dhaka yesterday. Of the top remitters, 17 live ... Read More »

Bangladesh imports 100,000 tons rice from Myanmar

srilanka rice

DHAKA: The government has decided to import 100,000 tonnes of white rice from Myanmar, food minister Qamrul Islam said on Monday. “A delegation from Myanmar had a meeting with the food ministry on Sunday where the rice import was discussed,” he said while talking to UNB at his office. The move came amid the skyrocketing prices of rice in the ... Read More »

Bangladesh Bank elected AFI vice-chair for two years

B1-BB

DHAKA: Bangladesh Bank (BB) has been elected the vice-chair of Alliance for Financial Inclusion (AFI) Board for two years (2017-18) among 114 institutions of 95 countries. The BB, the country’s central bank, was elected in the second annual general meeting (AGM) of AFI during its Ninth Global Policy Forum (GPF), held in Sharm El Sheikh of Egypt on September 12-15, ... Read More »

Bangladesh inks MOU with Indonesia for LNG supplies

Kuwait LNG imports

DHAKA: Bangladesh inked a memorandum of understanding Friday for LNG imports from Indonesia, an official at Bangladesh’s Ministry of Power, Energy and Mineral Resources said Friday, as the country continues to seek out supplies to meet mounting domestic demand. Bangladesh’s state minister for the MPEMR, Nasrul Hamid, inked the MOU with Indonesia’s energy and mineral resources minister Ignasius Jonan in ... Read More »

Bangladesh Bank asks CID to probe transactions by 3,000 bKash agents

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DHAKA: Bangladesh Bank has asked the police to investigate ‘irregular’ transactions by around 3,000 agents of mobile money transfer service provider bKash. The central bank’s spokesperson Shubhankar Saha told bdnews24.com on Thursday that it asked the Criminal Investigation Department or CID to check the transactions after the Financial Intelligence Unit of the bank gathered ‘specific information’ on the dealings. CID ... Read More »

Bangladesh set to sign first ever LNG import agreement

sign

DHAKA: According to Reuters, Bangladesh is set to sign a 15-year contract with Qatar’s RasGas Co. to import LNG. Reuters reports that the deal will be signed on 25 September 2017, with imports to commence next year. Under the terms of the contract, RasGas will provide 1.8 million tpy of LNG for the initial five years. Over the following 10 ... Read More »

Bangladesh July-August remittances reach 2.53 bln USD

REMITTANCES

DHAKA: Bangladeshis living and working abroad remitted back 2.53 billion U.S. dollars in the first two months of the current 2017-18 fiscal year, central bank data showed Tuesday. According to Bangladesh Bank (BB) data, the flow of inward remittances surged about 20 percent year on year to 1,418.58 million U. S. dollars in the last month. Remittances, one of the ... Read More »

Customs arrests man with 21 gold plates at Dhaka airport

arrest

DHAKA: Customs Intelligence has arrested a man with 2kg gold at the Hazrat Shahjalal International Airport. The man was identified as 41-year-old Mahmud Shamim, a resident of Munshiganj. He returned to Bangladesh at 12:45am from Malaysia on Monday. Shamim tried to smuggle in the 21 gold plates worth an estimated Tk1.10cr, Customs Intelligence officials said. Customs Intelligence and Investigation Directorate ... Read More »

Bangladesh’s exports up 13.84% in July-August

exports

  DHAKA: Bangladesh’s export income in the first two months of the current 2017-18 fiscal year (July 2017 to June 2018) grew about 14 percent to 6.64 billion U.S. dollars, an official said Monday. The Export Promotion Bureau (EPB) official told Xinhua that the country earned a total of 6,628.60 million U.S. dollars from export during July-August of 2017-18 fiscal ... Read More »

Two Bangladeshi banks win ADB’s TFP award

adb

DHAKA: Two Bangladeshi banks-Dutch-Bangla Bank Limited and BRAC Bank Limited-are among the winners of the third annual Trade Finance Program (TFP) Awards announced by the Asian Development Bank (ADB). The ADB announced the winners of its third annual TFP Awards at a dinner held on Tuesday in Singapore where more than 150 guests from banks and other financial institutions around ... Read More »

Bangladesh Bank sends team to Manila to push for heist money recovery

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DHAKA: Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila. Bangladesh Bank has been able to retrieve only about $15 million of the money stolen ... Read More »

Bangladesh looking for rice imports from Myanmar

RICE IMPORTS

DHAKA: Bangladesh is looking to import rice from Myanmar to tide over an impending food crisis caused by devastation of croplands by floods. A Bangladesh diplomat in Yangon told Mizzima that his country was looking at importing anything between 100,000 to 300,000 Metric tonnes of rice from Myanmar. “Depending on what Myanmar is capable of selling us, we would like ... Read More »

Wärtsilä to provide engines for 220MW power plant in Bangladesh

POWER PLANT

DHAKA: Wärtsilä has secured a contract to provide engines for a new 220MW baseload power plant in Chandpur, Bangladesh. The company will supply 12 18-cylinder Wärtsilä 50 engines that run on heavy fuel oil. Delivery of the first Wärtsilä engine is expected to be carried out by November this year, while the remaining engines will be delivered one month later. ... Read More »

Bangladesh Bank advertises 3,463 jobs in six state-run banks

Bangladesh bank

DHAKA: The Bangladesh Bank has advertised over 3,000 jobs in six state-run banks and one financial institution. In a circular published on its website on Tuesday, it calls for applications to 3,463 posts of officers (general). Sonali Bank Ltd will recruit 363, Janata Bank Ltd 190, Rupali Bank Ltd 699, Bangladesh Development Bank Ltd 18, Bangladesh Krishi Bank 1,722 and ... Read More »

HSBC Bangladesh issues export credit package

customs-export

DHAKA: HSBC Bangladesh has lent US$46mn to local apparel exporter Viyellatex Group, for the purchase of a new spinning mill. The finance is guaranteed by Swiss Export Risk Insurance (SERV) and which marks its first private sector deal with HSBC Bangladesh. The mill will cost US$121mn to purchase, with goods, equipment and technology coming from exporters in Germany, India, Japan, ... Read More »

Govt to import LNG by next April

lng logo

DHAKA: State Minister for Power, Energy and Mineral Resources Nasrul Hamid yesterday said the government is set to import liquefied natural gas (LNG) by April, 2018 to mitigate the growing energy demand in the country. “It is necessary to generate 2,000-MW more per year to fulfill the government’s target, as the power demand is increasing day by day,” he said ... Read More »

Food ministry for import of 20 lakh tons of grains

GRAIN

DHAKA: The food ministry yesterday informed the cabinet that 20 lakh tonnes of rice and wheat would have to be imported to meet demand and keep the market stable until January next year. In the meeting at the Prime Minister’s Office, Prime Minister Sheikh Hasina wanted to know about the current food deficit from the ministry, said Cabinet Secretary Shafiul ... Read More »