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Faruk Concerned about Unstable Ramadan Market PDF Print E-mail
Monday, 26 July 2010

Commerce minister Faruk Khan has expressed his concern that there might be an unstable market during Ramadan because of a vested syndicate group.

"The government has taken the appropriate steps to keep the market stable. But some people might plot to make it unstable," he said at a procession arranged by the Rickshaw-Van Workers' League at Bangabandhu Avenue on Sunday afternoon.

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Owners Reluctant Over Minimum Wage Demand PDF Print E-mail
Monday, 26 July 2010

Ready-made garment factory owners are not interested in providing more than Tk 2,400 as minimum wage a month against the workers' demand of Tk 5,000, a parliamentary panel has been told.

Considering the owners refusal, the watchdog on the labour and manpower ministry had recommended providing the workers with conveyance, accommodation facilities and other allowances for the poorly-paid workers.

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New Farm Loan Policy Announced PDF Print E-mail
Thursday, 22 July 2010

The central bank has announced 'Agriculture Loan Policy' with a target of distributing Tk 12,600 crore to the farmers in this fiscal year, which is around 9.5 percent of the current national budget and 9.6 percent higher than last year's.

Bangladesh Bank governor Atiur Rahman announced the policy at a press conference at the bank's office on Wednesday. Deputy governors of the bank Murshid Kuli Khan and Ziaul Hasan Siddiqui were also present at the press briefing.

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Deal 'Soon' for $1b Credit Line from India PDF Print E-mail
Thursday, 22 July 2010

Dhaka and New Delhi are finalising the modalities of implementing the US $ 1 billion Line of Credit (LoC) that India offered to Bangladesh last January.

The Bangladesh government is going to ink a deal with India's Exim Bank that New Delhi will route the credit line through.
Highly-placed sources in the Indian government said that the Exim Bank would possibly sign an agreement with Bangladesh government within a month for utilisation of the credit line.

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RMG Workers' Pay Meagre: PM PDF Print E-mail
Thursday, 22 July 2010

Prime minister Sheikh Hasina has said the wages the owners of the ready-made garment unit pay their workers were "insufficient" and "inhuman".

She made the comment while answering to the questions from the MPs in the parliament on Wednesday.

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Bill on Special Economic Zone Passed PDF Print E-mail
Tuesday, 20 July 2010

The parliament has passed a law that will allow the government to declare a particular region as special economic zone for rapid growth and industrialisation.

Any entrepreneur, investing in the special economic zone, will get special tax rebate and financial benefits, the bill, pushed through on Tuesday, says. In addition, they will get land from the government on lease.

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Govt to Import Rice from Vietnam PDF Print E-mail
Tuesday, 20 July 2010

The government has decided to import rice from Vietnam shortly, food minister Abdur Razzaque told journalists on Tuesday.

The decision followed a meeting in the morning between the minister and a visiting Vietnamese delegation led by Cao Thi Ngoc Hoa, vice director general of Vietnam Southern Food Corporation, a government entity.

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Check Price Spiral in Ramadan: PM PDF Print E-mail
Monday, 19 July 2010

The prime minister has directed the top administrative officials to curb any artificial price hike in the upcoming fasting month of Ramadan, when prices normally go up.

"Some rogue traders raise food prices by creating an artificial crisis during Ramadan. The entire administration has to be careful against such move," Sheikh Hasina told a meeting with secretaries of different ministries and divisions at the Cabinet Division conference hall on Sunday.

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India, Nepal to be Allowed Use of Ports PDF Print E-mail
Sunday, 18 July 2010

As a way of "strengthening bilateral relations," the government has decided that India and Nepal will be able to use the Chittagong and Mongla ports, Shahjahan Khan, the shipping minister said on Saturday while visiting Paturia Ghat in Mankganj.

In relation to transport issues relating to the local area, he said some utility ferries would be added to the Paturia Ghat to make ferry movement uninterrupted - cutting down expenditure and saving time.

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Faruk Warns of Stern Action Against Price Hike PDF Print E-mail
Sunday, 18 July 2010

Commerce minister Faruk Khan has warned of stern action against those responsible for pushing prices of daily commodities up during the upcoming Ramadan.

His warning came while opening a tree plantation programme launched by Kashiani Upazila Krishak League in Gopalganj on Saturday.

He also urged the businessmen not to hike the prices.

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Minister Makes U-Turn on Food Crisis PDF Print E-mail
Tuesday, 13 July 2010

A day after the food minister feared a probable food crisis during October-November, Abdur Razzaque on Monday told the parliament that there will be no such crisis.

The sudden U-turn comes after a meeting between the prime minister and secretaries at the Cabinet Division on Monday morning.

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Millers Stop Rice Supply from Sunday PDF Print E-mail
Sunday, 11 July 2010

Millers across the country have decided to stop supplying rice to the government warehouses from Sunday after a meeting with the government representatives failed to resolve the discriminatory cash incentive issue on Saturday.

"We've also decided to halt supply of rice until there is a positive response from the government side," K M Layek Ali, convenor of Bangladesh Auto, Major and Husking Mill Owners' Association, told bdnews24.com.

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Why is China So Important to Google? PDF Print E-mail
Saturday, 10 July 2010

Google Inc surprised markets on Friday by saying Chinese authorities had renewed its licence to operate a website. In a bid to secure the licence, the world's largest search engine said last week it would stop automatically redirecting users of its China search site, Google.cn, to its uncensored Hong Kong site.

The saga began when Google said in January it may quit China over censorship concerns and after suffering a hacker attack it said came from within China.

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100MW Plant at Keraniganj PDF Print E-mail
Saturday, 10 July 2010

The government has signed contract with a local firm to purchase 100 megawatts (MW) of power under the quick rental plan.

State-run Bangladesh Power Development Board (BPDB) will buy each kilowatt hour (kWh) of power at Taka 7.785 from the furnace oil-run plant, to be set at Keraniganj, on the outskirts of Dhaka.

According to a BPDB spokesperson, the plant, run by Power Pac Holdings Ltd, will be installed and ready within six to nine months.

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First PDB-REB venture on the cards PDF Print E-mail
Monday, 05 July 2010

Bangladesh Power Development Board (BPDB) and Rural Power Company Limited (RPCL) are set to build a power plant together.

This is the first time that the two government agencies will join hands in setting up a plant. Previous plants were set up either by the BPDB or the Rural Electrification Board (REB).

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Energy Crisis Impedes Growth by 2% PDF Print E-mail
Friday, 25 June 2010

Electricity and gas crises are severely hampering economic development to the tune of 2 percent loss in GDP growth.

They also cause production loss of around $1.33 billion to export-oriented industries every year.

The statistics were presented at a seminar on "The impact of power and gas crisis on the export oriented manufacturers' sector" arranged by Dutch-Bangla Chamber of Commerce on Thursday.

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WTO Chief: Protectionist Pressure Tied to Joblessness PDF Print E-mail
Friday, 25 June 2010

As long as unemployment is high, there will be pressure to keep protectionist trade measures in place, the director-general of the World Trade Organization said on Thursday.

When asked why there has been no big trade war, Pascal Lamy, who was speaking at the Council on Foreign Relations in New York, said it had to do with existing structures, such as "strong international disciplines."

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Dhaka Stocks Fall Sharply PDF Print E-mail
Tuesday, 08 June 2010

Dhaka stocks fell sharply on Monday after a two-week high. Mohammad Shakil Rizvi, president of Dhaka Stock Exchange (DSE), told bdnews24.com that the market had reacted to a newspaper report on taxing profits from stock market.

Some newspapers reported that the government was planning to impose five percent tax from the next fiscal on investors profiting more than half a million taka annually.

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Rising Foreign Loans 'Could Hurt Economy' PDF Print E-mail
Monday, 31 May 2010

Bangladesh's foreign loans have shot up 32 percent in the first 10 months of the current fiscal year compared to the previous year, underlining the economy's institutional weakness, a former advisor says.

The overseas grant receipt has dipped 22 percent during the same period, former commerce advisor to the caretaker government Hossain Zillur Rahman told bdnews24.com by telephone.

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Watchdog Advocates Immediate Food Import PDF Print E-mail
Monday, 31 May 2010

A parliamentary watchdog has recommended immediate import of food grains in view of the poor response to the government's internal food procurement drive.

The parliamentary standing committee on food and disaster management ministry, at its meeting Monday, observed that the ongoing food procurement drive may not succeed due to higher prices of rice and paddy in the market than the government-fixed rates.

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Rice Output May Drop 7% A Year PDF Print E-mail
Wednesday, 26 May 2010

Rice productivity could decline by 7.4 percent every year until 2050 due to changing weather.

A study report projects that lost agricultural productivity could amount to a total loss of $3 billion every year (Tk 210 billion) totalling $121 billion in lost GDP during a 45-year period between 2005 and 2050.

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