NEWS OF THE DAYForeign direct investment (FDI) into China rose during the first five months of this year, the government announced Tuesday, paced by strong increases from the European Union and United States.
Bangladesh is interested to set up joint venture hydroelectric power projects in Indian Meghalya, Arunachal Pradesh and north western state or import power from there. The Bangladesh government will place a proposal to Indian officials in this regard during the Indo-Bangla power secretary level meeting to be held on June 29 in New Delhi, reliable sources informed. “Power Division sent a summery to Prime Minister’s Office (PMO) on June 17 last seeking approval of Prime Minister Sheikh Hasina for attending the dialogue,” an official of PMO said. According to the summery, there is huge potentiality to produce 186,000MW of electricity from hydroelectric power plants in Indian Meghalya, Arunachal Pradesh and north western... more ›
Optical fibre cable will be laid down at 290 left out upazillas across the country under a Tk 4.99 billion project, eying to expand ICT facility at the root level. The remaining 179 upazillas have already come under optical fibre connectivity through BTCL and other development projects. The “Upazilla level optical fibre cable network development project” got nod in the meeting of the Executive Committee of the National Economic Council (ECNEC). Prime Minister Sheikh Hasina, also the ECNEC chief, presided over the meeting at NEC on Wednesday. Because of restrained geographical locations, Bhola sadar, Sandip, Hatia, Moheshkhali, Kutubdia, Baghaichari, Langadu, Juraichari, Belaichari, Barkal and Mehendiganj, Muladi and Hizla Upazilla of Barisal... more ›
A delegation of JP Morgan Chase Bank, NA, a US-based top commercial and investment banking organisation, visited Dhaka Stock Exchange (DSE) for reviewing investment prospects in Bangladesh stock market. Standard Chartered Bank, investment associate of JP Morgan accompanied the visiting delegation at DSE office on Tuesday. Stephen Phillpotts, vice-president of JP Morgan, Raushanah Bowdre, assistant vice president, Simon Kyte, director of Standard Chartered’s service management and transaction banking and Md Tanzir Islam, director and head of investors and intermediaries’ financial institutions were present at the meeting. Ahsanul Islam Titu, President, Mohammad Shahjahan, Senior Vice-President, Md Mizanur Rahman... more ›
Bangladesh Bank (BB) Governor Dr. Atiur Rahman said mobile banking system has brought a revolutionary change in the country’s economic sector by including the people of grass root level into the mainstream economy. “Some Taka 121 crore is being transacted everyday across the country through mobile banking, and Tk. 3637 crore was transacted in the month of April last”, he informed. The central bank chief came up with the information at the inaugural ceremony of ‘EXIM Cash’, a mobile banking system of EXIM Bank Limited held at the Radisson Hotel in the capital on Tuesday. “After introduction of the mobile banking system in the country three years ago, the system has been... more ›
Share prices at the Dhaka Stock Exchange (DSE) posted a marginal gain on Tuesday with improved turnover as investors poured fresh funds amid optimism. Higher investors’ participation at the DSE helped maintain vibrancy at the DSE as turnover remained above Tk 8 billion for the third consecutive session totaling to Tk 8.47 billion, an increase of 3.1 percent compared to the previous session’s value. This was the highest turnover since October 3, 2012, when turnover was Tk 10.44 billion, market data shows. “Increased liquidity in the banking system and lowering of deposit rates by the banks resulted in increased fund flow into the market,” commented LankaBangla Securities. “The participation of investors... more ›
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