Chief Adviser Fakhruddin Ahmed yesterday said the government is considering lifting restrictions on indoor politics countrywide and gradually relaxing the state of emergency depending on ‘needs and circumstances’.

“The ready made garment industry can double in size if hi-tech machines are used” said Anwar-ul Alam Chowdhury Parvez, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), yesterday.

Bangladesh Bank (BB) yesterday said GDP growth in the current fiscal year would range between 6 and 6.2 percent. At the beginning of 2007-08, the growth target was set at 7 percent.

Inspired by the Japanese ‘one village one product’ movement, the government has started implementing a ‘one district one product’ (ODOP) scheme to decentralise and diversify export production. Officials hope the move will lower costs and ease environmental and social problems such as uncontrolled migration from rural areas to the country’s main cities.

The export of processed foods has risen sharply in recent years as Bangladeshis abroad try to satisfy their craving for a taste of their homeland by stocking up on pickles, spices and snacks imported from Bangladesh.

The state-owned banks and financial institutions have been facing tough competition from both the local private and foreign commercial banks as their market shares have been falling.

A five-day single-country Bangladesh trade fair will start March 12 next in Riyadh for promotion of local export products to the Kingdom of Saudi Arabia (KSA).

Leading industrialist Latifur Rahman has been re-elected president of Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka for 2008. He is also the vice-president of International Chamber of Commerce (ICC) – Bangladesh.

Knitwear makers reiterated their demand for procedural simplification in import of yarn from India through Benapole land port in the face of rising prices of the item in the local market, while local spinners strongly discourage such import on the plea that the industry will be at stake.

Heavy inflow of liquidity and entry of fresh investors pulled the stock market to its historic height in 2007, but the bull run did not truly reflect the country’s overall economic performance and corporate earnings, said analysts.

ICC BANGLADESH WISHES ALL ITS MEMBERS AND WELL-WISHERS A VERY HAPPY AND PEACEFUL NEW YEAR 2008.

Russia will take initiatives to launch transaction through banking channel shortly for expansion of bilateral trade with Bangladesh. Ambassador of Russian Federation GP Trotsenko said this while he paid a courtesy call on President (In-charge) of Chittagong Chamber of Commerce and Industry (CCCI) MA Latif at the Chamber’s auditorium today.

The Bangladesh Bank (BB) plans to complete the sale process of nearly 60 per cent shares of troubled Oriental Bank Limited by the end of February next, official sources said.

The Bangladeshi products such as readymade garments, foods, spices, frozen shrimp and medicines have a good market possibility in Bahrain.A high-level Bangladeshi business team found this during a recent visit to Bahrain.

The Bangladesh Bank (BB) governor is optimistic about achieving a moderate growth this fiscal rate in the current fiscal.

The government has started offloading its stake in International Finance and Investment Corporation (IFIC) Bank as part of its earlier move to offload its stakes in different companies, including the bank. A total of 1,686 shares of the bank were sold on the Dhaka Stock Exchange (DSE) yesterday, DSE sources said.

A 20-member Thai business delegation yesterday visited Dhaka EPZ and expressed satisfaction over its peaceful production atmosphere.

The Asian Development Bank will provide $21.2 million for the development of information and communications technology in Bangladesh, Bhutan, India and Nepal by enhancing the availability of affordable broadband internet connections, skilled manpower, local contents and internet applications to promote growth and reduce poverty.

The Dhaka Stock Exchange has embarked on a mission to identify companies that are not holding annual general meetings and paying dividends without acceptable reasons, a move market experts believe will increase confidence of small investors.

Ranks Telecom Ltd (RanksTel), a PSTN (public switched telephone network) operator, yesterday launched its land phone services in Dhaka.