Bangladesh needs to record a growth rate of at least 4.0 per cent in agriculture a year if the country wants to achieve the objective of halving its extreme poverty by 2015, says a new World Bank report.

The International Monetary Fund on Wednesday slashed its 2008 global economic forecast, warning that turbulence stemming from a crisis in the US housing sector could crimp growth worldwide. The world economy is expected to expand 4.8 percent next year after a 5.2 percent pace projected for 2007, the IMF said in its twice-yearly World Economic Outlook (WEO) report.

The United Nations Food and Agriculture Organisation (FAO) has given award to one Bangladeshi and four other Asian farmers for their outstanding achievements in the areas of horticulture, aquaculture, agribusiness, home gardening and community forestry.

The country’s point to point inflation for the month of September stood at 9.6 points according to provisional figures, official sources said.

Bangladesh is going to seek $1,623 million assistance from the World Bank (WB) to carry on its reform and development initiatives in the current fiscal year (FY).

For the first time in its history, the much-ignored national oil and gas exploration company BAPEX is being awarded more than eight projects to increase natural gas supplies within a short time.

The government has fixed an ambitious export target of $14.5 billion for the fiscal year 2007-08 against a backdrop of falling exports in readymade garment (RMG) sector, leader in the country’s export initiatives, this July.

The central bank yesterday tightened rules for exchange houses abroad having ‘drawing arrangements’ with local banks to ensure the safety of remittances sent by non-resident Bangladeshis and avert any future remittance scam like the one committed by the UK-based Fast Solution Company.

The International Chamber of Commerce, Bangladesh, has said that the public’s acceptance of the interim government is now on the decline due to spiralling prices of food items and essential commodities and the reluctance of the business community to invest money at present.

Winning the confidence of the business community in particular and the public in general is a challenge for the government, said the International Chamber of Commerce-Bangladesh (ICC-B).

Bangladesh economy is now passing through a difficult time with enormous challenges ahead. The spiraling price hike of essentials and increasing inflation are currently the biggest pressure on the economy. The unabated price rise has put under threat the impressive achievements made after January 11, 2007. The government should,therefore, look into the matter immediately and continue to maintain a liberal import policy as a short term measure, particularly for food grain import to keep prices under control said International Chamber of Commerce (ICC) Bangladesh, The World Business Organisation in the Editorial of its Quarterly News Bulletin released on 9th October.

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The general index at Dhaka Stock Exchange on Monday went up to a new high of 2762.37 points amid buying rush of the investors just a day ahead of the bourse’s Eid closure.

Three local bidders have started examining financial and physical conditions of Oriental Bank before they firm up financial offers for stakes in the beleaguered private bank. The three — Summit group, BRAC Bank and Domestic Investors Consortium.

The Japan International Cooperation Agency will conduct a feasibility study for setting up a 450MW power plant at Bheramara, Power Division sources said.

Bangladesh has agreed in principle to offer Rohanpur in Chapainawabganj district as the rail port for the transit of goods to and from Nepal. The agreement came in response to a request from Nepal at trade talks that concluded in Kathmandu yesterday with a package deal on ways and means of enhancing bilateral trade.

Garment exports have suffered a serious set back in the past three months but are expected to bounce back in October, said the president of the country’s knitwear association.

Any country may emerge as an attractive tourist’s destination through developing its infrastructure and creating newer attractions for visitors and Bangladesh has ample scope for being such a destination, observed a top regional tourism official, who was on a short visit to Dhaka recently.

The Bangladesh Telecommunication Regulatory Commission (BTRC) floated a tender Sunday for issuing licences under the International Long Distance Telecommunication Service (ILDTS) Policy-2007 to open up the voice over internet protocol (VoIP) services to the private sector.

The Privatisation Commission has been given more clout to control valuation firms, under a new regulation approved by the chief adviser, Fakhruddin Ahmed, officials said Sunday. ‘Under the new regulation, valuation firms will be held responsible for false and fabricated information,’ PC member Nasiruddin Ahmed told the news agency.