Remittance inflow in the first quarter of the current fiscal year jumped by 16 per cent to $1,542 million from $1,330 million in the same period of the last fiscal year, according to central bank statistics.

A service which allows Bangladeshis in Malaysia to transfer money home via their mobile phones has been launched by Citibank and DIGI Tele-communications Sdn Bhd. The new service is designed to simplify the transfer of money. Migrant workers in the Southeast Asian country can now remit cash without visiting a bank or exchange house, instead being able to simply load their mobile phone accounts.

The High Court yesterday, following an application, extended its stay order on the election process of the country’s apex trade body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), until November 4.

A Ukraine Company will set up a footwear and shoe manufacturing industry in the Adamjee Export Processing Zone.

Remittance inflow into the country recorded a 24 percent growth in the first three months of the current fiscal year.

A final proposal to turn state-owned Bangladesh Telegraph and Telephone Board (BTTB) into a public limited company is likely to be placed today at the meeting of the council of advisers.

The country’s apex trade body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), yesterday welcomed the government’s decision to form the Truth Commission.

Exhibit Clothing Limited, a British company, will set up a garments manufacturing industry with an investment of about US$ 13.255 million in the Adamjee Export Processing Zone (EPZ).

Bangladesh has been elected chairman of the coordination council of Least Developed Countries (LDCs).

CDCS Examination in Dhaka during April 2008

Twelve financial institutionsfive commercial banks and seven non-banking financial institutionshave so far signed ‘participation agreements’ with the Bangladesh Bank (BB) to use funds of housing refinancing scheme of the central bank.

An open hearing on an appeal by a US rights group to withdraw the US Generalised System of Preference (GSP) from Bangladesh will be held at the United States Trade Representatives (USTR) in Washington today.

Foreign Adviser Iftekhar A Chowdhury yesterday revealed a 10-point foreign policy plan of the caretaker government, which includes improving relations with neighbouring countries and the five key world powers, securing duty-free export access, attracting foreign investment and promoting manpower export.

The Council of Advisers yesterday at a meeting approved open sky policy for three airports of the country for the next three months with a view to ease the air travel problems of Bangladesh nationals.

Asia’s economic growth prospects will get a strong boost from the US Federal Reserve’s hefty cut in interest rates, Asian Development Bank president Haruhiko Kuroda said Wednesday.

The central bank has asked the nationalised commercial banks to improve their financial health and performances as their bad debt portfolio continues to mount.

Mr. Waliur Rahman Bhuiyan,Managing director of BOC Bangladesh Ltd, has been appointed by the Queen of England as Honorary Officer of the Most Excellent Order of the British Empire (OBE). Mr.Bhuiyan is a member of the Executive Board of ICC Bangladesh.

A US-based rights group has made a move seeking cancellation of GSP, a system that favours Bangladeshi garment export, alleging the country does not allow labour rights in export processing zones. However, Bangladesh Export Processing Zones Authority (Bepza) says the move is based on falsehoods. Bepza has drafted a position paper to help the government fight a petition the rights body filed with the United States Trade Representatives (USTR) on October 4.

Independent economists and private sector leaders have teamed up with the financial policymakers to advise the government on macroeconomic issues as the economy shows signs of sluggishness amid erosion of business confidence. They all grouped together in a ‘consultative committee on macro-economy’ to suggest measures to put the economy back on track and infuse dynamism into the business sectors, finance ministry officials said.

Around three lakh new Beneficiary Owners’ accounts, through which investors take part in stock market trading, have been opened in the last two months, said the chief executive of the Dhaka Stock Exchange. ‘The number of BO accounts has increased to around 17 lakh on September 10 from 14 lakh two months earlier,’ said Salahuddin Ahmed Khan on September 15. The growth reflects the increased awareness of the people about stock market investment, he said.