WedJan172018

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Business

Deal signed with ADB for designing Dhaka-Ctg expressway

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DHAKA: The Asian Development Bank (ADB) and the government of Bangladesh on Wednesday signed an agreement for US$ 10 million in loan for designing a new expressway between Dhaka and Chittagong to boost trade and ease congestions on the existing highway linking the two cities.

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Unrest affecting Bangladesh’s economic growth: IMF

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Shop owners keep shutters down during hartal (shutdown) hours fearing vandalism. Star file photoThe International Monetary Found (IMF) has said the ongoing political instability is affecting the economic activities of Bangladesh.“Unrest in recent months is affecting economic activity, with real GDP growth now expected to moderate to below 6 percent in fiscal year 2013 (July 2012-June 2013),” said a statement of an IMF Mission published on April 2.

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Novoair to introduce another flight on Dhk-Ctg route from April 15

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Dhaka, Apr 2 (UNB) – Novoair, the country’s newest private airline, will introduce another flight on Dhaka-Chittagong route from April 15.

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ECNEC okay 8 projects involving Tk 9,498cr; Rooppur Nuke Power Plant gets nod

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News - ECNEC okay 8 projects involving Tk 9,498cr; Rooppur Nuke Power Plant gets nodDhaka, Apr 2 (UNB) - The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved the `Construction of Rooppur Nuclear Power Plant (1st phase) Project’ involving a cost of Tk 5,242 crore.

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Offshore hydrocarbon bidding: Only 2 IOCs submit bids for 3 blocks

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News - Offshore hydrocarbon bidding: Only 2 IOCs submit bids for 3 blocks

Dhaka, Apr 2 (UNB) – Country’s hydrocarbon exploration bidding, which was announced December last, received poor response as only two international oil companies (IOCs) –- US-based ConocoPhillips and the Indian ONGC Videsh -- submitted bids separately for three offshore shallow blocks on Tuesday, the closing day.

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Inter-city train derails in Comilla; 20 hurt-Schedules of 5 trains on Dhaka-Ctg route cancelled

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News - Inter-city train derails in Comilla; 20 hurt

Comilla, Apr 2 (UNB) – Train communications between Dhaka and Chittagong remained suspended as a Chittagong-bound inter-city train derailed near Padua Bazar level-crossing in Sadar Dakkhin upazila, leaving some 20 people injured early Tuesday.

 

 

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Tk 96cr of commerce ministry project ‘misappropriated’

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The Implementation Monitoring and Evaluation Division has unearthed that a total of Tk 96 crore of a commerce ministry project to develop business in rural areas has been misappropriated.
The IMED will place today its review report on the project before a meeting of the National Economic Council, the government’s highest policy making body headed by prime minister Sheikh Hasina.

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WB's IPFF project helps infrastructure development thru' PPP ventures

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The World Bank is supporting the government for infrastructure development and diversification by private sector participation through the Investment Promotion and Financing Facility (IPFF) Project.
The project also helps build the capacity of the local financial sector for longer term financing to the much-needed PPP ventures in infrastructure, said a World Bank press release.
The participating financial institutions have submitted two loan applications to IPFF Cell at Bangladesh Bank for consideration. The review of the first proposal, a Central Effluent Treatment Plant (CETP) at Chittagong EPZ is almost at the final stage.

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Dhaka-Ctg expressway - $10m deal with ADB tomorrow

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The Asian Development Bank (ADB) will help design a new expressway between Dhaka and Chittagong to boost trade and ease congestion on the existing highway linking the two cities.
The bank would provide a $ 10 million loan to design the expressway, the first public-private partnership (PPP) project in the country's transport sector.
A source in the ADB told BSS yesterday that the agreement would be signed between the government of Bangladesh and the ADB on April 3 (Wednesday) at the BEC-II conference room of the Economic Relations Division (ERD) at Sher-e-Bangla Nagar.
Dhaka, located in the centre of the country, is the main commercial and administrative centre, while Chittagong, situated in the south- east, is the primary seaport, accounting for 90 per cent of imports and exports.

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Use energy-efficient technologies, reduce stretch on power generation: Experts

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Dhaka, Apr 1 (UNB) – Experts at a seminar here on Monday said the Small and Medium Enterprise (SME) owners should come forward to adopt energy-efficient technologies to reduce stretch on power generation.

They pointed out that widespread energy inefficiency prevails in the SME sector, which accounts for some 37,000 industries, for lack of awareness about the benefits of energy-saving technologies.

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India tests line to export 500 MW power to Bangladesh

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NEW DELHI, Apr 1: India plans to export 500 megawatts (MW) of power to Bangladesh from July in a bid to strengthen strategic ties with the neighbouring country.
According to report of the Telegraph, Bangladesh Power Development Board will receive 500MW from a newly built 125km power line, which links Paschimbango’s Murshidabad district with Bheramara in Bangladesh. Part of the 500MW will come from NTPC's Farakka power plant.
"The testing of the transmission line is being done before commissioning it. The line will be ready to export power from India to Bangladesh from July," a senior PowerGrid official said.

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Emirates adds two Dhaka-Dubai flights

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DHAKA, Apr 1: Emirates, one of the world’s fastest growing airlines is further growing its’ commitment to Bangladesh with the introduction of two more weekly flights from April 2 bringing the total number to 21 a week, says a press release. The two extra flights operated by an Airbus A330-200 will offer customers an option of business class and economy class cabins and will provide almost 500 additional seats in and out of Bangladesh every week.
Passengers from Chittagong and Sylhet will receive a complimentary air-conditioned coach transfer service to and from Dhaka.
The additional flights will be operated on Tuesdays and Fridays.

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Provision for GB director election ‘to be changed’

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News - Provision for GB director election ‘to be changed’Dhaka, Apr 1 (UNB) – Finance Minister AMA Muhith on Monday said the provision for election of Grameen Bank (GB) directors will be changed as it has various flaws.“While making the change, the GB’s paid-up capital will be raised to incorporate additional members as well as its borrowers,” he said.

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US$ 500mn export orders diverted: BGMEA, BKMEA

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News - US$ 500mn export orders diverted: BGMEA, BKMEADhaka, Apr 1 (UNB) – Export orders worth about US$ 500 million of the readymade garment sector have already got diverted to neighbouring nations amid the political instability in the country, BGMEA and BKMEA claimed on Monday.

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DGEN hits one-yr low; political instability blamed-Investors protest in front of DSE

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News - DGEN hits one-yr low; political instability blamedDhaka, Apr 1 (UNB) – Political instability took its toll on the country’s share market plunging key index at the country’s premier bourse – DSE – into a one-year low on Monday that sparked street protest.
 

 

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Rooppur Nuke Power Plant: Govt moves to undertake 1st phase work

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News - Rooppur Nuke Power Plant: Govt moves to undertake 1st phase work

Dhaka, Apr 1 (UNB) – The government is going to undertake the first phase for setting up Rooppur Nuclear Power Plant with a view to accomplish the indispensable preparatory construction works at Rooppur in Ishwardi upazila of Pabna district.

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40,000 tax evading apartment owners found in just one part of city: NBR

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The National Board of Revenue has detected that there are around 40,000 tax evading apartment owners in just a part of the capital city and even they do not have any taxpayer identification numbers, said Ghulam Hussain, chairman of the National Board of Revenue on Sunday.
‘We have detected the tax evading apartment owners from a part of the city who did not take TINs though they have taxable incomes that come from house rent,’ he said at a luncheon meeting of the Foreign Investors Chambers of Commerce and Industry held at Westin Hotel in Dhaka.

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