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Beximco’s severe cash crunch may be eased by Sonali Bank

Bangladesh’s state-owned Sonali Bank (SB) has decided to reschedule Tk 982.44 crore of Bangladesh Export Import Company (BEXIMCO) Limited’s loans and extend the repayment period to 2026 to help the conglomerate ride out its severe cash crunch and continue commercial operations. Beximco’s loan rescheduling proposal was approved in entirety last week by the Sonali bank’s […]

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€13 million loans to GMG unlikely to be recovered

Dhaka, Sept 6 (bangladeshinside.com) – Bangladesh’s largest government owned Sonali Bank Ltd’s loans worth Tk 134.36 crore or approximately 13.5 million Euro against inadequate collateral to GMG Airlines look unlikely to be recovered given the closure of the private carrier, government auditors found, reports the Daily Star. The spot of financial irregularity at the country’s largest state […]

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Real Estate Prices in Bangladesh in Sky-fall

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Dhaka, Aug 14 (bangladeshinside.com) — Realtors are slashing apartment prices in a bid to revive the housing sector, reports the Daily Star. “The apartment prices in Dhaka are around 25 percent cheaper now than three years ago,” said Toufiq M Seraj, managing director of Sheltech (Pvt) Ltd, a real estate company. In 2010-11, each square foot of a […]

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Bank stung by Ananda Shipyard’s liabilities

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Dhaka, Jul 29 (bangladeshinside.com) — Much hyped shipbuilding industry in Bangladesh seems to be in serious trouble which does not come as surprise to analysts. Cancellation of export orders worth $89.40 million or about BDT 700 crore of Ananda Shipyard and Slipways has left its financier, Islami Bank Bangladesh Ltd (IBBL), in a sticky situation, reports […]

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GMG not paying EUR 15 Mio in dues

Dhaka, Jul 23 (bangladeshinside.com) — An international aircraft leasing firm and Civil Aviation Authority of Bangladesh have filed eight cases against GMG Airlines in connection with around EU 15 million the carrier owes them, reports the Daily Star. The Civil Aviation Authority of Bangladesh (CAAB) lodged seven suits with lower courts while the Los Angeles-based International Lease […]

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আবারো কালো টাকা বৈধ করার সুযোগের সম্ভাবনায় টিআইবি উদ্বিগ্ন

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ঢাকা, ০৪ জুন (bangladeshinside.com) — আজ ঢাকায় প্রকাশিত এক সংবাদ বিজ্ঞপ্তিতে ট্রান্সপারেন্সি ইন্টারন্যাশনাল বাংলাদেশ (টিআইবি) ২০১৩-১৪ বাজেটে কালো টাকাকে বৈধতা প্রদানের সুযোগ অব্যাহত রাখা হচ্ছে মর্মে প্রকাশিত সংবাদে গভীর উদ্বেগ প্রকাশ করেছে। এই বিধান না রাখার জন্য সংস্থাটি অর্থমন্ত্রী তথা সরকারের প্রতি আহ্বান জানিয়েছে। এক বিবৃতিতে টিআইবি’র নির্বাহী পরিচালক ড. ইফতেখারুজ্জামান বলেন, “নাম মাত্র করের বিনিময়ে […]

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NBR directs banks to freeze GMG accounts

Dhaka, Jan 7 (bangladeshinside.com)—The National Board of Revenue (NBR) has directed all banks to freeze accounts of the country’s oldest private carrier GMG Airlines for not paying travel taxes worth BDT 210 million (approx. EUR 2.0 million) since 2005, reports The Financial Express in Bangladesh. The tax authority recently sent letters to 12 commercial banks […]

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BDT 12.47b stuck up in private placement shares

Dhaka, Nov 15 (bangladeshinside.com)—More than BDT 12.47 billion of investors’ money has got stuck-up in placement shares and those who paid money two years back for such shares to make some profit are facing the music, reports The Financial Express in Bangladesh. Many of them are yet to get their shares or are counting an […]

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Russia’s RT Nominated for Emmy award

Dhaka, Aug 24 (bangladeshinside.com) — Russian news channel RT has been nominated for an International Emmy in the News category, reports PRNewswire. RT, Russia’s first international news channel, widely watched in Bangladesh, was nominated for its coverage of Occupy Wall Street, a movement that started in New York City in 2011 and has since spurred a worldwide phenomenon. […]

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Yusen Logistics of Japan Expands to Bangladesh

Dhaka, Aug 16 (bangladeshinside.com)—The Japanese logistics company Yusen Logistics Co., Ltd. announced today it’s expansion to Bangladesh in a response to increasing logistics demand in one of the fastest growing emerging markets in the South Asian region. A joint-venture company, Yusen Logistics (Bangladesh) Ltd., has been registered in Bangladesh on the 2nd July, which will begin operations […]

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Korean Export Processing Zone at serious risk

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Instead of handing over the Korean Export Processing Zone (KEPZ) to the investor, the government of Bangladesh plans to take back […]

Dhaka needs to remove its rocky anti-FDI atmosphere

Korean Ambassador to Bangladesh Lee Yun-young

Korean Ambassador to Bangladesh Mr. Lee Yun-young has said Bangladesh should come out from protectionism and open up its market […]

‘Welfare Associations’ to negotiate for rights at Bangladesh EPZ

The Government of Bangladesh today approved, in principle, draft of a labour law for Export Processing Zones (EPZ) with the provision […]

Return of GSP seems far off – a lot more must be done

Bangladesh’s progress in implementation of the National Tripartite Plan of Action on Fire Safety and Structural Integrity (the Action Plan) which provides a […]

Bangladesh halts shutdown of “unsafe” factories

The Bangladeshi government is refusing to shut down garment factories declared unsafe, following a row with independent inspectors over the […]

Yawning gap between pledges and delivery to Rana Plaza victims

Many Rana Plaza victims are yet to receive the promised compensation from the government and retailers, nine months after the […]