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Uttara Finance & Investments Ltd BDT 5,100cr scam: UTTARAFIN

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1 crore =10 million & 1 EUR = BDT 102.67 Loan applications to financial institutions in Bangladesh require five layers of scrutiny before being approved, usually. The Uttara Finance and Investment Limited, a non-bank financial institution and publicly traded company in Bangladesh under the Dhaka Stock Exchange (DSE) trading code UTTARAFIN did not followed any of the […]

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FDI into Bangladesh declines as methodology revised to IMF standards

Net inflow of Foreign Direct Investment (FDI) into Bangladesh appears much lower than it was estimated earlier as the central bank revised the data matching an updated matrix of the IMF. The FDI netting in the last fiscal year, 2015-16 (FY16), was estimated at US$2 billion, which has been now revised downwards at $1.29 billion after the Bangladesh […]

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Japan’s US$1.20b development aid package to Bangladesh facing delay

Japan’s nearly US$1.2 billion soft loan for five development projects is facing delay despite Bangladesh government’s efforts for confirming the assistance, officials said Wednesday. The loans are arranged under the Tokyo-assured 36th development aid package. Gloomy business and political environment as well as increased dependence on a certain bilateral donor country are cited as major reasons […]

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Japan wins over China beyond South China Sea – for now

Two major powers in Asia, Japan and China have been all but bosom friends for centuries and now more so. Their rivalry range from fishing into each other waters to space research on one hand and dominance from the South China Sea to the Indian Ocean and beyond on the other. In one of the recent business […]

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Bangladesh Govt. to reclaim 2,000-acre KEPZ project land jeopardising $1.2b FDI

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The Bangladesh government’s plan to take back 2,000 acres of land out of nearly 2,500 acres from the Korean Export Processing Zone (KEPZ) would jeopardise an investment of $1.2 billion that South Korean companies are planning to pump into the economic zone. Experts said it would send a wrong message to foreign investors who see […]

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Is BGMEA Firewall against foreigners in the RMG sector losing heat?

The government of Bangladesh has reached a consensus with the country’s Ready-made Garments (RMG) industry associations to allow Foreign Direct Investment (FDI) outside the export-processing zones (EPZs) under certain conditions. The final and decisive blow for such agreement may have come from Japan, which, during it’s Prime Minister Shinzo Abe’s 21-hour visit to Bangladesh on the […]

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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 part of the 2,492 acres of land allotted to the KEPZ 16 years ago. The country’s largest private export processing zone is in a web of land-related and legal tangles triggered mainly by the non-cooperation […]

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VF IFC team up to lend $10m for apparel sector

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Programme offers financing for fire and building safety improvements VF Corporation (NYSE: VFC) today announced a collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, to provide up to $10 million in financing for building upgrades and fire and safety improvements in vendor factories in Bangladesh. These funds are part of VF’s overall US$17 million commitment to the health and safety of Bangladeshi […]

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PARAMOUNT: Paramount Insurance Company

Paramount Insurance Company is one of the leading insurance company of the country, since its establishment in November 1999, the company has successfully been in operation with paid up capital of Taka 15 (Fifteen) crore (Tk. 6 crore from sponsor AND Tk.9 crore from IPO) present paid up capital is 19.06 crore and authorised capital […]

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SPCL: Shahjibazar Power Company Limited

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Another $25m IFC loan to a Bangladeshi company PRAN

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International Finance Corporation (IFC), the private sector development arm of the World Bank Group, has provided yet another $25 million loan […]

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 […]