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Bangladesh News
  • Shakib Al Hasan lifts the trophy, the fireworks go off, the crowd lap up the moment, and England finish a memorable winter with a classic English collapse.

UNDP: Battling the climate crisis with crab farming in southern Bangladesh

  • From Disaster to Opportunity: How Crab Nursing is Saving Livelihoods in Bangladesh's Coastal Villages

  • With rising sea water threatening livelihoods in coastal districts, the Gender-responsive Coastal Adaptation (GCA) Project is coming up with climate-resilient livelihoods to improve the adaptive capacities of the communities.

UK Government: Bangladesh-UK Accord on Climate Change

  • Bangladesh and UK signed an agreement for working together on climate action bilaterally and multilaterally to help deliver the outcomes of COP26 and COP27.

  • Bangladesh commends the UK for its doubling of international climate finance to £11.6 billion over 2021-2025, setting a clear benchmark for the international community. The UK commends Bangladesh for setting up the domestically resourced Bangladesh Climate Change Trust Fund financing nationwide adaptation and mitigation climate action projects.

The Business Standard: After years of stagnation and failure, Bangladesh seem to be on the right track in T20Is

  • Bangladesh's 3-0 win in the T20I series against current T20 world champions England might look impressive on paper, but what's been really impressive is the manner in which they won.

  • Under the captaincy of Shakib Al Hasan, Bangladesh selected a team full of youth and vigour and that translated to some of the best fielding they've produced in their history.

  • Lack of playing the format coupled with players leaving for the rebel T20 tournament, the Indian Cricket League (ICL), in 2008 can be attributed to the team struggling in those years.

CNBC: India-Bangladesh Friendship Pipeline to be inaugurated tomorrow — key features of the project

  • The India-Bangladesh Friendship Pipeline (IBFPL) will be transporting 1 Million Metric Ton Per Annum (MMTPA) of High-Speed Diesel (HSD) to seven districts in Northern Bangladesh. Here are some key features of the projected to be inaugurated by Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina.

The Daily Star: Growth and sustainability during the economic transformation of Bangladesh

  • The summit not only focused on Bangladesh's economic achievements and investment opportunities, rather other critical factors for a transforming economy with a trillion-dollar GDP ambition such as digitalisation, skill development, empowerment and sustainability were also highlighted. After the formal inauguration and global media sessions with CNN, the second and third day of the summit featured discussions on issues that will be critical for business growth such as SME development, Circularity, Women Empowerment, Export Diversification etc.

  • "We are aiming to become a trillion-dollar economy by 2041 but the transformation should be well planned so that the growth is sustainable. Bangladesh is a victim country to climate change and as our economy grows, there will be more concerns. Our future growth plans should be responsible so that we address the issues during the design phase because the most effective way to ensure sustainable development is to consider it during the design phase," remarked FBCCI President Mr. Md. Jashim Uddin.

Fleetmoon: NYK Sends First Ship For Green Recycling in Bangladesh

  • The ship, called KAMO, was sold by NYK, and was beached at the company's facility in Chattogram on March 9th. The sale is seen as a positive development for the industry, which has come under fire in recent years due to concerns over working conditions, lack of protection for workers, and pollution.

  • According to PHP's Managing Director, Mohammed Zahirul Islam, achieving these certifications required an investment of over $11 million and 12 years of intensive hard work. The ship recycling facility has 500,000 square feet of space at the edge of the Bay of Bengal, and has a capacity of 160,000 metric tons of Light Displacement Tonnage (LDT).

  • More than 80% of shipbreaking yards in Bangladesh have been closed down in the past three years due to industry pressure stemming from environmental concerns, low prices, and inherent financial challenges due to Bangladesh's struggling economy. However, the certification obtained by PHP and other shipbreaking yards in the country could help to attract more business to the industry, especially as environmental standards become increasingly stringent.

The Daily Star: A fresh climate change accord between Bangladesh and the UK

  • This week, the United Kingdom Minister for Asia Pacific Anne-Marie Trevelyan visited Bangladesh and signed a Climate Change Accord with the Bangladesh government to join forces to tackle climate change. The discussion for this accord started at the 2021 COP26 in Glasgow when Prime Minister Sheikh Hasina was present.

  • As the UK and Bangladesh celebrate half a century of close bilateral relations, it is a good time to take this relationship to the next level by collaborating to tackle the joint global challenges of climate change and rising poverty.

The Business Standard: Gig economy to create significant new jobs: Mashiur Rahman

  • The gig economy will create a significant number of new jobs in Bangladesh, Prime Minister's Economic Affairs Adviser Dr Mashiur Rahman said today.

  • As new technologies come out, people are becoming more interested in concepts such as "gig economy". Freelancers have initiated the trend of the gig economy in Bangladesh.

  • Dr Zaidi Sattar, chairman of the Policy Research Institute of Bangladesh (PRI), presided over the session while BIISS Research Director Dr Mahfuz Kabir, Bangladesh Association of Contact Centre and Outsourcing (Bacco) President Wahid Sharif, Apex DMIT Ltd Founder and CEO Mike Kazi, among others, spoke at the event.

The Business Standard: 'Beza will add $40b to the economy by 2030'

  • The government aims to establish 100 economic zones across the country by 2030 to achieve industrial self-sufficiency, decentralisation and 1 crore employment target. The Bangladesh Economic Zones Authority (Beza), established in 2010, is working towards that goal. Several economic zones have already been developed in which local and foreign companies have invested. Beza Executive Chairman Shaikh Yusuf Harun tells The Business Standard's Abbas Uddin Noyon and Jahir Rayhan about the latest developments and investment status of the economic zones.

  • There are six types of economic zones, including public, private, public-private partnership (PPP), and government-to-government (g2g). These zones, except the government ones, are being developed according to demand.

  • Two g2g zones with India are awaiting the start of work. We had our first negotiation meeting with the developer company for the Chinese Economic Zone. The Developing Eight (D8) Secretariat has proposed another one for member countries.

Bloomberg: Russia Seeks Direct Fund Transfers, Easier Trade With Bangladesh

  • Russia has asked Bangladesh to open a direct payment channel between their central banks to facilitate fund transfers hampered by sanctions against Moscow because of its war in Ukraine.

  • Russia is pushing for an alternative payment system after the South Asian nation failed to transfer a repayment for an initial $500 million loan for preparatory work on a multi-billion dollar nuclear plant, two people with knowledge of the matter said, seeking anonymity because the talks were private.

The Business Standard: First fully recycled textile fashion brand launched in Dhaka

  • Items by Re/DRESS are designed and made in Bangladesh; and will be available at Friendship Colours of the Chars, Yellow and soon at the Taaga shop-in-shop inside the Aarong Tejgaon multi-brand outlet.

  • As a social enterprise, Re/DRESS promotes responsible fashion. The brand has been designed to promote Bangladesh as one of the largest cotton recycling hubs in the world.

The Business Standard: $0.5bn could be saved annually by recycling textile wastes

  • Bangladesh will be able to save nearly $500 million in yarn imports annually if the country can recycle all cotton textile wastes locally, said apparel industry experts.

  • The Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh, in collaboration with sustainable fashion platforms and the Nordic embassies, organised the event at the Sheraton Dhaka hotel in the capital on Tuesday.

  • In his speech as the chief guest, Salman F Rahman, Private Industry and Investment Adviser to the Prime Minister, said the apparel sector of the country is the safest sourcing destination because of the collaboration of the government, brands, buyers, and manufacturers.

The Business Standard: Empowering working mothers: Overcoming the motherhood penalty

  • As we strive for gender equality in the workplace, Begum Rokeya's question remains relevant: "How far can a person walk with one leg tied?" Without equal participation from both men and women, the economy cannot reach its full potential.

  • According to a report generated by the Bangladesh Bureau of Statistics titled "Gender-Based Employment and Wage," the representation of women in public administration was only 19.62 percent, whereas in field administration, it was slightly higher at 22.64 percent in 2021.

The Daily Star: Metro rail: Kazipara and Mirpur 11 stations to open March 15

  • Metro rail authorities will open Kazipara and Mirpur 11 stations on March 15, and Uttara South and Sewrapara stations in the last week of this month.

  • MAN Siddique, managing director of Dhaka Mass Transit Company Ltd, revealed the information at a press conference today

The Business Standard:

Biz Summit ends with high investment hopes

  • Bangladesh can now expect more foreign investments into the country's infrastructure, healthcare, education, ICT and apparel sectors as it has successfully shown the world its capacity and advantages in the Bangladesh Business Summit 2023, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

  • At the press conference, he highlighted three main reasons for the increase in investment in Bangladesh including geographical location, the huge local market and a large young workforce.

The Business Standard: BD Finance profit drops 8.2% due to higher provisioning, interest suspension

  • According to the company's disclosure on the Dhaka Stock Exchange (DSE) on Tuesday, its profit fell because of providing additional interest suspense, higher provisions against stressed loans, leases and advances, and lower income from investments in securities.

  • 2022 was a tough year for all the lenders as loan repayment was not up to the expectation due to the stress on their clients' businesses, he said, adding that BD Finance's non-performing loans (NPL) increased a bit that required higher provisioning.

  • BD Finance's brokerage subsidiary posted little higher profits while its merchant banking subsidiary faced earnings decline in 2022.

  • The NBFI, along with its subsidiaries, posted an earnings per share of Tk1.25 for 2022 while the net asset value per share stood at Tk17.41 at the year end.

The Business Standard: Okay with wheat import for now, drought, heat waves future worries

  • Importers are preparing to make the best use of the extended period of the Black Sea deal as Bangladesh's wheat purchase has dropped by a third since 2020 due to Covid-19 and the Russia-Ukraine war.

  • A ray of hope lingers as an official team secured some commitments for a supply deal during its recent visit to Argentina, Bangladesh's single biggest source of soybean oil after Brazil.

  • Excessive delays in ship inspection when entering and leaving the Black Sea ports and persisting dollar crisis may limit the expected gains from the deal extension, other grain importers said.

The Daily Star: FMCG companies bullish about further growth

  • Local and international fast-moving consumer goods (FMCG) companies are bullish about growth opportunities in Bangladesh's consumer goods market on the back of a middle-class set to surge in size.

  • The number of people belonging to the middle and affluent class is projected to increase from 12 million, or 7 per cent of the population, now to 34 million by 2025, according to a paper of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

  • The three-day summit, organised by the FBCCI, aims at showcasing the country's progress and potential to both global and local investors.

  • The market size of consumer goods in Bangladesh is $3.6 billion with an annual growth rate of 9 per cent, said the FBCCI paper.

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