Dhaka, Jan 11 – Dhaka awaits financial support from the Asian Development Bank (ADB) to a 50MW floating solar project in the Kaptai Lake in the Rangamati Hill District on Southeast Bangladesh, official sources say.
Category: Finance
Stopping criminals from laundering their trillions
Al Capone had a problem: he needed a way to disguise the enormous amounts of cash generated by his criminal empire as legitimate income. His solution was to buy all-cash laundromats, mix dirty money in with clean, and then claim…
Cordyceps, Himalayan Viagra kindles fortunes, begets plunder
by Manu Moudgil on 4 January 2019 • Cordyceps, a caterpillar fungus found in alpine pastures of the Himalayas, is a highly valued aphrodisiac commonly known as “Himalayan Viagra”.
GOP, Democrats trade blame for shutdown – no deal in sight
The partial government shutdown will almost certainly be handed off to a divided government to solve in the new year, as President Donald Trump sought to raise the stakes Friday and both parties traded blame in the weeklong impasse.
Additional EU aid for Rohingya refugees reaches Bangladesh
Brussels, 10 Dec 2018 – The European Commission has released an additional €5 million to provide life-saving food assistance to the Rohingya communities stranded in Bangladesh.
Poor progress: No finance pledge at COP24 in Katowice
Implementation of the Paris Agreement on climate change is in limbo as developed countries remain noncommittal to financial obligations at the ongoing negotiations in Katowice, Poland.
Nonrecorded Filipino workers assistance program ends Tuesday
The deadline for illegal Filipino workers, including housemaids, to benefit from their country’s Financial Assistance Programme ends tomorrow.
World Bank Gr announces $200bn over 5 yrs for climate action
Funding for 2021-2025 includes a significant boost for adaptation and resilience Washington DC – December 2018 –The World Bank Group this week announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200…
Lower courts can grant bail in money laundering cases: HC
Dhaka, Dec 5 – In a majority view, a larger bench of the High Court on Thursday observed that the lower court could grant bail to the money laundering cases accused persons in accordance with the law.
Migrants send record remittance but overall poverty pertains
At the end of this year, migrants will have sent 466 billion dollars to family and friends in their countries of origin. Despite this record amount these remittances have little to no effect on the dire economic state of affairs…
Global debt Is at its peak
In the second quarter of 2018 global debt reached a new peak, climbing to 260 trillion dollars ($260,000 billion). At the same time, the global debt to GDP ratio crossed the 320% threshold for the first time. Of that total,…
‘Funding Mechanism for Entrepreneurs’ workshop held in Dhaka
Dhaka, Nov 25 – A Workshop for startup founders and aspiring entrepreneurs on fundraising techniques titled ‘Funding Mechanism for Entrepreneurs’ was held in Dhaka on Sunday.
NGOs Call for disinvestments in biodiversity destruction
A discussion held earlier this week at the ongoing Convention of Biodiversity’s (CBD) Conference of Parties in Egypt highlighted that grants to curb deforestation in the Amazon are not enough if they are accompanied with investments that increase the loss…
Golden Globes group gives $300000 to wildfire victims
The Hollywood Foreign Press Association is giving $300,000 to help the victims of California’s deadly wildfires.
5pc increment for non-govt edu teachers, staff announced
Dhaka, Nov 8 – Prime Minister Sheikh Hasina on Thursday announced ‘Boishakhi Festival’ allowance and 5 percent increment for teachers and employees of non-government educational institutions, who are now under monthly pay order (MPO).
Is excessive sovereign debt a threat to peace?
Some 30 years ago, the international banks were afloat with petrodollars, deposited by the oil exporting countries. The banks in turn stepped up lending to Latin America, in a big way. The new branch of Société Générale in New York…
SC stays decision for return of Taka 6.1 billion of 16 cos
Dhaka, Nov 6 – The Appellate Division of the Supreme Court on Tuesday stayed its own order that upheld the High Court verdict asking the government to return Tk 615 crore collected from 16 companies and individuals during the army-led…
Seychelles issues world’s first blue bond to fund fisheries
The Republic of Seychelles announced on Monday that it has issued a 10-year blue bond to finance fisheries projects, making it the world’s first country to utilise capital markets for funding the sustainable use of marine resources.
‘Bangladesh shouldn’t rely too much on overseas borrowing’
Bangladesh needs to mobilise domestic investment alongside increasing it in infrastructure with ‘spillover tax revenues’ not relying too much on overseas money as infrastructural needs in Bangladesh remain enormous, says a global development expert.
Workshop on Entrepreneurship in city Nov 24, Seeks Application
Ra’dia Inc. in association with Bizz Solutions Ltd. (BSL) is set to organise a workshop titled ‘Funding Mechanism for Entrepreneurs’. The workshop will be held at the Seminar Room of BSL at City Centre in Motijheel between 2:30 pm and…
Is there a remittance trap?
Workers’ remittances—the money migrants send home to their families—command the attention of economists and policymakers because of their potential to improve the lives of millions of people.
Banks and FIs more than needed in number: Muhith
Dhaka, Oct 24 – Finance Minister AMA Muhith on Wednesday admitted that the number of banks and financial institutions has been much higher than the need.
Global FDI flows fell sharply in first half of this year
Geneva, 18 Oct (Kanaga Raja) – Global foreign direct investment (FDI) flows fell by 41%, from US$794 billion in the first half of 2017 to an estimated US$470 billion in the first half of 2018, the UN Conference on Trade…
Went for Padma Bridge work defying minister, adviser: PM
Dhaka, Oct 20 – Prime Minister Sheikh Hasina on Saturday said she went for constructing the Padma Bridge with own resources defying the strong opposition from her finance minister and an adviser.
EU brings relief to riverbank collapse victims in Bangladesh
Dhaka, 15 October 2018 – In response to the collapse of the Padma River embankment in the central Bangladeshi district of Shariatpur, the European Union is providing EUR 80 000 (BDT 7.84 million) in humanitarian aid funding to address the…
People’s Global Confce vows wider movement against IMF-WB
The Peoples’ Global Conference (PGC) against the IMF-World Bank have successfully concluded their activities on October 13, 2018, despite the repressive actions of the Indonesia government of Joko Widodo in complicity with the IMF-World Bank. More than 150 individuals representing…
IMF-World Bank ends meetings with call to brace for risks
Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions.
Hurricane victims in US getting IRS tax filing relief
Panama City, Oct 13 (AP/UNB) — The Internal Revenue Service says victims of Hurricane Michael will get a grace period before having to file some tax returns and payments. The IRS said Friday it’s offering the relief in parts of…
Rwanda leverages GCF Options to fast-track sustainable growth
By Aimable Twahirwa Kigali, Oct 12 2018 (IPS) – In a move to achieve its green growth aspirations by 2050, Rwanda has placed a major focus on promoting project proposals that shift away from “business as usual” and have a…
Effective watchdog to monitor BD Climate Change Trust Fund urged
Dhaka, Oct 11 – Members of parliament and representatives of government and non-government yesterday recommended the formation of a high powered representative commission led by the Prime Minister to ensure good governance in climate change funding.