Page 67 - Bangladesh

IMF team flags risks to Bangladesh economy as reserves fall further

The IMF will conduct the first review of its Extended Credit Facility, Extended Fund Facility and Resilience and Sustainability Facility arrangements later this year, the press release said

Centre likely to shelve plans to export methanol to Bangladesh

Centre refocusing on 15% methanol-blended petrol strategy under NITI Aayog's national plan

India-owned NTPC's installed capacity in Bangladesh reaches 72,304 MW

State-owned NTPC Ltd on Wednesday said its installed capacity at the group level has reached 72,304 MW-mark post addition of unit 1 of Maitree Super Thermal Power Plant (MSTPP) in Bangladesh. "NTPC Group has reached a significant milestone in the power sector, with an installed capacity of 72,304 MW. This achievement includes the recent addition of Unit-1, a 660 MW capacity, of the 1,320 MW (2x660) MSTPP located in Rampal, Mongla, Bagerhat, Bangladesh," the power giant said in a statement. This marks NTPC's first overseas capacity addition. The project was executed in collaboration with the Bangladesh-India Friendship Power Company Pvt Ltd (BIFPCL), a foreign joint venture company of NTPC Ltd. After obtaining the required norms and approvals, Unit 1 of MSTPP is included in the installed and commercial capacity of NTPC Group.

328 people killed in Bangladesh road crashes during Eid festival rush

565 others injured in 304 road accidents within 15 days, from April 15 to April 29, during the Muslim Eid al-Fitr festival rush in Bangladesh

World Bank approves $1.25 bn financing for Bangladesh for 2023-27

It approved $250 million for a project on microenterprise to help transform the micro-enterprise sector into a more dynamic, less-polluting, resource-efficient, and climate-resilient growth sector

India, Bangladesh agree to settle bilateral trade transactions in rupee

A delegation from the Reserve Bank of India (RBI) and the State Bank of India (SBI) visited Dhaka in April to discuss transaction processes between the two nations

Garment factories in Bangladesh at increased fire risk as temperatures soar

A severe heat wave, with temperatures touching 42 degrees Celsius, is sweeping parts of Bangladesh and is likely to continue, according to the Met Office

'Declare Bay of Bengal as Zone of Peace to keep geopolitical issues aside'

The Bay of Bengal has witnessed numerous non-traditional security threats, such as human trafficking, narcotics trade, tsunamis and cyclones. However, thus far, it was never a geopolitical hotspots

Steps taken to implement Act East policy for NE, Bangladesh: Reddy

Emphasizing close ties between India's Northeast and Bangladesh, DoNER Minister G Kishan Reddy on Tuesday asserted that the Narendra Modi government has taken concrete steps to implement the Act East policy for mutual benefits. The Bay of Bengal is very close to the Northeast and there is a need for cooperation from its immediate neighbour, Bangladesh, for development of the region, he said during the third India-Japan Intellectual Conclave here. Highlighting the Modi government's efforts for developing connectivity, Reddy mentioned the number of airports in the region has increased from nine in 2014 to 17 in 2023. Rs 5 lakh crore has been spent for growth in the region, Rs 1 lakh crore has been spent for road works and Rs 77,000 crore has been invested in railway connectivity in the past nine years, he said. Reddy said Union Home Minister Amit Shah launched a vibrant village project in Arunachal Pradesh on Monday. The central government has set a target of covering all the isolat

Bangladesh's forex reserves fall to around 6-year low to $31.14 bn

Forex reserves equivalent to six months' import bills are considered adequate for a growing economy like Bangladesh

Adani Power begins electricity supply from Godda plant to Bangladesh

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. Adani Power Ltd (APL), a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The plant has started with supplying 748 MW of power to Bangladesh, a company statement said. The electricity supplied from Godda will significantly improve the situation in the neighbouring country as it will replace expensive power generated from liquid fuel, bringing down the average cost of power purchased, it stated. The Godda Power Plant is a strategic asset in the India-Bangladesh's long-standing relationship, said S B Khyalia, CEO of Adani Power, in the statement. It is the first power plant in the country, which has started its operations from Day One with 100 per cent Flue Gas Desulphurization (FGD), SCR and Zero Water Discharge, it stated. In November 2017, Bangladesh Power Development

Eight killed in Bangladesh following clashes between ethnic outfits

At least eight people were dead and scores injured after violent clashes broke out between two ethnic outfits in the rugged terrains of Bandarban district in Bangladesh, sparking panic and forcing locals to flee their homes, police said on Friday. The incident took place on Thursday night in Rowangchhari upazila in Bangladesh's south-eastern Bandarban District, which is a hotbed of insurgency. Clashes and gunfire were witnessed in a remote corner of Roangchhari upazila (sub-district) of Bandarban on late Thursday. We have recovered eight bodies from the scene, police officer Abdul Mannan said. Mannan said the bodies were brought to the upazila headquarters on Friday for autopsy and other legal formalities. Police said nearly 200 people fled their homes following the clashes, fearing violence among feuding groups, and took refuge at an army camp at Roangchhari. The reason for the clashes is not known. But police suspect the incident involved members of the newly-formed outfit cal

Strong structural reforms can help Bangladesh sustain growth: World Bank

Improving trade competitiveness for export diversification will be critical to achieving Bangladesh's aspiration of upper middle-income status by 2031

Massive fire erupts at Bangladesh's biggest wholesale market in Dhaka

A massive fire erupted at the Bangabazar in Dhaka -- the biggest wholesale market in Bangladesh, officials said, adding that that the blaze has spread to more than six buildings

China's footprint expands in Bangladesh in spite of an India-friendly govt

The growing Chinese influence in India's neighbourhood, already evident in Sri Lanka and Nepal, is now also palpable in Bangladesh

Oil pipeline with India to play vital role in fuel security: Bangladesh PM

Prime Minister Sheikh Hasina has said that her country's first cross-border oil pipeline with India will play a vital role in ensuring fuel security in Bangladesh at a time when the world was facing a serious energy crisis due to the Ukraine war. Hasina said this while virtually inaugurating with her Indian counterpart Narendra Modi the 131.5-km Bangladesh-India Friendship Pipeline' on Saturday. Terming India a "true friend" of Bangladesh, Hasina said she wanted this friendship to remain intact. The pipeline costing Rs 377 crore is part of energy sector cooperation between the two neighbouring countries through which Bangladesh will import petroleum, especially diesel from India. When many countries across the world are on the verge of a fuel crisis due to the Russia-Ukraine war at that time this pipeline will play a vital role in ensuring the fuel security of our people, Hasina said. "The friendship pipeline is a milestone achievement in cooperation for the development between th

Oil pipeline with India vital for fuel security in Bangladesh: PM Hasina

Prime Minister Sheikh Hasina said on Saturday that her country's first cross-border oil pipeline with India will play a vital role in ensuring fuel security in Bangladesh at a time when the world was facing a serious energy crisis due to the Ukraine war. Hasina said this while virtually inaugurating with her Indian counterpart Narendra Modi the 131.5-km Bangladesh-India Friendship Pipeline' on Saturday. Terming India a "true friend" of Bangladesh, Hasina said she wanted this friendship to remain intact. The pipeline costing Rs 377 crore is part of energy sector cooperation between the two neighbouring countries through which Bangladesh will import petroleum, especially diesel from India. When many countries across the world are on the verge of a fuel crisis due to the Russia-Ukraine war at that time this pipeline will play a vital role in ensuring the fuel security of our people, Hasina said. "The friendship pipeline is a milestone achievement in cooperation for the development ..

Mahindra unit in Bangladesh winds up operations, ceases to exist

Mahindra & Mahindra on Tuesday said its wholly-owned unit Mahindra Bangladesh Pvt Ltd has ceased to exist. Mahindra Bangladesh Pvt Ltd (MBPL) convened the final extraordinary general meeting of its shareholders on March 14, 2023 and approved the final voluntary winding up, Mahindra & Mahindra (M&M) said in a statement. Hence, MBPL has been liquidated and has ceased to be in existence with effect from March 14, 2023, it added. MBPL had zero income from operations as on March 31, 2022. The net worth of MBPL, as on March 31, 2022 stood at Rs 3.18 crore, constituting 0.01 per cent of the consolidated net worth of the Mumbai-based auto major, M&M noted. The shareholders of MBPL, at a meeting held on September 14, 2022, had passed a resolution proposing winding up of the unit and appointment of a liquidator for completing the process of winding up. Thereafter, MBPL did not undertake any business operations. M&M had incorporated MBPL in 2019 to carry multiple activities, .

PM Modi, Hasina to launch Rs 377-cr cross-border oil pipeline on March 18

The 130-km-long friendship pipeline on West Bengal border will transport diesel from Numaligarh Refinery in Assam

16 killed, over 100 injured as explosion rocks building in Dhaka

At least eight people were killed and over 100 others injured on Tuesday in an explosion at a seven-storey building here in Bangladesh's capital, police said. Five firefighting units were rushed to the spot after the blast, which occurred around 4:50 pm (local time), the bdnews24 news portal reported, citing the fire service control room. The cause of the explosion could not be known immediately. The injured were taken to Dhaka Medical College Hospital, said DMCH police outpost Inspector Bacchu Miah. He added that all of them were receiving treatment at the hospital's emergency unit. The building has several stores for sanitary products on the bottom floor and a branch of BRAC Bank was located in the building adjacent to it. The blast shattered the glass walls of the bank and also damaged a bus standing on the opposite side of the road, reports said.