Wednesday, September 26, 2012

September 27, Weekly News Clippings


Bangladesh again says no to TICFA (27 September 2012, The Daily Star) Bangladesh has again declined to sign the Trade and Investment Cooperation Framework Agreement proposed by the US.  The main point of contention is that, “The US wants immediate elimination of child and forced labour from all sectors and permission for trade union at factories, but Bangladesh wants to implement these conditions in phases.”  Bangladesh has made some advances on these fronts, however, and the US Department of Labor considers the garments industry to be free of child labor.

Outlook for exports brightens (25 September 2012, The Daily Star)
Analysts in a roundtable in Hong Kong said that the prospect for export growth for Bangladesh is bright. Bangladesh is taking a growing share of the global export market for textiles, footwear and many hard goods. Rising costs and a tightening labour market elsewhere in the world are leading global consumer marketing executives to reassess their sourcing strategies and explore new locations across Asia.


Use tourism for economic development (23 September 2012, The Daily Star)
Given Bangladesh’s potential, ILO's tourism expert says that Bangladesh needs to present its tourist offerings more attractively to make the most of the growing number of tourists visiting the least developed countries as Bangladesh. Tourism is increasingly being recognized as a major source of economic growth in developing countries.


StanChart wins best retail bank award (23 September 2012, The Daily Star)
Standard Chartered Bank Bangladesh has won the "Best Retail Bank in Bangladesh" award for 2011. The Asian Banker, a research and intelligence company, gave the award at the International Excellence in Retail Financial Services 2012 Awards ceremony. The combination of robust infrastructures, comprehensive offerings and focus on relationship development is key to the bank's 25 percent income growth in 2011.


Target clean project (22 September 2012, The Daily Star)
With a new approach to ensure quality work and prevent corruption, the long-cherished Padma Bridge now appears to be moving forward. Donor agencies and the government are now negotiating the final arrangements after the World Bank’s announcement that it would revive its $1.2 billion credit deal for the project.   Nonetheless, economists say that the Padma episode has weakened Bangladesh's image globally and the accountability issue will become more important for any foreign-aided project in the future.  More practically, the delay in construction is now forcing the government to spend an extra Tk 100 crore to protect an area of the bridge site from river erosion.

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