Business leaders to hoist white flags with calls for political peace (The Daily Star, December 12, 2013)
The business community will take to the streets across Bangladesh for half an hour on Sunday, protesting the political trouble that is ruining the economy. They will stand on the roads in front of all district chambers and associations, shop owners’ association and business houses from 11:30 am to 12 noon, carrying white flags, to demand an end to the ongoing instability and seek a business friendly environment. Top leaders of the Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Textile Mills Association and Bangladesh Chamber of Industries, and Bangladesh Knitwear Manufacturers and Exporters Association called for the programme. This will be the second time in two weeks that the businesspeople are taking to the streets since December 7.
Over 300 realtors in business sans Rajuk permission (Financial Express, December 11, 2013)
More than 300 developers and housing companies are engaged in real estate business without any valid permission from the Rajdhani Unnayan Kartripakkha (Rajuk), which is resulting in more people being cheated while buying land. As per the existing provision, any land development and housing company is required to register with the Rajuk, the development authority of the capital city of Dhaka, before doing any real estate business in areas under the city. According to official sources, more than 313 companies are involved in land business, of which only 13 companies have got the final approval from the Rajuk on 28 of their housing schemes.
Apartment sales drop by half on political unrest (The Daily Star, December 10, 2013)
Apartment sales fell by a half in recent times due to the ongoing political turbulence, creating a cash crunch in the housing sector. According to realtors, most construction projects have been kept on hold as the developers cannot bring raw materials due to blockades. “We have been hit hard by the political unrest. Our transactions have reached a record low,” said M Wahiduzzaman, general secretary of Real Estate and Housing Association of Bangladesh (REHAB).
BD at risk of losing EU fresh produce market (Financial Express, December 10, 2013)
The UK-based organisation GM Freeze (GMF) has called upon Bangladesh government to review its decision on commercialization of genetically modified crops to protect local farmers and exporters from the risk of losing their business. GMF said the UK imports some 40 per cent of Bangladesh's fresh produce exports, worth around US$31.18 million per year. GMF has urged the President, Prime Minister, and ministers for commerce and environment, to revert the decision of commercializing GM brinjal (aubergine) to protect Bangladeshi farmers and exporters from the serious risk of losing their business at the EU market. GMF is a campaign on GM foods, crops and patents. Its web-portal is widely acceptable to the businesses in the UK and elsewhere in the globe.
WTO adopts historic trade reform deal (Dhaka Tribune, December 8, 2013)
The world Trade Organisation (WTO) has adopted its first ever trade reform deal in a historic move concluded in Bali, Indonesia with Bangladesh reaping its desired outcome for a greater duty-free and quota-free market access in the developed and developing countries. The objectives of the deal is to slash red tape at customs around the world, give improved terms of trade to the poorest countries, and allow developing countries to skirt the normal rules on farm subsidies if they are trying to feed the poor, WTO said, releasing the draft on the last day of the four-day meeting.
Bangladesh's CPI ranking improves but only slightly (Financial Express, December 6, 2013)
Bangladesh has improved its ranking on the Corruption Perception Index (CPI) as introduced by the Berlin-based Transparency International (TI) by just one point compared to that of last year. It has been placed in the 136th position this time. Among 177 countries covered by the TI, Bangladesh finds itself in the 16th slot from the bottom bracketed with Ivory Coast, Guyana and Kenya. The extent of corruption prevalent in a country is dependent primarily on the lack of good governance. And surprisingly no country in the world could score 100 out of 100 on a scale of 0-100. This year Denmark and New Zealand jointly score the highest 91 to grab the number one slot. From Asia, Singapore occupies the 5th place with a score of 86.
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