Weekly News Clippings (January 23, 2014)

1.0m ultra-poor families will have to be lifted up every year (The Financial Express, January 23, 2014)
Bangladesh will be required to lift at least one million families out of extreme poverty each year, to eradicate poverty by 2021, said speakers at a workshop organised by the Food Security of Ultra Poor (FSUP) project to mark its formal closure. The FSUP scheme was a five-year promotional safety net programme funded by the European Union (EU) to improve the livelihood and food security of 135,000 of the poorest and most vulnerable women in Bangladesh. The total cost of the programme was 43.5 million euros, of which EU contributed 36.5 million euros and the remaining was co-funded by the four partners -- World Food Programme (WFP), International Cocoa Organisation (ICCO), CARE (Cooperative for Assistance and Relief Everywhere), and Islamic Relief.


Bharti Airtel to sell Bangladesh towers (New Age, January 23, 2014)
Bharti Airtel will sell its Bangladesh tower assets (Airtel Bangladesh Ltd) to raise $2 billion. It has put the company's Bangladesh tower assets on its divestiture list as the world's fourth largest mobile telephony firm seeks to raise more than $2 billion from selling its infra networks to bolster cash reserves.

Biman gets $356m to buy two aircraft (The Daily Star, January 22, 2014)
The government yesterday approved a total of $356 million loans for Biman Bangladesh Airlines to give the national flag carrier a financial makeover by buying two wide-bodied aircraft in March. The carrier has been asked to prepare a 10-year business plan to become a profitable venture. According to the finance minister, Biman has not been able to live up to the expectations, mostly because the government did not provide it with the necessary support.


Cox's Bazar sees return of tourists (The Daily Star, January 22, 2014)
Tourists have begun to visit Cox's Bazar, as there is a recess in the shutdowns and blockades. Hotel occupancy rate, which had dropped severely over the last couple of months forcing many to declare closure, rose to 10-15 percent now, due to a much-needed break in the political turmoil. Around two lakh tourists flock each day to Cox's Bazar during the peak season of November through February. However, as of December last year, the number hardly crossed 10,000 a day.


ALRD and Transparency International Bangladesh to establish a Multistakeholder Land Platform for Land Governance and Corruption Monitoring(International Land Coalition Asia, January 21, 2014)
A partnership has been established between ILC member Association for Land Reform and Development (ALRD) and Transparency International Bangladesh (TIB). The two organizations have committed to work together to establish a better land governance and to combat corruption at various levels of land administration in Bangladesh.


No EU plan to scrap GSP: Envoy(The Daily Star, January 20, 2014)
The European Union has ruled out any possibility of cancelling trade preferences for Bangladesh following the country's January 5 parliamentary polls. The EU Ambassador William Hanna said that Bangladesh currently benefits from the most favourable conditions on trade, as no taxes or tariffs are imposed on the country's goods entering the 28-nation bloc. His comments came following a number of speculative media reports that the EU might reconsider its Generalised System of Preferences (GSP) for Bangladesh due to the polls boycotted by BNP, the country's principal opposition party.


Despite setbacks, Bangladesh beats India in garment exports(The Times of India, January 20, 2014)
Bangladesh has overtaken India in the readymade garment exports despite the recent setbacks such as  the Rana Plaza collapse and Tazreen fire. According to a study by Exim Bank, between January and October 2013, readymade shipments by Indian exporters to the US grew 6.3% to $3.2 billion, while Bangladesh jumped 11.4% at $4.9 billion. Bangladesh's garment exports increased from $6.8 billion in 2005 to $19.9 billion in 2012, recording a compounded annual growth rate (CAGR) of 16.6%. During the same period, India's outward shipments rose from $8.7 billion to $13.8 billion, a CAGR of just 6.8%.

186% growth in mobile financial transaction(Dhaka Tribune, January 20, 2014)
The quick and easy and mobile transaction has led to an overall growth of the country’s mobile financial transactions by 186% while the customer growth also expanded by 262% in 2013.  In January, 2013, the total number of transactions was around one crore and the total amount transacted was Tk2000 crore. And at the end of the year, total number of transactions and total amount transacted stood at three crore and Tk6642 crore respectively. Out of 28 banks that got permission for MFS service from Bangladesh Bank, 19 banks are so far delivering MFS services across the country. The mobile financial services were introduced in 2010 in a bid to bring the poor under banking activities and also to enable the Bangladeshi expatriates to send their remittances safely.


Govt to frame guideline for pvt TVs, online media: Inu(The Financial Express, January 19, 2014)
The government plans to frame a guideline for the operation of private TV channels and online news media. According to the Information Minister Hasanul Haq Inu, the government wishes to install video wings at Bangladesh Television (BTV), Bangladesh Sangbad Sangstha (BSS) and Press Institute of Bangladesh (PIB).


World Bank approves $410 mn for Bangladesh (TwoCircles.net, January 16, 2014)
The World Bank has approved $410 million to improve municipal governance and basic urban services in district towns and municipalities in Bangladesh, which will benefit 3.4 million people. According to a statement of the Washington-based bank, the project would provide financial support to 26 urban government bodies with high economic growth and job creation potential located along growth corridors leading from capital Dhaka towards four divisional cities and three district towns. The project aims to build roads, water and sanitation systems, markets, bus terminals and municipal services centres in the communities, said the statement. The country's urban population rose from 15 percent in 1980 to 28 percent in 2010.