Potato exports surge on subsidy boost

Potato exports surged 71 percent to 16,570 tonnes in the first ten months (July-April) of the current fiscal year, exceeding the total quantity of the tuber exports last year, according to the Plant Protection Wing of the Department of Agricultural Extension (DAE).The buoyancy in exports came after the government, in February, promised to double cash subsidy for potato exports to 20 percent to help farmers recover from losses caused by a slump in prices amid a...

Inflation affects development goals, says economist

Rising inflation affects the development goals of the country, said a leading economist yesterday. The government must contain inflationary pressure to safeguard the economy from any major harm, he said. Mustafa K Mujeri, director general of Bangladesh Institute of Development Studies, said the prices of commodities are increasing gradually, which have to be brought under control. "If it continues, our target to reach millennium development goals (MDGs) may be delayed...

Friends of Grameen sad at SC decision

Friends of Grameen yesterday said it is deeply disappointed and saddened by the decision of the Supreme Court of Bangladesh that upheld the central bank's decision to remove Professor Muhammad Yunus from Grameen Bank. The Supreme Court yesterday rejected two appeals made by Grameen Bank and nine of the directors of its board, challenging the High Court decision to remove Prof Yunus as managing director, for exceeding mandatory retirement age. "Today, we are extremely...

ESCAP projects 6.4pc growth for Bangladesh

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) yesterday projected the economy of Bangladesh to grow 6.4 percent in 2011."The expected growth is to be supported by improved growth in the agricultural sector, recovery in export growth with diversification into new markets, including the emerging economics, and an improved situation in power and gas supplies," said a survey by ESCAP styled Economic and Social Survey of Asia and...

Indo-Bangla trade fair kicks off in Dhaka

Industries Minister Dilip Barua yesterday urged the Indian entrepreneurs to invest more in Bangladesh, saying that a liberal investment policy for the foreign investors prevails here. Barua said this while addressing the inaugural session of the second India-Bangladesh Trade Fair-2011 at Sonargaon Hotel in Dhaka."Our vision is to make an industrialised Digital Bangladesh by 2021. In order to materialise our dream, we have been pursuing a liberal investment and...

IBCF re-elects top brass

Islamic Banks Consultative Forum has recently re-elected Abu Nasser Muhammad Abduz Zaher chairman and Md Nazrul Islam Mazumder vice chairman for 2011, the body said in a statement yesterday.The election took place at the head office of Islami Bank Bangladesh in Dhaka on April 28.Chairman of Islami Bank Bangladesh, Zaher is a postgraduate in English from Rajshahi University. He is also the managing director of Ibn Sina Pharmaceuticals Ltd, chairman of Industrialists...

Crown Agents' CEO due in town

Terence Jagger, chief executive of Crown Agents', is scheduled to arrive in Bangladesh tomorrow on a three-day visit, said a statement yesterday.During his first tour to the Asian region, he will meet government officials, international financial institutions and other development partners to gain a deeper understanding of the region.Jagger will also deliver the opening address at a seminar on public financial management, sponsored by Crown Agents Foundation,...

Poorest at most risk from 10b world population

There may be 10 billion mouths to feed within a few generations. The United Nations sees the world's population hitting that landmark by 2100. Without efforts to change the pattern, the poorest countries will face the worst effects of the demographic drain.Compared with its last effort two years ago, the new U.N. forecast both increases population projections and delays the date by which the global population will peak and begin to decline. Previously this was...

Ericsson, Aircel team up on mobile positioning systems

Indian mobile operator Aircel has selected Ericsson to provide mobile positioning systems for its 2G and 3G subscribers, Ericsson said in a statement yesterday.Aircel users can now get real-time tracking, navigation information and information services while on the move. As part of the three-year contract for supply and support, Ericsson will supply its mobile positioning centre to Aircel."There is huge potential in offering this value-added service to our customers....