Remittance outflow crosses $100m — thru legal channel

Outward remittances from Bangladesh through legal channels crossed the $100-million mark for the first time in 2021 as more foreigners are working in the fast-growing economy, data from a global organization showed. Foreigners remitted $101 million last year, up 6.3 per cent from $95 million in 2020, according to the new estimates of the World Bank’s Global Knowledge Partnership on Migration and Development (KNOMAD). It was $32 million in 2015, $41 million in 2016, $47 million in 2017, $57 million in 2018, and $83 million in 2019. Outgoing remittances accounted for 0.02 per cent of Bangladesh’s gross domestic product (GDP) in 2021. However, the data does not capture the real scenario of remittance going out of Bangladesh since many foreigners work here illegally. Some 90,000 foreigners are employed in Bangladesh following due procedures, according to a study report of the Transparency International Bangladesh (TIB) in 2020.

Source: https://www.thedailystar.net/business/economy/news/remittance-outflow-crosses-100m-thru-legal-channel-3205081

Metro rail set to open ending 18 years of wait

The much-awaited metro rail, which was envisioned in the strategic transport plan introduced in 2005, is finally set to be inaugurated on 28 December, making Bangladesh the third country in the Indian Subcontinent with the mass rapid transit system. Prime Minister Sheikh Hasina will officially open the metro rail service from the capital’s Uttara to Agargaon, ending 18 years of wait for the Dhaka dwellers. The state-of-the-art transport will be open for the masses from the following day. Passengers will board from the terminal built on the second floor after buying a ticket from the first. After reaching the destination, they will need to use the ticket again to leave the platform. Prior to the opening of the 11km line of MRT Line-6, Dhaka Mass Transit Company Limited (DMTCL), the owner and operator of the metro rail, has issued various instructions to inform the public about how to use the service including entry to metro rail stations and purchase tickets. DMTCL is also running a campaign to enlighten the masses about dos and don’ts in the station area.

Source: https://www.tbsnews.net/bangladesh/transport/metro-rail-set-open-ending-18-years-wait-557898

REHAB Fair ends: Sales, bookings fetch Tk 3.51b

Real estate companies have bagged bookings and spot sales worth over Tk3.51 billion at the five-day housing fair that concluded on Sunday. The figure includes Tk1.68 billion against flats sales or booking, Tk800 million against plots and Tk530.73 million against commercial spaces and rest for building materials. Besides, bank commitments worth Tk10 billion were received at the fair. Organisers of the fair, Real Estate & Housing Association of Bangladesh (REHAB) office-bearers disclosed the figures at a press conference held at the fair venue. The five-day REHAB Housing Fair-2022 was held at Bangabandhu International Conference Centre (BICC) in the city’s Sher-e-Bangla Nagar area. REHAB Vice President Kamal Mahmud, Vice President and Chairman of the Fair Committee Engineer Mohammad Sohel Rana and Vice President Lion Sharif Ali Khan were present at the press conference, among others. Mr Shohel Rana said the city people’s interest in the REHAB Fair has been highly encouraging for the real estate sector. “Most of the entities participate in the fair basically for branding rather than sales,” he said, adding the goal has been successful.

 Source: https://thefinancialexpress.com.bd/trade/rehab-fair-ends-sales-bookings-fetch-tk-351b-1672027650