Padma Bridge progress comes under question

Execution progress on the Padma Bridge stands far behind the target that prompted the government to initiate reappraisal of performances of the mega-project’s two foreign contractors, sources said. They said the stocktaking move stemmed from concerns of the project authorities as half the project life is already spent up. The Padma Multipurpose Bridge Project (PMBP) office has already informed the respective headquarters about the “unsatisfactory” performance of China Railway Major Bridge Engineering Group Company Limited and Sinohydro Corporation Limited.

Source: http://www.thefinancialexpress-bd.com/2017/02/14/61783/Padma-Bridge-progress-comes-under-question

ADB to provide USD 800.0 million loan for LNG-based power plant

The Asian Development Bank (ADB) has assured the official agency concerned of providing nearly USD 800 million loan to it for setting up an 800-megawatt (MW) LNG-based power plant in Khulna, officials said Monday. Power Division officials said they held a meeting with the ADB Mission last week where the lender had assured them of the loan for the power plant project. A Consultation Mission from the ADB met the Power Division, Economic Relations Division (ERD) and other relevant agencies during its more than a week-long visit to Dhaka, they said. The North-West Power Generation Company Limited (NWPGCL) has taken the project to set up the power plant, to be run by liquefied natural gas (LNG). It will have dual-fuel provision so that the plant could also be operated by oil during any crisis of gas supply. Bangladesh is heavily dependent on its limited natural gas for generating power over the years. Since gas is depleting fast against the backdrop of its growing demand every year, the government has decided to set up power plants based on imported LNG, coal and oil. According to the NWPGCL, the LNG will be imported from India through a cross-border pipeline. To ensure uninterrupted fuel supply to the combined cycle power plant (CCPP), an 80-kilometre (km) gas transmission pipeline will be built under the project within the territory of Bangladesh.

Source: http://print.thefinancialexpress-bd.com/2017/02/14/164790

Apparel exports to US decline

Bangladesh’s apparel exports to the US, its single largest destination, declined 1.96% year-on-year to USD 5.5 billion, due to the volatile US economy and the recent presidential election. Bangladesh exported USD 5.92 billion worth of goods to the US in 2016, down from USD 6.0 billion a year ago, according to data from the US Department of Commerce. Garment items account for 95% of the goods exported from Bangladesh to the US market. Moreover, businessmen and traders adopted the “wait and see” strategy in 2016 for the probable changes to the major US policies relating to tariffs. Furthermore, there is a change in the attitude of the US consumers, who now prefer spending more on electronic gadgets compared to clothes, exporters said. Global apparel exports to the US declined 6.44% year-on-year to USD 104.72 billion in 2016 due to a fall in the buying capacity of the US consumers, said Mohammed Nasir, vice president of Bangladesh Garment Manufacturers and Exporters Association. More electronic gadgets are now sold in the US compared to the clothing items, he said. The US election has also impacted retail sales negatively, he said. All 9 out of 10 top apparel exporting nations of the world experienced negative growth in shipment to the US in 2016, according to the US Department of Commerce.

Source: http://www.thedailystar.net/business/apparel-exports-us-decline-1360366

Smartphone imports soar 46.0%

Smartphone imports through legal channel shot up 45.7% to 8.2 million pieces in 2016 from a year earlier, driven by the expansion of 3G services in Bangladesh. Mobile imports through the legal channel crossed the three-crore mark for the first time, said Ruhul Alam Al Mahbub, president of the Bangladesh Mobile Phone Importers Association (BMPIA), at a press conference held at it headquarters in the capital yesterday. It stood at 31.0 million, up 11.0% year-on-year, with the total value of the imports coming to about BDT 80.0 billion. Smartphone imports accounted for BDT 65.0 billion.

Source:
http://www.thedailystar.net/business/smartphone-imports-soar-46pc-1360750
http://www.newagebd.net/article/9107/smartphone-imports-increase-by-46pc-in-2016

GP fined for false offer

A government agency on Sunday fined Grameenphone Tk 2.50 lakh for duping a customer with an offer. The Directorate of National Consumer Rights Protection slapped the penalty on the operator after the hearing on a customer’s complaint. The Directorate’s Deputy Director Shaheen Ara Mamataz said the mobile operator agreed to pay the fine within five days. In October 2015, Abdullah Shibli Sadiq filed a complaint over an Eid offer that promised to give 2GB free data with 1GB at a cost of Tk 275, which would have to be used up in the next 28 days.

Source: http://www.thedailystar.net/business/gp-fined-false-offer-1360699

Banglalink to face punishment if found giving ‘false’ SIM info

Mobile phone operator Banglalink would face legal steps if it is found guilty of providing false information during SIM registration, reports Bangladesh Sangbad Sangstha. Bangladesh Telecommunication Regulatory Commission is looking into the issue seriously following the arrest of the official and vendors of Banglalink, a subsidiary of Netherlands based global telecommunication provider VimpelCom Limited, with fake documents. BTRC chairman Shahjahan Mahmood on Monday said they have taken the matter seriously that is why investigation is going on.

Source: http://www.newagebd.net/article/9110/banglalink-to-face-punishment-if-found-giving-false-sim-info-btrc

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