By Jeffrey D. Sachs Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries. The latest shakedown is a $5.9 billion award against Pakistan’s government in favor…
Category: Economy
Bangladesh’s Brac world’s number 1 NGO for fifth year
Brac has been ranked the world’s number one non-governmental organisation (NGO) of 2020 by NGO Advisor, an independent Geneva-based media organisation. Brac, a leading development organisation based in Bangladesh, retained its top spot in part due to its robust leadership…
The trade unions organising migrant workers across Europe
by Bethany Staunton on 5th March 2020 @StauntonBethany Migrant workers are by nature more diverse than the indigenous workers among whom they find themselves. Organising strategies need to be diverse too.
Coronavirus exposes global economic vulnerability
By Anis Chowdhury and Jomo Kwame Sundaram SYDNEY and KUALA LUMPUR, Mar 4 2020 (IPS) – As the outbreak of the novel coronavirus COVID-19 threatens a global pandemic, major stock markets around the world have suffered their worst performance since…
Hard truths about the eurozone crisis
There has been little honest reflection within the European Commission about the eurozone crisis. Until now.
Asia shares bounce back as BOJ promises support for economy
Share prices in Asia bounced back Monday from last week’s retreat, with mainland Chinese indexes gaining more than 3% as data showed progress in restoring factory output after weeks of disruptions from the viral outbreak.
Fragility, conflict could stop the world from ending poverty
By 2030, up to two-thirds of the world’s extreme poor will live in fragile and conflict-affected situations, threatening to reverse development gains. The World Bank Group’s strategy aims to enhance its effectiveness on the ground by scaling up financing, tailoring…
SC upholds 20 ILFSL men’s bank accounts, passports seizure
Dhaka, Feb 26 – The Appellate Division of the Supreme Court (SC) on Wednesday upheld a High Court (HC) order directing the government to seize bank accounts and passports of 20 people of the shareholder directors and top executives of…
BD takes up Perspective Plan to implement Vision 2041
The National Economic Council (NEC) on Tuesday approved the country’s 2nd Perspective Plan 2021-2041, aiming to make Bangladesh a higher-income and developed country by 2041.
Private debt both cause and consequence of rights violations
Geneva, 21 Feb (Kanaga Raja) — High individual and household debt, which accounts for a significant portion of private debt in most countries, has been associated with inequality, macroeconomic instability, unsustainable sovereign debt and financial crises.
PM seeks more Japanese investment in power, energy sector
Prime Minister Sheikh Hasina on Monday sought more Japanese investment in power and energy sector of the country to meet the growing demand of electricity.
Govt loss Tk 120bn a year as cable TV operators under-report
The government loses Tk 10,000-12,000 in revenue every year as the cable operators are not digitised their services, said Information Minister Hasan Mahmud on Sunday.
Urban experts call flyovers an ‘irreparable damage’
Dhaka Feb 23 – Terming construction of flyovers in the city an ‘irreparable damage’ to the city, urban experts have called for taking pragmatic steps instead of spending huge money on such mega structures to improve the traffic situation.
Those who siphon off money are ‘state thugs’: Dr Kamal
Stating that those indulge in money laundering are ‘state thugs’, Gonoforum President Dr Kamal Hossain on Thursday urged all to get united to establish ‘effective democracy’ in the country to get rid of ‘plundering, fascism and anarchy’.
Financialization increases inequality
Kuala Lumpur/Penang, Feb (IPS/Jomo Kwame Sundaram and Michael Lim Mah Hui) — Financialization has worsened inequality through various channels, including macroeconomic policies. For example, quantitative easing and low, if not negative interest rates have fuelled credit and asset price bubbles,…
Ecnec clears 9 projects worth Tk 13,639.1 crore
The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved nine projects involving Tk 13,639.1crore, including a Tk 6,014.62 core project for enhancing the capacity of Mongla Port.
Fridays for Keynesianism
Peter Bofinger Keynes recognised the key role of the financial system in modern capitalist economies and Peter Bofinger argues the 2008 crisis must bring the demise of neoclassical economics—which still doesn’t.
‘Catch’ tax-dodging foreign workers: ACC chief
Anti-Corruption Commission (ACC) Chairman Iqbal Mahmood on Sunday asked the officials of the National Board of Revenue (NBR) to ‘catch’ the identified tax-dodging foreign nationals working in Bangladesh.
Work on shifting Rohingyas to Bhasan Char to start soon
Home Minister Asaduzzaman Khan Kamal on Saturday said the process of relocating one lakh Rohingyas from Cox’s Bazar camp to Bhasan Char will begin on completion of erecting barbed-wire fences around the Cox’s Bazar camp.
ADB provides $170m for capital market reforms in BD
The Asian Development Bank (ADB) has approved a second tranche loan of $170 million to conclude the Third Capital Market Development Program in Bangladesh.
The minimum wage in Germany five years on
When the minimum wage was introduced in Germany in 2015, there were febrile forecasts of huge job losses. These have proved minimal—while incomes and consumption have benefited.
20th century’s richest 5 worth 3 times current top 5 richest
Data gathered and calculated by Learnbonds.com indicates that the top five richest people of the 20th currently have a combined net worth of $1.62 trillion. With inflation adjustments, the data shows that this group had a cumulative net worth of…
All senior BD citizens to get old-age allowance by 2025
The government has a plan to bring the country’s all senior citizens under old-age allowance in phases by 2025, Social Welfare Minister Nuruzzaman Ahmed told Parliament on Tuesday.
3.6km of Padma Bridge now visible
About 3,600 metres of the much-hyped Padma Bridge became visible after the installation of the 24thd span on Tuesday.
Top 10 rich people worth more than 85 poorest countries GDP
Data gathered and calculated by Learnbonds.com indicates that the world’s top ten richest people have a combined wealth more than the bottom 85 poorest countries based on GDP. According to the data, the top ten richest people have cumulative wealth…
SC cancels HC verdict for regularizing jobs of 400 employees
The Appellate Division of the Supreme Court yesterday cancelled a High Court verdict that asked the government to regularize the job of at about 400 employees in revenue sectors, who were working in various projects under Bangladesh Rural Development Board…
As China sneezes, global economy gets the chills
Taiwan, Singapore, Thailand, Hong Kong hit hardest, bottlenecks in low-value parts threaten downstream units By Umesh Desai The coronavirus outbreak in China, which started in the city of Wuhan, has had analysts scrambling to lower growth forecasts across the board,…
What will it take for women to be equal at work in the UK?
Employers and policy-makers can drive real progress in improving women’s working lives.
Qatar reopens labour market for Bangladeshis
Qatar has reopened its labour market for Bangladeshi workers after a closure for several months.
Zia, Ershad, Khaleda weren’t serious about BD’s uplift: PM
Dhaka, Feb 05 – Prime Minister Sheikh Hasina on Tuesday said Ziaur Rahman, HM Ershad and Khaleda Zia were not serious about the development of country as they were not born on Bangladesh soil.