Germany will provide seven million euro as grant aimed at enabling an effective utilization of credit, promote workers’ safety and improve environmental standards in the country’s Ready Made Garments (RMG) factories. The amount would be given through Germany’s KfW and…
Category: Economy
China’s retail sales up 10.7 pct in April
China’s retail sales, a key indicator of consumption, grew 10.7 percent year on year in April, 0.2 percentage points slower than the March level, official data showed Monday. Total retail sales of consumer goods hit 2.73 trillion yuan (about 395.4…
China Invests $124bn in Belt and Road project
The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks. China’s President Xi Jinping has pledged $124bn (£96bn) for the scheme, known as the Belt and…
Amazon has made Seattle richer and angrier
Strolling through the bustling construction zone of Amazon’s urban campus in Seattle, you instantly recognize the charm offensive the company has aimed at its hometown. “Banistas” at two outdoor stands offer bananas to employees and passers-by — a visual cue…
Bangladesh economy resilient despite headwinds
Bangladesh’s economic growth remains resilient in spite of volatile export growth and a decline in remittances. A new World Bank report The Bangladesh Development Update May 2017 notes inflation has decelerated benefitting from soft international commodity prices and prudent macroeconomic…
Three local firms denied permit to invest abroad
Three local firms willing to invest abroad have failed to obtain government’s permission. The Cabinet Economic Affairs Committee in a meeting on Sunday turned down the proposals of Akij Jute Mills Ltd, Ha-Meem Group and Nitol-Niloy Group. The three local…
GDP growth record 7.27 percent likely
Breaking all the previous records, Bangladesh’s gross domestic product (GDP) growth has reached 7.24 percent this fiscal year buoyed by the robust growth in the industrial sector. “The GDP growth in the outgoing fiscal year (FY17) reached 7.24 percent which…
GDP growth hits 7.24 pc breaking all records
Dhaka – Breaking all the previous records, Bangladesh’s gross domestic product (GDP) growth has reached 7.24 percent this fiscal year. UNB news agency reported
BNP for linkage among BD education systems
Dhaka – BNP chairperson Khaleda Zia On Saturday emphasised on the need for establishing a link among the all education systems operating in Bangladesh to carry forward the country ahead.
Speaker for ensuring journos’ due privileges
Dhaka – Describing the mass media as the mirror of society, Speaker Dr Shirin Sharmin Chaudhury on Saturday underscored the need for ensuring the protection and privileges of journalists. UNB news agency reported
NEC likely to okay Taka 1, 53,331cr ADP for FY18 tomorrow
The Annual Development Programme (ADP) for the upcoming fiscal 2017-18 is likely to be approved in a meeting of the National Economic Council (NEC) tomorrow (Sunday). NEC Chairperson and Prime Minister Sheikh Hasina is expected to chair the meeting to…
Poor rural communities in Mexico receive a boost
By Emilio Godoy HuaqueChula – UAQUECHULA, Mexico, May 11 2017 (IPS) – Jilder Morales, a small farmer in Mexico, looks proudly at the young avocado trees that are already over one metre high on her ejido – or communal –…
More pain for department stores pulls US stock indexes lower
New York – Shares of department stores sank again Friday, hurt by more evidence that shoppers are turning away from them. A drop in Treasury yields also put pressure on bank stocks, and the weakness helped pull the Standard &…
Yemen minister says 60 percent of population in dire poverty
Riyadh – Yemen’s planning minister says 60 percent of the country’s population is in dire poverty more than two years since the Shiite rebels forced the country’s internationally recognized government and president out of the capital. AP/UNB news agency reported
Change in law lowering VAT rate likely in Bangladesh
In the wake of widespread protests by the business community, Finance Minister AMA Muhith on Wednesday said there will be some changes in the new VAT law. “I’m thinking about giving some relief… some amendments may come (in next budget)…
RAKUB gains success in reaching services to clients’ doorsteps
Rajshahi Krishi Unnayan Bank (RAKUB) has attained success in reaching its banking services to the farmers doorsteps elevating their living and livelihood condition. The specialized bank has been working for bringing all the existing agricultural potential sectors and sub-sectors under…
100,000 tonnes of rice to be imported
Dhaka – Bangladesh will import 100,000 tonnes of rice in an effort to refill reserves and rein in prices of the staple. UNB news agency reported
Seek alternative financing for agri development: Specialists
Dhaka -Specialists urged alternative financing for agriculture development in a workshop organized by Dhaka Chamber of Commerce and Industry (DCCI) and USAID’s Agriculture Value Chains (AVC) Project at the DCCI. UNB news agency reported
4 members of a family could be bank directors; draft law cleared
Dhaka – The cabinet on Monday approved the draft ‘Bank Company (Amendment) Bill, 2017’which will allow four members of a family to be the directors of a bank. The existing law permits only two members of a family to be…
Asia markets rally on US jobs data, euro dips after Macron rally
Asian markets mostly rose Monday following a Wall Street rally as dealers cheered a strong US jobs report but the euro failed to hold on to early gains after Emmanuel Macron beat far-right candidate Marine Le Pen in France’s presidential…
9th Wage Board awaits name of owners’ representative: Inu
Sangsad Bhaban – Information Minister Hasanul Haq Inu on Sunday told Parliament that the 9th Wage Board for journalists will be announced soon after the media outlet owners name their representative for the board. UNB news agency reported
7-day drive to ensure jute packaging from May 15
Dhaka – The government will conduct a weeklong special drive across the country from May 15, aiming to ensure the use of jute bags in packaging of 17 products and stop use of polythene bags. UNB news agency reported
Litchi starts appearing in markets
With seven more days are left of the Bangla month of Joistha, commonly known as ‘Modhumash’, the juicy fruit litchi has started appearing in the local markets of the region. Due to its less quantity, current price of litchi is…
BD to get $8 billion from ADB in 5 yrs, says Muhith
Yokohama – Finance Minister AMA Muhith, now attending the 50th Annual Meeting of the Board of Governors of ADB here,on Fridaysaid the donor agency will provide around$8 billion to Bangladesh over the next five yearsin various sectors as development assistance.…
UN must take parliamentarians on board for Agenda 2030
By Andreas Bummel Berlin (IPS) – In pursuit of the Agenda 2030 the UN is playing an increasingly important role. Its Charter was declared in the name of “We, the Peoples.“ Elected representatives, however, who are interested in the affairs…
Growing inequality under global capitalism
By Anis Chowdhury and Jomo Kwame Sundaram Sydney and Kuala Lumpur, May 4 (IPS) – Income and wealth inequality has increased in recent decades, but recognition of the role of economic liberalization and globalization in exacerbating inequality has never been…
Apple starting US tech manufacturing fund with $1 bn
Apple chief Tim Cook on Wednesday announced Apple is creating a fund to get more people in the US to do “advanced manufacturing,” kicking it off with a billion dollars. Apple investing in high-tech manufacturing in the United States would…
Stocks see upward trend on higher transactions
Stocks saw upward trends on Tuesday as major indices of both Dhaka and Chittagong Stock Exchanges rose with higher transactions of some large-cap securities. Among the rising major sectors were financial institutions and pharmaceuticals and chemicals. Insurance and food and…
Basic income – tonic catalyser
by Ulrich Schachtschneider In her article ‘Unconditional Basic Income is a Dead End’, Anke Hassel rejects basic income as a threat to individual development and social integration, claiming that it would remove people’s motivation to join the labour market. Young…