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Is there a Bangladesh surprise?

BANGLADESH'S economy has recorded remarkable economic performance in the new millennium, though its per capita income has remained low. Even more spectacular has been the steady improvement in its levels of many social development outcomes. Popular commentaries have drawn comparisons with India and Pakistan in highlighting the significance of Bangladesh's development achievements. This phenomenon has been termed as the “Bangladesh conundrum,” and has received extensive coverage in international media outlets, such as the New York Times, the Economist and...

Japan's economy dips into recession

Japan's economy dips into recession

Japan's economy unexpectedly shrank for the second consecutive quarter, marking a technical recession in the world's third largest economy. Gross domestic product (GDP) fell at annualized 1.6% from July to September, compared to forecasts of a 2.1% rise. That followed a revised 7.3% contraction in the second quarter, which was the biggest fall since the...

Is the WTO heading for a failure?

FOR developing countries that have emphasized an export-led growth strategy, the multilateral trade rules, as represented by the WTO, are critical.  It is, therefore, important to look back at the Bali WTO Conference and to assess why the understandings reached there are not taking concrete shape. When the Bali WTO Ministerial Conference concluded with a bang, it was a sound heard around the globe.  The WTO appeared re-energized.  It is almost eleven months since the conclusion of that Conference.  Perhaps,...

Domestic Eid trade reaches $12bn: WB

Domestic Eid trade reaches $12bn: WB

Retail trade in Bangladesh's domestic market during the last two Eid festivals reached a staggering total of US$12 billion, the World Bank said today, pointing out a rise in internal demand. The global lender disclosed this while releasing a report on Bangladesh development update this morning. "The GDP (gross domestic product) growth in the running...

Exclusive to The Daily Star

The age of vulnerability

TWO new studies show, once again, the magnitude of the inequality problem plaguing the United States. The first, the US Census Bureau's annual income and poverty report, shows that, despite the economy's supposed recovery from the Great Recession, ordinary Americans' incomes continue to stagnate. Median household income, adjusted for inflation, remains below its level a quarter-century ago. It used to be thought that America's greatest strength was not its military power, but an economic system that was the envy of...


Toward a new world moral order

THE world has changed before, and it's changing now. If we hated the sins not the sinners in the past, that game is turning on its head. Starting last month, Europe is supposedly including illegal activities in GDP calculation, counting incomes from gambling, smuggling, drugs and prostitution. Next time roads, parks, highways and dams are built and government subsidies go to power, healthcare and education sectors in the European countries, some of that money will not only be soaked...

Business & Finance

Europe's austerity zombies

IF the facts don't fit the theory, change the theory,” goes the old adage. But too often it is easier to keep the theory and change the facts -- or so German Chancellor Angela Merkel and other pro-austerity European leaders appear to believe. Though facts keep staring them in the face, they continue to deny reality. Austerity has failed. But its defenders are willing to claim victory on the basis of the weakest possible evidence: the economy is no longer...

ADB projects 6.4pc GDP growth for Bangladesh

ADB projects 6.4pc GDP growth for Bangladesh

Bangladesh’s economy is expected to improve this fiscal year as all major economic indicators are showing a sign of improvement, the Asian Development Bank (ADB) said today. The ADB in its outlook update report said that Bangladesh’s gross domestic product or GDP will grow by 6.4 percent in the current fiscal year, up from...

Apple earns more than many countries

Apple earns more than many countries

Apple is one of the biggest companies in the world, and with the release of the new iPhone 6 and iPhone 6 plus it is only going to get bigger. With a forecasted 100m iPhones to be sold in the second half of 2014 alone and profits continuing to rise, the technology company’s revenue...


Women's worth grossly undervalued

The socio-cultural curse of widespread discrimination including violence against women is rooted in the fact that their economic worth remains mostly undervalued at best and not valued at all at worst.Even in cases where women are paid for their work, it still is highly inequitable compared to what their male counterparts get. More demeaning to the women's intrinsic worth is the substantial underestimation of the role in GDP  for the failure to reflect the unaccounted for value of women's...

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