• Tuesday, October 21, 2014

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GDP

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INNOVATION & TECHNOLOGY

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...

CROSS TALK

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...

Editorial

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...

Climate change takes toll on GDP

Climate change takes toll on GDP

Bangladesh could lose more than 9 percent of its gross domestic product by the end of this century due to the impact of climate change, says the Asian Development Bank. Global warming might cause the country's annual rice production to fall by 23 percent by 2080, according to an ADB report, titled “Assessing the...

Editorial

Proposal to increase tax revenue

POLICY Research Institute, a private think tank, has proposed that the National Board of Revenue (NBR) bring all forms of personal incomes under the tax regime. Given that every year the government is taking more and more ambitious goals under its belt, experts believe that the only way to generate sufficient revenue is to maximise tax collection from personal incomes. When one takes into account the fact that the top 10 per cent of the population own 35 per...

Growth: Can this budget help it leap?

Growth: Can this budget help it leap?

THE recent announcement of the fiscal budget has triggered a wave of opinions countrywide. Is the curiosity surrounding the budget necessary? Absolutely. We know that for a developing country like Bangladesh, fiscal policies may tend to take precedence over monetary since financial sectors are still developing. Firstly, let us briefly take a look at some of the figures presented this year. The budget targets an acceleration of real GDP growth to 7.3% (from 6.12%) and a fall in inflation to 6% (from 7.5%). Some have critiqued the enormous size of the Tk. 2.5 trillion budget; However, a 15.9% increase in spending may not be considered undue as nominal GDP growth...

Infrastructure Projects

MCCI praises big allocation

A leading chamber yesterday praised the government's big allocation for infrastructure saying the implementation of some mega projects would improve the country's investment climate. The Metropolitan Chamber of Commerce and Industry (MCCI) in its budget reaction lauded the allocation of Tk 8,100 crore made for the Padma Bridge project. It also commended the allocations made for metro rail, transport and human resources development. “The MCCI strongly feels that the increased investment in physical and social infrastructure will help improve the quality...

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