• Thursday, November 27, 2014

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Economic Growth

G20 leaders make global growth pledge

G20 leaders make global growth pledge

Australian Prime Minister Tony Abbott has closed the G20 summit by detailing economic pledges agreed by world leaders. The leaders agreed to boost their economies by at least 2.1% by 2018, adding $2 trillion to global economies. Much of the summit focused on Russian President Vladimir Putin's position on the crisis in Ukraine. Putin faced fierce...

Better roads, sufficient energy to propel growth: ICCB

The government must prioritise the development of road networks and other infrastructure for higher economic growth, a leading international chamber said yesterday. “Proper infrastructure is a must to accelerate higher GDP growth. Good roads, power supply and sufficient energy sources generally lure investments,” said Mahbubur Rahman, president of International Chamber of Commerce Bangladesh. The country will have to invest $7-$10 billion by 2020 in infrastructure development, while maintaining political stability, to achieve higher economic growth, Rahman said at a briefing...

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THE NEW GLOBAL ECONOMY

China's vicious growth circle

China's vicious growth circle

MOST economists have a reason to be worried about China's economy -- whether it be low consumption and large external surpluses, industrial overcapacity, environmental degradation, or government interventions like capital controls or financial repression. What many fail to recognise is that these are merely the symptoms of a single underlying problem: China's skewed...

ADB lifts economic growth forecast for Bangladesh

ADB lifts economic growth forecast for Bangladesh

The Asian Development Bank has revised upwards its economic growth forecast for Bangladesh -- to 6.4 percent from 6.2 percent -- for the current fiscal year. The latest projection is still much lower than the government's 7.3 percent target. All major economic indicators of Bangladesh have been showing a sign of improvement for the past...

Next development plan targets growth, empowering citizens

Next development plan targets growth, empowering citizens

The next five-year plan aims to boost economic growth and empower citizens as part of the government's long-term vision of eliminating poverty and making Bangladesh a middle-income country. The theme -- Accelerating Growth: Empowering Every Citizen -- will be the cornerstone of the Seventh Five-Year Plan, said Prof Shamsul Alam, member of general economics division of the planning commission and key planner of the development strategy. "We will pay utmost attention to taking the GDP growth higher than the level achieved in the sixth plan and efforts will be made to improve income distribution." The economist, who prepared the Sixth Five-Year Plan, presented an outline of the upcoming plan for 2016-2020 at...

Remittance rises 16pc in Aug from year ago

Remittance rises 16pc in Aug from year ago

Inward remittances accelerated 16 percent to $1.16 billion in August, compared to the same month a year ago. However, remittances fell 22.14 percent in August from a record $1.49 billion in the previous month, data from Bangladesh Bank shows. The record remittance receipts in July prompted rating agency Moody's to raise its growth forecast for Bangladesh for this fiscal year to 6 percent from 5.8 percent. “The rebound in remittance inflows helps consumption and will enable Bangladesh to maintain its relatively strong economic growth performance this year,” Moody's said in a recent report. “The improvement is credit positive for Bangladesh (Ba3 stable) because it suggests a bolstering of the sovereign's external payments position,...

Dull investment takes toll on GDP growth

Dull investment takes toll on GDP growth

The country may not be able to achieve 7 percent average economic growth in the final two years of the Sixth Five Year Plan due to sluggish investment, a government review report said yesterday. Shamsul Alam, member of general economics division of the planning commission, presented the report on the country's achievements in the...

Joseph E. Stiglitz Series

Democracy in the Twenty-First Century

THE reception in the United States, and in other advanced economies, of Thomas Piketty's recent book Capital in the Twenty-First Century attests to growing concern about rising inequality. His book lends further weight to the already overwhelming body of evidence concerning the soaring share of income and wealth at the very top. Piketty's book, moreover, provides a different perspective on the 30 or so years that followed the Great Depression and World War II, viewing this period as a historical...

Mozena urges American Bangladeshis to invest in their roots

Mozena urges American Bangladeshis to invest in their roots

US Ambassador to Bangladesh Dan Mozena yesterday called upon American Bangladeshis to invest more in the country in a bid to achieve higher economic growth. “Building of Sonar Bangla is just happening. American Bangladeshis can contribute with ideas and investment,” he said. Mozena's comments came at the inauguration of US-Bangla joint venture Solaric's new plant. Solaric...

Political stability key to higher growth: MCCI

Political stability key to higher growth: MCCI

Bangladesh needs to control inflation, keep the macro-economy stable and meet the export and revenue collection targets to achieve the desired economic growth this fiscal year, a leading chamber said yesterday. The overall economic condition was positive as indicated by steady improvements in the major economic indicators in the just concluded fiscal year, said...

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