• Tuesday, October 21, 2014

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Economy

Bangladesh to join China-led Asian bank Oct 24

Bangladesh to join China-led Asian bank Oct 24

Bangladesh will ink an agreement of the proposed China-led Asian Infrastructure Investment Bank on October 24, a finance ministry official told The Daily Star. A delegation of the ministry will leave Dhaka for Beijing on October 22 to join as a member of the bank that will focus on infrastructure development and connectivity within...

Global finance leaders pledge bold efforts

Global finance leaders pledge bold efforts

World financial leaders on Saturday promised "bold and ambitious" action to boost a global recovery that has shown recent disturbing signs of weakness. That pledge from the International Monetary Fund's policy-setting committee comes after a week of stomach-churning swings in the financial markets triggered by growing fears that parts of Europe could be in...

Seminar On Bangladesh, China

Full use of ties can boost development

If Bangladesh and China can fully utilise their friendship, then both the countries will benefit in all sectors, including economy and culture, said speakers at a seminar yesterday. Speakers were addressing the seminar titled “Rise of China and Sino Bangla Relation” at a hotel in the capital. Bangladesh Cultural Academy Foundation organised the programme marking the 65th founding anniversary of the People's Republic of China and the 39th anniversary of Bangladesh China Diplomatic Relation.     Qu Guangzhou, charge d' affairs of the Chinese...

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...

Editorial

Industries running below capacity

A Bangladesh Bureau of Statistics (BBS) study shows that the industry's inability to fully utilise its capacity is preventing it from contributing to the economy at the desired level. In fact, about one-third of the manufacturing units can utilise between 25 to 50 per cent of their total capacities, while 59 per cent can use 75 per cent of their potential.  Given that manufacturing makes the highest contribution to the nation's Gross Domestic Product (GDP) after the service sector,...

7pc growth possible

7pc growth possible

Bangladesh has to address infrastructure deficit, productivity gap and diversification of export base if it wants to move to a higher growth trajectory, Standard Chartered Bank said in its latest report.  The country has the potential to grow at more than 7 percent over the next decade if it can plug the infrastructure deficit...

IMF expects 2015 growth in China to be over 7pc

China's economy will likely grow faster than previously thought in 2015, the International Monetary Fund said on Wednesday, downplaying the risks of the cooling property market in the world's second-largest economy. Economic growth in China will likely be "well above" 7 percent next year, Changyong Rhee, director of the Asia and Pacific department at the IMF, told a briefing in Manila. His remarks suggested the global lender's will upgrade its growth forecast for the country due next month from the current...

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...

New Zealand PM wins 3rd term in office

New Zealand PM wins 3rd term in office

Prime Minister John Key won an emphatic victory Saturday in New Zealand's general election to return for a third term, a result that will be seen as an endorsement of the way his National Party has handled the economy. "This is a great night. This is a victory for those who kept the faith,"...

Majority upbeat about economy

Majority upbeat about economy

The majority of Bangladeshis have expressed optimism about the economy, giving the thumbs-up to the government's economic management, a Washington-based research organisation said in its survey on public sentiment. The Economic Conditions Report of Pew Research Centre, released on Tuesday, found that 71 percent of the Bangladeshis covered in the survey are happy with the economic health of the country compared to 28 percent dissatisfied. The reputed research organisation interviewed 1,000 Bangladeshis face-to-face, all above 18 years of age, from April 14 to May 11 this year. The survey was conducted in Bangla, the organisation said on its website. The annual report examines public opinion about the economy in 44 countries, including...

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