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Economy

FBCCI to hold nationwide rallies against political violence

FBCCI to hold nationwide rallies against political violence

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Sunday said they would soon hold countrywide rallies with the national flag in hands, seeking an end to destructive political programmes to restore business-friendly environment in the country. Emerging from an emergency board meeting, FBCCI President Kazi Akram Uddin Ahmed said they would...

Political unrest casts shadow on economy

Bangladesh Bank sees the ongoing political turmoil as a major threat to the economy as the country's longest blockade in about two decades is disrupting economic activities and putting investors at bay. "The central bank is concerned as disruptions from political unrest have reemerged, casting [a] shadow on expectations [of achieving the projected GDP growth]," said BB Governor Atiur Rahman. "I earnestly hope that peace and calm will return soon, enabling realisation of the growth prospects projected earlier,” he said while...

New monetary policy for 15.5pc private credit growth

New monetary policy for 15.5pc private credit growth

Bangladesh Bank has announced the monetary policy for the first half of 2015 with the “cautiously restrained” monetary policy stance of the latter half of 2014. Private sector credit will have space for 15.5 percent growth, a substancially higher level than that of the 12.7 percent November 2014 level, BB governor Atiur Rahman said...

Businessmen hand memo to PM, Khaleda seeking respite

Businessmen hand memo to PM, Khaleda seeking respite

Leaders of different trade and labour bodies today submitted a memorandum to Prime Minister Sheikh Hasina seeking her attention to ensure trade-friendly atmosphere in the country. The memorandum sought prime minister’s steps against those carrying out violence destroying the trade-friendly atmosphere of the country and to ensure safety and security of ready-made garment (RMG)...

Whither a 'strong Bangladesh' and the missing middle-class?

In his State of the Union Address 2015, President Barack Obama urged building of a 'Strong America.' He affirmed: “This country does the best when everyone gets their fair share, everyone plays by the same set of rules. Everyone needs to contribute to the country's success.” His 'mantra' of middle class economics seemed to be working as per the statistics presented in the address. It is indeed a contradiction of Kuznets' hypothesis that the income inequality tends to decrease...

Is economics still important?

Is economics still important?

AS an economist, I get a lot of criticism about the profession, the discipline, and its role in modern society. Some of these are pretty well known and I will mention three. One, we are too much into model building and do not provide any guidance to real-life problems. Second, most of our...

Political turmoil eats up Tk 2,277cr daily

Political turmoil eats up Tk 2,277cr daily

Bangladesh is now dealing with a daily loss of Tk 2,277.86 crore in business sectors during the ongoing countrywide political turmoil, a research of Dhaka Chamber of Commerce and Industry (DCCI) says. “We have lost a total of Tk 36,445.76 crore in the last 16 days’ political unrest in 16 different business sectors including...

Global wealth flowing to the richest: Study

Global wealth flowing to the richest: Study

The richest one percent are likely to control more than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening global inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in...

Business & Finance

Europe's lapse of reason

At long last, the United States is showing signs of recovery from the crisis that erupted at the end of President George W. Bush's administration, when the near-implosion of its financial system sent shock waves around the world. But it is not a strong recovery; at best, the gap between where the economy would have been and where it is today is not widening. If it is closing, it is doing so very slowly; the damage wrought by the...

State of governance, economy abnormal: Dr Kamal

State of governance, economy abnormal: Dr Kamal

The situation of governance and economy of the country is now “abnormal”, said Gono Forum President Dr Kamal Hossain, urging for a constructive national dialogue to overcome the condition. “To institutionalise democracy, we need better education and the environment of the educational institutions ….. it is very much absent there,” he said. Dr Kamal, also...

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