• Monday, March 02, 2015

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Economy

Japan comes out of recession but growth still disappoints

Japan comes out of recession but growth still disappoints

Japan came out of recession in the fourth quarter of last year, but the world's third largest economy grew at a slower than expected pace. The economy expanded by an annualised 2.2 percent in the three months to December in a preliminary reading, compared to forecasts for a 3.7 percent increase. Japan's growth in the...

THE ASIAN CENTURY SERIES

Maintaining growth in India

THE global economy's slowdown has not spared India. Sustaining the growth that it needs to continue to lift millions of people out of poverty will require rethinking its economic-policy approach. If India is to succeed, it will have to deepen regional and domestic demand, strengthen its macroeconomic institutions, and join in the fight for an open global system. Diminished expectations abroad should not lead India to lower its ambitions. Fulfilling these ambitions will require efficiency-boosting investments, particularly in infrastructure. Every...

Canadian envoy urges end of violence

Canadian envoy urges end of violence

Canada today said the ongoing political violence in Bangladesh is inflicting a terrible cost on the people and country and called for an end to violence. “There must be an end to violence, and there must be space for peaceful political activity,” said the newly appointed Canadian high commissioner in Dhaka Benoît-Pierre Laramée. During call on with the State Minister for Foreign Affairs, the High Commissioner also remarked that economic and social development are built on the foundations of good governance, peace, and democracy. According to a press release of the Canadian high commissioner, the envoy spoke about the Canada-Bangladesh relationship, established over 40 years ago. He remarked that there are many opportunities...

Editorial

Economy needs breather urgently

BANGLADESH Shop Owners' Association representing 25 lakh retailers has put across an SOS to political leaders to rescue them from impending ruination. After the big business' desperate call to end indefinite blockade and hartal, it is the turn for medium and small retail businesses to add their voice to the mounting anxiety over economic slump. The daily average retail sales have dropped by 70 percent dipping from Tk. 3,000 crore to Tk. 900 only. At this rate, the cumulative loss...

Fix politics to save economy

Fix politics to save economy

Businesspeople took to the streets all over the country yesterday, denouncing the ongoing violence that claimed at least 68 lives and inflicted serious damage on the economy in the last one month. They formed human chains and staged sit-ins in the capital and elsewhere simultaneously for 15 minutes from 12:00noon, seeking an immediate end...

Businessmen for anti-hartal law

Businessmen for anti-hartal law

Struck hard by the ongoing political stalemate, business leaders today called upon the government to enact a law against hartals and blockades that “cripple the country’s economy”. “We want anti-hartal and anti-blockade law. The government should formulate a law for the sake of the economy,” Kazi Akram Uddin, president of Federation of Bangladesh Chambers...

Editorial

Economy bleeds away

The Dhaka Chamber of Commerce & Industry (DCCI) has unveiled a report detailing losses sustained by the various sectors of the economy over the past 30 days of political violence. According to it, the business sector as a whole has been suffering losses to the tune of Tk.2,277 crore per day and the total loss stands at Tk.68,310 crore over the entire period, which is approximately 5 per cent of the GDP. Not a single sector has been spared...

Khaleda is a stupid leader: Muhith

Khaleda is a stupid leader: Muhith

Finance Minister AMA Muhith today called BNP Chairperson Khaleda Zia “a stupid leader”. Muhith said this at the inaugural ceremony of an international exhibition on textile and garments machineries at the Bangabandhu International Conference Centre in Dhaka this afternoon. “The economy of the country has progressed a lot in 2014, but Khaleda Zia does not...

6.3pc GDP growth this fiscal year: Bloomberg

Bangladesh's economy may grow by 6.3 percent in the current fiscal year, a Bloomberg survey said yesterday. The result for Bangladesh's economy is the median of four economists' forecasts surveyed by the US media organisation. In a previous survey, the economists also predicted the same level of economic growth for fiscal 2014-15. They however cut down their growth forecast for the next fiscal year to 6.45 percent in the new survey from 6.6 percent earlier. The survey was conducted between January 23 and...

Inflation dipped in January despite violence

Inflation dipped in January despite violence

Inflation said to have dipped lower last month despite political unrest because of a lower inflation rate of the nonfood items and falling prices of oil in global market. For January the inflation was 6.04 percent, what was 6.11 percent in December last year, Planning Minister AHM Mustafa Kamal said while disclosing inflation data...

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