• Wednesday, November 26, 2014

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Economy

KNOT SO TRUE

The economy of a handshake

ONE was walking with his hands extended. The other had hands by his side. One had a slight smile on his face. The other one's expression came close to a grimace. Then they shook hands. And this is how the Chinese president, Xi Jinping, and Japan's prime minister, Shinzo Abe met at the Great Hall of the People, a grand reception hall just by the Tiananmen Square in Beijing at the Asia-Pacific Economic Cooperation (Apec) summit's economic leaders' meeting,...

Japan's economy dips into recession

Japan's economy dips into recession

Japan's economy unexpectedly shrank for the second consecutive quarter, marking a technical recession in the world's third largest economy. Gross domestic product (GDP) fell at annualized 1.6% from July to September, compared to forecasts of a 2.1% rise. That followed a revised 7.3% contraction in the second quarter, which was the biggest fall since the...

21 lakh school kids suffer for hartal

After inflicting mental strain on 21 lakh JSC and JDC candidates, making a dent in the economy, and causing sufferings to millions, the two-day countrywide hartal by Jamaat-e-Islami ends today, at 6:00am. Of the two days, the last 24-hour lap till 6:00am today was enforced protesting an International Crimes Tribunal's verdict on November 2, awarding the capital punishment to Jamaat moneyman Mir Quashem Ali for crimes against humanity in the 1971 Liberation War. The preceding 24 hours till 6:00am Thursday were...

Tax returns deadline extended till Nov 30

Tax returns deadline extended till Nov 30

The National Board of Revenue (NBR) has extended the deadline for submitting income tax returns until November 30 this year. The decision was taken following written requests submitted by several businesses’ and professional bodies, said Syed MA Momen, public relations office of the NBR, today. According to him, many people could not file their tax...

India bans first-class air travel for officials

India bans first-class air travel for officials

India's government has banned first class air travel for bureaucrats, meetings in five-star hotels and purchases of cars in a series of tough austerity measures. The moves are aimed at achieving a fiscal deficit target of 4.1% of the gross domestic product for this year. India's economy has slowed in recent years, growing by 4.7%...

PLEASURE IS ALL MINE

Economy: Not rocket science

LIKE photo-graphy, economy cannot lie. It reads like an open book. We feel it in our daily grind. We suffer in or gain from it. On balance, it adds to or deducts from our future. Such is the power economy holds on our lives. When billions go down the drain through cracks of the state-owned banking sector and a new-genre exploitative financial sub-sector, it is the depositors who are hardest hit. Confidence in the financial system dwindling, an important building...

Bangladesh signs China-led Asian bank MoU

Bangladesh signs China-led Asian bank MoU

Twenty one Asian countries, including Bangladesh, signed a Memorandum of Understanding (MoU) on establishing the China-led Asian Infrastructure Investment Bank (AIIB) today with three major countries skipping the event. Australia, Indonesia and South Korea skipped the launching ceremony as the United States said it had concerns about the new rival to Western-dominated multilateral lenders,...

KNOT SO TRUE

Captains of economy

THREE centuries ago, Adam Smith thought economy was a clock that would continue its motion once set. Almost three hundred years before the birth of Christ, Plato thought quite the opposite. He thought that the ship of the state would have to be captained by philosopher kings. Way back then, Plato didn't quite think that many centuries later, those ruling the public sphere would be the farthest from philosophy and social good would ultimately be non-existent. Instead of planning...

Economic growth to accelerate 6.2pc

Economic growth to accelerate 6.2pc

The economy may grow by 6.2 percent this fiscal year thanks to strong domestic demand and a revival in private investment activities and remittance flow, the World Bank said yesterday. The economy's natural capacity is sufficient to achieve growth of more than 6 percent, Zahid Hussain, a lead economist of the WB's Dhaka office,...

Domestic Eid trade reaches $12bn: WB

Domestic Eid trade reaches $12bn: WB

Retail trade in Bangladesh's domestic market during the last two Eid festivals reached a staggering total of US$12 billion, the World Bank said today, pointing out a rise in internal demand. The global lender disclosed this while releasing a report on Bangladesh development update this morning. "The GDP (gross domestic product) growth in the running...

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