• Wednesday, October 01, 2014

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Economy

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...

India's growth hits two year high

India's growth hits two year high

India's economy grew by 5.7 percent in the three months to June, its fastest pace in two-and-a-half years, according to an official estimate. The economy was helped by strong growth in electricity, gas and water supply, and financial services, the Ministry of Statistics said. The growth figure was higher than analysts had been expecting. India's new...

WORLD AFFAIRS ECONOMICS

The Global Security Deficit

SUMMER is normally a time to take a break from the risks and worries of everyday life, and perhaps to take stock of where we are and where we are heading. But this is increasingly difficult, because our everyday lives are becoming so much riskier and more worrying. Much of the discussion in the period following the 2008 financial crisis focused on various economic imbalances that either threatened or impeded growth. These issues have not gone away. The US economy's...

Protecting our twin-engines: A call for diversification

IN 2008, when seemingly “invincible” economies became hostages of the global economic downturn, Bangladesh emerged as a dark-horse and rode the storm admirably. While the superpowers barely managed to bring any economic growth (with some falling into recession), Bangladesh produced its trademark above 6% GDP growth rate. This should not raise any eyebrows. The economy is barely integrated with global trade. The only major trade it relies on is in basic RMG product, which is relatively inelastic to downturns...

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