• Saturday, July 26, 2014

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Political Crisis

Thai army chief to meet key players

Thai army chief to meet key players

Thailand's army chief is to hold talks with key players in the political crisis, a day after declaring martial law in the protest-hit nation. General Prayuth Chan-Ocha has asked to meet the government, the Senate speaker and the two main protest factions. After the talks it could become clearer whether the military will restrict itself...

Thai PM rules out resignation

Thailand's acting prime minister today ruled out resigning as a way out of a protracted political crisis that is stunting economic growth, as anti-government protesters stepped up pressure to remove him and install a new administration. Thailand is stuck in political limbo following the dismissal of Prime Minister Yingluck Shinawatra and nine of her ministers on May 7 after a court found them guilty of abuse of power. Six months of turmoil that has included violent protests and a disrupted general...

Thai government warns protesters as power struggle deepens

Thai government warns protesters as power struggle deepens

Thailand's beleaguered government on Sunday warned people to stay away from anti-government protests, saying it had to step up security as the two sides in a lengthy political crisis squared off over who is running the country. The caretaker government loyal to ousted prime minister Yingluck Shinawatra is clinging to power and to the...

Putin moves to send troops to Ukraine

Russia's parliament yesterday gave President Vladimir Putin the go-ahead to send troops into Ukraine, despite a warning from Washington that such a deployment would results in "costs" for Moscow. The stark escalation of the ex-Soviet country's three-month political crisis came amid growing instability in Ukraine's predominantly Russian peninsula of Crimea that has housed Kremlin navies for nearly 250 years. Large swathes of the rugged Black Sea peninsula of nearly two million people are now under the control of pro-Kremlin militia who...

Restive Thailand 'faces civil war'

Thailand risks sliding into civil war after a wave of political violence in which 22 people have been killed, officials warned yesterday as the unrest claimed the life of a fourth child. Near-daily gun and grenade attacks in protest-hit Bangkok have raised concerns that a nearly four-month-old political crisis is entering a dangerous new phase with both sides refusing to back down. More than 700 people have been wounded since demonstrators took to the streets for rolling rallies aimed at ousting...

GROUND REALITIES

For a fresh new beginning . . .

NOW that the Awami League is off to a new term in office, there are the priorities it needs to set as the party of government once more. The priorities relate, of course, to the necessity of sketching new plans for the future. But let this discourse on what the government must do begin through taking note of the courageous manner in which the prime minister and her colleagues set aside all sorts of pressure, especially from western diplomats,...

Bank reform for competition and economic growth

Bank reform for competition and economic growth

BANGLADESH has seen unprecedented growth of banks in private and public sectors to serve certain interested and purposeful politicians and bureaucratic persons. Based on capital surplus of 38 private banks reported in The Daily Star on November 24, 2013, these Banks can be categorized into following categories: Bangladesh Bank may conduct a proper investigation into the profitability, liquidity, capital surplus and other tests about the survival of the above banks in the competitive world of free market economy. The same test may be applied to all government banks. According to our above categorization eight banks in the First Category are commercially fit to run and operate banking business. Bangladesh bank may ask...

STRANGER THAN FICTION

Overpowering “Ershad Syndrome”

BANGLADESH is at war with itself. Interestingly, the political crisis, social disorder and economic uncertainties the country has been experiencing since long are not ideological or political by nature. The adoption of “secularism” and “socialism;” one-party rule; successive military takeovers; or even the adoption of Islam as the “state religion” were anything but ideology-driven. They simply reflected the ruling elites' political expediency, and their desperate quest for legitimacy. This article is a sequel to two of my earlier op-eds, one...

Monetary policy for 'animal spirits'

BANGLADESH Bank (BB) Governor, Dr. Atiur Rahman, recently announced monetary policy effective for the second half of the fiscal year 2013-2014 (FY14). Bankers and investors are particularly eager to see how the central bank outlines its monetary and financial stance and whether it would be beneficial or detrimental to them. The eagerness has been high this time, due to the apparent end of widespread violence in the name of political rights, and the beginning of a new regime. BB...

Editorial

Half-yearly monetary policy unveiled

THE half-yearly monetary policy statement (MPS) has been unveiled by the central bank. The governor hopes the framework will seek to reduce inflation and provide sufficient space in lending to achieve broad-based investment. Keeping inflation within the 7 per cent mark however will be challenging as banks cut interest rates to make available more funds. The danger of cheaper funds made available to clients by banks could trigger greater borrowing and utilisation in unproductive sectors like the stock market...

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