Economic recovery in Bangladesh is gaining momentum, as the third wave of Covid-19 pandemic recedes. However, rising crude oil and...
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People around the world bade farewell to 2020 confining them into indoor celebration on 31st night amid novel coronavirus pandemic. Covid-19 overshadowed most New Year’s Eve celebrations in the cities around the world and Bangladesh capital Dhaka was no exception of this.Dhaka Metropolitan Police (DMP) imposed restrictions on open space programmes, fireworks and entry at specific areas to prohibit mass celebrations on 31st night on the eve of New Year 2021 in an attempt to curb the spread of the...
The outbreak of novel coronavirus has given an unprecedented shock to the Bangladesh economy as did in most of the...
Frequent foreign trips by senior officials of Bangladesh Bank (BB) are not slowing down, rather on the rise. Many wonder what benefits such trips bring to the country at the expenses of national exchequer. Foreign trips remained a talking point for many of the BB officials for last several years as their top bosses were making overseas tours so frequently due to absence of a proper guideline in this regard.Former BB governor Dr Atiur Rahman faced intense criticisms for his...
The financial health of public sector banks is deteriorating fast following recent spate of loan scandals and soaring default loans in their overall credit portfolios, sources said.They said, mired by the poor governance, these state-owned banks-Sonali, Janata, Agrani, Rupali and BASIC-have already plunged into grave crisis and there is apprehension that they might collapse soon unless the government takes a bailout plan for them. “The government has appointed inefficient directors in the banks board under political consideration. This directors sanctioned...
The government is going to offer a ‘special package’ enclosing various incentives and fast tract service delivery to facilitate Japanese investment to Bangladesh, official sources said.A high-level committee comprising senior government officials and representatives from leading trade bodies has already started working to prepare the package following instruction from the Prime Minister’s Office (PMO).“The government has decided to offer a special package for the Japanese investors who are eager to relocate their manufacturing units from China to Bangladesh,” a high...
Public health experts have urged the government to raise allocation for health sector in the next budget for improving the healthcare infrastructure in the country amidst the ongoing coronavirus pandemic.“Covid-19 pandemic has exposed the loopholes in the healthcare system and highlighted the need for a major infrastructure boost. So, a higher budgetary allocation is necessary to strengthen healthcare as well as long-term response to the virus,” Ehteshamul Huq Choudhury, General Secretary of the Bangladesh Medical Association (BMA).He said, “We need...
The coronavirus resurgence in Europe, America and some parts of Asia threatens to dim the outlook of Bangladesh economy that has already suffered severe damage from the first wave of the pandemic.Bangladesh economy staged a faster recovery in third quarter of the year after rapid return to work following the 66-day of countrywide shutdown causing at least 50 per cent loss to the country’s gross domestic product (GDP) growth last fiscal year. However, the economy likely to shrink again owing...
The country’s apex trade body for apparel sector now keeps a close watch on 800 garment factories fearing workers’ unrest ahead of Eid centring non-payment of arrear salaries and festival bonuses. These factories are in financial constraints over the last few years. “The crisis management cell of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is closely monitoring the situation to avert any untoward situation ahead of Eid,” Faruque Hassan, Senior Vice-President of BGMEA, told The New Nation yesterday. These factories...
Business leaders on Monday urged the government to reduce cost of doing business to revive investment that remained sluggish for the last couple of years mainly due to poor infrastructure and political unrest.They said, when businesses face problems with corruption, red tape and poor infrastructure, a move to ease cost of doing business could help stimulate both private and foreign investment.“We are facing problem with high cost of doing business resulted specially from the high bank interest rates and energy...
Wives of three former ministers and two sitting Members of Parliament (MPs) came under the scanner of the Anti Corruption Commission (ACC) following allegations of amassing illegal wealth by them, sources said.The anti-graft body has launched separate probes into the illegal wealth accumulated by Ela Haque, wife of former Health Minister Ruhul Haque, Hasina Sultana, wife of former State Minister for Housing M Mannan Khan, Pretti Haider, wife of former State Minister for Water Resources Mahbubur Rahman and Tahura Haque...
Bangladesh may not achieve as many as 11 indicators out of 45 of the Millennium Development Goals (MDGs) within the target year 2015 mainly due to resource constrain.The indicators which are unlikely to be achieved including ensuring 100 per cent employment, zero dropouts in primary school, 100 per cent adult literacy, 20 per cent of lands covered by forest, 50 per cent share of women in wage employment and improved sanitation facilities for all by 2015, according to a report...
