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August 28, 2024

Protest to continue, confirms quota coordinators

Six leaders of the quota reform movement, who were released yesterday from the custody of the Detective Branch (DB) of police, have alleged they were coerced into withdrawing their programmes while in custody. The coordinators in a statement released today (2 August) said, we did not voluntarily give the video statement broadcast from the DB office withdrawing the movement. No decision on the anti-discrimination student movement can come from the DB office. They emphasised, "No decision will be made without consulting all coordinators and the agitating student...

Clothing exports up amid $ 9b data discrepancy

The World Trade Organization (WTO) in its latest data has unveiled that Bangladesh exported $38.4 billion worth of clothing in 2023, making up 7.4% of the global market. However, according to the new data released on Thursday (1 August) through the WTO's interactive tool "World Trade Statistics 2023 – Key Insights and Trends", this figure is nearly $9 billion less than the $47.4 billion reported by the Export Promotion Bureau (EPB). In May, Bangladesh found itself embroiled in a numerical puzzle when the Bangladesh Bank identified discrepancies in the co...

BoE interest rates cut for 1st time since 2020

Interest rates have been cut to 5% today (1 August), in the first downward move from the Bank of England since the frantic days of the coronavirus pandemic. The

‘Middle-Income Trap’ hinders progress in developing countries

More than 100 countries—including China, India, Brazil, and South Africa—face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, according to a new World Bank study that provides the first comprehensive roadmap to enable developing countries to escape the “middle-income trap.” Drawing on lessons of the past 50 years, the World Development Report 2024 : The Middle Income Trap finds that as countries grow wealthier, they usually hit a “trap” at about 10% of annual U.S. GDP per person—the equivalent of $8,000 today. That’s in the middle of the range of what the World Bank classifies as “middle-income” countries. Since 1990, only 34 middle-income economies have ma...

US reporter freed in huge prisoner swap

US journalist Evan Gershkovich and a Russian intelligence colonel jailed for a Berlin murder were among two dozen prisoners freed Thursday in the biggest East-West prisoner swap since the Cold War. The intricate multinational deal that freed the Wall Street Journal reporter and others including former US marine Paul Whelan involved months of secret negotiations, and finally ended with a dramatic exchange on the airport tarmac in Turkey's capital Ankara. Overjoyed family members appeared at the White House alongside US President Joe Biden, who said they'...

BASIC Bank inks APA with FID for FY 24-25

State-owned BASIC Bank Limited signed an Annual Performance Agreement (APA) with the Financial Institutions Division (FID) of the Ministry of Finance for the financial year 2024-2025. Md. Abdur Rahman Khan, FCMA, Secretary of FID, and Md. Anisur Rahman, Managing Director & CEO of BASIC Bank signed the Annual Performance Agreement (APA) for the financial year 2024-2025 on Tuesday, 30 July 2024 at FID’s conference room at the Ministry of Finance. Among Others- Md. Azimuddin Biswas NDC, Additional Secretary and APA Coordinator, and other senior offic...
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