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Economy

Shrimp farmers staring at losses

Shrimp farmers and processors in Bangladesh have sunk into hard times after a slump in demand and depreciation of major exporters’ currencies, reports The Daily Star. Industry operators said many buyers have pushed back the shipment of their orders, while a section of them are even seeking discounts. As a result, the stockpiles are rising at the processors’ end. MDG : Bangladesh Shrimp industryThe ample production of vannamei in India and Vietnam has been blamed, for the most part, for the slump in demand for the locally-grown black tiger...

4 nations agree to create fund for BCIM corridor

A multi-billion dollar fund might be established to pull in resources from various parties to set up a thriving economic belt connecting Bangladesh, China, India and Myanmar. About 55 percent of the fund might come from various multilateral development partners while the rest might be borne by the four governments and the private sector. It will cost about $22 billion to build the proposed Bangladesh, China, India, Myanmar Economic Corridor (BCIM-EC), according to an initial estimate. bcimThe figure is not final and will require more in depth study to reach...

Agriculture and ship salvaging in coastal Bangladesh  

One of the most promising economies in the world today, Bangladesh has a host of positive statistics and numbers including: In 2014, gross income per capita reached $1,190, Bangladesh ranks number 140 out of 177 countries for development and it is moving higher, The rate of population growth is currently at 1.39% a year. Today, approximately 75% of the people in Bangladesh live in rural parts of the country, and most of them depend on agriculture for their livelihood. The agricultural sector is the largest by far, contributing approximately 19.09% of the country’s GDP, and providing jobs to around 48.1% of the labor force.

Capital flight rising  

The amount of money flown out of Bangladesh through illicit means tripled in 2012 to stand at $1.78 billion, riding mainly on trade misinvoicing. The figure was $593 million the year before. On average, $1.31 billion funneled out of the country per year between 2003 and 2012, according to the latest study by the Global Financial Integrity (GFI), a Washington-based research organisation, released on Monday. The study ranked Bangladesh 51st among 145 developing countries that lost most money to siphoning. capital flight

Bangladesh to host Arab-Asia summit

The next edition of Arab-Asia Business Partnership Summit will be hosted by Bangladesh under the patronage of Prime Minister Shaikh Hasina. The summit will be held in association with the Partners in Population and Development (PPD), a UN affiliated intergovernmental agency consisting of health ministers from 26 countries. branding-BangladeshThis was revealed by Bangladesh’s State Minister for Health and Family Welfare Zahid Maleque during a Press conference at the conclusion of the Arab-Asia Business Partnership Summi...

Is China economy really the largest in the world?

For the first time in more than 140 years, the US has lost the title of the world’s largest economy - it has been stolen by China, according to the IMF. But how reliable are the statistics underpinning this claim? The BBC’s economics editor, Robert Peston, explains lower down why China matters to all of us. The Chinese economy is now worth $17.6tn, slightly higher than the $17.4tn the International Monetary Fund (IMF) estimates for the US. So for the first time since 1872, when it overtook the UK, the US has been knocked off the top spot. The IMF calculated these figures by using purchasing power parity (PPP) which enables you to compare how much you can buy for your money in different countries. As money goes further in China than in the US, the figure for China is adjusted up...
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