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‘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'...

Jamaat-Shibir banned at last

The government has banned Bangladesh Jamaat-e-Islami, its student wing Bangladesh Islami Chhatra Shibir and all its associate bodies as political party and organizations in the country. Home Ministry's Public Security Division issued a gazette notification in this regard today. According to the gazette notification, as the political party Bangladesh Jamaat-e-Islami and its student wing Bangladesh Islami Chhatra Shibir along with its all associate organizations were banned under clause 18(1) of the Anti-...

Social medias now dangerous business: Chief Justice

Expressing concerns about the impact of social media, Chief Justice Obaidul Hassan remarked that it has become a dangerous business. His comments came during the hearing of a contempt of court case involving seven top lawyers of the BNP on Thursday, according to media reports.

"Husband-wife quarrels now also come to Facebook. Saying something again raises the question of rights to freedom," the Chief Justice noted, highlighting the increasingly public nature of personal disputes and the complexities surrounding freedom of expression on social media platforms. The court session saw Advocate Zainul Abedin and Barrister Mahbub Uddin Khokon representing the BNP leaders. When pro-BNP lawyers accused the media of distorting their statements, Chief Justice Hassan defended the medi...

6 quota protest coordinators released from DB custody

The six coordinators of Anti-Discrimination Student Movement who were taken into DB custody have been released. The six coordinators were freed from DB custody around 1:30 pm on Thursday. Rifat Rashid, one of the coordinators, confirmed their release in a Facebook post. Law Minister Anisul Huq told reporters at the secretariat today that the quota protest coordinators left DB office this afternoon. "It is also true that they had sought security from us. A GD was also filed in this regard. Now they say they don't need security anymore, when they expressed their desire to leave, we did not obstruct them. They have gone. “ The DB took six key coordinators-Nahid Islam, Asif Mahmud, Abu Bakar Mojumdar, Sarjess Alam, Hasnat Abdullah, and Nusrat Tabassum- into custody on July 27...

Artists express solidarity with student

Braving heavy rain and police obstruction, artists from various visual media gathered in Farmgate to show their unwavering support for the ongoing student movement in the country. Initially planning to assemble on Manik Mia Avenue in front of the National Parliament at 11 am on Thursday, the artists were redirected to the front of Ananda Cinema Hall in Farmgate after police halted them at the Khamarbari intersection at around 10:45 am. Despite the adverse weather conditions, which saw heavy rain beginning precisely at 11 am, the artists remained resolute. They held banners and posters, chanting slogans that condemned the killings, demanded justice, called for an end to mass arrests, and criticized the government's actions, even singing protest songs to amplify their message.
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