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Tributes, protests mark Martin Luther King Jr. Day  

Tributes to civil rights leader Martin Luther King Jr. were held nationwide on Monday as protests over the treatment of minorities by law enforcement rolled on across the country. Observers of Martin Luther King Jr. Day have this year linked the federal holiday to a rallying cry in recent months during demonstrations over police brutality: ‘Black lives matter.’ Martin LutherKing’s 1960s dream of racial equality was being viewed through a lens focused on the recent deaths of unarmed black men after confrontations with police, including Eric...

IMF downgrades global growth forecast

The International Monetary Fund (IMF) has lowered its forecast for global economic growth for this year and next. The IMF now expects growth of 3.5 percent this year, compared with the previous estimate of 3.8 percent which it made in October. The growth forecast for 2016 has also been cut, to 3.7 percent. The downgrade to the forecasts comes despite one major boost for the global economy - the sharp fall in oil prices, which is positive for most countries. [caption id="attachment_12241" align="alignleft" width="300"]From the Files - ECB Easing Expected...

Govt proposes multiple VAT rates  

A government review panel has suggested the revenue authority impose multiple VAT rates, instead of the universal 15 percent in all areas, to help flourish micro and small businesses and protect consumers. “Multiple rates of VAT are present in many countries, including France, which is the pioneer in introducing value added tax,” said Md Jashim Uddin, co-chairperson of the committee and a businessman, reports the Daily Star. gov-logo-1_4Besides, a 15 percent VAT will lead to spiral in prices of various goods and services and affect...

Rajiv Shah, the next World Bank President ?

Outgoing US Agency for International Development Administrator Rajiv Shah, who is preparing to vacate his position early next month, might have left the agency much sooner, according to one of his former top aides — if only he had gotten the top job at the World Bank. rajib ShahTwo years into his term, Shah was under consideration for the presidency of the World Bank, according to an op-ed written by his former chief of staff. “Astonishingly, at aged 38, Raj was among the candidates being considered for the World Bank presidency,” writ...

UAE invests $ 2.9b in Bangladesh

According to the Bangladesh Business Council (BBC) in Dubai, the UAE has become one of the major foreign investors in Bangladesh with nearly USD2.9 billion investments made in the country, Khaleej Times reported. bd-uae“We expect more investment flow from the UAE to Bangladesh after the successful visit of Bangladeshi Prime Minister during the last week of October 2014,” the Bangladesh Business Council (BBC) President said. The council said that those investments were allocated for a number of projects, including the construction of a third sea...

WB to review govt spending in Feb  

A mission of the World Bank (WB) will arrive in Dhaka early February for a review of recent fiscal and current expenditures of the government, according to WB sources. The public expenditure review (PER) by the WB mission will take place on February 2-6. wbSimon Davies (task team leader) will be joined by Salman Zaidi (lead economist), Zahid Hussain (lead economist), Muhammed Waheed (senior economist) and Nadeem Rizwan during the review mission. The team will meet with the officials of the ministries of finance (MoF) and planning as well as local sta...
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