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GDP growth may down by revenue fall, low govt investment

Fall in revenue earnings and low public sector investment may hamper gross domestic product (GDP) growth in the current fiscal year 2013-14, said a local think tank Saturday. The annual GDP growth may fall below the decadal average of six per cent and may reach as low as 5.65 per cent, The Unnayan Onneshan, an independent multidisciplinary think-tank, in its current issue of the Bangladesh Economic Update, said, the Financial Express. The UO cautions that the pressure in revenue collection is likely to add up to budget deficit, which is targeted at 4.6 per cent of GDP in FY 2013-14. Unnayan-Onneshan

US concern over human rights situation in Bangladesh

Extrajudicial killings, arbitrary arrests, regulation of online speech, and poor working conditions and labour rights blemished human rights in Bangladesh last year, a US report says.
Released on Thursday, the US government report also identified weak judicial capacity, and lengthy pre-trial detentions as human rights problems Bangladesh faced in 2013. kerryIt said “the government neither released statistics on total killings by security personnel nor took comprehensive measures to investigate cases”. This, despite, the high-ranking government offic...

India Sahara chief Subrata Roy arrested

One of India's most flamboyant tycoons, Subrata Roy, has been arrested after he surrendered to the police.

_73226490_73226040 The Supreme Court had ordered the arrest of the Sahara group chief on Wednesday after he failed to appear before judges in a case of fraud. Two Sahara firms are accused of raising 240bn rupees ($3.9bn; £2.3bn) through bonds that were found to be illegal. Market regulators say Mr Roy failed to refund the money to millions of investors despite a court order. He is expected t...

WB to support Bangladesh secondary education

The government signed a $265 million additional financing agreement with the International Development Association (IDA), the World Bank’s concessional arm, for the ongoing Secondary Education Quality and Access Enhancement Project. The financing will help annually 4.5 million poor rural children in 215 upazilas across the country to continue secondary level education. wbWith this additional financing, the project will continue to provide po...

Buyers fleeing China for Bangladesh

Foreign buyers are fleeing China for Bangladesh, Cambodia and Indonesia not just for cheaper labour but also because of rising tensions between the workers and their employers, in some cases because of poor corporate social responsibility on the part of the companies. Swedish firm H&M, the world’s second-biggest clothing retailer, now sourced about 45 per cent of its needs from Bangladesh, and Cambodia’s share was growing, said Goran Larsen, a former chairman of the Swedish Textile Importers Association. [caption id="attachment_4450" align="alignleft" width="300"]china RMG

RMG workers see safety weighing on targets

The RMG workers in Bangladesh not only lack basic knowledge on fire and building safety but also feel fire drills and safety training take too much time and increase pressure on them to reach production targets, a survey has found. The feedback was uncovered during a Baseline Worker Survey by the Alliance for Bangladesh Worker Safety as part of ongoing efforts to measure workers’ knowledge and awareness of health and safety issues, and subsequently develop training to meet their needs. RMG Rana PlazaA combination of questions an...
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