GDP growth may decline to 5.65pc: Unnayan Onneshan
The real rate of growth in GDP in the current fiscal year may decline to 5.65 percent against the government’s target of 7.2 percent, predicts Unnayan Onneshan, an independent multidisciplinary think-tank.
The research organisation’s half-yearly assessment of the economy, coinciding with the end of the calendar year and the completion of the tenure of the present government, also states that the growth in GDP may fall below the decadal average of six percent due to fiscal and monetary management trap, functioned by lack of policy farsightedness and political contestations.
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Rana Plaza in world’s top 10 business stories in 2013
Cheap jeans and T-shirts can impose a human cost. That was driven home in April, when a building namely Rana Plaza in Bangladesh that housed garment factories collapsed and killed more than 1,100 people.
It was an easy year to emulate Warren Buffett even as Congress almost wrecked the economy. U.S. stocks rocketed to new heights, and markets in Japan and Europe jumped, too. The gains enriched investors and defied a still-subpar economic rebound from the Great Recession. Budget fights closed much of the U.S. government for 16 days. Leaked classified documents showed that the National Security Agency collected private onlin...RMG exports jump 20.73pc in July-Nov’13
The exports of Bangladesh ready made garments increased by 20.73 percent in the first five months of the current fiscal year 2013-14 to US$ 9.653 billion, as against exports of US$ 7.995 billion made during the corresponding period of previous fiscal, the data from the Export Promotion Bureau (EPB) showed.
Knitwear exports registered US$ 4.899 billion during July-November 2013 period, showing a year-on-year increase of 20.48 percent over exports worth US$ 4.066 billion made during the same period last year.
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$ 40m fund for Bangladesh building collapse victims
Prominent retailers and labor groups has created a $40 million fund to aid the families of victims of the garment factory building collapse in Bangaldesh that killed 1,100 people, officials said.
The Bangladeshi government, several prominent retailers and labor groups joined together to create the fund to compensate the families of those killed and those injured in the April 24 collapse, the New York Times reported Monday.
The accident was the deadliest disa...
The accident was the deadliest disa...
India to import electricity from Nepal
India has requested Nepal to reduce its trade deficit by exporting electricity to New Delhi. During his meeting with top officials of the Himalayan country in Kathmandu on Sunday, Indian New and Renewable Energy Minister Farooq Abdullah said that it would be the ideal way for the hydropower-rich country to reduce trade deficit. According to Abdullah, it will be a “win-win situation” for the two South Asian neighbours because the proposed deal will not only help Kathmandu utilise its hydropower potential, but also help India meet the growing demand for electricity.
Solar energy innovation lights up Bangladesh slum
For years Anowara Begum fretted about how frequent power outages in her tiny shack in the Baonia-Badh slum in Dhaka’s Mirpur suburb, interrupted her daily embroidery work, depriving her of crucial income that supports her two children and husband.
“It really hampered my work as I could not see properly the needle and thread due to the darkness,” Begum, 41, told Khabar South Asia, adding, “even my children could not do their homework in the evening”.
But things have improved ever since CHANGE, a Dhaka-based non-government organisation (NGO), installed botol bati (liter of light) at her home in April. “Now, we get ample light through the solar-powered bottle of light,” she said.
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