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UN alarmed at ‘deepening’ political violence in BD

The United Nations (UN) human rights office has expressed concern over the rising levels of political violence rippling across Bangladesh amid fears of a return to a state of destructive brinkmanship seen in the run up to the country’s 2014 elections. “The deepening political violence in Bangladesh, resulting from the failure of the two major political parties to resolve their differences peacefully, is very disturbing,” Ravina Shamdasani, spokesperson for the Office of the High UN alarmedCommissioner for Human Rights (OHCHR), said Friday...

6.2pc GDP growth projected in current FY  

The World Bank has projected that Bangladesh will achieve a 6.2 percent GDP growth in the current fiscal year (2014-’15) against the government’s target of 7.3 percent. Besides, the World Bank says, Bangladesh growth is likely to rise to 6.5 percent in 2015-’16 and 7 percent in 2016-’17 fiscal years. The global lender made the projection in the World Bank Group’s Global Economic Prospects (GEP) report released globally on Wednesday. wbThe World Bank report also projects that the economic growth in the South Asia region will hit 6.8 percent by 2017 fr...

No business, but burden of loans exists  

Commodity transportation is facing serious problem due to hartal and blockade. As a result, it is not being possible to transport commodities despite huge demand. The business transaction is also being hampered. Businessmen are now worried over how they will pay the loan installments. Talking to this correspondent on Tuesday evening the proprietor of M/S Sarker Traders of Nilphamari Md Abdul Wahed said the Transport (truck) movement has been stopped for some days as the drivers of those vehicles are not interested to ply vehicles. hartalPolice...

IMF set to stop ECF for Bangladesh  

The IMF is set to quit the ECF programme soon as the government has failed to commit implementation of roadmap for the new value-added tax act, suggesting a bitter relation between the government and the lending agency. The pre-mature ending of the reform programme that was undertaken about three years back to bring about regulatory changes in the broad economic matters would deprive the country of nearly $300 million, a senior finance ministry official said. IMFThe disbursement of the sixth instalment of the $1 billion ECF fund was scheduled in last...

US, EU and UK urge restraint

In the wake of growing violence and loss of lives, the Unites States, European Union and United Kingdom have urged all the sides to show restraint and engage in “genuine dialogue” to solve the crisis. violance BDCondemning violence across the country centring the recent political developments, separate statements from US, EU and UK today urged the government to ensure freedom of assembly, movement and speech. They also demanded that the government probe Tuesday night’s gun attack on former foreign secretary Reaz Rahman and try the att...

WB cuts 2015 forecast for global economy  

The World Bank (WB), citing stagnation in Europe and Japan and a slowdown in China, downgraded its forecast for the global economy this year. It also reported that world economic growth came in below expectations in 2014. The bank predicts the world economy will expand 3 percent this year, up from 2.6 percent in 2014. Last June, World Bank economists had forecast 3.4 percent global economic growth this year and 2.8 percent last year. “The recovery has been sputtering in the Euro Area and Japan as legacies of the financial crisis linger ... China, meanwhile, is undergoing a carefully managed slowdown,” the bank said Tuesday in the first of its twice-yearly Global Economic Prospects reports for 2015.
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