Jan 16
Daily News Head Line
Inflation eases in Dec PDF Print E-mail

Inflation came down to 5.83 percent in December, from 5.91 percent a month ago, riding on a decline in non-food prices, according to Bangladesh Bureau of Statistics.

Planning Minister AHM Mustafa Kamal yesterday released the data for November and December.

In December food inflation increased slightly but as non-food inflation decreased, the overall inflation fell.

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Bangladesh again denied GSP PDF Print E-mail

Bangladesh's trade privilege in US markets has been again denied as President Donald Trump's administration goes on to enforce the trade preference programme's eligibility this week.

The Generalised System of Preferences (GSP) facility for Bangladesh was suspended in June 2013 after the Rana Plaza building collapse in April, the reasons cited being poor labour rights and unsafe working conditions in factories.

The then Obama administration also gave 16 conditions to be fulfilled for regaining the trade privilege. Bangladesh fulfilled the conditions and twice submitted reports to United States Trade Representative (USTR).

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No cheer for cement industry in 2017 PDF Print E-mail

The price hike of raw materials, the depreciation of local currency and intense competition among too many makers have hit the cement industry hard in the outgoing year, market players said.

Even the ongoing mega infrastructure projects are failing to bring the cement manufacturers much cheer these days.

In 2017, the average price of cement went down by Tk 15 a bag to Tk 385 despite a significant increase in production costs, according to industry insiders.

The industry's sorry state of mind is also reflected in the stock market.

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Bangladesh suffers from ethical void: economist PDF Print E-mail
Written by Administrator   
Saturday, 23 December 2017 13:50

A lack of ethics coupled with political patronage has led to a default loan culture in Bangladesh, said Rehman Sobhan, a noted economist, yesterday.

Sobhan and a couple of young researchers had identified the ethical crisis in the banking system in the 1980s.

“This problem has been perpetuating over successive regimes -- and down to the present day. In fact, you have got into a situation now where perpetuation of debt default is ingrained in the business practices.”

Sobhan's comments came at the opening of 20th biennial conference of the Bangladesh Economic Association held at the Institution of Diploma Engineers Bangladesh in Dhaka.

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RCBC accuses Bangladesh of heist ‘cover-up’ PDF Print E-mail

The Philippines bank through which $81 million stolen from Bangladesh’s central bank was channelled in February 2016 has accused Dhaka’s monetary authority of covering up its negligence and demanded that it stop making the bank a “scapegoat.”

Rizal Commercial Banking Corp (RCBC) was responding to comments on Saturday by Bangladesh Finance Minister Abul Maal Abdul Muhith who said he wanted to “wipe-out” the Manila-based bank.

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