AP, Washington The global economy is slowly picking up steam, led by advanced economies appearing to turn the corner after five years of financial crises and recession and a continued good performance by China, the World Bank said Tuesday.However, it says growth prospects remain vulnerable to rising interest rates and potential volatility in capital flows as the U.S. Federal Reserve eases up on the extraordinary stimulus it has been providing to the U.S. economy, the world’s largest.The bank’s twice-yearly Global...
There is mounting criticism of the New Zealand government for getting a 60-seat boat built cheaply in Bangladesh instead of getting it locally.Radio New Zealand says the Ministry of Foreign Affairs and Trade (MFAT) commissioned the aid-funded ferry for $8 million from Bangladesh to replace a vessel linking the New Zealand territory of Tokelau to Samoa.The vessel sails every fortnight.Kim Campbell, chief executive of the Northern Employers and Manufacturers Association, believes the boat-building industry in New Zealand has not been...
Local Hajj agencies need not to take approval from Bangladesh Bank to send collateral money to Saudi agents for those going to Saudi Arabia to perform Umrah.Bangladesh Bank’s Foreign Exchange Policy Department informed various banks of its new policy on Monday.The Saudi embassy usually gives visa through a Hajj agency, and local agents deal with their associates in Saudi Arabia.The Saudi agents take 100,000 Saudi Riyal from Bangladeshi agents as collateral money to ensure people return home after performing Umrah.Earlier,...
Business Desk :The High Court has ordered chemical testing of all kinds of spices marketed by Pran Agro Ltd to...
The new government’s major challenge is to restore faith in a bid to accelerate economy, former Bangladesh Bank Governor Md...
Xinhua, LondonMore than 500 people from various circles of Britain gathered in London Tuesday exchanging views on China’s transformation and the opportunities for British Companies, as British Prime Minister David Cameron claimed that China is a market that the two countries can cooperate for growth and reform.At the Chinese Business Conference, the third of the annual event organized by the China Britain Business Council in London, participants had in-depth discussions on such subjects as China in transformation, positioning Britain, opportunities...
Xinhua, WashingtonSeveral US economic indicators improved in 2013, but millions of Americans remain jobless after the end of the worst economic downturn in decades.Americans’ confidence in the US economy saw a boost in 2013, with May and June marking the two best months since 2008, according to a Gallup report released Thursday.U.S. consumer spending-the driving force of the world’s largest economy-reached its highest level since 2008, with Americans reporting a jump in their daily spending to 88 U.S. dollars in...
Xinhua, SingaporeSingapore’s central bank has said that the country is not in danger of being caught in a credit bubble that puts it or the banking system at any risk of crisis.Local daily Straits Times Wednesday quoted the bank as saying in a statement that “serious observers and investors” have no doubt over the nation’s financial health.It highlighted three facts, with the first being that the property market is stabilizing. It also said that the household balance sheets are strong...
BSS, Dhaka :Bangladesh Bureau of Statistics (BBS) will conduct a Rural Credit Survey across the country to undertake further development programmes and disburse agricultural credit timely and in an effective way.With this in view, the BBS inaugurated a two-day training programme for the supervising officers at the Parisankhyan Bhaban here today. After the training programme, the countrywide Rural Credit Survey will begin for the second time on January 26 an end on February 9.Under the programme, the BBS with its...
Xinhua, Hanoi :Asian Development Bank (ADB) President Takehiko Nakao urged Vietnam Wednesday to accelerate disbursement of ADB loans.The visiting ADB governor made the appeal at a meeting with Vietnamese Prime Minister Nguyen Tan Dung in Hanoi, according to ADB press release.Nakao said ADB is willing to assist Vietnam in boosting infrastructure development, especially transportation, energy, healthcare as well as carrying out reform in state- owned enterprises (SOEs).Vietnam’s inflation rate has decreased sharply from more than 20 percent in August 2011...
Xinhua, Vienna :The world oil market share of OPEC (Organization of the Petroleum Exporting Countries) declined while non-OPEC oil supply...