By Abdur Rahim Harmachi Chief Economics Correspondent, bdnews24.com For the first time, the central bank’s foreign exchange reserve has remained above $15 billion-mark after paying dues of the Asian Clearing Union (ACU). The reserve had come down to $14.78 billion after clearing ACU’s $718 million on Monday. Bangladesh Bank’s Forex […]
By Rahim M. Quazi A complex array of hurdles, compounded by political instability, is posing a formidable hurdle to Bangladesh’s achieving economic prosperity. The post-independence political frontier in the South Asian nation has been extremely turbulent. Two elected heads-of-state were killed by army coups, nearly 25 unsuccessful coups were staged, […]
Source: BD News 24 By Abdur Rahim Harmachi, Bangladesh’s economy has achieved an average growth of over 6 percent over the past five years primarily due to the healthy flow of remittance and rising exports. Both exports and remittance flow from expatriate Bangladeshis have doubled over the last five years despite […]
Source: The Daily Star By SUSHMITA S PREETHA Workers of Outwear Fashions Ltd take to the streets in Sheorapara in the capital demanding better pay and longer maternity leave. They blocked Rokeya Sarani and called on garment workers of other factories to join them. The workers of other factories, however, refused. […]
Source: CNN Money By Emily Jane Fox NEW YORK (CNNMoney) Anu Mandavilli is joining a protest against Gap, at the clothing company’s annual meeting on Tuesday. Her beef: Gap doesn’t do enough to improve worker safety in Bangladesh. “I own Gap clothing and I don’t think it’s acceptable that this […]
Source: CNN Money By Tami Luhby Poverty is growing faster in the suburbs than anywhere else in the United States, soaring 64% over the past decade. That was more than twice the growth rate of the urban poor population, according to the Brookings Institution, which released a book Monday titled […]
Source:The Spiegel. Britain, which has yet to recover from the 2008 financial crash, is peering enviously at Germany’s economic structure with its focus on engineering, its medium-sized firms, apprenticeships, regional banks and long-term business approach. The opposition Labour Party, but also the Conservative-led government, are starting to embrace German ideas. […]
Source: Speaker of the House, US Congress WASHINGTON, DC – House Speaker John Boehner (R-OH), Senate Majority Leader Harry Reid (D-NV), Senate Republican Leader Mitch McConnell (R-KY), and House Democratic Leader Nancy Pelosi (D-CA) announced today that they will hold a U.S. Capitol ceremony next month to present Professor Muhammad […]
Source: Spiegel. Should the Cypriot bailout become a model for the future? The mere suggestion sent markets tumbling last week. But increasing numbers of European politicians would like to see bank shareholders and investors bear a greater share of crisis risk. The EU may be changing its strategy. By SPIEGEL […]
Courtesy: The Atlantic You might consider America’s vast wealth inequality, vividly illustrated in this viral video, to be offensive, infuriating, or irrelevant. But it is not terribly mysterious. Rich people have more money. More money tends to lead to bigger properties, fatter savings, and better access to capital markets. As […]
JEDDAH: Khaled Al-Subiani ARABNEWS Tuesday 5 February 2013 Security patrols in Jeddah yesterday discovered more than SR 21,000 with a 50-year-old woman who was begging at a traffic light. The […]
Source. ET Akhuwat has shifted to the group lending model for the last one year. In this model, borrowers living in the same locality become each other’s guarantors, thus ensuring a high recovery rate. PHOTO: FILE KARACHI: Microfinance, as we know it, can possibly be expensive in Pakistan, as interest rates […]
Source: The Economist: AS THE movers and shakers head to the Swiss mountain resort of Davos this week for the annual World Economic Forum, their credentials as global leaders look anything but resilient. Their official theme will be “resilient dynamism”, whatever that means, but what they ought to be talking […]
RT: “It is time our leaders reformed the system so that it works in the interests of the whole of humanity rather than a global elite,” the report said. The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide […]
Banks Settle Foreclosure Charges for $8.5 Billion Story tools New America Media, News Report, Ngoc Nguyen and SuZanne Manneh, Posted: Jan 10, 2013 SAN FRANCISCO – In light of a recent $8.5 billion settlement between federal bank regulators and 10 big banks, 3.8 million homeowners can expect to get a check in the mail.The agreement, […]
Source: Moneyning.com by VINCENT KING You look out the window of your home each night after dinner, staring across the street at your neighbors. You long for their fancy cars, their manicured lawns, and even the vacations they seem to take several times a year. You’re not alone. I […]
Source: The Local North Korean leader Kim Jong Un is looking to Germany for advice on how to attract international investment to his isolated dictatorship in 2013, a newspaper reported on Saturday. More:
RT: “The fiscal cliff is just more theater from bankers and politicians trying to distract people from the underlying root catastrophe that is a bunch of whackers and bankers who are manipulating the system day in and day out destroying the economy,” Keiser said of the US economy. Live from the […]
Source: The Local. German Finance Minister Wolfgang Schäuble said he believes the embattled eurozone is already past the peak of its three-year-long debt crisis, citing positive developments in Greece and France. More:
Poor Would Be First to Barrel Over Fiscal Cliff Story tools New America Media, Commentary, Earl Ofari Hutchinson, Posted: Dec 27, 2012 LOS ANGELES–President Obama took much heat a year ago when he floated a series of proposed budget cuts that would have slashed programs for the poor. The cuts would have reduced funding […]