Tag Archives: Economy

BD economy 41st largest in 2019


MNA Business Desk: Bangladesh is the 41st largest economy in the world in 2019, according to a UK-based think tank. It is up by twp steps from last year, when the country was ranked 43rd largest economy, the Centre for Economics and Business Research (CEBR) said in a report. The report forecast that Bangladesh would emerge as 36th largest economy in 2023, 27th in 2028 and 24th in 2033. “We expect annual rates of GDP growth (in Bangladesh) to average 7.0% between 2018 and 2033. This will see the country climb 19 places in the World Economic League Table to ...

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US again most competitive economy: WEF


MNA Business Desk: The US economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis, benefiting from a new ranking methodology this year, reported news agency. In its closely-watched annual Global Competitiveness Report, the WEF said the US is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zero to 100. The US beat off Singapore, Germany, Switzerland and Japan, the other top four markets, with a score of 85.6 out of 100, the report said, due to its “vibrant” ...

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BIMSTEC: Hopes & apprehensions for regional cooperation

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MNA Editorial Desk: Around the world, all the countries today are now bound by the concept of globalization. Trade, politics, economy and every other aspect is now being chased by this phenomenon. It is not possible to grow without the influence of external stakeholders. Hence, regional cooperation has become very vital and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a forum like such for seven South Asian and Southeast Asian countries. This regional forum in recent times received a lot of attention after cancellation of SAARC summit in 2016 due to conflicts between India ...

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BD economy may grow 6.4%: WB


MNA Business Desk: The World Bank has revised upwards its growth forecast for Bangladesh and said the economy is expected to attain a 6.4 percent growth in current fiscal. In last June, the bank predicted a 6 percent growth for the financial year. The revised growth forecast came at the global lender’s half-yearly report ‘Global Economic Prospect’ released on Wednesday. However, the government eyes an economic growth of 7.8 percent in the 2017-18 fiscal year. Earlier, the bank predicted a 6 percent GDP growth in the 2016-17 fiscal which has now been revised at 7.2 percent. According to the Bangladesh ...

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Country’s economy to grow 6.9pc this FY: ADB


MNA Business Desk: Bangladesh’s economy is expected to grow at 6.9 in the current FY (fiscal year) while the inflation will remain within 6 percent, according to latest report of the Asian Development Bank (ADB). Bangladesh attained 7.2 percent GDP growth in the last fiscal year despite ADB’s forecast of 6.9 percent growth while the country was able to contain inflation at 5.4 percent in the last financial year although the Manila-based lending agency earlier had forecast it at 6.1 percent. Asian Development Outlook (ADO) 2017 Update released by ADB also said the economies of Bhutan and Myanmar are poised ...

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9/11 Today: Its Impact and Aftermath


Kaushik Ahmed Sixteen years have passed but it is still fresh in our memory today – the attacks of 9/11. There was multiple airplane attacks on World Trade Center, the Pentagon and Pennsylvania. These attaacks led to the famous ‘War on Terror’ by the US government which changed the scenario of the world, specially the Muslim world. No single figure since the Second World War has made so weighty an impact on world events as Osama bin Laden. Had the world responded to his 9/11 attack on America with control he would probably have disappeared, expelled from Afghanistan or killed ...

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GSMA Reveals Economic Impact of Mobile in Bangladesh


MNA Feature Desk: The GSMA today revealed the positive impact of mobile on the Bangladeshi economy and the potential for even further growth and innovation. According to GSMA Intelligence, mobile technologies and services generated 6.2 per cent of the country’s GDP in 2015, a contribution that amounted to around US$13 billion of economic value1. In the same year, mobile operators and the ecosystem provided employment to more than 760,000 people across Bangladesh2. Bangladesh performs close to the regional averages across metrics of mobile market development, despite a lower income than neighbouring countries. Bangladesh is above the Asian average in terms ...

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Algorithms could wipe out the global economy


MNA Science & Tech: Used in almost every industry, algorithms have transformed the way we work – but they have the capacity to do immense damage. Experts have called on the Government to audit the algorithms used by technology and financial companies to avoid chaos, reported news agency. Professor Edward Tsang, director of the Centre for Computational Finance and Economic Agents at the University of Essex, said that algorithms should at least be “test-driven” by regulators to prevent “trillions” of pounds being lost and the global economy being wiped out. At their most basic, algorithm is a set of rules ...

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David Cameron resigns as prime minister after Brexit


MNA International Desk: David Cameron resigns as prime minister after Britain votes Brexit as it was inevitable. David Cameron paid the price for his failure to secure Britain’s future in the European Union announcing his resignation and admitting the country now needed “fresh leadership”. Flanked by his wife and at one stage close to tears Mr. Cameron said it would be wrong for him “to be the captain that steers our country to its next destination.” He declared that he would stay on in a caretaker capacity but expected a new leader to be in place by the time of ...

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Brexit pitches world into uncharted terrain


MNA Editorial Desk: UK leaving the EU as the decision became obvious, Brexit pitches the world as we know it into uncharted terrain. Decelerating growth, a return to protectionism, inquiring for free trade agreements and worries over the solidity of the EU – the global economy is ingoing an era of bottomless uncertainty following Brexit. “We are moving into completely uncharted territory where the only certainty will be uncertainty,” said Jean-Michel Six, chief economist for Europe at SP Global Ratings. Britain voted by 52% to 48% for their country to leave the EU in spite of dire warnings from world ...

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Bangladesh acquired the highest amount FDI


MNA Business Desk: Bangladesh has acquired the highest amount of Foreign Direct Investment (FDI) in a year in 2015, according to an UNCTAD report. The report showed that the country engrossed $2.235 billion, registering a 44% growth, $684 million in value in FDI influx over the preceding year’s FDI. This was revealed in the World Investment Report 2016, released on Wednesday by the United Nations Conference on Trade and Development (UNCTAD). “Bangladesh has witnessed the highest growth among the South Asian countries due to stable and favorable investment atmosphere prevailed in the country last year,” executive chairman of Board of ...

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G20 advise growth opportunities beyond ultra-easy policy to spark global economy

On Saturday, the top economies of the world anticipated on a declaration to recommend the world to look for options for growth opportunities other than ultra-low interest rates as well as printing money to get over from the vulnerability of global economy. Alongside, they promised future structural reforms as they believe that would intrigue activity. The G20 (Group of 20) finance ministers and central bankers have gathered in Shanghai for a two-day meeting. A draft of the statement, which is to be issued at the end of the meeting, projected huge concerns and policy frictions that was driven due to ...

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