Circular economy presents a clear pathway toward achieving greater environmental sustainability while fostering economic growth, said Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). He said, “The readymade garment industry has historically followed a linear business model. However, it is evident that this trajectory needs to change if
Tag: Economic growth
IMF loan can be touchstone of financial sector reforms
The government's successful negotiation of a $4.7 billion, approved at the Executive Council of the International Monetary Fund (IMF), will raise confidence in the macro economy amid a volatile foreign exchange market, analysts said.They said that the IMF loan program can help bring stability to the macroeconomic situation in two
China kicks off Lunar New Year as COVID fears loom
The Lunar New Year holiday kicks off in China this weekend, with hopes running high that it will kick-start economic growth stuck at four-decade lows, but fears of a COVID-19 explosion loom over the festivities. Many people are focused on reuniting with relatives they have not seen in years, rather than
More austerity in 2023 will fuel protests
This week world leaders meet in Davos to discuss cooperation to address multiple crises, from COVID-19 and escalating inflation to slowing economic growth, debt distress and climate shocks. Only three months earlier, finance ministers had gathered in Washington DC for the same reason. The mood was grim. The need for ambitious
WB predicts 5.2pc growth for Bangladesh in FY’23
The World Bank on Wednesday cut Bangladesh's economic growth (gross domestic product -GDP) forecast for the 2022-23 fiscal year further by 0.9 percent to 5.2 percent, due to a combination of factors including elevated inflation, energy shortages and tightening of the monetary policy.The GDP growth has been predicted in the
Women are imperative for growth in Asia
Inclusion-driven policy and corporate culture are key to post-COVID economic recovery. Most people understand why diversity is nice to have. Yet many remain sceptical that diversity is a “must have” or an imperative for growth. This is despite the existence of numerous empirical studies demonstrating the link between greater diversity and
Let’s be thrifty with power use
The availability of electricity is one of the most important factors that drive the economic growth of our country. There is a great deal of dependence on power generation and management for the industrial development of the country. With the current government led by Prime Minister Sheikh Hasina in office,
Asia: The power of connections and their consequences
In our recent book, “The Connections World: The Future of Asia”, published by Cambridge University Press in October 2022, we argue that mutually beneficial links between dynastic business houses and political elites have been important drivers behind Asia’s extraordinary renaissance. Yet, these close ties now threaten future economic growth. That is
EU to enhance quality of relations with Dhaka: Mora
Deputy Secretary General of the European External Action Service Enrique Mora says Bangladesh has grown economically in a "very impressive way" and the European Union (EU) wants to work together with this "important actor" to enhance the level and quality of bilateral relations. "It's (Bangladesh) now an actor that we
South Asia’s growth stunted by a combination of shocks: WB
Beset with Sri Lanka's economic crisis, Pakistan's catastrophic floods, a global slowdown, and the impacts of the war in Ukraine, South Asia faces an unprecedented combination of shocks on top of the lingering scars of the Covid, the World Bank said in its twice-a-year update. Released Thursday, the latest "South Asia