When prices of widely consumed staples like potatoes, edible oil, sugar or onions spike and remain inflated for extended periods, it understandably hits the poor and low-income people where it hurts the most: in their wallet.
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
How can Bangladesh avoid the economic crisis to deepen further?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
What can be done with the national debit card? Where can the ‘Taka Pay’ card be found? Will the card end the business of Mastercard and Visa in Bangladesh?
Bangladesh had surpassed India, the subcontinental superpower, in terms of per capita GDP for the first time back in 2020. This year, The International Monetary Fund (IMF) has predicted that Bangladesh will remain ahead of India in terms of GDP per capita for the next 5 years, i.e. till 2026. A report on Bangladesh’s economic progress was published in The Daily Star. Keep an eye on Star News+ for a roundup.
The E-commerce industry has grown exponentially in the last few years. But in the last few months, information of irregularities in the industry has come to light. Allegedly, e-commerce companies have funneled several crores from customers with alluring advertisements and massive discounts.
Bangladeshi entrepreneurs have established a number of businesses overseas. Six more companies will be granted licenses to start new businesses. In 2014, the Bangladesh Bank began enabling local businesses to invest offshore.
Everything from fish, meat, clothing, medicine, car, flat is available on various E-commerce websites, social media groups and pages. The E-commerce business is crossing the Tk 1,000 crore threshold. But many of these businesses are scamming people by offering unrealistic profit margins.
Remittance flow is reducing. It was $ 1.25 billion lower in the first three months of the current fiscal year, compared to the same period of last year. Are the illegal channels of money transfer re-emerging? What are the thoughts of economists on this?
Economic jargon, political consolidations fail to give solace to the struggling masses to hold on to a normal life amid the escalating prices of almost all commodity goods.
On November 4, the price of diesel and kerosene rose by 15 tk per litre. The decision came at a time when the economy of the country is struggling to recover from the severe depression caused by the pandemic.
On Sunday, 12 trucks -- waiting in a parking lot near Petrapole Port -- were burnt to the ground after a fire broke out. These trucks were carrying cotton bound for Bangladesh. According to local sources, no one got injured in the incident.
The government raised the prices of kerosene and diesel by Tk 15 a litre to Tk 80 on November 4. And at the same time it has increased the price of 12-kg cylinder of LP gas by Tk 54 to Tk 1,313. The prices have been hiked at a time when the general mass have been struggling to recover from the pandemic induced economic downfall. In today’s Star Connects, Khondoker Md Shoyeb along with M Tamim, professor of the petroleum engineering department and dean of engineering of Buet, and Dr Khondaker Golam Moazzem, research director of CPD, tries to find out why the government has to increase the prices of kerosene and diesel and what could be done other than rising the prices now.
Decreased interest rates in banks has made saving accounts more attractive to the masses. Many middle class and lower middle class families even rely on saving accounts to sustain their livelihood.