Category: Archive

The International Monetary Fund (IMF) has further cut its real GDP growth forecast for Bangladesh in fiscal 2023-24 to 5.7 percent from its previous projection of 6 percent, citing high inflation and a persistent dollar crisis. The IMF also projected that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year, up from the 7.2 percent it had predicted earlier. Despite the government’s 7.5 percent growth target, economists doubt its achievability. (photo/bdnews24)

Bank Asia, a private sector bank in Bangladesh, is set to acquire the Bangladesh operations of Pakistan-based Bank Alfalah. This will be the third time Bank Asia has taken over the Bangladesh chapter of a foreign bank, after acquiring Canada-based Nova Scotia and Pakistan’s Muslim Commercial Bank earlier. The boards of both banks have given in-principle approval for the acquisition, which is now subject to regulatory approvals from the central banks of Bangladesh and Pakistan.(photo/banklogos)

In a tragic accident in Jhalakathi, Bangladesh, a cement-laden truck rammed into several vehicles waiting at a toll plaza, killing 14 people on the spot. The truck driver lost control at high speed, causing the vehicle to overturn and crush the cars and a battery-powered three-wheeler. The victims include seven passengers in a private car, four in the three-wheeler, and three women and four children. Over 16 others were injured and are receiving treatment at local hospitals. The authorities have arrested the truck driver and his assistant. (photo/prothomalo)

Bangladesh’s Prime Minister Sheikh Hasina has canceled her scheduled trip to Saudi Arabia and Gambia due to security concerns in the Middle East amid tensions between Iran and Israel. The prime minister will now only visit Thailand to attend the 80th conference of the United Nations Economic and Social Commission for Asia and the Pacific. The decision to cancel the Saudi Arabia and Gambia leg of the trip was made at the last minute, highlighting the fluid security situation in the region. (photo/official)

In Dhaka’s Mohammadpur area, only 8 out of the 17 workers for the mosquito eradication program were present on a recent Tuesday. Several workers were found resting or watching videos instead of carrying out their duties. The program lacks proper supervision, with the assigned supervisor on leave. The workers also lack proper equipment to measure larvicide, relying on makeshift methods. This highlights the inefficiencies and lack of oversight in the city’s efforts to control the mosquito population. (photo/prothomalo)

The Bangladesh government has allowed private traders to import an additional 124,000 tonnes of parboiled and sunned rice, following an earlier approval for 83,000 tonnes last month. The move aims to address rising rice prices, particularly for coarse varieties consumed by low-income groups. The importers have been given a deadline of May 15 to market the entire quantity. The government has also cut customs tariffs to encourage more rice imports and ensure food security amid domestic production growth of 2.49% in the last fiscal year.

Bangladesh is set to introduce drones to detect crop damage caused by extreme weather or diseases, the Asian Development Bank (ADB) announced. Around 20 agricultural officers are receiving training on using the latest geospatial technologies. The training, jointly designed by the Department of Agricultural Extension and ADB, aims to enhance the country’s ability to assess crop damage and implement effective mitigation measures amid the growing threats of climate change. The initiative is part of ADB’s efforts to bring innovative solutions to help Bangladesh tackle climate impacts. (photo/collected)

Bangladeshi Islamist party Jamaat-e-Islami has backtracked from its initial decision to contest the upcoming upazila parishad elections. After signaling its grassroots units to field candidates, Jamaat’s central leadership has now instructed them to withdraw their nominations. The party cites the “controlled” nature of the election, with opposition parties having little chance of success, as the primary reason behind this reversal. Jamaat’s decision comes after other opposition parties, including BNP, also announced a boycott of the upazila polls. The shift in Jamaat’s stance highlights the increasingly challenging political environment for the party. (photo/jamaatlogo)

At least 13 people were killed in a collision between a bus and a pickup van on the Dhaka-Khulna highway in Faridpur’s Sadar upazila. The accident occurred in the Tetultala area, where a Magura-bound bus collided with a pickup van coming from Alphadanga. 11 people died on the spot, while two others succumbed to their injuries at Dhaka Medical College Hospital. Police have recovered the bodies, but details of the deceased have not been immediately disclosed. The tragic incident highlights the need for improved road safety measures in Bangladesh. (photo/alimuzzaman)

The article highlights a major weakness in Bangladeshi journalism – the lack of follow-up reporting on important stories. It cites examples such as the Bailey Road fire, the crackdown on casinos, and the Bangladesh Bank heist, where journalists have failed to provide continuous updates and hold authorities accountable. The piece argues that follow-up reporting is crucial for journalism to remain relevant, as it not only benefits readers but also provides reporters with opportunities for more in-depth coverage. The article emphasizes the need for Bangladeshi media to address this shortcoming and ensure they are keeping their audience informed. (photo/prothomalo)

BNP has decided to boycott the upcoming upazila parishad elections, citing the party’s policy of not participating in polls under the current government. However, the decision comes only after the deadline to submit nomination papers, with around 45 BNP leaders having already filed their candidacies as independents. The party has threatened punitive action against those who defy the boycott decision, though it remains to be seen how strictly they will enforce it. Jamaat-e-Islami has also withdrawn from the upazila polls after initially fielding candidates.

The escalating tensions between Iran and Israel have added new concerns for Bangladesh’s garment exports. Apparel shipments are already facing delays and higher costs due to the ongoing Red Sea crisis and the Gaza war. Buyers are now pressing for faster deliveries, while some are shifting orders to alternative suppliers like Turkey and Vietnam to avoid disruptions. Experts warn that if the Iran-Israel conflict worsens, it could further drive up shipping and production costs, threatening Bangladesh’s garment trade recovery efforts. (photos/dailystar)

Bangladeshi edible oil refiners seek to raise retail prices by Tk 10 per liter, citing the expiration of a temporary value-added tax (VAT) reduction. However, the state minister for commerce has opposed any immediate price hike, stating that the situation will be reviewed. The refiners claim the reduced VAT, introduced in February to ease prices ahead of Ramadan, has now ended. The government’s stance suggests it aims to maintain stable edible oil prices for consumers despite the refiners’ demands. (photo/dailystar)

Dhaka stock market witnessed a decline in the morning trade for the second consecutive session, as selling pressure dominated the bourse. The benchmark DSEX index fell 4.53 points to 5,773.23. Other indices also declined, with more stocks losing value than gaining. The market turnover, a key indicator of liquidity, stood at Tk 170.61 crore, suggesting tepid investor activity. The continued downward trend reflects the prevailing bearish sentiment in the Dhaka stock market.

Bangladesh offers an array of scenic motorcycle routes for adventurous travelers. Experts highlight five exceptional journeys, including the world-record-breaking Cox’s Bazar-Teknaf Marine Drive, the “Ladakh of Bangladesh” Sindukchari-Mohalchari Road, the tranquil Manikchari-Kaptai Road, the mesmerizing Chalan Beel Road, and the epic 500-kilometer Tamabil-Bhomra cross-country trek. These routes showcase Bangladesh’s diverse landscapes, from majestic mountains to serene coastlines, providing motorcyclists with unforgettable experiences. With careful planning and precautions, these roads present opportunities for thrill-seekers to discover the country’s hidden gems and connect with its vibrant culture. (photo/mirza abidurrahman)

In the digital age, universities in Bangladesh are stepping up to address the growing need for cybersecurity education. The Military Institute of Science and Technology (MIST) has established a cutting-edge “Cyber Range” facility, simulating real-world cyber threat scenarios to provide students with hands-on experience. Integrating cybersecurity into the curriculum not only enhances graduates’ employability but also contributes to Bangladesh’s overall digital resilience. Through initiatives like “Capture the Flag” exercises and hosting national and international cybersecurity events, MIST is leading the charge in equipping the next generation with the skills to navigate the complexities of the cyber world. (Photos: Javed/MIST) 

The Islamic calendar is based on the lunar cycle, with each month beginning with the sighting of the new crescent moon. This makes astronomy a crucial element in determining Islamic events and festivals, including Ramadan and Eid. While the lunar cycle spans 29.5 days, the Islamic calendar assigns 29 or 30 days to each month, accounting for the practical constraints of the lunar cycle. This adaptability in the calendar ensures the accurate observation of religious milestones in the Islamic tradition.

Bangladeshi startup EdBridge Scholars has won second place at the BobCat Ventures grant competition in the US, earning $4,000 and professional mentorship. Founded by Bates College student Tanvir Thamid, EdBridge Scholars aims to democratize access to higher education abroad, particularly in North America, for Bangladeshi students. The startup’s strength lies in providing free mentoring to Bangladeshi students, helping them gain admission to top US institutions. The grant will be used to expand the company’s mentoring services and support financially-needy students, furthering their mission of bridging borders through education. (photo/tanvirthamid)

Dhaka’s air quality remains a major concern, with the city ranking fourth globally in terms of the worst air pollution today. The air quality index (AQI) measured 157, indicating ‘unhealthy’ levels, primarily due to high particulate matter concentrations. This persistent air pollution issue poses significant health risks, contributing to increased mortality from various respiratory and cardiovascular diseases. Authorities must take urgent action to address the sources of pollution and implement effective mitigation strategies to safeguard the well-being of Dhaka’s residents. (photo/dailystar)

Bangladesh Bank has decided to focus on five merger proposals it has already received, rejecting any new proposals for now. The proposed mergers include Sonali Bank acquiring Bangladesh Development Bank, Bangladesh Krishi Bank taking over Rajshahi Krishi Unnayan Bank, City Bank acquiring BASIC Bank, United Commercial Bank buying National Bank, and Exim Bank absorbing Padma Bank. Experts suggest these mergers are not entirely voluntary, as weaker banks are being forced to merge with stronger ones as part of the central bank’s reforms under the IMF’s conditions. (photo/dailystar)

Chachkia, a village in Pabna, Bangladesh, is the last bastion of an ancient weaving tradition. Locals here use traditional “Matir Taat” looms, made entirely of bamboo and wood, to weave durable and soft lungis. This unique handloom technology, passed down through generations, produces a distinct fabric that sets Chachkia’s lungis apart from mass-produced alternatives. As traditional crafts face the threat of modernization, Chachkia’s weavers strive to preserve this centuries-old legacy, offering a glimpse into Bangladesh’s rich textile heritage. (photo/dailystar)

Bangladesh’s economy is in a concerning state, with GDP growth slowing to 3.78% in the second quarter of FY2023-24, the slowest pace in three quarters. Inflation has edged close to double digits at 9.81%, eroding consumer buying power and decreasing domestic demand. Factors such as macroeconomic mismanagement, import restrictions, and a distressed financial sector have contributed to the overall decline. Economists emphasize the urgent need for financial sector reforms and addressing endemic corruption, warning that without immediate action, the economy is heading towards darker clouds. (photo/collected)

Bangladesh Bank has decided to merge several weak banks with stronger ones to reform the banking sector. However, experts are skeptical, as the mergers do not address the root causes of the banking crisis – loan defaults, fraud, and lack of accountability. The guidelines also provide leniency to the owners and directors responsible for the banks’ weaknesses, allowing them to return to the boards after mergers. Experts warn that simply merging the banks may worsen the situation without first addressing the systemic issues. (photo/prothomalo)

Expatriates in Dhaka district sent the highest remittance through legal channels between July 2023 and February 2024, followed by Chattogram, Sylhet, and Cumilla. Bangladesh received $15.07 billion in remittances during this period, with Dhaka alone receiving $5.23 billion. Remittance increased by 3% to $29.10 billion in 2023 from 2021, but was lower than expected due to permanent expatriate settlements and money laundering. Banks purchased dollars at higher rates due to a dollar crisis, leading to increased remittance inflow.(photo/prothomalo)