UAE’s AD Ports Group to invest $1 billion to develop Ctg port

AD Ports Group of UAE has signed a non-binding MoU with Chittagong Port Authority for the development of the seaport, including the construction of a multi-purpose terminal under the Bay Terminal project. The proposed $1 billion investment aims to equip the terminal to handle 1 million TEUs of containers and 7 million tonnes of bulk cargo annually. The MoU was signed by AD Ports Group CEO Saif Al Mazurouei and CPA Chairman Rear Admiral Mohammad Sohail, witnessed by the Shipping State Minister and UAE Ambassador.

16 May 2024

Kohli hints at post-retirement plans

Virat Kohli, India’s batting icon, has hinted at his post-retirement plans in an emotional interview, revealing his desire to give his all until he hangs up his boots. The 35-year-old expressed his determination to avoid any regrets, suggesting he may take a break after retirement to cherish his achievements. Kohli, currently in blistering form in the IPL, aims to leave an indelible mark at the upcoming T20 World Cup 2024, where he could further extend his record as the tournament’s highest run-scorer. PHOTO: AFP

16 May 2024

Bangladesh’s outlook remains bright despite global uncertainty

Despite global uncertainty, Bangladesh’s economic outlook remains bright with steady growth expected, said Frederic Neumann, HSBC’s chief Asia economist. He projected Bangladesh’s GDP growth at 5.9% for 2024-25 and 6.3% for 2025-26, supported by household spending, remittances, and investment. Highlighting opportunities, he stressed the need for Bangladesh to capitalize on record FDI flowing into Asia to thrive in the coming years, building on its growing competitiveness.

15 May 2024

City Bank’s profit grows marginally in Q1 

City Bank registered a 2.7% year-on-year growth in profit to Tk 92.44 crore in the first quarter of 2024, driven by higher operating profit and investment income. The bank’s consolidated earnings per share increased to Tk 0.75 from Tk 0.73 in Q1 2023. Its investment income grew by Tk 87.56 crore to Tk 190.07 crore due to higher holdings of government securities. City Bank, one of the leading private banks in Bangladesh, operates through 133 branches.

15 May 2024

Former Nepal captain Lamichhane acquitted of rape on appeal: court

Nepali cricket star Sandeep Lamichhane had his eight-year jail sentence for rape quashed on appeal by Patan High Court on Wednesday. The 23-year-old, once the poster boy for cricket in Nepal, was accused of raping a woman in a Kathmandu hotel in 2022 but consistently denied the charge. His acquittal comes as Nepal’s national team prepares for next month’s T20 World Cup. Photo: AFP

15 May 2024

Young University Rankings 2024: NSU first, BRACU second in Bangladesh

North South University (NSU) has secured the top position among Bangladeshi universities in the Times Higher Education (THE) Young University Rankings 2024, ranking in the 301-350 bracket globally. BRAC University ranked second in Bangladesh in the 351-400 bracket, followed by Khulna University (401-500) and Shahjalal University of Science and Technology (501-600). The rankings feature the world’s best universities aged 50 years or younger.

15 May 2024

Govt aiming for more skilled human resource: PM

The Bangladesh government has decided to update the Population Policy 2012, aiming to transform the public into a skilled human resource through vocational education, emphasizing the demographic dividend from 2041 to 2061. Prime Minister Sheikh Hasina inaugurated a global dialogue on demographic diversity, highlighting initiatives like increasing life expectancy, expanding social safety nets, and introducing a universal pension scheme to build a ‘Smart Bangladesh’ by 2041.

15 May 2024

A kg of beef for a maund of paddy!

Farmers in Sreepur upazila of Gazipur are being deprived of fair prices for their paddy. Despite the government fixing the price at Tk 1,280 per maund, traders are offering as low as Tk 800, leaving farmers disheartened and unable to afford essentials. Farmers accuse a syndicate of controlling the local market prices, while traders claim ignorance about government-fixed rates, highlighting a lack of monitoring. Photo: Star

15 May 2024

US to raise tariffs on $18 billion of China imports including chips

The United States is imposing higher tariffs on $18 billion worth of imports from China, targeting strategic sectors like electric vehicles, batteries, steel, and critical minerals. The move aims to discourage China’s alleged unfair trade practices and protect domestic investments. Tariff rates on EVs will quadruple to 100%, semiconductors to 50%, and levies on products like lithium-ion batteries and solar cells will also increase significantly. China has warned of retaliation, stating it opposes unilateral tariff hikes violating WTO rules.

14 May 2024

Spending cuts in vital sectors will further hurt people

The education and health sectors in Bangladesh are set to receive less allocation than prescribed in the 8th Five-Year Plan for the fiscal year 2024-25, according to the draft Annual Development Plan (ADP). The health sector will get 7.8% against the prescribed 11.1%, while education and technology will receive 13.7% instead of the proposed 16.5%. Experts have raised concerns over this trend, as inadequate investment in these vital sectors for human development will hinder progress and perpetuate high out-of-pocket expenditure for citizens, leading to increased poverty and inequality.

14 May 2024

Illegal sand lifting poses erosion threat

A local influential syndicate has been illegally extracting sand from the New Dhaleswari river in Tangail’s Kaihati upazila, putting riverside villages and the grave of a freedom fighter, Abdul Barek, at risk of erosion during the upcoming monsoon. Despite locals’ requests to save the grave, the syndicate members, Yakub Ali and Gulzar Shamim, have continued their illegal activities. The authorities have taken action by conducting mobile court drives and fining the sand extractors, but the situation remains concerning for the local community and the preservation of the freedom fighter’s grave. Photo: STAR

14 May 2024

2 CUET students assaulted for taking photos of felled trees

Two students of Chittagong University of Engineering and Technology (CUET) were allegedly assaulted by a contractor, Nayeem Khan, and his associates on the campus for taking pictures of felled trees. The students, Shovon Lal Sarkar and Sammaul Islam, filed a complaint against the contractor, accusing him of verbal abuse and physical assault when they tried to photograph the trees cut down for a laboratory building construction. The university authorities have received the complaint and promised to investigate and take action if the allegation is proven true. Photo: Collected

14 May 2024

Only captains will be permitted to speak to referees at Euro 2024

UEFA has announced that only team captains will be allowed to speak to referees and discuss decisions during matches at the upcoming European Championship. This move aims to facilitate clearer communication and prevent situations where multiple players surround and confront the referee. Any player other than the captain who approaches the referee disrespectfully will be shown a yellow card. The initiative, explained by UEFA’s Roberto Rosetti, has been welcomed by coaches and players, aiming to maintain respect and prevent breakdowns in communication during the high-pressure tournament. Photo: Twitter

14 May 2024

Celebrating Mrinal Sen’s 101

Mrinal Sen, the pioneering Indian filmmaker, is celebrated on his 101st birth anniversary for his influential body of work that embodied social consciousness. Through films like “Bhuvan Shome,” “Calcutta 71,” and “Akaler Sandhane,” Sen fearlessly tackled complex societal issues, challenging norms and championing realism. His uncompromising pursuit of truth and authenticity resonated deeply, inspiring generations of filmmakers and audiences alike with his profound cinematic vision and commitment to social commentary. Photos: Collected

14 May 2024

Steel prices set to rise in Bangladesh: analysts

Despite stable global steel raw material prices, Bangladesh will face higher import costs due to the US dollar rate hike since the introduction of the crawling peg system. The country’s steel sector relies heavily on scrap steel imports, meeting 90% of its annual 6 million tonne demand through imports. Industry experts at the Bangladesh International Trade Summit 2024 highlighted the potential impact of supply chain disruptions and growing demand on scrap steel availability and costs for Bangladeshi millers, despite the country’s favorable geographic location.

14 May 2024

BRAC Bank to get $50 million loan from British International Investment

BRAC Bank has signed an agreement with British International Investment (BII) for a $50 million loan. The loan will enable BRAC Bank to support 3,500 micro, small, and medium enterprises (MSMEs) and women-led businesses in Bangladesh through its extensive network. This partnership aims to create economic opportunities, jobs, and support inclusive and sustainable development in Bangladesh, aligning with several UN Sustainable Development Goals.

14 May 2024

Startup Grind Global 2024: embracing the AI revolution

Silicon Valley’s SG Global 2024, the premier tech event, concluded with a strong focus on artificial intelligence’s transformative impact. Industry leaders shared insights on leveraging AI for growth and innovation. Bangladesh was represented by Farihan F. Rahman and Imran Kadir, showcasing the country’s ascending role in the global tech landscape. The event highlighted AI’s potential to revolutionize industries and drive progress.

14 May 2024

Bangladesh’s food inflation rises to 10.22% in April

Despite a slight dip in general inflation to 9.74% in April, food inflation rose to 10.22%, higher than February’s 9.44%. Rural areas faced 9.92% inflation, while urban inflation eased to 9.46%. Addressing persistently high inflation, Bangladesh Bank raised the policy rate to 8.5% to tighten money supply. The IMF projects inflation to remain elevated at around 9.4% in FY24 but decline to 7.2% in FY25, aided by tighter policies and lower global food and commodity prices. However, global financial tightening and domestic vulnerabilities pose risks of prolonged high inflation. source: bdnews24

13 May 2024

BCS has turned into a two-edged sword for jobseekers

The prolonged delays at every stage of the Bangladesh Civil Service (BCS) recruitment process, from publishing circulars to final gazette notifications, have been a longstanding issue. Despite a roadmap to complete the process within a year, it can take over four years, significantly affecting the career prospects of jobseekers. The convoluted processes, limited workforce, reliance on external experts, and lengthy irrelevant verifications contribute to the delays. Authorities must overhaul and streamline the recruitment process to prevent candidates from sacrificing crucial years unnecessarily. source: the daily star

13 May 2024

Price of essentials won’t be controlled by statements

Potato prices have surged to Tk 50-55 per kg, 57% higher than last year, despite the government’s estimate that a fair price should be around Tk 28.55 based on production costs. Prices of other essentials like vegetables, eggs, chicken, beef, edible oil, and spices have also skyrocketed. The new government’s efforts to control inflation through measures like duty exemptions have fallen short. Economists warn the rising dollar rate will further increase costs, exacerbating the crisis for low-income people grappling with diminished purchasing power amid high food inflation. source: prothom alo

13 May 2024

Dengue deaths on the rise

Dengue situation in Bangladesh is getting complex with rising cases and alarmingly high fatality rate, higher than anywhere globally. Experts cite lack of preventive measures, lack of campaigns, and delayed treatment seeking as concerns. Many suffering from repeat dengue infections face severe complications contributing to high mortality. Authorities yet to complete a death review to identify causes behind high fatalities. source: prothom alo

13 May 2024

Road accidents kill 124 students this April

According to Road Safety Foundation, 124 students were killed in road accidents across Bangladesh in April, averaging 4 daily. In the first four months of 2023, 349 students died in road crashes, with reckless motorcycling causing many fatalities among teenagers outside cities with higher vehicle speeds despite a 2018 student movement demanding safer roads. source: prothom alo

13 May 2024

Death toll from rains in Brazil’s south reaches 143, govt announces emergency spending

The death toll from heavy rains in Brazil’s Rio Grande do Sul state has risen to 143, with 125 people still unaccounted for. Over 537,000 people have been displaced in the state. The government has announced $2.34 billion in emergency spending to deal with the crisis. More rain is expected, raising concerns about already overflowing rivers. Scientists believe the intense rainfall pattern is intensifying due to climate change in the region situated between tropical and polar atmospheres. source:bdnews24

12 May 2024

Patient dies after being stuck for ‘45 mins’ in lift at Gazipur hospital

A 53-year-old patient, Mamtaz Begum, died after being trapped for 45 minutes in a lift at Shaheed Tajuddin Ahmad Medical College Hospital in Gazipur on Sunday. Relatives alleged they informed liftmen but faced negligence. After calling emergency services, fire fighters rescued them, but Mamtaz had passed away. Her daughter accused the liftmen’s gross negligence for her mother’s death. Hospital authorities said Mamtaz was ill and a probe would be conducted into any negligence by staff. source:prothomalo

12 May 2024

College student stabbed to death over football match in Jashore

A 17-year-old college student, Noor Hossain, was stabbed to death allegedly over a football match in Jashore town last night. After an altercation between two groups during the match, the accused forcibly took Noor to a house and stabbed him. Locals rushed him to a hospital, but he succumbed to his injuries on the way. A case has been filed against several named and unnamed accused. The body was sent for autopsy as police investigate the murder over the football match dispute. source:thedailystar

12 May 2024

Dhaka’s air is now so bad it is causing cancer

A study found Dhaka’s air has nearly double the WHO-approved limit of carcinogenic elements like arsenic and lead from industries, brick kilns and unfit vehicles. Despite the severe cancer risk, especially to children, the government has done little to enforce environmental laws. Urgent action like closing polluting kilns near homes, proper e-waste management and strict vehicle emission standards is needed. source:thedailystar

12 May 2024

Reserves fall below $19 billion, first time since 2023’s July

Bangladesh’s foreign exchange reserves have dropped below $19 billion for the first time this fiscal year, hitting $18.26 billion after the central bank settled $1.63 billion in import bills through the Asian Clearing Union. The country’s gross forex reserves stood at $19.82 billion on May 8 as per IMF calculation, while Bangladesh Bank’s method puts the current reserves at $23.71 billion, down from $25.27 billion on May 8. source:thedailystar

12 May 2024

Rock n’ Rhythm 4: Mired in chaos, overcome with emotion

The “Rock N’ Rhythm 4.0” concert in Dhaka witnessed the highly anticipated reunion of Black’s original lineup after two decades, amidst logistical issues and crowd mismanagement. Despite barricades being broken and a near-stampede, the legendary band comprising Tahsan, Jon, Meraz, Khademul, and Tony enthralled fans with iconic performances of hits like “Aamra” and “Ekhono.” The emotional reunion overshadowed the organizational glitches, leaving fans ecstatic to witness Bangladeshi rock royalty’s performance of a lifetime. Photo: Apu Nazrul

11 May 2024

UNGA vote: A symbolic win for Palestinians

The UN General Assembly overwhelmingly voted to grant Palestinians additional rights and backed their bid for full UN membership, currently blocked by the US. The resolution allows Palestinians to participate in debates, propose agenda items, and have representatives elected to committees, though not to vote. Israel’s UN ambassador reacted angrily, while the Palestinian ambassador hailed it as historic amid efforts by some European nations to recognize a Palestinian state.

11 May 2024

China consumer prices rise at faster rate in April

China’s inflation rate quickened in April, with the consumer price index rising 0.3% year-on-year, higher than expected and marking the third straight month of positive territory. However, factory gate prices remained in deflationary territory, with the producer price index sinking 2.5% year-on-year. The data reflects the government’s efforts to boost spending and consumption in the world’s second-largest economy, which is grappling with challenges such as a real estate debt crisis and high unemployment weighing on demand.  Photo: Reuters

11 May 2024

First ‘extreme’ solar storm in 20 years brings spectacular auroras

An extreme solar storm, the strongest in over two decades, struck Earth on Friday, triggering spectacular auroras visible from Tasmania to Britain. The coronal mass ejections (CMEs) from the Sun pose potential threats to satellites, power grids, and communication systems. Authorities have alerted relevant agencies to take precautionary measures as more CMEs are expected in the coming days. The event provides a rare opportunity to witness the celestial light shows, prompting experts to advise going outside and capturing the auroras with cameras. Photo: AFP

11 May 2024

Djokovic struck with bottle from stands after winning Rome opener

Novak Djokovic was struck by a plastic water bottle on the back of his head after his third-round win over Corentin Moutet at the Rome Open on Friday. The world number one was left crouched on the ground in pain as he was signing autographs. It’s unclear if the bottle was thrown intentionally or fell accidentally from the stands. Djokovic, who advanced to face Alejandro Tabilo, was then escorted off the court by security. Tournament organizers did not provide an update on his condition. Photo: AFP

11 May 2024

Endrick in Brazil’s Copa America squad but no Neymar

Brazil’s coach Dorival Junior named his squad for the upcoming Copa America, including teen sensation Endrick but excluding Neymar due to injury. Real Madrid’s Vinicius Junior and Rodrygo were included, along with newcomer Evanilson from FC Porto. Notable omissions were Casemiro, Thiago Silva, and Neymar, who is recovering from a knee injury sustained in October. The squad features a mix of experienced and young talents as Brazil aims to reclaim the Copa America title. PHOTO: REUTERS

11 May 2024

Trump’s son Barron, 18, pulls out of political debut

Barron Trump, the 18-year-old youngest son of former President Donald Trump, has withdrawn from being a delegate at the upcoming Republican Party convention in July. Initially, Barron’s planned participation as part of the Florida delegation made global headlines, but a statement from his mother Melania Trump’s office cited “prior commitments” as the reason for his withdrawal. Barron has largely been shielded from the public eye, unlike his siblings who have been actively involved in Trump’s political endeavors. Photo: AFP

11 May 2024

Former Union Parishad chairman shot dead in Narail

A former Union Parishad chairman and Awami League leader, Sikder Mostafa Kamal, was shot dead by miscreants in Narail’s Lohagara upazila last night around 7:30 pm while returning home from the local bazaar. He sustained bullet wounds to the chest and died on the way to Dhaka around 10:30 pm. The incident triggered clashes between rival groups, leaving two injured, one with a bullet wound. Police have taken the two injured into custody as suspected perpetrators of the murder. Photo: Collected from Facebook

11 May 2024

2 killed, 6 injured by lightning in Bagerhat

In a tragic incident, two people lost their lives, and six others were injured due to a lightning strike in the Bandakata canal area of Sarankhola, Bagerhat, this morning around 10:30 am. The deceased were on a trawler in the canal, while the injured were in a nearby shop when the lightning struck. The identities of the victims are yet to be disclosed. The Sarankhola Police Station is investigating the matter.

11 May 2024