Asia

The previous government, led by Sheikh Hasina, ignored repeated warnings from experts on various economic issues in Bangladesh, according to Mohammed Farashuddin, a former governor of the country's central bank. "The Hasina administration did not heed warnings from economists on the lack of good governance in the banking sector or rampant money laundering and tax evasion in Bangladesh," he said. "Rather, the people who brought up such issues became victims of rudeness," he said during a public lecture on "World Trade and Bangladesh" organised by East West University (EWU) at its auditorium in Dhaka today. The former central bank governor informed that he was prohibited from entering Hasina's residence at Gono Bhaban for six years while he was also banned from Bangabhaban for four...

Pakistan's central bank on Monday further reduced the key policy rate by 200 basis points (bps) to 13 per cent from 15 per cent amid improvement in inflation. The State Bank of Pakistan (SBP) announced that its Monetary Policy Committee (MPC) decided to cut the policy rate by 200 bps to 13 per cent, effective from December 17, 2024. It said that the decision was helped by the continued decline in food inflation as well as the phasing out of the impact of the hike in gas tariffs in November 2023. However, it added that core inflation, which stood at 9.7 per cent, was proving to be sticky, whereas inflation expectations of consumers and businesses remain volatile. The MPC also noted that the current account had remained in surplus for the third consecutive month in October 2024, wh...

This article examines the China-Pakistan Economic Corridor (CPEC) a decade after its launch, highlighting the disparity between its ambitious promises and its actual outcomes. Through original data analysis and interviews with key stakeholders, the authors identify centralized, top-down planning and limited local engagement as major obstacles to realizing sustained economic benefits. To address the problems, the authors propose a shift toward a more inclusive approach that gives local stakeholders a greater voice, as well as a candid reassessment of development plans, which are necessary to foster trust and achieve long-term success. Introduction The Pakistani government celebrated the tenth anniversary of the establishment of the China-Pakistan Economic Corridor (CPEC) in 2023 with...

After a decade, the country’s fourth Economic Census is set to begin on Tuesday and will continue until December 26. The matter was confirmed in a press briefing on Monday, regarding the Economic Census 2024 project. The event was held at the conference room of the Bangladesh Bureau of Statistics (BBS) in Agargaon, Dhaka. Deputy Project Director of the Economic Census Project, Mizanur Rahman, provided an overview of the census during the briefing. According to the briefing, the census will feature 70 questions, and for the first time, data will be collected using the CAPI method via tablets. So far, 12.2 million units have been identified through listing, with detailed information to be collected from these and other sources. This year’s census will, for the first time, ...

Siliguri, a key gateway to Northeast India, is facing significant economic setbacks due to a drop in Bangladeshi visitors amid the escalating political and social unrest in Bangladesh. The town, known for its tourism, education, medical services, and trade, has seen a sharp decline in tourists, particularly from Bangladesh, as the crisis deepens in the neighbouring country. Siliguri's strategic location near the borders of Nepal, Bangladesh, and Bhutan has made it a popular destination for Bangladeshi nationals, who frequent the area for tourism, education, medical treatment, and visa-related matters. However, recent events in Bangladesh have led to a fall in the number of Bangladeshi visitors, severely affecting local businesses, especially hotels and bus services. Hotel owners ...