Refayet Ullah Mirdha

Nearly 6.2 crore people in Bangladesh are currently living just one economic shock away from falling below the poverty line, the World Bank has warned, as persistently high inflation and severe energy shortages reverse years of hard-won economic gains.

Bangladesh needs urgent and bold reforms in the financial, energy and revenue sectors to arrest the economic slowdown, restore investor confidence and create jobs, said the World Bank yesterday.

Bangladesh is yet again set to register weak economic growth of 3.4 percent in the current fiscal year, according to the World Bank, marking a fourth straight year of slowing growth amid a deepening energy crisis, financial sector vulnerabilities and global uncertainties.

Beximco Group is seeking government approval for a new leasing model to partially reopen its closed factory operations with investment from British and Chinese firms, according to officials.

Since the war in Ukraine began, sanctions have made it hard for Bangladeshi manufacturers to be paid or to send goods

The country’s merchandise exports rose 8.54 percent year-on-year to $3.93 billion in September, helped by a gradual recovery in garment shipments, according to data from the Export Promotion Bureau (EPB) released yesterday.

The RCEP ministers approved the establishment of an Ad Hoc Accession Working Group to advance the accession process of Bangladesh, alongside Chile, Hong Kong and Sri Lanka

Bangladesh is gaining support from major countries and trade blocs for the country’s proposed LDC graduation deferment at the 81st UN General Assembly (UNGA) session, adviser to the prime minister on the ministries of finance and planning Rashed Al Mahmud Titumir said yesterday.