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Economical Development
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Last Updated ( Tuesday, 20 May 2008 17:00 )
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Bangladesh economy can grow 7pc or more: ADB |
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Written by Administrator
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Monday, 19 May 2008 08:15 |
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Bangladesh economy can grow 7pc or more: ADB Star Business Report The Asian Development Bank (ADB) country director in Dhaka has said Bangladesh has the potential to achieve 7 percent or more economic growth a year, despite challenges of political uncertainty, weak infrastructure and vulnerability to natural disaster.
"Political stability is fundamental for economic growth and the economy will not be sustained without a stable political base," Hua Du told a press briefing yesterday while releasing the Bangladesh Quarterly Economic Update March 2008.
Hua Du is leaving next month after ending her four-year tenure as the ADB country director in Bangladesh.
The Quarterly report identified weak infrastructure, including serious power shortages, as serious obstacle to the country's economic growth apart from political uncertainty leading up to the December 2008 elections. Oil and food grain prices increase in the international market also posed significant risks, it said.
The report said Bangladesh's GDP is expected to grow by 6 percent in FY2008, down from 6.5 percent in FY2007 because of moderate agriculture growth following the extensive flooding and cyclone.
It said fear and uncertainty among the investor community, apparently created by the government's comprehensive anticorruption drives, have started to ease.
The ADB quarterly said a major global report (by the PricewaterhouseCoopers) identified 13 emerging economies, including Argentina, Bangladesh, Egypt, Iran, Malaysia, Nigeria, Pakistan, the Philippines, Poland, Saudi Arabia, South Africa, Thailand and Vietnam, as having the potential to grow faster.
The report concludes that long-term prospects of these countries are upbeat in addition to major emerging economies including Brazil, India, Indonesia, Mexico, China, Russia and Turkey.
The global centre for economic activity is already shifting to India, China and other large emerging economies, and Bangladesh must make all efforts to capitalise on its comparative advantages to benefit from this global paradigm shift, said the report.
On food price shocks in Bangladesh, the ADB report said market surplus of available food grains is estimated at 3.6 million tonnes in Fy2008.
The ADB observed that although domestic food grain prices are expected to moderate somewhat, high food prices are expected to persist in the foreseeable future. "Despite a bumper boro crop, risks of a supply shortage are possible if the next aman and boro crops are affected by natural disasters or other factors," it said.
"In that case, the shortfall will have to be offset by buffer stocks through higher imports," the report said.
Rapidly growing prices of food, mainly rice, seriously curtailed the purchasing capacity of the people living below the poverty line and the government employees, industrial workers and others with fixed income.
The focus of policy responses should be on targeted interventions to protect the poor and vulnerable in the face of rising food prices, the report remarked.
When asked about her experiences in Bangladesh in the last four years, Hua Du said Bangladesh people's hard work, friendly attitude and hospitability attracted her most.
"I have also noticed people's resilience here, specially the way they recovered from natural disaster is simply remarkable," she said.
She also suggested the government focus on governance issues for country's development. "Governance is also related to the improvement in efficiency," she added. |
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Orascom chief due in Dhaka today |
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Written by Ziaur Rahman
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Tuesday, 13 May 2008 05:23 |
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Orascom chief due in Dhaka today Star Business Report  | Naguib Sawiris |
Naguib Sawiris, chairman of Orascom Telecom Holding (OTH), parent company of Banglalink, the second largest mobile operator of the country, arrives in Dhaka today to announce his company's future investment plan. During his daylong visit, Sawiris will meet with Banglalink's high officials to unveil plans with aim to make the company more competitive. Sawiris, who ranked as the world's 60th richest person by Forbes in 2008, is also scheduled to meet with the chief adviser and chairman of telecom regulatory agency. OTH is a sister concern of the Orascom Group, one of Egypt's largest business groups, maintaining significant holdings in the areas of telecommunications, information technology, tourism and construction in the global market. OTH was established in 1998 and has grown to become a major player in the global telecommunications market. Orascom Telecom has an average penetration of approximately 40 percent in six emerging markets with a population of 430 million, exceeding 74 million subscribers as of May with a market capitalization of $15 billion. The OTH's subsidiary in Bangladesh, Banglalink has secured the second position in terms of subscriber acquisition. The company's total subscriber has reached 8.3million. According to company sources, Sawiris is also the chairman of the Board of Weather Investments and the Egyptian Company for Mobile Services (ECMS), commonly known as MobiNil. In January 2003, in recognition of its regional initiatives in the telecommunication industry, Orascom Telecom, represented by Sawiris, was appointed as board member of the GSM Association. |
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Ushering in new hope for Bangladesh |
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Written by Administrator
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Wednesday, 30 April 2008 11:37 |
Edward Apurba Singha Bangladesh Telecommunications Regulatory Commission (BTRC), the supervisory body of the country's telecoms industry, is going to launch IP telephony service by the middle of the year. The BTRC has decided to award the licence to local internet service providers (ISPs) to kick-start IP telephony service across the country. IP telephony is Internet Protocol (IP)-based phone service that is very cost effective compared to traditional circuit-switched telephony services. In IP telephony voice is transformed into series of packets and then the packets are transmitted over a data communication network. Voice quality in IP phone service is quite impressive and it depends on the traffic condition of the network. IP phone service has two distinct categories such as IP deskphone and softphone. IP deskphone resembles regular phone set but incorporates more interactive features and use session initiation protocol (SIP) to transmit packets. Cisco is one of the market leaders in providing IP deskphone solution. Softphone, on the other hand, is a web-based telephony service that requires multimedia equipment to initiate phone calls. Skype is an ideal example of the softphone that uses point-to-point protocol to transmit data. |
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Last Updated ( Tuesday, 13 May 2008 05:23 )
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Copyright © 2012 Editor : Abuhena Bhuiyan, Resident Editor: Shakhawat Tipu, Webmaster: Ziaur Rahman & Masum Billah .editor@shararhitu.com, webmaster@shararhitu.com
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