Monday , December 9 2019
Home / Economy / Finance

Finance

Financing the green transition

By Bertrand Badré and Antoine Sire Paris – Four years after world leaders signed the Paris climate agreement and adopted the United Nations’ 2030 Agenda with its 17 Sustainable Development Goals (SDGs), the global environmental crisis shows every sign of worsening. Polar ice and glaciers are melting at an accelerating rate. Read More »

High-level meet on finance for dev – result business-as-usual

By: Jennifer del Rosario-Malonzo 28 September 2019, New York City — Following a disappointing Climate Action Summit that yielded few commitments, despite science showing the need for urgent system change, and a Sustainable Development Goals (SDGs) Summit acknowledging that the international community is off-track to achieve the SDGs in 10 years, the High-level Dialogue (HLD) on Financing for Development convened ... Read More »

SMEs to get access to finance, market; policy okayed

Dhaka, Sept 9 (UNB) – The Cabinet on Monday approved the draft of SME Policy 2019, aiming to ensure access to finance, technology and market for some 78 lakh SMEs in the country. The approval came at the Cabinet meeting held with Prime Minister Sheikh Hasina in the chair at her office. “The SME Policy will be implemented from 2019 ... Read More »

US defunds UNFPA for the third year– on wrong assumptions

By Thalif Deen UN, Jul 17 2019 (IPS) – The Trump administration, in its continued hostility towards the United Nations– and as part of its policy aimed at undermining multilateral institutions and international commitments– has withheld its annual contributions to the UN Population Fund (UNFPA) – for the third consecutive year. The three- year annual cuts, which began in 2017, ... Read More »

Facebook and friends threaten to libralise the world

By Anis Chowdhury and Jomo Kwame Sundaram Sydney and Kuala Lumpur, Jul 16 2019 (IPS) – On 17 June, a Facebook white paper proposed a new global digital currency it plans to launch in the first half of 2020. The Libra will be managed by a ‘not for profit’ Swiss-based Facebook-led consortium of ‘for-profit corporations’, with Uber, eBay, Lyft, Mastercard ... Read More »

Green Climate Fund agrees on ways to decide sans consensus

Songdo, 11 July (Indrajit Bose) — The Board of the UNFCCC’s Green Climate Fund (GCF) adopted a key decision on how the Board will make decisions in the event consensus could not be reached at its 23rd meeting in Songdo, South Korea from 6-8 July. In what several Board members termed as a “historic” decision, the Board adopted the decision ... Read More »

Progress of financial inclusion in BD exciting: Queen Maxima

It can accelerate progress, empower women, she says Dhaka, July 10 – UN Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) Queen Maxima on Wednesday said financial inclusion can empower women and accelerate Bangladesh’s progress and noted significant progress made so far in the country. “Financial inclusion has increased from 31 percent in 2014 to 50 percent in 2017 ... Read More »

Queen Maxima in Dhaka to promote financial services access

Dhaka, July 9 (UNB) – UN Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) Queen Maxima arrived here on Tuesday evening to promote people’s access to financial services in Bangladesh. Bangladesh is currently developing a national strategy to improve people’s access to financial services. In Bangladesh, only 36 percent of women have bank accounts, compared to 65 percent of ... Read More »

Liberalism and developing countries

By Leila Yasmine Khan and Daud Khan AMSTERDAM/ROME, Jun 24, 2019 (IPS) – As China rapidly replaces Europe and the USA as the key player in developing countries, the Western press is full of articles about the dangers of dealing with the Chinese. China, it is said, is not liberal and not democratic and hence is not a trustworthy partner ... Read More »

Trump administration’s 50bn ‘economic peace plan’ for ME

The US is busy pushing a $50 billion economic peace plan for the Middle East which aims to “empower” and “unlock the vast potential of the Palestinian people”. Yet the 40-page document says nothing about why Palestinians are disempowered today. – HRW Opening the West Bank and Gaza The plan will reduce constraints on Palestinian economic growth by Opening the ... Read More »

White House unveils $50 billion Palestinian economic plan

Washington, Jun 23 (AP/UNB)  — The Trump administration on Saturday unveiled a $50 billion Palestinian investment and infrastructure proposal intended to be the economic engine to power its much-anticipated but still unreleased “deal of the century” Middle East peace plan. The scheme, which calls for a mix of public and private financing and intends to create at least a million ... Read More »

300 top loan defaulters fail to repay Tk 509bn: Minister

Dhaka, Jun 22 – Finance Minister AHM Mustafa Kamal on Saturday placed in Parliament the list of 300 top loan defaulters of the country involving Tk 50,942 crore (Tk 509bn). The Finance Minister made the disclosure while responding to a tabled written question from ruling party MP Israfil Alam. He said these loan defaulters took loans from all banks and ... Read More »

11 infrastructure projects involving Tk 80bn okayed at Ecnec

Dhaka, Jun 18 (UNB) – The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved 11 projects involving an overall outlay of Tk 8,053 crore. The approval came from the Ecnec meeting held at NEC conference room here with Ecnec Chairperson and Prime Minister Sheikh Hasina in the chair. Briefing reporters after the meeting, Planning Minister MA Mannan ... Read More »

Global FDI flows fall for third consecutive year

Geneva, 13 Jun (Kanaga Raja) – Global foreign direct investment (FDI) flows fell by 13 percent in 2018 to $1.3 trillion, the third consecutive year of a decline in FDI, the United Nations Conference on Trade and Development (UNCTAD) has said. In its World Investment Report 2019, UNCTAD said that the decline was mainly due to large-scale repatriations of accumulated ... Read More »

BD allocates Taka 1bn to settle riverbank erosion victims

Dhaka, June 13 – A total of Tk 100 crore has been allocated in the proposed budget for 2019-20 fiscal years to facilitate rehabilitation of the people affected by river erosion. Besides, steps have been taken for managing water resource, land use, and mitigating effects of the environment and climate change by re-excavating small rivers, canals and wetlands in 64 ... Read More »

Society: Financialisation destroys social solidarity

By Michael Lim Mah Hui and Jomo Kwame Sundaram Penang and Kuala Lumpur, Jun 4 2019 (IPS) – Finance has not stopped at dominating the real economy. The tentacles of finance have reached into significant, if not most parts of society. Gerald Davis characterises modern society, where finance is dominant, as a ‘portfolio society’, in which aspects of social life ... Read More »

World military spending at 3-decade high, biggest spender US

By Countercurrents TeamThe past year has been immensely successful for the war industry. The US is leading the charge, while some of its NATO allies are also buffing their war budgets citing the Russian threat despite Moscow decreasing its military spending. The driving force behind this increase is the growing appetite of the US military-industrial complex rather than real threats, ... Read More »

Dhaka signs US$ 2.5bn ODA deal with Tokyo

Tokyo, May 29 (UNB) – Bangladesh and Japan on Wednesday signed their 40th ODA deal involving US$ 2.5 billion for implementing four projects to bolster ties between the two countries. Economic Relations Division (ERD) Secretary Monowar Ahmed and Japanese Ambassador to Bangladesh Hiroyasu Izumi signed the ODA deal on behalf of their respective sides. Prime Minister Sheikh Hasina and her ... Read More »

Dhaka to sign US$ 2.5bn ODA deal during PM’s Tokyo visit

Dhaka, May 26 (UNB) – Bangladesh and Japan will sign their 40th ODA deal involving US$ 2.5 billion during Prime Minister Sheikh Hasina’s Japan visit on May 28-30 for implementing five projects as her visit is expected to bolster ties between the two countries. Foreign Minister Dr AK Abdul Momen came up with the information while briefing media at his ... Read More »