Search Results for: economic recession

political-turmoil-reason-behind-economic-slowdown-in-bangladesh

Political turmoil reason behind economic slowdown in Bangladesh

Dhaka, May 1 (ANI): Experts blamed political unrest and uncertainty surrounding elections held in January for economic slowdown in Bangladesh. As predicted by International Monetary Fund (IMF), Gross Domestic Product (GDP) of Bangladesh this year is to be a little over five percent, lower than the six percent GDP last year. Apart from the political instability, investment stagnation and reduced remittance inflows are also quoted as major cause of slowdown. As per Bangladesh Bank, remittance flow has dipped by seven percent in the initial eight months of this fiscal year. The country went through a period of nationwide protests and turbulence during the elections that took place on January 05, 2014. But one of the blows that the youth faces due to the slowdown is the growing unemployment. Executive Chairman of PPRC, Hossain Zillur Rahman said Bangladesh cannot expect a vibrant economy below eight percent GDP. Therefore, to recover from the slowdown and battle chronic poverty, country's government needs to encourage investment and develop business confidence among other solutions. May 1, 2014
congress-refers-to-world-bank-report-hits-back-at-bjp

Congress refers to World Bank report, hits back at BJP

New Delhi, May 01 (ANI): Congress hit back at main opposition Bharatiya Janata Party BJP, citing the World Bank report which enlisted India as third biggest economy in the world. According to a report released by World Bank on April 29, India displaced Japan to clinch the position of world’s third biggest economy in terms of purchasing power parity. Targeting BJP’s prime ministerial candidate Narendra Modi for his sharp attacks on Congress party and alleging weak economic policies and development fallouts during its terms, Congress leadership retorted back saying the World Bank report is an ‘answer’ to them. He added that party is not anticipating incumbency threat to Prime Minister Manmohan Singh and clarified that he has attended maximum number of election campaigns. Ahmad reaffirmed that India has achieved the feat because of Singh’s efforts. May 1, 2014
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India and Georgia sign MoU for enhancing trade and economic cooperation

New Delhi, April 30 (ANI): The first session of the India-Georgia Intergovernmental Commission on Trade, Economic, Scientific and Technological, Cultural and Educational Cooperation was held on April 29 in New Delhi, where both countries signed a Memorandum of Understanding (MOU) to promote mutual interests. The Indian delegation was led by Dinkar Khullar, Secretary (West) in the Ministry of External Affairs (MEA) whereas the Georgian delegation was headed by David Jalagania, Deputy Foreign Minister. Deputy foreign minister of Georgia, David Jalagania at the India-Georgia Intergovernmental Commission thanked everyone for sharing ideas for the strengthening of ties and mutual interests. Apr 30, 2014
at-26-spain-unemployment-rate-should-improve

At 26% Spain unemployment rate should improve

Spain's unemployment rate climbed to nearly 26 percent in the first quarter of 2014 as millions searched in vain for a job in a sluggish recovery from recession. Duration: 01:10 Apr 30, 2014
congress-has-set-world-record-in-corruption-nitin-gadkari

Congress has set world record in corruption: Nitin Gadkari

Lucknow, Apr 28 (ANI): Senior BJP leader, Nitin Gadkari, on Monday said that the country is reeling under inflation and price rise due to wrong economic policies and mis-governance of Congress party-led central government. Addressing a news conference in Lucknow, Gadkari slammed Congress party and its alliance United Progressive Alliance (UPA), saying they had created a world record in corruption. Gadkari said people of the country are hopeful of Narendra Modi and believe that a change will come in the country. Apr 28, 2014
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Meteorological department sees below-average monsoon in 2014

New Delhi, April 26 (ANI): Director General of Indian Meteorological Department, Laxman Singh Rathore, said that India was likely to have below-average monsoon rainfall in 2014. Patchy rain could hit planting of crops such as soybeans, rice, corn and cotton, pressuring economic growth that has nearly halved to below five percent in the past two years. Poor crops could in turn raise food inflation now stuck at nine percent. Below-average rains in the June-September monsoon season may create a headache for the new government, expected to formed after results of the general election are announced on May 16. The last time India faced a drought with rainfall below the normal range was in 2009 and prior to that, in 2004 and 2002 - with El Nino hitting the Indian monsoon season on each occasion. Apr 26, 2014
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