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Bangladesh's purchasing managers' index drops in July
The July reading of the Bangladesh Purchasing Managers’ Index (PMI) dropped a hefty 27 points from the previous month to record a sharp contraction at 36.9, said MCCI in its “Bangladesh Purchasing Managers’ Index (PMI) Report” on Thursday.
The Metropolitan Chamber of Commerce and Industry (MCCI) said the recent events of widespread unrest that culminated in the eventual resignation of the Prime Minister and fall of the government, have also had an impact on the economy.
“All key sectors of the economy recorded sharp contractions as the previous regime resorted to extreme measures to regain control. Nonetheless, there appears to be a silver lining as the future business index of all key sectors posted expansion readings,” said MCCI in the report.
This latest PMI reading was attributed to contraction readings recorded in all key sectors of agriculture, manufacturing, construction, and services.
The agriculture sector recorded a sharp contraction after 6 consecutive months of expansion. The sector posted a sharp contraction rate for the indexes of new business, business activity, and employment. However, the input costs index posted a faster expansion, whereas the order backlog index posted a slower expansion rate.
The manufacturing sector also posted a sharp contraction after 7 consecutive months of expansion.
The sector recorded a sharp contraction rate for the indexes of new orders, new exports, factory output, and supplier deliveries, whereas the employment index recorded a slower expansion.
However, faster expansion rates were recorded for the indexes of input purchases and input prices, and the finished goods index reverted to an expansion. The imports index reverted to a contraction, and the order backlog index posted a slower expansion rate.
The construction sector reverted to a contraction after 7 consecutive months of expansion. The sector recorded a sharp contraction in the indexes of new business, construction activity, and employment.
However the input costs index posted a slower expansion rate, and the order backlog index reverted to an expansion.
The services sector posted a sharp contraction after 7 consecutive months of expansion. The sector recorded a sharp contraction in the indexes of new business and business activity, a contraction in the employment index, a slower expansion in input costs index, and a slower contraction in the order backlog index.
In terms of the future business index, the chamber body said, slower expansion rates were recorded for the key sectors of agriculture and manufacturing.
However, the MCCI said, faster expansion was recorded for the key sectors of construction and services.
1 year ago
Majority of Americans say democracy is on the ballot this fall but differ on threat, AP poll finds
Roughly 3 in 4 American adults believe the upcoming presidential election is vital to the future of U.S. democracy, although which candidate they think poses the greater threat depends on their political leanings, according to a new poll.
The survey from The Associated Press-NORC Center for Public Affairs Research finds that most Democrats, Republicans and independents see the election as “very important” or “extremely important” to democracy, while Democrats have a higher level of intensity about the issue. More than half of Democrats say the November election is “extremely important” to the future of U.S. democracy, compared to about 4 in 10 independents and Republicans.
Democrat Pamela Hanson, 67, of Amery, Wisconsin, said she has grave concerns for the future of democracy in the country if Republican presidential nominee Donald Trump gets elected.
“His statements tend towards him being a king or a dictator, a person in charge by himself,” Hanson said. “I mean, the man is unhinged in my opinion.”
The UK goes to the polls in a national election with results expected early Friday
But Republican Ernie Wagner from Liberty, New York, said it's President Joe Biden's administration — of which Vice President Kamala Harris, the Democratic nominee, is a part — that has abused the power of the executive branch.
“Biden has tried to erase the student loans, and he’s been told by the courts that it’s unconstitutional to do that,” said Wagner, 85. “He’s weaponized the FBI to get at his political opponents.”
The poll findings suggest that many Democrats continue to view Trump as a threat to democracy after he tried to overturn the results of the 2020 election, embraced the rioters who attacked the U.S. Capitol on Jan. 6, 2021, and threatened to seek retribution against his opponents if he wins reelection.
But they also indicate that many of Trump’s supporters agree with him that Biden is the real threat to democracy. Trump and his allies have accused Biden of weaponizing the Justice Department as it has pursued charges against the former president over his effort to halt certification of the 2020 election and keeping classified documents, though there is no evidence Biden has had any involvement or influence in the cases.
France's exceptionally high-stakes election has begun. The far right dominated preelection polls
Trump has framed himself as a defender of American values and portrayed Biden as a “destroyer" of democracy. He said multiple times after he survived an assassination attempt last month that he “took a bullet for democracy.”
The poll, conducted in the days after Biden dropped out of the race and Harris announced her campaign, is an early glimpse of Americans' views of a reshaped contest.
Majorities of both Democrats and Republicans say democracy could be at risk in this election depending on who wins the presidency, responses generally in line with the findings when the question was last asked in an AP-NORC poll in December 2023.
Hanson, the Wisconsin Democrat, said she worries Trump in a second term would use the conservative-dominated U.S. Supreme Court to overrule important freedoms. She also is concerned that he would fill his Cabinet with loyalists who don’t care about the well-being of everyone in the country and defund agencies that regulate key functions of society.
But Wagner, the New York Republican, brushed off those concerns and pointed to Trump’s time in office.
“When he was in the White House, we had peace, we had prosperity, we had energy independence,” he said. “What’s undemocratic about that?”
He said he didn't think Trump's intentions leading up to and on Jan. 6 were criminal.
“I just think he was misguided," Wagner said.
Some independents also are carefully considering the stakes of the upcoming election on the country’s democratic future.
“I believe that this is the most important election of my lifetime,” said 53-year-old Patricia Seliga-Williams of LaVale, Maryland, an independent who is leaning toward voting for Harris.
Seliga-Williams said she’s barely scraping by on $15 an hour as a hotel breakfast attendant and remembers Trump handling the economy and immigration well. But she didn’t like it when he recently quipped that he plans to be a “dictator” on day one in office.
“We all know Donald Trump could run the country,” she said. “But he’s just too aggressive anymore, and I don’t think I can trust that as a voter.”
Not everyone agrees that this year's presidential election will be an inflection point for the country's democracy, offering starkly different reasons, according to the AP-NORC poll. About 2 in 10 Americans say democracy in the U.S. is strong enough to withstand the outcome of the election no matter who wins, while another 2 in 10 believe democracy is already so seriously broken that the outcome doesn’t matter.
The poll also shows the stakes of democracy in the election are felt more by older adults rather than younger ones. About half of adults 45 and older say the outcome of the election is extremely important for the future of democracy, compared to about 4 in 10 adults under 45.
“Making the claim that the other candidate is trying to destroy democracy, it doesn’t really land for me,” said Daniel Oliver, 26, an independent from suburban Detroit. “I think that we have things in place that should safeguard against when you kind of play at destroying democracy. We have other branches of government. We have people that believe in voting. So, it would be hard for a candidate to take over and become some kind of dictator.”
He said he’ll be looking for candidates to talk about issues he’s more interested in, such as reducing inflation and investing in clean energy sources.
Biden and Trump spent months sparring over whose second term would be worse for democracy. The president nodded to the consequences when he ended his campaign last month, saying in his Oval Office address that "the defense of democracy is more important than any title.”
Harris has focused more on the concept of “freedom” in the early days of her campaign. She has said Trump’s reelection could result in Americans losing the freedom to vote, the freedom to be safe from gun violence and the freedom for women to make decisions about their own bodies. Her debut campaign ad last month was set to Beyoncé’s 2016 track “Freedom,” and it has become a campaign anthem for her at rallies ever since.
Harris didn't mention democracy in her first two presidential campaign rallies, but she returned to the topic in remarks to Sigma Gamma Rho sorority members in Houston last week, saying “our fundamental freedoms are on the ballot, and so is our democracy.”
1 year ago
Police personnel returning to duty amidst public Support: Headquarters responds to rumours
In response to the directive issued to police personnel to return to their respective posts within 24 hours, various segments of society have stepped forward to ensure their safe mobilisation.
Citizens from different walks of life, including students, and the general public, are offering support to police members traveling to their workplaces, according to a statement issued by the Police Headquarters.
Contrary to recent reports suggesting that police officers are encountering obstacles on their way, the Police Headquarters in Dhaka has confirmed that no such incidents have been verified. “We urge everyone not to be misled by rumours,” said the headquarters in an official release.
The headquarters also emphasized the importance of dismissing unfounded rumours and maintaining focus on the collective goal of ensuring security and order.
1 year ago
BGB intensifies patrolling, surveillance at border to prevent escape of corrupt individuals
Border Guard Bangladesh has increased patrolling, surveillance at border to prevent the escape of corrupt individuals from the country.
Recently, after the victory of the anti-discrimination student and movement in the country, some corrupt and criminal individuals are attempting to flee the country. In such a situation, border patrols and intelligence surveillance have been increased, according to a BGB Headquarters press release on Wednesday.
Additionally, to prevent escape via the border, people are requested to assist by providing information to BGB through the phone numbers +8801769-600682 and +8801769-620954, it said.As a result of the enhanced patrols and intelligence efforts, the BGB detained four individuals: one at the Sonamasjid ICP in Chapainawabganj, one at the Benapole ICP in Jashore, and two at the Darshana ICP in Chuadanga.
1 year ago
Private sector will work hand in hand with interim government to rebuild country's economy: ICCB President
Welcoming the decision to choose Dr Mohammad Yunus as the head of the interim government, International Chamber of Commerce, Bangladesh (ICCB) President Mahbubur Rahman has said Bangladesh's private sector will work hand in hand with the interim government to rebuild the country's economy.
“The main driving force in the country's economy is the private sector, so the government must take special initiatives to develop this sector,” he told reporters in a statement on Wednesday on the current situation in Bangladesh and the role of businesses.
Rahman said they heartily congratulate the anti-discrimination students for achieving this historic victory through an unprecedented movement.
“This movement was accelerated by the solidarity of the teaching community and common people,” he added.
The ICCB expressed condolences for the death of hundreds of students, children and innocent people. “I call for martyrdom status for those killed in the violence and compensation for their families,” Rahman said.
He said to provide proper treatment to the injured and to rehabilitate those who are crippled. “Bring the law and order situation under control at the earliest. Adopting safety measures to ensure production and supply chain of all factories.”
In addition to the loss of life and property in the last 1 month, all kinds of business and trade have been damaged, although the economy has been weakened due to long-term looting, so everyone should take the initiative to fix it through discussion on how to turn around.
“A strong role must be played to strengthen the economy including the banking sector of Bangladesh. All efforts to earn foreign exchange should be continued and intensified,” Rahman said, adding that necessary measures need to be taken to bring the inflation to a bearable level.
1 year ago
Ex-PM’s principal secretary Tofazzel Hossain Miah’s contractual appointment cancelled
The contractual appointment of Tofazzel Hossain Miah, principal secretary to the Prime Minister’s Office, has been cancelled.
The cancellation was made by an order from the president, according to a notification signed by Deputy Secretary Bhaskar Debnath of the Ministry of Public Administration on Wednesday.
Previously, the government had extended Tofazzel's contractual appointment for an additional year on June 27 of this year.
1 year ago
Labour tribunal acquits Prof Yunus, three others of labour law violation
Nobel Laureate Professor Muhammad Yunus, tipped to be the head of a proposed interim government, was on Wednesday acquitted by a labour tribunal in a labour law violation case.
A Dhaka tribunal acquitted Prof Yunus and three top officials of Grameen Telecom of a labour law violation case, his lawyer Khaja Tanvir Ahmed said.
Chairman (in-charge) of the Labour Appellate Tribunal MA Awal delivered the verdict a day before Yunus is likely to take over as the head of an interim government following the fall of Prime Minister Sheikh Hasina’s government in a student-led mass upheaval.
On January1, 2024, the Labour Court-3 of Dhaka sentenced Prof Yunus, also chairman of Grameen Telecom, and its directors Ashraful Hassan, M Shahjahan and Nurjahan Begum to six months' imprisonment each for allegedly violating labour laws.
The four were also fined Tk 30,000 each, in default of which they would have to serve 25 more days in prison.
On January 28, Prof Yunus and his colleagues filed appeals with the Labour Appellate Tribunal against the labour court's sentence.
On September 9, 2021, Labour Inspector (General) SM Arifuzzaman filed the case with the Labour Court-3 of Dhaka against the four.
1 year ago
New IGP orders all policemen to join duty within 24 hours
Newly appointed Inspector General of Police (IGP) Md Mainul Islam has ordered all policemen, who fled during the turmoil or are absent from their respective workplaces, to join duty within 24 hours.
The IGP came up with the order while speaking at a press briefing held at Police Headquarters on Wednesday afternoon.
“All policemen have to report to their respective workplaces by Thursday. We are not sitting idle; we are working. Many of us died and were injured during the violence,” he said.
New IGP appointed
He also pledged to take various initiatives to make the police more people-friendly.
He commented that many of their colleagues have been killed and injured due to “unprofessional and ambitious” officers not following policies and violating human rights.
IGP Abdullah Al Mamun's tenure extended by one year
He emphasized the need to ensure the safety and quality of life for all police officers.
He said, “Everyone from Rajarbagh, headquarters, all metropolitan areas, and all districts must join their respective workplaces by tomorrow evening.”
1 year ago
After UK’s reported rejection, is Sheikh Hasina considering other asylum options?
Following the UK government’s reported refusal to grant asylum to deposed Bangladeshi leader Sheikh Hasina, she is exploring other options for refuge. Reports indicate that Hasina is considering relocating to countries where her family members are based.
Hasina’s daughter resides in Delhi, her son in the United States, and her nephew in Finland, according to Firstpost.
Currently in India, Hasina arrived on short notice and is expected to leave for another country once a government agrees to grant her asylum.
Former PM Hasina now in India, her US visa status unclear
After weeks of mass protests against her rule, which peaked on Sunday with nearly 100 fatalities, Hasina resigned as Prime Minister on Monday and fled Bangladesh, arriving in India. Initially, she planned to seek refuge in London, but the UK’s rejection has led her to consider alternative destinations.
One option is the United States, where Hasina’s son, Sajeeb Wazed Joy, resides. However, given the United States’ critical stance towards her government, it is unlikely she will be granted refuge there.
UK clarifies asylum rules amid speculation on Sheikh Hasina’s next move
While Hasina could travel as a private citizen, she requires political assurances due to longstanding accusations of human rights violations. In the liberal West, she risks facing legal challenges without such guarantees, making it unlikely she will move without assurances.
Another possibility is Finland, home to her nephew, Radwan Mujib Siddiq, as reported by The Hindu. Radwan is the son of Hasina's sister, Sheikh Rehana, who also fled Bangladesh with her and is currently in India.
In addition to these options, Hasina is reportedly considering temporary residence in the United Arab Emirates (UAE), Saudi Arabia, Belarus, or Qatar, according to PTI.
1 year ago
Khaleda calls for refraining from destruction, vengeance
BNP Chairperson Begum Khaleda Zia on Wednesday called upon the people for refraining from destruction, revenge and vengeance for building the society with love and peace.
“Let’s come forward to strengthen the hands of the youth. There should be no destruction, no revenge and no vengeance. We want to build a knowledge-based society with love and peace,” she said.
The BNP chairperson came up with this call in a video message screened at a grand rally arranged by BNP at its Nayaplatan central office in the capital.
It was Khaleda’s first speech as a free person after President Mohammad Shahabuddin commuted her jail terms on Tuesday. She was jailed in 2018 on corruption charges brought by now-ousted Awami League government. She and her party called the charges as politically motivated.
The BNP chief extended her sincere thanks to heroic children for making this impossible possible by achieving this victory and showed respect to the hundreds of martyrs who lost lives in the recent student-led mass movement that ensured the fall of Sheikh Hasina regime.
“We’ve got relief from the fascist and illegal government through a long movement, struggle and sacrifice. We want to extend sincere thanks to our heroic children who made this impossible possible in a do-or-die struggle,” she said.
Khaleda Zia, a former prime minister, said this victory has created a new possibility for the nation to rebuild the country. “We’ve to build a prosperous Bangladesh from the long practice of unprecedented corruption and debris of destroyed democracy. Students and youth are our future,” she added.
She urged all to come forward to develop a modern Bangladesh based on peace, progress and equity by ensuring the rights of all people irrespective of casts and creed.
“We’ll have to build a democratic Bangladesh based on merit, competency and knowledge to fulfill the youth’s dreams for which they shed their blood,” the BNP chairperson said.
Begum Khaleda Zia, who was officially released on Tuesday last, also extended thanks to the people for struggling for freeing her from jail and wishing her recovery.
1 year ago