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The limits of art in a climate of fear

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Since 2013, Islamist assailants wielding machetes and knives have killed more than 30 people in Bangladesh. The targeted attacks on liberal bloggers, freethinkers and atheists have created a climate of repression. "Life is beautiful, but it's also a curse," sighs Pervaj Hassan Rigan as he searches for his best cartoons in a cramped drawer. Almost in passing, the young man mentions that for months he would always wear a motorcycle helmet to go shopping because he, too, was terrified that the machete of a radical Islamist might come down on his head. There came a point, though, where he decided that he could no longer live in constant fear and put the helmet aside. Blood on the boot [caption id="attachment_26641" align="alignleft" width="612"]

BD eyes settlement in $ 66m cyber heist

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An Ecuadorian bank and Wells Fargo have reached an out-of-court settlement over a 2015 cyber heist, providing a possible precedent for the Bangladesh central bank’s planned suit to recover $66 million still lost in one of the world’s biggest such cases. A suit by Ecuador’s Banco del Austro against Wells Fargo & Co (WFC.N) was quietly settled in February, less than a month before a trial date was set, and the U.S. district court in Manhattan sealed all discussions, according to court documents. No other major media has reported the settlement.

Bangladesh, UN blast Myanmar ‘propaganda’ on Rohingya

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Bangladesh and the United Nations refugee agency on Sunday disputed Myanmar’s claim it had repatriated five members of a Rohingya family, saying neither the government of Bangladesh nor the aid agency had any involvement in any such repatriation. Abul Kalam, the Bangladeshi government’s Refugee Relief and Repatriation Commissioner, said a family of five who were in the Konarpara area in no man’s land between the two countries, rohinga womanhad reentered Myanmar territory and had been taken to the reception center...

Fast fashion industry at risk from bank trouble

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Fast fashion is at risk of hitting a speed bump if a looming crisis sweeps through Bangladesh’s banking sector. Financial institutions in the south Asian nation face a credit crunch following mass deposit withdrawals in March and soaring levels of non-performing loans. Analysts and investors fear a full-blown crisis could spill over into Bangladesh’s strongest link to the global economy — the production of textiles and ready-made garments for fast fashion brands and retailers such as H&M, American Eagle Outfitters, Zara, Walmart and Target. “Although the loan book composition across commercial banks in Bangladesh tends to vary

Bangladesh development update: Building on resilience

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Bangladesh is continuing its strong development trajectory, even as the pace of poverty reduction has slowed down, according to a new World Bank report, “The Bangladesh Development Update April 2018.” Sustained economic growth driven by exports, domestic demand and remittances. Despite challenges, the country maintained robust growth. Its exports have rebounded – primarily led Bangladesh-Microloans-groupby the Ready-Made Garments (RMG) sector – with a 6.33% growth in FY18, comp...

Non-performing loans: Curse for sustainable growth

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Now that Bangladesh has graduated to developing country all efforts should be made to strengthen the banking sector which is the backbone of the economy. The requirements and challenges of many to a developing country must not be ignored and the best way to do this is strengthening the capital & liquidity ratio of the banks, according to the editorial of the current News Bulletin (Jan-Mar’ 2018) of International Chamber of Commerce-Bangladesh (ICCB) released on Wednesday. Non-Performing Loans (NPL) is one of the issues that is impacting capital adequacy of the industry specially the eight state-owned commercial and specialized banks. For decades, state-owned banks have been the prime leader to the large corporate borrowers particularly in the industrial sector of the economy. ...