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Saudi Arabia, Bangladesh to sign security coop

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Bangladesh and Saudi Arabia consulting to sign 2 agreements including security cooperation and the Mecca Road Initiative during the visit of the Saudi deputy interior minister, Dr. Nasser bin Abdulaziz Al-Daoud, to Bangladesh next month, November.

The Saudi deputy minister is scheduled to visit Dhaka on 11-12 November, told by the Saudi Ambassador in Dhaka on Wednesday, 27 October.

He noted that the visit would reflect the importance of the bilateral ties between both Bangladesh & Saudi Arabia.

The home ministry of Bangladesh is to sign the agreement on security cooperation on behalf of the country.

This agreement will see enhanced cooperation between both countries in capacity building, skill development and exchange of visits of security personnel.

Hence, The Makkah Road Initiative was floated to facilitate the smooth travel of pilgrims by easing procedures.

The initiative was launched by the Ministry of Interior within the Doy of Al Rahman Program, one of the programs of the Kingdom Vision 2030.

Under the initiative, the Saudi teams complete the travel procedures for the beneficiary pilgrims in their respective countries.

The initiative starts with issuing the visa electronically and taking the vital characteristics, passing through the completion of passport procedures at the airport of the country of departure after verifying the health requirements, in addition to coding and sorting luggage according to transportation and housing arrangements in the Kingdom.

The pilgrims who benefit from the initiative upon their arrival at King Abdulaziz International Airport in Jeddah and Prince Mohammed bin Abdulaziz International Airport in Madinah, are directly transported in buses to their places of residence in Makkah and Madinah, while the service authorities undertake the delivery of their luggage to their residences.

The process was experimentally introduced recently in seven countries including Bangladesh.

After the signing of the agreement it will be a permanent process, an official said.

Meanwhile, welcoming the visit of the Saudi minister, Foreign Minister Dr. AK Abdul Momen said in recent times Saudi Arabia has come up with many good investment proposals also.

He also informed that both countries are working to facilitate the visit of the Crown Prince of Saudi Arabia Mohammad Bin Salman Al Saud to Dhaka.

He may visit Bangladesh at the beginning of the next year on our invitation, he added.

The Saudi minister will meet with Prime Minister Sheikh Hasina, the foreign minister, the expatriate minister and other dignitaries.

Meanwhile, the foreign minister mentioned that at the request of the foreign ministry the Saudi Ambassador has agreed to postpone the realization of new biometric fees for the time being.

The foreign minister said that recently there was a misunderstanding between the Bangladesh Association of International Recruiting Agencies (BAIRA) and the Saudi Embassy over the visa application fees and procedure.

“I was told that a worker will have to pay 40 dollars as a biometric fee but the Ambassador told me it is four dollars only and these fees will be provided by the employer” Dr. Momen said.

He said that as he requested to postpone the decision until a meeting of all the stakeholders, the Saudi Ambassador expressed his satisfaction and agreed to do so.

Terming the Saudi envoy ‘a dynamic person’ the foreign minister said, after the arrival of this Ambassador, the number of visa issuance has risen and presently, over 4.5 thousand visas are being issued by the Saudi Embassy every day.

Saudi Arabia is the top manpower destination for Bangladesh as it accounts for more than 32pc of Bangladesh’s labor exports.

Manpower export is the country’s second-largest forex earning source after the readymade garment sector and more than 20pc of Bangladesh’s remittances come from the gulf country.

 

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Economy

PM Sheikh Hasina apprehended such strike by BNP-Jamaat to halt country’s prosperity

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Sheikh Hasina

Referring to the countrywide recent havoc and atrocities, Prime Minister Sheikh Hasina today said that she had an apprehension there might be a strike like this by the BNP-Jamaat clique to pull down the country’s prosperity.

“. . . they (BNP-Jamaat) had wanted not to hold the elections, but we had arranged the elections. After election they thought it wouldn’t be accepted by all, but we’ve also made it acceptable to all and we’ve formed the government. It was an apprehension to me that there would be a strike like this,” she said.

The Premier made this remarks while exchanging views with editors, senior journalists and head of news of various media outlets, organised by Editors’ Guild at her office (PMO).

She mentioned that before and after the election in 2013-14, the BNP-Jmaat clique unleashed arson attacks and killings that left hundreds of people killed and thousands injured.

“It was little bit understandable that this (the activities and movement of the students) was a grave conspiracy,” she said.

Sheikh Hasina said that she didn’t want any incident which might invite any unwanted situation that will invite instability in the country. “It was the target to destroy country’s economy,” she said.

She questioned about the understanding level of the people who supported these mayhem aiming to cripple the country’s advancement and prosperity.

Sheikh Hasina, also the chief of Awami League, said that vested quarter is highly interested to destroy country’s independence and the continuation of the democracy that is going on for long 15 years.

She again said that she never wanted to deploy army personnel in the field while the students were there for the sake of their security.

 

“While they (students) declared that they are not involved in the on going subversive activities then we called for army,” she said.

The premiers also said that she also didn’t want to impose curfew as the country is going through a democratic environment for 15 years.

She requested the people to resist those who have done this bane for the country. “They have destroyed all the structures have been built for their welfare and livelihood. They have struck all those structures. Who will be the worst sufferer? Of course, mass people. Now it is the responsibility of the mass people to resist these terrorism and militancy,” she said.

The premier called for creating mass awareness against the militancy that has opened in the destructive activities.”If the people don’t become aware then what could we do or how much we could do alone,” she said.

She also mentioned that the targets of the recent mayhem was Awami League, Freedom Fighters and pro-liberation forces.

The Prime Minister said that when all demands of the quota-free movement students were accepted why they gave scope to the militants for doing such heinous activities.

“One day the quota-free movement activists have to answer to the nation, why they gave such opportunity to them for this destruction to the country,” she said.

PM’s Press Secretary Md Nayeemul Islam Khan moderated the programme, while Editors’ Guild president Mozammel Huq Babu delivered welcome address.

Senior journalist Abed Khan, Bangladesh Pratidin editor Nayeem Nizam, DBC Editor-in-Chief and CEO Monzurul Islam, Bhorer Kagoj Editor and Jatiya Press Club general secretary Shyamol Dutta, Daily Jugantor Editor Saiful Alam, Jatiya Press Club president Farida Yasmin, Dhaka Journal chief editor Syed Istiaque Reza, Head of News Nagorik TV Dip Azad, Amader Somoy Editor Mainul Alam, Bangladesh Journal editor Shajahan Sarder, DBC news editor Zayedul Ahsan Pintu, Ashish Saikat of Independent TV, Bangla Tribune editor Zulfiquer Russell, head of News of 71 TV Shakil Ahmed, Energy and Power Editor Mollah Amzad, Head of News of Kings News Nazmul Huq Saikat and Mamunur Rahman Khan of RTV also spoke.

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UK inflation holds at 2% in June: official data

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UK Inflation

Britain’s inflation rate held steady in June after returning to the Bank of England’s target the previous month, official data showed Wednesday, confounding expectations for another modest slowdown.

The Consumer Prices Index was unchanged at 2.0 percent in June from the same level in May, the Office for National Statistics said in a statement, compared with market forecasts of 1.9 percent.

“Hotel prices rose strongly, while second-hand car costs fell but by less than this time last year,” said ONS chief executive Grant Fitzner.
“However, these were offset by falling clothing prices, with widespread sales driving down their cost.

“Meanwhile, the cost of both raw materials and goods leaving factories fell on the month, though factory gate prices remain above where they were a year ago.”

Analysts said the data could cause the Bank of England to sit tight for a while longer before starting to cut interest rates.

“The chances of an interest rate cut in August have diminished a bit more,” said Paul Dales, chief UK economist at research consultancy Capital Economics.

Last month, the BoE kept its key interest rate at a 16-year high of 5.25 percent, despite slowing inflation in May.

Britain’s newly elected Labour government welcomed news that inflation remained at the BoE’s target level.

“It is welcome that inflation is at target,” said Darren Jones, Chief Secretary to the Treasury, in a statement.

“But we know that for families across Britain prices remain high… (which) is why this government is taking the tough decisions now to fix the foundations” of the UK economy, he said.

Labour, led by new Prime Minister Keir Starmer, has pledged immediate action to grow the economy after the centre-left party won a landslide general election victory to end 14 years of Conservative rule.

Later on Wednesday, King Charles III will read out Labour’s first programme for government in a decade and a half, when the UK parliament formally reopens following the July 4 election.
Elevated interest rates have worsened a UK cost-of-living squeeze because they increase borrowing repayments, thereby cutting disposable incomes and crimping economic activity.

The BoE began a series of rate hikes in late 2021 to combat inflation, which rose after countries emerged from Covid lockdowns and accelerated after the invasion of Ukraine by key oil and gas producer Russia.

 

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China’s economy grew less than expected in second quarter: official data

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China’s economy grew 4.7 percent year-on-year in the second quarter of 2024, official data showed Monday, less than analysts had expected.

“By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,” Beijing’s National Bureau of Statistics (NBS) said in a statement.

The figures were much lower than the 5.1 percent predicted by analysts polled by Bloomberg.

Retail sales — a key gauge of consumption — also slowed to just two percent in June, the NBS said, down from 3.7 percent in May.

The world’s second-largest economy is grappling with a real estate debt crisis, weakening consumption, an ageing population and trade tensions with Western rivals.

Top officials are meeting in Beijing on Monday for a key plenum, with all eyes on how they might kickstart lacklustre growth.

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