New Bangladesh government to be formed Sunday

President Abdul Hamid is set to administer the oath of office to the members of the new cabinet Sunday (January 12th), which will be led by Prime Minister Sheikh Hasina, local media reported.

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On Thursday, 284 newly elected members of parliament were sworn in by Speaker Shirin Sharmin Chowdhury and Hasina was unanimously elected leader of parliament by the Awami League MPs, Prothom Alo reported.

Roushan Ershad, wife of former dictator H.M. Ershad-- now being detained at the Combined Military Hospital for his apparent refusal to participate in the election-- was elected leader of the opposition representing 34 Jatiya Party MPs.

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'Banglabloggers' a force in Bangladesh

Loathed by religious extremists and the ruling elite, Bangladesh bloggers are becoming more popular and powerful.

By Shahriar Sharif for Khabar South Asia in DhakaJanuary 11, 2014 A larger

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India throws full support behind new Bangladesh government

Indian Prime Minister Manmohan Singh congratulated his counterpart Sheikh Hasina hours after the new government took the oath of office Sunday (January 12th), saying India will stand by Bangladesh "in any situation", local media reported.

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Singh called Hasina to convey his "good wishes to her and the people of Bangladesh", bdnews24.com reported, quoting Hasina's press secretary, Abul Kalam Azad.

Singh's endorsement comes amid growing pressure to cancel the controversial election.

But Hasina told reporters she would continue to "serve my people and sustain the democratic process", the Ittefaq reported. She added that she would be willing to hold a dialogue with Bangladesh Nationalist Party (BNP) leader Khaleda Zia provided she wouldn't demand new elections under a neutral caretaker administration.

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Violence costs Bangladesh garment sector $900m

Political violence has cost the garment industry an estimated Tk. 7,200 crore ($900m) and it could face virtual collapse if the turmoil doesn't stop immediately, local media reported Tuesday (January 14th).

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According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), some 700 small- and medium-sized factories could face permanent closure by June, the Bangladesh Protidin reported.

"Political unrest is not uncommon in Bangladesh, but what has really caused this huge loss this time is the continuing violence and blockade at a stretch for the past three months," said BGMEA director Arshad Jamal Dipu.

Bangladesh needs to ensure political stability and create a congenial atmosphere for rebuilding global buyers' confidence for the sake of maintaining a sustainable export growth trend in the coming days, former BGMEA president Abdus Salam Murshedy, told the Dhaka Tribune.

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Unrest could hurt Bangladesh growth prospects: report

The World Bank said Wednesday (January 15th) political uncertainty and widespread disruptions surrounding national elections will likely hamper Bangladesh's economic growth, local media reported.

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In its report on Global Economic Prospects, the bank forecast GDP growth for the current fiscal year would remain at 5.7%, much lower than the government's projection of 7.2%, the Dhaka Tribune reported.

The bank also warned that continued social unrest coupled with safety problems in garment factories could adversely affect the country's manufacturing and export performance as well as "hamper a sustained revival of business confidence and investment".

Still, the government questioned the bank's forecast, as quick and effective measures could lead to higher growth.

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Bangladesh outshines India in prosperity rankings

Bangladesh ranked 103rd out of 142 countries on the 2013 Legatum Prosperity Index, while India fell five notches to 106.

By Syed Tashfin Chowdhury for Khabar South Asia in DhakaJanuary 17, 2014 A larger

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Bangladesh former army chief, 43 others charged in graft case

The Anti-Corruption Commission (ACC) approved chargesheets Thursday (January 16th) against the former army chief and 43 others in two separate cases of misappropriation and money laundering totalling Tk. 4,300 crore ($554m), local media reported.

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Retired Lieutenant General Harunur Rashid and Rafiqul Amin, president and managing director of Destiny Group, respectively, were among the chargesheeted for deceiving nearly a million people with the lure of giving them 46% interest for investing in two fraudulent projects, bdnews24.com reported.

While embezzlement and misappropriation cases are not unusual, this case gained national attention because a former army chief has been charged for the first time, the Bangladesh Protidin reported.

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