Solar Eclipse 2024: As I watched the tiny Moon devour the blazing Sun
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The Great American Solar Eclipse of 2024 mesmerized about 3.2 crore people. The path of totality traversed diagonally from Texas to Maine in the United States. Solar eclipses have been a source of myths, legends, and superstitions across civilizations. In Hindu mythology, eclipses are caused by the demon Rahu swallowing the Sun. In ancient China, a celestial dragon was thought to eat the Sun during an eclipse. Solar eclipses are believed to be a danger to pregnant women and their unborn children in many cultures. There is no scientific evidence supporting these beliefs. The author traveled to Houlton, Maine, to witness the total solar eclipse. The driving time from his son's apartment to Houlton was eight hours due to heavy traffic. About 30,000 visitors came to Houlton to watch the eclipse. The Moon slid into perfect alignment with the Sun at 14:37, and as the Sun became crescent-shaped, light gradually faded into an eerie twilight. During totality, the air became chilly, stars appeared, and the world plunged into complete darkness. The eclipse was adorned with Baily's beads, a diamond ring effect, and solar prominences. The author describes the sense of amazement and euphoria of witnessing the eclipse with his son. The magical experience was worth the 16-hour round trip. The longest phase of the eclipse was the partial eclipse that lasted for about 90 minutes.
#SolarEclipse #Myths #Superstitions #Houlton #Maine
IMF cuts GDP growth forecast for Bangladesh again
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The International Monetary Fund (IMF) has revised down the growth forecast for Bangladesh's economy for the ongoing fiscal year. The economy is now expected to grow by 5.7 percent in 2023-24, lower than the previous forecast of 6 percent. The GDP projection was initially 6.5 percent. The downward revision comes as the IMF raised its outlook for the global economy for 2024. The World Bank has forecast Bangladesh's real GDP growth to remain relatively subdued at 5.6 percent in FY24. The Asian Development Bank, however, has projected a 6.1 percent economic growth rate for Bangladesh. The IMF also projected a 6.8 percent GDP growth for India, 2 percent for Pakistan, 5.2 percent for the Maldives, 4.3 percent for Bhutan, and 3.1 percent for Nepal. Bangladesh has been experiencing an economic crisis due to escalated prices of global commodities and a dollar crunch. Inflation in Bangladesh is expected to stay above 9.3 percent in the current fiscal year and may decelerate to 6.1 percent in FY25. The slower growth is driven by a modest recovery in private consumption supported by a moderation in inflation. Persistent inflation is expected to weigh on private consumption growth, and shortages of energy and imported inputs combined with rising interest rates and financial sector vulnerabilities are expected to dampen investor sentiment.
#Imf #GdpGrowthForecast #Bangladesh #Economy
Wood plastic composites gaining popularity
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Wood plastic composites in the form of kitchen cabinets, bathroom and balcony doors are slowly gaining popularity in Bangladesh as an alternative to wood. The composites are a combination of wood particles or fibers and thermoplastics, offering a durable and low-maintenance alternative. The annual sales of doors made of all types of materials stands at around Tk 3,000 crore, while the annual sale of wood plastic composite doors amounts to around Tk 240 crore to Tk 250 crore. There are at least three manufacturers in the country -- Pran-RFL Group, N Mohammad Group, and National Polymer Group. Wood plastic composites look like natural wood but absorb very little moisture and are almost 50 percent less expensive than teak. Each door is priced at around Tk 14,000 and is durable and environmentally friendly. The wood plastic composite market is currently dependent on imports, but National Polymer Group aims to grab a bigger portion of the sales. The sales of wood plastic composites are increasing steadily as they are a good alternative to wood and more durable than plastic. The market assessment shows that wood plastic composite doors are gaining more popularity than non-plasticised polyvinyl chloride or UPVC doors. Wood plastic composites are used in bathrooms, kitchens, and balconies as they are waterproof, durable, and environmentally friendly. However, the attraction for natural wooden doors will never die down. The manufacturers believe that wood plastic composites will gradually dominate the market for doors.
#WoodPlasticComposites #KitchenCabinets #Doors #AlternativeToWood #Manufacturers #MarketSales
Bank of Japan hints at near-term rate hike, pushing yields higher
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Bank of Japan Governor Kazuo Ueda hints at a near-term rate hike as bumper pay hikes push up prices, driving two-year Japanese bond yields to their highest in more than a decade. Ueda mentions that if currency moves significantly drive inflation and wages, the central bank could respond with monetary policy, suggesting that sharp yen falls could affect the timing of the next rate hike. Japanese Finance Minister Shunichi Suzuki also warns about excessive yen falls. The BOJ expects inflation to pick up from summer towards autumn as wage increases begin to give households purchasing power. The BOJ's conviction is that rising wages and inflation will help make the case for hiking short-term rates from the current 0-0.1 percent level as soon as July. The BOJ releases fresh quarterly growth and inflation forecasts at its next meeting in April 25-26. A Reuters poll shows more than half of economists expecting another rate hike this year, with October-December the most popular bet on the timing. Japanese firms agreed to raise wages 5.24 percent this year, the highest increase in 33 years. The BOJ says wage hikes are broadening to smaller firms in regional Japan, prodding firms to pass on labor costs through price hikes. However, the weak yen complicates the BOJ's policy path. Ueda signals that exchange-rate developments could serve as a reason to raise interest rates if they push up inflation via higher import costs. The yen has been on a downtrend despite the BOJ's exit from ultra-loose policy, as traders interpret its dovish language as signaling the next rate hike would be some time away.
#BankOfJapan #InterestRates #Inflation #Yen #Wages
40 journalists faced violence, intimidation in March
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At least 40 journalists faced various forms of attacks, intimidation, threats, and harassment in 15 incidents in March, according to a report by the Manabadhikar Shongskriti Foundation (MSF). In February, 13 journalists faced such assaults and threats in nine incidents. Journalist Shafiquzzaman Rana was sent to jail on charges of "misconduct" while seeking information from a UNO office in Sherpur. Dhaka International University suspended 10 students for forming a journalist committee. Furthermore, 17 journalists were injured and attacked, three faced threats, and eight were harassed across the country. Ruling party members were involved in four incidents, UP chairmen in three, government officials in two, university authorities in one, land grabbers in one, and local influential people in four. The report emphasized that these attacks aim to silence objective and truthful journalism. Additionally, three incidents occurred last month in which law enforcement agencies picked up individuals, including political leaders and activists, who were later shown arrested in cases. A total of 12 people died in prison in March, and MSF demanded an improvement in medical conditions inside jails. In March, there were 247 incidents of violence against women and children, including 38 incidents of rape, nine of gang rape, and one of murder after rape. The MSF report blamed government inaction for border killings by the Indian BSF, stating that at least four Bangladeshis were killed and five injured in such firing in March.
Consistently inconsistent: The US’ credibility hangs in the balance
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The US has a history of reversing its foreign policy decisions, which has led to inconsistency in its credibility. Despite vocalizing concerns about human rights and democratic norms, the US remains persistent in pursuing deeper ties with Bangladesh on economic and strategic fronts. However, its actions in supporting Israel while preaching about human rights and democracy have eroded its credibility and risk increased isolation on the world stage. The US' foreign policy remains inconsistent in pushing for democratic norms but consistent in prioritizing strategic interests. To reverse the damage, the US must draw practical red lines with Israel and act in clear, concrete, and consistent terms.
#UsCredibility #ForeignPolicy #HumanRights #Democracy #IsraelpalestineConflict
Food security before Covid and now
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Bangladesh has made significant strides in several socioeconomic development indicators over the last 30 years. However, the Covid pandemic, as in the rest of the world, has caused disruptions in the country's development trajectory. The recently completed Sanem-GDI Household Survey 2023 produced some important insights. The national upper poverty rate fell from 21.6 percent in 2018 to 20.7 percent in 2023, primarily driven by the fall in rural poverty from 24.5 percent to 21.6 percent. However, urban poverty rate rose from 16.3 percent to 18.7 percent. The Multidimensional Poverty Index (MPI) headcount poverty rate fell from 25.8 percent in 2018 to 24.7 percent in 2023, with rural MPI poverty rate falling from 30.4 percent to 27.6 percent, but increasing in urban areas from 16.8 percent to 18 percent. Rising urban poverty and food insecurity call for widening social security programs and expanding open market sales (OMS) or food-friendly programs. The prolonged closure of educational institutions during the Covid pandemic contributed to a great level of learning loss, with only 33 percent of urban and 21 percent of rural households having access to online education/distance learning. After schools reopened, 15 percent of school-aged children were not attending schools in 2023, with the rate increasing among the lowest-income households. Food insecurity worsened between April and October/November 2023, with nearly 22 percent of all households being moderately food-insecure and three percent being severely food-insecure. Poor households experienced more severe food insecurity than non-poor households, and urban areas had more severe food insecurity than rural areas. Urgent policy directives are needed to address rising urban poverty and food insecurity, including widening social security programs, expanding open market sales (OMS) or food-friendly programs, and addressing concerns of increased dropout rates and learning loss among children. The government should explore options for reducing inflationary prices, including liberalizing import tariffs for essential food products temporarily.
#FoodSecurity #Poverty #Inequality #Bangladesh
https://www.thedailystar.net/opinion/views/news/food-security-covid-and-now-3576621