US to hit new debt limit as soon as Jan 14: Yellen
US to hit new debt limit as soon as Jan 14: Yellen

Extraordinary measures will be needed to keep the US from defaulting on its obligations if the nations debt ceiling isnt raised or suspended by mid-January, Treasury Secretary Janet Yellen warned Congress on Friday. Yellen, in a letter to House and Senate leaders, noted that the nations debt...

Govt faces challenges in settling huge debts to Adani
Govt faces challenges in settling huge debts to Adani

Adani Power has escalated its efforts to recover dues from Bangladesh, with the companys Chairman Gautam Adani threatening to cut off the power supply unless payments were made. The warning was issued in a letter to the chief advisor of the interim government Prof Muhammad Yunus. The interim...

Heavy burden of foreign debt
Heavy burden of foreign debt

Bangladesh is grappling with a mounting foreign debt burden, which has surged by 282% over the 14 years of the Sheikh Hasina government. When the Awami League assumed power following the December 2008 elections, the countrys foreign debt stood at $26.572 billion by the end of 2010. By the close...

Sri Lanka eases monetary policy, sets new single benchmark rate
Sri Lanka eases monetary policy, sets new single benchmark rate

Sri Lankas central bank set a new single policy rate of 8 per cent on Wednesday, easing monetary settings below previously used benchmarks, in an effort to shore up the island nations fragile recovery from a deep financial crisis. The Central Bank of Sri Lanka (CBSL) said late on Tuesday that it...