At least 12 dead in pharmaceutical factory blast in India
At least 12 people have been killed and dozens more injured following an explosion and fire at a pharmaceutical factory in the southern Indian state o...
Bangladesh clinched two World Bank credits worth $850 million on Wednesday—$650 million to overhaul Chittagong’s Bay Terminal and $200 million to strengthen social protection—aiming to cut shipping costs, spur jobs and aid 4.5 million vulnerable citizens.
The World Bank and Bangladesh have signed two concessional loan agreements totaling $850 million to boost trade capacity, spur job creation and modernise the country’s social-safety net, the lender announced on Wednesday.
$650 million for Bay Terminal Marine Infrastructure Development – The funds will finance a six-kilometre, climate-resilient breakwater and new access channels at Chittagong, enabling the port to handle larger vessels. Officials expect shorter turnaround times and lower transport costs to save the economy about $1 million a day. When finished, the terminal should process roughly 36 percent of Bangladesh’s container traffic, benefiting more than one million people and expanding opportunities for women in port operations and trade.
$200 million for social-protection reform – The Strengthening Social Protection for Improved Resilience, Inclusion and Targeting project will deliver cash transfers, skills training, micro-credit and entrepreneurship mentoring to 4.5 million vulnerable people—especially youth, women, persons with disabilities and residents of climate-affected areas. A national registry will be created to sharpen beneficiary targeting and service delivery.
Both credits come from the World Bank’s International Development Association, which has committed over $45 billion to Bangladesh since 1971. Sustaining growth, said interim country director Gayle Martin, requires generating quality jobs for the nearly two million young Bangladeshis who enter the labour market each year.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
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Special envoys from Pakistan, China and Russia held an informal meeting in the Qatari capital on Monday to discuss regional cooperation on Afghanistan, Pakistani envoy Mohammad Sadiq confirmed in a post on X.
At least 12 people have been killed and dozens more injured following an explosion and fire at a pharmaceutical factory in the southern Indian state of Telangana, officials said on Monday.
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