Nation this week
The United States ruled out the claim regarding US involvement in the ouster of Sheikh Hasina in Bangladesh and described it as 'laughable' as well as 'absolutely false'. Vedant Patel, the principal deputy spokesperson of the State Department, made the statement at a press briefing on Tuesday. While placing a query, a journalist informed him that Sheikh Hasina accused the US of orchestrating mass protests which eventually led to her ouster after weeks of violence.
In response, Patel said, "That is laughable. Any implication that the US was involved in Sheikh Hasina's resignation is absolutely false. We have seen a lot of disinformation in recent weeks, and we remain incredibly committed to strengthening information integrity across the digital ecosystem, especially with our partners in South Asia." Recently, an Indian media outlet quoted her saying that the US was behind her ouster as she did not comply with their proposal on St. Martin's Island. Her son, however, dismissed the report, saying that Sheikh Hasina issued no such statement.
India's Adani Group said that a recent amendment to India's Power Export Guidelines will not affect the existing Power Purchase Agreement between Adani Power and the Bangladesh Power Development Board. "The amendment to India's Power Export Guidelines is just an industry enabling universal provision for the exporting power stations in India to establish connection with the Indian grid. This does not affect the existing PPA between Adani Power and the BPDB", it said in a statement on Wednesday.
Experts however are of the view that the amendment now allows Adani Power to sell the electricity generated at the plant in Godhra, Jharkhand, to other buyers. Previously it was bound by law to export all of it to the Bangladesh government. The amendment was probably timed to help the company hedge against political risks in Bangladesh. Reports are already emerging that BPDB officials will urge the new administration to review the PPA.
S and P Global Ratings said the political situation in Bangladesh has exacerbated the banking industry's frailties including weak liquidity, thin capital buffers, and ailing asset quality. "We see the risk of policy inaction and a potential slowdown in financial reforms," said S and P Global Ratings credit analyst Shinoy Varghese. At Bangladesh Bank, the departure of some senior officials could delay ongoing structural reforms. It noted the impending corrective actions in March 2025 that would have forced many banks to focus on capital adequacy, stressed assets, and weak corporate governance.
"Nonetheless, we believe the day-to-day operations of Bangladesh Bank are unaffected. The central bank has been able to provide liquidity backstops to banks, both in domestic and foreign currencies, and also conduct clearing and settlement," S and P said. Meanwhile the new central bank governor, Dr Ahsan Mansur, dropped the strongest hint yet that a banking commission or taskforce would be formed to look into the problems in the banking sector, and suggest ways to overcome them.
Former State Minister for Posts, Telecommunication and Information Technology Zunaid Ahmed Palak and former Deputy Speaker Shamsul Haque Tuku became the latest Awami League big fish to be caught in the net of the interim government, which stepped up its activity to apprehend the beneficiaries of the previous regime. Palak and Tuku were said to be hiding in Nikunja. It came after the court of the Chief Metropolitan Magistrate Dhaka on Wednesday (Aug. 14) put Salman F Rahman, private industry and investment adviser to ousted Prime Minister Sheikh Hasina and former law minister Anisul Huq on 10-day remand in a murder case.
The remand was granted in connection with the killing of a shopkeeper in New Market area on July 16. Salman and Anisul were arrested in Dhaka's Sadarghat on Tuesday in connection with the murder of a store employee, according to the police. Both were brought from the Detective Branch office under heavy security and produced before the court. None appeared on behalf of the accused.
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