S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?
Shares of Walmart-backed Ibotta soar on public debut
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?
Shares of Walmart-backed Ibotta soar on public debut
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?
Shares of Walmart-backed Ibotta soar on public debut
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?
Shares of Walmart-backed Ibotta soar on public debut

Power back in Bangladesh after grid failure causes blackout


Staff at an eatery work by candle light after a failure in Bangladesh's national power grid plunged much of the country into a blackout in Dhaka, Bangladesh, Tuesday, Oct.4, 2022. (AP Photo/Mahmud Hossain Opu)

DHAKA, Bangladesh (AP) — Electricity supply across Bangladesh has been restored after the South Asian country plunged into a blackout following the failure of its national power grid, officials said.

The blackout, which impacted much of the country, started at 2:05 p.m. on Tuesday and lasted for nearly seven hours before power was completely restored at 9 p.m. It was not immediately clear what caused the glitch.

Many large shopping malls in the capital, Dhaka, closed early on Tuesday evening. Elsewhere, people gathered at fuel stations to collect diesel to run standby generators and market vendors operated amid candlelight.

Nasul Hamid, junior minister for power, energy and mineral resources, said in a statement that he regretted the “temporary inconvenience” caused by the power failure.

Officials at the state-run Bangladesh Power Development Board earlier said power transmission had failed in the eastern part of the country.

All power plants tripped and electricity was cut in Dhaka and other big cities, said Shameem Hasan, a power department spokesman.

Bangladesh's recent impressive economic growth has been threatened by power shortages since the government suspended operations of all diesel-run power plants to reduce costs for imports as prices have soared. The diesel-run power plants produced about 6% of Bangladesh's power generation, so their shutdowns cut output by up to 1500 megawatts.

Earlier this month, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, said that the situation is so serious that garment factories are without power now for around four to 10 hours a day. Bangladesh is the world’s second-largest garment exporter after China, and it earns more than 80% of its total foreign currency from exports of garment products each year.

Last month, the Asian Development Bank said in a report that Bangladesh’s economic growth would slow to 6.6% from its previous forecast of 7.1% in the current fiscal year.


Weaker consumer spending due to sluggish export demand, domestic manufacturing constraints and other factors are behind the slowdown, it said.

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

13 Stocks Institutional Investors Won't Stop Buying Cover

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Featured Articles and Offers

Search Headlines: