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Search results for: economy

NBR cuts taxes on MS products, cement sheet

FE REPORT October 18, 2019 10:24:47

The National Board of Revenue (NBR) has reduced taxes on mild steel (MS) products, cement sheet, bidi and some other raw materials for the steel sector. Officials said the revenue board has slashed...

Ctg-Chennai-Europe shipping route opens in Nov

JASIM UDDIN HAROON October 18, 2019 10:21:07

A new strategic Chattogram-Chennai-Europe shipping route is likely to commence next month which is expected to reduce lead time. Currently, Chattogram-Colombo, Chattogram-Singapore and Chattogram-Por...

China's FDI inflow rises 6.5pc in Jan-Sep

Xinhua October 17, 2019 17:22:15

Foreign direct investment (FDI) into the Chinese mainland expanded 6.5 per cent year on year to 683.21 billion yuan in the first three quarters of the year, an official with the Ministry of Commerce (...

Concentration of income increased by 69.36pc in three decades

FE Online Report October 17, 2019 16:47:29

Share of income has concentrated and centralised among the richest groups and the distribution of income is becoming progressively unequal in the country, according to a study. The study, conducted r...

PBOC skips reverse repos

-- October 17, 2019 13:56:46

The People's Bank of China (PBOC), the central bank of the country, skipped open market operations via reverse repos on Thursday. The PBOC announced the move in a statement on its website, citing rea...

WB likely to cut global growth forecasts again

-- October 17, 2019 12:56:42

World Bank President David Malpass said the development lender will likely again downgrade its global growth outlook amid uncertainty over falling trade and investment flows. “As we look at the...

Eighth FYP set to deal with multiple challenges

FE Report October 17, 2019 12:24:48

The next eighth five-year plan (FYP) is set to deal with multiple challenges to be faced by Bangladesh after its graduation to a middle-income status in 2024. A review meeting on the apex national pl...

ADP execution drops in Q1

FE Report October 16, 2019 10:44:08

The Annual Development Programme (ADP) implementation rate fallen to 8.06 per cent in the first quarter (Q1) of the current fiscal year (FY) 2019-20. During the same period (July-September) of FY 201...

IMF projects 7.8pc growth

FE Report October 16, 2019 10:06:40

The International Monetary Fund (IMF) has forecasted a 7.8 per cent economic growth for Bangladesh in 2019. The October 2019 version of the World Economic Outlook (WEO), released on Tuesday morning i...

FDI jumps 50.71pc to $3.89b in FY'19

FE REPORT October 16, 2019 09:59:47

The net inflow of foreign direct investment (FDI) in Bangladesh increased by 50.71 per cent in the last fiscal year (FY'19), according to the latest statistics released by the central bank on Tuesday....

Bangladesh can attract Muslim tourists, state minister says

-- October 15, 2019 21:03:05

State Minister for Civil Aviation and Tourism M Mahbub Ali has said Muslim-friendly environment across the Bangladesh can be a great source to meet the growing demand of Muslim travellers. “Mus...

Inflation reaches 5.54pc in September

-- October 15, 2019 20:14:42

The general point-to-point inflation rate reached 5.54 per cent in September last from 5.49 per cent in the previous month. The information was revealed on Tuesday at the ECNEC meeting based-on the m...

ECNEC clears two new MRT projects involving Tk 940b

-- October 15, 2019 16:01:24

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved two mega MRT projects -- Dhaka Mass Rapid Transit Development Project (Line-1) and Dhaka Mass Rapid Transit Develop...

China further opens up banking sector to foreign investors

Xinhua October 15, 2019 14:54:17

China has decided to further open up its insurance and banking sectors to foreign investors by revising related regulations. Revisions to the regulations on foreign-invested insurance and banking fir...

Made in Bangladesh event in Qatar on Dec 10-12

FE Online Report October 14, 2019 20:40:48

A three-day exhibition of Bangladeshi products is going to kick off in Qatar on December 10 with the aim to strengthen local trade and investment with the host country. The ‘Bangladesh Forum Qa...

Banerjee, Duflo, Kremer win Nobel Prize in economics

-- October 14, 2019 16:41:29

Abhijit Banerjee, Esther Duflo and Michael Kremer were awarded the Nobel Prize in economics of this year on Monday for research on alleviating global poverty. Indian-born Abhijit Banerjee is an Ameri...

Singapore's GDP growth for Q3 remains at 0.1pc on year

-- October 14, 2019 14:05:11

Singapore’s Ministry of Trade and Industry has announced that based on advance estimates, the country's Gross Domestic Product (GDP) for the third quarter of 2019 grew 0.1 per cent year on year....

China sees steady growth in trade with B&R countries

Xinhua October 14, 2019 13:50:35

China's trade with countries along the Belt and Road (B&R) posted robust growth in the first three quarters of this year, official data showed Monday. Trade with B&R countries totalled 6.65 t...

Javid plans to deliver first post-Brexit budget on Nov 6

Reuters October 14, 2019 13:06:57

British finance minister Sajid Javid said on Monday he planned to deliver the first post-Brexit budget statement on November 6, less than a week after the country’s deadline for leaving the Eu...

Vietnam to post economic growth of 6.6pc in 2019: WB

Xinhua October 13, 2019 17:24:46

Vietnam's gross domestic product (GDP) expansion is projected to decelerate from 7.1 per cent in 2018 to 6.6 per cent in 2019, due to slower export growth and weaker agricultural production growth, ac...

Banking sector needs urgent reformation: Speakers

-- October 12, 2019 18:07:32

Speakers at a roundtable have urged the government to take swift measures to reform the banking sector and set up a dedicated commission to this end. Noted economist Prof Dr Mainul Islam presented th...

Canada's Conservatives pledge to balance budget

-- October 12, 2019 16:00:46

Canada’s opposition Conservatives on Friday promised to balance the budget in five years without slashing government jobs if they win an election this month, but the ruling Liberals insisted the...

Govt opts for costlier WB loans

FHM HUMAYAN KABIR October 12, 2019 09:59:32

The government is going to take out US$1.87 billion in costlier loans from the World Bank (WB) to implement six projects, officials said. The decision on securing the hard-term loans from the bank's...

BD to become self-sufficient in egg production in FY20

FE Online Report October 11, 2019 18:08:46

The country is going to be self-sufficient in egg production this financial year (FY20) with an expected output of 17.81 billion eggs, according to the government.The egg sector’s turnover is li...

Current account returns to green zone

SIDDIQUE ISLAM October 11, 2019 10:07:34

The country's trade gap with the rest of the world narrowed during the first two months of the current fiscal year, aided by a surplus in current account balance. Negative growth in both export and i...

WB warns of curtailing BB autonomy

FE REPORT October 11, 2019 09:52:31

After projecting lower growth rate, the World Bank (WB) has said curbing the central bank's autonomy poses risk to the economy. "Reform reversals such as easing of loan classification standards, ceil...

Outlook for Chinese banks stable: Moody's

Xinhua October 10, 2019 16:55:07

Global credit rating agency Moody's has maintained its stable outlook for the Chinese banking system, citing stable liquidity and adequate capitalisation. Accommodative government policies will suppo...

WB predicts 7.2pc GDP growth for FY 2019-20

FE Online Desk October 10, 2019 13:19:14

The World Bank has forecast a growth of the country's gross domestic product (GDP) at 7.2 per cent for 2019-20 fiscal year. The financial institution made the projection in statement on its website s...

Sour loans could derail growth momentum: BB

Siddique Islam October 10, 2019 10:07:05

Managing higher troubled loans and tight liquidity condition on the domestic front alongside external challenges are likely to pose downside risk to the growth momentum, the central bank has said. Th...

IMF's new head warns of 'painful Brexit'

BBC October 09, 2019 18:23:48

The new head of the International Monetary Fund has warned that Brexit in whatever form will be "painful", adding to the effects of a global slowdown. Kristalina Georgieva said the split will hurt no...