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The Financial Express

Search results for: economy

China's battle against fresh COVID outbreak clouds economic recovery

China's battle against fresh COVID outbreak clouds economic recovery

Reuters 2021-01-15 17:09:17

New cases in China are at 10-month highs, prompting the lockdown of 28 million people in two provinces, disrupting logistics and industrial activity, with millions expected to scrap holiday travel pla...

Turkey’s costly food starves the economic rebound

Turkey’s costly food starves the economic rebound

REUTERS 2021-01-15 15:49:34

Food has become so expensive in Turkey that some people are spending what money they have to stock up on rice and pasta to avoid swallowing even higher prices in the months ahead. Parents have switch...

Biden’s Covid-19 package offers bridge for hard-hit economy

Biden’s Covid-19 package offers bridge for hard-hit economy

REUTERS 2021-01-15 15:00:11

US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-te...

Only 24pc of development budget spent in first half

Only 24pc of development budget spent in first half

FHM HUMAYAN KABIR 2021-01-15 11:07:44

The government agencies executed only 24 per cent of the annual development programme in the first half of the current fiscal in a sign of sluggish project work, officials said on Wednesday. They s...

Bangladesh Bank further eases import payment

Bangladesh Bank further eases import payment

FE REPORT 2021-01-15 08:59:55

The central bank has extended the upfront import payment regime, allowing offshore banks and external financiers to pay under the buyer's credit. Currently, domestic banks are allowed to make such an...

Japan's households, firms keep piling up cash at record pace

Japan's households, firms keep piling up cash at record pace

-- 2021-01-14 11:41:11

Japan’s currency in circulation and bank deposits rose at a record pace in December, data showed on Wednesday, as a resurgence in coronavirus infections prompted companies and households to cont...

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

-- 2021-01-14 11:11:38

World Bank President David Malpass urged private sector creditors to finally step up and help poor countries deal with the economic and health crises unleashed by the Covid-19 pandemic and stop collec...

Stimulus-induced liquidity may create inflationary pressure

Stimulus-induced liquidity may create inflationary pressure

FE Online Report 2021-01-14 10:46:47

The policy relaxations by Bangladesh Bank and low-cost refinancing lines of credit along with the government's big stimulus packages to support economic activities had already injected a big liquidi...

Bank depositors in distress as real rate of returns recedes

Bank depositors in distress as real rate of returns recedes

FE REPORT 2021-01-14 08:57:23

The real rate of return on deposits in the money market had turned negative between the months of April and December last year. The average rate of interest on bank deposits went below or remained cl...

Economy may attain 7.40pc growth if second wave doesn’t cause downturn: BB policy review

Economy may attain 7.40pc growth if second wave doesn’t cause downturn: BB policy review

FE Online Report 2021-01-13 20:31:18

Bangladesh economy may reach the annual growth target of 7.40 per cent in the current fiscal year (FY21) as long as the second wave of Covid-19 does not restrain the economic activities and the develo...

BB unveils monetary policy review after six years

BB unveils monetary policy review after six years

FE Online Report 2021-01-13 19:58:48

Bangladesh Bank has released monetary policy review after six years, reviewing the central bank’s monetary policy stance for the current fiscal year (FY21). The latest monetary policy review is...

Bangladesh seeks five years to prepare for graduation to developing nation

Bangladesh seeks five years to prepare for graduation to developing nation

-- 2021-01-13 18:24:19

Bangladesh has sought the facilities reserved for the least developed countries for five years for preparations after graduating to the developing nation bracket. It floated the proposal at a virtual...

Bangladesh makes strong case for leaving the poor's club

Bangladesh makes strong case for leaving the poor's club

FE REPORT 2021-01-13 10:24:00

The government on Tuesday presented the macroeconomic and socioeconomic progresses achieved by Bangladesh in recent times and the latest position of the country regarding graduation from the least d...

China top investor in Bangladesh's economic zones

China top investor in Bangladesh's economic zones

DOULOT AKTER MALA 2021-01-13 08:57:59

China is top foreign investor in the country's economic zones (EZ) as the number of its formal proposals outstrips 13 other nations. Between fiscal year 2018 and December of 2020, China grabbed more...

Dhaka to seek revision of terms of Indian LoCs

Dhaka to seek revision of terms of Indian LoCs

FHM HUMAYAN KABIR 2021-01-12 08:30:24

Bangladesh would seek revision of the deals involving the Indian line of credit (LoC)-II and III as some of the provisions prove to be barriers to the smooth implementation of relevant projects, off...

UN launches fund for women enterprises to support innovative solutions

UN launches fund for women enterprises to support innovative solutions

FE Online Desk 2021-01-11 12:54:13

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF) have recently launched a fund for women enterprises to suppor...

Economists' policymaking role shrinks

Economists' policymaking role shrinks

FE REPORT 2021-01-11 08:51:14

Country's leading economists have expressed concern over the gradually lessening involvement of the economists in the policymaking process and feared that it would affect achieving sustainable develop...

Bangladesh mission in Italy honours top remittance senders

Bangladesh mission in Italy honours top remittance senders

-- 2021-01-10 18:58:27

The Embassy of Bangladesh in Rome, Italy honoured five expatriate Bangladeshis and a business organisation with “Remittance Award". The five individual awardees of 2020 are Kartik Chandra Ghosh...

New Zealand central bank's data system breached

New Zealand central bank's data system breached

REUTERS 2021-01-10 10:45:33

The Reserve Bank of New Zealand said on Sunday that it was responding with urgency to a breach of one of its data systems. A third-party file-sharing service used by the central bank to share and sto...

Japan's aid to Bangladesh surpasses WB, ADB lending

Japan's aid to Bangladesh surpasses WB, ADB lending

FHM HUMAYAN KABIR 2021-01-10 09:48:48

Japan has emerged as Bangladesh's largest lender in terms of aid disbursement this fiscal year, overtaking the World Bank and the Asian Development Bank. The country's biggest bilateral donor disburs...

Bidding for importing LNG from spot market to continue

Bidding for importing LNG from spot market to continue

FE REPORT 2021-01-10 09:38:16

The government will continue to float tenders to import liquefied natural gas (LNG) from spot market despite non-submission of 'suitable' offers from bidders over the past several months. "We'll cont...

Borrowing from banking system set to be negative, thanks to slow ADP spending

Borrowing from banking system set to be negative, thanks to slow ADP spending

SIDDIQUE ISLAM 2021-01-09 10:22:40

The government's net borrowing from the country's banking system is expected to be negative in January, as a move is underway to repay Tk 40 million from the surplus, officials say. The ministry of...

Dhaka drops plan to negotiate FTA with US

Dhaka drops plan to negotiate FTA with US

SYFUL ISLAM 2021-01-09 08:40:07

The government has backtracked from a plan to propose the United States for signing a free trade area (FTA) deal considering its lack of preparedness, an official says. Failing to get the generalised...

Layoffs hit record in 2020 US

Layoffs hit record in 2020 US

REUTERS 2021-01-08 14:35:49

The number of Americans filing first-time claims for jobless benefits unexpectedly dipped last week while staying extremely high, with the labour market recovery appearing to stall as a raging Covid-1...

Bangladesh's tax revenue increases in first half despite Covid-19 fallout

Bangladesh's tax revenue increases in first half despite Covid-19 fallout

Doulot Akter Mala 2021-01-08 08:30:14

The country's tax revenue collection grew by 2.10 per cent in the first half (H1) of the current fiscal year (FY), 2020-21, although the Covid-19 pandemic hit economic activities hard. The National B...

Expats can convert Taka for transfering 75pc of income: BB rules

Expats can convert Taka for transfering 75pc of income: BB rules

FE REPORT 2021-01-08 08:24:50

The central bank has relaxed regulations, allowing banks to transfer up to 75 per cent of net monthly income of the expatriate employees, by converting Taka into equivalent foreign exchange, to their...

BB eases outward remittance rules for foreigners

BB eases outward remittance rules for foreigners

-- 2021-01-07 22:24:57

Bangladesh Bank (BB) further relaxed outward remittance rules for foreigners working in the country's economic zones (EZs), export processing zones (EPZs) and hi-tech parks (HTPs), reports UNB. As pe...

Downtrend in RMG export may continue until April, BGMEA president says

Downtrend in RMG export may continue until April, BGMEA president says

UNB 2021-01-07 19:15:46

President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq has said the current downtrend in RMG export is likely to continue until April of this year. "I seek all...

India's fiscal deficit likely to be over 7.0pc in FY21

India's fiscal deficit likely to be over 7.0pc in FY21

-- 2021-01-07 18:36:22

India’s fiscal deficit for year ending in March is likely to be over 7.0 per cent of gross domestic product, reports Reuters accrediting three sources, as revenue collections suffered from a loc...

Bangladesh sets target to produce 4,500 tonnes of jute seed in five years

Bangladesh sets target to produce 4,500 tonnes of jute seed in five years

FE Online Report 2021-01-07 17:39:35

The government has set a target to produce 4,500 tonnes of jute seed in the next five years, aiming to make the country self-sufficient in such seeds, Agri Minister Dr Mohammad Abdur Razzaque said Thu...