Search results for: economy

Banks required to keep additional 1.0pc general provisioning, BB clarifies

SIDDIQUE ISLAM 2021-01-06 08:41:20

All the scheduled banks will have to keep additional 1.0 per cent general provisioning against loans, which have enjoyed deferral/ time extension facilities, instead of all unclassified loans earlie...

NBR to review duty on rice, onion for addressing price volatility

DOULOT AKTER MALA 2021-01-06 08:20:26

The National Board of Revenue (NBR) is in the process of reviewing the import duties and taxes on rice and onion to rationalise their prices in the domestic market, according to the officials. It i...

Export earnings dip again amid Covid second wave

-- 2021-01-05 21:36:20

Bangladesh’s export earnings have plummeted once again due to the coronavirus pandemic as a second and larger wave of infections has continued to shatter its major markets in the West. The coun...

Nutritious foods for RMG workers needed to achieve SDGs, say speakers

FE Online Report 2021-01-05 19:28:54

Malnutrition can reduce the working capacity of the ready-made garment (RMG) workers and productivity by 20 per cent. Hence, it is very important to implement the Plan of Action (2021, 2041), taken up...

Bangladesh lucrative investment destination in between India, China, says FM

-- 2021-01-05 18:49:14

Foreign Minister Dr AK Abdul Momen on Tuesday said Bangladesh, with its 165 million hard-working people in between two large economies like China and India, is a lucrative destination for investment....

Inflation slightly declines in December

-- 2021-01-05 18:11:20

The general point-to-point inflation rate came down by 0.23 percentage point to 5.29 per cent in December last year. Planning Minister MA Mannan gave the information while briefing reporters after we...

Tax from black money surges to Tk 102b as over 7,600 cleanse income

FE REPORT 2021-01-05 13:00:23

Some Tk 102.20 billion undisclosed income came into the formal channel in the first half (H1) of the current fiscal year, helped by the government's blanket opportunity. In a statement on Monday, the...

Outward FDI from Bangladesh drops in FY20

FE ONLINE REPORT 2021-01-05 09:46:31

Net outflow of foreign direct investment (FDI) from Bangladesh declined further in the past fiscal year, according to a new estimate of the country’s central bank. The estimate, released by Ban...

Aid flow to Bangladesh rises 34pc in July-Nov

FHM HUMAYAN KABIR 2021-01-05 09:34:52

Foreign aid disbursement by development partners jumped by 34 per cent in July-November, thanks to the release of a budgetary support by Japan, officials said on Monday. Economic Relations Division...

Bangladesh can afford higher borrowing to support Covid-affected economy, says BB policy note

FE Online Report 2021-01-04 15:43:40

Bangladesh has the ability to enhance the credit-based spending to support Covid-affected sectors as the country is ‘at low risk in terms of vulnerable debt sustainability.’ A policy note...

Asian factories emerging from initial damage of Covid, tougher controls cloud outlook

-- 2021-01-04 11:06:40

Asian factory activity expanded moderately in December thanks to robust demand in regional giant China, business surveys showed on Monday, the latest sign that manufacturers are emerging from the init...

7,000 legalise undeclared income, govt earns record Tk 8.8b in taxes

DOULOT AKTER MALA 2021-01-04 08:46:05

The government has received a record Tk 8.80 billion in tax from the holders of undisclosed money in the first half of the current fiscal year. Between July and December, some 6,937 people disclosed...

Remittance inflow tops $21b in 2020

FE ONLINE REPORT 2021-01-03 21:28:43

The inflow of remittances crossed the $21billion-mark for the first time in the just-concluded calendar year, registering an increase of nearly 19 per cent, despite the ongoing Covid-19 pandemic, offi...

Remittance inflow witnesses 37pc growth in six months

-- 2021-01-03 20:02:32

Inward remittances witnessed a massive growth of 37.6 per cent in the first six months of the current fiscal 2020-21 compared to the corresponding period of the previous fiscal. According to the fina...

BB extends deadline for execution of stimulus package for CMSMEs

FE ONLINE REPORT 2021-01-03 16:46:49

The central bank has extended the deadline for execution of the stimulus package for the cottage, micro, small and medium enterprises (CMSMEs) by more three months. Under the revised deadline, schedu...

Honest taxpayers pay up to 33pc tax, black money whiteners only 10pc: Experts

FE REPORT 2021-01-03 08:36:24

Concerted government efforts backed by political will are required to prevent money laundering and bringing discipline in the financial sector, Professor Mustafizur Rahman, distinguished fellow of the...

Tea producers seek 20pc subsidy to boost exports

FE REPORT 2021-01-03 08:26:45

The apex body of tea producers has requested the government to provide a 20 per cent subsidy, in addition to the existing export incentive facility to the tea sector, with a view to boosting the expor...

Oil-fed power plants idling due to lower demand

M AZIZUR RAHMAN 2021-01-03 08:17:09

The government has kept almost all oil-fired power plants shut and import of expensive LNG to a minimum to reduce energy procurement costs owing to lower winter demand and sluggish economic activiti...

US economic recovery widens inequality

-- 2021-01-02 14:38:23

After plunging into the worst recession in decades amid coronavirus (COVID-19) shutdowns in 2020, the US economy has been recovering in recent months. With alarming case spikes and a long-delayed fis...

Dhaka focussing on bilateral FTAs to face LDC graduation challenge

FE REPORT 2021-01-02 10:37:55

Commerce Secretary Dr. Md. Jafar Uddin, on Thursday, said Bangladesh will lose a number of duty-free quota-free (DFQF) facilities after its graduation from the existing least developed country (LDC) s...

2.6m new jobs a year difficult in post-pandemic Bangladesh: Economists

FHM Humayan Kabir 2021-01-02 09:16:09

Creating as many as 11.33 million jobs during the 8th five-year plan (FYP) period would be challenging for the government as the fallout of Covid-19, economists said on Friday. Following the unempl...

African free trade bloc opens for business, but challenges remain

Reuters 2021-01-01 18:50:14

African countries began officially trading under a new continent-wide free trade area on Friday, after months of delays caused by the global coronavirus pandemic. But experts view the New Year's Day...

Sales of savings schemes more than triple

FE REPORT 2021-01-01 09:42:30

The net sale of state-run savings instruments more than tripled in the July-November period of this fiscal year (FY), 2020-21, than that of the corresponding period of previous fiscal. The Departme...

Extension of support package will bring RMG to next level, says BGMEA chief

MONIRA MUNNI 2021-01-01 09:35:15

After an 'unprecedented' year in 2020 riddled with scars of the pandemic, the country's readymade garment (RMG) sector is ushering in the new year 2021 amid some challenges and hopes also, an industry...

Survive, revive and then thrive, new DCCI President says on priorities

SYFUL ISLAM 2021-01-01 09:27:01

Bangladesh's economy will eke out "satisfactory" growth next year provided private investments and international trade remain buoyant, a leading voice on private business has said. "While uncertainti...

Bangladesh recovery to take three years, forecasts MCCI chief

JUBAIR HASAN 2021-01-01 09:17:00

Bangladesh would need at least three years to not just get back to the full speed of the economic activities but to overcome the losses caused by the Covid-19 pandemic, the chief of the country's olde...

Planning Commission discourages execution of unimportant projects this fiscal year

FHM HUMAYAN KABIR 2021-01-01 09:08:25

The government pursued a cautious stance in 2020 while approving development projects and releasing funds amid fears of higher budget deficit due to the adverse impact of Covid-19 pandemic, according...

Private commercial banks mostly see profit fall

SIDDIQUE ISLAM 2021-01-01 08:55:53

The operating profit of majority of the private commercial banks (PCBs) shrunk in the just-concluded calendar year mainly due to the impact of Covid-19 and implementation of the single-digit interes...

Experts emphasise accurate data for post-pandemic recovery

-- 2020-12-31 22:25:25

The recovery of the country's economy following the coronavirus crisis is long and slow due to data scarcity, experts said. Relief distribution is also affected due to the lack of a proper database,...

IFAD to provide $18m to rebuild microenterprises, support smallholders in Bangladesh

UNB 2020-12-31 18:21:04

The International Fund for Agricultural Development (IFAD) will provide Bangladesh with an additional loan of US$18.07 million to rebuild microenterprises and support smallholders who have been affect...