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The Financial Express

Search results for: economy

All borrowers can now enjoy loan moratorium, central bank clarifies

All borrowers can now enjoy loan moratorium, central bank clarifies

FE REPORT 2020-12-31 09:24:42

Borrowers who rescheduled their defaulted loans under the Bangladesh Bank's (BB) relaxed policy in 2019 are now allowed to enjoy loan moratorium facilities like other clients, officials said. Besides...

Vaccine rekindles hopes of Bangladesh economic recovery

Vaccine rekindles hopes of Bangladesh economic recovery

JASIM UDDIN HAROON 2020-12-31 08:10:16

Like most countries in the world, Bangladesh bids farewell to 2020 today (Thursday), a pandemic-devastated year that upended people's normal lifestyle while bringing the country's economic wheel to...

Forex reserve crosses $43b-mark

Forex reserve crosses $43b-mark

FE ONLINE REPORT 2020-12-30 18:59:54

Bangladesh’s foreign exchange (forex) reserve crossed US$43 billion-mark for the first time in the history of the country on Wednesday following lower import payment obligations and higher growt...

Bangladesh’s economy to perform better next year, finance minister says

Bangladesh’s economy to perform better next year, finance minister says

-- 2020-12-30 18:40:21

Finance Minister AHM Mustafa Kamal on Wednesday said Bangladesh’s economy will perform better in the next year as all indicators of the country’s economy are in good position despite COVID...

India bets on asset sales to partly fund higher spending next year

India bets on asset sales to partly fund higher spending next year

Reuters 2020-12-30 17:37:42

India is likely to spend more next fiscal year than this year’s budgeted $415 billion and prioritise infrastructure projects, relying on asset sales of around $40 billion for some of the funding...

Foreign trade scenario dismal though deficit narrows down by $2.1b in July-Nov

Foreign trade scenario dismal though deficit narrows down by $2.1b in July-Nov

SIDDIQUE ISLAM 2020-12-30 08:39:58

The country's trade deficit narrowed down by 30.77 per cent or US$ 2.10 billion in the first five months of this fiscal year (FY) amid dismal foreign trade situation due to the Covid-19 pandemic, of...

Corona-induced funding cushions public finance, contingency expenditure still cut by 50pc

Corona-induced funding cushions public finance, contingency expenditure still cut by 50pc

FE REPORT 2020-12-30 08:36:27

The public finance went through a difficult phase between the months of April and September this year because of the Covid-19 consequences. Government's revenue earnings suffered, but its expenditu...

Climate disasters bring catastrophic results for rich, poor nations in 2020

Climate disasters bring catastrophic results for rich, poor nations in 2020

-- 2020-12-29 20:39:21

Disasters fuelled by weather and climate extremes brought “catastrophic results for millions” across rich and poor nations in 2020, causing thousands of deaths and tens of billions of doll...

Bangladesh may see decline in remittance inflow in 2021: RMMRU 

Bangladesh may see decline in remittance inflow in 2021: RMMRU 

FE Online Report 2020-12-29 18:46:21

The country’s remittance earnings may fall next year as the outflow of workers abroad declined drastically in the current year, projected a RMMRU report. Only 183,682 workers went abroad with j...

NEC approves 8th FYP with a target of 8.51pc growth by FY'25

NEC approves 8th FYP with a target of 8.51pc growth by FY'25

FE ONLINE REPORT 2020-12-29 18:24:32

The government has endorsed the 8th five-year plan (FYP) with a target to boost the country’s economic growth to 8.51 per cent by its terminal fiscal year 2024-25 recovering from the Covid-19 im...

Vietnam posts highest trade surplus in five years

Vietnam posts highest trade surplus in five years

-- 2020-12-28 15:22:05

Vietnam recorded export turnovers of approximately 281.5 billion US dollars in 2020, up 6.5 per cent year-on-year, and import turnovers of over $262.4 billion, up 3.6 per cent, with a trade surplus of...

Bangladesh economy to become 28th largest in 2030

Bangladesh economy to become 28th largest in 2030

JASIM UDDIN HAROON 2020-12-28 09:34:02

Bangladesh’s economy will be 28th largest in 2030 and 25th largest in 2035 , the UK's Centre for Economics and Business Research (CEBR) has made the projection in a recent report. Austria now e...

Vietnam's growth slips to 30-year low

Vietnam's growth slips to 30-year low

Reuters 2020-12-27 22:48:07

Vietnam’s economic growth slowed this year to its weakest in at least three decades, buffeted by the COVID-19 pandemic, natural disasters and a sluggish global economy, government data showed on...

State-owned Krishi Bank seeks Tk 9.5b bailout

State-owned Krishi Bank seeks Tk 9.5b bailout

REZAUL KARIM 2020-12-27 09:40:35

Troubled by huge capital shortfall, the Bangladesh Krishi Bank (BKB) has recently sought Tk.9.5 billion from the government to raise its paid-up capital citing an altogether different reason. The cap...

China to overtake US economy by 2028: Think tank

China to overtake US economy by 2028: Think tank

-- 2020-12-26 12:41:34

The Chinese economy is set to overtake the US in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the Covid-19 pandemic, a think tank said...

Millions of Americans lose unemployment benefits as Trump refuses to sign Covid relief bill

Millions of Americans lose unemployment benefits as Trump refuses to sign Covid relief bill

-- 2020-12-26 12:13:09

Millions of Americans saw their jobless benefits expire on Saturday after US President Donald Trump refused to sign into law a $2.3 trillion pandemic aid and spending package, protesting that it did n...

Americans’ charity surges with 20m relying on unemployment benefits

Americans’ charity surges with 20m relying on unemployment benefits

-- 2020-12-25 11:00:16

Hundreds of cars line up before dawn on weekly distribution days for the Forgotten Harvest’s partner food pantries in the metro Detroit area, where visits are up by 50 per cent this year. The n...

BRICKS bank to help Bangladesh amass fund for development goals

BRICKS bank to help Bangladesh amass fund for development goals

-- 2020-12-24 18:50:13

Bangladesh had shown interest in joining the New Development Bank, BRICS Bank, when it was coming into being in 2014 only for it to lean towards the China-sponsored Asian Infrastructure Investment Ban...

Eighth FYP should focus on rationale demand projection, better distribution in power sector

Eighth FYP should focus on rationale demand projection, better distribution in power sector

FE Online Report 2020-12-24 18:16:15

The power sector of Bangladesh is increasingly facing challenges with regard to inefficiency, cost escalation, lack of cleaner energy-mix, poor quality of transmission and distribution and rising fina...

Singapore's manufacturing output increases 17.9pc on year in November

Singapore's manufacturing output increases 17.9pc on year in November

-- 2020-12-24 15:49:59

Singapore Economic Development Board (EDB) on Thursday announced that the country's manufacturing output increased 17.9 per cent year on year in November, compared to a revised 0.8 per cent decline in...

BB making transition from LIBOR to alternative reference rate

BB making transition from LIBOR to alternative reference rate

FE REPORT 2020-12-24 09:06:10

The central bank on Tuesday issued a draft policy seeking opinions from the stakeholders concerned to set up alternative reference rate after phasing out of the London Inter-Bank Offered Rate (LIBOR...

Euro, Aussie gain, ignoring Trump's threat to block stimulus

Euro, Aussie gain, ignoring Trump's threat to block stimulus

-- 2020-12-23 22:15:48

The euro rose to $1.22 and the dollar fell on Wednesday as foreign exchange traders looked beyond US President Donald Trump’s threat to block a $892 billion COVID-19 aid package, reports Reuters...

PM orders fresh stimulus plan to tackle second Covid wave

PM orders fresh stimulus plan to tackle second Covid wave

-- 2020-12-23 22:07:16

Prime Minister Sheikh Hasina on Wednesday asked the finance ministry and other related ministries and divisions to formulate another financial stimulus package plan keeping the second wave of COVID-19...

Indian minister assures Bangladesh of cooperation in ensuring barrier-free trade

Indian minister assures Bangladesh of cooperation in ensuring barrier-free trade

-- 2020-12-23 15:39:06

India has assured Bangladesh of cooperation in ensuring barrier-free trade. Accordingly, the assurance was conveyed by Minister of Railways, Commerce & Industry, Consumer Affairs and Food & P...

Malaysia launches 10-year plan to restart tourism sector after $25b loss in pandemic

Malaysia launches 10-year plan to restart tourism sector after $25b loss in pandemic

-- 2020-12-23 12:23:41

Malaysia on Wednesday launched a 10-year plan to restart its battered tourism sector, which is estimated to have lost more than 100 billion ringgit ($24.61 billion) this year due to the coronavirus pa...

Trump threatens to veto Covid-19 relief bill

Trump threatens to veto Covid-19 relief bill

-- 2020-12-23 11:44:30

US President Donald Trump has lashed out at lawmakers over the newly approved 900-billion-US-dollar Covid-19 relief package, threatening not to sign the bill if changes are not made to increase the am...

Bangabandhu Hi-Tech Park beckons entrepreneurship

Bangabandhu Hi-Tech Park beckons entrepreneurship

SAIF UDDIN, BACK FROM RAJSHAHI 2020-12-23 10:20:52

The construction of key facilities at Bangabandhu Sheikh Mujib Hi-Tech Park in the northern education city of Rajshahi is set to finish by next year. The Tk 2.88-billion hi-tech park (HTP) will creat...

2nd wave Covid-19 fallout may slow down Bangladesh recovery, warns BB

2nd wave Covid-19 fallout may slow down Bangladesh recovery, warns BB

Siddique Islam 2020-12-23 08:50:53

The slower global economic recovery amid the second wave of Covid-19 may hinder Bangladesh's effort to overcome the fallouts from the pandemic's first hit, according to a latest Bangladesh Bank (BB)...

Remittance outlook bleak for emerging economies like Bangladesh

Remittance outlook bleak for emerging economies like Bangladesh

REUTERS 2020-12-22 15:00:05

Larger-than-expected money transfers from migrants overseas have provided a tonic for several sickly economies during the coronavirus crisis, but the outlook for such flows remains fraught with uncert...

Business continuity plan to be piloted at two economic zones

Business continuity plan to be piloted at two economic zones

FE Report 2020-12-22 10:19:34

The Planning Commission and Bangladesh Economic Zones Authority will conduct a piloting of business continuity plan (BCP) among the industries located in two economic zones aiming to strengthen resi...