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The Financial Express

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Vietnam crosses Bangladesh, turns second largest RMG exporter globally

Vietnam crosses Bangladesh, turns second largest RMG exporter globally

FE ONLINE REPORT 2021-07-31 13:32:39

By maintaining a persistent growth in most of the years in last decade, Vietnam crossed Bangladesh to become the second largest clothing exporter globally in 2020. World Trade Statistical Review 2021...

Execution of foreign-funded projects being hampered

Execution of foreign-funded projects being hampered

FHM HUMAYAN KABIR 2021-07-31 09:48:02

The execution of development projects, especially those funded by donors and mega ones, is hit hard by the Covid-19 pandemic. The disruption caused to the supply of essential materials and technical...

Lockdown dealing a severe blow to low-income people

Lockdown dealing a severe blow to low-income people

JUBAIR HASAN 2021-07-31 08:42:41

The ongoing strict lockdown imposed to stem the spread of coronavirus is dealing a severe blow to the low-income people, especially those in the informal sector. In fact, the restrictions on movement...

All export-oriented industries in Bangladesh will resume operations on Aug 01

All export-oriented industries in Bangladesh will resume operations on Aug 01

-- 2021-07-30 18:45:10

The Bangladesh government has allowed export-oriented factories to resume production on Aug 1 amid the ongoing coronavirus lockdown.   The Cabinet Division announced the decision on Friday...

World Bank lauds Bangladesh's growth, despite downturn

World Bank lauds Bangladesh's growth, despite downturn

-- 2021-07-30 09:52:15

The World Bank has acknowledged Bangladesh’s remarkable economic development and growth, and reassured the global lender's continued support for this country's prosperity. Private Industry and...

Finance minister Kamal unaware of fund diversion to bourses

Finance minister Kamal unaware of fund diversion to bourses

FE REPORT 2021-07-30 08:31:05

Finance minister AHM Mustafa Kamal on Thursday said he did not know whether the money of the pandemic-linked stimulus packages was channelled to the stock market, creating bubble in bourses. Mr Kamal...

Monetary policy targets hardly attainable: Experts

Monetary policy targets hardly attainable: Experts

JASIM UDDIN HAROON 2021-07-30 08:23:37

The monetary policy targets, set for the current fiscal year (FY), 2021-22, are hardly achievable during the time of Covid-19 pandemic, according to economists and businesses. The Bangladesh Bank (...

Bangladesh goes ahead with expansionary monetary policy

Bangladesh goes ahead with expansionary monetary policy

SIDDIQUE ISLAM 2021-07-30 08:19:09

The central bank has announced to continue with its ongoing expansionary monetary policy amid a cautious stance for the current fiscal year (FY) to help boost recovery of the pandemic-hit economy. Th...

IFAD projects helped 123m rural people across the globe in 2020

IFAD projects helped 123m rural people across the globe in 2020

FE ONLINE REPORT 2021-07-29 19:54:08

The UN's International Fund for Agricultural Development (IFAD) projects were able to reach 123 million rural people across the globe in 2020 including Bangladesh, says a report published on Thursday....

Central bank raises farm credit target to Tk 283.91b

Central bank raises farm credit target to Tk 283.91b

-- 2021-07-29 15:45:18

Bangladesh Bank has fixed its agriculture credit target at Tk 283.91 billion for the 2021-22 fiscal year to combat the adverse effects of the pandemic. The target is 7.98 per cent higher than the Tk...

Bangladesh, Vietnam benefit most from RMG, footwear shift from China

Bangladesh, Vietnam benefit most from RMG, footwear shift from China

MONIRA MUNNI 2021-07-29 08:42:09

Bangladesh and Vietnam have benefited most due to the shifting of apparel and footwear exports from China, according to the latest analysis. It also found that in 2019, both the countries' combined s...

Centra bank to announce monetary policy with faster recovery target

Centra bank to announce monetary policy with faster recovery target

SIDDIQUE ISLAM 2021-07-29 08:25:34

The central bank is set to unveil today its monetary policy for the current fiscal year (FY) with an eye to accelerating recovery of the pandemic-hit economy, officials said. The Bangladesh Bank (BB)...

200,000 returnee expats to get Tk 13,500 each

200,000 returnee expats to get Tk 13,500 each

-- 2021-07-28 16:50:34

The government will provide Tk 13,500 to each of some 200,000 expatriate workers, who have returned home facing the negative impact of the COVID-19 pandemic. They will get the financial support under...

Bangladeshis among IMF-predicted 80m more hardcore poor worldwide

Bangladeshis among IMF-predicted 80m more hardcore poor worldwide

FE REPORT 2021-07-28 08:20:17

An additional 80-million people of low-income countries, including Bangladesh, are likely to enter into Covid-induced extreme poverty during 2020-21, the International Monetary Fund (IMF) has predic...

Cryptocurrency trading neither legal nor crime: BB

Cryptocurrency trading neither legal nor crime: BB

FE REPORT 2021-07-28 08:02:49

Bangladesh Bank is yet to recognize cryptocurrency as a legal currency, but has made it clear that the ownership or transaction of the digital currency is not a crime. The Foreign Exchange Policy D...

Lockdown spells concern for apparel industry amid 'peak season'

Lockdown spells concern for apparel industry amid 'peak season'

-- 2021-07-27 12:28:39

The impact of the coronavirus pandemic has been keenly felt by nearly all industries, none more so than Bangladesh's key forex-fetching readymade garment sector as orders from big fashion houses dried...

Aid inflow crosses $7b-mark for 2nd year

Aid inflow crosses $7b-mark for 2nd year

FHM Humayan Kabir 2021-07-27 12:01:19

Bangladesh received US$7.11 billion worth of foreign aid in the last fiscal year (FY) of 2020-21 despite hurdles in execution of the foreign-funded projects amid the Covid-19 pandemic. The foreign...

Bangladesh Bank streamlines reporting format for NBFIs

Bangladesh Bank streamlines reporting format for NBFIs

Siddique Islam 2021-07-27 11:29:21

The central bank has streamlined loan classification reporting format for non-banking financial institutions (NBFIs) - aiming to curb the rising trend of stressed assets through strengthening monito...

Japan plans to set up two more SEZs in Bangladesh

Japan plans to set up two more SEZs in Bangladesh

FE REPORT 2021-07-26 08:52:00

Japan is expected to set up two more special economic zones (SEZs) in Bangladesh to bring more investors from the industrially developed country. "Japanese investors eye Bangladesh as a potential d...

Philippines clears golden rice for commercial use, Bangladesh may approve soon

Philippines clears golden rice for commercial use, Bangladesh may approve soon

FE Online Report 2021-07-24 16:05:35

The Philippines has approved the release of vitamin A enriched golden rice, paving the way for it to be cultivated commercially in the country while creating a similar opportunity for Bangladesh. The...

Covid 'pingdemic' sharply slows UK’s growth

Covid 'pingdemic' sharply slows UK’s growth

REUTERS 2021-07-24 13:11:59

Britain's rapid economic bounce-back from the Covid-19 pandemic slowed sharply in July as a new wave of cases forced hundreds of thousands of workers to self-isolate under government rules to limit th...

Natural disasters coupled with virus variant threatening global supply chains

Natural disasters coupled with virus variant threatening global supply chains

REUTERS 2021-07-24 11:12:43

A new worldwide wave of Covid-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point,...

Bangladesh to attract FDI despite downturn: US report

Bangladesh to attract FDI despite downturn: US report

-- 2021-07-24 08:37:02

Bangladesh will remain the most resilient and continue to attract foreign direct investments (FDI) to live up to its image as a favourite place for global investors, despite the Covid-induced economic...

ADB approves $940m for Bangladesh Covid-19 vaccines

ADB approves $940m for Bangladesh Covid-19 vaccines

FE ONLINE DESK 2021-07-23 21:34:45

The Asian Development Bank (ADB) approved a loan package of $940 million on Wednesday for Bangladesh to purchase safe and effective vaccines against COVID-19. The package, which comprises a regular l...

Economic outlook for South Asia dampened, but Bangladesh recovering: ADB

Economic outlook for South Asia dampened, but Bangladesh recovering: ADB

-- 2021-07-23 21:17:29

The Asian Development Bank has said the economic outlook for South Asia is dampened by new waves of COVID-19, but the Bangladesh economy is recovering. The country’s exports in the first 11 mon...

IMF increases lending limit by 45pc for low-income countries

IMF increases lending limit by 45pc for low-income countries

FE ONLINE DESK 2021-07-23 17:48:24

The International Monetary Fund (IMF) has increased normal limits on access to concessional financing by 45 per cent to better support low-income countries (LICs) during the COVID-19 pandemic and the...

Delta dims global recovery outlook

Delta dims global recovery outlook

REUTERS 2021-07-21 21:19:59

A drubbing in world equity markets and a huge flight to safety into U.S. Treasuries this week suggests investors now doubt that a much-anticipated return to post-COVID normality is feasible any time s...

ADB lowers developing Asia’s economic growth forecast

ADB lowers developing Asia’s economic growth forecast

-- 2021-07-20 15:30:23

The Asian Development Bank (ADB) has marginally lowered its economic growth forecast for developing Asia this year amid the second wave of the pandemic. It projects a 7.2 per cent economic growth for...

New UK trading scheme to benefit Bangladesh

New UK trading scheme to benefit Bangladesh

-- 2021-07-20 14:29:28

The UK government has launched a new scheme that aims to drive trade with Bangladesh and other countries boosting jobs and growth. The new trading rules will help countries come out of poverty and he...

Bangladesh's inflation recorded at 5.56pc in 2020-21 fiscal

Bangladesh's inflation recorded at 5.56pc in 2020-21 fiscal

FE REPORT 2021-07-20 08:21:02

Bangladesh's average inflation rate in fiscal year (FY) 2020-21 was recorded at 5.56 per cent, up 0.16 percentage points from the government's target of 5.4 per cent, official data disclosed. However...