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The Financial Express

Search results for: economy

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...

US, Japan set for recovery in second half of 2021, IMF chief economist says

US, Japan set for recovery in second half of 2021, IMF chief economist says

Reuters 2021-01-07 16:55:59

Economic stimulus approved in the United States and Japan at the end of last year will help to power a recovery in their economies in the second half of 2021, IMF chief economist Gita Gopinath said on...

Fending off coronavirus, Vietnam revs up economy

Fending off coronavirus, Vietnam revs up economy

Reuters 2021-01-07 16:43:23

Vietnam’s success in curbing the coronavirus so far, while its Southeast Asia neighbours struggle, is helping the country power ahead in economic growth and attracting funds, foreign investors,...

Around 4,000 financial firms in Britain 'at risk of collapsing'

Around 4,000 financial firms in Britain 'at risk of collapsing'

Reuters 2021-01-07 14:23:47

Around 4,000 financial firms in Britain were at “heightened risk” of collapsing due to fallout from the first wave of the pandemic, the Financial Conduct Authority said on Thursday. The F...

LDC proposal to extend trade preference after graduation yet to be backed by the rich

LDC proposal to extend trade preference after graduation yet to be backed by the rich

SYFUL ISLAM and REZAUL KARIM 2021-01-07 10:00:38

The rich nations are yet to support a request by the LDCs to extend the existing trade preferences for an additional period of 12 years after their graduation, officials said. Against this backdrop,...

Finance minister slams changing forecasts by World Bank, IMF

Finance minister slams changing forecasts by World Bank, IMF

FE REPORT 2021-01-07 09:42:50

Finance Minister AHM Mustafa Kamal on Wednesday came down heavily on the World Bank (WB) and the International Monetary Fund (IMF) for frequently changing the forecast on gross domestic product (GDP)...

Bangladesh economy not in the middle of the pack, WB indicates

Bangladesh economy not in the middle of the pack, WB indicates

FE REPORT 2021-01-07 09:40:10

The country's economic growth rate for the current fiscal year is forecast to remain subdued at 1.6 per cent, even though the global economy may expand by 4.0 pc in 2021. For economies like Banglades...

Majority TIN-holders didn't submit tax returns; NBR may get tough on them

Majority TIN-holders didn't submit tax returns; NBR may get tough on them

Doulot Akter Mala 2021-01-07 09:34:05

A total of 2.6 million or 52.41 per cent of the taxpayers remained non-respondent to the mandatory provision of submission of income tax returns by the stipulated time, prompting the National Board of...

Bank deposits surge despite lower interest rate

Bank deposits surge despite lower interest rate

JASIM UDDIN HAROON 2021-01-07 09:30:20

The deposit growth in the country's banking sector increased by a record 13 per cent to approximately Tk 12.5 trillion in October last year, even as interest rate is at historic low, the central bank...

Finance minister sees no mismatch in economy

Finance minister sees no mismatch in economy

-- 2021-01-06 19:13:34

Finance Minister AHM Mustafa Kamal has reiterated that the economy of Bangladesh is in good shape as it is getting more dynamic and stronger day by day and there is no mismatch or distortion in the ec...

More countries may be in 'deep debt distress' this year: WB

More countries may be in 'deep debt distress' this year: WB

-- 2021-01-06 12:00:06

Chad and several other countries are already in deep debt distress and more will join their ranks this year, given the severity of the global recession triggered by the Covid-19 pandemic, World Bank G...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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...