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Bangladesh prepares to form pacts with 12 nations for retrieving black money

Bangladesh prepares to form pacts with 12 nations for retrieving black money

UNB 2020-10-31 19:46:19

The government is preparing to bring black money back to the country.  News agency UNB has learnt that the government is planning to ink taxation agreements with as many as 12 countries for allo...

Bangladesh stands out as exception to global pattern of shrinking remittances: WB

Bangladesh stands out as exception to global pattern of shrinking remittances: WB

KHAWAZA MAIN UDDIN 2020-10-31 15:21:52

Bangladesh has exceptionally denied the worldwide declining trend of remittance inflows in a pandemic-hit year, as, a World Bank projection says, the country may receive US$20 billion, or 8.0 per cent...

How COVID-19 will increase inequality in emerging markets and developing economies

How COVID-19 will increase inequality in emerging markets and developing economies

blogs.imf.org 2020-10-30 21:15:03

Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now...

US supports one million American jobs in Indo Pacific in two years

US supports one million American jobs in Indo Pacific in two years

-- 2020-10-30 20:03:07

The United States has supported nearly one million American jobs and assisted over 12,000 US companies active in Indo pacific region that includes Bangladesh since July 2018. The information was reve...

On Going China Project in Bangladesh

On Going China Project in Bangladesh

The Policy Times 2020-10-30 18:23:32

China National Machinery Import and Export Corporation (CMC) has partnered with North West Power Generation Company Limited (NWPGCL) of Bangladesh to invest, construct and operate Payra 2×660 MW...

Dhaka may receive chunk of IFC’s $4.0b global pandemic aid

Dhaka may receive chunk of IFC’s $4.0b global pandemic aid

FE Online Report 2020-10-30 16:45:16

The International Finance Corporation (IFC) will work with its partners to help recapitalise viable businesses aiming at a resilient recovery, the lending agency iterated on Friday. The IFC’s p...

German economy sees record growth in third quarter

German economy sees record growth in third quarter

REUTERS 2020-10-30 16:05:22

The German economy grew by a record 8.2 per cent in the third quarter as Europe’s largest economy partly recovered from its worst-ever recession caused by the Covid-19 pandemic, data from the Fe...

Vietnam's export turnovers rise 4.7pc in 10 months

Vietnam's export turnovers rise 4.7pc in 10 months

-- 2020-10-30 12:22:05

Vietnam's export and import turnovers in the first 10 months of 2020 increased by 4.7 per cent and 0.4 per cent year-on-year respectively, according to the country's General Statistics Office on Frida...

China's supply chain investment can address trade gap with Bangladesh: CPD

China's supply chain investment can address trade gap with Bangladesh: CPD

FE Report 2020-10-30 09:30:09

Speakers at a webinar on Thursday stressed the need for more Chinese investments in the supply chain to slash trade gap by increasing Bangladesh's exports to the East Asian nation. They said the part...

BB allows foreign investors to open temporary Taka Accounts

BB allows foreign investors to open temporary Taka Accounts

-- 2020-10-29 20:07:01

Foreign investors, from now on, can open Temporary Non-Resident Taka Account with local authorised dealers (AD)-designated banks and also with offshore banking units (OBUs) of local banks. Referring...

Forex reserves cross $41b

Forex reserves cross $41b

-- 2020-10-29 19:58:26

Bangladesh’s foreign currency reserves have surpassed $41 billion, three weeks after crossing the $40 billion for the first time. The reserves at the Bangladesh Bank stood at $41.2 billion on T...

Working capital loan fund under Covid-19 stimulus package raised to Tk 400b

Working capital loan fund under Covid-19 stimulus package raised to Tk 400b

-- 2020-10-29 19:52:04

The amount of working capital loan for Covid-19 affected industries and service sectors under the Prime Minister's announced Economic Stimulus Package has been raised to Tk 400 billion from Tk 330 bil...

As Covid-19 lingers, US polls near, China growth gives Asia a boost

As Covid-19 lingers, US polls near, China growth gives Asia a boost

REUTERS 2020-10-29 12:30:23

Asia is starting to see signs of economic recovery as it rides on the back of an upturn in China, which is entering a new expansion phase less than a year after it recorded the world's first cases of...

USAID announces $28m assistance to advance South Asian regional energy market

USAID announces $28m assistance to advance South Asian regional energy market

FE Online Report 2020-10-29 10:42:49

USAID has launched more than $28 million in activities to advance regional energy markets in South Asia to strengthen energy security and expand access to energy across the Indo-Pacific region. US Ag...

Bangladeshis among supply chain workers to receive US pandemic aid

Bangladeshis among supply chain workers to receive US pandemic aid

FE REPORT 2020-10-29 09:50:20

The USAID and a dozen of US-based retail, apparel and footwear companies teamed up on Wednesday to help and alleviate the hardship faced by the workers in the Asian supply chains, including that of Ba...

Japan propels higher aid inflow to Bangladesh

Japan propels higher aid inflow to Bangladesh

FHM Humayan Kabir 2020-10-29 09:38:36

The inflow of foreign aid to Bangladesh jumped by 55 per cent in the first quarter (Q1) of this fiscal after Japan released a big chunk of budget support to help the economy recover from the Covid-rel...

Central bank offers cheapest ever export loans

Central bank offers cheapest ever export loans

SIDDIQUE ISLAM 2020-10-29 09:37:54

The central bank has slashed interest rates on loans under the Export Development Fund (EDF) to help exporters weather the pandemic-related disruptions. The revised rates will allow exporters to borr...

Budget spend falls Tk 1.0 trillion short of FY'20 target

Budget spend falls Tk 1.0 trillion short of FY'20 target

FE REPORT 2020-10-29 09:36:10

The government expenditure fell significantly in the last fiscal year as the COVID-19 crisis impacted development outlays. The total budget outlay reached Tk 3.98 trillion at the end of June 30, do...

Banks asked to provide loans to small businesses sincerely, at low interest

Banks asked to provide loans to small businesses sincerely, at low interest

-- 2020-10-28 19:13:24

Prime Minister Sheikh Hasina on Wednesday asked the private banks to be more sincere in providing loans at low interest to small business enterprises to offset the Covid-19 fallout. "In our incentive...

Tea cultivation to be widened on slopes of Garo Hills

Tea cultivation to be widened on slopes of Garo Hills

-- 2020-10-28 16:25:35

Bangladesh Tea Research Institute (BTRI), a body of the Bangladesh Tea Board, has taken an initiative to widen the tea cultivation at the slope of Garo Hills in greater Mymensingh. To this end, the g...

Tourist arrivals fall 70pc worldwide: UNWTO

Tourist arrivals fall 70pc worldwide: UNWTO

FE Online Desk 2020-10-28 15:39:59

Global tourism has witnessed a fall by 70 per cent in international tourist arrivals as the restrictions on travel introduced in response to the Covid-19 pandemic have continued to hit the sector hard...

Plastic industry policy aims to create 500,000 jobs

Plastic industry policy aims to create 500,000 jobs

MONIRA MUNNI 2020-10-28 10:07:09

The country's plastic and packaging industry is projected to grow at a rate of 15 per cent annually, and generate fresh employment for around 0.5 million people by 2026, sources said. It has also tar...

Exporters given Tk 18.31b incentive

Exporters given Tk 18.31b incentive

FE REPORT 2020-10-28 09:52:59

The government has released a sum of over Tk 18.31 billion in favour of the Bangladesh Bank for the payment of cash incentives to local exporters, officials said. It is the second installment of cash...

Surprising surplus in Bangladesh's balance of payments

Surprising surplus in Bangladesh's balance of payments

FE REPORT 2020-10-28 09:46:58

The country's overall Balance of Payments (BoP) posted a surplus at over US$ 3.0 billion in the July-September period, according to the central bank of Bangladesh. Many economists believe the slow pa...

Bangladesh regains 40pc cancelled RMG export orders: Foreign minister

Bangladesh regains 40pc cancelled RMG export orders: Foreign minister

-- 2020-10-27 22:37:27

Foreign Minister AK Abdul Momen on Tuesday said Bangladesh has regained 40 per cent of readymade garment (RMG) export orders, which were cancelled by different countries amid COVID-19, due to efforts...

Global FDI drops 49 pc in H1, Bangladesh also sees decline

Global FDI drops 49 pc in H1, Bangladesh also sees decline

FE Online Report 2020-10-27 13:26:07

Inflows of global foreign direct investment (FDI) fell 49.0 per cent in the first half (H1) of the current year ‘due to the economic fallout from Covid-19’. The latest Global Investment T...

US sanction fear dissuades Bangladesh from tapping Russia export market

US sanction fear dissuades Bangladesh from tapping Russia export market

REZAUL KARIM 2020-10-27 09:54:47

Country's banks are reluctant to establish direct transaction links with the Russian banks amid the fear of possible US sanction, officials said. The fear was expressed in a position paper prepared b...

Bangladesh to simplify FDI policy for companies leaving China

Bangladesh to simplify FDI policy for companies leaving China

-- 2020-10-26 18:19:51

Bangladesh is looking at simplifying its foreign direct investment (FDI) policy as well as the corporate taxation system to lure companies seeking to move their manufacturing base from China in view o...

GDP more of a 'black box' to common man: Economists

GDP more of a 'black box' to common man: Economists

FE REPORT 2020-10-26 11:28:11

Some leading economists on Saturday suggested exploring 'exceptional indicators' that would help make the economic development visible and easily understandable to the common man. They also expressed...

BPC identifies 800 tourist spots in eight divisions

BPC identifies 800 tourist spots in eight divisions

-- 2020-10-25 20:17:40

The Bangladesh Parjatan Corporation (BPC) has identified more than 800 tourist spots in eight divisions of the country. The Parliamentary Standing Committee on the Ministry of Civil Aviation and Tour...