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The Financial Express
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Search results for: economy

Virus revives 'mattress' economy

Virus revives 'mattress' economy

JASIM UDDIN HAROON 2020-07-31 09:26:59

Money multiplier decreased in the last fiscal year as people are holding cash after the coronavirus pandemic, according to statistics prepared by the central bank. The data show that the key indicato...

Austrian economy suffers historic 11 per cent slump in second quarter

Austrian economy suffers historic 11 per cent slump in second quarter

REUTERS 2020-07-30 16:07:44

The Austrian economy shrank 10.7 per cent in the second quarter, marking its biggest contraction since the data series began after World War Two, as the coronavirus pandemic hit both domestic and fore...

Work for inclusive societies, economies: UN chief

Work for inclusive societies, economies: UN chief

-- 2020-07-30 14:45:52

UN Secretary-General Antonio Guterres has urged all to pledge to work for inclusive societies and economies that leave no one behind. UN Secretary-General Antonio Guterres has urged all to pledge to...

Vietnam's industrial production up slightly in 7 months

Vietnam's industrial production up slightly in 7 months

-- 2020-07-30 11:12:01

Vietnam's national index of industrial production advanced 2.6 per cent year-on-year in the first seven months of this year, according to the General Statistics Office on Thursday. The main driver of...

Economists heap praise on monetary policy

Economists heap praise on monetary policy

FE REPORT 2020-07-30 09:48:23

The monetary policy released by the central bank on Wednesday for the current fiscal year is towards the right direction, economists say warning of the possible abuse. The policy for 2020-2021 fiscal...

Revised incentive package for investors underway

Revised incentive package for investors underway

Mir Mostafizur Rahaman 2020-07-30 09:34:48

The country's investment promotion agencies are pulling their socks up to improve the country's investment climate, a prerequisite for snaring foreign investors. Analysts are of the opinion that th...

China-EU economic ties steering toward recovery from COVID-19

China-EU economic ties steering toward recovery from COVID-19

Global Times 2020-07-29 16:20:41

China and EU Tuesday convened one of their most important meetings of the year, steering the vessel of bilateral economic ties toward a reassuring recovery from the COVID-19 pandemic. The two major e...

BB lowers borrowing costs to boost money flow

BB lowers borrowing costs to boost money flow

FE ONLINE REPORT 2020-07-29 16:17:50

The central bank unveiled an expansionary monetary policy on Wednesday for current fiscal year lowering borrowing costs to boost money flow for revamping the pandemic-hit economy. As part of the expa...

Japan cos' China exit: Bangladesh misses the train

Japan cos' China exit: Bangladesh misses the train

MIR MOSTAFIZUR RAHAMAN 2020-07-29 13:45:09

Bangladesh's hope for attracting 30 Japanese companies relocating from China has been dashed as these firms have already decided to move elsewhere. Experts said that strong political will from the hi...

India's gloomy outlook darkens, recovery path in doubt

India's gloomy outlook darkens, recovery path in doubt

REUTERS 2020-07-29 13:33:52

The outlook for India’s reeling economy has worsened again as business activity slows and Covid-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again...

Move to stop tax evasion on cars

Move to stop tax evasion on cars

Doulot Akter Mala 2020-07-29 09:45:37

The National Bard of Revenue (NBR) has joined its hand with the Bangladesh Road Transport Authority (BTRA) to scrutinize information of vehicle owners to check tax evasion. The step has also been tak...

Forex reserve crosses $37b-mark for first time

Forex reserve crosses $37b-mark for first time

-- 2020-07-28 21:53:31

The country’s foreign exchange reserve has touched a new record of $37.10 billion amid coronavirus crisis. The inflow of remittance has played a vital role to raise the foreign exchange reserve...

Country loses 30pc rawhide every year for improper preservation

Country loses 30pc rawhide every year for improper preservation

-- 2020-07-28 18:30:29

The country loses around 30 per cent of total rawhide every year due to improper skinning and environmental protection and preservation, the commerce ministry has said. Describing rawhides of sacrifi...

Annual trade gap crosses $17b in FY20

Annual trade gap crosses $17b in FY20

FE Online Report 2020-07-28 18:09:22

Country’s bilateral merchandise trade gap with the rest of the world crossed $17.0 billion mark in the last fiscal year (FY20), according to the latest statistics of Bangladesh Bank.  It s...

Australian employment suffers setback from second virus wave

Australian employment suffers setback from second virus wave

REUTERS 2020-07-28 16:18:20

Australian employment fell 1.1 per cent between mid-June and mid-July, weekly data showed on Tuesday, with the biggest loss coming from the southeastern state of Victoria, which is grappling with a fr...

Govt endorses seven projects worth Tk 30.75b

Govt endorses seven projects worth Tk 30.75b

FE Online Report 2020-07-28 15:56:57

The government on Tuesday in Dhaka endorsed seven development projects at a combine cost of Tk 30.75 billion. Presided over by the Prime Minister Sheikh Hasina, the Executive Committee of the Nationa...

China's economy seen growing 2.2 per cent in 2020

China's economy seen growing 2.2 per cent in 2020

REUTERS 2020-07-28 13:46:31

China’s economy is expected to recover steadily in the rest of the year, boosted by stimulus measures to reverse the damage from the coronavirus crisis, but weak global demand and rising Sino-US...

UN chief calls for efforts to build sustainable cities amid pandemic

UN chief calls for efforts to build sustainable cities amid pandemic

-- 2020-07-28 12:51:00

UN Secretary-General Antonio Guterres on Tuesday called for efforts to build sustainable cities amid the Covid-19 pandemic. In a video message for the launch of his policy brief on Covid-19 and citie...

NBR to introduce automated challan from mid-August

NBR to introduce automated challan from mid-August

DOULOT AKTER MALA 2020-07-28 09:57:11

The National Board of Revenue (NBR) is set to launch an automated challan system for income taxpayers from mid-August in a bid to check submission of fake challan. The NBR and Finance Division will j...

BB releases monetary policy tomorrow

BB releases monetary policy tomorrow

SIDDIQUE ISLAM 2020-07-28 09:38:58

The central bank unveils its monetary policy for this fiscal year tomorrow (Wednesday) aiming to help revamp the economic activities through the implementation of stimulus packages. Bangladesh Bank w...

Post-Covid business: Govt updating laws to snare foreign investors

Post-Covid business: Govt updating laws to snare foreign investors

SYFUL ISLAM 2020-07-28 09:29:52

The government is streamlining five laws as part of its efforts to attract foreign direct investment or FDI, which may shift in the post-pandemic era, officials have said. The laws are the Foreign Ex...

Japan to dispense $1.0b in budget aid

Japan to dispense $1.0b in budget aid

FHM Humayan Kabir 2020-07-28 09:17:53

Bangladesh for the first time is expected to secure US$1.0 billion worth of budget support from Japan next week. The support would help the government weather the impact of the COVID-19 on the econom...

Euro zone economy not yet out of danger from Covid-19: ECB's Panetta

Euro zone economy not yet out of danger from Covid-19: ECB's Panetta

-- 2020-07-27 13:50:34

The danger to the euro zone economy from the coronavirus (Covid-19) pandemic is not yet over, European Central Bank board member Fabio Panetta told La Repubblica, adding that he saw no need to make an...

Transshipment with neighbours: NBR readies procedures

Transshipment with neighbours: NBR readies procedures

DOULOTAKTER MALA and SYFUL ISLAM 2020-07-27 09:22:48

Bangladesh is set to work out a comprehensive procedure to conduct transshipment of goods with India, Nepal and Bhutan on three routes -- sea, land and air. Following the recent kick-off of the Indo-...

Uncertain policy deters FDI, experts tell virtual dialogue

Uncertain policy deters FDI, experts tell virtual dialogue

FE REPORT 2020-07-26 10:12:20

Speakers at a dialogue have identified policy uncertainty and unpredictability as the key impediment to attracting increased foreign direct investments in the country. They said the lack of coordinat...

BR fails to prove its mettle

BR fails to prove its mettle

FHM HUMAYAN KABIR 2020-07-26 10:08:27

The Bangladesh Railway (BR) was the worst performer among the large government agencies in the last fiscal as it could spend less than 60 per cent of its total allocations, officials say. Insiders sa...

Defer graduation from LDC club to tap trade benefits

Defer graduation from LDC club to tap trade benefits

FE REPORT 2020-07-26 09:36:15

Bangladesh should defer the LDC graduation process considering the adverse impact of COVID-19 pandemic that has already turned the economy upside down, economists and business leaders said on Saturday...

BB orders banks to postpone loan recovery from flood-hit farmers

BB orders banks to postpone loan recovery from flood-hit farmers

-- 2020-07-24 18:09:58

Bangladesh Bank has ordered all banks to postpone recovery of loans from flood-hit farmers until the situation improves. The central bank has also ordered disbursement of new farm loans readjusting d...

8th Five Year Plan: COVID-19 forces govt to alter its approach

8th Five Year Plan: COVID-19 forces govt to alter its approach

-- 2020-07-24 16:56:53

The government is going to change the main macroeconomic structure of the 8th Five Year Plan to protect people amid the fast-changing scenario in Bangladesh economy due to COVID-19 crisis. The Planni...

Singapore's manufacturing output declines 6.7pc on year in June

Singapore's manufacturing output declines 6.7pc on year in June

-- 2020-07-24 12:20:35

Singapore Economic Development Board announced on Friday that the country's manufacturing output decreased 6.7 per cent year on year in June, compared to a revised 8.1 per cent decrease in May. In th...