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The Financial Express

Search results for: economy

ECNEC okays Tk 59.05b project to rehabilitate rural road network

ECNEC okays Tk 59.05b project to rehabilitate rural road network

-- 2020-11-17 18:56:45

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved a Tk 59.05 billion project to maintain the rural road network by rehabilitating the roads, bridges and culverts des...

India mulls easing investment rules for neighbours, including China: Report

India mulls easing investment rules for neighbours, including China: Report

REUTERS 2020-11-17 15:02:48

India is considering a plan to allow up to 26 per cent foreign direct investment from countries with which it shares a land border, including China, without government scrutiny for some sectors, the E...

ADB allocates over $20m to help developing members access Covid-19 vaccines

ADB allocates over $20m to help developing members access Covid-19 vaccines

-- 2020-11-17 12:33:23

The Asian Development Bank (ADB) said on Tuesday that it had allocated 20.3 million US dollars in technical assistance to help its developing members access vaccines for coronavirus (Covid-19) and est...

750 bond licence holders stopped from export-import activities for flouting rules

750 bond licence holders stopped from export-import activities for flouting rules

DOULOT AKTER MALA 2020-11-17 10:05:43

The customs authority has locked Business Identification Numbers (BINs) of 750 apparel units for their failure to submit export-import documents for auditing. As per the customs rules, exporters cann...

Bangladesh to seek relaxed China rules for increasing exports

Bangladesh to seek relaxed China rules for increasing exports

REZAUL KARIM 2020-11-17 09:54:55

Bangladesh is set to put forward some proposals including seeking relaxation of Asia Pacific Trade Agreement (APTA) rules of origin during the ensuing Foreign Office Consultation (FOC) meeting, offici...

Pandemic forces govt to start slashing foreign-aided project allocations

Pandemic forces govt to start slashing foreign-aided project allocations

FHM HUMAYAN KABIR 2020-11-17 09:37:44

The Economic Relations Division (ERD) has started work on revising the project aid allocations in the development budget amid the impact of COVID pandemic on the project implementation, officials sa...

Bangladesh Bank to release new banknote of Tk 10 Tuesday

Bangladesh Bank to release new banknote of Tk 10 Tuesday

FE ONLINE DESK 2020-11-16 21:01:26

The central bank will release new banknote of Tk 10 on Tuesday incorporating advanced security features of the currency with an aim to prevent fake notes. Initially, the new banknotes will be availab...

Asia forms world's biggest trade bloc

Asia forms world's biggest trade bloc

Reuters 2020-11-15 19:30:12

Fifteen Asia-Pacific economies formed the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President...

Bangladesh among countries more susceptible to global trade disruptions: UNCTAD

Bangladesh among countries more susceptible to global trade disruptions: UNCTAD

FE Online Desk 2020-11-15 17:38:24

Many emerging economies like Bangladesh will be affected by declining international demand and export revenues as the UNCTAD fears a fall in the volume of global trade in 2020. In its ‘Review o...

‘Discrepancy in accounting processes’ halts money laundering investigation, says NBR chief

‘Discrepancy in accounting processes’ halts money laundering investigation, says NBR chief

UNB 2020-11-15 17:23:03

The National Board of Revenue (NBR) seems to have all the elements in place, except for the investigation. In five years since 2015, when the Customs Intelligence and Investigation Directorate (CIID)...

Iran’s trade with Europe hits $8.8b in 7 months

Iran’s trade with Europe hits $8.8b in 7 months

-- 2020-11-15 12:53:13

The value of bilateral trade between Iran and the European countries reached 8.8 billion US dollars from March 20 to Oct. 21, Ruhollah Latifi, spokesperson for Iran's Customs Office announced on Satur...

Thailand aims to produce 4.9m tonnes of natural rubber this year

Thailand aims to produce 4.9m tonnes of natural rubber this year

-- 2020-11-14 16:09:39

Thailand is expected to produce some 4.9 million tonnes of natural rubber throughout this year, said Rubber Authority of Thailand (RAOT) Governor Nakorn Tangavirapat on Saturday. Of the total natural...

China growth helps Bangladesh economy: Report

China growth helps Bangladesh economy: Report

FE REPORT 2020-11-14 09:53:59

Bangladesh is among top five economies recovering faster as a result of Chinese growth, according to an international publication. The five economies that are dodging bullets of COVID-19 are: China,...

Malaysia's economy records smaller contraction of 2.7pc in Q3

Malaysia's economy records smaller contraction of 2.7pc in Q3

-- 2020-11-13 15:06:28

Malaysia's economy decreased at a slower pace of 2.7 per cent in the third quarter from the double-digit decline of 17.1 per cent in the second quarter of 2020, said its central bank on Friday. Bank...

Trump bans US investments in Chinese firms with military ties

Trump bans US investments in Chinese firms with military ties

Reuters 2020-11-13 12:26:36

The Trump administration on Thursday (US standard time) unveiled an executive order prohibiting US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ra...

Tax receipts rise minimally in July-Oct

Tax receipts rise minimally in July-Oct

FE REPORT 2020-11-13 10:20:32

Tax revenue collection registered only 1.14 per cent growth in the first four months of the current fiscal year (FY), 2020-21, with Tk 204.45 billion shortfall against the target. The National Board...

Minister believes document verification will boost tax receipt

Minister believes document verification will boost tax receipt

FE REPORT 2020-11-13 10:14:37

Finance minister AHM Mustafa Kamal on Thursday called upon the accountants to maintain transparency and accountability in discharging their professional responsibilities. He said accountants are the...

BB asks banks not to allow non-members in board meet

BB asks banks not to allow non-members in board meet

FE Report 2020-11-13 10:05:11

The central bank has asked all the scheduled banks to prohibit non-members from attending meetings of their board and board committees whatever the circumstance is, officials said. "We've issued the...

Govt adopts 5.2pc inflation target for FY22-23

Govt adopts 5.2pc inflation target for FY22-23

-- 2020-11-12 21:06:26

The Bangladesh government has adopted an inflation target of 5.2 per cent for the 2022-23 fiscal (FY22-23), a move which seems to be in line with its focus on boosting growth while keeping prices in c...

ASEAN summit kicks off virtually, highlights post-Covid-19 recovery

ASEAN summit kicks off virtually, highlights post-Covid-19 recovery

-- 2020-11-12 13:17:10

The Association of Southeast Asian Nations (ASEAN) has opened its 37th summit under the chairmanship of Vietnam via video conference, with focus on recovery from coronavirus (COVID-19) and the role of...

Pandemic slows Bangladesh's development spending

Pandemic slows Bangladesh's development spending

FHM HUMAYAN KABIR 2020-11-12 10:15:26

The Covid-19 pandemic seriously affected the development project execution by the relevant government agencies during July-October period of the fiscal year (FY) 2020-21, officials said on Wednesday....

VAT online project awaits yet another extension

VAT online project awaits yet another extension

DOULOT AKTER MALA 2020-11-12 09:51:27

The government may extend the much-talked-about VAT Online Project (VOP) by another six months to June 30, 2021, as some of its key components are unlikely to be implemented with the December 31 deadl...

Back to the drawing board: Stakeholders' dialogue on quicker fund flow from stimulus packages

Back to the drawing board: Stakeholders' dialogue on quicker fund flow from stimulus packages

SYFUL ISLAM 2020-11-12 09:44:10

Amid slow disbursement of Covid-19 stimulus packages, the government has decided to hold dialogues with trade groups, banks, and the ministries concerned to find a way forward, officials said. The fi...

RMG export faces setbacks as Covid-19 surges in US, Europe again

RMG export faces setbacks as Covid-19 surges in US, Europe again

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

Bangladesh's forex-fetching readymade garment industry had begun to show signs of revival with expectations of a surge in foreign orders before the Christmas after a huge slump in export. But it is no...

Inter-factory transfer of raw materials to be taxable: NBR

Inter-factory transfer of raw materials to be taxable: NBR

FE REPORT 2020-11-11 10:20:42

Manufacturing industries will have to pay VAT for transferring raw materials from one factory to another, according to a clarification of the revenue board. However, the manufacturing units will get...

US Fed warns of financial risks as coronavirus persists

US Fed warns of financial risks as coronavirus persists

-- 2020-11-10 15:19:45

The US Federal Reserve has warned of a potential decline in asset prices and other financial risks as the coronavirus (Covid-19) pandemic and recession persists. "Given the high level of uncertainty...

PRAN-RFL Group to create 5000 jobs in Rajshahi

PRAN-RFL Group to create 5000 jobs in Rajshahi

FE ONLINE DESK 2020-11-10 14:51:01

PRAN-RFL Group’s Barind (Varendra) Industrial Park in Rajshahi will create four to five thousand jobs, of which 95 per cent job holder will be local, says a media release. It has plan to produc...

Vietnam's rice export up in 10 months

Vietnam's rice export up in 10 months

-- 2020-11-09 14:48:48

Vietnam reaped over 2.6 billion US dollars from exporting nearly 5.3 million tons of rice in the first 10 months of this year, up 8.2 per cent in value and down 4.0 per cent in volume year on year, ac...

72pc firms yet to receive stimulus: SANEM

72pc firms yet to receive stimulus: SANEM

-- 2020-11-07 20:07:13

Around 72 per cent of the firms surveyed are yet to receive any stimulus package, according to a survey of South Asian Network of Economic Modeling (SANEM). The major challenges include lack of packa...

WB to fund Bangladesh's western economic corridor project

WB to fund Bangladesh's western economic corridor project

FHM HUMAYAN KABIR 2020-11-07 09:52:32

The World Bank (WB) has agreed to finance the country's western economic corroder with a view to facilitating a smart connectivity there, an official said on Friday. The Washington-based lender wou...