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Search results for: economy

Q1 remittance flow rises

Siddique Islam October 02, 2019 10:44:44

The inflow of remittances grew by more than 16 per cent in the first quarter (Q1) of this fiscal year (FY) as the government has announced a 2.0 per cent incentive on remittance receipts. The flow of...

'Higher FDI flow linked to growth momentum'

MIR MOSTAFIZUR RAHAMAN October 02, 2019 10:19:02

Bangladesh needs to strengthen its capital market so that entrepreneurs remain dependent less on financial institutions for funds, said Graham Wrigley, Chairman of CDC Group Plc, the UK government's i...

ADB provides $150m for infrastructure development of two regions

-- October 01, 2019 20:54:28

The Asian Development Bank (ADB) agreed to give $150 million as loans aiming to develop crucial infrastructure such as roads, drains and capacity in Dhaka and Khulna. To this end, ADB and the govern...

India's current account gap narrows in June quarter vs year ago

-- October 01, 2019 13:56:24

India’s current account deficit (CAD) narrowed to 2.0 per cent of gross domestic product in the June quarter of the fiscal year ending March 2020 from 2.3 per cent in the same period a year ago...

BIN update: NBR seeks curb on errant importers

FE REPORT October 01, 2019 11:05:20

The National Board of Revenue has requested the central bank to ask banks not to open letters of credit in favour of any importers who skipped updating business identity. Importers are required to re...

Aug private sector credit growth falls

SIDDIQUE ISLAM October 01, 2019 09:49:08

Private credit growth decelerated further in August as some banks had to prepare for complying with the central bank's revised advance-deposit ratio rules. Lower import growth also pushed down the pr...

Financial sector commission’s report on Modern Day Slavery launched in UN

-- September 30, 2019 19:53:41

The final report of the Financial Sector Commission on Modern Slavery and Human Trafficking was formally released at an important UN event in New York on September 27, said a press release. The Commi...

Package tour visitors to Macao drop in Aug

-- September 30, 2019 15:37:22

Package tour visitors to Macao dropped by 18.8 per cent year-on-year to 635,000 in August 2019, the special administrative region (SAR)'s statistics department said on Monday. The latest report from...

Gas, tobacco sectors: Tax revenue receipts drop in July-August

DOULOT AKTER MALA September 30, 2019 10:32:28

The Large Taxpayers Unit (LTU) saw a drop in revenue collection in the July-August period of the current fiscal year (FY), 2019-20. The revenue collection growth took a hit as two large sectors -- ga...

Govt targets Tk 13.93b negative bank borrowing for Oct

Siddique Islam September 30, 2019 09:45:53

The government's net borrowing from the country's banking system is set to be negative in October, as it is scheduled to repay more than Tk 10 billion from surplus, officials said. The Ministry of Fi...

Double-digit GDP growth in next five years: Kamal

FE Online Desk September 29, 2019 13:11:35

Finance minister AHM Mustafa Kamal today (Sunday) said Bangladesh's gross domestic product (GDP) growth will touch the double digit within the next five years. The country will make it with completio...

'Every capable person to have employment opportunity by 2030'

-- September 28, 2019 19:01:46

Finance Minister AHM Mustafa Kamal has expressed his hope that all capable persons of the country will have employment opportunity by 2030. “I believe that by 2030, every capable person of the...

Bulgarian economist Kristalina Georgieva becomes new IMF head

BBC September 28, 2019 18:21:28

Bulgarian economist Kristalina Georgieva has been appointed as the new managing director of the International Monetary Fund for a five-year term, starting on October 1. Ms Georgieva, who was previous...

Australia pledges $68m more in aid to farmers

-- September 28, 2019 12:10:52

Australia will set aside an additional $100 million Australian dollar (68 million US dollar) to support the country’s drought-stricken farmers, Prime Minister Scott Morrison said on Friday. Aus...

Ease of doing business: BD among top-20 improvers

-- September 28, 2019 10:25:40

Bangladesh has taken its position among the top-20 improvers in the ease of doing business 2020 as the country has implemented various reform initiatives to create a business-friendly environment, acc...

Battle to woo trade war's corporate refugees intensifies

Reuters September 27, 2019 20:42:22

When trade war tariffs jolted Chinese tire-maker Prinx Chengshan into speeding up foreign investment plans, the company wound up in Thailand, thanks to that country’s relentless courtship. With...

‘Farmers to get machineries at subsidised rate from next season’

-- September 27, 2019 19:10:48

Farmers will be provided with agricultural machinery at subsidiary rates in order to boost production and save them from losses, said Agriculture Minister Muhammad Abdur Razzaque. The minister told...

Japan strong partner in delivery of SDGs: Dr Bhattacharya

FE Online Report September 27, 2019 17:58:41

Japan is a strong development partner in delivery of Sustainable Development Goals (SDGs) in Bangladesh, said Dr Debapriya Bhattacharya. The economist said it while delivering a lecture in Tokyo on "...

China to further reduce poverty via industrial dev

-- September 27, 2019 14:27:05

China will further encourage industrial development and entrepreneurship in rural areas in a bid to alleviate poverty, officials have said. Poverty-stricken areas will be supported to develop feature...

Govt to address time lag for WB funds

FHM Humayan Kabir September 27, 2019 10:48:25

The government on Thursday requested the World Bank to finance eight projects, promising those to implement in time, officials said. They said most of the projects are at the take-off stage, pending...

VAT-exempt utilities for export sectors

Doulot Akter Mala September 27, 2019 10:07:48

The export-oriented sectors will get full exemption from payment of value-added tax (VAT) on utility services like gas, water and electricity bills only for the units manufacturing exportables. The f...

ADB lowers S Korea’s 2019 growth outlook to 2.1pc

Xinhua September 26, 2019 13:09:19

The Asian Development Bank (ADB) has lowered South Korea's 2019 growth outlook to 2.1 per cent, according to South Korean Finance Ministry. The revised forecast was down from 2.4 per cent estimated i...

Climate-friendly tax reform could help BD boost GDP: Report

FE Report September 26, 2019 09:58:14

Tax reform - including putting price on carbon emission, abolishing subsidies on fossil fuel and using the revenue in infrastructure, social spending and green-tech in textile sectors - could help B...

Tourist arrivals rise in five years

FE Report September 26, 2019 09:40:01

The number of foreign tourists' arrival in Bangladesh increased over the past five years, according to data revealed at a programme on Wednesday. The number of foreign tourists was about 0.16 million...

ADB projects 8.0pc GDP growth in FY20

-- September 25, 2019 17:48:12

The Asian Development Bank (ADB) on Wednesday projected 8.0 per cent GDP growth in Bangladesh in the current fiscal year indicating that the country will continue as the fastest growing economy in Asi...

Malaysia's leading index shows brighter economic outlook

-- September 25, 2019 15:54:45

Malaysia's leading index has signalled a brighter economic outlook in November 2019 until January 2020, according to official data released Wednesday. Malaysian Statistics Department said in a statem...

Dhaka requests Beijing to expedite processing of projects

MIR MOSTAFIZUR RAHAMAN September 25, 2019 10:13:48

Dhaka has recently requested Beijing to accelerate processing of documents of eight projects, which were planned to be implemented with Chinese grant assistance. The projects are yet to be started be...

New Zealand removes tax barriers for economic development

Xinhua September 24, 2019 14:08:15

New Zealand government removed two kinds of taxes to support local companies for a more productive, sustainable, and inclusive development on Monday. As part of the release of the government's econom...

How open is Bangladesh economy?

Siddique Islam September 24, 2019 10:06:19

The Bangladesh economy's degree of openness has seen a mixed trend in the last 10 years as economic expansion outstripped foreign trade rise. Bangladesh's trade-GDP ratio reached 46.30 per cent durin...

Japan to cut rate on BD loans from Oct

FHM Humayan Kabir September 24, 2019 09:56:45

Japan is likely to reduce the interest rate on its lending to Bangladesh by 0.30 percentage points to 0.65 per cent from next month (October), officials said on Monday. In October 2017, the Japan Int...