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Search results for: economy

Covid cost BD economy $21b in FY'20

Covid cost BD economy $21b in FY'20

FE REPORT 2020-07-24 09:22:34

The Covid-19 losses for Bangladesh's economy might have reached between US$9.0 billion and US$21 billion in the just-concluded fiscal year, an economist said on Thursday. However, the country can off...

Economy to bounce back at year's end: Commerce minister

Economy to bounce back at year's end: Commerce minister

-- 2020-07-23 15:26:15

Commerce minister Tipu Munshi on Thursday hoped that the economy of the country will bounce back at the end of the year as some export products start seeing good demand in the global market amid the C...

100m people likely to enter extreme poverty globally in 2020: UN

100m people likely to enter extreme poverty globally in 2020: UN

UNB 2020-07-23 12:14:47

UN deputy chief Amina Mohammed has said as many as 100 million people are expected to be pushed back into extreme poverty in 2020, the first rise in global poverty since 1998. “We need all hand...

South Korea enters recession as exports plunge by most since 1963

South Korea enters recession as exports plunge by most since 1963

-- 2020-07-23 10:39:09

South Korea plunged into recession in the second quarter in its worst economic decline in more than two decades as the coronavirus pandemic battered exports and social distancing curbs paralysed facto...

Tk 300b sought for int'l standard hotels

Tk 300b sought for int'l standard hotels

FE REPORT 2020-07-23 10:01:52

Bangladesh International Hotel Association (BIHA) on Wednesday placed a six-point suggestion including allocation of Tk 300 billion under the government-announced incentive package for providing loans...

Fish production increases by 50pc in 11 years: PM

Fish production increases by 50pc in 11 years: PM

-- 2020-07-22 17:59:56

Prime Minister Sheikh Hasina on Wednesday said fish production in the country has increased by more than 50 per cent in the last 11 years. Citing latest report of the Food and Agriculture Organisatio...

BB sets Tk 262.92b farm credit target for FY’21

BB sets Tk 262.92b farm credit target for FY’21

FE Online Report 2020-07-22 17:16:20

The central bank on Wednesday set an agriculture credit target of Tk 262.92 billion for the banks to be disbursed during the current fiscal year (FY’21). The loan was estimated to be 8.99 per c...

IMF calls for protecting women's economic opportunities

IMF calls for protecting women's economic opportunities

-- 2020-07-22 12:10:59

The International Monetary Fund (IMF) has urged the policymakers to take effective steps to limit the coronavirus pandemic's scarring effects on women. Citing that COVID-19 pandemic threatens to roll...

Four specialised tech centres in EZs soon

Four specialised tech centres in EZs soon

FE REPORT 2020-07-22 10:38:51

Commerce ministry is set to establish four specialised technology centres (TCs) in economic zones (EZs) with an eye to boosting export earnings through adopting new technologies. Under a project, it...

Tk 18.31b cash incentives for exporters

Tk 18.31b cash incentives for exporters

FE REPORT 2020-07-22 10:35:11

The government has released a sum of Tk 18.31 billion in favour of the Bangladesh Bank for the payment of cash incentives/subsidy to local exporters, officials said. It is the first instalment of c...

FY '20 revenue rises by Tk 30b on fresh data

FY '20 revenue rises by Tk 30b on fresh data

DOULOT AKTER MALA 2020-07-22 09:25:08

The revenue board has managed to collect Tk 30 billion more for the public exchequer in the last fiscal year, reducing the extent of shortfall it suffered due to the COVID-19 pandemic. The National B...

ECNEC approves six dev projects involving Tk11.37b

ECNEC approves six dev projects involving Tk11.37b

FE ONLINE REPORT 2020-07-21 16:18:11

The Executive Committee of the National Economic Council (ECNEC) on Tuesday cleared six development projects involving Tk11.37 billion. The approval came from the ECNEC meeting held at NEC Confe...

Six BSCIC directors named for supervising SME loan activities

Six BSCIC directors named for supervising SME loan activities

-- 2020-07-21 15:24:51

The BSCIC Chairman has said that they will provide necessary assistance and supervise the government’s stimulus package of Tk 200.0 billion for the Small and Medium Enterprise (SME) sector. &ld...

Maldives to lower rents for tourism industry

Maldives to lower rents for tourism industry

-- 2020-07-21 15:15:32

The Maldives' government will lower rents for lands leased for tourism-related activities in order to boost investment, local media citing Minister of Economic Development Fayyaz Ismail has said. Ism...

EU reaches deal on post-pandemic recovery after marathon summit

EU reaches deal on post-pandemic recovery after marathon summit

-- 2020-07-21 10:41:54

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into...

Backlog raises RHD's fund demand by 1000pc

Backlog raises RHD's fund demand by 1000pc

Munima Sultana 2020-07-21 10:33:26

Backlog in road maintenance budget of Roads and Highways Department (RHD) during the last five years has increased the agency's fund demand by nearly 1000 per cent this year to keep its countrywide ro...

'Allow FDI in RMG sector'

'Allow FDI in RMG sector'

-- 2020-07-21 09:25:02

Bangladesh should allow foreign direct investment (FDI) in the apparel sector to help the industry weather the Covid-19 crisis, analysts and businesspeople said on Monday. They also said that over-co...

FY'20 ADP execution: Six state entities perform poorly

FY'20 ADP execution: Six state entities perform poorly

FHM HUMAYAN KABIR 2020-07-21 09:17:40

Six ministries and agencies could not spend even half of their development work in the last fiscal, in a blatant repeat of failure year after year, officials said on Monday. An economist said it has...

Floods destroy crops worth Tk 3.49b

Floods destroy crops worth Tk 3.49b

-- 2020-07-20 19:06:06

The government has estimated crop losses from flash floods at Tk 3.49 billion, Agriculture Minister Abdur Razzaque has said. "The floods have destroyed harvests of paddy, vegetables, jute and other c...

Euro zone current account surplus narrows again

Euro zone current account surplus narrows again

-- 2020-07-20 16:21:27

The current account surplus of the 19 countries sharing the euro narrowed to 7.95 billion euros in May from 14.27 billion euros in April on a big outflow of secondary income, which includes transfers...

EU leaders show first signs of compromise on stimulus plan

EU leaders show first signs of compromise on stimulus plan

REUTERS 2020-07-20 16:11:19

Signs emerged that leaders of northern European Union countries were willing to compromise on a 1.8 trillion euro ($2.0 trillion) coronavirus stimulus plan on Monday as talks in Brussels extended to a...

Pandemic forces people to spend savings for survival

Pandemic forces people to spend savings for survival

-- 2020-07-20 13:09:41

Farida Akhter, a homemaker living in Dhaka's Basabo, bought a 'Paribarik Sanchayapatra', a savings instrument, worth Tk 1.0 million two years ago. She used to draw Tk 8,640 a month in interest from it...

RMG export earnings in July 1-18 total $1.57b

RMG export earnings in July 1-18 total $1.57b

Monira Munni 2020-07-20 10:13:18

The country's ready-made garment (RMG) export earnings in the first 18 days of July stood at US$1.57 billion despite the Covid-19 pandemic, which local manufacturers consider as a good sign of revivin...

Covid-19: EU recovery summit remains deadlocked

Covid-19: EU recovery summit remains deadlocked

REUTERS 2020-07-20 10:05:43

EU leaders stood at an impasse on Monday after three days of haggling over a plan to revive economies throttled by the Covid-19 pandemic, but the chairman of their near-record-length summit urged them...

Power Division implements 94pc project work under ADP

Power Division implements 94pc project work under ADP

FE REPORT 2020-07-20 09:40:21

The Power Division under the Ministry of Power, Energy and Mineral Resources, or MPEMR, has implemented 94.40 per cent of project work under the Annual Development Programme, or ADP, in the last fis...

NBR plans to prod taxpayers

NBR plans to prod taxpayers

DOULOT AKTER MALA 2020-07-20 09:36:37

The National Board of Revenue (NBR) has revived its plan to identify barriers that constrain making the online income tax returns user-friendly. The income tax wing of the board has formed a high-pow...

Interest rate spread on decline

Interest rate spread on decline

SIDDIQUE ISLAM 2020-07-20 09:34:09

Interest rate spread in the country's banking system improved slightly in May as banks slashed interest rates on deposits more than on lending. The spread defined as the gap between lending and depos...

ADB reorganises projects to offset pandemic effect

ADB reorganises projects to offset pandemic effect

SYFUL ISLAM 2020-07-20 09:25:01

The Asian Development Bank or ADB has reshuffled the current year's projects, pushed back a few and included some fresh programmes with the objective of offsetting the impact of the pandemic on life...

Brazil's Bolsonaro says coronavirus restrictions kill economy

Brazil's Bolsonaro says coronavirus restrictions kill economy

REUTERS 2020-07-19 13:30:38

Brazilian President Jair Bolsonaro said on Saturday that lockdown measures used to curb the spread of the novel coronavirus “kill” and have “suffocated” the country’s eco...

Public health response remains key priority to protect economic activity: IMF

Public health response remains key priority to protect economic activity: IMF

FE ONLINE DESK 2020-07-19 12:16:32

As countries around the world struggle to strike a balance between lives, jobs and economies amid the continuing impact of the coronavirus pandemic, the International Monetary Fund (IMF)’s Manag...