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Search results for: economy

Govt to purchase LNG from spot market for first time

Govt to purchase LNG from spot market for first time

-- 2020-09-02 21:04:26

The government has decided to purchase 3,490,200 Mmbtu liquefied natural gas (LNG) from the spot market for the first time in the country with a cost of around Tk 1.33 billion. The Cabinet Committee...

‘Remittance inflow witnesses 50pc growth in two months’

‘Remittance inflow witnesses 50pc growth in two months’

-- 2020-09-02 19:24:00

Mentioning that the inward remittance inflow witnessed a whopping 50 per cent growth during this July-August period, Finance Minister AHM Mustafa Kamal has said such uptrend of remittance inflow along...

Bangladesh receives $1.96b remittance in August

Bangladesh receives $1.96b remittance in August

-- 2020-09-02 17:27:57

Expatriate Bangladeshis remitted around $1.96 billion in the month of August in the fiscal 2020-21 which is the second highest in the country’s history, according to the latest data of Banglades...

Eurozone unemployment rises again

Eurozone unemployment rises again

-- 2020-09-02 11:36:10

The unemployment rate in the 19-member euro area continued to rise in July, a month marked by some relaxation of COVID-19 containment measures in many members of the European Union (EU), showed the fi...

Australia in recession for first time in nearly 30 years

Australia in recession for first time in nearly 30 years

-- 2020-09-02 10:17:21

Australia's economy has plunged into its first recession in nearly 30 years, as it suffers the economic fallout from the coronavirus. Gross domestic product (GDP) shrunk 7 per cent in the April-to-Ju...

Challenges lie in using factoring mechanism

Challenges lie in using factoring mechanism

FE REPORT 2020-09-02 09:43:18

Experts on Monday pinpointed challenges like lower capacity of bankers and people concerned in using widely-applied financing mechanism 'factoring'. To make it more popular, they suggested giving mor...

Forex reserves cross $39b for first time

Forex reserves cross $39b for first time

-- 2020-09-01 17:15:35

Foreign exchange reserves of Bangladesh have crossed $39 billion for the first time, according to an official of Bangladesh Bank. The reserves recorded at $39.4 billion on Tuesday are equivalent to a...

India's factory output rebounds in August

India's factory output rebounds in August

-- 2020-09-01 16:17:31

India's manufacturing sector bounced back in August amid improved customer demand and relaxation of coronavirus (Covid-19) lockdown, as per a survey released on Tuesday. The Purchasing Managers' Inde...

Govt endorses six development projects worth TK 66.29 billion

Govt endorses six development projects worth TK 66.29 billion

FE Online Report 2020-09-01 16:09:21

The government on Tuesday in Dhaka endorsed six development projects at a combined cost of Tk 66.29 billion. Presided over by the Prime Minister Sheikh Hasina, the Executive Committee of the National...

European investors bet on Asia’s debt

European investors bet on Asia’s debt

-- 2020-09-01 15:49:27

Low yields at home are sending some previously shy European investors into Asia’s credit markets, money managers say, lured by the promise of higher returns and a hope that rebounding economies...

Inequality shows no abetting: Govt report

Inequality shows no abetting: Govt report

FHM HUMAYAN KABIR 2020-09-01 10:09:47

Bangladesh is far from reducing inequality as its disparities in social and economic sectors are growing, finds a report on a Sustainable Development Goal (SDG). Even after four years of the SDGs imp...

PTA between Bangladesh, Bhutan likely to be signed by Sept

PTA between Bangladesh, Bhutan likely to be signed by Sept

REZAUL KARIM 2020-09-01 09:52:49

Signing of a preferential trade agreement (PTA) between Bangladesh and Bhutan has been delayed further as two neighbouring countries are yet to get approval to this effect, officials said. The countr...

RMG exports again in positive territory

RMG exports again in positive territory

MONIRA MUNNI 2020-09-01 09:17:16

Bangladesh's ready-made garment (RMG) exports in August witnessed a robust 44.63 per cent growth year-on-year. The positive development came after seven months of consecutive negative growth since Ja...

Indian economy likely to see record quarterly slump as pandemic hits

Indian economy likely to see record quarterly slump as pandemic hits

-- 2020-08-31 11:05:23

India’s economy likely suffered its largest quarterly slump on record, data is expected to show on Monday, as coronavirus-related lockdowns add to already-declining consumer demand and investmen...

Private sector credit growth increases

Private sector credit growth increases

-- 2020-08-30 22:34:55

Private sector lending rate of the country has begun rising to recover from a decade-low growth after investments plunged amid the coronavirus pandemic at the end of 2019-20 fiscal year. The loans di...

Economists emphasise creativity for securing revenue earning

Economists emphasise creativity for securing revenue earning

-- 2020-08-30 14:06:37

Amid a slowdown in economic activities due to the coronavirus pandemic, noted economists have suggested the government should be more creative and tactful to get close to meeting the ambitious target...

Bangladesh economy 'narrow', dominated by RMG, remittances: ADB

Bangladesh economy 'narrow', dominated by RMG, remittances: ADB

FHM HUMAYAN KABIR 2020-08-30 09:57:53

The Asian Development Bank (ADB) has said Bangladesh's growth-induced poverty reduction would not be sustained unless it ramps up investment and diversify the economy. But the financial sector's inef...

India ready to tie up with ASEAN in generics, medical tech for fighting Covid-19

India ready to tie up with ASEAN in generics, medical tech for fighting Covid-19

-- 2020-08-29 19:08:01

India is willing to collaborate with the ten-member ASEAN in the production of generic drugs and medical technologies used for the treatment of Covid-19 patients, Commerce and Industry Minister Piyush...

UAE cancels Israel boycott, allows economic agreements

UAE cancels Israel boycott, allows economic agreements

-- 2020-08-29 16:13:17

The president of the United Arab Emirates (UAE) has issued a decree cancelling a law on boycotting Israel and allowing trade and financial agreements between the two countries, the UAE official news a...

Foreign funding for Bangladesh NGOs drops sharply

Foreign funding for Bangladesh NGOs drops sharply

Saif Uddin 2020-08-29 09:51:08

Foreign donors' commitment to NGOs operating in Bangladesh for providing them with funds through a government regulatory body has declined sharply in the last fiscal year (FY) 2019-2020 mainly due t...

AIIB approves $100m loan to Bangladesh to fight Covid-19

AIIB approves $100m loan to Bangladesh to fight Covid-19

REUTERS 2020-08-28 15:42:04

Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $100 million to Bangladesh to help the country deal with the Covid-19 pandemic. The project will be co-financed...

Recovery hopes dashed for India's recession-hit economy

Recovery hopes dashed for India's recession-hit economy

REUTERS 2020-08-28 13:07:40

India’s deepest recession on record will linger through the rest of this year and begin to lift only in early 2021 as a rapid surge in the coronavirus spread squelches a nascent rebound in consu...

Govt upbeat about 8.2pc growth

Govt upbeat about 8.2pc growth

FE REPORT 2020-08-28 09:50:25

Planning Minister M A Mannan on Thursday said the projected 8.2 per cent economic growth would be achieved in this fiscal year (FY), 2020-21, as the economy would rebound at a higher pace than earlier...

Developing nations including Bangladesh risk a lost decade: IMF   

Developing nations including Bangladesh risk a lost decade: IMF  

FE ONLINE REPORT   2020-08-27 23:36:09

Growth in low-income developing countries (LIDCs) is likely to come to a standstill this year, compared to growth of 5.0 percent in 2019, according to the International Monetary Fund (IMF). The globa...

Swiss government sees GDP turning positive in Q3

Swiss government sees GDP turning positive in Q3

Reuters 2020-08-27 16:06:32

Switzerland’s COVID-19 battered economy will return to growth in the third quarter (Q3) compared with the second quarter, a government economist said on Thursday, citing a better than expected r...

ADB unveils $11b lending plan for Bangladesh over three years

ADB unveils $11b lending plan for Bangladesh over three years

-- 2020-08-27 15:15:26

The Asian Development Bank has programmed $5.9 billion firm and $5.2 billion standby project assistance for Bangladesh in 2021-2023, according to the new Country Operations Business Plan for Banglades...

ESCAP, Switzerland to partner for disaster relief in Asia Pacific

ESCAP, Switzerland to partner for disaster relief in Asia Pacific

FE Online Desk 2020-08-27 14:25:28

The Government of Switzerland has pledged USD 300,000 in contributions for the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Multi-Donor Trust Fund for Tsunami, Disast...

'Lockdown' blow to low-income families

'Lockdown' blow to low-income families

FE Report 2020-08-27 09:29:39

About 96 per cent of families with low socio-economic status experienced a reduction in their average monthly earnings during the 'lockdown' period, a new ICDDR,B study revealed on Wednesday. It also...

US economy could degrade to "no growth at all" without Covid-19 relief bill: Economists

US economy could degrade to "no growth at all" without Covid-19 relief bill: Economists

-- 2020-08-26 15:10:52

The US economy could degrade to "no growth at all" if Congress fails to pass the next Covid-19 relief bill, two renowned American economists warned on Tuesday. "If senators still fail to resolve stal...

NBR launches EFDs to contain VAT evasion

NBR launches EFDs to contain VAT evasion

FE REPORT 2020-08-26 09:42:12

The National Board of Revenue (NBR) introduced on Tuesday the long-awaited electric fiscal devices (EFDs) on a pilot basis to check VAT evasion in businesses. NBR chairman Abu Hena Md Rahmatul Muneem...