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The Financial Express

Search results for: economy

Annual export to Canada crosses $1.10b again

Annual export to Canada crosses $1.10b again

FE Online Report 2018-07-13 15:46:06

Merchandise export to Canada from Bangladesh crossed $1.10 billion in the past fiscal year. Statistics available with the Export Promotion Bureau (EPB) showed that the export reached at $1.118 bill...

Peru's c bank holds rate again

Peru's c bank holds rate again

-- 2018-07-13 14:40:13

Peru’s central bank held the benchmark interest rate at 2.75 per cent for the fifth consecutive month on Thursday as expected. Citing recovering inflation and signs of more dynamic economic act...

Current account deficit crosses $9.0b in 11 months

Current account deficit crosses $9.0b in 11 months

FE Report 2018-07-13 10:04:45

The country's current account deficit crossed $ 9.0 billion in the first eleven months of the fiscal year just gone by, the central bank said. Bangladesh Bank data showed that the current account def...

Govt’s bank borrowing balloons as ADP execution revs up

Govt’s bank borrowing balloons as ADP execution revs up

Siddique Islam 2018-07-13 09:47:54

The government's net borrowing from the banking system marked an abrupt jump in the last week of June, driven by demand from development projects. Such borrowing was at a negative level, amounting to...

FY '18 foreign aid flow up by 66pc

FY '18 foreign aid flow up by 66pc

FHM Humayan Kabir 2018-07-13 09:38:32

The flow of foreign aid into Bangladesh surged by a whopping 66 per cent to a record US$6.12 billion during the last fiscal year (FY), the government said. During FY 2016-17, foreign development part...

Canada raises interest rate amid trade row

Canada raises interest rate amid trade row

-- 2018-07-12 13:11:11

The Bank of Canada announced Wednesday it was raising the benchmark interest rate from l.25 per cent to 1.5 per cent, partly due to rising trade tensions with the United States. The US has been pre...

US firms in China mostly oppose tariffs, survey shows

US firms in China mostly oppose tariffs, survey shows

-- 2018-07-12 12:07:42

Most US businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights, a survey s...

BR announces start of Padma Rail project work

BR announces start of Padma Rail project work

Munima Sultana 2018-07-12 10:04:34

The Bangladesh Railway (BR) formally announced the commencement of Padma Rail Link project two months after signing a loan deal with China. The announcement came after meeting all the conditions atta...

BPDB, GE sign deal for Moheshkhali power plant

BPDB, GE sign deal for Moheshkhali power plant

-- 2018-07-11 19:09:37

The Bangladesh Power Development Board has signed a deal with General Electric to build a 3,600MW LNG-based power plant in Moheshkhali of Cox's Bazar. The memorandum of understanding was signed in Dh...

US threatens tariffs on another $200b of Chinese goods

US threatens tariffs on another $200b of Chinese goods

-- 2018-07-11 12:48:50

The Trump administration raised the stakes in its trade dispute with China, threatening 10 per cent tariffs on a list of $200 billion worth of Chinese imports, sending stocks lower and prompting Beiji...

BD leading global push to get transitional benefits

BD leading global push to get transitional benefits

Mehdi Musharraf Bhuiyan 2018-07-11 10:21:39

Bangladesh is leading a global push for getting the LDC-related benefits for the nations that are set to graduate to a developing country status in the coming years. The country is set to co-host an...

BB faces tough task to lower inflation after spike

BB faces tough task to lower inflation after spike

FE Report 2018-07-11 09:27:54

The central bank may face a challenge to bring down the average annual inflation to 5.6 per cent in the current fiscal year (FY) after it exceeded the target in the last fiscal. The average annual in...

China-BD exhibition centre gets ECNEC nod

China-BD exhibition centre gets ECNEC nod

FE Online Report 2018-07-10 20:10:09

The China-Bangladesh exhibition centre at Purbachal in Dhaka was finally approved by ECNEC of Tuesday, nine years after its preliminary initiative in 2009.    The total cost of the “B...

China pledges $20b to revive Mideast economy

China pledges $20b to revive Mideast economy

-- 2018-07-10 13:43:16

Chinese President Xi Jinping has pledged a package of $20 billion (15.12 billion pounds) in loans, and about $106 million in financial aid, to Middle East nations. The president on Tuesday pledged...

Philippines' trade deficit rises in May

Philippines' trade deficit rises in May

-- 2018-07-10 12:53:41

The trade deficit of Philippines rose to five-month high in May as exports shrunk while imports continued to grow, although at a slower annual pace, the statistics agency said. The imports of the Sou...

Bangladesh Bank for 'growth supportive' MPS

Bangladesh Bank for 'growth supportive' MPS

Siddique Islam 2018-07-10 10:21:07

The central bank has started preparations to formulate its next monetary policy, giving top priority to curb the rising trend of inflation and help the productive sectors achieve maximum economic grow...

Current account deficit threatens macro stability

Current account deficit threatens macro stability

FE Report 2018-07-10 09:46:30

A sizeable current account deficit along with changing global and domestic liquidity conditions has made the management of macro-financial stability challenging. Identifying the challenge, the centra...

China June FX reserves unexpectedly  rise amid trade war fears

China June FX reserves unexpectedly rise amid trade war fears

-- 2018-07-09 10:54:17

China’s foreign exchange reserves unexpectedly rose in June, driven by changes in the value of its holdings and even as concerns of a full-blown trade war between Beijing and the Washington ratt...

Audit exemption only if income is 15pc higher

Audit exemption only if income is 15pc higher

Doulot Akter Mala 2018-07-09 09:42:58

No taxpayer will be able to get exemption from any audit by showing only a gross increase in the annual income compared to that of the previous year, according to a new guideline. Taxpayers now will...

BR earnings rise, but many targets unmet

BR earnings rise, but many targets unmet

Munima Sultana 2018-07-09 09:36:18

The state-owned Bangladesh Railway (BR) missed the annual targets set at the start of fiscal year (FY) 2017-18, official sources said. With an average income of Tk 7.5 million (75 lakh) per month, it...

Jobless growth a troublesome matter: Muhith

Jobless growth a troublesome matter: Muhith

-- 2018-07-08 21:30:50

The economy is struggling with a worrisome issue which is jobless growth, said a senior minister on Sunday. “The country is facing a big problem, which is jobless growth,” said Finance Mi...

Rooppur NPP: Construction work of second unit starts on July 14

Rooppur NPP: Construction work of second unit starts on July 14

FE Report 2018-07-08 10:38:05

The construction work of the second unit of the Rooppur Nuclear Power Plant (RNPP) is scheduled to start on July 14, officials said. Prime Minister Sheikh Hasina is expected to inaugurate the 'first...

Oil stays mixed as investors short-cover, Saudi Arabia boosts production

Oil stays mixed as investors short-cover, Saudi Arabia boosts production

-- 2018-07-07 21:13:16

NEW YORK, Jul 07 (Reuters): Oil was mixed on Friday, with short-covering pushing up US crude futures while Brent slipped on global trade tensions and increased Saudi production.West Texas Intermediate...

Export of jute, jute goods witness steady growth

Export of jute, jute goods witness steady growth

-- 2018-07-07 19:39:28

Export of jute and jute products has maintained a steady growth as the country exported jute and jute goods worth $1.02 billion in fiscal year 2017-18 (FY18), up 6.56 per cent from $962.4 million in f...

India’s Forex reserves up by $24.34b in H2 FY18

India’s Forex reserves up by $24.34b in H2 FY18

-- 2018-07-07 15:58:47

India's foreign exchange reserves increased by $24.34 billion to $424.55 billion as of end March 2018 from $400.21 billion as of end September 2017, Reserve Bank of India (RBI) said. During Septe...

H1 outbound jobs nosedive by 25pc

H1 outbound jobs nosedive by 25pc

Arafat Ara 2018-07-07 09:29:04

The number of Bangladeshi workers going abroad with jobs dropped by about 25 per cent in the first half (H1) of the current calendar year (2018) compared to that in the corresponding period of the pre...

NBR seeks income tax information of private sector employees

NBR seeks income tax information of private sector employees

-- 2018-07-06 17:16:15

The National Board of Revenue (NBR) has taken a move to collect income tax information of private sector employees every year. The revenue collecting authority plans to plug the loopholes of tax evas...

FDI in LatAm drops for third straight year

FDI in LatAm drops for third straight year

-- 2018-07-06 13:59:42

The foreign direct investment (FDI) in Latin America overall dropped in 2017 for the third straight year despite the stronger global growth, according to a United Nations agency in Mexico city on Thur...

BD pays $1.27b to ACU for May-June imports

BD pays $1.27b to ACU for May-June imports

Siddique Islam 2018-07-06 11:17:00

Bangladesh has made a routine payment of US$ 1.27 billion to the Asian Clearing Union (ACU) against the imports during May-June period of this calendar year, officials said. After the payment, the co...

Economic zones, hi-tech parks to help create ‘12m jobs by 2030’

Economic zones, hi-tech parks to help create ‘12m jobs by 2030’

FE Report 2018-07-06 10:43:00

The government set its sight on creating 12 million (1.2 crore) jobs by 2030 through economic zones and hi-tech parks, speakers said at a workshop on Thursday. The workshop on 'development and cooper...