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‘BD economy shows signs of positive growth despite global recession’

‘BD economy shows signs of positive growth despite global recession’

-- 2020-08-13 18:47:35

Bangladesh might be one of only two ASEAN and South Asian economies to register positive growth in 2020 when the world is almost certainly bound to a devastating recession caused by the coronavirus pa...

In China, fears of financial Iron Curtain as US tensions rise

In China, fears of financial Iron Curtain as US tensions rise

REUTERS 2020-08-13 15:02:02

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect...

German cos see business returning to normal in 11 months

German cos see business returning to normal in 11 months

Reuters 2020-08-13 14:50:39

German companies expect business to return to normal in an average of 11 months, the Ifo economic institute said on Thursday. For companies in the services sector, that number is even higher, at 11.7...

Chinese banks expected to dispose $490 billion of bad loans in 2020

Chinese banks expected to dispose $490 billion of bad loans in 2020

-- 2020-08-13 13:57:09

China’s banking industry is expected to dispose 3.4 trillion yuan ($489.91 billion) of bad loans in 2020 to contain financial risks in an economy weakened by Covid-19, according to a Xinhua repo...

Australian unemployment hits 22-year high

Australian unemployment hits 22-year high

-- 2020-08-13 12:26:56

The number of unemployed Australians actively looking for work has surpassed 1.0 million for the first time. According to data released by the Australian Bureau of Statistics (ABS), which is in Canbe...

July revenue collection falls 22pc

July revenue collection falls 22pc

Doulot Akter Mala 2020-08-13 10:17:20

The overall revenue collection fell by 22.07 per cent to only Tk 123.34 billion in July last, the first month of the current fiscal year (FY), as compared to that of the same month of last year, accor...

Japan confirms largest ever loan package of US$ 3.15b for BD

Japan confirms largest ever loan package of US$ 3.15b for BD

FE Online Report 2020-08-12 16:28:39

Japan on Wednesday confirmed largest ever loan package of US$ 3.15 billion for Bangladesh to bankroll seven development projects in the country, officials said. Under the 41st Official Development As...

US businesses not leaving Chinese market amid pandemic: Survey

US businesses not leaving Chinese market amid pandemic: Survey

-- 2020-08-12 13:39:42

US businesses are not leaving the Chinese market despite "an unprecedented downturn" in US-China relations during the COVID-19 pandemic, according to an annual member survey released Tuesday by the US...

UK officially in recession for first time in 11 years

UK officially in recession for first time in 11 years

-- 2020-08-12 12:45:48

The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession. The economy shrank 20.4 per cent compared wit...

Investment-GDP ratio increases slightly in FY20

Investment-GDP ratio increases slightly in FY20

FE Online Report 2020-08-12 12:30:54

Country’s total investment in terms of Gross Domestic Product (GDP) increased modestly in the last fiscal year (FY20) ended on June 30, 2020. The provisional estimate of GDP, released by Bangla...

Govt fortifying BIDA to be investment-friendly

Govt fortifying BIDA to be investment-friendly

JASIM UDDDIN HAROON and REZAUL KARIM 2020-08-12 09:48:15

The government is strengthening the Bangladesh Investment Development Authority (BIDA) to make it is more sophisticated and investment-friendly. As part of reinforcing the investment promotion agency...

Kamal happy with GDP growth, per capita income attained in FY20

Kamal happy with GDP growth, per capita income attained in FY20

-- 2020-08-11 21:57:09

Finance Minister AHM Mustafa Kamal has expressed his satisfaction at the 5.24 per cent GDP growth rate and $2,064 per capita income attained by the country in the last fiscal year (FY20). Kamal expre...

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

FE ONLINE REPORT 2020-08-11 19:54:22

Indian High Commissioner in Dhaka, Riva Ganguly Das on Tuesday, said the excellent state of India- Bangladesh bilateral relations and the recent connectivity initiatives taken by both the countries in...

GDP growth rate reaches 5.24pc in FY20: BBS

GDP growth rate reaches 5.24pc in FY20: BBS

-- 2020-08-11 17:49:12

The GDP growth rate of Bangladesh has reached 5.24 per cent in the last fiscal year (FY20) despite the impact of coronavirus pandemic while the per capita income increased to $2,064, according to the...

UK suffers biggest job losses since 2009

UK suffers biggest job losses since 2009

Reuters 2020-08-11 13:58:06

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s...

BD economy grew 5.24pc in FY20 amid pandemic

BD economy grew 5.24pc in FY20 amid pandemic

-- 2020-08-11 13:39:15

Bangladesh has reported 5.24 per cent GDP growth in FY 2019-20 with the coronavirus pandemic ravaging the economy for at least a third of the financial year. The size of the GDP stood past Tk 27.96 t...

Singapore narrows 2020 GDP growth forecast

Singapore narrows 2020 GDP growth forecast

-- 2020-08-11 11:41:17

Singapore's Ministry of Trade and Industry (MTI) has announced that it narrowed the gross domestic product (GDP) growth forecast for 2020 to "-7 to -5 per cent" from "-7 to -4 per cent." The ministry...

Move to devise ways of stemming ADP leakage

Move to devise ways of stemming ADP leakage

FHM HUMAYAN KABIR 2020-08-11 09:30:47

The government is going to tighten its belt by reining in inflated costs and irregularities in development projects, officials said on Monday. The planning minister MA Mannan will sit with all secret...

Corona brings chance for digitalisation   

Corona brings chance for digitalisation  

FE REPORT 2020-08-11 09:26:46

Speakers at a dialogue on Monday said Covid-19 crisis puts unprecedented strains on markets, governments, businesses and individuals, but simultaneously it has brought opportunities for digitalisation...

Interest rate spread drops slightly to 2.89pc in June

Interest rate spread drops slightly to 2.89pc in June

Siddique Islam 2020-08-11 09:23:52

Interest rate spread in the country's banking system fell slightly in June, as banks slashed interest rates on lending more than on deposit. The weighted average spread between lending and deposit...

Huawei starts Seeds for the Future 2020 to develop ICT talent in BD

Huawei starts Seeds for the Future 2020 to develop ICT talent in BD

FE Online Desk 2020-08-10 23:59:58

Huawei Technologies (Bangladesh) Limited has inaugurated its annual program of ‘Seeds for the Future 2020 in Bangladesh’. The inauguration ceremony was held virtually on August 10 and at...

90pc branches of banks fully online now

90pc branches of banks fully online now

FE Online Report 2020-08-10 17:17:40

At least 90 per cent branches of the country’s commercial banks are now fully online, according to the latest statistics of the central bank. It showed that the total number of branches of 59 s...

ADB, UNDP sign deal to boost disaster recovery in Asia Pacific

ADB, UNDP sign deal to boost disaster recovery in Asia Pacific

-- 2020-08-10 17:00:49

The Asian Development Bank (ADB) and United Nations Development Programme (UNDP) have signed an agreement to strengthen disaster recovery capacity in selected countries across Asia and the Pacific. T...

India to promote manufacturing of selected products to boost market share

India to promote manufacturing of selected products to boost market share

Reuters 2020-08-10 15:19:46

India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market, as part of efforts to reduce imports and push...

Vietnam's wood, woodwork export up in seven months

Vietnam's wood, woodwork export up in seven months

-- 2020-08-10 13:35:00

Vietnam exported nearly 6.1 billion US dollars of wood and wood-based products in the first seven months of this year, up 6.2 per cent against the same period last year, according to the Vietnam Admin...

Call for bigger budget for health sector

Call for bigger budget for health sector

FE REPORT 2020-08-10 09:54:18

Experts on Sunday sought increased budget allocation for health sector, strict implementation of hygiene guidelines and adaptation with the changed lifestyle in the wake of virus pandemic. They highl...

New forex law: Investors may get timely services

New forex law: Investors may get timely services

FE REPORT 2020-08-10 09:34:19

The government is mulling over incorporating time-bound services into the proposed foreign exchange law to attract potential overseas investors, said officials at the financial institutions division....

63.0pc of private foreign debt short-term

63.0pc of private foreign debt short-term

FE Online Report 2020-08-09 21:13:21

Around 63.0 per cent of the foreign borrowing of the country’s private sector is short-term in nature, according to the statistics released by the central bank. It showed that the outstanding p...

BB asks banks to open deposit accounts for NRBs

BB asks banks to open deposit accounts for NRBs

FE ONLINE REPORT 2020-08-09 16:31:43

The central bank has asked scheduled banks to introduce deposit accounts for non-resident Bangladeshis (NRBs) to encourage these people, who are working aboard, in saving their hard-earned money in Ba...

BD seeks $2.5b as budget support, project aid from WB for FY'21

BD seeks $2.5b as budget support, project aid from WB for FY'21

FHM HUMAYAN KABIR 2020-08-09 10:11:46

Bangladesh has sought a fund of US$ 2.5 billion from the World Bank (WB) to finance 15 different projects and programmes in the current fiscal year (FY 2020-21), officials said on Saturday. "We hav...