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The Financial Express

Search results for: economy

China to launch $47b fund for investment in SEI

China to launch $47b fund for investment in SEI

-- 2018-06-12 14:37:03

China’s state planner said on Tuesday it would jointly launch with China Construction Bank 300 billion yuan ($46.88 billion) worth of funds for investment in Strategic Emerging Industries (SEI...

IBFB for  independent body to monitor budget implementation

IBFB for independent body to monitor budget implementation

FE Online Desk 2018-06-12 12:31:11

  The International Business Forum of Bangladesh (IBFB) on Monday demanded the government allocate 55 per cent of the budget outlay to the development sector and the rest as the revenue expendit...

Imports up 15pc in ten months

Imports up 15pc in ten months

Siddique Islam 2018-06-12 10:15:30

Overall imports grew by over 15 per cent in the first 10 months of this fiscal year (FY), mainly due to higher import of food grains and fuel oils, officials said. The settlement of letters of credit...

Revenue receipts likely to rise 22-25pc in FY 18: NBR

Revenue receipts likely to rise 22-25pc in FY 18: NBR

FE Report 2018-06-12 10:05:42

The tax revenue collection may record 22 to 25 per cent growth in the outgoing fiscal year (FY), 2017-18, the National Board of Revenue (NBR) chairman Md Mosharraf Hossain Bhuiyan has said. The colle...

Pension payments to double next fiscal

Pension payments to double next fiscal

Jasim Uddin Haroon 2018-06-12 09:48:51

The country's pension payment is expected to double in the next fiscal year (FY), the latest budget documents show. The payout is estimated to be over Tk 260 billion, twice the size of the 2018 fisca...

Inadequate allocation for agriculture irks rights groups   

Inadequate allocation for agriculture irks rights groups  

FE Online Report   2018-06-11 21:14:15

Rights groups have expressed their disappointment over ‘inadequate’ allocation for the agricultural sector in the proposed budget for fiscal year 2018-19. They also urged the government...

Parliament passes supplementary budget

Parliament passes supplementary budget

-- 2018-06-11 16:36:26

The parliament has passed the supplementary budget of Tk 153.398 billion for the fiscal 2017-18 to meet the increased expenditures under different ministries and divisions. Finance Minister AMA Muhit...

Japan's machinery orders up 10.1pc in April

Japan's machinery orders up 10.1pc in April

-- 2018-06-11 12:46:14

Japan's core private-sector machinery orders increased 10.1 per cent in April from a month earlier, the government said in a report on Monday. According to the Cabinet Office, the orders, excluding...

Amend budget to make it job-focused

Amend budget to make it job-focused

FE Report 2018-06-11 11:27:57

Speakers at a discussion on Sunday stressed the need for amending the proposed budget for the next fiscal year (FY) to make it employment-focused. They also emphasised the importance of turning the b...

BB allows FCBs to remit shares of head office expenses

BB allows FCBs to remit shares of head office expenses

FE Report 2018-06-11 10:26:31

Foreign commercial banks (FCBs) operating in Bangladesh are allowed to remit the shares of expenses at their head offices without the central bank's prior approval. "The FCBs will be able to remit su...

PM seeks partnership among G7, vulnerable countries on blue economy

PM seeks partnership among G7, vulnerable countries on blue economy

-- 2018-06-10 20:30:41

Prime Minister Sheikh Hasina Sunday sought partnership of G7 countries with vulnerable countries for sustainable management and protection of marine and coastal ecosystem. “Partnership between...

Pre-polls tension could weigh on economy: IMF

Pre-polls tension could weigh on economy: IMF

FE Report 2018-06-10 11:30:16

The International Monetary Fund (IMF) has projected a 7.0 per cent economic growth for Bangladesh in the next fiscal year (FY), 2018-19. The growth projection is 0.80 percentage points lower than the...

Land acquisition a new problem area for RHD

Land acquisition a new problem area for RHD

Munima Sultana 2018-06-10 10:55:04

Money paid as compensation for acquiring private land now eats up the most part of cost of projects belonging to the Roads and Highways Department (RHD). The recent hike in the official rate of compe...

Monitor mega-projects strictly before polls: SANEM

Monitor mega-projects strictly before polls: SANEM

FE Report 2018-06-10 10:51:59

A think-tank has called for strict monitoring of ongoing mega projects ahead of the national elections. "Instead of focusing on spending, we need to focus on the quality of the projects," said the he...

BD’s outbound investment more than triples

BD’s outbound investment more than triples

FE Report 2018-06-10 10:21:31

The outflow of foreign direct investment (FDI) from Bangladesh to other countries surged by more than three times in a year. The outward flow means Bangladeshi business entities or Bangladesh-based m...

Economic growth to fall short of target: IMF

Economic growth to fall short of target: IMF

FE Online Report 2018-06-09 19:31:53

The International Monetary Fund (IMF) has forecasted a slightly lower per cent of economic growth than the government target for the upcoming fiscal year 2018-19 (FY19) The IMF projected a 7.0 per c...

Tofail says the budget will help the poor also

Tofail says the budget will help the poor also

-- 2018-06-09 18:12:43

Commerce Minister Tofail Ahmed on Saturday said the proposed budget will benefit everyone, rich and poor. Tofail said it while speaking as the chief guest of a zakat distribution ceremony in Sadar u...

FBCCI for stern action against loan defaulters

FBCCI for stern action against loan defaulters

FE Online Report 2018-06-09 15:57:59

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday demanded strict punishment against those involved in misappropriating bank loans. The apex trade body, at the same...

Reduction of highest layer of VAT rate to facilitate growth of economy: BUILD

Reduction of highest layer of VAT rate to facilitate growth of economy: BUILD

FE Online Desk 2018-06-09 14:07:15

BUILD, a private think-tank said announcement on reduction of the highest layer of VAT rate will bring positive results to facilitate the growth of Bangladesh economy, said a statement. "The Financ...

China's May CPI up 1.8pc y/y

China's May CPI up 1.8pc y/y

-- 2018-06-09 13:24:08

China's consumer price index, a main gauge of inflation, rose 1.8 per cent year on year in May, the same as the CPI growth in April, data from the National Bureau of Statistics (NBS) showed Saturday...

BD needs to boost productive investment: IMF

BD needs to boost productive investment: IMF

-- 2018-06-09 11:35:16

Bangladesh will need to boost productive investment by addressing infrastructure bottlenecks and strengthening the banking sector to keep ongoing momentum unhurt, the IMF said in its annual assessment...

CPD opposes corporate tax cut for banks, FIs

CPD opposes corporate tax cut for banks, FIs

FE Report 2018-06-09 10:15:50

A think-tank has opposed the new budgetary proposal for slashing the corporate tax rate of banks and financial institutions (FIs). Such a move, the Centre for Policy Dialogue (CPD) said can no way he...

FICCI finds budget 'highly challenging'

FICCI finds budget 'highly challenging'

FE Report 2018-06-09 10:11:00

The Foreign Investors' Chamber of Commerce and Industry (FICCI) has termed the proposed national budget for the next fiscal year (FY), 2018-2019, 'highly challenging'. In a post-budget reaction on Fr...

Continuation of  tax-free threshold disappoints MCCI

Continuation of tax-free threshold disappoints MCCI

FE Report 2018-06-09 00:48:28

Attaining the increased revenue target for the new fiscal will continue to be a major challenge, despite a rise in the number of tax payers, said a leading chamber. The National Board of Revenue (NBR...

Muhith hopes to achieve budget targets

Muhith hopes to achieve budget targets

-- 2018-06-08 19:46:54

Finance Minister Abul Maal Abdul Muhith has said all targets set in the proposed budget for next fiscal year (2018-19) are achievable. “Whenever we place a budget, then we definitely place it a...

'VAT proposal on online shopping a printing mistake'

'VAT proposal on online shopping a printing mistake'

-- 2018-06-08 16:20:57

The proposal to impose 5 per cent value added tax (VAT) on online shopping was printed mistakenly on the script of finance minister's budget speech. Chairman of National Board of Revenue (NBR) Md Mos...

Philippine total trade grows 8.8pc in April

Philippine total trade grows 8.8pc in April

-- 2018-06-08 15:19:05

The Philippines' total external trade in goods in April totaled $13.84 billion, posting a growth of 8.8 per cent from $12.73 billion recorded in April 2017, the Philippine Statistics Authority (PSA)...

Budget lacks clarity about source of fund: CPD

Budget lacks clarity about source of fund: CPD

-- 2018-06-08 13:15:50

The Centre for Policy Dialogue (CPD) says the proposed budget lacks clarity about the source of fund and expenditure. It termed the projected revenue unrealistic and pointed out that there is no clea...

Argentina reaches $50b bailout deal with IMF

Argentina reaches $50b bailout deal with IMF

-- 2018-06-08 10:35:29

The International Monetary Fund has agreed to lend Argentina up to $50 billion as the country seeks to bolster its struggling economy. The three-year agreement must still be approved by the IMF board...

Budgetary deficit to soar by 12pc

Budgetary deficit to soar by 12pc

FE Report 2018-06-08 09:56:04

The overall budget deficit is set to widen by nearly 12 per cent in Fiscal Year (FY) 2018-19 as the government's expenditures will exceed revenue income. The deficit is estimated at Tk 1.25 trillion...