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The Financial Express

Search results for: economy

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...

Actual budget size shrinks

Actual budget size shrinks

Jasim Uddin Haroon 2018-06-08 09:40:11

The rate of budget implementation in the country has been shrinking gradually over the years, according to government data. This implies that there is an increasing gap between the original budget...

Businesses express mixed reactions

Businesses express mixed reactions

FE Report 2018-06-08 09:35:02

The country's trade body leaders expressed mixed reactions on Thursday over the proposed budget for the next fiscal year (FY), 2018-19. Many of them were disappointed for not lowering corporate tax f...

Economists term the budget 'expansionary'

Economists term the budget 'expansionary'

FE Report 2018-06-08 09:24:49

Prominent economists of the country have termed the latest budget 'expansionary as usual'. It has been formulated keeping in mind the upcoming national election, according to their opinions. They ha...

Interest, subsidy to eat up almost 30pc of revenue budget

Interest, subsidy to eat up almost 30pc of revenue budget

FE Report 2018-06-08 09:18:30

Interest payment and subsidy will eat up almost 30 per cent of the revenue budget for the next fiscal year (FY). Finance Minister AMA Muhith proposed in his budget speech on Thursday an allocation of...

A benign and routine budget

A benign and routine budget

Shamsul Huq Zahid 2018-06-08 09:14:42

As expected, Finance Minister AMA Muhith, on Thursday, in keeping with the past trend, placed even a bigger budget for fiscal year (FY) 2018-19 that appears benign, in terms of tax proposals, and sele...

5.0pc VAT on app-based ride-sharing services

5.0pc VAT on app-based ride-sharing services

-- 2018-06-07 19:36:43

The government has slapped a five per cent VAT on app-based ride-sharing services of the country. The National Board of Revenue (NBR) has issued an SRO in this connection, reports UNB. In the SRO, t...

Inflation target 5.6pc

Inflation target 5.6pc

FE Online Report 2018-06-07 15:37:03

The government has forecasted the inflation rate at a comfortable level of 5.6 per cent in the next financial year (FY) 2018-19.As for the outgoing FY2018, the target rate was revised up to 5.8 per ce...

Govt eyes 10m registered taxpayers by FY23

Govt eyes 10m registered taxpayers by FY23

-- 2018-06-07 15:34:29

Bangladesh aims to raise the number of registered taxpayers to 10 million and increase the number of tax return filers to 8 million by the end of fiscal 2022-23. Finance Minister AMA Muhith announced...

Govt sets GDP growth at 7.8pc

Govt sets GDP growth at 7.8pc

FE Online Report 2018-06-07 15:21:41

The government has set a 7.8 per cent Gross Domestic Growth (GDP) growth target for the next financial year (FY) 2018-19, aiming to take it on the higher trajectory within next couple of years. The g...

Australia’s GDP growth jumps to 3.1pc

Australia’s GDP growth jumps to 3.1pc

-- 2018-06-07 15:11:37

Australia’s economy is growing at an annual rate of 3.1 per cent, up from 2.4 per cent three months ago, largely thanks to mining commodities exports. Strong results in the mining exports have...

Muhith placing Tk 4.64 trillion-budget

Muhith placing Tk 4.64 trillion-budget

FE Online Report 2018-06-07 13:13:34

Finance Minister AMA Muhith has been placing the last budget of this government for the fiscal year 2018-19. He started placing the Tk 4.64 trillion-plus budget before the parliament at 12:53 in the...

Plea to keep remittance inflow out of tax net

Plea to keep remittance inflow out of tax net

FE Report 2018-06-07 10:20:07

Non-resident Bangladeshis (NRBs) urged the government to keep their hard-earned money out of the tax net to encourage remittance of their earnings home. The Centre for Non Resident Bangladeshis (Cent...

BB launches term repo for banking system liquidity

BB launches term repo for banking system liquidity

Siddique Islam 2018-06-07 10:08:17

The Bangladesh Bank (BB) introduced a term repurchase agreement (repo) facility for the first time on Wednesday to ensure liquidity in the banking system. Under the term repo, the banks are allowed t...

Muhith set to place Tk 4.64 trillion budget

Muhith set to place Tk 4.64 trillion budget

FE Report 2018-06-07 09:41:04

Finance Minister AMA Muhith is set to unveil the last budget of this government today (Thursday). He is due to start placing the Tk 4.64 trillion-plus budget before Jatiya Sangsad at 12:30 in the aft...

Malaysia’s central bank governor quits

Malaysia’s central bank governor quits

-- 2018-06-06 14:47:08

Malaysian Prime Minister Mahathir Mohamad has accepted the resignation of the central bank governor, he said on Wednesday, the latest in a string of departures as the 92-year-old leader purges top off...

Non-payment of debt: Muhith slams BPC

Non-payment of debt: Muhith slams BPC

Syful Islam 2018-06-06 10:12:54

Finance Minister AMA Muhith expressed his deep annoyance at the Bangladesh Petroleum Corporation's (BPC's) failure to pay its debt to the government. "The BPC is violating both policy and rules conce...

BB asks banks to be diligent in loan disbursement

BB asks banks to be diligent in loan disbursement

FE Report 2018-06-06 09:26:21

The central bank has again directed the commercial banks to ensure that the loans they disburse are not diverted to uses other than the ones proposed originally, officials said on Tuesday. If any sor...

35 NRBs get CIP status

35 NRBs get CIP status

-- 2018-06-05 20:48:14

Thirty five Non-Resident Bangladeshis (NRB) have been given Commercially Important Person (CIP) status for their outstanding contribution in Bangladesh economy. Of them, 29 were given CIP status for...

Education, healthcare, infrastructure will get priority in budget

Education, healthcare, infrastructure will get priority in budget

-- 2018-06-05 20:27:20

Healthcare, education and infrastructure development will get priority in the national budget for the financial year 2018-19 (FY19) to achieve sustainable development goals (SDGs). “The propose...

RBA holds rates at historic low

RBA holds rates at historic low

-- 2018-06-05 13:56:25

Reserve Bank of Australia (RBA), the central bank of the country, has left interest rates unchanged at the historic low of 1.5 per cent for the 20th consecutive meeting. The RBA made the announcement...

Last budget session of 10th parliament begins 

Last budget session of 10th parliament begins 

-- 2018-06-05 13:23:01

The last budget session of the 10th parliament has begun. The session, the fifth by this parliament, began at 11:15am with Speaker Dr Shirin Sharmin Chaudhury in the chair. Finance Minister AM Muhit...

Banking commission by this month: Muhith

Banking commission by this month: Muhith

FE Report 2018-06-05 10:08:02

Finance Minister AMA Muhith said on Monday the upcoming budget will see increase in taxes in a few areas as the national election looms. "The new taxes are a very few. The rate of increase will also...

Banks' provision shortfall swells by 18pc in Q1

Banks' provision shortfall swells by 18pc in Q1

FE Report 2018-06-05 10:03:49

Overall shortfall in provision against both classified and unclassified loans in the country's banking system swelled by nearly 18 per cent or Tk 11.91 billion in the first quarter (Q1) of the current...

Call to frame Islamic banking law

Call to frame Islamic banking law

FE Report 2018-06-05 09:52:08

The government should formulate a separate law to give Islamic banking a strong legal coverage, experts said on Monday. At the same time, Islamic banks in the country should look to introduce more Sh...

No new tax in upcoming budget, Muhith assures

No new tax in upcoming budget, Muhith assures

-- 2018-06-04 20:41:04

Finance Minister Abul Maal Abdul Muhith has said the government is not imposing any new tax in the upcoming national budget. “The good news is there is a very limited increase in tax rates. Hap...

Secondary trading of t-bills, bonds drops in April

Secondary trading of t-bills, bonds drops in April

FE Online Report 2018-06-04 18:52:14

Secondary trading of the treasury bills (t-bills) and treasury bonds (t-bonds) declined sharply in the month of April this year. Central bank statistics showed that total turnover of t-bills and t-bo...

Inflation rate drops slightly in May

Inflation rate drops slightly in May

FE Online Report 2018-06-04 16:54:21

The point-to-point inflation rate in the last month dropped to 5.57 per cent compared to that of 5.63 per cent in the previous month April, official data showed. Bangladesh Bureau of Statistic (BBS)...

Philippine inflation likely rise again

Philippine inflation likely rise again

-- 2018-06-04 14:11:28

Philippine inflation likely accelerated for the fifth straight month in May, a Reuters poll showed, but analysts were divided over when the central bank will again raise interest rates. The median...

Q1 NPLs jump by 19pc to Tk 885.89b

Q1 NPLs jump by 19pc to Tk 885.89b

FE Report 2018-06-04 12:11:48

The volume of classified loans in the banking system jumped by more than 19 per cent or Tk 142.86 billion in the first quarter (Q1) of 2018 despite the central bank's close monitoring. The amount of...