The Financial Express

Search results for: economy

UK economy shows biggest drop in 40 years in early 2020

Reuters 2020-06-30 13:51:07

Britain’s economy shrank by the most since 1979 in early 2020 as households slashed their spending, according to official data that included the first few days of the coronavirus lockdown. Gros...

Govt eases rules to park untaxed money in stocks

-- 2020-06-29 18:50:26

The Finance Bill for fiscal year 2020-21 has reduced the lock-in period for investments of undisclosed income in stocks to 1 year from proposed 3 years in a bid to boost the fund flow into the flaggin...

Vietnam's H1 GDP growth lowest in 10 years

-- 2020-06-29 16:18:02

Vietnam's gross domestic product (GDP) grew 1.81 per cent in the first half of this year, the lowest six-month growth rate in the 2011-2020 period, the General Statistics Office said on Monday. Betwe...

Australia's golden economy faces long road to virus recovery

REUTERS 2020-06-29 10:30:18

Coronavirus has done to Australia what even the global financial crisis couldn’t: abruptly end a record growth run and help trigger a deep recession from which the country will take time to reco...

EPB moots $37 billion export target

MONIRA MUNNI 2020-06-29 09:35:29

The Export Promotion Bureau (EPB) has proposed setting a $37.44-billion export target for fiscal year (FY) 2020-21, predicting 13-per cent growth, officials said. The EPB has also projected an additi...

Whitening black money: Others abuse fish farmers’ tax benefit

Doulot Akter Mala 2020-06-29 09:29:19

A vested quarter is allegedly legalising their black money by taking advantage of the tax benefit meant for the fish farmers. Fish farmers have alleged that despite having no such business, some peop...

BD seeks $6.4b Chinese fund for new projects

MIR MOSTAFIZUR RAHAMAN 2020-06-29 09:19:18

Bangladesh now wants Chinese funds for nine new projects worth US$ 6.4 billion. The Economic Relations Division has recently sent a letter to the Chinese government seeking investment fund for these...

BUILD seeks corporate tax cut for all export sectors

FE Report 2020-06-28 10:18:07

Business Initiative Leading Development (BUILD) has demanded reducing corporate tax for all the export-oriented sectors in the upcoming fiscal year (FY). It urged the government to consider the leath...

IMF says virus crisis could ultimately test $1.0t war chest

REUTERS 2020-06-27 14:08:18

International Monetary Fund Managing Director Kristalina Georgieva said on Friday that the global economic crisis spurred by the coronavirus could ultimately test the Fund’s $1.0 trillion in tot...

Malaysian PM calls for ASEAN "travel bubbles" to boost economy

-- 2020-06-27 12:54:34

Malaysian Prime Minister Muhyiddin Yassin has called on fellow countries of the Association of Southeast Asian Nations (ASEAN) for "travel bubbles" to counter the economic slump caused by Covid-19. I...

Amendment to VAT rebate provision likely

DOULOT AKTER MALA 2020-06-27 10:02:22

Two major fiscal measures regarding Value Added Tax or VAT may be revised in the Finance Bill, after widespread criticism. The measures include input credit on the basis of consumption and depositing...

Govt liabilities could climb 56pc in FY'21

FE REPORT 2020-06-27 09:39:48

The government liabilities are expected to jump by 56 per cent at the end of June 2021, according to the annual financial statement. The document shows that total liabilities will stand at Tk. 3.36 t...

Jobless recovery might put progress of last decade at risk: Study

-- 2020-06-26 18:42:08

Job creation and inclusive growth must be the centrepiece of the recovery strategy amid the coronavirus outbreak otherwise jobless recovery might put the progress of the past decade at risk, said a st...

Revenue collection rises in May, but well below target

-- 2020-06-26 17:16:53

The government’s revenue collection increased to Tk 134.53 billion in May, but the amount was less than half of the target as the coronavirus crisis continues to ravage the economy. The revised...

Disconnect between financial markets, real economy could pose threat to recovery, warns IMF

-- 2020-06-26 10:38:38

The International Monetary Fund (IMF) warned Thursday that the ongoing disconnect between financial markets and the real economy is a "vulnerability," which could pose a threat to the recovery should...

Banks can give loans in phases in three years

FE REPORT 2020-06-26 09:46:51

The central bank has relaxed guidelines, allowing scheduled banks and non-bank financial institutions (NBFIs) to provide loans under the financial stimulus package to large industries and services in...

BB asked to simplify repatriation of foreign investment, profit

SYFUL ISLAM 2020-06-26 09:44:21

The government has moved to simplify the repatriation process of foreign investment and profit by removing the existing barriers for attracting the businesses being relocated by the global conglomerat...

Bangladeshis’ deposits in Swiss banks decline

FE REPORT 2020-06-26 09:32:08

Money deposited by Bangladeshis in Swiss banks fell slightly in 2019, according to the latest data released in Zurich on Thursday. The annual report of the Swiss National Bank or SNB titled 'Banks in...

Unilever to rebrand ‘Fair & Lovely’; new brand name to be announced after approval

FE Online Desk 2020-06-25 16:40:21

Unilever Bangladesh Limited (UBL) announced on Thursday the next step in the evolution of its skin care portfolio, with the rebranding of its flagship brand Fair & Lovely. Taking forward the brand...

Canada's natural resources real GDP declines in first quarter

-- 2020-06-25 13:51:04

Real gross domestic product (GDP) of Canada's natural resources sector was down 0.4 per cent in the first quarter of 2020, the third consecutive quarterly decline, Statistics Canada said Wednesday. T...

13pc people lost jobs due to Covid-19 pandemic: Survey

UNB 2020-06-25 11:48:15

About 13 per cent people have become unemployed in the country due to Covid-19 pandemic, according to a survey of Bangladesh Institute of Development Studies (BIDS). The survey titled “Coping w...

South Africa's debt grows into hippo 'eating our children's inheritance'

REUTERS 2020-06-25 10:52:49

South Africa’s budget deficit will be the highest in the post-apartheid era, and the finance minister warned in his emergency budget speech on Wednesday that debt had become a hippo eating their...

India to invest $121.27m more for Shwe oil and gas project in Myanmar

-- 2020-06-25 10:08:16

The Indian government has approved a proposal for an additional 121.27 million US dollar investment to be made by ONGC Videsh Ltd (OVL) in the development of an oil and gas project in Myanmar. The de...

Safety net outlay goes up substantially for FY '21

FE REPORT 2020-06-25 09:32:10

The government has substantially increased the allocation on the social safety net programmes mainly due to supporting the coronavirus affected people. It allocated Tk. 955.74 billion or nearly 17 pe...

ADB retains top position in aid transparency index

-- 2020-06-24 22:59:59

The Asian Development Bank (ADB) retained its first place ranking in the 2020 Aid Transparency Index (ATI), an independent measurement of aid transparency released on Wednesday at the Brookings Instit...

Global economy could shrink 4.9pc this year: IMF

FE ONLINE DESK 2020-06-24 21:08:41

The International Monetary Fund has projected that global economy could shrink 4.9 per cent in 2020 due to COVID-19 pandemic, 1.9 percentage points below than its previous forecast. IMF’s World...

Putin proposes differentiated income tax rate

-- 2020-06-24 14:25:34

Russian President Vladimir Putin has proposed canceling the current flat income tax rate and introducing differentiated tax for richer people with the proceeds to be channeled for the treatment of chi...

Forex reserve crosses $35 billion mark for first time

FE ONLINE REPORT 2020-06-24 13:42:54

Bangladesh’s foreign exchange (forex) reserve on Wednesday crossed the US$35 billion-mark -- for the first time in its history, following lower import payment obligations and steady growth of in...

BD gets $500m WB loan to improve road connectivity

FE ONLINE REPORT 2020-06-24 12:48:24

The World Bank (WB) has approved 500 million US dollar to help Bangladesh improve road connectivity along the Jashore-Jhenaidah corridor covering four western districts. “The western region of...

Tax raise on damages for acquired land likely

FE REPORT 2020-06-24 10:32:31

Income tax on the compensation amount of immovable properties acquired by the government is likely to be tripled in the upcoming fiscal year. In the proposed Finance Bill-2020, the rate of Advance In...