The Financial Express

Search results for: economy

Experts term proposed budget ‘unrealistic and fictional’

FE Online Report 2020-06-17 19:53:55

Experts term proposed budget ‘unrealistic and fictional’ Experts at a post-budget meeting on Wednesday, termed the proposed budget ‘most unrealistic’ a...

British inflation hits four-year low

-- 2020-06-17 16:20:59

British inflation fell to its lowest since June 2016 last month as the coronavirus pandemic sucked demand from the global economy and oil prices tumbled. Consumer price inflation slowed to 0.5 per ce...

Major dev projects need special allocation to tackle Covid-19

MUNIMA SULTANA 2020-06-17 10:38:39

An allocation has been necessary to prevent the spread of coronavirus on the construction sites of major development projects including mega and fast-track ones aiming to keep the progress of those up...

Proposed budget traditional: IBFB

FE REPORT 2020-06-17 10:27:25

The International Business Forum of Bangladesh (IBFB) has termed the proposed budget as usual one at an unusual time. "We did not get a budget we expected during the corona virus crisis period. It's...

SC stays most of the HC directives on treatment of non-Covid patients

FE REPORT 2020-06-17 10:12:14

The Appellate Division of the Supreme Court on Tuesday mostly stayed a High Court order that said if any government or private hospital or clinic shows any medical negligence to any serious patient...

NBR may target private staffers' nest egg

Doulot Akter Mala 2020-06-17 09:27:17

Private sector employees, who have received gratuity as retirement benefit in the outgoing fiscal year, may have to pay taxes on it. The National Board of Revenue or NBR has imposed taxes on retirees...

Global FDI to contract by 40pc this year: UNCTAD

-- 2020-06-16 16:25:01

Global foreign direct investment (FDI) flows are forecast to decrease by up to 40 per cent in 2020, and further by 5 to 10 per cent in 2021, before recovering in 2022, said a United Nations report Tue...

South Korea's foreign currency deposit keeps rising for three months

-- 2020-06-16 13:59:03

South Korea's foreign currency deposit kept rising for three straight months as companies secured the US dollar liquidity on worry about an economic fallout from the coronavirus (COVID-19) outbreak, c...

Renewables 'neglected' in proposed budget

SYFUL ISLAM 2020-06-16 09:49:18

The renewable energy sector has received a 'very cold' response from the government in the proposed budget for the next fiscal year, stakeholders say. Apart from granting value-added tax (VAT) exempt...

Budget funding: Borrow from foreign sources, not banks

FE REPORT 2020-06-16 09:38:36

The government should negotiate with international financial organisations on low cost loans to meet the budget deficit for fiscal 2020-2021 instead of putting additional pressure on troubled local...

Move to ease burden on small taxpayers

Doulot Akter Mala 2020-06-16 09:35:41

Individual taxpayers with gross assets lower than Tk 4.0 million will not be required to submit wealth statement in tax returns. The Finance Bill-2020, placed in parliament on June 11, has incorpor...

Loan defaulters get Sept lifeline

-- 2020-06-15 22:06:20

Borrowers have been given until September to repay instalments to banks before their loans are classified as bad debts. Bangladesh Bank on Monday issued a circular extending the timeframe during whic...

'Implementing budget bigger challenge during pandemic'

FE Online Report 2020-06-15 20:42:21

Implementing a budget is always challenging, especially during this pandemic, and it is not possible to say yet whether the proposed budget for fiscal year 20-21 reflects the understandings, the aspir...

India's wholesale inflation at -3.21 pc in May

-- 2020-06-15 16:16:56

India's wholesale price index (WPI) contracted by 3.21 per cent in May, data released by the federal commerce and industry ministry on Monday said. "The annual rate of inflation, based on monthly WPI...

Covid-19 pandemic: BAB issues 13-point recommendation for member banks

FE Online Report 2020-06-15 14:59:43

Bangladesh Association of Banks (BAB) has issued a 13-point recommendation, including reduction of salary of its member banks’ staff for the next 18 months. The BAB, a forum of the country&rsqu...

Indonesia's trade balance back to surplus in May

-- 2020-06-15 14:25:34

Indonesia's trade performance was back to a surplus in May as the plunge of imports exceeded the decline in exports when the novel coronavirus pandemic has depressed demands and weakened economic acti...

Wooing investment: BPGMEA seeks tax holiday

FE REPORT 2020-06-15 11:17:02

The local plastic goods makers' body in its post-budget reaction has sought tax holiday to attract more investment in the sector. The Bangladesh Plastic Goods Manufacturers and Exporters Association...

ADB okays $100m loan for rural road dev in BD

-- 2020-06-15 10:53:52

The Asian Development Bank (ADB) has approved a $100 million loan to expand the coverage of an ongoing rural road network improvement project in Bangladesh, connecting the rural population to agricult...

Asian stocks, oil fall as second wave fears grow

REUTERS 2020-06-15 10:37:57

Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China furth...

Implementation of budget key challenge, says Razzaque

FE REPORT 2020-06-15 10:09:49

The implementation of the proposed budget for fiscal year 2020-21 is a major challenge, said a senior minister of the incumbent government on Sunday. "I must say that the budget is very challenging,"...

NBR expects Tk 110b in additional taxes

Doulot Akter Mala 2020-06-15 09:30:35

Four new fiscal measures, including taxes on cigarettes and mobile phone use, are expected to fetch nearly Tk 110 billion in additional VAT and excise duty in the upcoming fiscal year. The National B...

“Not possible to transform disabled into human resources with allowance oriented budget”

FE Online Report 2020-06-14 22:52:32

Access Bangladesh Foundation on Sunday arranged a virtual meeting on the proposed budget for 20-21 fiscal year. The meeting titled “National Budget 2020-21: Status of persons with disabilities...

Post-budget reaction: BDFA demands increased duty on bulk field milk

FE ONLINE REPORT 2020-06-14 14:18:44

Bangladesh Dairy Farmers' Association (BDFA) on Sunday called on the government to increase import duty on bulk field milk in the proposed national budget for fiscal year 2020-21 for the protection of...

Doubling pvt investment pipe dream: Economists

FHM Humayan Kabir 2020-06-14 09:42:12

The government's goal of doubling private investment as percentage of gross domestic product or GDP, in fiscal year 2020-21 is unrealistic, economists said on Saturday. The government seeks to rais...

Economists question logic behind growth projection

FE REPORT 2020-06-14 09:23:13

A local think-tank Saturday questioned the justification behind setting the economic growth target for the upcoming fiscal at 8.2 per cent. In a virtual post-budget analysis on Saturday, South Asian...

'Invest funds in BD, otherwise leave country forever'

-- 2020-06-13 19:28:50

Finance Minister AHM Mustafa Kamal has said money launderers should leave Bangladesh forever if they do not want to invest the funds in the country. The minister also said the government will toughen...

India's forex reserves cross $500b for first time

Xinhua 2020-06-13 19:15:58

India's foreign exchange (Forex) reserves have crossed the 500 billion US dollars mark for the first time, said the central bank - the Reserve Bank of India's (RBI) latest weekly statistical data. Th...

UK economy shrinks 20pc to fall back to 2002 level

-- 2020-06-13 19:10:36

The British economy has seen nearly two decades worth of growth wiped out as a result of the lockdown measures put in place during the coronavirus pandemic. The Office for National Statistics of UK s...

BD economy suffering triple blow due to COVID-19: IMF

FE ONLINE DESK 2020-06-13 18:21:45

Bangladesh's economic impact due to COVID-19 pandemic has been felt in three main avenues-- a drop in domestic economic activity after announcement of shutdown, a decline in exports of ready-made garm...

IMF's next growth outlook to trend lower

-- 2020-06-13 17:24:56

The International Monetary Fund expects its next economic forecast to trend lower as the world deals with new pandemic damage and a sluggish recovery. The organisation is slated to release its next g...