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Search results for: economy

'Banks fully capable of executing stimulus packages'

'Banks fully capable of executing stimulus packages'

SIDDIQUE ISLAM 2020-08-09 09:47:50

The banking sector is fully capable of implementing the government-declared financial stimulus packages despite its own pre-Covid-19 challenges, a top leader of the banking community has said. "Ban...

Govt relooks at labour market to tap potentials with skilled workers

Govt relooks at labour market to tap potentials with skilled workers

-- 2020-08-08 20:46:58

The government considers enhancing the skills of the country’s capable population and their productivity to fulfill the demand of the labour markets, both at home and abroad, aiming to face the...

Covid erodes country’s business confidence severely

Covid erodes country’s business confidence severely

FE Online Report 2020-08-08 19:20:31

The overall status of business in the country in the last quarter (April-June, 2020) of the fiscal year 2019-2020 (FY20) was extremely poor due to negative impact of deadly coronavirus. While all the...

Italy's foreign trade continues recovery in June

Italy's foreign trade continues recovery in June

-- 2020-08-08 13:55:50

Italy's foreign trade picked up in June compared to May, with imports rising by 16.1 per cent and exports by 14.4 per cent, the National Statistics Institute (ISTAT) has said in a report. The month-o...

BD gets $1.0b China loan to improve power grid

BD gets $1.0b China loan to improve power grid

MIR MOSTAFIZUR RAHAMAN 2020-08-08 09:38:31

Bangladesh has got confirmation of another US$970 million loan from China to be used for strengthening its electricity grid. This loan will be provided to the state-run Power grid Company of Banglade...

Govt to form special fund for Delta Plan 2100

Govt to form special fund for Delta Plan 2100

-- 2020-08-07 17:17:30

The government is going to form a special fund, 'Bangladesh Delta Fund', for implementing its long-term integrated master plan, ‘Delta Plan 2100’, to harness the huge potentials of Banglad...

Beirut explosions aggravate Lebanon's economic woes

Beirut explosions aggravate Lebanon's economic woes

-- 2020-08-07 12:39:56

The seismic blasts which rocked the Lebanese capital of Beirut have delivered another calamitous blow to a country already in the throes of an unprecedented economic crisis. Two huge explosions rocke...

RMG exports to major markets plunge in H1

RMG exports to major markets plunge in H1

MONIRA MUNNI 2020-08-07 09:37:20

The country's apparel exports to its major destinations, including the US, Germany, Italy and the UK, witnessed a drastic fall during the first half (H1) of current calendar year, mainly due to the on...

BCC suggests steps against anti-competitive activities

BCC suggests steps against anti-competitive activities

FE Report 2020-08-07 09:37:17

Bangladesh Competition Commission (BCC) has suggested taking steps against any possible anti-competitive activities for ensuring competitive allocation and spending of the government-announced stimu...

Govt’s bank borrowing more than doubles   

Govt’s bank borrowing more than doubles  

SIDDIQUE ISLAM 2020-08-07 09:31:35

The government's net borrowing through selling savings tools dropped by more than 71 per cent to Tk 144.28 billion in FY '20 from Tk 499.39 billion a year ago, according to official figures. A dras...

€150m AFD loan to support BD’s cash transfer programmes and Covid-19 response

€150m AFD loan to support BD’s cash transfer programmes and Covid-19 response

FE Online Desk 2020-08-06 13:55:04

The Executive Board of the French Development Agency (Agence Française de Développement - AFD) has recently approved a Concessional Loan of 150 million euro to support the People's Repub...

ADB grants Bangladesh $3.0m to fight pandemic

ADB grants Bangladesh $3.0m to fight pandemic

-- 2020-08-06 13:13:50

The Asian Development Bank (ADB) has approved an additional $3.0 million in grant assistance for procuring urgently needed medical supplies for emergency response to the coronavirus pandemic in Bangla...

Covid-19 fallout: Govt eyes huge borrowing over three fiscal years next

Covid-19 fallout: Govt eyes huge borrowing over three fiscal years next

UNB 2020-08-06 12:58:42

The government has planned to borrow Tk 5714.5 billion from various sources both at home and abroad over the next three fiscal years, including the running one, mainly to face the economic challenges...

Pandemic triggers big job losses in BD’s RMG sector: WTO

Pandemic triggers big job losses in BD’s RMG sector: WTO

FE ONLINE REPORT 2020-08-06 12:18:40

The Covid-19 pandemic has triggered huge job losses, especially for women, in the ready-made garment (RMG) sector in Bangladesh exposing the sector's sensitivities by destabilising global supply chain...

Philippines' Q2 GDP growth hits record low

Philippines' Q2 GDP growth hits record low

-- 2020-08-06 11:08:48

The GDP growth rate of the Philippines dropped by 16.5 per cent in the second quarter of 2020, the lowest recorded quarterly growth since 1981, bringing the country to a technical recession. In a vir...

BD emerges as 3rd largest apparel supplier to US

BD emerges as 3rd largest apparel supplier to US

MONIRA MUNNI 2020-08-06 09:29:27

Bangladesh has emerged as the third largest sourcing country for the US-based apparel and fashion companies in 2020, advancing from the last year's sixth position despite the Covid-19 pandemic, acco...

Japan provides $330m emergency budget support

Japan provides $330m emergency budget support

FE Online Report 2020-08-05 13:36:51

Japan will provide 330 million US dollar to Bangladesh as an Official Development Assistance (ODA) loan. In this regard Mr. ITO Naoki, Ambassador of Japan to Bangladesh, and Ms. Fatima Yasmin, Secret...

IMF forecasts modest narrowing in current account imbalances in 2020

IMF forecasts modest narrowing in current account imbalances in 2020

-- 2020-08-05 12:37:14

Global current account surpluses and deficits narrowed in 2019, and the Covid-19 pandemic could narrow the imbalances further in 2020, the International Monetary Fund (IMF) said in its annual External...

MPS  lacks direction and policy support on new job creation : BUILD

MPS lacks direction and policy support on new job creation : BUILD

FE Online Desk 2020-08-05 01:41:22

Business Initiative Leading Development (BUILD) has advocated for quarterly announcement of Monetary Policy Statement (MPS). "The MPS should be announced quarterly in a precise format as fiscal yea...

BD may seize opportunity as Japanese firms plan relocation: Japanese envoy

BD may seize opportunity as Japanese firms plan relocation: Japanese envoy

FE ONLINE DESK 2020-08-04 16:01:55

Bangladesh may grab the opportunity maintaining the business competiveness as some Japanese firms are intending to relocate their business and searching new destinations for supply chain adjustments,...

US manufacturing activity expands in July

US manufacturing activity expands in July

-- 2020-08-04 09:40:36

Economic activity in the US manufacturing sector expanded in July amid a resurgence in new Covid-19 infections, the Institute for Supply Management (ISM) reported Monday. The Purchasing Managers' Ind...

Inflow of remittances crosses $2.50b-mark in July

Inflow of remittances crosses $2.50b-mark in July

FE Online Report 2020-08-03 19:49:08

The inflow of remittances crossed US$ 2.50 billion-mark in July—before the celebration of Eid-ul-Azha -- highest ever the country received in a month, officials said. Remittances from Banglades...

India's central bank likely to cut rates despite inflation risk

India's central bank likely to cut rates despite inflation risk

REUTERS 2020-08-03 13:10:15

India’s worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures....

Economists fear double-whammy of unemployment may sow social tensions

Economists fear double-whammy of unemployment may sow social tensions

-- 2020-08-03 10:52:19

Piling on top of the pre-pandemic stock of jobless population, economists apprehend the newly unemployed resulting from firms severely scaling back on their activities as part of ‘lockdown&rsquo...

Japan Q1 GDP unchanged at 2.2pc annualised contraction after second revision

Japan Q1 GDP unchanged at 2.2pc annualised contraction after second revision

-- 2020-08-03 10:10:07

Japan’s economy shrank an annualised 2.2 per cent in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday. The additional revision for the gross domes...

ADB sees pandemic slashing 2020 global remittances by over $100 billion

ADB sees pandemic slashing 2020 global remittances by over $100 billion

-- 2020-08-03 09:28:25

Remittances across the world could decline by $108.6 billion this year as job losses mount and employers trim payrolls amid a Covid-19 pandemic that has devastated economies, according to a report by...

Democrats, White House still at impasse over coronavirus bill

Democrats, White House still at impasse over coronavirus bill

REUTERS 2020-08-02 14:28:53

The top Democrats in Congress are not close to a deal with the White House to pump more money into the US economy to ease the coronavirus’ heavy toll, both sides said on Saturday, after an essen...

WB okays $202m to increase food storage capacity in Bangladesh

WB okays $202m to increase food storage capacity in Bangladesh

-- 2020-08-02 12:49:11

The World Bank’s Board of Executive Directors has approved $202 million in additional financing for the Modern Food Storage Facilities Project to increase the storage capacity of Bangladesh&rsqu...

Eurozone economy suffers record drop during lockdown months

Eurozone economy suffers record drop during lockdown months

AP 2020-07-31 20:08:00

The economy of the 19-country eurozone shrank by a devastating 12.1 per cent during the second quarter from the quarter before as coronavirus lockdowns froze business and consumer activity. It was the...

Spain enters steep recession, wiping out six years of growth

Spain enters steep recession, wiping out six years of growth

REUTERS 2020-07-31 15:25:50

Spain recorded a historic fall in GDP in the second quarter of the year, with the 18.5 per cent drop wiping out all the post-financial crisis recovery of the last six years, data from National Statist...