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The Financial Express

Search results for: economy

Meghna Bank staff to donate one-day salary

FE Online Desk April 04, 2020 17:07:34

The staff of Meghna Bank Limited has come forward to stand by the people affected by the corona virus situation, who are out of the social safety-net. The staff of the bank has decided to donate one-...

No penalty on credit card dues until June: BB

-- April 04, 2020 15:28:39

The Bangladesh Bank has ordered banks to waive penal charges for credit card customers until June for any late payment amid the ongoing lockdown due to a coronavirus outbreak. The central bank announ...

World Bank sees 'major global recession' due to pandemic

REUTERS April 04, 2020 11:10:23

World Bank Group president David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most...

Pandemic pushes down remittance inflow

FE REPORT April 04, 2020 09:36:42

The flow of inward remittance dropped by nearly 12 per cent in March following coronavirus outbreak in different parts of the world, officials said. Remittances from Bangladeshi nationals working abr...

Battling COVID-19: WB could fast-track $100m loan release

FHM Humayan Kabir April 04, 2020 08:25:52

The World Bank is likely to confirm US$100 million loan disbursement for Bangladesh within a couple of days to help the country tackle the deadly coronavirus outbreak, a senior official said. "We've...

Coronavirus may halve GDP growth in developing Asia: ADB

-- April 03, 2020 21:49:30

Developing Asia’s already slowing economic growth is set to weaken even more sharply this year, hit by the fallout from the coronavirus pandemic before it bounces back strongly next year, the As...

With over a million coronavirus cases, economic freefall looms

Reuters April 03, 2020 20:38:58

Global cases of the new coronavirus have shot past 1 million with more than 53,000 fatalities, a Reuters tally showed on Friday, as death tolls soared in the United States and western Europe while the...

MSMEs need emergency fund at lower interest rate: DCCI to govt

FE Online Report April 03, 2020 19:54:53

Dhaka Chamber of Commerce & Industry (DCCI) on Friday urged the government to create emergency fund for micro, small & medium enterprises (MSMEs) amid coronavirus outbreak at a lower interest...

Al-Arafah to donate 1-day salary of staff

FE Online Desk April 03, 2020 19:14:43

All employees of Al-Arafah Islami Bank Limited have decided to donate one day’s salary to the Prime Minister’s Relief and Welfare Fund to help the government fight the present crisis, crea...

Emirates resumes first passenger flights April 6

FE Online Desk April 03, 2020 18:29:37

Emirates has received approvals to carry passengers on certain flights. Effective from April 6, initial flights will commence from Dubai to London Heathrow, Frankfurt, Paris, Brussels and Zurich, wit...

‘BD should inject more cash into economy to fight COVID-19’

-- April 03, 2020 18:25:37

Bangladesh needs to inject more cash into the economy to tackle the impact of novel coronavirus (COVID-19) pandemic, said Asian Development Bank (ADB) Country Director Manmohan Parkash. He also under...

DCCI for emergency fund for MSMEs

FE Online Desk April 03, 2020 18:01:38

Dhaka Chamber of Commerce & Industry (DCCI) urged the government to create a 3-year long emergency fund with 1. 0 per cent interest to support the financially stressed local MSMEs and informal s...

MTB donates Tk 50m to PM Fund

FE Online Desk April 03, 2020 16:47:09

Mutual Trust Bank Ltd. (MTB) has donated BDT 50 million to the Prime Minister's Relief and Welfare Fund to help fight the outbreak of coronavirus recently. The bank handed over the cheque through Ban...

When will US economy bottom? Economists hunt for the right view

REUTERS April 03, 2020 16:09:50

The economic crisis spawned by the coronavirus pandemic has produced a wave of grim US data, with likely more to come as millions lose jobs, businesses shutter and spending stops. But at some point,...

BD economy expected to remain strong: ADB

-- April 03, 2020 14:42:50

The Bangladesh economy is expected to remain strong in fiscal 2020, with a strong GDP growth rate of 7.8 per cent, according to the Asian Development Bank. The gross domestic product (GDP) of Banglad...

Asia's economy to decline sharply in 2020 due to COVID-19: ADB

-- April 03, 2020 12:35:59

The regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the COVID-19 pandemic before recovering in 2021, according to the Asian Development Bank (ADB. The...

India's growth to slow to 4pc in 2020

-- April 03, 2020 12:19:58

India's gross domestic product (GDP) is projected to slow to 4.0 per cent in fiscal year (FY) 2020 ending on March 31, 2021 due to a weak global environment and continued efforts to contain the COVID-...

Philippine economic growth to fall to 2.0pc in 2020

-- April 03, 2020 11:39:56

The Philippine economic growth is projected to fall to 2.0 per cent in 2020 before a strong recovery to 6.5 per cent in 2021, assuming COVID-19 outbreak is contained by June this year, said ADB. Acco...

Vietnam's industrial production up in first quarter

-- April 03, 2020 11:20:21

Vietnam's national index of industrial production advanced 5.28 per cent year-on-year in the first quarter of this year, the country's General Statistics Office announced on Friday. The main driver o...

Tk 50b stimulus package: BB invites applications from banks

FE REPORT April 03, 2020 08:22:41

The central bank has invited applications in prescribed forms from all the scheduled banks for receiving low cost fund from the government-announced Tk 50 billion stimulus package. "We've issued a ci...

Economist floats recovery plan as virus bites economy

FHM Humayan Kabir April 03, 2020 08:12:19

An economist on Thursday suggested the government devise a two-year "Recovery Plan" aiming to dilute the impact of coronavirus pandemic. Outlining his plan, Dr Selim Raihan, a professor of economics...

Weathering virus impact: MCCI suggests creating Tk 1.0tn fund

 FE REPORT April 03, 2020 08:05:29

An elite chamber on Thursday proposed the government to form a fund of Tk 1.0 trillion to help minimise economic losses as a result of Covid-19 outbreak. The Metropolitan Chamber of Commerce and Indu...

Buyers cancel orders of RMG products worth $3.0b

-- April 02, 2020 21:50:40

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Thursday said buyers have so far cancelled orders worth $3.0 billion following the outbreak of coronavirus. About 1,092 factorie...

BD needs Tk 300b initially to minimise COVID-19 impact

-- April 02, 2020 20:24:52

Bangladesh needs around Taka 300.00 billion initially for three months -- March, April and May -- for various sectors to minimise the impact of the COVID-19 pandemic. The Metropolitan Chamber of Comm...

Garment accessories makers want inclusion in proposed Tk 50b fund

FE Online Report April 02, 2020 18:52:57

Local garment accessories makers have urged the government to include them in the proposed TK 50 billion fund for export sectors or allocate a separate fund for the industry to help them overcome the...

Global economy could shrink by 1.0pc in 2020: UN

-- April 02, 2020 17:45:53

The global economy could shrink by up to 1 per cent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal resp...

"Suspend 8FYP for now, draft 2Y recovery plan"

FE Online Report April 02, 2020 17:40:11

Dr Selim Raihan, executive director of SANEM, has proposed a two-year Recovery Plan for Bangladesh instead of the 8th Five Year Plan (8FYP). In his proposal, Dr Raihan has recommended eight points:...

Almost 900,000 Spanish workers lost their job since coronavirus lockdown

-- April 02, 2020 14:46:36

Spain’s social security data showed on Thursday that close to 900,000 workers lost their job since March 12 when the country went on coronavirus lockdown. Some 898,822 workers lost their jobs s...

‘Tourism sector to lose Tk 97.05b during Feb-June period’

-- April 01, 2020 22:10:21

Bangladesh chapter of Pacific Asia Travel Association (PATA) has predicted that overall tourism sector of the country would incur a loss of approximately Tk 97.05 billion from February to next June 20...

‘COVID-19 may pull down BD’s growth even below 6.0pc’

FE Online Report April 01, 2020 21:03:25

The impacts of COVID-19 on the country’s economic growth, job losses and upsurge in poverty are expected to be large, observed an economist.  Though the Gross Domestic Product (GDP) of Ban...