The Financial Express

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COVID-19 impact and the world economy in eight charts by RAPID

M ABU EUSUF and JILLUR RAHMAN 2020-06-02 13:38:51

The first case of COVID-19 (Coronavirus) was reported in Wuhan, China, in late December 2019. As of 31 May, 2020, over 6.2 million COVID cases were reported in over 200 countries and territories aroun...

BB files new case over 2016 cyber heist

-- 2020-06-02 12:12:45

Bangladesh Bank (BB) has filed a fresh civil case against 17 Philippine entities to recover the 81 million US stolen in a 2016 cyber heist, reports philstar.com. The case has been filed against the e...

ADB expands trade finance to support private sector in BD

FE Online Report 2020-06-02 11:48:49

The Asian Development Bank (ADB) has expanded the Trade Finance Program (TFP) to support private sector in Bangladesh by raising its financing limit to US$755 million from $518 million at the end of l...

Moody's cuts India's rating to lowest investment grade

REUTERS 2020-06-02 09:59:00

Moody’s Investors Service downgraded India’s credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia’s third-largest economy, rising debt and...

Remittance inflow falls more than 14pc in May

FE REPORT 2020-06-02 09:36:11

The flow of inward remittance fell by more than 14 per cent in May following the coronavirus outbreak in different parts of the world, officials said. Remittance from Bangladeshis working abroad was...

FY'21 budget: Deficit could reach 5.7 per cent of GDP

FHM Humayan Kabir 2020-06-02 09:28:12

The deficit in the upcoming budget is likely to hit a new high of 5.7 per cent due to the government's "expansionary" fiscal approach aimed at weathering the coronavirus effect on the economy, officia...

NBR extends deadline for tax submission

FE Online Report 2020-06-01 17:55:12

The National Board of Revenue (NBR) has extended the deadline for submission of corporate and other tax returns until June 29. The extended deadline would be valid for the taxpayers who have missed t...

Experts for top priority to health sector in next budget

FE Online Report 2020-06-01 15:24:18

Health sector should get utmost priority in the upcoming budget for the 2020-2021 fiscal in a bid to reduce COVID-19 effects and provide basic health security for vulnerable population, speakers said...

Australia's stalled migrant boom derails golden economic run

REUTERS 2020-06-01 14:02:26

Australia’s three decades of uninterrupted prosperity are coming to an abrupt end as the global coronavirus pandemic crashes one of its most lucrative sources of income – immigration. The...

South Korea's export drops 23.7pc in May

-- 2020-06-01 12:17:56

South Korea's export dropped in double digits in May as global demand weakened amid the coronavirus (COVID-19) outbreak across the world, a government report showed Monday. Export, which accounts for...

Tax waiver withdrawn for economic zone factories

FE REPORT 2020-06-01 09:26:16

Factories producing essential products, including edible oil, sugar, flour, cement and steel, inside economic zones will no longer be eligible for tax exemptions. In a regulatory order, the National...

ICSB event on Covid-19 and its impact

FE Online Desk 2020-06-01 00:54:39

The Institute of Chartered Secretaries of Bangladesh (ICSB) organized a Continuing Professional Development (CPD) programme on "COVID-19 and its impact on the National Economy” on May 30, 2020 o...

Rural e-commerce gains momentum in China as stay-at-home economy thrives

Xinhua 2020-05-31 19:09:21

China's rural e-commerce has been growing at a fast pace amid government initiatives to support rural consumption, data showed. As of May 22, the country saw more than 87,000 newly registered rural e...

Export earnings from jute increase by 14pc in 10 months

-- 2020-05-31 19:07:34

Export earnings from jute and jute products have increased by 14 per cent in the first ten months (July-April) of the current fiscal year 2019-20, compared to corresponding period of the previous fisc...

Reopening will worsen coronavirus crisis: Mansur

-- 2020-05-31 10:59:13

Economic researcher Ahsan H Mansur has warned of socioeconomic instability and an eroding public trust in the government as Bangladesh is set to reopen offices and resume public transport system after...

Govt expects economy to rebound next fiscal

FE REport 2020-05-31 09:25:51

The government is set to project the GDP growth rate for the fiscal year 2021 at 8.2 per cent, pinning its hope mainly on possible surge in domestic demand, powered by consumption and investment, offi...

Indian economy grows at slowest pace in eight years in Jan-March

Xinhua 2020-05-30 18:04:41

Indian economy grew at its slowest pace in eight years at 3.1 per cent for the fourth quarter of Jan-March and at 11-year low of 4.2 per cent for the fiscal year 2019-20 (April-March) widening the fis...

ADB provides assistance to augment COVID-19 facilities in BD

FE Online Report 2020-05-30 14:27:55

The Asian Development Bank (ADB) is providing US$231,178 grant to augment novel corona virus disease (COVID-19) related facilities in 134 urban primary health centres, also called Nogor Swastho Kendro...

Indian economy slows in March quarter, with worst to come

REUTERS 2020-05-30 13:49:46

India’s economy grew at 3.1 per cent in the January-March quarter, its slowest pace in at least eight years, and the situation is expected to worsen rapidly, putting pressure on the government a...

COVID-19 second wave would undermine recovery: Fed chief

-- 2020-05-30 12:23:34

US Federal Reserve Chairman Jerome Powell has said that he is concerned about a second wave of COVID-19 infections, which he believes would dampen consumer confidence and hurt economic recovery. "S...

IMF approves $732m for Bangladesh

FE Online Report 2020-05-30 11:28:45

The IMF Executive Board approved Friday US$ 732 million emergency assistance for Bangladesh under the Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI) to address the challenges posed b...

Tk 18b cut from three projects

MUNIMA SULTANA 2020-05-30 09:38:51

The government has cut the demand for more than Tk 18 billion from three major projects, including the Padma Bridge scheme, to tackle the coronavirus pandemic in Bangladesh. According to officials, t...

NBR misses revenue target until April

DOULOT AKTER MALA 2020-05-30 09:31:38

The National Board of Revenue (NBR) lagged behind its revised target by 26.29 per cent until April due to an economic slowdown caused by the COVID-19 pandemic. The tax-collecting authorities have fac...

Pandemic saps BD economic strengths

JASIM UDDIN HAROON 2020-05-30 09:21:09

The economy's almost all major indicators have dipped, drained by sluggish economic activities in the wake of shutdowns aimed at stemming the spread of coronavirus. Remittances, exports, imports, i...

COVID-19: Govt so far announces $11.90b stimulus packages

-- 2020-05-29 19:38:58

The government has so far announced a set of stimulus packages worth around $11.90 billion (Taka 1.011 trillion to offset the COVID-19 shock on various sectors of the country and minimise the sufferin...

Online job posting drops by 87pc in April: ADB

FE ONLINE REPORT 2020-05-29 18:50:47

The number of job postings on online job portals in Bangladesh dropped by 87 per cent in April this year, compared to same month of previous year, due to COVID-19 pandemic. The Asian Development Bank...

Vietnam's export down in first five months of 2020

-- 2020-05-29 13:19:36

Vietnam's export and import turnovers in the first five months of 2020 decreased by 1.7 per cent and 3.8 per cent year-on-year respectively, the country's General Statistics Office said Friday. Expor...

Nepal focuses on health spending to fight COVID-19 in annual budget

REUTERS 2020-05-29 13:13:37

Nepal increased spending on health infrastructure in its annual budget unveiled on Thursday to stop the spread of the coronavirus and introduced measures to revive an economy that depends on tourism a...

India's economy seen slowing rapidly in March quarter, with worse to come

REUTERS 2020-05-29 12:58:43

Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened alrea...

Linking four linear segments in Budget '21

DEBAPRIYA BHATTACHARYA 2020-05-29 10:27:25

It is a severe understatement when one says that formulating Bangladesh's budget for the next one year -- while the stressed economy is reeling under growing, yet uncertain, devastating impact of the...