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The Financial Express

Search results for: economy

NBR works out ways to legalise undisclosed cash; circular next month

NBR works out ways to legalise undisclosed cash; circular next month

DOULOT AKTER MALA 2020-08-16 10:01:53

People having undisclosed cash are expected to get the chance to legalise their money in three methods while filing return during the current fiscal year. The taxmen may allow the relevant taxpayers...

Project underway to help employ urban youths, migrant returnees

Project underway to help employ urban youths, migrant returnees

FHM HUMAYAN KABIR 2020-08-16 09:37:00

The World Bank (WB) is set to provide $150-million to create employment opportunities for low-income urban youths and migrant returnees and raise their productivity level, officials at the Economic Re...

Govt eyes dent in inequality

Govt eyes dent in inequality

FE REPORT 2020-08-16 09:34:16

The government expects a significant improvement in income inequality from its peak, amid sluggish economic activities. It eyes Gini coefficient-a measure of income distribution where 0 represents pe...

India to inject $1.46t to turnaround virus-hit economy

India to inject $1.46t to turnaround virus-hit economy

-- 2020-08-15 20:22:50

India’s prime minister said Saturday his country has done well in containing the coronavirus pandemic and announced $1.46 trillion in infrastructure projects to boost the sagging economy, report...

Industrial engine loses steam

Industrial engine loses steam

FHM Humayan Kabir 2020-08-15 09:23:18

Bangladesh's industrial growth slumped in the last fiscal year, mainly due to the COVID pandemic, the government data show. The sector recorded notable growth in the previous couple of years. The man...

Pandemic leaves 20,000 people jobless in Khulna city alone

Pandemic leaves 20,000 people jobless in Khulna city alone

-- 2020-08-14 19:20:52

The coronavirus outbreak has left around 20,000 workers in Khulna city without a job over the last four months and forced the closure of 20 per cent business establishments. Another 20,000 workers of...

Malaysia's economy contracts 17.1pc in second quarter

Malaysia's economy contracts 17.1pc in second quarter

-- 2020-08-14 16:48:33

The Malaysian economy contracted 17.1 per cent year on year in the second quarter (Q2), the worst slump since the fourth quarter of 1998, official data showed Friday. Malaysian Central Bank, Bank Neg...

Economists caution against complacency about robust remittance inflow

Economists caution against complacency about robust remittance inflow

-- 2020-08-14 11:21:39

The record inflow of remittance in the last two months should not give any sense of complacence for Bangladesh as the situation in overseas labour market remains fluid and the migrant workers are poss...

Indonesia must use pandemic to reboot S Asia’s biggest economy: President

Indonesia must use pandemic to reboot S Asia’s biggest economy: President

-- 2020-08-14 10:41:29

Indonesia must use the pandemic to reboot Southeast Asia’s biggest economy, including by improving food and energy security, as well as processing more natural resources at home, President Joko...

Fisheries sector entrepreneurs get Tk 260m loans so far

Fisheries sector entrepreneurs get Tk 260m loans so far

TALHA BIN HABIB 2020-08-14 09:57:48

The government has disbursed around Tk 260 million as loans to the entrepreneurs of fisheries sector to help offset the financial losses due to the Covid-19 pandemic, an official said. The loans have...

Govt cranks up bank borrowing

Govt cranks up bank borrowing

SIDDIQUE ISLAM 2020-08-14 09:20:55

The government started the new fiscal year with higher bank borrowing as July loans figure almost doubled as revenue collection fell, officials say. Its borrowing reached Tk 130.87 billion in the fir...

‘BD economy shows signs of positive growth despite global recession’

‘BD economy shows signs of positive growth despite global recession’

-- 2020-08-13 18:47:35

Bangladesh might be one of only two ASEAN and South Asian economies to register positive growth in 2020 when the world is almost certainly bound to a devastating recession caused by the coronavirus pa...

In China, fears of financial Iron Curtain as US tensions rise

In China, fears of financial Iron Curtain as US tensions rise

REUTERS 2020-08-13 15:02:02

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect...

German cos see business returning to normal in 11 months

German cos see business returning to normal in 11 months

Reuters 2020-08-13 14:50:39

German companies expect business to return to normal in an average of 11 months, the Ifo economic institute said on Thursday. For companies in the services sector, that number is even higher, at 11.7...

Chinese banks expected to dispose $490 billion of bad loans in 2020

Chinese banks expected to dispose $490 billion of bad loans in 2020

-- 2020-08-13 13:57:09

China’s banking industry is expected to dispose 3.4 trillion yuan ($489.91 billion) of bad loans in 2020 to contain financial risks in an economy weakened by Covid-19, according to a Xinhua repo...

Australian unemployment hits 22-year high

Australian unemployment hits 22-year high

-- 2020-08-13 12:26:56

The number of unemployed Australians actively looking for work has surpassed 1.0 million for the first time. According to data released by the Australian Bureau of Statistics (ABS), which is in Canbe...

July revenue collection falls 22pc

July revenue collection falls 22pc

Doulot Akter Mala 2020-08-13 10:17:20

The overall revenue collection fell by 22.07 per cent to only Tk 123.34 billion in July last, the first month of the current fiscal year (FY), as compared to that of the same month of last year, accor...

Japan confirms largest ever loan package of US$ 3.15b for BD

Japan confirms largest ever loan package of US$ 3.15b for BD

FE Online Report 2020-08-12 16:28:39

Japan on Wednesday confirmed largest ever loan package of US$ 3.15 billion for Bangladesh to bankroll seven development projects in the country, officials said. Under the 41st Official Development As...

US businesses not leaving Chinese market amid pandemic: Survey

US businesses not leaving Chinese market amid pandemic: Survey

-- 2020-08-12 13:39:42

US businesses are not leaving the Chinese market despite "an unprecedented downturn" in US-China relations during the COVID-19 pandemic, according to an annual member survey released Tuesday by the US...

UK officially in recession for first time in 11 years

UK officially in recession for first time in 11 years

-- 2020-08-12 12:45:48

The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession. The economy shrank 20.4 per cent compared wit...

Investment-GDP ratio increases slightly in FY20

Investment-GDP ratio increases slightly in FY20

FE Online Report 2020-08-12 12:30:54

Country’s total investment in terms of Gross Domestic Product (GDP) increased modestly in the last fiscal year (FY20) ended on June 30, 2020. The provisional estimate of GDP, released by Bangla...

Govt fortifying BIDA to be investment-friendly

Govt fortifying BIDA to be investment-friendly

JASIM UDDDIN HAROON and REZAUL KARIM 2020-08-12 09:48:15

The government is strengthening the Bangladesh Investment Development Authority (BIDA) to make it is more sophisticated and investment-friendly. As part of reinforcing the investment promotion agency...

Kamal happy with GDP growth, per capita income attained in FY20

Kamal happy with GDP growth, per capita income attained in FY20

-- 2020-08-11 21:57:09

Finance Minister AHM Mustafa Kamal has expressed his satisfaction at the 5.24 per cent GDP growth rate and $2,064 per capita income attained by the country in the last fiscal year (FY20). Kamal expre...

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

FE ONLINE REPORT 2020-08-11 19:54:22

Indian High Commissioner in Dhaka, Riva Ganguly Das on Tuesday, said the excellent state of India- Bangladesh bilateral relations and the recent connectivity initiatives taken by both the countries in...

GDP growth rate reaches 5.24pc in FY20: BBS

GDP growth rate reaches 5.24pc in FY20: BBS

-- 2020-08-11 17:49:12

The GDP growth rate of Bangladesh has reached 5.24 per cent in the last fiscal year (FY20) despite the impact of coronavirus pandemic while the per capita income increased to $2,064, according to the...

UK suffers biggest job losses since 2009

UK suffers biggest job losses since 2009

Reuters 2020-08-11 13:58:06

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s...

BD economy grew 5.24pc in FY20 amid pandemic

BD economy grew 5.24pc in FY20 amid pandemic

-- 2020-08-11 13:39:15

Bangladesh has reported 5.24 per cent GDP growth in FY 2019-20 with the coronavirus pandemic ravaging the economy for at least a third of the financial year. The size of the GDP stood past Tk 27.96 t...

Singapore narrows 2020 GDP growth forecast

Singapore narrows 2020 GDP growth forecast

-- 2020-08-11 11:41:17

Singapore's Ministry of Trade and Industry (MTI) has announced that it narrowed the gross domestic product (GDP) growth forecast for 2020 to "-7 to -5 per cent" from "-7 to -4 per cent." The ministry...

Move to devise ways of stemming ADP leakage

Move to devise ways of stemming ADP leakage

FHM HUMAYAN KABIR 2020-08-11 09:30:47

The government is going to tighten its belt by reining in inflated costs and irregularities in development projects, officials said on Monday. The planning minister MA Mannan will sit with all secret...

Corona brings chance for digitalisation   

Corona brings chance for digitalisation  

FE REPORT 2020-08-11 09:26:46

Speakers at a dialogue on Monday said Covid-19 crisis puts unprecedented strains on markets, governments, businesses and individuals, but simultaneously it has brought opportunities for digitalisation...