The Financial Express

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‘No changes’ to yield rates of savings tools before next election

FE Report 2018-08-08 14:50:14

Finance Minister AMA Muhith has ruled out the possibility of reducing the yield rates of state-run savings instruments before the upcoming national elections. "We are not making any changes to the...

US finalises $16b China tariff list

-- 2018-08-08 12:44:13

The United States will begin collecting 25 per cent tariffs on another $16 billion in Chinese goods on Aug. 23, the US Trade Representative’s office said on Tuesday as it published a final tarif...

Country in the grip of ‘twin deficits’

Jasim Uddin Haroon 2018-08-08 09:59:14

Fiscal deficits in developing economies including Bangladesh have direct impact on the current account imbalance, reflecting the 'twin-deficits'. This new relationship was found in the latest study c...

Govt to acquire 500 acres more land for Araihazar Economic Zone

-- 2018-08-07 19:29:35

The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved a revised project to acquire additional 500 acres of land for Araihazar Economic Zone in Narayanganj following the...

11 development projects get ECNEC nod

FE Online Report 2018-08-07 19:06:47

The government on Tuesday approved 11 development projects including the smart electricity bill prepaid meter installation project at a total cost of Tk 64.48 billion. The approval...

Inflation dips slightly in July

FE Online Report 2018-08-07 19:00:42

The point-to-point inflation rate dropped by 0.03 percentage point in the first month of the current fiscal (FY19), according to the official data. As per Bangladesh Bureau of Statistic (BBS) data, u...

BB to release new notes from August 13

FE Online Report 2018-08-07 18:39:54

Bangladesh Bank (BB) will release new currency notes for Taka 10, 20, 50 and Taka 100 in the market from August 13 ahead of Eid-ul-Azha. A press release issued by the central bank said, the new notes...

Inward remittances may cross $17 billion this fiscal: BB

Siddique Islam 2018-08-07 10:37:45

The central bank expects the overall inward remittance to cross the $17 billion mark by the end of fiscal year (FY) 2018-19. Multiple moves are already in place to spur inflows. "We've estimated c...

'Recapitalising state banks poses biggest downside risk to economy'

FE Report 2018-08-07 09:58:32

A leading chamber was critical on Monday of recpitalising the state lenders, saying it is one of the biggest downside risks to the economy. The Metropolitan Chamber of Commerce and Industry, Dhaka (M...

BR west zone earns Tk 5.9645b revenue in 2017-18 FY

-- 2018-08-06 12:58:18

The West Zone of Bangladesh Railway has earned revenue worth around Tk 5.9645 billion during the last 2017-18 fiscal year up by Tk 1.1834 billion over the previous 2016-17 fiscal. Of the total earnin...

German industrial orders plunge in June

-- 2018-08-06 12:47:24

German industrial orders plunged record low in June, fell by 4.0 per cent after an increase of 2.6 per cent the previous month, the Federal Statistics Office said on Monday. The orders posted the ste...

Govt to invest Tk 9.26b to ensure food, nutrition security for rural people

-- 2018-08-05 19:44:11

The government along with the assistance from the International Fund for Agricultural Development (IFAD) will invest Tk 9.26 billion (Tk 926.50 crore) or US$ 109.85 million to increase income and food...

Indonesia lobbies US over special tariff treatment

-- 2018-08-05 17:38:44

Indonesia lobbied visiting US Secretary of State Mike Pompeo to keep the Southeast Asian nation on a list of countries that receive preferential trade terms, its foreign and trade ministers said on Su...

BB reports 18pc increase in remittance in July

-- 2018-08-05 15:41:07

Bangladeshi expatriates sent home US $1,316.93 million remittance in the first month of the current fiscal 2018-19, which is 18 per cent higher than the amount received in the corresponding period of...

US pledges $300m security funding for SE

-- 2018-08-04 11:51:53

US Secretary of State Mike Pompeo pledged on Saturday to provide nearly $300 million in new security funding for Southeast Asia, as China forges ahead with plans to bolster its engagement in the reg...

Italy economy to slow down in coming months

-- 2018-08-03 16:27:30

Italian economic growth is likely to weaken in coming months, national statistics office ISTAT said on Friday. In its monthly economic bulletin, ISTAT said its latest composite leading indicator &ldq...

Internal audit dept to help recover loan: Study

FE Report 2018-08-03 10:20:24

Each bank has to establish a separate internal audit (IA) department, which will speed up the recovery of loan though legal measure, according to a study. The study, conducted by Bangladesh Institute...

Interest rate drops to single digit from Aug 9: Muhith

-- 2018-08-02 20:42:05

Finance Minister AMA Muhith has said the interest rate in the banking sector will come down to single digit from August 9. “The new initiative of the 6.0 per cent deposit rate and 9.0 per cent...

Investment proposals witness 11.89pc rise in FY18

-- 2018-08-02 18:56:46

The investment proposals from both local and foreign entrepreneurs increased by 11.89 per cent in the fiscal year 2017-18 (FY18). In FY18, Bangladesh Investment Development Authority (BIDA) received...

ADB provides $500m loan for 800MW power plant

FE Online Report 2018-08-02 14:37:31

The Asian Development Bank (ADB) has provided US$500 million loan to develop a state-of-the-art 800-megawatt (MW) power plant in Khulna. The fund will also be used for power transmission facilities...

BoE poise to raise rates interest

-- 2018-08-02 13:55:11

The Bank of England (BoE) looks set to raise interest rates on Thursday to their highest level since the financial crisis almost a decade ago. The fifth largest economy of the world has slowed since...

BIDA gets 11.89pc higher investment bids in FY 18

FE Report 2018-08-02 10:09:48

The amount involving the investment proposals with Bangladesh Investment Development Authority (BIDA) has increased by around 11.89 per cent during the last fiscal year (FY), 2017-18, according to its...

WB loans get costlier, its terms too

FHM Humayan Kabir 2018-08-02 09:27:39

Bangladesh will no longer eligible for concessional loan from the World Bank as it has started lending at 2.0 per cent rate. The Washington lender has made the higher rate effective from last month i...

Malaysia eyes Myanmar labourers as alternative to Bangladeshis

-- 2018-08-01 13:52:22

Malaysian factories are hiring Myanmar labourers directly, without charging them broker fees, because of a labour shortage, according to the Myanmar Overseas Employment Agencies Federation. “Em...

Trump to slap 25pc tariff on $200b of Chinese imports

-- 2018-08-01 13:13:03

The Trump administration plans to propose slapping a 25-per cent tariff on $200 billion of imported Chinese goods after initially setting them at 10 per cent. The administration plan to more than d...

Economists seem pitted against each other

Jasim Uddin Haroon 2018-08-01 09:58:01

Leading economists are divergent over the monetary policy stance of the central bank, with some seeing it as 'expansionary' while others call it 'contractionary'. Bangladesh Bank governor Fazle Kabir...

BB releases MPS aiming to spur growth, curb inflation

FE Report 2018-08-01 09:44:55

The central bank announced a new monetary policy statement (MPS) on Tuesday for promoting job-centric growth with a restraining approach to curb inflationary pressure on the economy. Bangladesh Ban...

BFIU finds evidence of Tk 40b capital flight

FE Report 2018-08-01 09:34:16

A group of businesses is reported to have been involved in capital flight amounting to Tk 40 billion in disguise of imports and exports. Bangladesh Financial Intelligent Unit (BFIU) has discovered...

Cooperation within South Asia very important for development: Muhith

FE Online Report 2018-07-31 20:31:14

Finance Minister AMA Muhith on Tuesday said cooperation within South Asian countries is very important for this region to develop including Bangladesh. “South-south cooperation is very importan...

Yield rates of long-term treasury bonds up in FY18

FE Online Report 2018-07-31 16:57:02

Average yield rates of the long-term treasury bonds (T-bonds) increase modestly in the past fiscal year. Latest statistics released by the central bank showed that weighted average yield rate of 10-Y...