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The Financial Express

Search results for: economy

Japan unveils measures to support pandemic-hit firms

Japan unveils measures to support pandemic-hit firms

-- 2021-03-23 15:14:51

Japan’s government on Tuesday unveiled measures to help midsize and large companies boost capital funds, officials have said, a step aimed at backing mainly restaurants and lodging businesses hi...

Bangladesh Bank avoids gold as reserve despite value addition

Bangladesh Bank avoids gold as reserve despite value addition

SIDDIQUE ISLAM 2021-03-21 08:15:54

Bangladesh's investment in the form of gold has gained value by over 37 per cent to reach around US$554 million over the last 10 years. The country's central bank, for the first time on September 0...

UK urges Bangladesh to address trade barriers

UK urges Bangladesh to address trade barriers

REZAUL KARIM 2021-03-20 09:52:55

The United Kingdom has urged Bangladesh to address the existing trade barriers and other structural problems to help attract more foreign direct investments including those from British companies. "F...

Affordable mechanism for open account exports emphasized

Affordable mechanism for open account exports emphasized

FE REPORT 2021-03-19 11:13:56

President of International Chamber of Commerce Bangladesh (ICCB) Mahbubur Rahman (top, middle) and other distinguished persons at the webinar on "Global Awareness on Open Account Export Transactions a...

Global warming could cut 63 countries' credit ratings by 2030, study warns

Global warming could cut 63 countries' credit ratings by 2030, study warns

Reuters 2021-03-19 09:42:07

A new algorithm-based study by a group of UK universities has predicted that 63 countries – roughly half the number rated by the likes of S&P Global, Moody’s and Fitch - could see thei...

UNCTAD revises global economic growth to 4.7pc for 2021

UNCTAD revises global economic growth to 4.7pc for 2021

Reuters   2021-03-18 17:18:27

The global economy is set to grow by 4.7 per cent this year thanks to a stronger-than-expected recovery in the United States, a report by the UN Conference on Trade and Development (UNCTAD) said on Th...

Bonds can ease pressure on banking sector

Bonds can ease pressure on banking sector

FE Report 2021-03-18 09:17:15

Introduction of different types of bonds can reduce pressure on banking sector by meeting long-term and large-scale financing needs of the next generation businesses, speakers said at a programme on T...

World Bank approves $200m to help Dhaka support urban poor, migrants

World Bank approves $200m to help Dhaka support urban poor, migrants

-- 2021-03-17 13:09:28

The World Bank has approved 200 million US dollars to help Bangladesh provide support and services to the low-income urban youth impacted by Covid-19 and the involuntary returnee migrant workers in or...

Two trade bodies seek cut in corporate tax rates

Two trade bodies seek cut in corporate tax rates

FE REPORT 2021-03-15 08:39:21

Plastic goods manufacturers and exporters on Sunday demanded the withdrawal of import duty, VAT, and supplementary duty on import of capital machinery and spare parts for the sector. They also urged...

Restaurant owners call for taxing all other eateries

Restaurant owners call for taxing all other eateries

FE REPORT 2021-03-15 08:29:01

Local restaurant owners on Sunday proposed the government to bring all eateries, including street foods vendors, under the tax net by slashing the VAT rate to 5.0 per cent. Currently, 40 per cent of...

Slow Gulf economic recovery to have long-lasting impact on banks

Slow Gulf economic recovery to have long-lasting impact on banks

REUTERS 2021-03-14 14:11:54

Economic recovery from the coronavirus crisis in the oil-rich Gulf region will be slow, weighing on the region’s banking sector, S&P Global Ratings said. Gulf countries fell into a sharp re...

South Korea offers $700m credit to Bangladesh

South Korea offers $700m credit to Bangladesh

MIR MOSTAFIZUR RAHAMAN 2021-03-14 09:51:15

South Korea has decided to extend US$700 million in concessional loans to Bangladesh under the Economic Development Cooperation Fund (EDCF). In this connection, the Korean Exim Bank has sent a letter...

Transport authority proposes tax on electric vehicles from next fiscal

Transport authority proposes tax on electric vehicles from next fiscal

DOULOT AKTER MALA 2021-03-14 09:26:20

The government is likely to bring electric vehicles (EVs) under the tax net in the budget for next fiscal year (FY) due to its growing popularities. Currently, the Bangladesh Road Transport Authority...

Economists suggest opening up post-graduation trade policies to get better deals

Economists suggest opening up post-graduation trade policies to get better deals

FE Report 2021-03-14 09:08:27

Economists at a webinar on Saturday stressed the need for opening up of the country's trade policies for getting preferential facilities in post-graduation period. With the existing protectionist pol...

Nine public sector banks hold 27pc assets, deposits in banking sector

Nine public sector banks hold 27pc assets, deposits in banking sector

UNB 2021-03-13 20:00:07

Nine public sector banks including three specialised banks still hold about 27 per cent of deposits and assets in the banking sector while 50 private commercial banks (PCB) including foreign ones hold...

African economies likely to grow 3.4pc this year, AfDB says

African economies likely to grow 3.4pc this year, AfDB says

-- 2021-03-13 13:39:12

African economies are expected to grow by an average of 3.4 per cent this year, the African Development Bank said, as the continent recovers from its worst contraction in half a century. The 54 econo...

Bangladesh government moves on loans for left-out smaller firms

Bangladesh government moves on loans for left-out smaller firms

Ismail Hossain 2021-03-13 08:59:31

The government has started a move to include the small and medium enterprises, which have been left out of the benefit of the government's Covid-19 stimulus for the CMSME sector, in a database to help...

UK economy shrank by less than feared in January

UK economy shrank by less than feared in January

REUTERS 2021-03-12 14:30:07

Britain’s economy shrank by less than feared in January as the country went back into a coronavirus lockdown, official data showed, but trade with the European Union was hit hard at the start of...

Bangladesh aims to raise productivity rate to face global competition

Bangladesh aims to raise productivity rate to face global competition

TALHA BIN HABIB 2021-03-12 13:09:10

The government has prepared a master plan to increase the country's productivity rate in a bid to face the competitive global market, an official said. Under the move, the Ministry of Industries (MoI...

Axe falls on Bangladesh budget following revenue slump

Axe falls on Bangladesh budget following revenue slump

DOULOT AKTER MALA 2021-03-12 11:19:33

The government has downsized the national budget by 5.28 per cent to Tk 5.38 trillion for the current fiscal year, compelled by a significant shortfall in tax collection as the fallout of COVID-19. T...

ECB signals faster money-printing

ECB signals faster money-printing

Reuters 2021-03-12 10:27:04

The European Central Bank said on Thursday it would accelerate money-printing to keep a lid on euro zone borrowing costs, signalling to sceptical markets that it is determined to lay the foundation fo...

Half of Bangladesh's internal migrants jobless: SANEM survey

Half of Bangladesh's internal migrants jobless: SANEM survey

FE REPORT 2021-03-11 09:02:52

About 49 per cent of the pandemic-hit internal migrants returned to their roots last year for massive job cuts, non-payment of wages and decreased salary. According to a SANEM survey, 14 per cent of...

Banking law deters taxmen from accessing depositors' data

Banking law deters taxmen from accessing depositors' data

FE REPORT 2021-03-11 08:24:50

The Banking Secrecy Act is preventing taxmen from obtaining depositors' data by establishing connectivity with the lenders, the head of the revenue board said. Speaking at a pre-budget discussion on...

Singapore's GDP expected to grow 5.8pc in 2021

Singapore's GDP expected to grow 5.8pc in 2021

-- 2021-03-10 14:03:30

The Monetary Authority of Singapore (MAS) has said in a report that economists and analysts polled in the Survey of Professional Forecasters expect Singapore's gross domestic product (GDP) to grow 5.8...

World Bank approves $120m to help Bangladesh improve food security

World Bank approves $120m to help Bangladesh improve food security

-- 2021-03-10 13:29:37

The World Bank has approved 120 million US dollars to help Bangladesh improve food security by enhancing climate resilience and productivity of irrigated agriculture and fisheries. The Climate-Smart...

Bangladesh's trade deficit widens

Bangladesh's trade deficit widens

FE Report 2021-03-10 08:22:28

The country's trade deficit has widened by 1.50 per cent or US$145 million in the first seven months of the current fiscal year (FY) because of rising import payment pressure on the economy, officials...

MCCI alleges higher ‘effective’ tax rates hurt businesses

MCCI alleges higher ‘effective’ tax rates hurt businesses

FE Report 2021-03-10 08:17:06

The Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, on Tuesday alleged withholding taxes were denying the corporate taxpayers the benefits of the cut in their tax rate, made effective in...

Streamlined transport connectivity with India may raise Bangladesh’s national income by 17pc, World Bank says

Streamlined transport connectivity with India may raise Bangladesh’s national income by 17pc, World Bank says

-- 2021-03-09 17:21:29

Smooth transport connectivity between India and Bangladesh has the potential to increase national income by as much as 17 per cent in Bangladesh and 8.0 per cent in India, says a World Bank repor...

NBR cautions field-level VAT officials about data tempering

NBR cautions field-level VAT officials about data tempering

DOULOT AKTER MALA 2021-03-09 09:04:54

The National Board of Revenue (NBR) has now decided to initiate legal proceedings against field-level VAT officials if they are found involved in tampering with the data of Electronic Fiscal Device...

Bangladesh-India trade talks turn barren

Bangladesh-India trade talks turn barren

SYFUL ISLAM 2021-03-09 08:17:40

Bangladesh's proposals have received a lukewarm response from the Indian side at the bilateral meeting on trade issues held in Dhaka on Monday. Dhaka could not derive any concrete result from the m...