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The Financial Express

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Private credit growth falls remarkably amid second wave of Covid

Private credit growth falls remarkably amid second wave of Covid

SIDDIQUE ISLAM 2021-07-09 08:36:52

Private-sector credit growth dropped significantly in May mainly due to the ongoing second wave of the Covid-19 pandemic in Bangladesh, according to bankers. Credit flow fell to 7.55 per cent in Ma...

Disrupted food systems in South Asia led to resilience building policies   

Disrupted food systems in South Asia led to resilience building policies  

UNB 2021-07-08 18:17:29

The severe health and economic impacts of the COVID-19 pandemic have disrupted food systems and upended livelihoods in South Asia, but it has also led to policies aimed at building resilient food syst...

Vaccination leads to faster than expected EU economic recovery

Vaccination leads to faster than expected EU economic recovery

-- 2021-07-08 15:03:25

The European economy is recovering better than previously expected, thanks to the roll-out of vaccination campaigns and effective containment measures, said European Commissioner for Economy Paolo Gen...

Indian tycoons face off in race to green energy domination

Indian tycoons face off in race to green energy domination

Reuters 2021-07-08 14:19:00

Indian tycoon Mukesh Ambani's $10 billion entry into renewable energy could drive solar tariffs further to the ground and ignite bidding wars with fellow billionaire Gautam Adani, industry analysts sa...

Bangladeshi poor bear over 12pc burden of VAT: Study

Bangladeshi poor bear over 12pc burden of VAT: Study

FE REPORT 2021-07-08 08:33:32

Value-added tax (VAT) is an injustice for the poor in Bangladesh as they have to shoulder the burden of 12.1 per cent of the regressive tax on their income. A study styled 'Aid to Pro-poor Domestic R...

Indonesia's forex reserves climb to $137.1 billion in June

Indonesia's forex reserves climb to $137.1 billion in June

-- 2021-07-07 12:35:29

Indonesia's foreign exchange reverses rose slightly to 137.1 billion US dollars in June following the issuance of the Government Global Sukuk and tax and services receipts, Executive Director of the C...

Record amount of illicit money legalised

Record amount of illicit money legalised

DOULOT AKTER MALA 2021-07-07 08:31:04

A total of 11,859 people whitened their black money worth Tk 206 billion under a blanket opportunity in the just concluded fiscal year (FY). It is the highest amount of undisclosed money legalised si...

Bangladesh prepares to face challenges after transition from LDC

Bangladesh prepares to face challenges after transition from LDC

-- 2021-07-06 18:57:06

Bangladesh is focusing on bilateral free and preferential trade deals as a strategy to overcome the possible losses of global trade concessions after its graduation to a developing economy. Studies o...

Rural India sinks deeper into debt as pandemic wipes out work

Rural India sinks deeper into debt as pandemic wipes out work

REUTERS 2021-07-06 12:54:01

Asha Devi doesn't remember how many meals she has skipped as she struggles to feed her family of seven in a remote corner of northern India where the novel coronavirus is compounding old problems of r...

Bangladesh sets $51 billion export target for FY 2021-22

Bangladesh sets $51 billion export target for FY 2021-22

FE ONLINE REPORT 2021-07-06 12:21:52

The government has announced an export earnings target of US$ 51 billion projecting a 12.37 per cent year-on-year growth for the fiscal year of 2021-22. Of the target, US$ 43.50 billion will come fro...

Trade deficit to cross $20 billion in FY21

Trade deficit to cross $20 billion in FY21

FE Online Report 2021-07-06 08:24:32

The country’s merchandise trade deficit with the rest of the world is set to cross $20 billion in the immediate past fiscal year (FY21) as the deficit already stood at $19.84 billion in the July...

'Hard' lockdown hits hard the Bangladesh poor

'Hard' lockdown hits hard the Bangladesh poor

Jubair Hasan and Talha Bin Habib 2021-07-06 08:13:17

The ongoing hard lockdown, which is seen essential to contain both Covid fatalities and infections, has again hit the poor and low-income people hard. In fact, the restrictions on movement of people...

Remittance inflow witnesses over 36pc growth in FY’21

Remittance inflow witnesses over 36pc growth in FY’21

FE Online Report 2021-07-05 17:45:12

The inflow of remittance grew by over 36 per cent to a record $24.78 billion in the just-concluded fiscal year (FY) despite the ongoing Covid-19 pandemic, officials said. The figure jumped from $18.2...

First-time importers may not use green, blue channels

First-time importers may not use green, blue channels

FE REPORT 2021-07-05 09:10:27

First time importers may not be able to enjoy goods clearance facility through green and blue channels of the customs stations or land-ports with a view to countering tax evasion. Such importers oft...

Bangladesh's tax revenue posts 17pc growth

Bangladesh's tax revenue posts 17pc growth

DOULOT AKTER MALA 2021-07-05 08:42:59

Despite economic slowdown due to the Covid-19 pandemic, revenue collection posted a 17 per cent growth in the just-concluded fiscal year (FY) over that of the previous FY thanks to the contribution of...

Amazon, Tata raise concerns about India's e-commerce rules

Amazon, Tata raise concerns about India's e-commerce rules

-- 2021-07-04 10:23:31

Amazon.com Inc and India's Tata Group have warned government officials that the plans for tougher rules for online retailers would have a major impact on their business models, four sources familiar w...

Bangladesh's apparel exports to US claw back

Bangladesh's apparel exports to US claw back

FE REPORT 2021-07-04 08:47:41

Country's apparel exports to the United States bounced back during the first five months of this calendar year, registering a double-digit growth both in terms of value and volume compared to the same...

More than 40pc of VAT Online Project funds unspent

More than 40pc of VAT Online Project funds unspent

DOULOT AKTER MALA 2021-07-03 08:44:17

Nearly 43 per cent or Tk 3.0-billion funds of the much-talked-about VAT Online Project (VOP) remained unspent even after the end of its tenure this June 30. Officials said the project underspent the...

Apparel export orders shifting from India, Myanmar to Bangladesh

Apparel export orders shifting from India, Myanmar to Bangladesh

FHM HUMAYAN KABIR 2021-07-03 08:22:37

The military coup in Myanmar and a grave Covid-19 situation in India have proved to be a boon to Bangladesh's apparel industry. Some export orders from these countries are now shifting to Bangladesh,...

130 countries support global minimum tax of 15pc

130 countries support global minimum tax of 15pc

-- 2021-07-02 09:44:57

Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15 per cent, they...

New Development Bank asked to expedite Bangladesh's membership

New Development Bank asked to expedite Bangladesh's membership

FE Report 2021-07-02 09:00:59

Bangladesh has called on the New Development Bank (NDB) to expedite awarding its membership of the Shanghai-based multilateral lending institution, officials said. Finance Minister AHM Mustafa Kama...

Canada's real GDP contracted 0.3pc in April

Canada's real GDP contracted 0.3pc in April

-- 2021-07-01 13:01:37

Canada's real gross domestic product (GDP) shrank 0.3 per cent in April 2021, according to Statistics Canada on Wednesday. The total value of all the goods and services produced in Canada's economy s...

Corporate tax receipts exceed target

Corporate tax receipts exceed target

DOULOT AKTER MALA 2021-07-01 08:43:49

The tax authority has surpassed its target for tax collection from large taxpayers in the just-concluded fiscal year (FY), thanks to the money whitening scheme and withholding tax collection. Accor...

Parliament passes Tk 6.04 trillion budget for FY22

Parliament passes Tk 6.04 trillion budget for FY22

-- 2021-06-30 18:03:44

The parliament has passed a Tk 6.04 trillion budget for the 2021-22 fiscal year starting on July 1. The budget passed by voice vote during a parliamentary session chaired by Speaker Shirin Sharmin Ch...

Nazneen Ahmed joins UNDP as Country Economist

Nazneen Ahmed joins UNDP as Country Economist

-- 2021-06-30 17:19:37

Dr. Nazneen Ahmed has joined the United Nations Development Programme (UNDP), Dhaka Office as the Country Economist. She will provide policy and strategic advice on various activities of UNDP Banglad...

International tourism may not fully rebound until 2023: UN Report

International tourism may not fully rebound until 2023: UN Report

Reuters 2021-06-30 12:09:02

International tourism arrivals are set to stagnate this year, except in some Western markets, causing up to $2.4 trillion in losses, a UN study said on Wednesday, adding the sector is not expected to...

Higher bank borrowing likely in July

Higher bank borrowing likely in July

Siddique Islam 2021-06-30 08:41:08

The government is set to start fiscal year (FY) 2021-22 with a higher bank borrowing target for July to adjust expenditure in June and partly finance budget deficit. It may take up to Tk 206.50 billi...

Workers lost one-third of income in one year: Study

Workers lost one-third of income in one year: Study

FE REPORT 2021-06-30 08:36:48

Low-income people especially returnee migrant workers and urban informal workers have lost at least one-third of their income in one year compared to the pre-pandemic period, according to a study unve...

Black money whitening scope remains, though on harder terms

Black money whitening scope remains, though on harder terms

DOULOT AKTER MALA 2021-06-30 08:24:34

Parliament on Tuesday passed the Finance Bill-2021, amending a few of its original provisions. The lawmakers vetted continuation of the controversial opportunity to legalise undeclared income during...

BEZA appoints PwC to prepare ICT roadmap for Mujib Shilpanagar

BEZA appoints PwC to prepare ICT roadmap for Mujib Shilpanagar

FE ONLINE REPORT 2021-06-29 19:09:19

Bangladesh Economic Zone Authority (BEZA) inked a contract agreement with UK-based PricewaterhouseCoopers (PwC) for making ICT roadmap and experience centre design for Bangabandhu Sheikh Mujib Shilpan...