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The Financial Express

Search results for: economy

BB slashes CRR to 2.0pc for OBO

BB slashes CRR to 2.0pc for OBO

Siddique Islam 2020-06-19 09:22:17

The central bank has slashed cash reserve ratio (CRR) by 200 basis points to 2.0 per cent only from existing level of 4.0 per cent for the offshore banking operation (OBO) in Bangladesh. Under the...

VAT changes 'disaster' for businesses

VAT changes 'disaster' for businesses

FE REPORT 2020-06-19 09:17:37

Business leaders alleged on Thursday that the changes in VAT measures in the budget have turned the relevant law into a business-unfriendly statute. They said the 2012 VAT law has been transformed in...

COVID-19: Delay in mobilisation of equipment hindering ADP projects

COVID-19: Delay in mobilisation of equipment hindering ADP projects

FE ONLINE REPORT 2020-06-18 20:43:49

Mobilisation of equipment worth Tk 4.0 billion for implementing different development projects has been delayed due to communication disruption amid coronavirus pandemic.     State Min...

DSE brokers for reconsidering four budget proposals

DSE brokers for reconsidering four budget proposals

FE ONLINE REPORT 2020-06-18 12:26:19

The DSE Brokers Association urged the government to reconsider four proposals in the final budget, including reduction of AIT of its members to 0.015 per cent from the existing 0.05 per cent to surviv...

ADB projects 0.1pc GDP growth for Asia in 2020

ADB projects 0.1pc GDP growth for Asia in 2020

-- 2020-06-18 11:53:03

Developing Asia will barely grow in 2020 as containment measures to address the Covid-19 pandemic hamper economic activity and weaken external demand, according to an updated Asian Development Bank (A...

BD economy expected to grow 7.5pc in FY2021: ADB

BD economy expected to grow 7.5pc in FY2021: ADB

-- 2020-06-18 10:13:06

Bangladesh's gross domestic product is expected to grow by 4.5 per cent in fiscal year 2020 and 7.5 per cent in fiscal year 2021, according to an Asian Development Bank report. The economy in Banglad...

BD-Bhutan PTA likely by Aug 30

BD-Bhutan PTA likely by Aug 30

FE REPORT 2020-06-18 10:03:04

Preferential Trade Agreement (PTA) between Bangladesh and Bhutan is in the final stage and it is likely to be signed by August next to increase bilateral trade between the two countries. All kinds...

BB prods banks over stimulus

BB prods banks over stimulus

FE REPORT 2020-06-18 09:38:26

The central bank has asked the commercial banks to take effective measures to implement the government-announced stimulus packages immediately to help revamp the country's overall economic activities....

Qatar Airways temporarily closes its Bangladesh office

Qatar Airways temporarily closes its Bangladesh office

FE Online Desk 2020-06-17 20:59:01

Qatar Airways has temporarily closed its Bangladesh office to maintain social distancing and requested all passengers to call or email (Tel:+97440222200, qrmedia@qatarairways.com.qa) to help with thei...

Experts term proposed budget ‘unrealistic and fictional’

Experts term proposed budget ‘unrealistic and fictional’

FE Online Report 2020-06-17 19:53:55

  Experts term proposed budget ‘unrealistic and fictional’     Experts at a post-budget meeting on Wednesday, termed the proposed budget ‘most unrealistic’ a...

British inflation hits four-year low

British inflation hits four-year low

-- 2020-06-17 16:20:59

British inflation fell to its lowest since June 2016 last month as the coronavirus pandemic sucked demand from the global economy and oil prices tumbled. Consumer price inflation slowed to 0.5 per ce...

Major dev projects need special allocation to tackle Covid-19

Major dev projects need special allocation to tackle Covid-19

MUNIMA SULTANA 2020-06-17 10:38:39

An allocation has been necessary to prevent the spread of coronavirus on the construction sites of major development projects including mega and fast-track ones aiming to keep the progress of those up...

Proposed budget traditional: IBFB

Proposed budget traditional: IBFB

FE REPORT 2020-06-17 10:27:25

The International Business Forum of Bangladesh (IBFB) has termed the proposed budget as usual one at an unusual time. "We did not get a budget we expected during the corona virus crisis period. It's...

SC stays most of the HC directives on treatment of non-Covid patients

SC stays most of the HC directives on treatment of non-Covid patients

FE REPORT 2020-06-17 10:12:14

The Appellate Division of the Supreme Court on Tuesday mostly stayed a High Court order that said if any government or private hospital or clinic shows any medical negligence to any serious patient...

NBR may target private staffers' nest egg

NBR may target private staffers' nest egg

Doulot Akter Mala 2020-06-17 09:27:17

Private sector employees, who have received gratuity as retirement benefit in the outgoing fiscal year, may have to pay taxes on it. The National Board of Revenue or NBR has imposed taxes on retirees...

Global FDI to contract by 40pc this year: UNCTAD

Global FDI to contract by 40pc this year: UNCTAD

-- 2020-06-16 16:25:01

Global foreign direct investment (FDI) flows are forecast to decrease by up to 40 per cent in 2020, and further by 5 to 10 per cent in 2021, before recovering in 2022, said a United Nations report Tue...

South Korea's foreign currency deposit keeps rising for three months

South Korea's foreign currency deposit keeps rising for three months

-- 2020-06-16 13:59:03

South Korea's foreign currency deposit kept rising for three straight months as companies secured the US dollar liquidity on worry about an economic fallout from the coronavirus (COVID-19) outbreak, c...

Renewables 'neglected' in proposed budget

Renewables 'neglected' in proposed budget

SYFUL ISLAM 2020-06-16 09:49:18

The renewable energy sector has received a 'very cold' response from the government in the proposed budget for the next fiscal year, stakeholders say. Apart from granting value-added tax (VAT) exempt...

Budget funding: Borrow from foreign sources, not banks

Budget funding: Borrow from foreign sources, not banks

FE REPORT 2020-06-16 09:38:36

The government should negotiate with international financial organisations on low cost loans to meet the budget deficit for fiscal 2020-2021 instead of putting additional pressure on troubled local...

Move to ease burden on small taxpayers

Move to ease burden on small taxpayers

Doulot Akter Mala 2020-06-16 09:35:41

Individual taxpayers with gross assets lower than Tk 4.0 million will not be required to submit wealth statement in tax returns. The Finance Bill-2020, placed in parliament on June 11, has incorpor...

Loan defaulters get Sept lifeline

Loan defaulters get Sept lifeline

-- 2020-06-15 22:06:20

Borrowers have been given until September to repay instalments to banks before their loans are classified as bad debts. Bangladesh Bank on Monday issued a circular extending the timeframe during whic...

'Implementing budget bigger challenge during pandemic'

'Implementing budget bigger challenge during pandemic'

FE Online Report 2020-06-15 20:42:21

Implementing a budget is always challenging, especially during this pandemic, and it is not possible to say yet whether the proposed budget for fiscal year 20-21 reflects the understandings, the aspir...

India's wholesale inflation at -3.21 pc in May

India's wholesale inflation at -3.21 pc in May

-- 2020-06-15 16:16:56

India's wholesale price index (WPI) contracted by 3.21 per cent in May, data released by the federal commerce and industry ministry on Monday said. "The annual rate of inflation, based on monthly WPI...

Covid-19 pandemic: BAB issues 13-point recommendation for member banks

Covid-19 pandemic: BAB issues 13-point recommendation for member banks

FE Online Report 2020-06-15 14:59:43

Bangladesh Association of Banks (BAB) has issued a 13-point recommendation, including reduction of salary of its member banks’ staff for the next 18 months. The BAB, a forum of the country&rsqu...

Indonesia's trade balance back to surplus in May

Indonesia's trade balance back to surplus in May

-- 2020-06-15 14:25:34

Indonesia's trade performance was back to a surplus in May as the plunge of imports exceeded the decline in exports when the novel coronavirus pandemic has depressed demands and weakened economic acti...

Wooing investment: BPGMEA seeks tax holiday

Wooing investment: BPGMEA seeks tax holiday

FE REPORT 2020-06-15 11:17:02

The local plastic goods makers' body in its post-budget reaction has sought tax holiday to attract more investment in the sector. The Bangladesh Plastic Goods Manufacturers and Exporters Association...

ADB okays $100m loan for rural road dev in BD

ADB okays $100m loan for rural road dev in BD

-- 2020-06-15 10:53:52

The Asian Development Bank (ADB) has approved a $100 million loan to expand the coverage of an ongoing rural road network improvement project in Bangladesh, connecting the rural population to agricult...

Asian stocks, oil fall as second wave fears grow

Asian stocks, oil fall as second wave fears grow

REUTERS 2020-06-15 10:37:57

Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China furth...

Implementation of budget key challenge, says Razzaque

Implementation of budget key challenge, says Razzaque

FE REPORT 2020-06-15 10:09:49

The implementation of the proposed budget for fiscal year 2020-21 is a major challenge, said a senior minister of the incumbent government on Sunday. "I must say that the budget is very challenging,"...

NBR expects Tk 110b in additional taxes

NBR expects Tk 110b in additional taxes

Doulot Akter Mala 2020-06-15 09:30:35

Four new fiscal measures, including taxes on cigarettes and mobile phone use, are expected to fetch nearly Tk 110 billion in additional VAT and excise duty in the upcoming fiscal year. The National B...