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The Financial Express

Search results for: economy

Banks crank up farm credit in six months

Banks crank up farm credit in six months

SIDDIQUE ISLAM 2021-01-31 08:52:51

Farm credit disbursement grew by nearly 12 per cent in the first-half of the current fiscal year, driven by seasonal demand for such loans, officials say. Banks released agricultural credit worth Tk...

Washington ready to engage on WTO reform

Washington ready to engage on WTO reform

Reuters 2021-01-30 11:41:49

The United States is committed to “positive, constructive and active engagement” with all members of the World Trade Organization on reforming the body and is actively considering who to c...

China's lending to Bangladesh surges

China's lending to Bangladesh surges

FHM HUMAYAN KABIR 2021-01-30 09:02:26

China has emerged as one of the leading bilateral development partners of Bangladesh as it disbursed US$460.41 million loans in the first half of the current fiscal year, insiders said on Friday. The...

India seeks Bangladesh presence to probe customs anomalies

India seeks Bangladesh presence to probe customs anomalies

SYFUL ISLAM 2021-01-30 08:50:14

The Indian officials are now seeking permission for physical presence in Bangladesh for investigating any customs-related offences, officials say. They are also seeking information about the assessme...

Sustainable fund assets hit record $1.7tn in 2020

Sustainable fund assets hit record $1.7tn in 2020

-- 2021-01-29 12:24:20

Demand to invest in funds which focus on environmental, social and governance (ESG) issues jumped in 2020, driving assets under management up 29 per cent in the fourth quarter to nearly $1.7 trillion,...

Post-pandemic export basket needs to be diversified: Experts

Post-pandemic export basket needs to be diversified: Experts

FE Report 2021-01-29 10:12:23

Speakers at an international webinar have stressed the need for diversifying the country's export basket and focusing on bilateral free trade agreements to address the challenges of the post-Covid glo...

Bangladesh RMG sector struggles as pandemic empties order books

Bangladesh RMG sector struggles as pandemic empties order books

REUTERS 2021-01-28 13:52:38

Bangladesh’s huge export-oriented readymade garment industry is fighting for its survival after fresh coronavirus curbs in Europe and North America shrivelled already-weakened order books, indus...

BIDA's coordination with stakeholders required to improve business ranking

BIDA's coordination with stakeholders required to improve business ranking

FE Report 2021-01-28 11:04:41

Speakers at a programme on Wednesday said the Bangladesh Investment Development Authority (BIDA) should coordinate more with its stakeholders to do better in the Ease of Doing Business ranking. They...

Dhaka gets 3.0b foreign aid in July-Dec

Dhaka gets 3.0b foreign aid in July-Dec

FHM HUMAYAN KABIR 2021-01-28 10:01:53

Bangladesh received 10 per cent higher foreign aid in the first half of fiscal year (FY) 2020-21 compared with the same period last year, boosted by some large loans, including a budgetary support, of...

Indian customs rules affecting Bangladesh exports clash with SAFTA

Indian customs rules affecting Bangladesh exports clash with SAFTA

DOULOT AKTER MALA 2021-01-28 08:53:09

Rules of origin of the South Asian Free Trade Area (SAFTA) can supersede the provisions of the new Indian customs rules in case any conflicts arise, experts say. The Indian customs (administration of...

Central bank calls for exhausting stimulus funds by March

Central bank calls for exhausting stimulus funds by March

SIDDIQUE ISLAM 2021-01-28 08:44:46

The central bank has asked the banks to exhaust all stimulus packages by March to help revive the economy, battered by Covid-19. The advice was given at a virtual meeting between the bankers and Bang...

Finance minister doesn't believe 42pc Bangladeshis are poor now

Finance minister doesn't believe 42pc Bangladeshis are poor now

FE REPORT 2021-01-28 08:24:16

Finance minister AHM Mustafa Kamal has trashed a recent survey report that showed the country's existing rate of poverty at around 42 per cent. "I don't want to talk about it. You know, it's entirely...

Bangladesh receives $1.45b more remittance through formal channel during pandemic: Study

Bangladesh receives $1.45b more remittance through formal channel during pandemic: Study

FE Online Report 2021-01-27 20:08:14

Bangladeshi migrant workers sent around US$1.45 billion more remittance through formal channel during the COVID-19 period, a study has found. It said the demand for hundi money (informal channel) to...

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

-- 2021-01-27 19:59:32

Money transfers from migrants overseas could rebound to pre-pandemic levels, upending a World Bank forecast of a further slowdown in remittances to developing countries in 2021, according to a new stu...

Bangladesh sets ship export target at $4.0b by 2025

Bangladesh sets ship export target at $4.0b by 2025

-- 2021-01-27 19:42:24

The government has set an export target of $4.0 billion dollars for the country's shipbuilding industry by 2025. In order to help the sector reach the target, the cabinet recently approved ‘Shi...

Central bank set to extend export development fund's enhanced credit limit

Central bank set to extend export development fund's enhanced credit limit

SIDDIQUE ISLAM 2021-01-27 10:59:18

The central bank is set to extend the enhanced credit limit under its Export Development Fund (EDF) scheme for the textiles and clothing exporters by six more months to help boost proceeds from overse...

Global economy threatened by Covid-19 resurgence

Global economy threatened by Covid-19 resurgence

-- 2021-01-27 10:54:26

There is a high risk of a resurgence in coronavirus (Covid-19) infections derailing the world economy this year, according to a firm majority of economists in a Reuters poll, who forecast global GDP w...

Top taxpayers to be honoured

Top taxpayers to be honoured

FE REPORT 2021-01-27 08:53:42

The National Board of Revenue (NBR) has selected a total of 141 taxpayers to recognise the individuals and corporate entities for the highest tax payments in fiscal year 2019-20. The income tax wing...

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

-- 2021-01-26 19:39:45

The International Monetary Fund (IMF) on Tuesday raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn in 2020 would be nearly a full percentage point less...

China, Bangladesh experts advocate ADR to resolve disputes

China, Bangladesh experts advocate ADR to resolve disputes

FE REPORT 2021-01-26 09:12:38

Chinese and Bangladeshi experts during a webinar on Monday favoured using alternative dispute resolution (ADR) to strengthen open account trade for import and export between China and Bangladesh. The...

No to import tax cut on rice, edible oil

No to import tax cut on rice, edible oil

FE Report 2021-01-26 09:07:53

The National Board of Revenue (NBR), on Monday, ruled out any possibility to cut import taxes on rice and edible oil despite the recent price spiral of these two essential commodities. The NBR Chairm...

Relaxed rules show decline in NPLs; banks asked to recover loans from defaulters

Relaxed rules show decline in NPLs; banks asked to recover loans from defaulters

FE REPORT 2021-01-26 08:26:36

Finance minister AHM Mustafa Kamal on Monday said the volume of defaulted loans has decreased in the banking sector due to the simplification of rules and regulations by the central bank. He said the...

China's duty rebate yields little for Bangladesh

China's duty rebate yields little for Bangladesh

SYFUL ISLAM 2021-01-26 08:12:43

The prolonged tariff preferences have hardly helped Bangladesh boost exports to the Chinese market due to narrow product basket, stringent value addition requirement and the lack of competitiveness, s...

Finance minister says number of loan defaulters stands at 334,982

Finance minister says number of loan defaulters stands at 334,982

-- 2021-01-25 17:10:35

Finance Minister AHM Mustafa Kamal has said there are 334,982 loan defaulters in banks and other financial institutions in Bangladesh at present. Kamal highlighted the steps taken by the government f...

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

SM Najmus Sakib 2021-01-25 15:50:06

A new report by the Oxfam said on Monday that it could take more than a decade for the poor people across the globe to recover from the economic losses caused by the coronavirus pandemic. In its...

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Reuters 2021-01-25 14:24:48

Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make it one of the wo...

Bangladesh sees slump in FDI inflow as foreign investment falls worldwide

Bangladesh sees slump in FDI inflow as foreign investment falls worldwide

FE REPORT 2021-01-25 12:53:08

Global inflow of foreign direct investment (FDI) showed a steep fall of US$859 billion in 2020 from $1.5 trillion a year earlier as the fallout of Covid-19, says a UN report. The provisional estimate...

Bangladesh's poverty rate may now be 20-22pc: Minister Mannan

Bangladesh's poverty rate may now be 20-22pc: Minister Mannan

FE Report 2021-01-25 12:35:50

Disagreeing with a recent survey that showed upper poverty rate reaching 42 per cent in the country in December 2020, Planning Minister M A Mannan on Sunday said current poverty rate might be within 2...

Bridges Division to return 43pc of funds for failing to implement projects

Bridges Division to return 43pc of funds for failing to implement projects

FHM Humayan Kabir 2021-01-25 12:35:38

The Bridges Division, failing to implement projects in time, has proposed to surrender more than 43 per cent of its fund allocations in the development budget, officials said on Saturday. The divisio...

Poverty doubles to 42pc; 28.5pc Bangladeshis extremely poor: SANEM survey

Poverty doubles to 42pc; 28.5pc Bangladeshis extremely poor: SANEM survey

FE REPORT 2021-01-24 08:54:30

Upper poverty rate in Bangladesh almost doubled to 42 per cent in December 2020 from 21.6 per cent in 2018 for Covid-19, according to a latest household survey. Lower or extreme poverty rate also inc...