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The Financial Express

Search results for: economy

WB unlikely to lift lending for BD

FHM HUMAYAN KABIR January 14, 2020 10:09:11

The World Bank, or WB, is likely to provide US$4.50 billion in loans to Bangladesh over the next three-years, officials said on Monday, the same level as the current portfolio. Although the total aid...

BB gets new director

FE Online Report January 13, 2020 14:44:14

The government has appointed Nazrul Huda, a former deputy governor of the central bank, as a member of Bangladesh Bank's Board of Directors.  With 35 years of central banking experience, Mr Huda...

Get policy right to develop non-apparel sectors

FE REPORT January 13, 2020 11:02:21

Leather and footwear, plastics and light engineering have been identified as the potential sectors, which can help diversify the country's export basket. The sectors will also create greater access t...

US imposes more sanctions on Iran

-- January 11, 2020 11:33:52

The United States has imposed more sanctions on Iran in retaliation for its missile attack on US forces in Iraq this week. The US on Friday also vowed to tighten the economic screws if Tehran continu...

Deficit financing widens by 130pc in four months

JASIM UDDIN HAROON January 11, 2020 09:53:25

The government's deficit financing grew by 130 per cent in the first four months of the current fiscal year compared to that of the same period of last fiscal, driven by a fall in resource mobilisatio...

China's economy to maintain steady growth in 2020

Xinhua January 10, 2020 18:26:32

China is capable of maintaining steady economic growth in the year to come and beyond, buoyed by multiple driving forces, despite mounting downward pressure, economists have said. "The gross domestic...

WB projects 7.2pc GDP growth for Bangladesh in FY20

UNB January 10, 2020 17:13:29

The World Bank has projected 7.2 per cent GDP growth for Bangladesh in the current fiscal year, FY 2019-20, while 7.3 per cent in the following fiscal year. Bangladesh, the third-largest economy in t...

Weekly jobless claims fall to 214,000

-- January 10, 2020 15:13:33

The number of initial jobless claims in the United States dropped last week, according to a report released by the US Bureau of Labor Statistics on Thursday. The number of people filing for US unempl...

NBR cancels transfer, posting, promotion of 350 officials

FE Report January 10, 2020 10:33:32

The National Board of Revenue (NBR) has cancelled all the orders and circulars for transfer, posting and promotion of nearly 350 officials of the customs, VAT and income tax wings. The NBR cancelle...

100,000 Bangladeshi workers deported from abroad in 2019

ARAFAT ARA January 10, 2020 10:08:00

More than 100,000 Bangladeshi workers were sent back from abroad last year due to a host of reasons such as overstay and scarce jobs. Of the total, some 62,000 workers were deported from different co...

Global growth to recover to 2.5pc in 2020: WB

Xinhua January 09, 2020 16:59:53

Global economic growth is projected to recover to 2.5 per cent in 2020, up slightly from the post-crisis low of 2.4 per cent registered in 2019, but downside risks persist, the World Bank said on Wedn...

US oil imports up, exports down last week: EIA

-- January 09, 2020 15:50:41

US crude oil imports increased while exports decreased during the week ending Jan. 3, the US Energy Information Administration (EIA) said on Wednesday. US crude oil imports averaged 6.73 million barr...

BB releases e-KYC guideline

JASIM UDDIN HAROON January 09, 2020 11:37:51

The central bank of Bangladesh issued a circular on Wednesday pertaining to e-KYC (know your customer) applied to the country's financial institutions. The Bangladesh Bank (BB) released an e-KYC gu...

BD has enough room to gain in IT era, says economist

FE REPORT January 09, 2020 11:33:36

Emerging economies like Bangladesh can benefit to a great extent from the rapid global changes against backdrop of information technology (IT)-based services, Italian economist Nicolo Andreula has obs...

Only six China-funded projects roll so far

MIR MOSTAFIZUR RAHAMAN January 09, 2020 09:53:12

After a lapse of three years into signing a deal with China for executing $20 billion worth of 27 projects, only six has got going as of December 2019. Even Bangladesh has received only $904.50 milli...

Italy's overall tax burden drops slightly

-- January 08, 2020 13:29:54

The overall tax burden in Italy dipped slightly over the first nine months of last year compared to the same period in 2018, according to Italy's National Institute of Statistics. The institute also...

Trade deficit ups slightly in July-Nov

FE Online Report January 08, 2020 12:30:39

Country’s bilateral trade deficit with the rest of the world increased slightly in the first five months of the current fiscal year (FY20), according to the provisional statistics of the centr...

1.0pc cash incentive on FoB for RMG exporters

FE Report January 08, 2020 11:17:21

All readymade garment (RMG) exporters will receive 1.0 per cent cash incentive on freight on board (FoB) with effect from July 01, 2019. To this end, Bangladesh Bank issued a circular on Tuesday. Th...

ADP execution 26pc in first half

FE REPORT January 08, 2020 10:39:28

The government agencies' execution of projects in the first half of this fiscal is poor as they spent only 26 per cent of the annual development programme (ADP). They utilised 27 per cent of the Tk 1...

Average inflation up, marginally, in 2019

FE REPORT January 08, 2020 10:07:08

The average inflation rate has increased by 0.04 percentage points for the 12 months in the just-concluded year 2019 to 5.59 per cent due to some volatility in commodity markets in the country, offici...

H1 corporate taxes from large units miss target by Tk 5.67b

DOULOT AKTER MALA January 08, 2020 09:50:45

At least five large commercial banks paid less in corporate tax in the last fiscal year than that of the previous year, thus, adding to the woes of the National Board of Revenue (NBR). The five were...

Govt sets RMG export target at $50b in FY21

BSS January 07, 2020 16:35:38

The government has set a target of $50.0 billion readymade garment (RMG) export in 2020-21 fiscal year in line with its commitment to enhance earnings from the sector in the ruling Awami League’...

Facing Brexit unknowns, UK financial sector pays record taxes

REUTERS January 07, 2020 15:41:34

Britain’s financial industry paid a record near-$100 billion in taxes in the year to March, reaffirming its central role in funding the state at a time when its future prospects have been cloude...

Living cost rises 6.5pc in 2019: CAB

FE Online Report January 07, 2020 13:05:02

Living costs increased by 6.5 per cent in Dhaka in the just ended calendar year 2019, which was 6.0 per cent in 2018, Consumers Association of Bangladesh (CAB) study has revealed. According to the st...

Vietnam's industrial production rises 8.86 pc in 2019

-- January 07, 2020 12:19:38

Vietnam's national index of industrial production rose 8.86 per cent on-year in 2019, the country's General Statistics Office announced on Tuesday. Main driver of the surge, the processing and manufa...

Tibet's GDP grows 9pc in 2019

-- January 07, 2020 12:13:18

The gross domestic product (GDP) in southwest China's Tibet Autonomous Region grew about nine per cent in 2019. Tibet's GDP was estimated at more than 160 billion yuan (around 23 billion US dollars)...

VAT waiver of land mutation fees likely

FE REPORT January 07, 2020 10:49:11

The government is considering exempting 15 per cent VAT on land mutation fees as its justification has come into question. There is one kind of tax, which the local government department collects as...

After reserves, hackers now target export proceeds

FE Report January 07, 2020 10:16:55

The central bank has asked all banks to remain cautious about fraudulent emails, seeking transfer of export payment from foreign buyers. Bangladesh Bank, in a notice issued on Sunday, said besides do...

Taiwan Dec export growth seen slowing: Reuters poll

-- January 06, 2020 14:55:12

Taiwan’s exports likely grew at a slower pace in December, after beating expectations with a 3.3 per cent on-year increase in the prior month, according to a Reuters poll. Taiwan is one of Asia...

BOJ to conduct policy carefully over Iran tensions

-- January 06, 2020 14:50:40

Bank of Japan (BOJ) Governor Haruhiko Kuroda has said the central bank would conduct monetary policy “carefully” while scrutinising overseas economic risks, such as escalating tensions bet...