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The Financial Express

Search results for: economy

Bangladesh bets on preferential trade terms to boost export earnings

Bangladesh bets on preferential trade terms to boost export earnings

-- 2020-12-12 17:56:04

As Bangladesh looks forward to graduating out of the least developed country (LDC) status in 2024, it's increasingly emphasising on bilateral preferential trade agreement (PTA) and free trade agreemen...

Padma Bridge to initiate industrial revolution in 21 districts, experts say

Padma Bridge to initiate industrial revolution in 21 districts, experts say

-- 2020-12-12 17:50:31

Bangladesh’s economy will get a huge boost with the expected ‘industrial revolution’ in 21 southwestern districts after the inauguration of the long-cherished Padma Multi-Purpose Bri...

Thailand to boost exports via online trade promotion

Thailand to boost exports via online trade promotion

-- 2020-12-12 12:46:56

Thailand's Ministry of Commerce has unveiled a strategy outline to boost export in 2021 by focusing on online trade promotion activities. "We will arrange an online business match-making every week o...

Dhaka likely to receive $1.0b WB, ADB funds for purchasing corona vaccine

Dhaka likely to receive $1.0b WB, ADB funds for purchasing corona vaccine

FHM HUMAYAN KABIR 2020-12-12 10:34:00

Two major lenders are expected to provide US$1.0 billion in loans to help Bangladesh procure Covid-19 vaccines, officials said on Friday. Both the World Bank (WB) and the Asian Development Bank (AD...

Bangladesh's imports may be costlier due to freight charges

Bangladesh's imports may be costlier due to freight charges

JASIM UDDIN HAROON 2020-12-12 08:53:15

The global shipping crisis has fuelled freight charges, thus making the country's imported items costlier, businesses said on Friday. Shipping schedules around the world were disrupted by the pandemi...

ADB launches $9b Covid-19 vaccine facility for developing Asia

ADB launches $9b Covid-19 vaccine facility for developing Asia

Reuters 2020-12-11 15:59:22

The ability of developing countries in Asia to fight the coronavirus pandemic got a much-needed boost after the Asian Development Bank said on Friday it has launched a $9 billion facility to help na...

BB imposes additional 1.0pc general provision against unclassified loans

BB imposes additional 1.0pc general provision against unclassified loans

SIDDIQUE ISLAM 2020-12-11 11:08:43

The central bank has imposed an additional 1.0 per cent general provision against all unclassified loans aiming to improve financial health along with the shock-absorbing capacity of banks, officials...

Dhaka needs to join RCEP or enter a deal, suggest stakeholders

Dhaka needs to join RCEP or enter a deal, suggest stakeholders

FE REPORT 2020-12-11 10:48:33

Experts and analysts during a webinar on Thursday said Bangladesh may face challenges in attracting foreign direct investment (FDI) for formation of China-led Regional Comprehensive Economic Partnersh...

Pandemic era poor be covered by safety schemes, analysts ask govt

Pandemic era poor be covered by safety schemes, analysts ask govt

FE REPORT 2020-12-11 10:36:10

The government needs to enhance the coverage of social protection by adding new poor to the new plans for tackling the second wave of coronavirus, experts said on Thursday. For proper execution of th...

Banks face post-pandemic four more years of lower profits: Report

Banks face post-pandemic four more years of lower profits: Report

Reuters 2020-12-11 10:23:19

Most banks around the world could face four more years of depressed profits in the aftermath of the Covid-19 pandemic, consulting firm McKinsey & Co said in a report. By 2024 the pandemic will re...

Bangladeshi banks see no competitive atmosphere, says ex-governor

Bangladeshi banks see no competitive atmosphere, says ex-governor

FE REPORT 2020-12-11 10:23:17

Former governor of Bangladesh Bank Dr Mohammed Farashuddin on Thursday said the country's private commercial banks are dictating banking policies. He also held responsible the domination of private b...

Tk 276b shortfall in NBR's tax earning in five months

Tk 276b shortfall in NBR's tax earning in five months

DOULOT AKTER MALA 2020-12-11 09:32:28

The revenue authority faced a Tk 275.56 billion shortfall in tax collection until November of the current fiscal year against its target due to sluggish economic activities amid the Covid-19 pandemic....

Policymakers urged to shun 'growth obsession’, address inequality instead

Policymakers urged to shun 'growth obsession’, address inequality instead

FE REPORT 2020-12-11 08:55:47

Speakers at a discussion on Thursday urged the government to redefine the development strategy from the economic growth-centric paradigm to reducing inequality and disparity. They have suggested maki...

‘Reference point’ for Dutch-Bangladesh investment collaboration launched   

‘Reference point’ for Dutch-Bangladesh investment collaboration launched  

FE ONLINE REPORT   2020-12-10 23:15:35

A new study has identified a number of key areas for entrepreneurial engagements between Bangladesh and the Netherlands, to scale up bilateral development cooperation. The Bangladesh Embassy in the N...

Rights groups call on high-income countries to back TRIPS waiver proposal

Rights groups call on high-income countries to back TRIPS waiver proposal

FE Online Report 2020-12-10 14:15:58

Two prominent global rights groups on Thursday called on the European Union and high-income countries including USA, Canada, Japan, and UK to urgently support the TRIPS corona waiver proposal and ensu...

ADB narrows 2020 GDP growth forecast for developing Asia to 0.4pc

ADB narrows 2020 GDP growth forecast for developing Asia to 0.4pc

-- 2020-12-10 13:01:37

Economic activity in developing Asia is forecast to contract by 0.4 per cent this year before picking up to 6.8 per cent in 2021 as the region moves toward recovery from the effects of the coronavirus...

IMF fund debt freeze for poor countries expected to be extended through 2021

IMF fund debt freeze for poor countries expected to be extended through 2021

Reuters 2020-12-10 10:19:04

International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday that she expects an IMF programme that freezes payments on IMF debt from the poorest countries to be extended throu...

Bangladesh's 90pc extreme poor families earn less than 1.0 dollar a day

Bangladesh's 90pc extreme poor families earn less than 1.0 dollar a day

FE REPORT 2020-12-10 08:45:53

As much as 90 per cent extreme-poor families have a paltry monthly income of Tk 2,000 (US$23.80). The World Bank (WB) considers an individual living on or below $1.25 per day as extreme poor. Furthe...

Banks fail to disburse over 50pc of stimulus funds to small businesses

Banks fail to disburse over 50pc of stimulus funds to small businesses

-- 2020-12-09 18:52:38

A full recovery of the economy from the coronavirus crisis is still uncertain as more than half the funds from stimulus package for the cottage, micro, small and medium enterprises (CMSMEs) remain und...

UNCTAD predicts biggest fall in merchandise trade since 2009

UNCTAD predicts biggest fall in merchandise trade since 2009

UNB 2020-12-09 17:50:01

The value of global merchandise trade is predicted to fall by 5.6 per cent in 2020 compared with last year, according to UNCTAD's latest nowcasts. This would be the biggest fall in merchandise trade...

Pandemic slows safety reforms in Bangladesh's ship-breaking industry

Pandemic slows safety reforms in Bangladesh's ship-breaking industry

-- 2020-12-09 17:18:21

The coronavirus pandemic has slowed efforts to make safer the often hazardous job of dismantling old ships in Bangladesh, officials said, following the latest worker fatality. Covid-19 temporarily sh...

Janata Bank in US makes no headway in recovering stolen money

Janata Bank in US makes no headway in recovering stolen money

FE Online Desk 2020-12-09 17:11:48

A subsidiary of the state-owned Janata Bank in New York, which lost $603,947 equivalent to Tk 51 million sometime before February 2020, is yet to recover the money allegedly stolen by a hired officer....

CPD stresses domestic resource mobilisation in eighth FYP

CPD stresses domestic resource mobilisation in eighth FYP

-- 2020-12-08 21:00:15

The Centre for Policy Dialogue (CPD) has underscored the need for providing a special focus on strengthening domestic resource mobilisation in the Eighth Five-Year Plan (8th FYP) to address Covid-19 c...

Narayanganj-Munshiganj two-storey expressway gets ECNEC approval

Narayanganj-Munshiganj two-storey expressway gets ECNEC approval

-- 2020-12-08 17:43:52

The government will construct a two-storey expressway from Panchabati of Narayanganj to Muktarpur Bridge of Munshiganj with an expenditure of Tk 22.28 billion. The Executive Committee of the National...

Four export sectors to get $40m government grant to overcome infrastructural limits

Four export sectors to get $40m government grant to overcome infrastructural limits

FE Online Report 2020-12-08 16:49:40

The government will launch a new financial grant worth US$40 million on Wednesday to help four export-oriented sectors address the infrastructural constraints. The Public Investment Facility for Infr...

More than 110,000 US restaurants permanently close amid pandemic

More than 110,000 US restaurants permanently close amid pandemic

-- 2020-12-08 15:43:10

As of Monday, more than 110,000 US restaurants have completely closed amid the coronavirus (Covid-19) pandemic, according to the National Restaurant Association. "The vast majority of permanently clo...

ADB approves $50m to help microenterprises in Bangladesh

ADB approves $50m to help microenterprises in Bangladesh

-- 2020-12-08 15:17:25

The Asian Development Bank (ADB) has approved a 50-million US dollar loan to help restore the economic activities of microenterprises in Bangladesh, which have been severely affected by the coronaviru...

Singapore to host WEF’s annual meeting instead of Switzerland

Singapore to host WEF’s annual meeting instead of Switzerland

-- 2020-12-07 23:14:20

The World Economic Forum’s annual gathering of political and business leaders will move from Switzerland to Singapore next year as the COVID-19 pandemic would make it challenging to host the eve...

Malaysia sees 78.6pc drop in tourist arrivals

Malaysia sees 78.6pc drop in tourist arrivals

-- 2020-12-07 14:02:55

Malaysia Tourism Promotion Board has said that the country's tourist arrivals in January to September this year had slumped 78.6 per cent to 4.3 million from 20.1 million a year ago, as the spread of...

Banks to struggle with heavier burden of bad loans in 2021, beyond

Banks to struggle with heavier burden of bad loans in 2021, beyond

SIDDIQUE ISLAM 2020-12-07 08:56:37

Banks are going to face substantial pressure originating from an ever-bulging defaulted loans in the next years as the regulatory support in this particular area is due to expire by the end of this ca...