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The Financial Express

Search results for: economy

Pandemic job pain fell unevenly on minorities, the poor

Pandemic job pain fell unevenly on minorities, the poor

-- 2021-02-10 10:08:44

Black workers, women and others in low-paying jobs were more likely to become unemployed during the pandemic, faced greater health risks if they did keep working and are being pushed out of the labour...

Bangladesh's imports picking up

Bangladesh's imports picking up

JASIM UDDIN HAROON 2021-02-10 08:22:38

Bangladesh's imports have started picking up for the first time since the Covid-19 pandemic paralysed the national economy, according to shipping executives. Imports surged in January by 5.0-6.0 pe...

Banks’ non-performing loans shrink, thanks to moratorium

Banks’ non-performing loans shrink, thanks to moratorium

SIDDIQUE ISLAM 2021-02-10 08:13:23

The size of the banks' non-performing loans (NPLs) shrank further at the end of the fourth quarter of 2020. The suspension of the usual practice of classifying loans that had been put into effect by...

Mask making helps rural women earn livelihood 

Mask making helps rural women earn livelihood 

-- 2021-02-09 18:25:13

Amid the tough time of coronavirus, women in Bangladesh's rural areas are making biodegradable, reusable Ella masks from garment scraps to cope with the pandemic-induced new social lifestyle and ensur...

Emerging market central bank rate cuts fade further

Emerging market central bank rate cuts fade further

Reuters 2021-02-09 10:02:04

Emerging market central banks delivered just one interest rate cut in December, signalling the fading out of an easing cycle that had started in 2019 and had exceeded the cuts during the 2008 financia...

Vietnamese firm to charge Tk 140m for continuing support to automated VAT admin

Vietnamese firm to charge Tk 140m for continuing support to automated VAT admin

DOULOT AKTER MALA 2021-02-09 08:24:26

The government will have to pay Tk 140 million to the Vietnamese firm FPT from its own coffer as per contract with the company to avail its support for continuing automated VAT administration after Ju...

SDG attainment would be tough without effective bureaucracy

SDG attainment would be tough without effective bureaucracy

FE REPORT 2021-02-09 08:11:08

Anti-Corruption Commission (ACC) Chairman Iqbal Mahmood on Monday said the achievement of Sustainable Development Goals (SDGs) would be tough without effective and efficient bureaucratic practices. "...

Project aid in pipeline soars to $48b as state agencies fail to utilise funds

Project aid in pipeline soars to $48b as state agencies fail to utilise funds

FHM Humayan Kabir 2021-02-09 08:04:30

The volume of undisbursed project aid (PA) ballooned to more than US$48 billion until December last, as many public agencies failed to utilise the same, officials said on Monday. The amount is more...

Cyclone Amphan, COVID-19 pandemic push shrimp farmers into poverty

Cyclone Amphan, COVID-19 pandemic push shrimp farmers into poverty

-- 2021-02-08 19:46:36

This time last year the west coast of Bangladesh was a thriving place for shrimp farmers. It was a decent enough living and there was a healthy export market. Majnu Sardar, who lives in Koyra upazila...

Interest rate spread widens as small savers hit hard

Interest rate spread widens as small savers hit hard

SIDDIQUE ISLAM 2021-02-08 08:54:31

The interest rate spread widened further in December last as the banks cut the deposit rates deeper than that of the lending rates, bankers have said. The weighted average spread between the lendin...

Customs delay bites Bangladesh businesses

Customs delay bites Bangladesh businesses

DOULOT AKTER MALA 2021-02-08 08:51:01

Businesses are facing delay and counting higher costs while complying with customs documentation at the ports, although the authorities have made significant improvements in recent times. In 50 per c...

Banks can give a maximum of 30pc dividend for 2020

Banks can give a maximum of 30pc dividend for 2020

FE REPORT 2021-02-08 08:45:35

The banking companies would be able to declare maximum 30 per cent dividend, including 15 per cent cash, for the year ended on December 31, 2020. The Bangladesh Bank (BB) has set the limit for the ba...

World Bank okays $40m for Bangladesh to expand e-GP coverage

World Bank okays $40m for Bangladesh to expand e-GP coverage

-- 2021-02-07 17:14:03

The World Bank has approved $40 million to help Bangladesh increase the coverage of electronic government procurement (e-GP) with new features to respond to the COVID 19 challenges. This additio...

Apparel exports to US drop about 12pc in 2020

Apparel exports to US drop about 12pc in 2020

MONIRA MUNNI 2021-02-07 09:51:51

The country's apparel exports to the United States fell by 11.73 per cent to US$ 5.22 billion in 2020 year on year mainly due to the adverse impact of Covid-19 pandemic. Bangladesh fetched $ 5.92 bil...

LDC graduation’s gains to outweigh any losses, says Kamal

LDC graduation’s gains to outweigh any losses, says Kamal

-- 2021-02-06 21:23:26

Finance Minister A H M Mustafa Kamal on Saturday said graduation from the Least Developed Country (LDC) status would be a matter of great honour and pride for the country. "Such pride and prestige ca...

LDC graduation to bring new opportunities, FBCCI president hopes

LDC graduation to bring new opportunities, FBCCI president hopes

FE ONLINE DESK 2021-02-06 19:25:52

FBCCI President Sheikh Fazle Fahim has said Bangladesh would get new facilities in commerce graduating out of the least developed country (LDC). Describing LDC graduation as a big achievement for the...

China's garment industry sees lower revenues in 2020

China's garment industry sees lower revenues in 2020

-- 2021-02-06 14:46:47

China's garment industry registered lower profits and revenue in 2020, data from the Ministry of Industry and Information Technology has shown. Profits of the country's major garment enterprises came...

Nigerian woman set to become WTO’s first female leader

Nigerian woman set to become WTO’s first female leader

-- 2021-02-06 13:49:40

Nigeria’s Ngozi Okonjo-Iweala was poised to become the first African and first woman to lead the embattled World Trade Organization (WTO) after a South Korean rival withdrew on Friday and the Un...

'Many corporations doctor financial statements'

'Many corporations doctor financial statements'

FE REPORT 2021-02-06 10:40:47

Many corporations are learned to manipulate their financial statements through supplying 'false information', which often misleads investors and causes monetary loss to them. Adoption of informatio...

Fast-track projects to undergo review as half of mega schemes go off-track

Fast-track projects to undergo review as half of mega schemes go off-track

FHM Humayan Kabir 2021-02-06 09:46:32

A high-level review of the implementation of government's 'fast-track' projects will take place soon, officials said on Friday. The first-track project monitoring taskforce, headed by principal sec...

Investment decline in productive assets spells trouble for poorer nations

Investment decline in productive assets spells trouble for poorer nations

UNB 2021-02-05 22:56:53

Although developing countries attracted a record share of global foreign direct investment (FDI) in 2020, finance for infrastructure and productive sectors fell significantly, weakening their COVID-19...

India says restructuring export basket a must for growth similar to Bangladesh

India says restructuring export basket a must for growth similar to Bangladesh

-- 2021-02-05 18:31:53

India needs to restructure its export basket on lines of Bangladesh for achieving achieve high growth in exports, says Economic Survey, an annual document of India's Ministry of Finance. It adds that...

Vaccine passports: Towards normality or problem?

Vaccine passports: Towards normality or problem?

-- 2021-02-05 13:24:57

Governments and developers around the world are exploring the potential use of “vaccine passports” as a way of reopening the economy by identifying those protected against the coronavirus....

Regulator suspends commission for non-life insurance agents

Regulator suspends commission for non-life insurance agents

JASIM UDDIN HAROON 2021-02-05 10:31:00

Insurance regulator on Thursday suspended providing all types of commission for the country’s non-life insurance companies. The Insurance Development and Regulatory Authority issued a circular...

Bangladesh government reduces target to borrow from banks

Bangladesh government reduces target to borrow from banks

SIDDIQUE ISLAM 2021-02-05 08:34:00

The government has slashed its bank borrowing target by more than 3.0 per cent to Tk 820 billion for the current fiscal year, compelled by lower implementation of the annual development programme (ADP...

Inflation drops to 5.02pc in January

Inflation drops to 5.02pc in January

UNB 2021-02-03 20:37:40

The rate of inflation declined to 5.02 per cent in January from 5.29 per cent in the previous month (December). “The general point-to-point inflation rate eased to 5.02 per cent in January 2021...

COVID-19 vaccination delay could cost EU economy 90b euros: Study

COVID-19 vaccination delay could cost EU economy 90b euros: Study

Reuters 2021-02-03 18:45:01

The European Union faces a potential 90 billion euro ($108.19 billion) hit to its economy this year unless it catches up with the pace of COVID-19 vaccinations in other regions, a study showed on Wedn...

ECNEC approves Tk 43.47b project to develop Bangabandhu industrial city

ECNEC approves Tk 43.47b project to develop Bangabandhu industrial city

-- 2021-02-03 16:44:50

The Executive Committee of the National Economic Council (ECNEC) today approved a Tk 43.47 billion project to develop the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) as a state-of-the-art and intern...

Goods export growth slows in July-Jan

Goods export growth slows in July-Jan

FE REPORT 2021-02-03 10:03:06

Bangladesh earned $22.67 billion through goods exports in the first seven months of this fiscal, reflecting 1.09 per cent negative growth over the same period of last fiscal. It fetched $22.91 billio...

Bubble in market apprehended as Tk 100b legalised in six months

Bubble in market apprehended as Tk 100b legalised in six months

FE Report 2021-02-03 09:59:24

The opportunity to whiten black money might help a section of political leaders in election financing, but, as far as the economy is concerned, it could prove to be counterproductive, economists and b...