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The Financial Express

Search results for: economy

Myanmar coup to dampen US trade, impact footwear companies

Myanmar coup to dampen US trade, impact footwear companies

Reuters 2021-02-02 12:08:10

The coup in Myanmar is expected to dampen the interest of US and Western companies in investing in Myanmar, and may prompt some big US companies to pull out, trade experts and analysts said on Monday....

India's proposal for reducing transit fees turned down

India's proposal for reducing transit fees turned down

FE REPORT 2021-02-02 11:03:06

The Road Transport and Highways Division (RTHD) has rejected a proposal put forward by India to reduce road transit fees as the rate fixed earlier is lower than the actual one. Sources said the rate...

US economy set for faster 2021 rebound

US economy set for faster 2021 rebound

REUTERS 2021-02-02 10:19:06

The US economy will grow 4.6 per cent in 2021 after contracting 3.5 per cent in 2020, the Congressional Budget Office said on Monday in a rosier forecast that could strengthen Republican resistance to...

US economy set for faster 2021 rebound

US economy set for faster 2021 rebound

REUTERS 2021-02-02 10:19:06

The US economy will grow 4.6 per cent in 2021 after contracting 3.5 per cent in 2020, the Congressional Budget Office said on Monday in a rosier forecast that could strengthen Republican resistance to...

Half-yearly net sales of savings instruments cross fiscal year target

Half-yearly net sales of savings instruments cross fiscal year target

FE REPORT 2021-02-02 09:48:31

Net sales of the state-run savings instruments in the first half surpassed the target set for entire fiscal year (FY) 2020-21, according to official statistics. According to the Department of Natio...

34.95pc remittance growth recorded in seven months of FY21

34.95pc remittance growth recorded in seven months of FY21

-- 2021-02-01 22:40:44

Bangladesh recorded a 34.95 per cent growth of remittance in seven months of the fiscal year 2020-21 (FY21) compared to the same period of the last fiscal year. The country received $1.96 billion in...

Expansionary monetary policy to continue in January-June period

Expansionary monetary policy to continue in January-June period

SIDDIQUE ISLAM 2021-02-01 08:47:06

The central bank has decided to stick to the expansionary monetary policy during the second half (H2) of this fiscal year (FY) with some adjustments, taking into account the money market and the overa...

Central bank lifts loan moratorium

Central bank lifts loan moratorium

FE REPORT 2021-02-01 08:35:45

The central bank on Sunday withdrew the general waiver of loan moratorium facility. The Bangladesh Bank offered a deferral loan classification facility from January 2020 to December 2020, considering...

ICCB describes Padma Bridge as great achievement for Bangladesh

ICCB describes Padma Bridge as great achievement for Bangladesh

FE ONLINE DESK 2021-01-31 15:48:06

The International Chamber of Commerce-Bangladesh (ICCB) has described implementaiton of Padma Bridge project as the great achievement for Bangladesh. The ICCB also extended its gratitude towards Prim...

Argentina seeks $44b IMF deal to repay debt

Argentina seeks $44b IMF deal to repay debt

Reuters 2021-01-31 10:58:25

Argentina’s Economy Minister Martin Guzman is pushing for a deal by May with the International Monetary Fund to repay $44 billion in debt, the Wall Street Journal reported on Saturday, citing hi...

Revenue board waives VAT on amount telecom regulator gains from operators

Revenue board waives VAT on amount telecom regulator gains from operators

FE REPORT 2021-01-31 10:47:13

The National Board of Revenue (NBR) has offered VAT exemption to the telecom operators on the amount that they pay to the regulator as revenue-sharing under the licencing provision. The mobile phone...

Planning minister for raising social safety-net budget

Planning minister for raising social safety-net budget

FE REPORT 2021-01-31 09:10:15

Planning minister MA Mannan has laid emphasis on enhancing budget for social safety-net programmes as many people have fallen below the poverty line due to Covid-19 pandemic. Replying to discussants...

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...