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Search results for: economy

Tax revenue collection misses target by Tk 571b

FE Report August 01, 2019 09:54:19

Tax revenue collection posted an aggregate shortfall of Tk 571 billion in the fiscal year (FY) 2018-19 against its revised target, recording 10.7 per cent growth over the corresponding year. The grow...

BB has ‘no data on remittance outflow’

-- July 31, 2019 17:20:37

Bangladesh Bank does not maintain any data on remittance outflow although it has updated data on remittance inflow, said its officials. Bangladesh Bank government Fazle Kabir and other deputy governo...

4,000 Rajshahi people get overseas jobs last year

-- July 31, 2019 16:25:32

Around 4,000 people both male and female from Rajshahi district have got jobs in abroad including the Middle East countries last year. Earlier on, the people were given six-month training on general...

BB unveils cautiously accommodative monetary policy

FE Online Report July 31, 2019 15:05:44

The central bank on Wednesday unveiled an accommodative but cautious monetary policy for this fiscal year (FY 2019-20) aiming to achieve maximum growth with curbing inflationary pressures on the econo...

China July factory activity falls amid tariff war

-- July 31, 2019 14:25:08

The factory activity in China contracted in July for a third month amid a tariff war with US and weak domestic demand. According to a monthly index, released on Wednesday by an industry group, the Ch...

Dhaka, Ctg account for ‘90pc loans, advances’

FE Report July 31, 2019 10:48:58

Policy makers and experts have emphasised ensuring human dignity for all through expediting financial inclusion initiatives, saying that development without human dignity as the quintessential purpose...

Bangladesh now on World Bank’s ‘Gap Country’ list

FHM Humayan Kabir July 31, 2019 10:06:39

A World Bank (WB) team is coming to Bangladesh next week to apprise the country of its various loan options, as the country graduated to the lower-middle-income country status few years ago, officials...

Consumer spending increases in US

-- July 30, 2019 19:49:16

The US Commerce Department said consumer spending - more than two-thirds of economic activity - rose 0.3 per cent in June when a fall in car sales was offset by other spending. The personal consumpti...

Germany to provide 200m Euro for development projects

-- July 30, 2019 19:31:07

Bangladesh and Germany on Tuesday signed two bilateral agreements on development cooperation with German assistance worth 200 million Euro (approximately Tk 18.47 billion) for various development proj...

'5.0pc tax for up to Tk 0.5m investment in savings certificates'

FE Online Desk July 29, 2019 17:21:37

Finance Minister AHM Mustafa Kamal has said five per cent tax at source will be applicable from July for investment of up to Tk 500,000 in all types of savings certificates. “We’ll take t...

Japan cuts GDP target due to weaker exports

-- July 29, 2019 15:14:18

Japan has lowered its target for economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-la...

BB to unveil MPS on Wednesday

-- July 28, 2019 20:08:23

The Bangladesh Bank will unveil its monetary policy statement (MPS) for the first half of the current fiscal year (2019-20) on Wednesday. “BB Governor Fazle Kabir will unveil the MPS at 11.30am...

Industrial share of GDP to reach 40pc by 2021: Humayun

-- July 28, 2019 15:24:35

Industries minister Nurul Majid Mahmud Humayun today (Sunday) said contribution of industrial sector to GDP will reach 40 per cent by 2021 as the government is providing all sorts of efforts in this r...

Liquidity shortage pushes up private banks’ deposit rates

Siddique Islam July 28, 2019 09:53:26

The ongoing liquidity crunch has forced many private commercial banks to raise their deposit rates, particularly that of term deposits. The hike has made the government move to lower the lending rate...

China's industrial profits fall 3.1pc in June

-- July 27, 2019 14:23:35

The industrial profits in China fell in June, after a brief gain the previous month, fuelling concern that a slowdown in manufacturing from a bruising trade war will drag on economic growth. The coun...

BIDA's tax-reform recipe to NBR

Doulot Akter Mala July 27, 2019 09:40:39

The Bangladesh Investment Development Authority (BIDA) has requested the National Board of Revenue (NBR) to initiate some tax reforms as suggested in an action plan, prepared to help improve the count...

BEZA allocates 6,077 acres land for 53 industrial units at BSMSN

-- July 26, 2019 21:47:57

The Bangladesh Economic Zones Authority (BEZA) has allocated a total of 6,077 acres of land among the 53 business houses in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram for setting...

US economic growth lower than Trump’s target

-- July 26, 2019 21:10:04

The US economy grew less than previously thought last year, missing President Donald Trump's target of 3.0 per cent. Revised official figures shows that GDP expanded by 2.5 per cent during 2018, repo...

US growth seen slowing in second quarter

-- July 26, 2019 12:14:24

The US economy likely grew at its slowest pace in more than two years in the second quarter as an acceleration in consumer spending was probably offset by weak exports and business investment. The an...

$1.0t dream budget before 2034: Kamal

FE Report July 26, 2019 11:28:20

Finance minister AHM Mustafa Kamal said on Thursday the size of the country's annual budget would stand at $1.0 trillion even before 2034. "Such a $1.0-trillion budget is our dream and we'll reach th...

BB raises maximum limit of US dollar for travellers

FE Report July 26, 2019 11:21:38

The central bank has increased the maximum limit of cash US dollar for travellers' to $12,000 from the existing level of $5,000 and $7,000 for a calendar year. The revised limit of foreign exchange f...

WB likely to give $4.5b aid to BD in three years

FHM Humayan Kabir July 26, 2019 11:08:56

The World Bank (WB) is likely to provide some US$ 4.5 billion assistance to Bangladesh in next three years, officials said early this week. The Economic Relations Division (ERD) officials said the Wa...

‘Budget for 2034 will be of a trillion dollar’

-- July 25, 2019 16:40:24

Finance Minister AHM Mustafa Kamal on Thursday said that the national budget in Bangladesh for the year 2034 will reach around a trillion US dollar, reports UNB. “We’ve given over Taka Fi...

US direct investment abroad drop $62.3b in 2018

-- July 25, 2019 15:36:20

US direct investment abroad dropped at the end of last year while foreign direct investment in the United States increased, according to statistics released by the US Bureau of Economic Analysis (BEA)...

Govt borrowing from banks more than doubled last fiscal

Siddique Islam July 25, 2019 10:04:58

The government borrowing from the banking system more than doubled in the outgoing fiscal year (FY) to partly finance its budget deficit, officials said on Wednesday. Its borrowing from the banking s...

Egypt’s GDP growth likely to slow to 5.5pc: Reuters poll

-- July 24, 2019 13:03:28

Egypt’s economic growth is expected to slow to 5.5 per cent in the current fiscal year that began this month, below the government’s target, and 5.8 per cent the following year, a Reuters...

Crop insurance under PPP likely from this FY

FE Report July 24, 2019 11:24:55

Crop insurance in haor (wetland) area might begin this fiscal year (FY), 2019-20, under a public-private partnership (PPP) mechanism, said people familiar with this development on Tuesday. In June, t...

BB increases farm loan disbursement target by 10.66pc

-- July 23, 2019 16:28:17

The Bangladesh Bank has raised the agriculture and rural loan disbursement target by 10.66 per cent for the current fiscal year (FY2019-20), compared to the immediate past fiscal year. The central ba...

Singapore core inflation hits over two-yr low

-- July 23, 2019 13:22:13

The core inflation of Singapore hit a more than two-year low in June as electricity and gas prices declined, firming bets among economists that its central bank will ease monetary policy in October....

Volume of NPL in SoBs shrinks in Q2, says Kamal

FE Report July 23, 2019 09:42:46

The volume of non-performing loans (NPLs) in the state-owned banks (SoBs) declined in the second quarter of the calendar year 2019, finance minister AHM Mustafa Kamal said on Monday quoting provisiona...