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Search results for: economy

Remittances hit record $16.42b in FY' 19

Siddique Islam July 03, 2019 09:44:59

The flow of remittances grew by 9.65 per cent to a record US$16.42 billion in the just-concluded fiscal year (FY) as the exchange rate of local currency weakened against the US dollar. The figure jum...

BIMSTEC free trade deal likely this year

Mir Mostafizur Rahaman July 03, 2019 09:28:54

A free trade agreement (FTA) among the BIMSTEC countries may be signed this year, a top official of the regional grouping said on Tuesday. The BIMSTEC, which stands for the Bay of Bengal Initiative f...

'BD likely to become 25th largest economy in 10 years'

-- July 02, 2019 20:13:11

Prime Minister Sheikh Hasina has said Bangladesh is likely to become 25th largest economy globally in 10 years. “Whatever gaps or limitations that we have, we are ready to correct those. So, we...

Chamber Judge stays HC order on BB privileges for loan defaulters

-- July 02, 2019 19:50:46

The Chamber Judge of the Supreme Court on Tuesday stayed a High Court order that directed to maintain a status-quo on a Bangladesh Bank policy offering special privileges to loan defaulters. Justice...

Bangladesh is safe place for investment: PM

-- July 02, 2019 18:26:45

Prime Minister Sheikh Hasina has said currently the economy of Bangladesh is stronger than any other time. The Prime Minister also described the country as a safe place for investment, according to a...

FBCCI leaders discuss investment issues with Chinese counterparts

-- July 02, 2019 17:56:38

Leaders of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Tuesday discussed ways with their Chinese counterparts to boost trade and investment between the two countries....

UAE keen to invest in food processing sector

-- July 02, 2019 16:43:54

The United Arab Emirates (UAE) wants to invest in the food processing sector of Bangladesh. The UAE Ambassador in Dhaka Saed Mohammed Al Mheiri expressed the interest on behalf of his country during...

Italy cuts budget deficit to avoid EU disciplinary action

-- July 02, 2019 15:09:00

The Italian cabinet has agreed to reduce the country's budget deficit target by 0.3 per cent in 2019 to avoid European Union (EU) disciplinary action. The measure was seen as a necessary step for the...

Confusion reigns as govt rolls out new VAT

FE Online Desk July 02, 2019 14:26:11

Nikkei Asian Review in a news article said that the new Value Added Tax (VAT) system in Bangladesh has confused both the consumers and businesses. Titled ‘Bangladesh's VAT rollout confuses cons...

NBR lifts VAT, SD on diaper, sanitary pad raw materials

FE Report July 02, 2019 10:31:32

The National Board of Revenue (NBR) has exempted Value Added Tax (VAT) and Supplementary Duty (SD) on import of raw materials for producing sanitary napkin and diaper in a bid to make their prices a...

BD, WFP working to lift rural women out of extreme poverty

-- July 01, 2019 17:04:57

The government of Bangladesh is set to reach 100,000 women with livelihood training, behaviour change education, as well as food assistance through a programme involving $72 million. The World Food P...

New VAT law finally takes effect

FE Online Desk July 01, 2019 14:52:55

The new value added tax (VAT) law has finally taken effect from the first day of the new financial year, 2019-20. In line with the announcement made by Finance Minister AHM Mustafa Kamal in the new b...

South Korea June exports tumble

-- July 01, 2019 13:28:53

South Korea’s exports posted their biggest slide in three-and-a-half years in June, data showed on Monday, denting government hopes for a pick-up in economic growth after a shocking decline in t...

Reform banking sector for budget implementation: Ibrahim Khaled

-- June 30, 2019 16:54:23

Former Bangladesh Bank Deputy Governor Khondokar Ibrahim Khaled has underscored the need for reforming the country's banking sector for proper implementation of the national budget for 2019-20 fiscal...

Bangladesh asks Google, Facebook to appoint tax agents

-- June 30, 2019 16:10:25

Internet giants, including Google and Facebook, and other non-resident providers of electronic broadcast services through TV and radio in Bangladesh will have to appoint agents in the country to pay v...

Parliament passes Tk 5.23 trillion budget

-- June 30, 2019 14:16:14

Parliament on Sunday passed the Tk 5.23 trillion (5,23,190 crore) national budget for the fiscal year 2019-20, themed as 'Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh'. Fi...

'Unleash creativity to solve social problems'

Tanvir Sufi, from Bangkok June 30, 2019 10:43:38

The ninth Social Business Day concluded on Saturday in Bangkok with a call to harness the power of creativity of the youths, which can help solve social problems. In his concluding remark, Nobel Laur...

EPB proposes $44.40b export target for FY '20

Monira Munni June 30, 2019 09:47:10

The Export Promotion Bureau (EPB) has proposed setting a US$ 44.40 billion export target for fiscal year (FY) 2019-20, officials have said. More than 84 per cent or $37.42 billion of the proposed exp...

Parliament okays finance bill

FE Report June 29, 2019 20:55:27

Parliament approved on Saturday the finance bill-2019 with a few amendments suggested by the lawmakers. Some 10 lawmakers proposed to elicit public opinion on the bill, but that was rejected by voice...

'Bangladesh will provide loan to other countries'

-- June 29, 2019 20:48:22

Finance Minister AHM Mustafa Kamal has said Bangladesh would not implement budget with the bank loan by 2030 and the country will provide loan to other countries. The finance minister also said Bangl...

'Brexit could leave UK short of energy'

-- June 29, 2019 20:31:22

The UK would be vulnerable to gas supply shortages and price hikes after Brexit, an industry leader has warned. Marco Alvera, head of European industry body GasNaturally, said that EU nations could r...

PM terms proposed budget ‘people-friendly’

-- June 29, 2019 19:02:10

Prime Minister Sheikh Hasina has said that every people will be benefitted by the proposed budget for FY 2019-20 as it will help continue the pace of ongoing development. Sheikh Hasina on Saturday de...

Social business day concludes in Bangkok

Tanvir Sufi, from Bangkok June 29, 2019 18:50:52

The Ninth Social Business Day concluded on Saturday in Bangkok with a call to tap into the power of creativity of the youth for solving social problems.  In his concluding remark, Nobel Laureate...

Proposed tax on savings certificates may go

-- June 29, 2019 17:06:23

The government might retract its decision to double tax on savings certificates as the move is likely to draw massive criticism from the people. Four types of savings certificates are currently sold...

Savers in haste to draw govt savings tools’ yields

Arafat Ara June 29, 2019 10:00:37

The proposed rise in source tax on yields from national savings tools has prompted investors in large numbers to draw profits before June 30 next to avoid higher taxation. Dozens of savers were f...

'Bring social business into mainstream'

Tanvir Sufi, from Bangkok June 29, 2019 09:37:00

Experts and dignitaries laid on Friday emphasis on bringing the social business into the mainstream rather than applying it as a marginal business model. The real benefit of social business can be re...

Social Business Day held in Bangkok

Tanvir Sufi, from Bangkok June 28, 2019 18:44:23

Ninth Social Business Day was inaugurated in Bangkok on Friday with the presence of some 1,500 delegates from 60 countries, including Antarctica along with icons of social innovation and entrepreneurs...

BD must focus on SDG 16: Experts

FE Report June 28, 2019 12:47:21

Sustainable development goals (SDGs) cannot be fully achievable by 2030, leaving out SDG 16 that focuses on inclusive societies, democracy, strong institutions, justice and rule of law. SDG 16 is the...

BD-linked funds in Swiss banks up 28pc

FE Report June 28, 2019 09:55:01

The amount of Bangladesh-linked funds in the banks of Switzerland jumped by 28 per cent last year after a decline a year ago, according to the latest Swiss Bank data. In 2017, deposits held by Bangla...

Banking sector in free fall, warns IMF

FE Report June 28, 2019 09:27:49

Highlighting financial stability risks, the International Monetary Fund (IMF) said on Thursday the banking sector keeps deteriorating even as growth remains robust. "Resolutely addressing the high le...