Loading...

Search results for: economy

External sector shows sign of recovery in H2

FE Report June 25, 2019 09:27:43

Current-account balance-to-GDP (gross domestic product) ratio improved during the second half (H2) of 2018 compared to the same period a year earlier. This means the country's export growth shows sig...

HC extends freeze on privilege for loan defaulters by 2 months

-- June 24, 2019 17:29:57

Loan defaulters will be barred from paying off their debts with 2 per cent down payment and 9 per cent interest rate as the High Court has extended its freeze on a Bangladesh Bank circular by two mont...

'Proposal to impose tax on retained earnings may go'

-- June 24, 2019 16:36:07

The proposed tax on the retained earnings of a company may be withdrawn following businessmen’s demand. Salman F Rahman, prime minister’s adviser on private sector development, gave the i...

Bank of Thailand likely to hold key rate

-- June 24, 2019 13:15:37

Thailand’s central bank is expected to keep its benchmark policy rate steady on Wednesday for a fourth straight meeting, a Reuters poll showed. Bank of Thailand (BOT), the central bank of the c...

Economists sceptical about high GDP growth rate

FE Report June 24, 2019 11:57:17

Terming the official data 'inconsistent', speakers at a panel discussion on Sunday said there remains 'mismatch' between the government GDP growth projection and major economic indicators. They a...

BD receives record FDI in last calendar year

FE Online Report June 24, 2019 10:46:04

Bangladesh received its highest-ever FDI (Foreign Direct Investment) inflow in 2018 with around 68 per cent growth compared to the previous calendar year. According to the UNCTAD World Investment Rep...

Proposed VAT, tax hike to hit steel industry hard

FE Desk Report June 24, 2019 10:40:03

The price of rod is likely to go up by 10,350/- per MT, if the proposed VAT and tax is implemented as per 2019-20 budget proposal. Bangladesh Steel Manufacturers' Association (BSMA) said at present T...

Poverty rate to be brought down to a level less than US: PM

-- June 23, 2019 17:00:35

Prime Minister Sheikh Hasina has said her government plans to bring down the poverty rate of the country to a level less than that of the USA. "At present, we have brought down the poverty rate to 21...

300 loan defaulters eat up Tk 509b in over three years

FE Report June 23, 2019 10:38:08

Finance Minister AHM Mustafa Kamal on Saturday disclosed in parliament a list of the country's top 300 loan defaulters, who swallowed Tk 509.42 billion worth of bank money. This figure makes up aroun...

Economists for performance-based tariff policy

FE Report June 23, 2019 09:41:50

Bangladesh could not achieve its desired economic growth through the existing anti-export bias promoting protectionism, economists said on Saturday. They said the country set a higher growth target o...

BIMSTEC leaders promise ‘peaceful, prosperous’ Bay region

-- June 22, 2019 21:47:49

Leaders of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) have promised to make a “peaceful and prosperous” Bay of Bengal region on the 22 yea...

'Default loan in Bangladesh now over Tk 1.02 trillion'

-- June 22, 2019 17:43:32

The number of total loan defaulters in the country is now 170,390 and total amount of defaulted loans is over Tk 1.02 trillion (Tk 102,315.19 crore). Finance Minister AHM Mustafa Kamal gave the infor...

Number of TIN holders exceeds four million

-- June 22, 2019 16:57:41

The number of total Tax Identification Number (TIN) holders in the country is now 40,37,429 (over 4.037 million). Finance Minister AHM Mustafa Kamal gave the information on Saturday in the parliament...

Bangladesh received $15.06b remittance till May in FY19

-- June 22, 2019 16:50:04

Bangladeshi expatriates have remitted US$15.06 billion till May in the current fiscal 2018-19, which is $1,462 million higher than same period of the last fiscal. Finance Minister AHM Mustafa Kamal g...

Paper importers demand 80pc duty cut

-- June 22, 2019 14:21:00

Paper traders on Saturday called on the government to reduce the import duty to five per cent from 25 per cent in the budget to help the local industry flourish. They made the call at a press confere...

IBFB for establishing good governance

FE Online Desk June 22, 2019 13:47:43

  International Business Forum of Bangladesh (IBFB) said without establishing good governance and complying with the due diligence, the implementation of the new budget will not be possible....

New VAT law to help fetch an addl Tk 365b

Doulot Akter Mala June 22, 2019 10:38:10

The government projects an additional tax revenue of Tk 365.22 billion in the next fiscal year (FY), following the enforcement of the new VAT and Supplementary Duty Act-2012. The highest amount of Tk...

Matia slams tax hike on savings certificate

-- June 20, 2019 22:26:53

Former Agriculture Minister and Matia Chowdhury on Thursday strongly criticised the proposal for increasing tax at source on family savings certificate from five per cent to 10 per cent in the propose...

'2.57 million people are working in RMG sector'

-- June 20, 2019 18:21:39

Around 2.57 million people are currently working in the country’s readymade garments (RMG) sector. State Minister for Labour and Employment Begum Monnujan Sufian gave the information while repl...

Indonesia plans more tax breaks to lift GDP growth

-- June 20, 2019 13:19:49

Indonesia plans to cut several different taxes to boost investment and accelerate economic growth, its finance minister said on Wednesday. Southeast Asia’s largest economy in the Q1 expanded 5....

RBA flags rate cut, market bets on July

-- June 20, 2019 13:08:06

A top RBA official has said a recent cut in interest rates would not be enough to revive economic growth, an unusually blunt declaration that led markets to narrow the odds on another easing as early...

IMF seeks clarification of 'wilful defaulters'

Siddique Islam June 20, 2019 09:23:30

The International Monetary Fund (IMF) has expressed interest to know about the definition of wilful loan defaulters, which will be used for identifying them legally. The visiting IMF mission's intere...

Bangladesh fastest economy in Asia-Pacific: ADB

-- June 19, 2019 21:24:58

Bangladesh has achieved the fastest growth in the Asia-Pacific economies comprised of 45 countries, according to the Asian Development Bank (ADB).  In the outgoing fiscal year of 2018-19, the AD...

Inflation up in May

FE Report June 19, 2019 11:41:20

The point-to-point inflation in the month of May last was recorded higher than that of the previous month, according to official data. It was 5.63 per cent in May compared to 5.58 per cent in April,...

BRI can speed development, needs transparency: WB

-- June 19, 2019 11:02:22

China’s Belt and Road Initiative (BRI) could speed up economic development and reduce poverty for dozens of developing countries, the World Bank has said in a report. The global lender said thi...

New VAT act to up prices of goods: PwC

FE Report June 19, 2019 10:18:45

The new VAT law, to be effective from next month (July), will cause price hike of commodities at consumer level, the PricewaterhouseCoopers (PwC) has said. According to the new law, the products payi...

Biggest revenue target ‘challenging’ on exemptions

FE Report June 19, 2019 09:21:54

Achieving the 'biggest' revenue target would be a challenging task with so many tax exemptions proposed in the budget, the revenue board chief said on Tuesday. He said a Tk 3.25-trillion revenue targ...

New VAT law: Amendments necessary to align with global best practices

Pulak Saha, Prabir Mitra, Dibyendu Das and Shahadat Hossain June 18, 2019 21:11:50

The government has finally notified that the new VAT law (VAT and Supplementary Duty Act, 2012 and Rules 2016) will go into effect from July 01, 2019. Consequent upon this, all rules, orders, statutor...

Indonesia central bank likely to hold key rate

-- June 18, 2019 13:39:35

Bank Indonesia (BI), the central bank of the country, is expected to keep its benchmark interest rate steady at a policy review on Thursday, a Reuters poll showed. The poll also said that the BI may...

Economist says budget brushes aside banking malaise

FE Report June 18, 2019 09:44:27

Former finance advisor Dr A B Mirza Azizul Islam expressed on Monday his dissatisfaction over the poor attention the budget paid to address the banking sector problems. "I am extremely disappointed a...