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Search results for: economy

$500m infrastructure investment fund likely

Syful Islam August 20, 2019 10:47:03

A US$500 million fund is likely to be created with contributions from the government, bourses, banks and financial institutions to invest in various infrastructures, officials said. The private s...

FY'19 trade gap narrows

Asjadul Kibria August 20, 2019 09:44:50

The country's merchandise trade deficit with the rest of the world narrowed in the past fiscal year (FY'19), despite slight rise in imports, the central bank said on Monday. The latest statistics sho...

China's Guangxi sees robust growth in foreign trade

Xinhua August 19, 2019 15:16:03

South China's Guangxi Zhuang Autonomous Region saw its foreign trade volume reach 264.14 billion yuan ($37.51 billion) in the first seven months of the year, up 23.8 per cent year on year, local autho...

Korea keen to invest in 10 PPP projects

Munima Sultana August 18, 2019 10:21:12

Korea has shown interest to invest in 10 public-private partnership (PPP) projects in the aviation, rail and power sectors under government-to-government arrangements. However, Bangladesh sought...

China to lower real interest rates

Xinhua August 17, 2019 17:42:13

China will take market-oriented reform measures to meaningfully reduce real interest rates and ease financing difficulties, the State Council's executive meeting chaired by Premier Li Keqiang decided...

Farmers, economy face onslaught

Sajibur Rahman August 17, 2019 17:25:15

Outbreak of severe foot and mouth disease (FMD) of cattle across the country has been severely causing immense economic loss to the farmers as it is increasing drastically year-on-year basis, accordin...

Bank of Mexico to cut interest rate

-- August 17, 2019 12:59:42

Mexican President Andres Manuel Lopez Obrador on Friday endorsed a benchmark interest rate cut in a bid to stimulate the economy. In his daily press conference, the president said cutting the interes...

Tk 4.95b farm loans of six SoBs stuck in court cases

FE Report August 17, 2019 10:51:43

At least Tk 4.95 billion (495 crore) of six state-owned banks (SoBs) remained stuck against 157,273 cases filed to recover the money from farm loan borrowers, statistics show. Between January 1991 an...

Govt moves to allow all banks to handle Challan transactions

Jasim Uddin Haroon August 17, 2019 10:15:51

All the 59 commercial banks are likely to be allowed to handle "challan" that serves as the biggest instrument of submitting money to the public exchequer. The Finance Division, which has been work...

ECB shuts down its hacked website

-- August 16, 2019 12:44:54

The European Central Bank (ECB) shut down one of its websites on Thursday after it was hacked and infected with malicious software. The lender said no market-sensitive data had been compromised durin...

Japan becomes largest foreign holder of US Treasuries

-- August 16, 2019 11:17:36

Japan overtook China to become the largest foreign holder of US Treasuries in June, with its holdings at the highest level in nearly three years, US Treasury Department said on Thursday. Japan's hold...

Govt drafts policy to curb FDI in tobacco industry

Syful Islam August 16, 2019 10:46:46

The government is planning to restrict foreign direct investments (FDI) in the tobacco sector so that the supply of the harmful elements can be curtailed, officials said. The draft National Tobacco C...

WB suggests exploring new lending option

FHM Humayan Kabir August 16, 2019 10:39:59

The World Bank (WB) has suggested Bangladesh avail new funding opportunity -- 'credit guarantee' -- for financing the country's development projects, officials said. Borrowing money for the credit gu...

Over 90pc businesses risk losing BINs

Doulot Akter Mala August 16, 2019 10:36:42

Some 150,000 businesses accounting for over 90 per cent risk losing identification numbers for the non-compliance with the revenue board's directive to update their VAT registration information within...

Remittance inflow reaches $716m in nine days before Eid

-- August 15, 2019 21:59:48

Expatriate Bangladeshis have sent home an increased amount of money home before the Eid-ul-Azha, taking the figure in the first nine days of August to $716.2 million. Bankers also believe the governm...

Plan to reconcile revenue collection data faces blow

Doulot Akter Mala August 15, 2019 10:39:12

The effort to reconcile data of aggregate revenue collection between revenue board and Controller General of Accounts (CGA) faced a blow due to flaws in the accounts system, known as 'iBAS++'. Offici...

US labelling China as currency manipulator not true: Scholar

-- August 14, 2019 17:28:08

The US assertion that the recent depreciation of the Chinese yuan against the US dollar amounts to currency manipulation is not true, a US scholar has said, reports Xinhua. It would be more correct t...

EU slaps biodiesel duties on Indonesia

-- August 14, 2019 10:41:57

The European Commission on Tuesday imposed countervailing duties of 8.0 per cent to 18 percent on imports of subsidised biodiesel from Indonesia. The move aimed to restore a level playing field for E...

US-China tariff dispute dampens Las Vegas trade show

-- August 13, 2019 16:28:10

"There is a lot of fear in the marketplace, people are worried," Jimmy Gindi, a New York-based footware seller said Sunday at the Sands Expo  and  Convention Center in Las Vegas. There was...

Oil prices fall on demand concerns, rising US output

-- August 13, 2019 15:58:45

Oil prices fell on Tuesday on lingering concerns over global demand and rising US production, though expectations for major producers to further curtail output offered support, reports Reuters. Brent...

Yen hits seven-month high against dollar

-- August 13, 2019 11:20:55

TOKYO (Reuters) - The yen traded close to a seven-month high against the dollar on Tuesday, as unrest in Hong Kong and gyrations in Argentina’s markets heightened investor risk aversion and fann...

Singapore cuts 2019 GDP forecast as global risks expand

-- August 13, 2019 10:14:03

SINGAPORE (Reuters) - Singapore slashed its full-year economic growth forecast on Tuesday as global conditions were seen worsening and data confirmed the slowest growth rate in a decade amid mounting...

US-China trade war leading to recession: Goldman Sachs

-- August 12, 2019 19:12:25

Goldman Sachs Group Inc  said on Sunday that fears of the U.S.-China trade war leading to a recession are increasing and that Goldman no longer expects a trade deal between the world’s tw...

Lanka tourism industry begins to recover

-- August 12, 2019 17:37:23

COLOMBO, Aug 12: Sri Lanka’s tourism industry, badly hurt by Easter day bombings, is showing signs of gradual recovery, industry executives say, although a national election later this year is l...

Tesla electric car catches fire after hitting a tow truck in Moscow

-- August 11, 2019 18:46:45

A Tesla electric car caught fire after crashing into a tow truck on a Moscow motorway late on Saturday, reports Reuters. Footage of the incident on state TV channel Rossiya 24 showed the car by the s...

Govt plans another pipeline to import LNG from India

-- August 11, 2019 17:54:33

Bangladesh has taken a plan to set up another pipeline to import LNG from India to feed Sunderban Gas Distribution Company. The pipeline will be install near Satkhira border. The new pipeline will s...

Wealthier China boon to US, says economist

Xinhua August 11, 2019 11:40:23

A wealthier China is a boon to the United States, an economist has said, amid an escalating trade tensions between the two nations that has set the world's nerves on edge. Donald Boudreaux, a senior...

IMF reiterates China's exchange rate broadly in line with fundamentals

Xinhua August 10, 2019 17:17:12

China's real effective exchange rate (REER) in 2018 is estimated to be at the same level as warranted by fundamentals and desirable policies, the International Monetary Fund (IMF) reiterated on Friday...

IMF stands by China's exchange rate view

Xinhua August 10, 2019 13:02:38

The International Monetary Fund (IMF) on Friday affirmed its view that China's exchange rate is broadly in line with economic fundamentals. Experts said IMF's new report provides further evidence tha...

BFIU beefs up steps to cut trade-based capital flight

Siddique Islam August 10, 2019 09:41:32

Bangladesh has initiated a coordinated effort to battle trade-based money laundering, thus mitigating the risks of frauds and forgeries in the banking sector, officials said. Trade-based money launde...