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Search results for: economy

Sri Lanka economy could shrink by -3.5pc to -4.0pc: Wickremesinghe

Sri Lanka economy could shrink by -3.5pc to -4.0pc: Wickremesinghe

-- 2023-01-28 20:11:16

Sri Lanka's economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil Wickremesinghe said on Saturday. "From 2024, we will take this economy to positive growth....

Pakistani rupee fall slows as PM Sharif hopes for IMF funds

Pakistani rupee fall slows as PM Sharif hopes for IMF funds

-- 2023-01-27 22:14:04

The Pakistani rupee's two-day decline slowed on Friday on news that an IMF team was visiting Islamabad next week to discuss unlocking a suspended bailout package, though the currency still closed at a...

Pakistan’s forex reserves fall by $923 million

Pakistan’s forex reserves fall by $923 million

-- 2023-01-27 16:24:41

The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by 923 million US dollars last week. During the week ending on Jan. 20, the total foreign exchange reserves of the Pa...

Pakistani rupee's fall slows as hopes rise for IMF money

Pakistani rupee's fall slows as hopes rise for IMF money

FE ONLINE DESK 2023-01-27 13:03:39

The Pakistani rupee showed signs of steadying on Friday after steep decline over the previous two days, with hopes raised by an International Monetary Fund team visiting Islamabad in coming days...

Shipping ministry to implement 35 projects involving Tk 70.75b

Shipping ministry to implement 35 projects involving Tk 70.75b

FE REPORT 2023-01-27 09:05:02

The Ministry of Shipping will implement 35 projects during the ongoing fiscal year of 2022-23 (FY 23) involving a cost of over Tk 70.75 billion. Of the total projects, 31 are under annual development...

Call money rate rises to 7pc amid liquidity shortage

Call money rate rises to 7pc amid liquidity shortage

FE REPORT 2023-01-27 08:54:06

The inter-bank call money rate soared to its highest cap at 7.0 per cent -- a rise by nearly 200 per cent in a year since January 2022 -- on Wednesday amid a liquidity crisis on the financial market....

Hard access to finance, policy puzzle listed among barriers

Hard access to finance, policy puzzle listed among barriers

FE REPORT 2023-01-27 08:33:57

Difficulty in getting access to finance and land, policy unpredictability and taxes emerge as most business-hurting areas in Bangladesh, chambers and investors said Thursday while unveiling an index...

Pakistan seeks US help in unlocking $1.1b IMF loan

Pakistan seeks US help in unlocking $1.1b IMF loan

-- 2023-01-26 17:29:32

Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's...

Borrowing at 9pc could be troubling for private banks, economists say

Borrowing at 9pc could be troubling for private banks, economists say

-- 2023-01-26 16:11:26

Some private sector banks are in deep crisis because of a lack of adequate liquidity and are being forced to borrow money from state-owned Sonali Bank at a 9.0 per cent interest rate to stay afloat.&n...

South Korea vows support for exporters as economy shrinks

South Korea vows support for exporters as economy shrinks

-- 2023-01-26 10:04:12

South Korea's government promised strong support for exporters after the country posted on Thursday its first economic contraction in 2/1-2 years, due mainly to a crash in exports, and faced a possibi...

BD-Korea bilateral trade reaches record high

BD-Korea bilateral trade reaches record high

FE ONLINE REPORT 2023-01-25 22:57:16

The bilateral trade volume between Korea and Bangladesh has reached another record high in 2022 exceeding 3.0 billion US dollars. According to the statistics of the Korea International Trade Associat...

FBCCI urges Japanese investors to set up automobile industries in Bangladesh

FBCCI urges Japanese investors to set up automobile industries in Bangladesh

-- 2023-01-25 21:14:20

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged Japanese investors to set up automobile industries in Bangladesh. FBCCI could work closely with Japanese entrepreneurs...

Three more firms get land in economic zone

Three more firms get land in economic zone

-- 2023-01-25 19:03:50

Bangladesh Economic Zones Authority (BEZA) has signed land lease agreements with three organisations. The organisations are: Bangladesh Industrial Technical Assistance Centre (BITAC), Swan Internatio...

Rupee edges higher on soft dollar, traders eye inflows

Rupee edges higher on soft dollar, traders eye inflows

-- 2023-01-25 16:02:43

The Indian rupee strengthened against the US currency on Wednesday, as the dollar remained muted and Treasury yields declined. The rupee was trading at 81.5350 per dollar by 10:13 am IST, compared wi...

Chinese loan commitment to emerging economies hit 13-year low

Chinese loan commitment to emerging economies hit 13-year low

-- 2023-01-24 19:52:51

Loans committed by China's two main trade policy banks fell to a 13-year low of $3.7 billion in 2021 due to Beijing curtailing funding for large-scale oil projects, a study from Boston University Glob...

Parliament passes Universal Pension Management Bill, 2023

Parliament passes Universal Pension Management Bill, 2023

-- 2023-01-24 19:26:33

The Universal Pension Management Bill, 2023 was passed in the parliament with the aim to bring the country’s growing elderly population under a universal pension scheme. Finance Minister AHM Mu...

China offers Sri Lanka debt moratorium, IMF help still in doubt

China offers Sri Lanka debt moratorium, IMF help still in doubt

-- 2023-01-24 18:50:50

The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fun...

WB reiterates strong support for Bangladesh   

WB reiterates strong support for Bangladesh  

-- 2023-01-24 18:40:06

World Bank (WB) Managing Director for Operations Axel van Trotsenburg on Tuesday reaffirmed the World Bank's strong support for Bangladesh to help achieve its vision of upper-middle income status by 2...

Sri Lanka hopeful of completing debt restructuring in six months

Sri Lanka hopeful of completing debt restructuring in six months

-- 2023-01-24 13:44:50

Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country's central bank chief P. Nandalal Weerasinghe sai...

Give soft loans to CMSMEs to uplift economy, FBCCI urges govt

Give soft loans to CMSMEs to uplift economy, FBCCI urges govt

FE REPORT 2023-01-24 08:47:50

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the government on Monday to provide soft loans to cottage, micro, small and medium enterprises (CMSMEs) for betterment of...

Bangladesh loses billions to transfer pricing tricks

Bangladesh loses billions to transfer pricing tricks

DOULOT AKTER MALA 2023-01-24 08:42:36

Bangladesh could tap huge legitimate revenues lost to transfer mispricing by building capacity of taxmen to prevent such intra-company trade tricks also deemed linked to capital flight, according to...

Export Development Fund reduced by $1.0b

Export Development Fund reduced by $1.0b

-- 2023-01-23 22:34:56

The Export Development Fund, formed to help exporters with foreign currency on relaxed conditions, has dropped by $1.0 billion to $6.0 billion, a development that may ease pressure on forex reserves....

WB lists dos for Bangladesh's uplift

WB lists dos for Bangladesh's uplift

FE REPORT 2023-01-23 08:50:28

Bangladesh needs higher and sustainable levels of infrastructure investment, digitization, human capital particularly in education, health and social protection to reach the next high of development a...

World Bank a key partner of Bangladesh’s economic growth: Finance minister

World Bank a key partner of Bangladesh’s economic growth: Finance minister

-- 2023-01-22 21:34:10

Finance Minister AHM Mustafa Kamal on Sunday praised the World Bank for its continued support towards Bangladesh’s development. He said Bangladesh's growth has increased by 74 times since 1972,...

Take multidimensional measurement approach to assess real poverty line, say economists

Take multidimensional measurement approach to assess real poverty line, say economists

FE Report 2023-01-22 08:52:34

Speakers at a discussion on Saturday emphasised on taking a multidimensional poverty measurement approach instead of income-based poverty measures to assess the real poverty line of Bangladesh. Alt...

Finance minister urges World Bank to extend more support in mega projects

Finance minister urges World Bank to extend more support in mega projects

-- 2023-01-21 21:07:43

Finance Minister AHM Mustafa Kamal has urged the World Bank to extend more support in mega projects of Bangladesh and also to make capital Dhaka more liveable to make memorable the 50-year partnership...

Davos 2023: Key takeaways from the World Economic Forum

Davos 2023: Key takeaways from the World Economic Forum

REUTERS 2023-01-21 19:19:20

Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here...

South Korea turning into a lucrative destination for B'desh migrants

South Korea turning into a lucrative destination for B'desh migrants

ARAFAT ARA 2023-01-21 08:59:51

South Korea has turned into a lucrative destination for Bangladeshi migrants in the post-pandemic period, as it hired a record number of workers from Bangladesh in the last calendar year. Bangladesh...

Bangladesh-World Bank devevelopment partnership celebration Sunday

Bangladesh-World Bank devevelopment partnership celebration Sunday

FHM HUMAYAN KABIR 2023-01-21 08:58:14

The government may request more assistance during World Bank Managing Director Axel van Trotsenburg's tour as he arrives today to join golden-jubilee celebration of development cooperation with Bang...

Interest payments squeeze space for growth support

Interest payments squeeze space for growth support

JASIM UDDIN HAROON 2023-01-21 08:53:41

The largest share of public finance usually goes for interest payments, as a single head, against government borrowings but the volume has been surging of late. Meanwhile, statistics show, government...