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The Financial Express

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World Economic Forum cancels 2021’s annual conference

World Economic Forum cancels 2021’s annual conference

REUTERS 2021-05-17 22:30:47

The World Economic Forum (WEF) has cancelled its annual meeting - the blue riband event for the global elite to discuss the world's problems - due to be held in Singapore later this year, the organise...

Thailand's GDP contracts 2.6pc in first quarter

Thailand's GDP contracts 2.6pc in first quarter

-- 2021-05-17 14:50:15

Thailand's economic growth contracted 2.6 per cent from a year earlier in the first quarter of 2021 as continued coronavirus outbreaks dent consumption and the tourism sector, official data showed Mon...

Less than 50pc ADP executed in July-April period

Less than 50pc ADP executed in July-April period

FE REPORT 2021-05-17 10:40:28

The government has implemented only 49 per cent of the development projects in the first 10 months of the current fiscal year (FY), with the health ministry performing poorly again, officials said on...

Bangladesh government likely to finalise Tk 2.25tn development budget

Bangladesh government likely to finalise Tk 2.25tn development budget

FHM HUMAYAN KABIR 2021-05-17 10:22:18

The government is likely to approve a Tk 2.25 trillion worth of annual development programme (ADP) for the next fiscal year with a special priority to the health sector, officials said on Sunday. The...

Dhaka sees record $2.9b private investment pledge in 2020: World Bank

Dhaka sees record $2.9b private investment pledge in 2020: World Bank

FE REPORT 2021-05-17 10:13:10

Bangladesh last year witnessed a record $2.9 billion investment commitment for its infrastructure development from private sector sponsors, according to a latest report published by the World Bank. "...

Next budget set to offer sweeteners to businesses

Next budget set to offer sweeteners to businesses

DOULOT AKTER MALA 2021-05-17 10:05:03

The government is set to offer a wide-range of tax relief for the businesses in the budget for the upcoming fiscal year (FY) to help the latter survive the Covid-19 pandemic onslaught. The government...

Myanmar's crumbling economy runs low on cash

Myanmar's crumbling economy runs low on cash

REUTERS 2021-05-14 18:00:41

If you need cash in Myanmar, you have to get up early. Queues start forming outside banks at 4 am, where the first 15 or 30 customers are given a plastic token that will allow them to enter the bank w...

European Union economy projected to grow by 4.2pc in 2021

European Union economy projected to grow by 4.2pc in 2021

-- 2021-05-12 16:03:05

The economy of the 27-member European Union (EU) will grow by 4.2 per cent in 2021 and 4.4 per cent in 2022, higher than the previous estimate, the European Commission said Wednesday in its Spring For...

Bangladesh's health sector allocation likely to go up by 33pc

Bangladesh's health sector allocation likely to go up by 33pc

FHM HUMAYAN KABIR 2021-05-12 09:47:22

The country's health sector is likely to have a big leap with 33 per cent higher fund allocation in the upcoming development budget despite lacklustre performance in the project implementation, offi...

‘Black money’ goes against fairness, economic principles

‘Black money’ goes against fairness, economic principles

FE REPORT 2021-05-10 11:20:33

Business leaders and academicians on Sunday said that legalising undisclosed income or black money is against economic principles as well as politically detrimental to the country's citizens and fair...

Experts discuss economic challenges during second wave of Covid-19

Experts discuss economic challenges during second wave of Covid-19

-- 2021-05-09 22:08:25

ICSA Bangladesh, a non-profit service organisation, arranged its 20th session titled ‘Economic Challenges in the second wave of Covid-19: Bangladesh perspective’ on May 06, according to a...

ADB identifies customs key areas as obstacles to better service delivery

ADB identifies customs key areas as obstacles to better service delivery

DOULOT AKTER MALA 2021-05-09 10:03:11

The Asian Development Bank (ADB) has pointed out some key areas where customs crucially need to develop its capacities for trade facilitation. The areas include customs classification of goods, valua...

Experts for higher primary healthcare allocation in next budget

Experts for higher primary healthcare allocation in next budget

FE REPORT 2021-05-09 09:47:10

Experts on Saturday called on the government to raise the budgetary allocation for primary healthcare in a bid to cover the majority population in the country. Sustained investment in primary heal...

Crisis looms over Banarasi Palli

Crisis looms over Banarasi Palli

-- 2021-05-08 18:47:37

Dhaka’s markets are bustling with Eid shoppers who intriguingly ignore contagion fears and defy lockdown rules, but the Banarasi Palli is having none of it. The coronavirus crisis is having a d...

Bangladesh framing India-like rules to administer tariff preferences

Bangladesh framing India-like rules to administer tariff preferences

SYFUL ISLAM 2021-05-08 09:18:39

Bangladesh is enacting new customs rules to administer all the tariff preferences given under various bilateral, regional and multilateral pacts, officials have said. The new rules being framed by th...

Protect consumption, promote employment in next budget, Debapriya says

Protect consumption, promote employment in next budget, Debapriya says

UNB 2021-05-07 17:53:09

The government should prioritise consumption protection and employment promotion in the upcoming national budget amid the Covid-19 pandemic, said renowned economist and public policy analyst Dr Debapr...

China posts rapid trade growth in April

China posts rapid trade growth in April

Reuters 2021-05-07 12:08:45

China extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high, in a boost to the world's second-largest economy. A brisk US...

Some businesses using invalid, old BINs to evade VAT

Some businesses using invalid, old BINs to evade VAT

FE REPORT 2021-05-07 10:12:34

The revenue board has identified irregularities in using VAT registration number for export-import and other business activities. The National Board of Revenue (NBR) has found that the old invalid Bu...

Central bank issues guideline on MFS trust fund

Central bank issues guideline on MFS trust fund

FE REPORT 2021-05-07 10:07:40

The central bank on Thursday issued a guideline for trust fund management in payment and settlement services for mobile financial services (MFS), payment service provider (PSP) and payment system oper...

Insurance association demands withdrawal of 15pc VAT

Insurance association demands withdrawal of 15pc VAT

FE REPORT 2021-05-07 09:48:33

The Bangladesh Insurance Association (BIA) has demanded withdrawal of 15-per cent value-added tax (VAT) on reinsurance commission in the 2021-22 fiscal budget. Addressing a virtual press conference o...

Guarantee of public benefit sought for tax cut for telecom operators

Guarantee of public benefit sought for tax cut for telecom operators

FE REPORT 2021-05-07 09:45:12

The government's top brass wants guarantee from telecoms operators that the people of the republic benefit from the tax rate if reduced. It is true that tax rate on telecommunications is high and the...

Stakeholders want budgetary support for startups

Stakeholders want budgetary support for startups

FE Report 2021-05-07 09:39:52

Speakers at a discussion on Thursday recommended providing budgetary and policy supports to the startups for enhancing their rapid growth in the post-Covid period. "The startups can play a proactive...

Bangladesh's imports from ACU nations rise by 23pc

Bangladesh's imports from ACU nations rise by 23pc

Siddique Islam 2021-05-07 09:28:50

Imports from the Asian Clearing Union (ACU) member countries increased by more than 23 per cent in the March-April period of this calendar year, officials said. The amount of ACU payment rose to US$1...

Coronavirus hurts Bangladesh's apparel exports to US

Coronavirus hurts Bangladesh's apparel exports to US

MONIRA MUNNI 2021-05-07 09:20:35

Bangladesh's apparel exports to the US sustained a negative growth of over 8.0 per cent during the first quarter of 2021 year-on-year, showing a much slower recovery compared to China and Vietnam. US...

Over 60pc Bangladeshis lost jobs to Covid in March-April 2020: Survey

Over 60pc Bangladeshis lost jobs to Covid in March-April 2020: Survey

FE Report 2021-05-06 09:34:36

A survey found that 61.57 per cent people had lost their jobs in March and April last year, due to adverse economic impact of the Covid-19 lockdown. Only 15 per cent of these people returned to their...

Tk 6.0-trillion budget to be placed in parliament on June 3

Tk 6.0-trillion budget to be placed in parliament on June 3

FE REPORT 2021-05-06 09:21:20

The government is expected to place a Tk. 6.0 trillion national budget for the fiscal year (FY2021-22) in parliament on June 03 next, people familiar with the development said on Wednesday. They said...

Bangladesh to prepare action plan on post-LDC challenges within a month

Bangladesh to prepare action plan on post-LDC challenges within a month

-- 2021-05-05 22:07:21

Bangladesh is going to prepare an action plan within one month to tackle the possible challenges of Bangladesh’s graduation from the status of a least developed country (LDC) after sorting out t...

Indonesia economy shrinks 0.74pc in first quarter

Indonesia economy shrinks 0.74pc in first quarter

-- 2021-05-05 14:15:45

Indonesia’s economy shrank for the fourth straight quarter in January-March but at a much more modest pace, statistics bureau data showed on Wednesday. Southeast Asia’s largest economy co...

Economists, business leaders call for framing virus-centric budget

Economists, business leaders call for framing virus-centric budget

FE REPORT 2021-05-05 09:33:34

Economists and business leaders on Tuesday unequivocally criticised the existing budgetary provision for legalising 'black money' and said the opportunity is biased against the honest taxpayers. They...

NBR to settle 30,000 'short shipments' thru' Asycuda

NBR to settle 30,000 'short shipments' thru' Asycuda

DOULOT AKTER MALA 2021-05-04 10:14:51

The National Board of Revenue (NBR) has decided to settle some 30,000 export shipments using Asycuda system following difficulties of the exporters concerned to avail cash incentives from the central...