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The Financial Express

Search results for: economy

Bangladesh-Pakistan trade reaches $543.90m in FY20

Bangladesh-Pakistan trade reaches $543.90m in FY20

FE ONLINE REPORT 2020-11-05 16:06:05

The bilateral trade between Bangladesh and Pakistan reached US$543.90 million in the fiscal year 2019-20. Of the total trade, Bangladesh’s export to Pakistan stood at US$50.54 million while the...

BoE ramps up stimulus by another 150b pounds

BoE ramps up stimulus by another 150b pounds

Reuters 2020-11-05 14:39:57

The Bank of England (BoE) increased its already huge bond-buying stimulus by a bigger-than-expected 150 billion pounds ($195 billion) as it sought to cushion Britain’s struggling economy against...

Bangladesh's own business climate index in place of WB's

Bangladesh's own business climate index in place of WB's

JASIM UDDIN HAROON 2020-11-05 11:27:19

Bangladesh is mulling the introduction of its own index to assess the country's business environment as the World Bank (WB) has halted the publication of its flagship report 'Ease of Doing Business'....

Bangladesh’s inflation hits seven-year high

Bangladesh’s inflation hits seven-year high

-- 2020-11-05 10:20:52

Bangladesh’s point-to-point general inflation rate has increased to 6.44 per cent in October, the highest in seven years, amid the coronavirus (COvid-19) pandemic. The country had the previous...

Policymakers urged to strategise recovery plan for newly vulnerable groups

Policymakers urged to strategise recovery plan for newly vulnerable groups

FE REPORT 2020-11-05 09:47:23

Policymakers should focus more on newly-vulnerable population alongside the pre-existing marginalised groups while framing strategies for the pandemic recovery, experts have said. They also said many...

Forex reserves to reach $50b next year, finance minister says

Forex reserves to reach $50b next year, finance minister says

-- 2020-11-04 18:11:11

Finance Minister AHM Mustafa Kamal has hoped that the country’s foreign currency reserves will reach $50 billion by December 2021.  “Hopefully our foreign currency reserves will reac...

Philippines' total external trade declines 9.2pc in September

Philippines' total external trade declines 9.2pc in September

-- 2020-11-04 15:04:26

The Philippines' total external trade in goods declined 9.2 per cent in September from a year earlier to 14.14 billion US dollars, the Philippine Statistics Authority (PSA) has said. This was lower t...

BEZA seeks rational interest rate

BEZA seeks rational interest rate

FE REPORT 2020-11-04 09:43:15

Bangladesh Economic Zones Authority (BEZA) has sought rationalisation of the interest rate on loans it took out from a state-owned non-banking financial institution between 2015 and 2018. In a letter...

BB publishes Manual of Credit Guarantee Scheme for banks

BB publishes Manual of Credit Guarantee Scheme for banks

-- 2020-11-03 21:09:32

Bangladesh Bank on Tuesday published 'Manual of Credit Guarantee Scheme' for the banks to follow in facilitating loans for cottage, micro and small enterprises (CMS) under the government-announced eco...

Vietnam's garment exports decline $24.8 billion in 10 months

Vietnam's garment exports decline $24.8 billion in 10 months

-- 2020-11-03 14:10:47

Vietnam's total textile and garment export value in the first 10 months of this year declined 9.3 per cent year on year to nearly 24.8 billion US dollars, according to the General Statistics Office on...

Cambodia's rice export up 17pc in 10 months

Cambodia's rice export up 17pc in 10 months

-- 2020-11-02 13:34:07

Cambodia exported 536,305 metric tons of milled rice in the first 10 months of 2020, up 17 per cent over the same period last year, Agriculture Minister Veng Sakhon said on Monday. China remained the...

Brands, retailers need to better buying practice for post-pandemic recovery

Brands, retailers need to better buying practice for post-pandemic recovery

Monira Munni 2020-11-02 10:09:45

Brands and retailers must improve their purchasing practices in meeting the post-Covid demand and protecting supply chain workers during the pandemic recovery, according to a global report. The repor...

Economic reopening hardly serves the poor

Economic reopening hardly serves the poor

FE REPORT 2020-11-02 09:42:38

The resumption of economic activities reduced the number of the crisis-caused "new poor" by only 1.1 percentage points to 21.7 per cent, according to a study. In the April study, the percentage of em...

Remittance inflow increases by 43pc in four months

Remittance inflow increases by 43pc in four months

-- 2020-11-01 21:38:02

Expatriate Bangladeshis sent $8,825 million remittances in the first four months of the current fiscal 2020-21, which is 43.24 per cent higher than the amount of the corresponding period of the previo...

US keen to help Bangladesh diversify its private sector

US keen to help Bangladesh diversify its private sector

-- 2020-11-01 16:56:38

The United States has said it wants to help Bangladesh to diversify its private sector to move some of it away from the ready-made garment (RMG) industry into other high-value areas including the digi...

Local govt bodies given only 1.0pc of budgetary money

Local govt bodies given only 1.0pc of budgetary money

FE REPORT 2020-11-01 09:57:11

Speakers during a webinar on Saturday said local government institutions receive only around 1.0 per cent of the total fiscal budget. They highly depend on grants and central government transfers, al...

Dhaka wants IFC to cut lending rate

Dhaka wants IFC to cut lending rate

FE Report 2020-11-01 09:48:48

Finance Minister AHM Mustafa Kamal has called upon the International Finance Corporation (IFC), the private sector lending window of the World Bank Group, to reduce the rate of interest on its loan to...

Bangladesh's public spending in July-Sept quarter slowest in years

Bangladesh's public spending in July-Sept quarter slowest in years

JASIM UDDIN HAROON 2020-11-01 09:36:08

The public expenditure increased in the first quarter (Q1) of the current fiscal year (FY2020-21) but at its slowest pace in many years. Officials blamed the Covid-19 pandemic for the decline in the...

Deposit-lending rate gap widens

Deposit-lending rate gap widens

SIDDIQUE ISLAM 2020-11-01 09:30:26

The interest rate spread in the country's banking system increased further in September 2020 as banks slashed rates on deposits more than those of lending. The weighted average spread between lending...

Bangladesh prepares to form pacts with 12 nations for retrieving black money

Bangladesh prepares to form pacts with 12 nations for retrieving black money

UNB 2020-10-31 19:46:19

The government is preparing to bring black money back to the country.  News agency UNB has learnt that the government is planning to ink taxation agreements with as many as 12 countries for allo...

Bangladesh stands out as exception to global pattern of shrinking remittances: WB

Bangladesh stands out as exception to global pattern of shrinking remittances: WB

KHAWAZA MAIN UDDIN 2020-10-31 15:21:52

Bangladesh has exceptionally denied the worldwide declining trend of remittance inflows in a pandemic-hit year, as, a World Bank projection says, the country may receive US$20 billion, or 8.0 per cent...

How COVID-19 will increase inequality in emerging markets and developing economies

How COVID-19 will increase inequality in emerging markets and developing economies

blogs.imf.org 2020-10-30 21:15:03

Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now...

US supports one million American jobs in Indo Pacific in two years

US supports one million American jobs in Indo Pacific in two years

-- 2020-10-30 20:03:07

The United States has supported nearly one million American jobs and assisted over 12,000 US companies active in Indo pacific region that includes Bangladesh since July 2018. The information was reve...

On Going China Project in Bangladesh

On Going China Project in Bangladesh

The Policy Times 2020-10-30 18:23:32

China National Machinery Import and Export Corporation (CMC) has partnered with North West Power Generation Company Limited (NWPGCL) of Bangladesh to invest, construct and operate Payra 2×660 MW...

Dhaka may receive chunk of IFC’s $4.0b global pandemic aid

Dhaka may receive chunk of IFC’s $4.0b global pandemic aid

FE Online Report 2020-10-30 16:45:16

The International Finance Corporation (IFC) will work with its partners to help recapitalise viable businesses aiming at a resilient recovery, the lending agency iterated on Friday. The IFC’s p...

German economy sees record growth in third quarter

German economy sees record growth in third quarter

REUTERS 2020-10-30 16:05:22

The German economy grew by a record 8.2 per cent in the third quarter as Europe’s largest economy partly recovered from its worst-ever recession caused by the Covid-19 pandemic, data from the Fe...

Vietnam's export turnovers rise 4.7pc in 10 months

Vietnam's export turnovers rise 4.7pc in 10 months

-- 2020-10-30 12:22:05

Vietnam's export and import turnovers in the first 10 months of 2020 increased by 4.7 per cent and 0.4 per cent year-on-year respectively, according to the country's General Statistics Office on Frida...

China's supply chain investment can address trade gap with Bangladesh: CPD

China's supply chain investment can address trade gap with Bangladesh: CPD

FE Report 2020-10-30 09:30:09

Speakers at a webinar on Thursday stressed the need for more Chinese investments in the supply chain to slash trade gap by increasing Bangladesh's exports to the East Asian nation. They said the part...

BB allows foreign investors to open temporary Taka Accounts

BB allows foreign investors to open temporary Taka Accounts

-- 2020-10-29 20:07:01

Foreign investors, from now on, can open Temporary Non-Resident Taka Account with local authorised dealers (AD)-designated banks and also with offshore banking units (OBUs) of local banks. Referring...

Forex reserves cross $41b

Forex reserves cross $41b

-- 2020-10-29 19:58:26

Bangladesh’s foreign currency reserves have surpassed $41 billion, three weeks after crossing the $40 billion for the first time. The reserves at the Bangladesh Bank stood at $41.2 billion on T...