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The Financial Express

Search results for: economy

Economists fear family ‘oligopoly’ in banking

Jasim Uddin Haroon January 18, 2018 10:21:35

Financial experts said majority stakeholders of banks disfavor the latest legal amendment as they fear inducting four members of a family into bank boards would help establish oligopoly in the banki...

Amendment to policy on VAT consultants' appointment soon

Doulot Akter Mala January 18, 2018 09:54:52

The revenue authorities will recast the policy on appointment of VAT consultants to prevent alleged abuse of licence for this service and appoint more such go-betweens in the tax collection. Official...

Taka falling against US$ despite BB's support

Siddique Islam January 18, 2018 09:36:29

Depreciating trend of the local currency against the US dollar is continuing despite the central bank's foreign currency support to the commercial banks. The exchange rate of Bangladesh Taka (BDT)...

LPG demand to reach 3.0m tonnes by 2025

FE Online Report January 17, 2018 21:34:47

World LPG Association (WLPGA) sees Bangladesh as one of the fastest-growing LPG markets across world and predicted that demand for the fuel might reach upto 3.0 million tonnes by 2025. WLPGA director...

Thrust on BD to make excellent SDG progress

-- January 17, 2018 21:16:16

Bangladesh, following its outstanding progress made earlier on the key millennium development goals (MDGs), can make similar progress in line with the sustainable development goals (SDGs). Mission Di...

Saudi Arabia moves to back weak Yemeni currency

-- January 17, 2018 16:02:18

Saudi Arabia’s King Salman ordered a deposit of $2 billion to be paid into Yemen’s central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said. The move was...

Germany-BD sign €330m deal to fight climate change

-- January 17, 2018 16:01:47

Germany and Bangladesh sign €337.2 million deal to support sustainable development. It includes €216 million towards climate smart agriculture programmes and modernising the electricity gri...

S’pore exports growth slows in Dec

-- January 17, 2018 14:24:43

Growth in Singapore’s export sector slowed more than expected in December from a year earlier due to a fall in electronics trade and the first decline in shipments to China in more than a year....

Russia to spend more on healthcare, education: WB

-- January 17, 2018 13:47:49

Russia’s new government should invest more in education and healthcare to help spur the country’s economic growth, the World Bank’s chief executive officer said on Tuesday. Presiden...

Trade gap with India reaches $5.47 billion

FE Online Report January 17, 2018 11:59:06

The country’s trade deficit with India stood at $5.47 billion in the past fiscal year (FY17) mainly due to a surge in imports from the next door neighbour. Merchandise import from India jumped...

Skilled workers' outflow jumps by 36pc

Arafat Ara January 17, 2018 10:07:57

The outflow of Bangladeshi skilled workers surged by more than 36 per cent last year compared with a year ago helped by the government efforts, officials said. A total of 434,344 skilled workers went...

Multilayer taxation on dividend hurting investment growth

M Azizur Rahman January 17, 2018 09:52:21

Big entrepreneurs shy away from reinvesting their profit in new ventures or limiting necessary expansions in fear of huge monetary losses under Bangladesh's 'complex' multilayered dividend-taxation sy...

79 source points of illegal gas connections remain untouched

Jubair Hasan January 17, 2018 09:47:53

Seventy nine source points of illegal gas connections in the capital, largely contributing to the ongoing gas crisis, have been untouched due to reasons hitherto unknown. No possibility is seen to ta...

Amended bank law allows four family members on board

-- January 16, 2018 21:18:54

Four members of a family instead of existing two now can be inducted in the board of directors of a bank at a time. The parliament on Tuesday approved the Bank Company (Amendment) Bill 2018, keeping...

Nigerian inflation slows to 15.37pc in Dec

-- January 16, 2018 15:21:33

Nigerian inflation slowed for the 11th month in a row in December, to 15.37 per cent from 15.90 per cent a month before, the head of the National Bureau of Statistics (NBS) said on Tuesday. The NBS...

China likely to target 6.5pc GDP in 2018

-- January 16, 2018 14:48:38

China is likely set its 2018 economic growth target at around 6.5 per cent as a government-led crackdown on debt risks and factory pollution drag on overall activity, a Reuters poll showed. The poll...

Mauritius to hire more Bangladeshi workers

FE Report January 16, 2018 11:49:35

Satisfied with the performance of Bangladeshi migrants, Mauritius said it would hire more workers from Bangladesh in different sectors. A memorandum of understanding (MoU) will be signed between the...

Revenue growth may remain well below the target

Doulot Akter Mala January 16, 2018 09:34:29

Growth in this fiscal's government tax-revenue collection may decline substantially, economists predict, as the first-half receipts fell short of target by Tk 126.21 billion. They read a reflection o...

Record number of workers went abroad in 2017 

-- January 15, 2018 22:27:11

A record number of 1.01 million workers went abroad in 2017, which is roughly 0.25 million more than that of the previous year. Expatriates' Welfare and Overseas Employment Minister Nurul Islam infor...

Meeting with donors to begin Wednesday

FE Online Report January 15, 2018 17:56:03

The government-development partners meeting, Bangladesh Development Forum (BDF), will begin on Wednesday in Dhaka with the presence of high officials from major donor agencies. The government officia...

BAPEX estimates 600b cubic feet gas reserve in new well

-- January 15, 2018 17:29:42

State-owned Bangladesh Petroleum Exploration and Production Company (BAPEX) hopes that natural gas in new-found Bhola field will be nearly 600 billion cubic feet. An exploratory well at Bheduria in t...

BoJ chief expects to hit inflation goal

-- January 15, 2018 15:12:07

Bank of Japan Governor Haruhiko Kuroda on Monday reiterated his expectation to achieve the central bank’s ambitious 2.0 per cent inflation target. The BoJ governor’s positive comments on...

Swedish apartment prices fall in Q4

-- January 15, 2018 14:49:40

Swedish apartment prices fell 2.0 per cent in the fourth quarter (Q4) from the same period a year earlier, data from an association of the country’s real estate agents showed on Monday. Prices...

Peru economy grows 1.78pc in Nov

-- January 15, 2018 14:24:53

Peru’s economy grew by 1.78 per cent in November from the same month a year earlier thanks to a surge in foreign demand for the country’s mineral exports, state statistics agency Inei said...

Banks’ interest rate spread falling

Siddique Islam January 15, 2018 10:38:50

A declining trend of interest rate spread in the country's banking sector continued until November, as the commercial banks slashed their interest rates more on lending than on deposits, officials sai...

Half of NGOs still out of tax net

Doulot Akter Mala January 15, 2018 10:19:13

Half of the country's non-government organisations (NGOs) are still remained out of the tax net, causing significant losses of direct tax. Of the total 961 NGOs registered with the NGO Affairs Bureau...

Spain seeks EU’s assistance from economic meltdown

-- January 14, 2018 22:19:55

Spanish tourism, finance and agriculture could be badly damaged if the EU fails to broker a deal with the UK over Brexit, the nation’s regional officials have warned. The EU’s European Co...

BD worst among SA countries in production readiness index

Nashir Uddin with SM Nazmus Sakib January 14, 2018 21:46:25

Bangladesh has been positioned as the poorest performer among its South Asian neighbours in a latest worldwide ranking. The Switzerland-based World Economic Forum (WEF) has published the evaluation t...

Finance minister disproves CPD statement terming it ‘rubbish’

-- January 14, 2018 20:00:36

Finance Minister Abul Maal Abdul Muhith came down heavily on Centre for Policy Dialogue (CPD) saying it never recognised the country's achievements. On Sunday, he also labelled the local think-tank&r...

‘Low’ vegetable output yet to meet consumer requirements

-- January 14, 2018 19:30:27

The vegetable varieties grown on less than one-tenth (9.38 pc) of the country's total cultivable lands can cater to one-third (32 pc) of the consumers’ daily requirements. The information was r...