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The Financial Express

Search results for: economy

Bangladesh's banking sector placed In BICRA Group '8'

Bangladesh's banking sector placed In BICRA Group '8'

FE Online Desk 2018-02-27 12:22:23

SINGAPORE (S&P Global Ratings) Feb. 27--S&P Global Ratings placed Bangladesh in group '8' under its Banking Industry Country Risk Assessment (BICRA) in a report, titled "Banking Industry C...

AIIB to give $60m for 220-MW plant in Bhola

AIIB to give $60m for 220-MW plant in Bhola

FE Report 2018-02-27 10:44:12

China-backed Asian Infrastructure Investment Bank (AIIB) is set to provide US$ 60 million for constructing a 220-megawatt (MW) combined cycle power plant in the southern district of Bhola. The board...

Global economy showing signs of strong growth: IMF

Global economy showing signs of strong growth: IMF

-- 2018-02-27 10:19:05

International Monetary Fund Managing Director Christine Lagarde said on Tuesday the global economy was showing broad-based growth, but the landscape was shifting with heightened risks of trade dispute...

Growth of currency outside banks triggers concern

Growth of currency outside banks triggers concern

Siddique Islam 2018-02-27 09:13:28

The volume of currency outside the banking system has grown significantly in recent months ahead of the national elections, raising suspicion about the use of such money. The currency outside the b...

Seven banks facing capital crisis of Tk 94.14b

Seven banks facing capital crisis of Tk 94.14b

-- 2018-02-26 21:55:08

There is a total deficit of Tk 94.14 billion in seven banks, four government and three private, in the country. Finance Minister AMA Muhith said it at the parliament on Monday while responding to a s...

World Bank praises China’s reform

World Bank praises China’s reform

-- 2018-02-26 21:41:00

World Bank has praised Chinese reform in a report subtitled ‘Towards a More Inclusive and Sustainable Development,’ highlighting the country’s rapid economic growth. The second larg...

S Korea's export volume growth rises

S Korea's export volume growth rises

-- 2018-02-26 20:43:11

The export volume growth of South Korea hits four months high in January on the strong demand for semiconductors, central bank data showed Monday. According to the Bank of Korea (BOK), the East As...

S'pore manufacturing output up 17.9pc in Jan

S'pore manufacturing output up 17.9pc in Jan

-- 2018-02-26 20:24:48

The manufacturing output of Singapore grew 17.9 per cent year on year in January, compared to a 3.9 percent decline last December, the Economic Development Board said on Monday. The output grew 21....

Food price marks rise in FY18, admits Muhith

Food price marks rise in FY18, admits Muhith

-- 2018-02-26 19:41:43

Food prices marked a rise in the first quarter of current fiscal FY18, admitted Finance Minister AMA Muhith on Monday. He made the statement while placing the report on budget implementation progress...

Pro-poor rice sale scheme will not hurt reserves: Minister

Pro-poor rice sale scheme will not hurt reserves: Minister

-- 2018-02-26 14:25:02

Food Minister Md Qamrul Islam claims the Tk 10-per-kg-rice welfare programme will not cut into Bangladesh’s food reserves. Despite last year’s poor harvest due to natural disasters, this...

China sees home prices rise in January

China sees home prices rise in January

-- 2018-02-26 10:38:03

China’s new home prices grew in January although major cities saw early signs of softening, as the government continued its efforts to rein in speculative demand to fend off bubble risk. The ac...

RAJUK submits proposal for land development, shifting of utilities

RAJUK submits proposal for land development, shifting of utilities

FHM Humayan Kabir 2018-02-26 10:01:56

Rajdhani Unnayan Kartripakkha (RAJUK) has a sent a project proposal to the Planning Commission for developing land and shifting facilities of utility services to pave the way for construction of Aramb...

Call for forming 'Banking Enquiry Commission' forthwith

Call for forming 'Banking Enquiry Commission' forthwith

FE Report 2018-02-26 09:48:00

The government should move to form a 'Banking Enquiry Commission' immediately to address the problems and irregularities that are 'eating away' at Bangladesh's financial sector, says an expert. "Th...

Infrastructure, policy-induced disincentives major hurdle for LLG export: Study

Infrastructure, policy-induced disincentives major hurdle for LLG export: Study

FE Online Report 2018-02-25 22:27:52

Problems regarding infrastructure pose as one of the major problems affecting the country’s leather and leather goods (LLGs) export, as per a study by Bangladesh Enterprise Institute (BEI).&nbsp...

Regulator asks banks to use Bangla in loan approval letters

Regulator asks banks to use Bangla in loan approval letters

-- 2018-02-25 19:57:55

The central bank has asked the scheduled banks to use Bangla in loan approval letters for implementing the objective of the "Bengali Language Introduction Act, 1987”. A Bangladesh Bank (BB) cir...

Utilising local coal resources a must for cheaper electricity

Utilising local coal resources a must for cheaper electricity

-- 2018-02-25 19:34:48

Fast depleting gas reserve and lack of major initiatives to develop local coal have made it difficult to achieve a sustainable local primary energy source. According to an estimate, Bangladesh would...

BRT project cost doubles

BRT project cost doubles

Munima Sultana 2018-02-25 10:19:16

Cost of the Bus Rapid Transit (BRT) project has more than doubled due to an increase in budgets for its all components, sources said. They said Roads and Highways Department (RHD), leading implementi...

Loan-recovery drive falters as defaulters bamboozle Sonali

Loan-recovery drive falters as defaulters bamboozle Sonali

Jasim Uddin Haroon 2018-02-25 09:46:49

Sonali Bank's classified credits bloated to Tk 137.98 billion in 2017 with its recovery drive dropping to 8.0 per cent as the defaulters allegedly duped the bankers. Sources in the biggest bank of...

Businesses fear political chaos will lead to economic downfall

Businesses fear political chaos will lead to economic downfall

FE Online Report 2018-02-24 19:12:12

Dhaka Chamber of Commerce and Industry (DCCI) requested political parties to refrain from hampering economic development for personal benefits ahead of national elections.    “We call...

Disparity in distribution of wealth getting bigger: Study

Disparity in distribution of wealth getting bigger: Study

-- 2018-02-24 17:48:22

In Bangladesh rising GDP growth and rising income and wealth inequalities walk hand in hand, said the Norwegian envoy in Dhaka citing a study. A recent study by the Centre for Policy Dialogue (CPD) h...

Government to initiate project for creating women ICT entrepreneurs

Government to initiate project for creating women ICT entrepreneurs

-- 2018-02-24 17:05:45

The government has designed a project to create more female entrepreneurs in the Information and Communication Technology (ICT) sector.  The 'She Power Project’, developed under the guidan...

UK economy lags behind G7 after  growth rate cut

UK economy lags behind G7 after growth rate cut

-- 2018-02-24 10:48:04

Britain’s economy was weaker than previously thought in 2017, official data showed on Thursday, leaving the country lagging further behind the global recovery as it prepares to leave the Europea...

Bangladesh budgeting 'least transparent' in South Asia

Bangladesh budgeting 'least transparent' in South Asia

Mehdi Musharraf Bhuiyan 2018-02-24 10:19:32

Bangladesh's budgeting process is least transparent in South Asia as the system lacks sufficient public participation or oversight, says a survey that attributed the lapses to institutional shortcomin...

Many nowadays prefer metal chests to banks for savings!

Many nowadays prefer metal chests to banks for savings!

Yasir Wardad 2018-02-24 10:00:27

People are now increasingly taking recourse to putting their money in metal chests, commonly known as sinduk, to avoid extra costs and risks of saving with the banking system. A spot check revealed t...

Muhith calls for boosting cotton production to cut import reliance

Muhith calls for boosting cotton production to cut import reliance

FE Report 2018-02-24 09:51:36

Finance Minister AMA Muhith has called for an end to the sugarcane cultivation in the country, saying that the lands used for growing the produce should be used for cotton production instead. "It is...

China likely to confirm $3.0b loan next month

China likely to confirm $3.0b loan next month

FHM Humayan Kabir 2018-02-24 09:35:10

The much-awaited US$3.0 billion (Tk 247.49 billion) Chinese loan for the Padma Bridge railway link mega project is likely to be confirmed next month, as Bangladesh has removed the 'obstacle' to get th...

Muhith for weaning imported cotton

Muhith for weaning imported cotton

-- 2018-02-23 19:09:34

Finance Minister AMA Muhith Friday emphasised the need to increase cotton production in order to meet ready-made garment (RMG) sector as the sector relies heavily on imported cotton. "Now, the raw ma...

Removing inequalities vital for BD: Norway

Removing inequalities vital for BD: Norway

-- 2018-02-23 16:34:44

Norway has said Bangladesh needs to make sure that the benefits of economic growth continue to reach the poor to remove inequalities in the country.  "It's important to keep up the focus on poor...

BB lowers general provision to raise housing loans

BB lowers general provision to raise housing loans

-- 2018-02-23 14:03:07

The central bank has lowered the required general provision against unclassified housing finance from 2.0 per cent to 1.0 per cent allowing banks to extend more loans for housing. Following an execut...

Islamic banking investment jumps 19pc

Islamic banking investment jumps 19pc

FE Online Report 2018-02-23 13:29:37

The total investment in the country’s Islamic banking sector jumped 19 per cent at the end of December 2017, over the same period of the previous year (2016). Statistics release by the central...