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The Financial Express

Search results for: economy

Bangladesh acquires 1.0pc stake of New Development Bank

Bangladesh acquires 1.0pc stake of New Development Bank

FHM HUMAYAN KABIR 2021-09-12 10:03:27

Bangladesh finally attains 1.0- per cent share in the Shanghai-based New Development Bank (NDB) as the country has been offered one of three fortunate shareholders after the five founding BRICS nati...

Green investments to be part of EU budget rules review

Green investments to be part of EU budget rules review

-- 2021-09-12 09:28:05

The possibility of exempting “green” investments from EU deficit calculations will form part of discussions when EU budget rules are revised, European Commission Vice President Valdis Domb...

Economy faces challenges of revenue shortfall and defaulting bank loans: Document

Economy faces challenges of revenue shortfall and defaulting bank loans: Document

-- 2021-09-11 17:38:18

Revenue deficit defaulting bank loans and worsening poverty situation due to COVID-19 are causing some problems in the country’s economy. According to a budgetary document, revenue deficit and...

IMF to launch virtual mission to Belarus to gather information about economic developments

IMF to launch virtual mission to Belarus to gather information about economic developments

-- 2021-09-11 10:47:52

The International Monetary Fund on Friday said it would begin a virtual mission to Belarus, amid concerns raised about the global lender's disbursement of new emergency reserves to the government of p...

Reduction in service charge for microfinance institutions uncertain

Reduction in service charge for microfinance institutions uncertain

ISMAIL HOSSAIN 2021-09-11 09:07:52

A government move to cut service charge for microcredit operations remains stuck in limbo, especially for non-cooperation from the sector. Seven months ago, the regulator initiated to slash the cur...

Ministries alerted to lax execution of development budget

Ministries alerted to lax execution of development budget

REZAUL KARIM 2021-09-11 09:00:45

Lax execution performance and under-par quality of works prompted the high-ups to ask all ministries and divisions to ensure proper supervision to check misuse of state funds in development projects...

Single-point mooring to save govt Tk 8.0b per annum

Single-point mooring to save govt Tk 8.0b per annum

M AZIZUR RAHMAN, Back from Moheshkhali 2021-09-11 08:39:54

The government would save Tk 8.0 billion annually by cutting the carrying cost of petroleum products from outer anchorage to fuel tankers once the SPM (single-point mooring) project is complete. An e...

BB softens terms, extends time for SME loan disbursement

BB softens terms, extends time for SME loan disbursement

FE REPORT 2021-09-10 10:56:09

The central bank of Bangladesh Thursday eased some rules related to implementation of the corona recovery stimulus package dedicated to cottage-micro-SME sector, as they had faced odds in accessing th...

Bangladesh eases rules for re-exporting products returned by foreign buyers

Bangladesh eases rules for re-exporting products returned by foreign buyers

DOULOT AKTER MALA 2021-09-10 10:52:13

Re-export of products returned by foreign buyers to Bangladesh has been simplified through relaxing restrictions in customs rules under a special order, now that a crunch time prevails over the world....

Business leaders, bankers explore solution to long-term lending for smaller units

Business leaders, bankers explore solution to long-term lending for smaller units

FE REPORT 2021-09-10 10:48:21

The country's business leaders and top bankers have stressed the need for a collective effort to find a solution to a long-term lending for industries, especially for the small and medium enterprises...

Chaos bleeding Libya's economy

Chaos bleeding Libya's economy

-- 2021-09-10 08:37:36

Libya should reunify its fragmented economic system and public funds if it stands any hope of ending a decade of violent division, however, strikes in direction of that purpose are making gradual prog...

Racial inequities cost US economy more than $50tn since 1990, researchers say

Racial inequities cost US economy more than $50tn since 1990, researchers say

-- 2021-09-09 10:51:22

Racial and ethnic inequities have cost the US economy some $51 trillion in lost output since 1990, San Francisco Federal Reserve President Mary Daly said Wednesday, citing data from a paper she and th...

US employers struggle to find workers

US employers struggle to find workers

-- 2021-09-09 08:45:27

US job openings raced to a new record high in July while layoffs rose moderately, suggesting last month's sharp slowdown in hiring was due to employers being unable to find workers rather than weak de...

101 countries depend on commodity exports

101 countries depend on commodity exports

FE ONLINE REPORT 2021-09-08 16:18:03

Commodity dependence increased from 93 countries in 2008–2009 to 101 countries in 2018–2019 over the last decade, according to the latest report of the United Nations Conference on Trade a...

Govt to provide automated services to taxpayers

Govt to provide automated services to taxpayers

-- 2021-09-08 15:38:35

The government has taken several measures to provide seamless services to the taxpayers through automation and digitalisation of Income Tax, VAT and Customs Departments under the National Board Revenu...

China sees surprising boost in exports

China sees surprising boost in exports

-- 2021-09-08 11:33:32

China's exports unexpectedly grew at a faster pace in August thanks to solid global demand, helping take some of the pressure off the world's second-biggest economy as it navigates its way through hea...

Fastest-growing e-commerce left rudderless, taxmen in a quandary over taxing virtual trade

Fastest-growing e-commerce left rudderless, taxmen in a quandary over taxing virtual trade

DOULOT AKTER MALA 2021-09-08 08:23:55

The fastest-growing e-commerce that has been carrying out trade transactions worth billions is yet to get government recognition as a business category, sources say. The e-commerce businesses do not...

Cautious rope walking wise for Bangladesh skipping any orbit, say policy researchers

Cautious rope walking wise for Bangladesh skipping any orbit, say policy researchers

FE REPORT 2021-09-07 10:17:58

Bangladesh should proactively engage with the World Trade Organisation (WTO) to redress any fallout from the emerging geopolitics-geoeconomics diarchies in aftermaths of pandemic and the country's...

Bangladesh Bank launches Tk 5b credit scheme for low-income people

Bangladesh Bank launches Tk 5b credit scheme for low-income people

FE REPORT 2021-09-06 09:16:54

The Bangladesh Bank (BB) launched a Tk 5.0-billion re-financing scheme on Sunday to help mitigate adverse impact of the Covid-19 pandemic on the marginal/landless farmers, low-income groups, school...

Tax waivers erodes 8.0pc of Bangladesh's tax-GDP ratio

Tax waivers erodes 8.0pc of Bangladesh's tax-GDP ratio

FE REPORT 2021-09-06 09:09:46

Tax exemptions are eroding 8.0 per cent from Bangladesh's tax-GDP ratio, but the government's revenue authority says it is necessary to spur economic growth. Bangladesh's tax-GDP ratio is one of th...

UAE announces plans to attract $150b FDI, foreign workers

UAE announces plans to attract $150b FDI, foreign workers

-- 2021-09-06 09:06:23

The United Arab Emirates plans to launch 50 new economic initiatives to boost the country's competitiveness and attract 550 billion dirhams ($150 billion) in foreign direct investment in the next nine...

FT starts financial literacy campaign

FT starts financial literacy campaign

FE ONLINE DESK 2021-09-05 13:42:04

Financial Times (FT), the leading economic and financial daily across the world, starts its ‘bold new charitable initiative’ on financial literacy.  The FT Financial Literacy and Inc...

Rats, drought, labour shortages during pandemic eat into edible oil recovery

Rats, drought, labour shortages during pandemic eat into edible oil recovery

-- 2021-09-05 10:56:34

In a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented cows graze in overgrown areas of t...

Call for inclusive growth, attention to environment

Call for inclusive growth, attention to environment

FE REPORT 2021-09-05 08:40:08

The prevailing Covid-19 pandemic has created new challenges like the rise of new poor and vulnerability of marginalised businesses for Bangladesh towards achieving sustainable development goals (SDG...

Revenue board plugs hole to stop VAT evasion

Revenue board plugs hole to stop VAT evasion

DOULOT AKTER MALA 2021-09-05 08:30:19

Government's revenue authority has issued new directives to check VAT evasion and also simplify the process of business operations of cigarette companies, who, nevertheless, pay a king's ransom to t...

Corporate debts may get costlier in Bangladesh

Corporate debts may get costlier in Bangladesh

JASIM UDDIN HAROON 2021-09-05 08:15:52

Bangladesh's private corporate organisations may feel economic pressures from a blowback as the US Fed prepares to squeeze its spendthrift pandemic supports in a corrective action likely to cause 'tap...

Dhaka to start feasibility study on PTA or FTA with Singapore

Dhaka to start feasibility study on PTA or FTA with Singapore

FE REPORT 2021-09-04 10:42:24

Dhaka has started the process to conduct a feasibility study on signing either a PTA or FTA with Singapore, aiming to further strengthen economic and trade ties with the Southeast Asian country, off...

Bangladesh's all but two fast-track projects miss deadlines

Bangladesh's all but two fast-track projects miss deadlines

FHM HUMAYAN KABIR 2021-09-04 09:27:16

All the fast-track projects in Bangladesh, save two, missed execution deadlines to entail massive cost escalation, insiders said. The Padma Bridge, its rail link, Rampal power plant, Pyra seaport d...

Central bank endorses BDRAL as full-fledged credit rating agency

Central bank endorses BDRAL as full-fledged credit rating agency

FE REPORT 2021-09-03 09:36:22

The Bangladesh Bank (BB) recognised Bangladesh Rating Agency Limited (BDRAL) as a full-fledged credit rating agency (CRA) on Thursday. BDRAL earlier used to rate only SMEs (small and medium enterpr...

Longer lifespan, nuclear family need new pension system

Longer lifespan, nuclear family need new pension system

FE REPORT 2021-09-03 09:05:45

Longer life expectancy, coupled with the gradual disappearance of the extended family system, makes it imperative for Bangladesh to design a robust pension system to avoid impoverishment in old age...