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Search results for: economy

Argentine central bank chief Sandleris steps down

Reuters December 05, 2019 11:42:02

Argentina central bank chief Guido Sandleris resigned on Wednesday, an expected step as Latin America’s third-largest economy transitions to Peronism next week under newly elected President Albe...

Govt likely to cut foreign aid allotment in RADP

FHM Humayan Kabir December 05, 2019 10:33:54

The government is likely to slash foreign aid allocation in the upcoming revised development budget, as many ministries and divisions have sought lower funds, officials said on Wednesday. The Econo...

BB relaxes rules on repaying buyer's credit by importers

FE Report December 05, 2019 10:30:54

The central bank has relaxed regulations on short-term buyer's and supplier's credit borrowed from overseas sources for making payments on import of industrial raw materials. Importers are now allo...

NBR revenue falls 24pc short of July-Oct target

DOULOT AKTER MALA December 05, 2019 10:10:18

The first four months of the current fiscal year saw a tax revenue shortfall of around Tk 202.20 billion against the target. However, the volume of tax revenue collection registered a poor 4.33 per c...

Kamal for sector-wise, demand-based financing

BSS December 04, 2019 17:45:24

Finance Minister AHM Mustafa Kamal on Wednesday underscored the need for ensuring sector-wise and demand-based financing for those countries which are lagging behind in the economic and social sectors...

Trump comments, Uighur bill hurt prospects of US-China deal

Reuters December 04, 2019 13:57:03

US President Donald Trump’s comments that a trade agreement with China may have to wait until late 2020 and a House of Representatives bill targeting camps for Muslims in Xinjiang have cast doub...

Afghan gov't approves 35 contracts worth $46m

-- December 04, 2019 13:47:08

The Afghan government's National Procurement Commission (NPC) has approved 35 contracts worth 46 million US dollars, the Presidential Palace said on Wednesday. The NPC presided by President Mohammad...

Manila rejects BD's claim for RCBC fine money

FE Report December 04, 2019 10:12:31

The Philippines has declined Bangladesh's claim for the 20 million US dollars the Rizal Commercial Banking Corp (RCBC) was fined for its negligence in the $81 million Bangladesh Bank heist. "As it wi...

Industrial lending rate cut: BB gets down to work

SIDDIQUE ISLAM December 04, 2019 09:58:31

The central bank has started working on bringing down the industrial lending rate to a single-digit aiming to spur the country's overall economic growth through job creation and increased investment....

ADB approves $400m loan for Philippines

-- December 03, 2019 13:41:41

The Asian Development Bank (ADB) said on Tuesday that it has approved a 400 million US dollars policy-based loan to support the Philippine government's efforts to reduce the number of out-of-school an...

Number of tax returns from new taxpayers poor this year

DOULOT AKTER MALA December 03, 2019 10:01:49

The number of income tax returns, submitted by individual taxpayers until the deadline (December 01), remained far below taxmen's expectations. The number increased by only 0.1 million this year desp...

Govt almost exhausts bank borrowing target in five months

SIDDIQUE ISLAM December 03, 2019 09:50:31

The government is set to make a net borrowing of more than Tk 45 billion from the country's banking system in December to partly meet its budget deficit, officials said. The government's gross borrow...

Remittance inflow increases by 31.75pc in November

-- December 02, 2019 19:12:18

Bangladesh received $1,555.22 million in remittance in November of the current fiscal, which is apparently 31.75 per cent higher than that of same month of previous year, according to Bangladesh Bank...

US online shoppers spend $68 billion in Nov

-- December 02, 2019 12:31:43

US online shoppers spent 68.1 billion US dollars in November, with 7.4 billion dollars on Black Friday (Nov. 29) alone, data from the web analytics tool Adobe Analytics showed. US online shoppers spe...

ADB elects new president

-- December 02, 2019 10:42:14

The Asian Development Bank (ADB) announced on Monday that its Board of Governors has "unanimously elected" Masatsugu Asakawa as ADB president. Asakawa, 61, currently special advisor to Japan's prime...

Economic slowdown in India to impact BD, fears Muhith

FE REPORT December 02, 2019 10:00:08

Former finance minister A M A Muhith has said Bangladesh's economic growth might be impacted by the slowing down of neighbouring India's economy. "To my mind, the ongoing sluggish trend of Indian eco...

Govt to form panel to ensure single digit interest rate

-- December 01, 2019 17:22:25

The government is set to form a panel with the task of bringing interest rates down to a single digit. Finance Minister AHM Mustafa Kamal gave the information after a meeting with leaders of the bank...

India plans to invest $1.39 trillion in infrastructure to spur economy

-- December 01, 2019 14:11:21

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on S...

50,000 workers may return home under Malaysia's B4G scheme

ARAFAT ARA December 01, 2019 10:20:26

About 50,000 Bangladeshi workers would have to return home from Malaysia by this month under 'Back 4 Good (B4G) scheme announced by Kula Lumpur, according to Bangladesh High Commission there. The Mal...

FinMin’s parley with banking bosses: Troubled loans to top agenda

REZAUL KARIM AND FHM HUMAYAN KABIR December 01, 2019 10:01:10

Finance minister will sit with chiefs of private and public sector banks to discuss the issues of non-performing loans and banking sector volatility, officials said. Officials said finance minister A...

China's growth forecast at 6.1pc for 2020

Xinhua November 30, 2019 16:25:17

The annual growth rate of China's economy is projected at 6.1 per cent, according to a report by the Bank of China (BOC). "The overall verdict is cautiously optimistic," the BOC Research Institute sa...

Russian c bank raises 2019 GDP growth forecast

-- November 30, 2019 11:34:04

The Central Bank of Russia said Friday it had increased its forecast for the country's gross domestic product (GDP) growth this year because of positive economic growth in the third quarter (Q3) and O...

Taka losing value vs dollar

SIDDIQUE ISLAM November 30, 2019 10:10:25

The local currency has depreciated by Tk 1.0 against the US dollar so far this year in the inter-bank foreign exchange market as demand for the greenback grew. The dollar was quoted at Tk 84.90 eac...

Dhaka to seek $3.0b Chinese aid

FHM HUMAYAN KABIR November 30, 2019 10:06:03

Bangladesh will seek US$3.0 billion in aid from China for the next three years in the upcoming joint working group meeting to be held on Monday, officials said. It will also seek relaxation of term...

Japan's factory output slips in October

-- November 29, 2019 11:58:10

Japan’s industrial output slipped at the fastest pace since early last year in October, exposing widening cracks in the economy which faces a decline in domestic and foreign demand. Factory out...

UK consumer confidence stuck at six-year low

-- November 29, 2019 11:50:44

British consumer confidence remained stuck at its joint-lowest level since 2013 in November as uncertainty around the Dec. 12 election and Brexit weighed on households, a survey showed on Friday. Mar...

Bangladesh can 'attract $20b from CACCI nations' investors'

FE Report November 29, 2019 10:40:05

Bangladesh may be able to attract new investments worth over US$ 20 billion in different sectors of the country. The member countries of the Confederation of Asia-Pacific Chambers of Commerce and Ind...

0.1m businesses take new BINs

FE Report November 29, 2019 10:34:21

About 0.1 million businesses have taken 13-digit Business Identification Numbers (BINs) until Thursday through obtaining fresh one or updating their existing VAT registration number. The deadline for...

Third-party evaluation can cure ill cos: Analysts

FE REPORT November 29, 2019 10:27:33

Analysts on Thursday laid emphasis on strict evaluation of the financial reports of the companies by a third-party to shield the financial market from vulnerabilities. They suggested the government...

Provisions shortfall soars in nine months

Siddique Islam November 29, 2019 10:15:16

The provisions shortfall against classified loans in the country's banking system swelled by nearly 23 per cent or Tk 15.15 billion during the first nine months of the calendar year. The total shortf...