Loading...

Search results for: economy

'Bangladesh economy to outshine Malaysia, Singapore, Hong Kong by 2024'

UNB January 03, 2020 19:51:12

Bangladesh’s economy will outshine the economy of Malaysia, Hong Kong and Singapore with its presence as the 30th largest economy in the world by 2024, says a new report. The global report, tit...

Oil price rises on fear of Iranian retaliation against US

Associated Press January 03, 2020 19:00:16

The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran's top general. News that Gen. Qassem Soleimani, h...

US weekly jobless claims drop to 222,000

-- January 03, 2020 13:47:23

The number of initial jobless claims in the United States dropped last week, according to a report released by the US Bureau of Labor Statistics on Thursday. The number of people filing for US unempl...

Private sector credit growth drops below 10pc

-- January 03, 2020 12:54:45

Before bringing down the lending rates to single digit, the growth of credit flow to the private sector has dropped below 10 per cent, which analysts have called “worrying” for the economy...

Gear up efforts to ensure duty-free market access

FE REPORT January 03, 2020 10:58:17

The government on Thursday directed the Bangladesh missions abroad to gear up efforts for ensuring duty-free access of the country's products to the global market in the post-LDC period. In a letter...

Singapore posts decade-low growth in 2019

-- January 02, 2020 14:40:15

Singapore’s economy expanded at its slowest pace in a decade last year as its manufacturing sector contracted, preliminary data showed on Thursday. The export-oriented economy has been hit hard...

Israel's agricultural damages reach $77m in 2019

-- January 02, 2020 12:43:21

Israeli agricultural damages totalled 265 million new shekels (about 77 million US dollars) in 2019, according to a government report published Wednesday. The average annual damage over the last 5 ye...

Oman approves 2020 budget

-- January 02, 2020 12:33:10

Sultan Qaboos bin Said of Oman has issued a royal decree that approves the country's general budget for the fiscal year 2020. According to a statement of the Omani Ministry of Finance, the revenue of...

Foreign aid rises by 9.0pc in Jul-Nov

FHM HUMAYAN KABIR January 02, 2020 10:42:43

Foreign aid commitment to Bangladesh dropped by 47 per cent to US$2.6 billion in the first five months of the current fiscal year compared to that of the same period last fiscal, officials said on Mon...

Banks’ rural branches rise to 10,467

FE REPORT January 02, 2020 10:39:32

Banks are fast expanding into rural areas to bring the yet unbanked people under financial inclusion to help economy grow, people in the banking system said. According to the data available with the...

Medium-term strategy: 'Revenue think-tank' to support formulation

DOULOT AKTER MALA January 02, 2020 10:38:40

The government has decided to establish a 'revenue think-tank' to support its proposed medium-term revenue strategy (MTRS), aimed at increasing the tax-GDP ratio. The country's tax-GDP ratio -- aroun...

Remittance rises by 18pc in 2019

SIDDIQUE ISLAM January 02, 2020 10:17:02

Inward remittance grew by nearly 18 per cent to a record $18.42 billion in the just-passed 2019 for a government effort to incentivise remitters. The figures jumped from $15.53 billion in 2018, accor...

Single-digit interest rate likely from April: Minister

-- January 01, 2020 22:19:25

Finance Minister AHM Mustafa Kamal on Wednesday said the implementation of the proposed single-digit interest rate has been deferred by three months to avoid complications. “Hopefully, the sing...

S Korea's export posts double-digit fall in 2019

-- January 01, 2020 13:49:37

South Korea's export logged a double-digit fall last year, marking the first yearly decline in 10 years, a government report showed Wednesday. Export, which accounts for about half of the export-driv...

Flashback 2019 Economy: RMG sector faces ups and downs

MONIRA MUNNI January 01, 2020 10:38:52

The country's readymade garment (RMG) sector went through ups and downs last year, prompting industry insiders to seek immediate policy support to tackle the challenges still ahead of them. Althoug...

Retrieving laundered money: Govt body moots tax detectives in BD missions

SYFUL ISLAM January 01, 2020 10:03:36

A government body has suggested appointing 'tax detectives' in Bangladesh missions abroad, updating the double-taxation deal with Switzerland and exchanging views with the countries where most of the...

Mongolia's economy grows 7.3 pc in 2019

-- December 31, 2019 14:58:59

The prime minister of Mongolia Ukhnaa Khurelsukh said the country’s economy grew around 7.3 per cent year on year in 2019, compared to 1.2 per cent in 2016. The Prime Minister revealed the info...

Brazilian analysts predict 2.3pc economic growth in 2020

-- December 31, 2019 14:43:46

Brazilian financial analysts elevated projections for the growth of the country's gross domestic product (GDP) in 2020 from 2.28 to 2.30 per cent, the Central Bank announced on Monday. According to t...

Flashback 2019 Economy: GDP growth only bright spot

JASIM UDDIN HAROON December 31, 2019 11:57:11

Almost all key economic indicators fell in 2019, though GDP (gross domestic product) growth was robust in the outgoing year, according to official data. Economists said some new indicators that were...

Falling exports, slow pvt credit major weaknesses

ADNAN HOSSAIN BHUIYAN December 31, 2019 11:51:19

The country's businesses identified negative export growth, revenue shortfall, falling private sector credit growth, rising levels of default loans and heavy government bank borrowing as major worries...

Ministry doubles LNG import terminal, re-gasification capacity

M AZIZUR RAHMAN December 31, 2019 11:40:34

The power and energy ministry doubled the LNG import terminal and re-gasification capacity and added 2,153 megawatt (MW) of electricity totalling the country's overall installed capacity to 19,467 MW...

Robust growth is something to cheer about in 2019

FE REPORT December 31, 2019 10:04:55

The economy has faced a number of new challenges on its business and fiscal fronts in 2019, even though the political atmosphere has been peaceful, according to economists and businesses. The new cha...

Govt debt edges up in FY '19

JASIM UDDIN HAROON December 30, 2019 11:29:01

Public debt increased slightly in the last financial year (FY) due to the rise in fiscal deficit crossing the benchmark 5.0 per cent. In a recent publication, the International Monetary Fund, or IMF,...

Slower external trade may impact growth

FE REPORT December 30, 2019 09:58:19

The slowdown in its external trade might hurt the country's pace of economic growth in the current fiscal year. But a robust growth of workers' remittance is likely to act as counterweight in this re...

Philippines records 8.0m foreign tourists this yr

-- December 28, 2019 13:41:14

Tourism is booming in the Philippines with more than eight million visitors coming in 2019, the government said on Saturday. "Breaking the eight-million mark is another milestone to celebrate, as it...

Starting upbeat, BD economy ends 2019 tanking

-- December 28, 2019 11:43:16

Bangladesh began 2019 with things looking up on the economic front coupled with political stability after vote, but concerns have blunted it at the end of the year. The pace gathered in the past few...

India's financial system stable despite weaker economic growth: RBI

REUTERS December 28, 2019 10:53:51

India’s financial system remains stable even after economic growth plummeted to a six-year low, the Reserve Bank of India (RBI) said on Friday. “Reviving the twin engines of consumption a...

Remittance flow to rise 18pc in the outgoing yr

Siddique Islam December 28, 2019 10:46:31

The flow of inward remittance is set to jump more than 18 per cent or US$2.80 billion in the outgoing calendar year 2019 as the government has provided incentive to the beneficiaries against inward re...

Lower tax growth delays routine budget review

JASIM UDDIN HAROON December 28, 2019 09:51:34

The slow revenue mobilisation has started impacting the national budget execution process, prompting the authorities to delay reviewing the fiscal blueprint. Officials at the finance division of the...

Benapole falls short of its revenue target

-- December 27, 2019 19:26:52

Benapole Customs House has failed to achieve its revenue collection target between July and November, collection only half of its initial target. Uttam Chakma, assistant commissioner of the Customs H...