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Search results for: economy

Japanese IT companies urged to explore business opportunities in Bangladesh

Japanese IT companies urged to explore business opportunities in Bangladesh

-- 2022-06-14 18:29:17

The Japanese Information technology (IT) companies have been urged to explore business opportunity in Bangladesh as Dhaka is offering various facilities and supports to the investors in the IT sector...

ADB to provide $250m to boost social protection in Bangladesh

ADB to provide $250m to boost social protection in Bangladesh

-- 2022-06-14 18:14:30

Bangladesh Government and the Asian Development Bank (ADB) have signed an agreement for a US$250 million policy-based loan to further improve the social protection system in the country for supporting...

ECNEC clears 10 projects involving Tk 108.85 billion 

ECNEC clears 10 projects involving Tk 108.85 billion 

-- 2022-06-14 17:31:18

The Executive Committee of the National Economic Council (ECNEC) has approved a total of 10 projects involving Tk 108.85 billion.   The meeting on Tuesday approved six fresh projects and fo...

'Budget lacks clear outline to reduce inflation, boost private investment'

'Budget lacks clear outline to reduce inflation, boost private investment'

FE REPORT 2022-06-14 10:11:59

International Business Forum of Bangladesh (IBFB) on Monday said the country's proposed budget doesn't have a clear outline on how to reduce mounting inflation, boost private investment and find suppo...

New MPS reverses expansionary policy

New MPS reverses expansionary policy

SIDDIQUE ISLAM 2022-06-14 09:42:24

Formulating a new monetary policy for Bangladesh gets underway with top priority on curbing inflation and helping productive sectors for achieving maximum economic growth, officials say. The priori...

New global supports for LDCs sought at WTO meet

New global supports for LDCs sought at WTO meet

DOULOT AKTER MALA 2022-06-14 08:48:34

Bangladesh and other Least Developed Countries (LDCs) joined voices at the WTO ministerial conference to demand some "new international support measures" in the trade regime for salvaging their pand...

Taka loses its value by 50 paisa against US dollar

Taka loses its value by 50 paisa against US dollar

FE ONLINE REPORT 2022-06-13 20:53:30

The local currency further depreciated significantly against the US dollar on Monday, mainly due to higher demand for the greenback for settling import-payment obligations. The Bangladesh Taka (BDT)...

Sri Lankan paddy farmers cultivate more than expected  

Sri Lankan paddy farmers cultivate more than expected  

-- 2022-06-13 20:34:50

Sri Lankan paddy farmers are cultivating more than the average land that is farmed during the minor (Yala) cultivation season, a minister told journalists on Monday.  Agriculture Minister Mahind...

Budget does not reflect woes of pandemic-hit people: SANEM 

Budget does not reflect woes of pandemic-hit people: SANEM 

-- 2022-06-13 20:01:53

South Asian Network for Economic Modeling (SANEM) has said that there is no effort to mitigate the woes of the pandemic-hit people whose incomes were severely affected in the budget.  A large po...

BIDA, BCCCI ink deal for increasing Chinese investment 

BIDA, BCCCI ink deal for increasing Chinese investment 

-- 2022-06-13 18:40:51

Bangladesh Investment Development Authority (BIDA) and Bangladesh China Chamber of Commerce and Industry (BCCCI) has inked a Memorandum of Understanding (MoU) for working together to increase Chinese...

BGMEA wants to keep 0.5pc source tax for five years  

BGMEA wants to keep 0.5pc source tax for five years  

-- 2022-06-13 18:22:38

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to keep the source tax on export earnings unchanged for at least for next five years to help the sector over...

Bangladesh sees 22pc jump in fruit production in 12 years: Agriculture minister

Bangladesh sees 22pc jump in fruit production in 12 years: Agriculture minister

-- 2022-06-13 15:01:10

Bangladesh has become a ‘global example of success’ in fruit production over the past few years, but needs to grow the industry more to meet local demand, said Agriculture Minister Abdur...

In 'miracle' city Shenzhen, fears for China's economic future

In 'miracle' city Shenzhen, fears for China's economic future

REUTERS 2022-06-13 12:52:16

David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he worked for a succession of overseas manufacturers be...

Araihazar EZ to be test case to attract FDI, Japanese envoy tells a discussion

Araihazar EZ to be test case to attract FDI, Japanese envoy tells a discussion

FE REPORT 2022-06-13 10:25:01

Japanese ambassador to Bangladesh Ito Naoki on Sunday said the under-construction Araihazar economic zone (EZ) will be a test case for Bangladesh to attract foreign investors at a large scale. Hailin...

Malaysia firms are refusing orders due to shortage of migrant labour

Malaysia firms are refusing orders due to shortage of migrant labour

-- 2022-06-13 09:10:03

Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers that threatens the count...

No letup in exchange-rate instability, inflation rise

No letup in exchange-rate instability, inflation rise

FE REPORT 2022-06-13 08:40:31

Bangladesh's central bank has predicted instability of exchange rate and inflation upturn in the days ahead, too, while the two problems already prevail in the economy. In its quarterly publication...

Planning minister emphasises social stability for budget implementation 

Planning minister emphasises social stability for budget implementation 

-- 2022-06-12 21:30:51

Planning Minister MA Mannan has said the economy is facing tough challenges now, and social stability is a must in such a situation to implement a budget whatever its size.  Bangladesh Bank and...

Banks must focus on digitalisation, cyber security, says BB governor  

Banks must focus on digitalisation, cyber security, says BB governor  

-- 2022-06-12 20:58:20

Bangladesh Bank Governor Fazle Kabir has said banks have to raise attention to digitalisation along with investing more to protect financial operations from hackers.  He said with the developmen...

Forex reserve still at standard level: BB governor

Forex reserve still at standard level: BB governor

-- 2022-06-12 18:47:49

Bangladesh Bank (BB) Governor Fazle Kabir has said that the country's foreign exchange reserves are still in a standard level.   "The reserves stood at US$41.7 billion, which is good enough to s...

FDI in Bangladesh rose to $2.9bn in 2021, around pre-pandemic level: UNCTAD

FDI in Bangladesh rose to $2.9bn in 2021, around pre-pandemic level: UNCTAD

-- 2022-06-12 13:13:25

With the economy back to normal amid a rapid fall in COVID-19 cases, foreign direct investment or FDI in Bangladesh has increased almost to the pre-pandemic level, according to the United Nations Conf...

Swindled money repatriation: UnSy urges rethinking of decision

Swindled money repatriation: UnSy urges rethinking of decision

FE REPORT 2022-06-12 09:21:41

Local think-tank Unnayan Shamannay (UnSy) urges the government to reconsider its decision to allow launderers to bring back their money from abroad through paying some penalty. If such scheme is in p...

Economists slam less than expected SSNP allocation

Economists slam less than expected SSNP allocation

FHM HUMAYAN KABIR 2022-06-12 09:04:09

Economists have strongly criticised reduction in budgetary allocations for social safety-net programmes (SSNP) amid higher inflationary pressure in the country. When vulnerable groups have the possib...

Govt liabilities over SOEs' loan guarantees growing

Govt liabilities over SOEs' loan guarantees growing

JASIM UDDIN HAROON 2022-06-12 08:41:09

Government liabities over outstanding loans of the state-owned enterprises (SOEs) goes ballooning as they owe Tk 926.01 billion to local and foreign lenders, sources say. The SOE debt overhang, fol...

Proposed budget keeps low-income people under tax net: Wahiduddin Mahmud

Proposed budget keeps low-income people under tax net: Wahiduddin Mahmud

-- 2022-06-11 23:01:59

Renowned economist Professor Wahiduddin Mahmud has said proposed budget for upcoming fiscal year has kept low-income people under provision of income tax, avoiding effective measures against tax dodgi...

Abdur Rouf Talukder named central bank governor

Abdur Rouf Talukder named central bank governor

FE ONLINE DESK 2022-06-11 17:05:16

Finance Secretary Abdur Rouf Talukder will lead the Bangladesh Bank as the governor for the next four years, the finance ministry's Financial Institutions Division said in a notice on Saturday. Accor...

Children get little attention in budget

Children get little attention in budget

SAJIBUR RAHMAN 2022-06-11 13:45:25

Like last two consecutive fiscal years, the child-centric budget report has not been published this year too, thus indicating the government's little attention on their development and wellbeing. T...

Pakistan adopts painful economic path to secure IMF bailout

Pakistan adopts painful economic path to secure IMF bailout

-- 2022-06-11 10:38:13

Pakistan will raise taxes for rich, cut tax leakages and privatise government assets as the cash-strapped nation looks to bring back fiscal rectitude to convince the International Monetary Fund (IMF)...

BCI sees FY23 budget as 'time-befitting'

BCI sees FY23 budget as 'time-befitting'

FE REPORT 2022-06-11 09:40:53

The Bangladesh Chamber of Industries (BCI) hails the proposed national budget as 'time-befitting' as it attempted to prioritise people's needs amid challenges from the pandemic and the war. It, how...

Be frugal in forex spending, suggests MCCI

Be frugal in forex spending, suggests MCCI

FE REPORT 2022-06-11 09:00:26

Hailing the Tk 6.78-trillion national budget proposed amid ongoing global uncertainties, Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) suggests the government to be frugal in spending...

US annual inflation posts largest gain since 1981

US annual inflation posts largest gain since 1981

-- 2022-06-10 23:46:31

US consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40-1/2 years, suggesting that the Federal Reser...