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Search results for: economy

Fed official sees biggest risk to US economy from tariffs

-- November 22, 2019 12:46:14

The biggest risk to the overall US economy remains tariffs and trade as businesses have cut back on investment, a US Federal Reserve official has said. "Right now, overall, my base case scenario is c...

BB waives PKB from keeping 13pc SLR

FE REPORT November 22, 2019 12:15:30

The central bank has waived the Probashi Kallyan Bank (PKB) from maintaining the stipulated statutory liquidity ratio (SLR) in line with the existing Banking Companies Act 1991. The state-owned speci...

Online transactions hampered by new credit card rule

-- November 21, 2019 18:33:41

A new rule requiring customers to obtain a certificate before completing a transaction online is causing people a lot of grief with businessmen in the IT sector suffering in particular. Bangladesh Ba...

ADB introduces new loan pricing for higher income countries

-- November 21, 2019 13:55:37

The ADB has introduced a new loan pricing for its developing member countries and economies with higher income sub-groups paying higher maturity premiums for longer term loans. The Asian Development...

Remittance incentives: Conversion of local currency allowed

FE Report November 21, 2019 10:44:32

Remitters who will wire $1,500 or equivalent amount of other currencies or Tk 150,000 will be eligible for receiving 2.0 per cent cash incentives without showing any documents. The amount of local cu...

China 'not stepping up' in trade talks, Trump says

Reuters November 21, 2019 10:42:31

US President Donald Trump said on Wednesday he has not made a trade deal with China yet because Beijing is not “stepping up” in negotiations. “I don’t think they’re step...

CPD warns of debt-servicing trouble

FE REPORT November 21, 2019 10:07:50

A think-tank on Wednesday warned that Bangladesh would face debt-servicing problem unless it proceeded with caution while securing foreign loans. "There are many countries who took loans without cons...

BD among top four countries in digital economy growth

BSS November 20, 2019 20:51:37

Bangladesh is one of the top four countries in terms of 'improvement and remarkable growth' in digital economy in the last four years, according to Huawei Global Connectivity Index (GCI) 2019. The in...

Fuel oil import to drop 24pc in H1, 2030

Test from developer November 20, 2019 17:45:00

State-owned Bangladesh Petroleum Corporation (BPC) will import around 1.06 million tonnes of refined fuel oil during a period from January to June (H1) in 2020. The purchase from open market through...

Kamal seeks more Turkish investment

-- November 20, 2019 12:37:38

Finance Minister AHM Mustafa Kamal has sought more Turkish investment in various sectors in Bangladesh. The Finance Minister called for the investment at the first day of the Bangladesh-Turkey Joint...

Rise in issuance of T-bonds, bills pushes up yield curves

JASIM UDDIN HAROON November 20, 2019 10:34:51

The increase in issuance of T-bonds and T-bills propelled their yield curves upward in last fiscal year (FY), 2018-19, according to the Bangladesh Bank (BB) statistics. Yield curve has direct relatio...

NBR gets Tk 3.57b tax on sixth day of fair

FE Report November 20, 2019 10:31:25

The National Board of Revenue (NBR) collected Tk 3.57 billion in tax on Tuesday, the sixth day of the countrywide Income Tax Fair (ITF) 2019, according to a statement. The revenue authority bagged...

BB cuts interest rates on EDF loans to boost exports

FE Report November 20, 2019 10:25:14

The central bank has slashed interest rates on loans under the Export Development Fund (EDF) scheme by 1.0 percentage point to facilitate exporters. As per the revised policy, exporters will now ge...

BB increases home loan limit to Tk 20m

-- November 19, 2019 19:35:37

The Bangladesh Bank has increased the maximum limit for home loans to Tk 20 million from Tk 12 million due to rising apartment prices and the purchasing capacity of people. The central bank on Tuesda...

BB slashes interest rate on exporters’ borrowing from EDF

-- November 19, 2019 18:04:40

The central bank has slashed the interest rate on loans from its Export Development Fund (EDF) by 1.0 percentage point to boost exports. From now, the EDF interest rate would be the six-month dollar...

FRB NY to give BB technical support

SIDDIQUE ISLAM November 19, 2019 10:39:53

The Federal Reserve Bank (FRB) of New York has expressed willingness to provide technical assistances to the Bangladesh Bank (BB) for mitigating its operational risks. A four-member delegation, led b...

NBR collects Tk 3.11b on fifth day of income tax fair

BSS November 18, 2019 19:52:22

The National Board of Revenue (NBR) has collected Taka 3.11 billion on Tuesday, the fifth day of the weeklong income tax fair. On the day, a total of 1,06,200 people submitted their income tax return...

China's civil aviation industry posts robust growth

Xinhua November 18, 2019 16:56:37

China's civil aviation sector reported steady expansion as well as continuous high safety standards in the first 10 months of this year, official data showed. The total transport turnover of the indu...

PM seeks larger UAE investment in Bangladesh

-- November 18, 2019 11:43:21

Prime Minister Sheikh Hasina on Sunday sought both public and private investment from the UAE in larger volume in potential sectors such as RMG, IT, agriculture and special economic zones in Banglades...

'Real-time' audit by CAG can help check fiscal anomalies

FE REPORT November 18, 2019 09:49:14

Collaboration among accountability organisations, including Comptroller and Auditor General (CAG), Anti-Corruption Commission (ACC), parliamentary committees and civil society organisations, can ensur...

Untimely rains delay India's rural economy recovery

-- November 17, 2019 11:11:40

Heavy rains in October and November have brought more misery to India’s farmers, after summer-sown crops such as soybean, cotton, rice and vegetables suffered rain and flood damage during the we...

US import, export prices decrease in Oct

-- November 16, 2019 15:37:14

US import and export prices decreased in October, the US Department of Labor has reported. The price index for US imports fell 0.5 per cent in October, after rising 0.1 per cent in September and decl...

Indian tax officials find Modi's targets too taxing, some quit

-- November 16, 2019 15:03:05

Prime Minister Narendra Modi’s government wants them to collect 17  per cent more in direct taxes this year as New Delhi seeks to shore up revenues amid a sharp economic slowdown. The targe...

Global debt to top record $255 trillion by year's end

-- November 16, 2019 13:27:47

Global debt is on course to end 2019 at a record high of more than $255 trillion, the Institute of International Finance estimated on Friday — nearly $32,500 for each of the 7.7 billion people o...

BB steps up forex support to banks

SIDDIQUE ISLAM November 16, 2019 09:57:00

The central bank has scaled up its foreign currency support to the commercial banks to help settle their import payment obligations, particularly for oil, officials said. The Bangladesh Bank, or BB,...

Sri Lanka Prosperity Index improves record high

-- November 15, 2019 15:39:22

Sri Lanka's Prosperity Index (PI) saw a 42 per cent rise from 2017 to 2018, local media reports quoting the Central Bank of Sri Lanka (CBSL) said on Friday. The country’s PI grew from 0.548 in...

Govt adopts new strategy to curb money laundering

REZAUL KARIM November 15, 2019 10:42:27

The government has adopted a new strategy to combat trade-based money laundering and illicit financial outflow from the country with the incorporation of a few stringent provisions into it, officials...

Kamal vows to cut tax rates using all matrixes

FE REPORT November 15, 2019 10:19:11

Finance Minister A H M Mustafa Kamal has promised to reduce tax rates using all economic matrixes. The government will assess as to what extent it can reduce the tax rates by keeping tax collection c...

Top 20 defaulters: BB asks state banks to ramp up recovery

SIDDIQUE ISLAM November 15, 2019 09:59:49

The central bank has asked four state-owned commercial banks, or SoCBs, to gear up the recovery drive, keeping in mind top 20 defaulters. The instruction was given at a meeting held at the Banglade...

China economy grinds lower as Oct indicators miss forecasts

-- November 14, 2019 12:23:56

China’s factory output growth slowed significantly more than expected in October, as weakness in global and domestic demand and the drawn-out Sino-US trade war weighed on broad segments of the w...