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Search results for: economy

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...

Ukraine war: 11m to 19m may face hunger due to reduced commodity exports

Ukraine war: 11m to 19m may face hunger due to reduced commodity exports

-- 2022-06-10 19:22:43

Reduced exports of wheat and other food commodities from Ukraine and Russia risk leaving between 11 million and 19 million more people with chronic hunger over the next year, the United Nations' food...

Russia slashes key interest rate to pre-crisis level of 9.5pc

Russia slashes key interest rate to pre-crisis level of 9.5pc

-- 2022-06-10 18:20:34

Russia's central bank has slashed its key interest rate to 11 per cent and said it saw room for more cuts this year, as inflation slows from more than 20-year highs and the economy heads towards a con...

‘Bangladesh conducts feasibility studies on 23 countries for inking trade deals’

‘Bangladesh conducts feasibility studies on 23 countries for inking trade deals’

-- 2022-06-10 18:07:01

Foreign Minister AK Abdul Momen has said Dhaka has already conducted feasibility studies on 23 countries for inking different kinds of economic deals while the country is opening up new markets to rea...

Bangladesh eyes JICA's support for economic development

Bangladesh eyes JICA's support for economic development

-- 2022-06-10 17:59:16

While looking back on the cooperation with JICA so far, speakers at a seminar in Tokyo on Friday explored ways to further strengthen the partnership with Bangladesh in the future. They said reaching...

Budget falls short in addressing inflationary issues adequately: CPD

Budget falls short in addressing inflationary issues adequately: CPD

-- 2022-06-10 16:54:45

The Centre for Policy Dialogue (CPD) says the proposed budget for fiscal 2022-23 falls short of the mark in terms of addressing the inflationary issues facing the country and assuring citizens of keep...

Budget to make economy stronger, says Kamal

Budget to make economy stronger, says Kamal

-- 2022-06-10 16:42:21

Finance Minister AHM Mustafa Kamal on Friday hoped that the implementation of the proposed national budget for FY2022-2023 would make the economy stronger and more vibrant. “Hopefully our econo...

Targeting 5.6pc inflation quite ambitious: SANEM

Targeting 5.6pc inflation quite ambitious: SANEM

FE REPORT 2022-06-10 08:36:24

Due to the current context and shifting of global economic factors, the target of limiting average inflation to 5.6 per cent in the next fiscal is quite ambitious, said the South Asian Network on Ec...

Govt to borrow Tk 2.41tn to meet budget deficit

Govt to borrow Tk 2.41tn to meet budget deficit

FE REPORT 2022-06-10 08:27:41

Government borrowing from both foreign and domestic sources is set to increase by more than 20 per cent in the next fiscal year to meet the budget deficit. According to the proposed budget, it's ex...

Chamber leaders hail budget, make their points

Chamber leaders hail budget, make their points

FE REPORT 2022-06-10 08:27:25

Different chamber leaders hailed the budget for the new fiscal year and also came up with their own suggestions in their instant reactions. Hailing the proposed budget for the fiscal year 2022-23,...

'Inflation-control tools not enough'

'Inflation-control tools not enough'

FE REPORT 2022-06-10 08:25:29

Economists expressed mixed reaction over the proposed budget as those who talked to the FE were critical of government measures meant to tame inflationary pressures on public life in particular. Dr...