Loading...
The Financial Express

Search results for: economy

Bangladesh won't give duty concession on third country invoicing

Bangladesh won't give duty concession on third country invoicing

DOULOT AKTER MALA 2021-08-24 08:37:12

Bangladesh will not allow concessionary duty benefit under the South Asian Free Trade Area (SAFTA) treaty in case of documentation completed in a non-member SAARC country. Officials said the restrict...

Bangladeshi Taka loses value against US dollar

Bangladeshi Taka loses value against US dollar

SIDDIQUE ISLAM 2021-08-24 08:23:26

The exchange rate of Bangladesh currency depreciated significantly against the US dollar in the last couple of days mainly as higher demand for the greenback for settling import-payment obligations...

Bangladesh Bank approves two more refinancing schemes

Bangladesh Bank approves two more refinancing schemes

FE REPORT 2021-08-24 08:17:21

Two refinancing schemes worth Tk 35 billion are being launched to help out Covid-hit agriculture and tourism sectors under government stimulus packages, officials said. Two proposals to this effect w...

$650b reserves distribution is 'shot in arm' for global economy, says IMF

$650b reserves distribution is 'shot in arm' for global economy, says IMF

-- 2021-08-23 20:43:58

The IMF will distribute about $650 billion in new Special Drawing Rights to its members on Monday, providing a "significant shot in the arm" for global efforts to combat the COVID-19 pandemic, Managin...

BB, BIDA run parallel to guide equity investment abroad

BB, BIDA run parallel to guide equity investment abroad

SYFUL ISLAM 2021-08-23 08:23:31

Two regulatory bodies run parallel preparing separate guidelines on equity investment abroad by Bangladeshi businesses, raising concern about possible clash of authority, sources said. Both the Bangl...

3.0m marginalised people taking services from agent banking outlets

3.0m marginalised people taking services from agent banking outlets

-- 2021-08-22 19:02:51

Agent banking has gained popularity among the people in remote areas of the country and, as of July this year, around 3 million marginalised people are taking banking services from the agent outlets....

FBCCI for widening scope of outward FDI

FBCCI for widening scope of outward FDI

FE ONLINE REPORT 2021-08-22 08:19:16

The country’s apex trade body has suggested that the government should extend the scope of investment abroad by Bangladeshi-origin firms and companies. In this connection, Federation of Banglad...

Taliban takeover pushes Afghanistan's economy closer to the brink

Taliban takeover pushes Afghanistan's economy closer to the brink

-- 2021-08-21 18:41:47

The Taliban sweeping to power in Afghanistan has thrust one of the world's poorest countries back into the limelight. The following charts depict Afghanistan's current economic situation: GLUM GROWT...

Bangladesh, Australia going to strike TIFA deal

Bangladesh, Australia going to strike TIFA deal

SYFUL ISLAM 2021-08-20 09:41:44

Bangladesh and Australia are set to sign Trade and Investment Framework Agreement (TIFA) aimed at bolstering bilateral trade by way of removing barriers and tapping potential, officials said. Both th...

Bangladeshi depositors get higher returns than they should, says Kamal

Bangladeshi depositors get higher returns than they should, says Kamal

FE REPORT 2021-08-20 08:30:51

Finance Minister AHM Mustafa Kamal claimed Thursday Bangladeshi depositors get higher returns than they should as compared to the gains in other countries, thus deflating a different view. "In other...

Banks see surge in non-performing loans despite policy backup

Banks see surge in non-performing loans despite policy backup

SIDDIQUE ISLAM 2021-08-20 08:07:01

Classified loans in the banking sector went ballooning in the first half (H1) of the current calendar year despite policy perks coming from the central bank to stem the rot. The volume of non-perform...

Global merchandise trade recovering strongly, says WTO

Global merchandise trade recovering strongly, says WTO

FE Online Report 2021-08-19 15:46:00

Global merchandise trade continues its robust recovery from the shock of the Covid-19 pandemic, according to the latest reading of the World Trade Organization (WTO)’s Goods Trade Barometer. &l...

Authorities find ways to pay 75pc of foreigners' salaries in home countries

Authorities find ways to pay 75pc of foreigners' salaries in home countries

DOULOT AKTER MALA 2021-08-19 09:57:26

The authorities concerned met virtually on Wednesday, devising ways for the foreign nationals working in the mega projects here so that they can receive 75 per cent of the pay and perks in their hom...

BB asks banks to submit PIF statements quarterly

BB asks banks to submit PIF statements quarterly

FE Online Report 2021-08-18 20:47:58

The central bank of Bangladesh has instructed all the scheduled banks to submit their post import financing (PIF) statement to its Department of Off-Site Supervision (DOS) every quarter, officials sai...

Central bank asks non-banking financial institutions to lend rightly

Central bank asks non-banking financial institutions to lend rightly

SIDDIQUE ISLAM 2021-08-18 08:43:08

The central bank has instructed non-banking financial institutions (NBFIs) to ensure loan or lease financing appropriately for improving corporate governance in the financial sector, as some aberrat...

Govt to borrow Tk 73 billion in rest of the month

Govt to borrow Tk 73 billion in rest of the month

FE Online Report 2021-08-17 13:24:38

To meet the recurrent spending, the government wants to borrow some Tk 73 billion through treasury bills and bonds during the rest of the ongoing August. As a part to borrow the money from the financ...

IFC pledges $3.8b to offset pandemic effects in South Asia, drive recovery

IFC pledges $3.8b to offset pandemic effects in South Asia, drive recovery

FE Online Report 2021-08-17 12:55:01

The International Finance Corporation has renewed focus on sustained investments in South Asia in a bid to protect the most vulnerable people and help companies maintain operations and jobs, says the...

No bid on BB bills accepted

No bid on BB bills accepted

SIDDIQUE ISLAM 2021-08-17 09:01:16

The central bank did not accept any bid from the auction of its two-type Bangladesh Bank (BB) bills on Monday as bidders quoted higher yields on the instruments, officials said. "No bid was accepted...

India will soon unveil $1.35tn infrastructure plan: Modi

India will soon unveil $1.35tn infrastructure plan: Modi

REUTERS 2021-08-16 11:05:59

India will launch a 100 trillion rupee ($1.35 trillion) national infrastructure plan that will help generate jobs and expand use of cleaner fuels to achieve the country's climate goals, Prime Minister...

Microfinance institutions falling into non-performing loan trap

Microfinance institutions falling into non-performing loan trap

Siddique Islam 2021-08-16 08:42:02

The amount of classified loans in the micro-finance institutions (MFIs) jumped by 25 per cent in fiscal year (FY) 2019-20 mainly due to the Covid-19 pandemic, officials said. The non-performing loa...

Taliban's gains give investors cause for concern

Taliban's gains give investors cause for concern

-- 2021-08-15 10:36:51

The Taliban's rapid advance towards Kabul is not only causing concern about Afghanistan's future but also about the impact on other countries in the region and their economies. Iran and then Iraq lie...

Bangladesh's revenue receipts increase 21pc

Bangladesh's revenue receipts increase 21pc

DOULOT AKTER MALA 2021-08-15 08:32:09

The tax revenue collection recorded an impressive 21 per cent growth in the fiscal year (FY) 2020-21 over that of the previous FY. Greater mobilisation of corporate and withholding tax made the fea...

Govt giving importance to local, foreign investment for post-pandemic recovery

Govt giving importance to local, foreign investment for post-pandemic recovery

UNB 2021-08-14 18:52:24

With the pandemic hitting the economy hard as an external shock, the government gives immense importance to investments, both local and foreign ones, for ensuring balanced development and improving th...

Bangladeshi banks may face asset quality challenge in post-Covid situation

Bangladeshi banks may face asset quality challenge in post-Covid situation

-- 2021-08-13 09:19:16

Maintaining the existing asset quality, now largely helped by generous government support regimes, may emerge as a key challenge in post-pandemic situation for Bangladesh's banking sector. Such progn...

Finance minister Kamal upbeat on high remittance inflow

Finance minister Kamal upbeat on high remittance inflow

FE REPORT 2021-08-12 09:54:03

Finance Minister AHM Mustafa Kamal expressed doubt over the patriotism of people who talks otherwise about higher remittance inflow and its continuation. "I am in doubt whether those, who oppose it...

Savings tools information under taxmen's watch

Savings tools information under taxmen's watch

DOULOT AKTER MALA 2021-08-12 08:29:27

All investors in government savings certificates are coming under scrutiny by taxmen to check any information holdback on their actual wealth. The tax authority has already got down to doing the rech...

Central bank dispels bankers' worry, sticks to gun

Central bank dispels bankers' worry, sticks to gun

Siddique Islam 2021-08-12 08:24:03

Scuttling all concerns of top bankers, the central bank said it wouldn't budge from its instructions on fixing the interest rates on fixed deposits commensurate with inflation so to protect depositors...

Bankers balk at minimum deposit interest rate

Bankers balk at minimum deposit interest rate

SIDDIQUE ISLAM 2021-08-11 08:26:35

A portion of fixed deposits rather than the entire amount in Bangladesh's banking sector is set to come under 'floor', or minimum interest rating, imposed by the central bank recently to protect dep...

Inflation slightly falls in July amid pandemic

Inflation slightly falls in July amid pandemic

-- 2021-08-10 18:42:17

The inflation rate slightly declined by 0.28 per cent on a point-point basis as it came down at 5.36 percentage point in July 2021. “The general point-to-point inflation rate came down to 5.36...

Central bank restarts withdrawing excess money

Central bank restarts withdrawing excess money

SIDDIQUE ISLAM 2021-08-10 09:10:49

A splurge of money from stimulus packages and private-investment stalemate prompted the central bank to restart mopping up excess liquidity from the market, as a measure of taming inflation. As the m...