Search results for: economy

Economic crisis caused by COVID-19 "most synchronised" in history, says economist

Xinhua 2020-08-23 16:29:31

The economic crisis caused by the novel coronavirus pandemic is the "most synchronized" in history and its prospects of recovery is quite uncertain, Colombian economist Jose Antonio Ocampo said on Sat...

Better business environ needed to attract FDI

FE REPORT 2020-08-23 09:58:49

Disparity between local and foreign investors, a lack of improved business environment and corruption, among others, are key barriers to attracting foreign direct investment (FDI). Speakers, stretchi...

NBR decides to conduct internal survey this yr

DOULOT AKTER MALA 2020-08-23 09:43:22

The National Board of Revenue (NBR) has decided to conduct this year internal survey involving different government agencies to net in new taxpayers, instead of the door-to-door survey carried out ear...

Financial sector clocks lower growth in FY'20

FHM HUMAYAN KABIR 2020-08-23 09:33:51

All the financial sub-sectors recorded decline in their growth rates in the immediate past fiscal year (FY 2019-20). The sub-sector (monetary intermediation) had the worst time in many years. Overall...

China's garment industry sees lower revenues in H1

-- 2020-08-22 14:06:55

China's garment industry registered shrinking revenues and profits in the first half of the year, but the decline was narrower, data from the Ministry of Industry and Information Technology (MIIT) sho...

Nominal wage growth continues to decline

FE Online Report 2020-08-22 13:45:51

Country’s combined nominal wage rate of agriculture, industry and services in the last fiscal year (FY20) increased by the slowest pace in the last five years. Wage Rate Index (WRI), released b...

BB backs Basic Bank's stance

SYFUL ISLAM 2020-08-22 10:13:15

Bangladesh Bank (BB) has endorsed a stance of Basic Bank not to reschedule the loans, taken through fraudulent acts, by paying 2.0 per cent down payment, officials said. "The board of directors of...

Pandemic wreaks havoc on jobs, pay

Monira Munni and Saif Uddin 2020-08-22 10:02:04

Hundreds and thousands have lost their jobs while many others faced wage cuts due to the adverse impact of Covid-19 pandemic on all sorts of economic activities, according to available information. R...

Kamal urges banks to embrace digital tech

FE REPORT 2020-08-21 09:49:31

Finance minister AHM Mustafa Kamal has exhorted both public and private banks to use digital financial inclusion to take services to customers' doorsteps through an easy and safer mode. "I'm hopeful...

TF formed to fight fake audit reports

FE REPORT 2020-08-21 09:44:39

The Central Intelligence Cell (CIC) has set up a task force (TF) to curb submission of fake audit reports by corporate taxpayers to taxmen. The team of intelligence officials will also ensure submiss...

Banks' excess liquidity hits record Tk 1.40t

SIDDIQUE ISLAM 2020-08-21 09:30:09

Banks' excess liquidity hit the all-time high of around Tk 1.40 trillion in June, fuelled by the government's higher borrowing from the country's banking system to partly meet its budget deficit. L...

South Korea's foreign debt grows to $503.1b in Q2

-- 2020-08-20 16:22:13

South Korea's foreign debt grew in the second quarter (Q2) as foreigners bought local state bonds, the finance ministry said Thursday. The country's foreign debt amounted to 503.1 billion US dollars...

Bangladesh receives record foreign loans in pandemic

-- 2020-08-20 14:34:28

The government received a record 1.98 billion US dollar in loans from donor countries and agencies in June amid the coronavirus (COvid-19) pandemic. The previous highest total foreign loans in a mont...

India faces protracted slowdown as virus clouds rural revival

REUTERS 2020-08-20 13:29:42

India is staring at a protracted slowdown as coronavirus cases reach its countryside, with signs of recovery in the rural economy hailed by Prime Minister Narendra Modi “at best a mitigating fac...

Large companies foresee poor sale, tax payment

Doulot Akter Mala 2020-08-20 09:41:23

Most of the large taxpayers are apprehending a sharp slide or poor growth in their sale and probable payment of consumption tax in the current fiscal year (FY), 2020-21. They have apprised the Large...

Taiwan aims to become Asian financial hub

-- 2020-08-19 13:32:01

Taiwan will further liberalise its economy and offer more financing products, aiming to become an Asian financial and asset management hub, President Tsai Ing-wen said on Wednesday, pitching the islan...

Savings certificates sales rise in pandemic

-- 2020-08-19 10:21:54

When people are struggling to earn enough to pay for basic needs like food and housing due to the coronavirus pandemic, sales of savings certificates have gone up in Bangladesh. Researchers have call...

ADB approves $50m to bankroll PPP infrastructure projects

FE Online Report 2020-08-18 18:14:24

The Asian Development Bank (ADB) on Tuesday approved US$50 million loan to Bangladesh for bankrolling some public-private partnership (PPP) infrastructure projects. The ADB financing will help implem...

Pandemic creates a situation of hidden hunger in Bangladesh

FE ONLINE DESK 2020-08-18 15:23:54

The coronavirus pandemic has created a situation of hidden hunger in Bangladesh, which can be detrimental to the physical and mental development of infants and children, according to a study report....

Malaysia's inflation declines 1.3pc in July

-- 2020-08-18 14:35:52

Malaysia's inflation, measured by consumer price index (CPI), declined 1.3 per cent year-on-year in July, official data showed Tuesday. The Malaysian Statistics Department said in a statement that th...

Egypt's unemployment rate up to 9.6pc in Q2

-- 2020-08-18 12:06:09

Egypt's unemployment rate rose to 9.6 per cent in the second quarter of 2020 from 7.7 per cent in the previous quarter of the year due to the coronavirus outbreak, the state-run statistics agency has...

Forex reserves cross $38b for first time

-- 2020-08-18 09:55:45

Bangladesh’s foreign exchange reserves have crossed US$38 billion mark for the first time amid the coronavirus pandemic. The central bank's foreign reserves reached the milestone on Monday than...

Service-sector export earnings drop 5.56pc

FE REPORT 2020-08-18 09:30:50

Bangladesh's export earnings from the service sector stood at US$6.13 billion registering a 5.56 per cent negative growth in the just-concluded fiscal year 2019-20, the official data showed. The coun...

Govt lobbying hard for WB budget aid

FHM HUMAYAN KABIR 2020-08-18 09:20:51

The government is trying to receive $250 million budget support the World Bank pledged to offer, helping the country lower its fiscal deficit in the current financial year, officials said on Monday....

‘CPD actually acts on assumption, BBS deals with data’

-- 2020-08-17 20:41:10

Dismissing recent statement of Centre for Policy Dialogue (CPD) on the country’s GDP growth, Finance Minister AHM Mustafa Kamal on Monday said the CPD acts on assumptions, whereas the Bangladesh...

US overtakes UAE as second biggest remittance hotspot for Bangladeshis

-- 2020-08-17 20:09:48

Bangladesh has seen an increase in the remittance sent from the United States, the biggest economy in the world, along with an upward trend in investment in NRB savings bonds. Bangladeshi expatriates...

Thailand suffers biggest economic slump since 1998

REUTERS 2020-08-17 15:36:39

Thailand’s economy suffered its biggest annual contraction since the Asian financial crisis in the second quarter due to the fallout of the coronavirus, prompting the government to slash its GDP...

Singapore's non-oil domestic exports grows by 6pc on year in July

-- 2020-08-17 12:36:43

Singapore's non-oil domestic exports (NODX) grew by 6.0 per cent year on year in July, after the revised 13.9 per cent increase in the previous month, Enterprise Singapore, a government agency, announ...

Exports to China drop more than India in FY20

FE Online Report 2020-08-17 10:23:29

The country’s receipt from exports in goods to China dropped heavily in the last fiscal year (FY20) compared to the decline in exports to India during the same period. Statistics compiled by Ex...

Japan's economy shrinks at record pace as pandemic wipes out 'Abenomics' gains

REUTERS 2020-08-17 09:59:55

Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policymakers under pressure for bolder action to...