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Search results for: economy

Govt almost exhausts bank borrowing target in five months

SIDDIQUE ISLAM December 03, 2019 09:50:31

The government is set to make a net borrowing of more than Tk 45 billion from the country's banking system in December to partly meet its budget deficit, officials said. The government's gross borrow...

Remittance inflow increases by 31.75pc in November

-- December 02, 2019 19:12:18

Bangladesh received $1,555.22 million in remittance in November of the current fiscal, which is apparently 31.75 per cent higher than that of same month of previous year, according to Bangladesh Bank...

US online shoppers spend $68 billion in Nov

-- December 02, 2019 12:31:43

US online shoppers spent 68.1 billion US dollars in November, with 7.4 billion dollars on Black Friday (Nov. 29) alone, data from the web analytics tool Adobe Analytics showed. US online shoppers spe...

ADB elects new president

-- December 02, 2019 10:42:14

The Asian Development Bank (ADB) announced on Monday that its Board of Governors has "unanimously elected" Masatsugu Asakawa as ADB president. Asakawa, 61, currently special advisor to Japan's prime...

Economic slowdown in India to impact BD, fears Muhith

FE REPORT December 02, 2019 10:00:08

Former finance minister A M A Muhith has said Bangladesh's economic growth might be impacted by the slowing down of neighbouring India's economy. "To my mind, the ongoing sluggish trend of Indian eco...

Govt to form panel to ensure single digit interest rate

-- December 01, 2019 17:22:25

The government is set to form a panel with the task of bringing interest rates down to a single digit. Finance Minister AHM Mustafa Kamal gave the information after a meeting with leaders of the bank...

India plans to invest $1.39 trillion in infrastructure to spur economy

-- December 01, 2019 14:11:21

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on S...

50,000 workers may return home under Malaysia's B4G scheme

ARAFAT ARA December 01, 2019 10:20:26

About 50,000 Bangladeshi workers would have to return home from Malaysia by this month under 'Back 4 Good (B4G) scheme announced by Kula Lumpur, according to Bangladesh High Commission there. The Mal...

FinMin’s parley with banking bosses: Troubled loans to top agenda

REZAUL KARIM AND FHM HUMAYAN KABIR December 01, 2019 10:01:10

Finance minister will sit with chiefs of private and public sector banks to discuss the issues of non-performing loans and banking sector volatility, officials said. Officials said finance minister A...

China's growth forecast at 6.1pc for 2020

Xinhua November 30, 2019 16:25:17

The annual growth rate of China's economy is projected at 6.1 per cent, according to a report by the Bank of China (BOC). "The overall verdict is cautiously optimistic," the BOC Research Institute sa...

Russian c bank raises 2019 GDP growth forecast

-- November 30, 2019 11:34:04

The Central Bank of Russia said Friday it had increased its forecast for the country's gross domestic product (GDP) growth this year because of positive economic growth in the third quarter (Q3) and O...

Taka losing value vs dollar

SIDDIQUE ISLAM November 30, 2019 10:10:25

The local currency has depreciated by Tk 1.0 against the US dollar so far this year in the inter-bank foreign exchange market as demand for the greenback grew. The dollar was quoted at Tk 84.90 eac...

Dhaka to seek $3.0b Chinese aid

FHM HUMAYAN KABIR November 30, 2019 10:06:03

Bangladesh will seek US$3.0 billion in aid from China for the next three years in the upcoming joint working group meeting to be held on Monday, officials said. It will also seek relaxation of term...

Japan's factory output slips in October

-- November 29, 2019 11:58:10

Japan’s industrial output slipped at the fastest pace since early last year in October, exposing widening cracks in the economy which faces a decline in domestic and foreign demand. Factory out...

UK consumer confidence stuck at six-year low

-- November 29, 2019 11:50:44

British consumer confidence remained stuck at its joint-lowest level since 2013 in November as uncertainty around the Dec. 12 election and Brexit weighed on households, a survey showed on Friday. Mar...

Bangladesh can 'attract $20b from CACCI nations' investors'

FE Report November 29, 2019 10:40:05

Bangladesh may be able to attract new investments worth over US$ 20 billion in different sectors of the country. The member countries of the Confederation of Asia-Pacific Chambers of Commerce and Ind...

0.1m businesses take new BINs

FE Report November 29, 2019 10:34:21

About 0.1 million businesses have taken 13-digit Business Identification Numbers (BINs) until Thursday through obtaining fresh one or updating their existing VAT registration number. The deadline for...

Third-party evaluation can cure ill cos: Analysts

FE REPORT November 29, 2019 10:27:33

Analysts on Thursday laid emphasis on strict evaluation of the financial reports of the companies by a third-party to shield the financial market from vulnerabilities. They suggested the government...

Provisions shortfall soars in nine months

Siddique Islam November 29, 2019 10:15:16

The provisions shortfall against classified loans in the country's banking system swelled by nearly 23 per cent or Tk 15.15 billion during the first nine months of the calendar year. The total shortf...

Export diversification: New sectors missing out on bank credit

FE Report November 28, 2019 10:33:53

Banking experts have underscored the need for better credit risk management and good corporate governance to reduce the volume of non-performing loans (NPLs) in banks and other financial institutions....

Finance minister rules out trade war fallout

FE REPORT November 28, 2019 10:33:03

Finance minister AHM Mustafa Kamal said on Wednesday Bangladesh's economy would not face any shock from the ongoing global trade war due to its strong base. The minister said due to the ongoing tra...

Volume of NPL up 24pc in Q3

SIDDIQUE ISLAM November 28, 2019 09:55:05

The volume of classified loans in the country's banking sector rose further to hit an all-time high at Tk 1.16 trillion (1.16 lakh crore) at the end of the third quarter of current calendar year despi...

Finance minister eyes 25pc growth in remittance inflow in FY20

-- November 27, 2019 18:40:25

Finance Minister AHM Mustafa Kamal on Wednesday said remittance inflow is likely to increase by at least 25 per cent in the fiscal 2019-20 (FY20) due to a number of government steps. “Remittanc...

Fed official expects US GDP growth to "be weak" in Q4

-- November 27, 2019 13:34:18

A senior Federal Reserve official said Tuesday that he expected US economic growth to "be weak" in the fourth quarter of the year as businesses cut inventories due to trade uncertainty. "One of the r...

Myanmar earns over $2.28b from export in FY 2019-20

-- November 27, 2019 13:11:48

Myanmar earned over $2.28 billion from export to foreign countries as of Nov. 15 in fiscal year (FY) 2019-2020 which started in October, according to figures from the Commerce Ministry on Wednesday....

BIDA chief woos more investments from UK

FE Online Desk November 27, 2019 11:14:39

BIDA Executive Chairman Md. Sirazul Islam has urged more investments from UK, one of the biggest contributors of FDI to Bangladesh. He was attending a breakfast meeting co-hosted by the British Busin...

NBR to receive tax returns until Dec 01

FE Report November 27, 2019 10:55:37

The National Board of Revenue (NBR) will accept income tax return for the tax year 2019-20 from individual taxpayers until December 1 (Sunday). The deadline (November 30) has been extended, as it f...

Govt mulls AMC to cut NPLs

FE Report November 27, 2019 10:07:29

The government is actively considering formation of an asset management company (AMC) to resolve a rise in non-performing loans (NPLs) in banks and financial institutions. Financial institutions divi...

Bangladesh willing to join US led Indo-Pacific initiative

FE Online Report November 26, 2019 18:48:56

Bangladesh will join the US led Indo-Pacific initiative if it becomes an economic alliance, Foreign Minister Dr AK Abdul Momen said on Tuesday. Bangladesh feels that mega regional arrangements like t...

Annual Banking Confce begins Wednesday

FE Online Desk November 26, 2019 13:40:04

A two-day Annual Banking Conference organized by Bangladesh Institute of Bank Management (BIBM) begins at BIBM from Wednesday. The BIBM Governing Body Chairman and Bangladesh Bank Governor Fazle Kabi...