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Search results for: economy

Russia restricts export of key gases for production of chips

Russia restricts export of key gases for production of chips

-- 2022-06-03 15:59:51

Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday....

Food prices dip in May, cereal output set to decline, UN agency says

Food prices dip in May, cereal output set to decline, UN agency says

-- 2022-06-03 15:30:43

World food prices dipped in May for a second consecutive month after hitting a record high in March, although the cost of cereals and meat both rose, the United Nations' food agency said on Friday....

Australia's new PM backs wage hike to ease inflation pain

Australia's new PM backs wage hike to ease inflation pain

-- 2022-06-03 13:10:56

Australia's new centre-left Labor government on Friday proposed raising the minimum wage to ease the financial burden on families hit by soaring energy prices and a spike in consumer price inflation....

Malaysia reopens manpower market for Bangladesh

Malaysia reopens manpower market for Bangladesh

FE REPORT 2022-06-03 08:48:16

Malaysia reopens manpower market for Bangladesh after a four-year ban, paving the way for increasing overseas jobs and remittance, the government hopes. Minister for Expatriates' Welfare and Overseas...

Pay Tk 1.5m to families of each adulterated paracetamol victim: HC

Pay Tk 1.5m to families of each adulterated paracetamol victim: HC

-- 2022-06-02 21:16:32

The High Court has ordered the Directorate General of Drug Administration of DGDA to pay Tk 1.5 million to every family of the 104 children who died after consuming adulterated paracetamol syrup in tw...

Taka depreciated further by 90 paisa

Taka depreciated further by 90 paisa

SIDDIQUE ISLAM 2022-06-02 19:42:16

The local currency has further depreciated significantly against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations. The Bangladesh Taka (BDT) currenc...

BB allows taka exchange rate to float against dollar

BB allows taka exchange rate to float against dollar

-- 2022-06-02 16:32:26

Bangladesh Bank has decided to allow the exchange rate for the taka to float against the dollar in a major shift from the managed rate. This means the price of the dollar in the market will be dete...

Merchandise export fetches $47.17b in 11 months of FY '22

Merchandise export fetches $47.17b in 11 months of FY '22

FE ONLINE REPORT 2022-06-02 15:41:32

The country's merchandise export earnings maintained hefty growth during the first eleven months of the current fiscal year recording over 34 per cent rise year on year following the good performanc...

Farashuddin urges for reducing reliance on imports for self-sufficient economy

Farashuddin urges for reducing reliance on imports for self-sufficient economy

-- 2022-06-02 11:42:36

Former Bangladesh Bank governor Mohammed Farashuddin thinks the next national budget should focus on efforts to build a self-sufficient economy by reducing dependency on imports, bdnews24.com reports....

GDP growth may slow to 6.5pc

GDP growth may slow to 6.5pc

JASIM UDDIN HAROON 2022-06-02 08:48:02

Bangladesh's real GDP growth may slow to 6.5 per cent in the next fiscal year (FY 2022-23), says a global rating agency that attributes the slowdown to a slew of headwinds. In the process of rebound...

May inward remittances down by 6.24pc

May inward remittances down by 6.24pc

FE REPORT 2022-06-02 08:36:05

Volume of the country's inward remittances declined by around 6.24 per cent to US$1.88 billion in May of the current fiscal year over the previous month, official data revealed. Bangladeshis staying...

Govt approves purchasing 3.36m MMBtu LNG

Govt approves purchasing 3.36m MMBtu LNG

-- 2022-06-01 20:09:08

The Cabinet Committee on Government Purchase (CCGP) has approved a total of 17 proposals, including the import of 3.36 million MMBTus (British thermal units) of LNG to meet the growing demand. The ap...

Sri Lanka seeks $3.0b under IMF Extended Fund Facility

Sri Lanka seeks $3.0b under IMF Extended Fund Facility

-- 2022-06-01 19:34:21

Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender's extended fund facility (EEF), sources familiar with the matter told Reuters. The island...

Upcoming budget to focus on economic recovery, says finance minister

Upcoming budget to focus on economic recovery, says finance minister

-- 2022-06-01 19:11:02

Finance Minister AHM Mustafa Kamal has said the upcoming national budget for the fiscal year 2022-23 will focus on economic recovery from uncertainties due to the Covid-19 impact and the Russia-Ukrain...

Asia's factory activity slows in May as China Covid curbs weigh

Asia's factory activity slows in May as China Covid curbs weigh

REUTERS 2022-06-01 13:46:55

Asia's factory activity slowed in May as China's heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some countries in the region that are already s...

Leather sector can hit $12b in export earnings by 2030

Leather sector can hit $12b in export earnings by 2030

-- 2022-05-31 20:55:51

Speakers at a webinar on Tuesday stressed the need to work by integrating all concerned stakeholders to ensure compliance in the leather sector. They said the Ministry of Industries, Ministry of Envi...

Sri Lanka hikes tax rates, slashes taxpayers’ relief to boost revenue

Sri Lanka hikes tax rates, slashes taxpayers’ relief to boost revenue

-- 2022-05-31 19:02:16

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value-added taxes and corporate income tax, and slas...

China unveils detailed stimulus policies to support virus-hit economy

China unveils detailed stimulus policies to support virus-hit economy

-- 2022-05-31 13:57:07

China's cabinet unveiled a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive a pandemic-ravaged economy, saying it will inspect how provincial...

Indian home prices to accelerate again

Indian home prices to accelerate again

-- 2022-05-31 10:07:29

Indian house prices are set to accelerate this year to a pace not seen in half a decade, according to a Reuters poll of property analysts who also warned that higher interest rates will crimp affordab...

ADB stepped up support for Covid-19 response last year

ADB stepped up support for Covid-19 response last year

FE ONLINE DESK 2022-05-30 21:58:48

The Asian Development Bank’s private sector operations stepped up support for the region’s response to the Covid-19 last year, dedicating 78 per cent of $4.3 billion in the total project a...

Bangladesh plans adopting payment systems of Hong Kong, Singapore

Bangladesh plans adopting payment systems of Hong Kong, Singapore

-- 2022-05-30 20:10:35

Bangladesh is considering adopting new payment methods developed in Hong Kong and Singapore as an alternative to move away from the SWIFT system and save up dollars. The government has instructed the...

WB to disburse $700m to Sri Lanka

WB to disburse $700m to Sri Lanka

-- 2022-05-30 19:46:45

The World Bank will disburse approximately USD 700 million to Sri Lanka within the next few months, Sri Lanka's foreign minister announced on Monday. This pledge was made when the World Bank's Countr...

Bangladesh received $1.65b as remittances in 26 days of May

Bangladesh received $1.65b as remittances in 26 days of May

-- 2022-05-30 18:21:33

The ministry of finance is expecting the growth of inward remittance by 16 per cent in the fiscal year FY23. Bangladesh has, meanwhile, received inward remittance of US$1.65 billion in 26 days of May...

Private sector credit flow up to 12.48pc

Private sector credit flow up to 12.48pc

FE REPORT 2022-05-30 08:42:37

Private-sector credit flow increased further in April 2022 following rising demand for loans, particularly for trade financing, to settle import-payment obligations. The credit flow rose to 12.48 p...

Bangladesh Bank increases its key interest rate by 25 basis points to 5.0pc

Bangladesh Bank increases its key interest rate by 25 basis points to 5.0pc

-- 2022-05-29 21:40:27

The central bank has raised its key interest rate by 25 basis points to 5.0 per cent as part of its efforts to control consumer prices. The repo rate change, the first since July 2020, will be effect...

Bangladesh in strategic position to offer huge economic dividend to the region

Bangladesh in strategic position to offer huge economic dividend to the region

Mir Mostafizur Rahaman from Guwahati 2022-05-29 20:38:19

Highlighting the geographical position of Bangladesh in the Indo-Pacific region, international experts on Sunday said that the country is set to gain a huge economic dividend by becoming the manufactu...

Taka to depreciate by Tk 1.10 against US dollar

Taka to depreciate by Tk 1.10 against US dollar

SIDDIQUE ISLAM 2022-05-29 18:59:35

The exchange rate of the Bangladesh Taka (BDT) is going to depreciate largely against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations. The local cu...

How Bangladesh has surged past India on road to South Asian economic stardom

How Bangladesh has surged past India on road to South Asian economic stardom

Syed Munir Khasru 2022-05-29 17:26:12

Since 2009, Bangladesh has maintained macroeconomic stability through prudent fiscal and debt management, along with expansion of its social security net and investment in infrastructure projects.&n...

‘Digital platforms can enhance connectivity between people, budget-makers’

‘Digital platforms can enhance connectivity between people, budget-makers’

FE ONLINE REPORT  2022-05-29 16:38:32

By ensuring effective participation of the people in the making and implementation processes of the national budget, pro-people and inclusive development can be further accelerated, opined speakers an...

Sri Lanka to pay $72.6m for 90,000 tonnes Russian oil, minister says

Sri Lanka to pay $72.6m for 90,000 tonnes Russian oil, minister says

-- 2022-05-29 10:46:27

Sri Lanka will pay $72.6 million to buy a 90,000-tonne shipment of Russian oil docked at Colombo's port for weeks, its energy minister said on Saturday, as the island nation works to restart its only...