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The Financial Express

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Unilever to rebrand ‘Fair & Lovely’; new brand name to be announced after approval

Unilever to rebrand ‘Fair & Lovely’; new brand name to be announced after approval

FE Online Desk 2020-06-25 16:40:21

Unilever Bangladesh Limited (UBL) announced on Thursday the next step in the evolution of its skin care portfolio, with the rebranding of its flagship brand Fair & Lovely. Taking forward the brand...

Canada's natural resources real GDP declines in first quarter

Canada's natural resources real GDP declines in first quarter

-- 2020-06-25 13:51:04

Real gross domestic product (GDP) of Canada's natural resources sector was down 0.4 per cent in the first quarter of 2020, the third consecutive quarterly decline, Statistics Canada said Wednesday. T...

13pc people lost jobs due to Covid-19 pandemic: Survey

13pc people lost jobs due to Covid-19 pandemic: Survey

UNB 2020-06-25 11:48:15

About 13 per cent people have become unemployed in the country due to Covid-19 pandemic, according to a survey of Bangladesh Institute of Development Studies (BIDS). The survey titled “Coping w...

South Africa's debt grows into hippo 'eating our children's inheritance'

South Africa's debt grows into hippo 'eating our children's inheritance'

REUTERS 2020-06-25 10:52:49

South Africa’s budget deficit will be the highest in the post-apartheid era, and the finance minister warned in his emergency budget speech on Wednesday that debt had become a hippo eating their...

India to invest $121.27m more for Shwe oil and gas project in Myanmar

India to invest $121.27m more for Shwe oil and gas project in Myanmar

-- 2020-06-25 10:08:16

The Indian government has approved a proposal for an additional 121.27 million US dollar investment to be made by ONGC Videsh Ltd (OVL) in the development of an oil and gas project in Myanmar. The de...

Safety net outlay goes up substantially for FY '21

Safety net outlay goes up substantially for FY '21

FE REPORT 2020-06-25 09:32:10

The government has substantially increased the allocation on the social safety net programmes mainly due to supporting the coronavirus affected people. It allocated Tk. 955.74 billion or nearly 17 pe...

ADB retains top position in aid transparency index

ADB retains top position in aid transparency index

-- 2020-06-24 22:59:59

The Asian Development Bank (ADB) retained its first place ranking in the 2020 Aid Transparency Index (ATI), an independent measurement of aid transparency released on Wednesday at the Brookings Instit...

Global economy could shrink 4.9pc this year: IMF

Global economy could shrink 4.9pc this year: IMF

FE ONLINE DESK 2020-06-24 21:08:41

The International Monetary Fund has projected that global economy could shrink 4.9 per cent in 2020 due to COVID-19 pandemic, 1.9 percentage points below than its previous forecast. IMF’s World...

Putin proposes differentiated income tax rate

Putin proposes differentiated income tax rate

-- 2020-06-24 14:25:34

Russian President Vladimir Putin has proposed canceling the current flat income tax rate and introducing differentiated tax for richer people with the proceeds to be channeled for the treatment of chi...

Forex reserve crosses $35 billion mark for first time

Forex reserve crosses $35 billion mark for first time

FE ONLINE REPORT 2020-06-24 13:42:54

Bangladesh’s foreign exchange (forex) reserve on Wednesday crossed the US$35 billion-mark -- for the first time in its history, following lower import payment obligations and steady growth of in...

BD gets $500m WB loan to improve road connectivity

BD gets $500m WB loan to improve road connectivity

FE ONLINE REPORT 2020-06-24 12:48:24

The World Bank (WB) has approved 500 million US dollar to help Bangladesh improve road connectivity along the Jashore-Jhenaidah corridor covering four western districts. “The western region of...

Tax raise on damages for acquired land likely

Tax raise on damages for acquired land likely

FE REPORT 2020-06-24 10:32:31

Income tax on the compensation amount of immovable properties acquired by the government is likely to be tripled in the upcoming fiscal year. In the proposed Finance Bill-2020, the rate of Advance In...

NBR's tax receipt move on the skids

NBR's tax receipt move on the skids

Doulot Akter Mala 2020-06-24 09:21:30

The government's revenue collection in the current fiscal year is likely to contract for the first time since the country's independence in 1971. The slump in tax collection as the fallout of the cor...

Huawei connects China medical expert team with Bangladesh

Huawei connects China medical expert team with Bangladesh

FE Online Desk 2020-06-23 17:49:22

A total of 12 video conference sessions have been conducted among Chinese medical expert team and departments of Bangladesh government, its medical institutions, designated hospitals and relevant Unit...

Asia Pacific consumers shift rapidly to digital commerce and show no signs of turning back

Asia Pacific consumers shift rapidly to digital commerce and show no signs of turning back

FE Online Desk 2020-06-23 16:47:45

  Consumers in Asia Pacific are rapidly going digital with purchases of everything from groceries to movies in a shift that looks set to become a permanent habit after the pandemic passes, Maste...

US economy to grow more slowly than hoped: Fed official

US economy to grow more slowly than hoped: Fed official

-- 2020-06-23 14:30:12

The US economy is expected to grow more slowly than people had hoped months ago as the country cannot stop the community spread of Covid-19, a senior US Federal Reserve official said on Monday. "Some...

Budget allocation for health not sufficient in view of Covid crisis: CBP

Budget allocation for health not sufficient in view of Covid crisis: CBP

FE ONLINE DESK 2020-06-23 11:51:08

Budgetary allocations for health, agriculture, social protection and education have not been sufficient and visionary in view of the Covid-19 crisis, the Centre on Budget and Policy (CBP), University...

BB relaxes rules to assist exporters

BB relaxes rules to assist exporters

FE Report 2020-06-23 09:55:12

The central bank has relaxed regulations, allowing banks to discount usance export bills in foreign exchange with their own source of funds, to facilitate exporters. Under the relaxations, the author...

NBR sets sight on addl Tk 20b from furnace oil import

NBR sets sight on addl Tk 20b from furnace oil import

Doulot Akter Mala 2020-06-23 09:43:14

The National Board of Revenue's (NBR) Customs Wing is eyeing an additional Tk 20 billion import duty with the withdrawal of fiscal incentives on furnace oil import. In the Finance Bill 2020, the fina...

Admin reform holds the key to tapping MNCs' China exodus

Admin reform holds the key to tapping MNCs' China exodus

MIR MOSTAFIZUR RAHAMAN 2020-06-23 09:33:36

Bangladesh needs massive administrative reforms and provisions for increased incentives to leverage the shifting global supply chain, which is likely to move out of China. Since many top multinationa...

74pc migrant workers failed to bring back remittance: Study

74pc migrant workers failed to bring back remittance: Study

FE ONLINE REPORT 2020-06-22 20:40:42

Some 74 per cent of returnee migrant workers failed to bring back remittances from their job destination countries, according to a study. The study, conducted by Refugee and Migratory Movements Resea...

Tourism contributes 12.7pc to Philippine GDP in 2019

Tourism contributes 12.7pc to Philippine GDP in 2019

-- 2020-06-22 16:07:15

The contribution of the tourism industry to the Philippine economy increased to 12.7 per cent in 2019 from 12.3 per cent in 2018, the country's Tourism Secretary Bernadette Romulo-Puyat said on Mond...

Covid-19 poses most uncertain health and economic threat: ICCB

Covid-19 poses most uncertain health and economic threat: ICCB

FE Online Desk 2020-06-21 15:04:22

The world is facing a severe and acute public health emergency and economic threat due to the Covid-19 pandemic, which originated in Wuhan Province of China in last December. The World Health Organiza...

RMG makers may see fall in export earnings: WTO

RMG makers may see fall in export earnings: WTO

MONIRA MUNNI 2020-06-21 09:26:30

Textile and clothing manufacturers of least-developed countries (LDCs), including Bangladesh, are likely to face a significant fall in export earnings in 2020. The World Trade Organisation (WTO), i...

‘Reform’ key to bankrolling budget

‘Reform’ key to bankrolling budget

FE REPORT 2020-06-21 09:22:58

Carrying out necessary reform in the financial sector and addressing health crisis are crucial to financing the budget while preventing economic growth from tumbling, economists say. They also put em...

IMF likely to deploy emergency financing for 70 countries

IMF likely to deploy emergency financing for 70 countries

-- 2020-06-20 16:16:29

The International Monetary Fund (IMF) has said it is expected to deploy emergency financing for 70 countries by Friday as the Covid-19 pandemic continues to ripple across the globe. IMF spokesperson...

US unemployment rate to remain in double digits by end of year

US unemployment rate to remain in double digits by end of year

-- 2020-06-20 14:16:22

The US unemployment rate will remain in double digits by the end of this year as efforts to contain Covid-19 so far have not been particularly successful in the country, a senior US Federal Reserve...

World Bank approves over $1b for Bangladesh

World Bank approves over $1b for Bangladesh

-- 2020-06-20 12:14:37

The World Bank has approved $1.05 billion for three projects to help Bangladesh create quality jobs and accelerate economic recovery from the Covid-19 pandemic as well as build resilience to future cr...

Recapitalising SoCBs not good move: Economist

Recapitalising SoCBs not good move: Economist

JASIM UDDIN HAROON 2020-06-20 09:24:26

The government has allocated a significant amount of fund in the proposed budget for fiscal year (FY) 2020-21 to recapitalise the state-owned banks at a time when budget financing remains a big challe...

Motorbike makers for conducive policy support

Motorbike makers for conducive policy support

FE Online Desk 2020-06-19 13:35:34

Motorcycle Manufacturers and Exporters Association of Bangladesh (MMEAB) reiterated its demand to the government to continue its supportive policies for the development of the industry and its backwar...