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Search results for: economy

Untimely rains delay India's rural economy recovery

-- November 17, 2019 11:11:40

Heavy rains in October and November have brought more misery to India’s farmers, after summer-sown crops such as soybean, cotton, rice and vegetables suffered rain and flood damage during the we...

US import, export prices decrease in Oct

-- November 16, 2019 15:37:14

US import and export prices decreased in October, the US Department of Labor has reported. The price index for US imports fell 0.5 per cent in October, after rising 0.1 per cent in September and decl...

Indian tax officials find Modi's targets too taxing, some quit

-- November 16, 2019 15:03:05

Prime Minister Narendra Modi’s government wants them to collect 17  per cent more in direct taxes this year as New Delhi seeks to shore up revenues amid a sharp economic slowdown. The targe...

Global debt to top record $255 trillion by year's end

-- November 16, 2019 13:27:47

Global debt is on course to end 2019 at a record high of more than $255 trillion, the Institute of International Finance estimated on Friday — nearly $32,500 for each of the 7.7 billion people o...

BB steps up forex support to banks

SIDDIQUE ISLAM November 16, 2019 09:57:00

The central bank has scaled up its foreign currency support to the commercial banks to help settle their import payment obligations, particularly for oil, officials said. The Bangladesh Bank, or BB,...

Sri Lanka Prosperity Index improves record high

-- November 15, 2019 15:39:22

Sri Lanka's Prosperity Index (PI) saw a 42 per cent rise from 2017 to 2018, local media reports quoting the Central Bank of Sri Lanka (CBSL) said on Friday. The country’s PI grew from 0.548 in...

Govt adopts new strategy to curb money laundering

REZAUL KARIM November 15, 2019 10:42:27

The government has adopted a new strategy to combat trade-based money laundering and illicit financial outflow from the country with the incorporation of a few stringent provisions into it, officials...

Kamal vows to cut tax rates using all matrixes

FE REPORT November 15, 2019 10:19:11

Finance Minister A H M Mustafa Kamal has promised to reduce tax rates using all economic matrixes. The government will assess as to what extent it can reduce the tax rates by keeping tax collection c...

Top 20 defaulters: BB asks state banks to ramp up recovery

SIDDIQUE ISLAM November 15, 2019 09:59:49

The central bank has asked four state-owned commercial banks, or SoCBs, to gear up the recovery drive, keeping in mind top 20 defaulters. The instruction was given at a meeting held at the Banglade...

China economy grinds lower as Oct indicators miss forecasts

-- November 14, 2019 12:23:56

China’s factory output growth slowed significantly more than expected in October, as weakness in global and domestic demand and the drawn-out Sino-US trade war weighed on broad segments of the w...

Jobs at risk as China’s services sector feels heat of trade war

-- November 14, 2019 12:05:18

Annual profits at China’s Ningbo S-Power International Logistics Co are down a sharp 40 per cent year-on-year, and export orders have also fallen at a similarly dizzying rate. The firm’s...

Better logistics can help Bangladesh boost exports: WB

-- November 13, 2019 14:54:38

Bangladesh needs to improve its transport and logistics systems to meet the needs of its growing economy and boost export growth, said a new World Bank report launched on Wednesday. The report &ndash...

Country’s post-graduation challenges worry experts

FE REPORT November 11, 2019 10:24:34

Bangladesh will have to address a few core policy challenges to achieve the upper-middle income country status by 2031, economists said. The challenges include ensuring equitable tax system, capital...

Over 100 Indian CEOs to visit Davos for 50th WEF meet

-- November 10, 2019 19:10:13

Over 100 Indian CEOs, several political leaders and select Bollywood stars including Deepika Padukone will be in the Swiss ski resort town of Davos in January for the 50th anniversary of the WEF Annua...

Goldman faces probe after entrepreneur slams Apple Card algorithm in tweets

-- November 10, 2019 15:44:20

A probe into Goldman Sachs Group Inc’s credit card practices has been initiated after tweets from a tech entrepreneur alleged gender discrimination in the new Apple Inc card algorithms that are...

Banks’ assets-to-GDP ratio stands at 61.0 pc in FY19

FE ONLINE REPORT November 10, 2019 10:47:26

The country’s banking sector assets-to-GDP (Gross Domestic Product) declined marginally in the past fiscal year (FY19), according to a report released by the central bank last week. It showed t...

‘Infrastructure, skills crucial to develop ICT sector’

FE Online Report November 09, 2019 21:01:42

Lack of necessary infrastructure and skills need to be addressed to develop the information and communication technology (ICT) sector in the country. To this end, ICT R&D (research and developmen...

Taiwan's exports drops to $28.99b in Oct

-- November 09, 2019 13:57:09

Taiwan's exports dropped 1.5 per cent year on year to 28.99 billion US dollars in October, falling for two consecutive months, the latest data showed. The decline was mainly due to the falling export...

BD pays $987m to ACU for Sept-Oct imports

FE Report November 09, 2019 10:54:50

Bangladesh has made a routine payment of more than US$987 million to the Asian Clearing Union (ACU) against imports during the September-October period of this calendar year. After the payment, for...

EU cuts economic growth forecast for 2019, 2020

Xinhua November 08, 2019 16:35:14

The European Commission said on Thursday that euro area gross domestic product (GDP) is forecast to expand by 1.1 per cent in 2019 and by 1.2 per cent in 2020 and 2021. Compared with the projections...

China's foreign trade up 2.4pc in first 10 months

-- November 08, 2019 16:11:34

China's foreign trade registered stable growth in the first 10 months of this year with more opening-up measures to follow in the near future. The country's foreign trade volume expanded 2.4 per cent...

China's Oct exports, imports fall less than expected

Reuters November 08, 2019 13:20:31

China’s exports and imports contracted less than expected in October, providing some relief for the economy as Beijing tries to reach a partial trade deal with Washington. But even if a US-Chin...

Offshore banking: ABB pleads for easing rules

SIDDIQUE ISLAM November 08, 2019 10:01:38

Top executives of the private banks have urged the central bank to relax cash reserve ratio and statutory liquidity ratio requirements only for their offshore banking operations. Currently, the ban...

Philippine economy grows 6.2pc in third quarter

-- November 07, 2019 14:07:10

The Philippine Statistics Authority (PSA) said on Thursday that the country’s economy surged to 6.2 per cent in the third quarter of 2019, rose after two quarters of deceleration. PSA head Clai...

US productivity posts first fall in four years

-- November 07, 2019 12:20:19

The productivity of American workers in the third quarter fell for the first time in almost four years as the US economy slows, the Labor Department has reported. Nonfarm business sector labour produ...

Slowing Indian economy bodes ill for rupee: Poll

-- November 07, 2019 12:10:28

A slowing domestic economy will prevent India’s rupee from recouping this year’s losses against the dollar in 2020, with optimism around an easing in the US-China trade dispute not enough...

Pension scheme bypasses 40pc population: CPD

FE REPORT November 07, 2019 11:10:10

More than 40 per cent of the nearly eight million old-age people do not receive any pension. In contrast, only 10 per cent private sector employees receive some kind of gratuity or provident fund. T...

Farming in peril, warns ADB

A Z M ANAS, BACK FROM MANILA November 07, 2019 10:28:35

Blaming inefficiency in the agriculture market, a senior executive of the Asian Development Bank, or ADB, says it crumbles every three years and farmers make "very modest" profits. "Farmers don't mak...

Govt moves to formulate tourism master plan in two years

BSS November 06, 2019 19:14:09

The government has taken an initiative for the first time in the country’s tourism history to formulate a ‘tourism master plan’ in next two years for proper branding of Bangladesh in...

Workshop on PPP in Bangladesh

FE Online Desk November 06, 2019 12:57:52

Public Private Partnership Authority of Prime Minister’s Office recently organized a workshop on PPP in Bangladesh at Planning Commission, Agargaon, Dhaka. An overview on the opportunities &...