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The Financial Express

Search results for: economy

G20 pledges more than $21b to fight coronavirus

-- June 06, 2020 16:19:28

The Group of 20 rich and emerging economies has pledged more than 21 billion US dollars to fight the coronavirus (COVID-19), the group said early on Saturday.  “The G20, with invited count...

BGBA seeks reduction of AIT to 5.0pc in next budget

FE ONLINE REPORT June 06, 2020 15:53:11

Bangladesh Garment Buying House Association has demanded a reduction in Advance Income Tax (AIT) to 5.0 per cent from the existing 10 per cent in the next budget. “Due to the ongoing coronaviru...

Cambodia likely to lose $3b in tourism revenue in 2020

-- June 06, 2020 13:47:34

Cambodia may lose about 3.0 billion US dollars in tourism revenue in 2020 as foreign tourists to the kingdom dropped sharply due to the impact of the COVID-19, said Tourism Minister Thong Khon. Touri...

10pc hike in ADP outlay for agri sector likely

Yasir Wardad June 06, 2020 09:35:27

Allocation for the agriculture sector is set to rise by 10 per cent in the development budget for the fiscal year (FY) 2020-21. The basic objective behind earmarking higher allocation for the agric...

Ministry prods SoBs over virus stimulus packages

FE REPORT June 06, 2020 09:32:51

The ministry of finance (MoF) has asked the state-owned banks (SoBs) to expedite steps to implement the stimulus packages that the government announced to help recoup the impacts of Covid-19 pandemic...

Insurers hit hard by pandemic

FE REPORT June 06, 2020 09:26:02

The gross premium of 33 life insurance companies rose by nearly 7.0 per cent in 2019 before the arrival of the novel coronavirus in the country. The rate for 46 non-life insurers also grew by nearly...

Foreign currency reserve, annual remittance hit record

-- June 05, 2020 22:43:01

Expatriate Bangladeshis sent around $16.56 billion in remittance until June 3 of the current fiscal 2019-20, which is all-time high of any fiscal. “As of June 30, in previous fiscal year, Bangl...

US labour market sees surprise improvement in May

-- June 05, 2020 21:20:28

The US labour market improved unexpectedly in May raising hopes that economic damage tied to the pandemic will be less harmful than feared. The unemployment rate fell to 13.3 per cent, down from 14.7...

Singapore's retail sales fall sharply in April

-- June 05, 2020 16:19:28

Singapore's retail sales decreased by 40.5 per cent year on year this April, compared to the 13.3 per cent decrease in the previous month, said the Department of Statistics (DOS) of Singapore on Frida...

Indian consumer confidence at historic low: RBI

-- June 05, 2020 12:26:12

Indian consumers are facing double whammy with their confidence in May touching historic low of 63.7 per cent from 85.6 per cent in March, along with expectations of retail inflation accelerating in t...

Import-export thru' Benapole halted since March 23

Doulot Akter Mala June 05, 2020 09:53:13

Import-export activities with India through the country's largest land-port Benapole have remained almost stalled since March 23, raising serious concerns over supply chain disruption of essentials....

Thousands of garment workers lose jobs

MONIRA MUNNI June 05, 2020 09:46:41

Thousands, mostly garment operatives, have lost their jobs in what industry insiders describe as a fall in production and work orders amid the Covid-19 pandemic. Some 67 factories, including seven no...

IMF almost halves GDP growth rate

SIDDIQUE ISLAM June 05, 2020 09:46:29

The International Monetary Fund or IMF has lowered GDP growth projection for Bangladesh to 3.8 per cent for fiscal year 2019-2020 from its earlier estimate of 7.4 per cent in the aftermath of the pand...

Private sector credit growth drops further

FE REPORT June 05, 2020 09:41:06

Private sector credit growth decelerated further in April due to lower credit demand following supply chain disruption caused by the coronavirus pandemic, bankers said. The growth in credit flow to t...

Enforce 'hard' lockdown

FE REPORT June 05, 2020 09:32:33

Economic policy experts, private sector leaders and health professionals have suggested enforcement of a 'hard' lockdown in the country for some days to help control an unmanageable spike in Covid-19...

Farmers incur Tk 565b loss on shutdown

FE REPORT June 05, 2020 09:27:48

The farmers incurred a loss worth Tk 565 billion during the 45-day general holidays announced by the government to prevent the spread of coronavirus, according to BRAC research released on Thursday....

RMG factories may slash workforce from June: BGMEA chief

-- June 04, 2020 20:52:30

The readymade garments (RMG) factories can now use only half their workforce due to the coronavirus crisis, which may lead them to shed jobs from June, Rubana Huq fears. She says the owners are ready...

Govt so far announces $12.11b stimulus to combat COVID-19

-- June 04, 2020 20:23:58

The government has so far announced 19 stimulus packages worth over $12.11 billion (Tk 1,02,957 crore) to offset the COVID-19 shock on various sectors and minimise the sufferings of the people hit har...

Forex reserves cross $34 billion mark for first time

FE Online Report June 04, 2020 13:22:07

Bangladesh’s foreign exchange reserves have crossed US$34 billion mark for the first time, after a substantial amount of fund was received from a multilateral donor agency, officials said. The...

Vietnam garment export value falls 14.5pc in five months

-- June 04, 2020 12:16:21

Vietnam's total textile and garment export value in the first five months of this year declined by 14.5 per cent year-on-year to over 10.4 billion US dollars, according to the country's General Statis...

People urge govt to announce pro-poor budget

-- June 04, 2020 11:41:13

People who have been hit hard by the recent shutdown aimed at containing the coronavirus outbreak, have urged the government to announce a pro-poor national budget that saves both the lives and liveli...

5.4pc inflation rate likely next fiscal

FHM Humayan Kabir June 04, 2020 09:26:46

The government is likely to keep the average inflation rate within the 5.4 per cent limit in fiscal year 2020-21, officials said on Wednesday. The inflation target for the next fiscal will be propose...

Budget spending to go up by 11pc in FY '21

SYFUL ISLAM June 04, 2020 09:25:55

The appointment of additional number of doctors and nurses to fight coronavirus pandemic will push up the operating expenditure of the government by around 11 per cent in the next fiscal year (FY'21)...

COVID-19 may cost global economy $82t in five years

-- June 03, 2020 19:33:32

The global economy could take a hit of some $82 trillion in a worst case scenario from the coronavirus over the next five years, according to recent findings by University of Cambridge. The Centre fo...

Virus brings Asia's online lending sector to juddering halt

Reuters June 03, 2020 11:19:41

The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans. Within weeks, the coronavirus pandemic had taken hold, drastically changing the pic...

RMG, footwear suffer most during pandemic

MONIRA MUNNI June 03, 2020 09:40:10

Garment, footwear and construction sectors have suffered the biggest economic hit during the Covid-19 pandemic with supply chain disruption as the top challenge, according to a latest report. An esti...

Budget for FY 2021: Higher debt to drive up interest payment

FE REPORT June 03, 2020 09:28:34

With the government's bank and non-bank borrowing on a steep rise, the next fiscal's budget is likely to earmark an allocation of Tk 635.25 billion for paying interest. The allocation is up by Tk 64....

DSCC to collect tax from all 26 sectors

FE REPORT June 03, 2020 09:27:41

Dhaka South City Corporation (DSCC) will collect tax from all the 26 sectors, instead of the present nine, to increase the revenue income of the corporation without increasing tax burden on citizens...

This years’ budget is our 'survival budget'  

-- June 03, 2020 00:59:45

This years’ budget must put thrust on ensuring our survival through strengthening health, medical and social security sector. Prominent economic analysts and experts shared such thought on up...

UNCTAD appoints Dona Bertarelli as special adviser for blue economy

FE ONLINE DESK June 02, 2020 22:26:37

The United Nations Conference on Trade and Development (UNCTAD) has appointed Dona Bertarelli, an ocean conservation advocate, as its special adviser for blue economy. Dona Bertarelli, a Swiss philan...