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The Financial Express

Search results for: economy

ADB approves $250m policy-based loan for Bangladesh CMSMEs

ADB approves $250m policy-based loan for Bangladesh CMSMEs

FE ONLINE REPORT 2021-09-25 17:01:10

The Asian Development Bank (ADB) on Saturday approved a $250 million policy-based loan to support Bangladesh’s economic recovery following the COVID-19 pandemic. The Board of Directors of the M...

Bangladesh’s development plan to address Covid-19 consequences: Official

Bangladesh’s development plan to address Covid-19 consequences: Official

FE ONLINE REPORT 2021-09-25 15:16:57

The country’s long-term development plan needs to include measures to remedy the consequences of the Covid-19 pandemic, a Planning Commission Member has acknowledged. Nasima Begum also told a w...

Stimulus: boon to midsize units, bane for minors

Stimulus: boon to midsize units, bane for minors

JASIM UDDIN HAROON 2021-09-25 08:28:09

Loan disbursement from the stimulus package dedicated to cottage, micro, small and medium enterprises was far below the mark, but, yet, midsize ones made the most out of it for their closer kinship...

China declares all cryptocurrency transactions illegal

China declares all cryptocurrency transactions illegal

-- 2021-09-24 19:05:56

China's central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Chinese banks were ba...

Bangladesh's economic recovery ‘on track’, says central bank

Bangladesh's economic recovery ‘on track’, says central bank

SIDDIQUE ISLAM 2021-09-24 09:47:45

The central bank sees a possible broad-based economic recovery in the near future due to improvement in Covid situation and wider reopening. It, however, warned of lurking downside risks from both...

Economist magazine calls for Georgieva to quit IMF over WB data scandal

Economist magazine calls for Georgieva to quit IMF over WB data scandal

-- 2021-09-24 08:59:39

A former World Bank official who prepared reports at the center of a data-rigging scandal that aided China defended IMF chief Kristalina Georgieva on Thursday as the Economist magazine called for her...

Small-scale farmers getting pittance as wage is outrageous, says IFAD

Small-scale farmers getting pittance as wage is outrageous, says IFAD

-- 2021-09-23 20:17:02

President of the International Fund for Agricultural Development (IFAD) Gilbert F. Houngbo has said it is outrageous that rural small-scale farmers in developing countries, who grow one-third of the g...

Bangabandhu’s ‘Sonar Bangla’ dream yet to come true: Development thinkers

Bangabandhu’s ‘Sonar Bangla’ dream yet to come true: Development thinkers

FE ONLINE REPORT 2021-09-23 17:13:50

Bangladesh still has a long way to go to accomplish the vision of ‘Sonar Bangla’ or the golden Bengal, as dreamt of by Bangabandhu, economic analysts and former officials say. They regret...

Bangladesh Bank eases rules to release foreign exchange for private purposes

Bangladesh Bank eases rules to release foreign exchange for private purposes

FE ONLINE REPORT 2021-09-23 14:31:08

The central bank of Bangladesh has simplified its regulations on releasing foreign exchange for private travel purposes. Under the relaxations, authorised dealer (AD) banks have been allowed to endor...

‘Interest rates on savings tools still higher than other deposit schemes’

‘Interest rates on savings tools still higher than other deposit schemes’

FE ONLINE DESK 2021-09-22 20:21:30

Finance Minister AHM Mustafa Kamal has said although the government has lowered the interest rates on different national savings instruments, the interest rates on savings certificates are still highe...

China's overseas coal power retreat could wipe out $50b of investment

China's overseas coal power retreat could wipe out $50b of investment

-- 2021-09-22 18:33:50

China's pledge to stop building coal-fired power plants overseas could cull $50 billion of investment as it slashes future carbon emissions, analysts said, although Beijing's own domestic coal program...

Bangladesh "on a mission" as WB tells the story of development journey 

Bangladesh "on a mission" as WB tells the story of development journey 

FE ONLINE DESK 2021-09-22 13:11:32

A relatively young country having gained independence a little over 50 years ago, Bangladesh has still made exceptional strides in reducing poverty and boosting shared prosperity over the last five...

ADB cuts Bangladesh growth forecast in pandemic fallout

ADB cuts Bangladesh growth forecast in pandemic fallout

-- 2021-09-22 12:46:29

The Asian Development Bank has cut Bangladesh’s growth forecast from 6.8 per cent to 5.5 per cent for 2021 in its latest report on the state of Asian economies. The Manila-based institution als...

ADB launches new partnership strategy for Bangladesh

ADB launches new partnership strategy for Bangladesh

-- 2021-09-21 19:51:12

The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Bangladesh that aims to boost competitiveness and employment and promote green growth and climate resilience....

Govt slashes rates on savings certificates

Govt slashes rates on savings certificates

FE ONLINE REPORT 2021-09-21 14:36:59

The government on Tuesday lowered the rate of return on savings schemes. The Internal Resources Division (IRD) under the Ministry of Finance (MoF) issued a notification to this effect on Tuesday. Th...

Bangladesh Bank relaxes forex rules in export, import

Bangladesh Bank relaxes forex rules in export, import

FE REPORT 2021-09-21 08:35:19

The Bangladesh Bank (BB) has brought relaxation in foreign-exchange regulations in export, import, remittance and other trade services to overcome economic challenges of the Covid-19 pandemic, said BB...

Four more products will receive cash incentives against export, says BB

Four more products will receive cash incentives against export, says BB

-- 2021-09-20 21:16:31

Four more products will get cash incentives from the government against their exports, according to the central bank. The new products, each of which will receive the cash support at the rate of 4.0...

Saudi Arabia keen to invest more in Bangladesh

Saudi Arabia keen to invest more in Bangladesh

FE ONLINE DESK 2021-09-20 18:31:11

Noting that Bangladesh has an investment-friendly climate, the Saudi investment minister has said there is potential for more Saudi investment in Bangladesh. Saudi investment minister Khalid Al-Falih...

Nagad gives Tk 33.2m to postal dept as revenue share in FY21

Nagad gives Tk 33.2m to postal dept as revenue share in FY21

-- 2021-09-20 18:13:03

Mobile financial service Nagad has handed over Tk 33.20 million (Tk 3,31,94,877) to the Bangladesh Post Office as its revenue share for FY21. Posts and Telecommunications Division Secretary Md. Afzal...

Banks' commissions cut to squeeze savings certificate sales growth

Banks' commissions cut to squeeze savings certificate sales growth

DOULOT AKTER MALA 2021-09-20 10:27:16

The government presses the brake on sales of national savings certificates (NSC) by way of slashing receivable commissions of commercial banks against transactions in these borrowing tools. The banks...

Islamic banks see liquidity glut, investment holdup blamed

Islamic banks see liquidity glut, investment holdup blamed

Siddique Islam 2021-09-20 09:45:58

A glut of idle money and a concurrent investment holdup amid the pandemic hangover leave Bangladesh's Islamic banking sector in a quandary with excess liquidity in the vault, sources say. They say th...

Pandemic increases risks of illicit financial flows, UAE central bank says

Pandemic increases risks of illicit financial flows, UAE central bank says

-- 2021-09-19 19:42:32

The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the COVID-19 pandemic, including money-laundering and terrorism financing, it said in a report publi...

India seeks to welcome back overseas tourists

India seeks to welcome back overseas tourists

-- 2021-09-19 19:33:16

India on Sunday reported 30,773 new coronavirus infections in the past 24 hours, taking the total to 33.4 million, as it seeks to reopen the country to overseas tourists. The death toll rose by 309 t...

Revenue growth during pandemic attributed to rise in source-tax

Revenue growth during pandemic attributed to rise in source-tax

DOULOT AKTER MALA 2021-09-19 08:43:29

Government's growing dependence on at-source-tax collection, including tax on service-holders' pay, is practically shifting tax burden onto common people because of absence of effective refund mechani...

Commerce minister seeks support to LDCs for 12 more years

Commerce minister seeks support to LDCs for 12 more years

FE REPORT 2021-09-18 10:18:24

Commerce minister Tipu Munshi has urged all parties to support a 12-year extension proposal by the LDC Group in the World Trade Organisation (WTO). The extension will help the LDCs get preferential t...

Rediscovery of Bangladesh's economic priorities emphasised

Rediscovery of Bangladesh's economic priorities emphasised

FE REPORT 2021-09-18 08:38:37

Bangladesh can emulate Vietnam's development experiences by adapting their policies to its context in the changing paradigm, including increasing investment on innovation and technology, research and...

Harnessing man-made fibre potential vital for Bangladesh economy

Harnessing man-made fibre potential vital for Bangladesh economy

MIR MOSTAFIZUR RAHAMAN 2021-09-18 08:34:50

As Bangladesh struggles to keep its position as the second-largest apparel exporter of the world, the country is desperately in need of policy support to make a solid foothold on potential man-made fi...

Money for poor pours into wrong pockets, says WB

Money for poor pours into wrong pockets, says WB

FE REPORT 2021-09-17 09:45:33

Some 49-66 per cent of Bangladesh's social-safety-net-allowance-and food-support beneficiaries are not poor, says the World Bank, indicating porous delivery system for the state annuity. It is one of...

Saudi Arabia launches programme to develop human capabilities

Saudi Arabia launches programme to develop human capabilities

-- 2021-09-16 19:07:36

Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has launched the Human Capability Development Programme (HCDP), the Saudi Press Agency reported on Wednesday. It is one of the pr...

Facebook, Google, Amazon pay Tk 45.99m VAT in August

Facebook, Google, Amazon pay Tk 45.99m VAT in August

-- 2021-09-16 16:55:17

Popular social media Facebook, e-commerce giant Amazon, and American multinational technology company Google have deposited Tk 4,60,73,460 as VAT to the state coffer. These three giants paid the amou...