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The Financial Express

Search results for: economy

Finance minister says govt evaluating impact of fuel price hike

Finance minister says govt evaluating impact of fuel price hike

-- 2022-08-10 21:46:23

The government is evaluating the impact of the fuel price hike on the livelihoods of common people, according to Finance Minister AHM Mustafa Kamal.  “Necessary steps will be taken in cons...

Dollar price in kerb market jumps to Tk 120

Dollar price in kerb market jumps to Tk 120

-- 2022-08-10 19:52:06

The price of US dollars jumped to Tk 120 in the open market, commonly known as kerb market, on Wednesday amid persistent short supply of the greenback against the growing demand from importers and tho...

RMG export growth could drop to 15pc this year

RMG export growth could drop to 15pc this year

-- 2022-08-10 19:16:54

Growth in Bangladesh's ready-made garment (RMG) exports could drop to about 15 per cent this year after an unusually strong expansion of more than 30 per cent in 2021, two industry leaders told Reuter...

Bangladesh hasn’t asked for specific info on Swiss bank accounts, says ambassador

Bangladesh hasn’t asked for specific info on Swiss bank accounts, says ambassador

FE ONLINE DESK 2022-08-10 15:17:35

The Bangladesh government has not asked for any specific information on the Swiss bank accounts of its citizens, according to Switzerland Ambassador to Bangladesh Nathalie Chuard.  “We hav...

Bangladesh Bank eases rules for inward remittances amid forex crunch

Bangladesh Bank eases rules for inward remittances amid forex crunch

-- 2022-08-10 13:58:56

The central bank has relaxed the banking rules governing remittance inflows amid an ongoing foreign currency crunch. Banks can now establish drawing arrangements, an official channel to receive...

Kamal warns on loans from China

Kamal warns on loans from China

FE Online Report 2022-08-09 22:13:32

AHM Mustafa Kamal, finance minister of Bangladesh, talks to the Financial Times (FT) South Asia correspondent Benjamin Parkin on Bangladesh's economic situation and Chinese debt. The full report is re...

Bangladesh's export to grow with 98pc duty-free market access: China

Bangladesh's export to grow with 98pc duty-free market access: China

-- 2022-08-09 21:31:43

The duty-free treatment of 98 per cent tariff lines goods will help Bangladesh to further increase its export to China, says the Chinese Embassy in Dhaka on Tuesday. State Councilor and Foreign Minis...

Sri Lanka power regulator approves 75pc tariff hike

Sri Lanka power regulator approves 75pc tariff hike

-- 2022-08-09 14:50:16

Sri Lanka's power regulator said on Tuesday it had approved a 75 per cent hike in power tariffs, reports Reuters. "The Commission decided to approve a fair electricity tariff, taking all these...

BD's duty-free facility for Bhutan comes into effect

BD's duty-free facility for Bhutan comes into effect

DOULOT AKTER MALA 2022-08-09 08:29:14

Bangladesh has finally made the duty-free market-access facility under preferential trade agreement (PTA) effective for Bhutan through a much-awaited official gazette. The customs authority has offer...

IMF team due early Sept for negotiating major loan

IMF team due early Sept for negotiating major loan

FE REPORT 2022-08-09 08:01:15

An International Monetary Fund (IMF) delegation will visit Dhaka early next month to negotiate a major loan Bangladesh seeks specifically for funding budget deficit, officials say. Sources say the fo...

Inter-bank dollar exchange rate rises to Tk 95

Inter-bank dollar exchange rate rises to Tk 95

FE ONLINE DESK 2022-08-08 21:13:25

Bangladesh Bank has increased the inter-bank rate of a US dollar by 30 paisa in its latest move. According to media reports, the price of a US dollar now stands at Tk 95. On Monday, the central bank...

Bangladesh Bank orders removal of treasury chiefs of six banks

Bangladesh Bank orders removal of treasury chiefs of six banks

-- 2022-08-08 20:41:47

Bangladesh Bank has ordered the removal of treasury chiefs of six banks for their involvement in raising the price of the US dollar by hoarding more greenbacks than necessary. The banks include five...

NBR signs deals with DPDC, DESCO, BRTA to trace errant landlords, car owners

NBR signs deals with DPDC, DESCO, BRTA to trace errant landlords, car owners

-- 2022-08-08 18:50:15

The National Board of Revenue (NBR) has struck three agreements to trace errant landlords and car owners as part of efforts to widen the tax net. The deals on Application Programming Interface (API)...

Black money whitening declined in FY22: NBR data

Black money whitening declined in FY22: NBR data

-- 2022-08-08 17:56:32

The number of black money holders paying taxes under an amnesty decreased by19.16 per cent to 2,300 in FY22, according to the latest NBR data availed on Monday In the last financial year, there was a...

Currencies find breathing space as dollar eases slightly

Currencies find breathing space as dollar eases slightly

-- 2022-08-08 16:46:30

Emerging market currencies came off session lows on Monday, as the dollar eased slightly after a strong rally spurred by rising bets of the US Federal Reserve staying aggressive with its monetary poli...

'Bangladesh seeks IMF assistance on precautionary grounds'

'Bangladesh seeks IMF assistance on precautionary grounds'

FE REPORT 2022-08-08 09:06:07

Bangladesh has sought assistance from International Monetary Fund (IMF) on precautionary grounds to deal with future uncertainty unlike Sri Lanka and Pakistan where economy is already in distress, sai...

Inflation surge, wage stagnation erode people’s purchasing power

Inflation surge, wage stagnation erode people’s purchasing power

JASIM UDDIN HAROON 2022-08-08 08:24:31

Wage growth in Bangladesh remains stymied in relation to soaring headline inflation and the mismatch stokes concerns about shrinkage of people's real income and its compound fallout. As a result of t...

China's exports gain steam though outlook remains uncertain

China's exports gain steam though outlook remains uncertain

-- 2022-08-07 14:57:53

China's export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could start...

Moderately hawkish RBI to keep India rupee supported, analysts say

Moderately hawkish RBI to keep India rupee supported, analysts say

-- 2022-08-06 12:06:13

The Indian rupee is unlikely to fall significantly from current levels against the US dollar after the Reserve Bank of India on Friday opted for a 50 basis points rate hike, analysts said, Reuters rep...

Sri Lanka considering restructure of local and sovereign debt

Sri Lanka considering restructure of local and sovereign debt

-- 2022-08-06 11:12:28

Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history....

Bangladesh for securing SAFTA benefits in CEPA pact with India

Bangladesh for securing SAFTA benefits in CEPA pact with India

SYFUL ISLAM and REZAUL KARIM 2022-08-06 08:59:40

Bangladesh will push for securing the benefits it enjoys under the SAFTA deal when negotiations on Comprehensive Economic Partnership Agreement (CEPA) start with India soon, officials say. As a least...

Uncertainty, BDT depreciation fuel faster capital outflow

Uncertainty, BDT depreciation fuel faster capital outflow

JASIM UDDIN HAROON 2022-08-06 08:26:00

Bangladesh's capital market experiences tantrums amid unprecedented capital outflows since April, which many describe as a result of recurrent depreciation of the local currency against the dollar. B...

Bangladesh offers Nepal use of seaports for mutual benefits

Bangladesh offers Nepal use of seaports for mutual benefits

-- 2022-08-05 17:45:09

Bangladesh has again proposed Nepal to use Mongla and Chattogram seaports alongside Syedpur airport for mutual benefits.  Prime Minister Sheikh Hasina made the offer while a visiting parliamenta...

Japan takes step into green GDP research

Japan takes step into green GDP research

-- 2022-08-05 17:39:05

Japan on Friday took a first step into its research for a green gross domestic product (GDP) measurement that reflects the country's progress in reducing greenhouse gas emissions in its economic growt...

UN food price index falls again in July

UN food price index falls again in July

-- 2022-08-05 15:09:09

The United Nations food agency's world price index declined again in July, edging further away from all-time highs hit in March. The Food and Agriculture Organization's (FAO) index, which tracks the...

India central bank raises key rate for third time to tame inflation

India central bank raises key rate for third time to tame inflation

-- 2022-08-05 12:43:49

The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in as many months to cool stubbornly high inflation. With June retail inflation at 7...

Bangladesh’s economic indices rebound in July

Bangladesh’s economic indices rebound in July

FE ONLINE DESK 2022-08-05 11:01:18

The pressure on Bangladesh’s economy, generated by rising imports against less-than-sufficient exports and falling remittances amid escalating inflation, has eased slightly as the indices have r...

Global energy crisis drives rethink of nuclear power projects

Global energy crisis drives rethink of nuclear power projects

REUTERS 2022-08-05 10:33:28

The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970...

BB Governor asks banks to operate in compliance, good governance

BB Governor asks banks to operate in compliance, good governance

-- 2022-08-04 20:14:13

Bangladesh Bank Governor Abdur Rouf Talukder said that banks must comply with rules in debt management and other activities assuring that the central bank will ensure good governance in the banking se...

Ukraine needs to export 50m tons of grain this year 

Ukraine needs to export 50m tons of grain this year 

-- 2022-08-04 19:12:19

Ukraine needs to export some 50 million tons of grain in the 2022-2023 marketing year amid the need to store last year's crops and grain from the new harvest, an industry body said on Wednesday. ...