Search results for: economy

NBR clarifies rule to re-export fertilizer to Nepal

Doulot Akter Mala 2021-01-21 08:50:49

The National Board of Revenue's (NBR) Customs Wing has given permission to re-export fertiliser to Nepal after importing it from China, under entrepot trade, imposing a condition of 10 per cent local...

Liquidity glut on the banks could fuel inflation, central bank warns

SIDDIQUE ISLAM 2021-01-21 08:14:19

The surplus liquidity in the banking system might fuel inflationary pressure in the country in the near future, the Bangladesh Bank (BB) has said in its just-published annual report for the fiscal y...

Two African countries to take farmworkers from Bangladesh, informs minister

FE ONLINE REPORT 2021-01-20 18:02:40

Bangladesh is in talks with several African countries to sending workers and Sudan and Kenya have already agreed to take Bangladeshi farmworkers, said Foreign Minister Dr AK Abdul Momen on Wednesday....

Biden's Treasury nominee Yellen for big spending now, paying down debt later

-- 2021-01-20 10:10:46

Janet Yellen, US President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on coronavirus relief spending, arguing that the economic benefit...

Bangladeshi women get lowest wage in Oman: Study

FE Report 2021-01-20 09:01:54

Bangladeshi women domestic workers receive the lowest wage in Oman, according to a study. It has showed that Filipino women call the highest rate of pay as elsewhere in the gulf region. The minimu...

Poor project execution prompts soul-searching

FHM HUMAYAN KABIR 2021-01-20 08:45:24

The Planning Commission (PC) has taken a tough stance against the projects in the Barishal region that have made very poor progress, in terms of their execution. Planning Minister M.A. Mannan himse...

Govt appoints Ahmed Jamal as central bank director

-- 2021-01-19 20:14:15

The government has appointed Bangladesh Bank (BB) deputy governor Ahmed Jamal as the director of the Board of Directors and the member of the executive committee of the bank for the next three years....

Costs of mega projects escalate; RHD demands higher funds

FHM Humayan Kabir 2021-01-19 09:03:23

The Roads and Highways Department (RHD) has sought 10 per cent higher funds than its allocation to finance some mega projects ahead of the annual development programme (ADP) revision, officials said o...

Trade and Tariff Commission proposes withdrawal of VAT on cooking oil production, trading

SYFUL ISLAM 2021-01-19 08:59:14

Amid the skyrocketing prices of edible oils in the local market, a government body has suggested withdrawing value-added tax (VAT) to tame inflation. The Bangladesh Trade and Tariff Commission (BTTC)...

Karnaphuli tunnel to be ready for vehicular movement by next year

-- 2021-01-18 20:13:25

The 3.32-kilometre long tunnel under the Karnaphuli River in Chattogram is expected to be ready for vehicular movements by 2022.  “The overall progress of Karnaphuli Tunnel has reached 62...

China economy ends pandemic-hit 2020 with growth beating forecasts

REUTERS 2021-01-18 12:59:42

China's economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-stricken 2020 in remarkably good shape and remained poised to expand further thi...

Interest spread up slightly; Banks' excess liquidity all-time high at Tk 2.0tn

SIDDIQUE ISLAM 2021-01-18 08:27:21

The interest rate spread increased slightly in November 2020, as the banks slashed their deposit rates more than the lending ones, bankers have said. The interest on deposit decreased at comparativ...

Tk 10b refinance scheme set up for tech upgrading of export units

FE REPORT 2021-01-18 08:15:54

Bangladesh Bank (BB) has formed a Tk10 billion refinancing scheme to provide low-cost loans to the export-oriented industries for upgrading technologies. The scheme is also meant for strengthening...

Agriculture minister hopeful of achieving 50pc irrigation efficiency by 2030

-- 2021-01-17 20:29:58

Agriculture Minister Abdur Razzaque on Sunday said the irrigation efficiency would be increased up to 50 per cent by 2030 aiming to expand more cost-effective irrigation facilities for the farmers. &...

Govt rolls out new stimulus worth Tk 27.0b for small businesses

-- 2021-01-17 17:24:04

The government has announced two more stimulus packages worth Tk 27 billion to help small, medium and cottage industries and expand social safety coverage. Prime Minister Sheikh Hasina has approved t...

Italy's public debt may surge to post-war record high at 158.5pc of GDP

Reuters 2021-01-17 13:18:06

Italy forecasts its debt to soar to a new post-war record level of 158.5 per cent of gross domestic output (GDP) this year, surpassing the 155.6 per cent goal it set in September, a government source...

IsDB lends $47m to supplement stimulus packages for SMEs

ISMAIL HOSSAIN 2021-01-17 12:28:24

The Islamic Development Bank (IsDB) has come forward with a US$47 million credit line to support the country's small and medium enterprises (SMEs), hit hard by the pandemic, but abandoned by banks as...

Apparel sector needs collaboration among stakeholders for recovery, experts say

FE ONLINE REPORT 2021-01-16 21:17:45

A collaborative approach among governments, brands and suppliers will be the key to ensure better recovery of the global apparel sector which has suffered an unprecedented disruption in view of the CO...

ADB, EIB form partnership to protect oceans, support blue economy

-- 2021-01-16 19:04:06

The Asian Development Bank (ADB) and the European Investment Bank (EIB) has formed a new clean and sustainable ocean partnership to support initiatives in Asia and the Pacific to help meet the SDGs an...

Poor project implementation may lead to cutting development budget

FHM Humayan Kabir 2021-01-16 08:58:00

The annual development programme (ADP) is likely to be revised soon with a significant cut due to poor project execution by the ministries and agencies in the first half of the current fiscal, officia...

China's battle against fresh COVID outbreak clouds economic recovery

Reuters 2021-01-15 17:09:17

New cases in China are at 10-month highs, prompting the lockdown of 28 million people in two provinces, disrupting logistics and industrial activity, with millions expected to scrap holiday travel pla...

Turkey’s costly food starves the economic rebound

REUTERS 2021-01-15 15:49:34

Food has become so expensive in Turkey that some people are spending what money they have to stock up on rice and pasta to avoid swallowing even higher prices in the months ahead. Parents have switch...

Biden’s Covid-19 package offers bridge for hard-hit economy

REUTERS 2021-01-15 15:00:11

US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-te...

Only 24pc of development budget spent in first half

FHM HUMAYAN KABIR 2021-01-15 11:07:44

The government agencies executed only 24 per cent of the annual development programme in the first half of the current fiscal in a sign of sluggish project work, officials said on Wednesday. They s...

Bangladesh Bank further eases import payment

FE REPORT 2021-01-15 08:59:55

The central bank has extended the upfront import payment regime, allowing offshore banks and external financiers to pay under the buyer's credit. Currently, domestic banks are allowed to make such an...

Japan's households, firms keep piling up cash at record pace

-- 2021-01-14 11:41:11

Japan’s currency in circulation and bank deposits rose at a record pace in December, data showed on Wednesday, as a resurgence in coronavirus infections prompted companies and households to cont...

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

-- 2021-01-14 11:11:38

World Bank President David Malpass urged private sector creditors to finally step up and help poor countries deal with the economic and health crises unleashed by the Covid-19 pandemic and stop collec...

Stimulus-induced liquidity may create inflationary pressure

FE Online Report 2021-01-14 10:46:47

The policy relaxations by Bangladesh Bank and low-cost refinancing lines of credit along with the government's big stimulus packages to support economic activities had already injected a big liquidi...

Bank depositors in distress as real rate of returns recedes

FE REPORT 2021-01-14 08:57:23

The real rate of return on deposits in the money market had turned negative between the months of April and December last year. The average rate of interest on bank deposits went below or remained cl...

Economy may attain 7.40pc growth if second wave doesn’t cause downturn: BB policy review

FE Online Report 2021-01-13 20:31:18

Bangladesh economy may reach the annual growth target of 7.40 per cent in the current fiscal year (FY21) as long as the second wave of Covid-19 does not restrain the economic activities and the develo...