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The Financial Express

Search results for: economy

16km road building at Safari Park sees 300pc cost overrun

16km road building at Safari Park sees 300pc cost overrun

FHM HUMAYAN KABIR 2022-01-26 08:38:02

Four years have elapsed, but forest department has failed to build a 16-kilometre road at Bangabandhu Safari Park in Gazipur, resulting in a 301-per cent cost overrun. Yet, the Executive Committee...

NBR to crop National Single Window project

NBR to crop National Single Window project

FE REPORT 2022-01-26 08:30:26

The revenue board has decided to trim the Tk 5.85 billion National Single Window (NSW) project detecting its overlapping components. It has found components of NSW, one of largest projects, have alre...

Bangladesh offered help to retain growth pace in post-LDC period

Bangladesh offered help to retain growth pace in post-LDC period

FE REPORT 2022-01-24 09:23:10

Commonwealth Enterprise and Investment Council (CWEIC) is willing to assist Bangladesh in sustaining its robust economic growth after the country's graduation from the category of least developed coun...

Dhaka renews efforts to brand Bangladesh

Dhaka renews efforts to brand Bangladesh

-- 2022-01-23 21:22:25

The government of Bangladesh wants to expedite its efforts to brand Bangladesh abroad highlighting its areas of strength with an aim to make the country a more attractive destination for trade and inv...

Textiles, apparel exports to US increase by 30.68pc in 2021

Textiles, apparel exports to US increase by 30.68pc in 2021

-- 2022-01-23 18:52:10

The import volume of textiles and apparel from Bangladesh by the United States of America (USA) keeps growing with 30.68 per cent rise last year, according to the Office of Textiles and Apparel (OTEXA...

BB introduces credit guarantee facility to pace loans disbursement among marginal groups   

BB introduces credit guarantee facility to pace loans disbursement among marginal groups  

-- 2022-01-23 18:27:22

Bangladesh Bank (BB) has introduced a new credit guarantee facility to speed up loan disbursement to landless farmers, low income professionals, school banking account holders and small traders. Th...

Returns on foreign loans may squeeze as Bangladesh's debt servicing liabilities surge

Returns on foreign loans may squeeze as Bangladesh's debt servicing liabilities surge

FHM HUMAYAN KABIR 2022-01-22 09:12:17

Bangladesh's net foreign loans fell as repayments under debt-servicing liabilities surged year on year in the last fiscal, officials say as economists caution about its blowback impact. As government...

Govt plans to allocate Tk 344b for social safety net in FY23

Govt plans to allocate Tk 344b for social safety net in FY23

-- 2022-01-21 16:55:35

The government is planning to widen the coverage of the social safety net for the marginalised and vulnerable people as the Covid-induced loss of income and livelihood might push more people into pove...

Bangladesh produces record 96.5m kg of tea in 2021

Bangladesh produces record 96.5m kg of tea in 2021

-- 2022-01-20 17:45:44

Bangladesh has set a record in tea production through producing a total of 96.50 million kilogrammes (kgs) of the world’s one of top commodities in 2021. Bangladesh Tea Board in a notice on Wed...

China steps up monetary stimulus effort to underpin economy

China steps up monetary stimulus effort to underpin economy

-- 2022-01-20 13:51:11

China stepped up its monetary easing efforts to prop up a slowing economy this week by lowering a set of key policy rates and lending benchmarks, and markets believe Beijing could ease further before...

Inflation breaks records, $100 oil also looming

Inflation breaks records, $100 oil also looming

-- 2022-01-20 12:03:32

Already less transitory than forecast, central bankers' inflation headache may be about to become more acute as they face the prospect of $100-plus oil that lifts consumers' price expectations and int...

Bangladesh's forex market comes under central bank scanner

Bangladesh's forex market comes under central bank scanner

SIDDIQUE ISLAM 2022-01-19 08:41:59

The central bank mounts its monitoring of the foreign-exchange market to avert any further volatility as Bangladesh's forex reserves feel stresses, sources say. Higher import-payment obligations fr...

Economist draws parallel between Bangladesh’s recovery, reduction of inequality

Economist draws parallel between Bangladesh’s recovery, reduction of inequality

SAJIBUR RAHMAN 2022-01-18 18:52:26

A possible waiver of patent of coronavirus vaccines could have helped Bangladesh to reduce inequality through stemming of the periodic tide of Covid-19 infections, a senior economist has said. As a l...

Economies returning to normalcy with lower severity of omicron

Economies returning to normalcy with lower severity of omicron

MARK JOHN AND HOWARD SCHNEIDER, REUTERS 2022-01-18 18:25:17

Governments worldwide are easing quarantine rules, reviewing coronavirus curbs and dialling back pandemic-era emergency support as they bid to launch their economies back into some version of normalit...

No bank can lend more than 25pc of its capital to any company or group

No bank can lend more than 25pc of its capital to any company or group

-- 2022-01-17 21:24:15

Bangladesh Bank (BB) has fixed banks’ single borrower and large exposure lending limit to within 25 per cent of its capital. The central bank issued the policy to strengthen credit risk managem...

China's economy expands 8.1pc in 2021

China's economy expands 8.1pc in 2021

-- 2022-01-17 15:35:24

China's economy posted stable growth in 2021 despite challenges including sporadic epidemic resurgences and a complicated external environment, official data showed Monday. The country's gross domest...

Circular economy can make living cheaper, planet safer: FBCCI seminar

Circular economy can make living cheaper, planet safer: FBCCI seminar

FE REPORT 2022-01-17 09:48:34

Plans were unveiled at meet Sunday to upgrade recycling sectors to industry in Bangladesh as experts stressed spurring circular economy to ensure the quality of growth and make it more sustainable. T...

Bangladesh's economic indicators puzzle economists

Bangladesh's economic indicators puzzle economists

JASIM UDDIN HAROON 2022-01-15 09:03:24

Two key indicators in Bangladesh's external trade, export and import, as ratio of GDP remain squeezed somewhere around 10 while that of competing Vietnam's ride over 100 per cent, economists observe....

Bangladesh, Singapore eye early conclusion of FTA

Bangladesh, Singapore eye early conclusion of FTA

-- 2022-01-13 17:27:49

Applauding the initiative for a free trade agreement (FTA) between Bangladesh and Singapore, Foreign Minister Dr AK Abdul Momen on Thursday said FTA would be mutually beneficial by further enhancing t...

Bangladesh Bank asks bankers to augment remittance inflow amid dollar crunch

Bangladesh Bank asks bankers to augment remittance inflow amid dollar crunch

SIDDIQUE ISLAM 2022-01-13 08:34:27

The central bank asks top bankers to jumpstart moves to augment remittance inflow immediately for ensuring macroeconomic stability of Bangladesh, evidently amid forex fall. Under the crash course cha...

Bangladesh Bank devalues taka to boost exports, remittances

Bangladesh Bank devalues taka to boost exports, remittances

-- 2022-01-12 17:26:07

The exchange rate of the Taka has depreciated by 25 per cent in the last 13 years against the US dollar, and fell to an unprecedented Tk 86 against the dollar at the start of the week, as the central...

Bangladesh sets $80 billion export target for FY24

Bangladesh sets $80 billion export target for FY24

-- 2022-01-12 16:57:50

The Cabinet Committee on Economic Affairs (CCEA) has approved the draft of ‘Export Policy 2021-2024’, setting the US$80 billion export target for FY2024. The approval came from this year'...

Energy: Vital utility for economic development and achieving SDGs

Energy: Vital utility for economic development and achieving SDGs

-- 2022-01-12 16:47:24

Bangladesh has an impressive track record of growth and poverty reduction. It has been among the fastest-growing economies in the world over the past decade, supported by a demographic dividend, stron...

WB projects 6.4pc GDP growth for Bangladesh in 2021-22 FY

WB projects 6.4pc GDP growth for Bangladesh in 2021-22 FY

-- 2022-01-12 16:39:14

The Bangladesh economy is expected to grow by 6.4 per cent in the current 2021-22 fiscal year (FY), while 6.9 per cent in 2022-23 fiscal, the World Bank projected. The World Bank made the projectio...

Gaping finance deficits bode bad for Bangladesh economy: Economists

Gaping finance deficits bode bad for Bangladesh economy: Economists

FE REPORT 2022-01-12 08:37:41

Some macroeconomic and fiscal challenges surface on the Bangladesh economic front, including the fast-growing balance-of-payments (BoP) deficit, economists at a review meet Tuesday cautioned. A gov...

World Bank cuts 2022 growth forecast to 4.1pc

World Bank cuts 2022 growth forecast to 4.1pc

-- 2022-01-11 22:45:30

The World Bank on Tuesday cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants th...

Dependency on borrowed money for implementing development projects not good: Zaidi Sattar

Dependency on borrowed money for implementing development projects not good: Zaidi Sattar

FE ONLINE REPORT 2022-01-11 19:21:58

A senior economist has suggested reducing over-dependence on borrowed money for implementing the development budget, terming it a bad sign for the economy.“All the annual development programmes...

Gloomy outlook for global recovery, World Economic Forum survey finds

Gloomy outlook for global recovery, World Economic Forum survey finds

-- 2022-01-11 16:53:28

Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with o...

Bangladesh to approach ADB for $940m in fresh aid

Bangladesh to approach ADB for $940m in fresh aid

FHM HUMAYAN KABIR 2022-01-11 08:54:09

The government is trying to get another big chunk of US$940 million in aid package from the Asian Development Bank (ADB) for purchasing Covid-19 shots to be used as booster doses, officials said on...

Inflation up, virus down as priorities in US

Inflation up, virus down as priorities in US

-- 2022-01-10 17:25:39

Heading into a critical midterm election year, the top political concerns of Americans are shifting in ways that suggest Democrats face considerable challenges to maintaining their control of Congress...