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Search results for: economy

Give extended support to upgrade cross-border link, Bangladesh tells SASEC conference

Give extended support to upgrade cross-border link, Bangladesh tells SASEC conference

FHM Humayan Kabir 2022-07-03 08:28:14

The government has sought extended support from the South Asia Sub-Regional Cooperation (SASEC), a regional funding window of the Asian Development Bank (ADB), for improving cross-border communication...

FDI, domestic deals: Time to tap M&A prospects

FDI, domestic deals: Time to tap M&A prospects

SAJIBUR RAHMAN 2022-07-03 08:24:14

Bangladesh sees poor M&A (merger and acquisition) transactions mainly in the absence of an enabling environment, thereby affecting foreign direct investment (FDI) and even domestic deals. Highl...

Record Tk 31.6m toll collected from Padma Bridge on day 6

Record Tk 31.6m toll collected from Padma Bridge on day 6

-- 2022-07-02 18:22:27

The government earned Tk 31.6 million in revenue through toll from the vehicles that crossed the Padma Bridge on Friday, the sixth day after the opening of the bridge to traffic. "TK 31.6 million was...

Prospect of joining RCEP: BD accession to pay dividend

Prospect of joining RCEP: BD accession to pay dividend

SYFUL ISLAM and REZAUL KARIM 2022-07-02 08:27:57

Bangladesh's export may grow by 17 per cent and gross domestic product (GDP) 0.26 per cent if a free-trade agreement (FTA) is signed with member-states of the emerging Regional Comprehensive Economic...

Sri Lankans cut number of meals as inflation rate crosses 50pc

Sri Lankans cut number of meals as inflation rate crosses 50pc

-- 2022-07-01 20:32:16

With an out of work husband, housewife Sujeewa Nelum Perera is all too familiar with the struggle of feeding a family of four in Sri Lanka and has been forced to cut down on the number of meals they c...

Sri Lanka offers special berthing facilities to Bangladeshi vessels

Sri Lanka offers special berthing facilities to Bangladeshi vessels

-- 2022-07-01 17:19:58

Sri Lanka's state-owned Jaya Container Terminal at Colombo Port has offered priority berthing facilities to Bangladeshi feeder vessels. Chairman of Sri Lanka Ports Authority (SLPA) Prasantha Jayamann...

Martin Raiser appointed vice president of World Bank for South Asia

Martin Raiser appointed vice president of World Bank for South Asia

-- 2022-07-01 15:48:43

The World Bank has appointed Martin Raiser as its vice president for the South Asia Region. He is an economist and development expert with almost two decades of experience at the World Bank Group, A...

Some IMF staff work 'unduly influenced' despite strong safeguards

Some IMF staff work 'unduly influenced' despite strong safeguards

-- 2022-07-01 13:11:21

Nearly 20 per cent of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data int...

Parliament passes Tk 6.78t budget for FY23

Parliament passes Tk 6.78t budget for FY23

-- 2022-06-30 22:57:56

With a global economic crisis wrought by a mix of the coronavirus pandemic and the Russia-Ukraine war in the backdrop rocking the economy, parliament has passed the Tk 6.78 trillion spending plan with...

Bangladesh calls for joint efforts to harness marine resources

Bangladesh calls for joint efforts to harness marine resources

-- 2022-06-30 19:45:55

Bangladesh has sought a joint blue economy approach to harness the untapped marine resources that can be used in tackling poverty, food insecurity, unemployment, energy crisis and ecological imbalance...

Romania keen to deepen ties with Bangladesh

Romania keen to deepen ties with Bangladesh

-- 2022-06-30 16:43:26

Romanian Ministry of Foreign Affairs has expressed the country's willingness to deepen ties with Bangladesh on bilateral and multilateral fronts. “As we celebrate 50 years of Romania-Bangladesh...

BB raises key policy rate again in a bid to tame inflation

BB raises key policy rate again in a bid to tame inflation

-- 2022-06-30 16:37:38

The central bank has raised its key interest rate, or repurchase agreement rate, by 50 basis points to 5.50 per cent as part of its efforts to control consumer prices. It is the second time Banglades...

Sri Lanka makes progress towards IMF credit

Sri Lanka makes progress towards IMF credit

-- 2022-06-30 15:50:08

The International Monetary Fund reported constructive talks with Sri Lankan authorities on Thursday, raising hopes it could soon grant preliminary approval for a credit facility to alleviate a crisis...

War in Ukraine raises global shipping costs, stifles trade: UNCTAD

War in Ukraine raises global shipping costs, stifles trade: UNCTAD

FE ONLINE REPORT 2022-06-30 14:45:26

The UN Conference on Trade and Development (UNCTAD) says the war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of...

Parliament passes Finance Bill

Parliament passes Finance Bill

FE REPORT 2022-06-30 08:35:35

Parliament passed Wednesday the Finance Bill 2022, with some much-debated provisions, to grant legal cover to a new national budget which critics say should have been more welfare-oriented in the cris...

Bangladesh holds talks with IMF for third day over budget support

Bangladesh holds talks with IMF for third day over budget support

FE ONLINE DESK 2022-06-29 22:48:59

The government officials held talks with the representatives of the International Monetary Fund (IMF) for the third day on Wednesday on borrowing funds from the Washington-based lender to narrow the b...

Bangladesh to get $500m WB loan for power supply modernisation

Bangladesh to get $500m WB loan for power supply modernisation

-- 2022-06-29 20:20:02

The government of Bangladesh has signed a loan agreement totaling US$500 million with the World Bank to modernise the rural electricity distribution system of Dhaka and Mymensingh. Economic Relations...

Millions risk malnutrition as wheat prices surge, warn FAO and OECD

Millions risk malnutrition as wheat prices surge, warn FAO and OECD

-- 2022-06-29 20:16:49

The war in Ukraine that has stalled its wheat exports will keep global prices high into the 2022/23 season, putting millions more people at risk of undernourishment, the United Nations' food agency an...

Uttara EPZ to get $8.5 million investment

Uttara EPZ to get $8.5 million investment

-- 2022-06-29 18:43:54

Bangladeshi company Texas Clothing Limited is going to establish a garments manufacturing industry in Uttara Export Processing Zone (UEPZ) with an investment of US$ 8.5 million. An agreement was sign...

BB to unveil monetary policy for FY23 Thursday

BB to unveil monetary policy for FY23 Thursday

-- 2022-06-29 18:28:19

Bangladesh Bank (BB) is set to announce its flagship monetary policy statement (MPS) on Thursday for fiscal year 2022-23 (FY23). BB Governor Fazle Kabir will unveil the MPS tomorrow (Thursday) at 3...

World Bank approves $1.03b to improve regional trade in Bangladesh, Nepal

World Bank approves $1.03b to improve regional trade in Bangladesh, Nepal

FE ONLINE REPORT 2022-06-29 17:13:36

The World Bank has approved $1.03 billion of financing to help improve regional trade in Bangladesh and Nepal by reducing trade and transport costs and transit time along the regional corridors. Th...

Hong Kong: Why business is not giving up on the Asian financial hub

Hong Kong: Why business is not giving up on the Asian financial hub

-- 2022-06-29 12:26:27

On a cloudy June day, the Jumbo Floating Restaurant was towed out of Hong Kong's Aberdeen harbour. The giant six-storey structure - in the shape of a Chinese imperial palace - crept past...

Export earnings cross $50 billion in FY22

Export earnings cross $50 billion in FY22

-- 2022-06-28 20:48:52

The country's exports crossed $50 billion for the first time ever in the outgoing fiscal, thanks to a record year for the readymade garments sector, according to an anonymous source at Export Promotio...

Japan to provide Tk 114.09b to Bangladesh for three projects

Japan to provide Tk 114.09b to Bangladesh for three projects

-- 2022-06-28 19:52:58

Japan will provide some 165,989 million Yen or approximately Tk 114.09 billion to Bangladesh for three projects. Out of the total amount, Japan will provide 1,65,861 million Yen or approximately Tk 1...

G7 leaders vow to hurt Russia economically

G7 leaders vow to hurt Russia economically

-- 2022-06-28 18:41:54

Leaders of the world’s wealthiest democracies struck a united stance to support Ukraine for “as long as it takes” as Russia’s invasion grinds on, and said they would explore fa...

Sri Lankan economy contracts 1.6pc in January to March quarter

Sri Lankan economy contracts 1.6pc in January to March quarter

-- 2022-06-28 18:34:20

Sri Lanka's economy contracted 1.6 per cent in the January to March quarter versus the same period a year earlier, data showed on Tuesday, and is expected to shrink even more in the current quarter am...

Global crop problems point to years of high food prices

Global crop problems point to years of high food prices

-- 2022-06-28 18:19:43

Eric Broten had planned to sow about 5,000 acres of corn this year on his farm in North Dakota, but persistent springtime rains limited him to just 3,500 in a state where a quarter or more of the plan...

Project to widen Cox's Bazar marine-drive gets ECNEC nod

Project to widen Cox's Bazar marine-drive gets ECNEC nod

-- 2022-06-28 17:02:58

The Executive Committee of the National Economic Council (ECNEC) has approved a project to widen Cox's Bazar marine-drive, involving Tk10.92 billion, aiming to developing tourism industry in the reg...

Monetary policy to battle inflation

Monetary policy to battle inflation

SIDDIQUE ISLAM 2022-06-28 08:12:51

Checking the wayward inflation without hampering the economic growth is the cornerstone in a new monetary policy the central bank is set to roll out, officials say. Outgoing Governor of the Banglades...

Country turns again to IMF after a decade

Country turns again to IMF after a decade

FHM HUMAYAN KABIR 2022-06-28 08:09:55

After the lapse of a decade, Bangladesh is likely to borrow funds from the International Monetary Fund (IMF) to narrow its budget deficit, seen as a bit high in current context. Ministry of Finance...