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The Financial Express

Search results for: economy

ADB clears $1.78 billion in loans to improve transport, trade in Bangladesh

ADB clears $1.78 billion in loans to improve transport, trade in Bangladesh

-- 2021-08-27 14:46:33

The Asian Development Bank has approved a $1.78 billion multi-tranche financing facility (MFF) to improve mobility, road safety, and regional trade along the Dhaka–Sylhet trade corridor in Bangl...

Action plan agreed upon to speed up execution of ADB-funded projects

Action plan agreed upon to speed up execution of ADB-funded projects

FE REPORT 2021-08-27 08:55:37

The government and the Asian Development Bank (ADB), in a tripartite portfolio review meeting (TPRM) on Thursday, agreed on an action plan to further accelerate the implementation of the ADB-assiste...

Association, tax intel punish errant e-commerce companies

Association, tax intel punish errant e-commerce companies

DOULOT AKTER MALA 2021-08-27 08:43:49

A series of anomalies has finally prompted the e-commerce apex trade body to penalize their errant members, as some buyers complained being cheated and tax intelligence found VAT evasion by a few....

IMF dollop of SDR to ease Bangladesh funding unease

IMF dollop of SDR to ease Bangladesh funding unease

FE REPORT 2021-08-27 08:25:02

The allocation of Special Drawing Right (SDR), an official currency of the International Monetary Fund, will ease many challenging funding conditions for Bangladesh, some economists say about a $650...

South Korea becomes first major Asian economy to raise interest rates in pandemic-era

South Korea becomes first major Asian economy to raise interest rates in pandemic-era

-- 2021-08-26 14:45:59

South Korea has become the first major Asian economy to raise interest rates since the coronavirus pandemic began. The Bank of Korea increased its base rate of interest from a record low of 0...

Singapore factory output growth eases to 16.3pc in July

Singapore factory output growth eases to 16.3pc in July

-- 2021-08-26 13:52:29

Singapore's manufacturing output grew 16.3 per cent year on year in July, compared to the revised 28 per cent increase in the previous month, the Singapore Economic Development Board has said. Exclud...

Adoption of new tech crucial for food safety

Adoption of new tech crucial for food safety

FE REPORT 2021-08-26 08:56:05

Modernisation of supply chain and adoption of new technologies, including digital commerce and farm mechanisation, are vital for ensuring food safety and smooth distribution during different adverse s...

Banks to submit monthly VAT info of Google, Facebook, Amazon, Microsoft

Banks to submit monthly VAT info of Google, Facebook, Amazon, Microsoft

FE REPORT 2021-08-26 08:45:52

The central bank has asked scheduled banks to submit statements of value-added tax (VAT) deducted from services rendered by non-resident taxpayers such as Google, Facebook, Amazon, and Microsoft. T...

Bangladesh Bank starts money market probe to guard against asset bubble

Bangladesh Bank starts money market probe to guard against asset bubble

SIDDIQUE ISLAM 2021-08-26 08:34:41

The central bank starts investigation into entire money-market transactions along with exposures on the capital market to gauge liquidity movements in the banking system, following some already-dete...

Central bank urged not to allow direct payment into e-commerce accounts

Central bank urged not to allow direct payment into e-commerce accounts

FE REPORT 2021-08-26 08:29:37

The commerce ministry has asked the central bank to instruct commercial banks not to receive direct deposit of any payment into ‘own bank accounts’ of e-commerce platforms from the custome...

Grameen America: Microfinancing Having a Macroeconomic Impact - An Interview with Andrea Jung   

Grameen America: Microfinancing Having a Macroeconomic Impact - An Interview with Andrea Jung  

-- 2021-08-25 18:55:00

Andrea Jung is the President and CEO of Grameen America. She is the former Chairman and CEO of Avon Products, Inc., where she served as CEO from 1999 to 2012, and as Chairman from 2001 through 2012....

World Bank suspends financial support to Afghanistan after Taliban takeover

World Bank suspends financial support to Afghanistan after Taliban takeover

-- 2021-08-25 12:43:21

The World Bank has halted funding for projects in Afghanistan after the Taliban seized control of the country. It cited concerns over how the Taliban's takeover will impact "the country's develop...

Bank borrowing thru bills, bonds halted to address cash management concern

Bank borrowing thru bills, bonds halted to address cash management concern

SIDDIQUE ISLAM 2021-08-25 08:35:25

Cash management is cited as prime concern as the government suspends its bank borrowing through cancelling auctions of both treasury bills or T-bills and bonds until August 31 amid swelling public c...

Asia's economic recovery uncertain

Asia's economic recovery uncertain

-- 2021-08-24 17:21:20

Asia's robust economic recovery from last year's coronavirus low is losing momentum as a surge in COVID-19 cases sees shops empty again and factories close, dimming prospects for corporate profit grow...

$51 billion in foreign aid still remains stuck in the pipeline

$51 billion in foreign aid still remains stuck in the pipeline

-- 2021-08-24 12:28:21

A significant part of the foreign funds committed to Bangladesh by different countries and development partners for implementing development projects has got stuck in the pipeline, bdnews24.com report...

Pandemic threatens to derail Asia-Pacific's progress on global development goals, ADB says

Pandemic threatens to derail Asia-Pacific's progress on global development goals, ADB says

-- 2021-08-24 10:07:26

The coronavirus pandemic may have pushed as many as 80 million people in developing Asia into extreme poverty last year, threatening to derail progress on global goals to tackle poverty and hunger by...

Tk 2.0b from stimulus for SMEs released

Tk 2.0b from stimulus for SMEs released

FE REPORT 2021-08-24 08:45:11

The Finance Division has released another Tk 2.0 billion from the stimulus package for the SME Foundation for distribution after its successful disbursement from the package among Covid-hit entrepre...

Bangladesh won't give duty concession on third country invoicing

Bangladesh won't give duty concession on third country invoicing

DOULOT AKTER MALA 2021-08-24 08:37:12

Bangladesh will not allow concessionary duty benefit under the South Asian Free Trade Area (SAFTA) treaty in case of documentation completed in a non-member SAARC country. Officials said the restrict...

Bangladeshi Taka loses value against US dollar

Bangladeshi Taka loses value against US dollar

SIDDIQUE ISLAM 2021-08-24 08:23:26

The exchange rate of Bangladesh currency depreciated significantly against the US dollar in the last couple of days mainly as higher demand for the greenback for settling import-payment obligations...

Bangladesh Bank approves two more refinancing schemes

Bangladesh Bank approves two more refinancing schemes

FE REPORT 2021-08-24 08:17:21

Two refinancing schemes worth Tk 35 billion are being launched to help out Covid-hit agriculture and tourism sectors under government stimulus packages, officials said. Two proposals to this effect w...

$650b reserves distribution is 'shot in arm' for global economy, says IMF

$650b reserves distribution is 'shot in arm' for global economy, says IMF

-- 2021-08-23 20:43:58

The IMF will distribute about $650 billion in new Special Drawing Rights to its members on Monday, providing a "significant shot in the arm" for global efforts to combat the COVID-19 pandemic, Managin...

BB, BIDA run parallel to guide equity investment abroad

BB, BIDA run parallel to guide equity investment abroad

SYFUL ISLAM 2021-08-23 08:23:31

Two regulatory bodies run parallel preparing separate guidelines on equity investment abroad by Bangladeshi businesses, raising concern about possible clash of authority, sources said. Both the Bangl...

3.0m marginalised people taking services from agent banking outlets

3.0m marginalised people taking services from agent banking outlets

-- 2021-08-22 19:02:51

Agent banking has gained popularity among the people in remote areas of the country and, as of July this year, around 3 million marginalised people are taking banking services from the agent outlets....

FBCCI for widening scope of outward FDI

FBCCI for widening scope of outward FDI

FE ONLINE REPORT 2021-08-22 08:19:16

The country’s apex trade body has suggested that the government should extend the scope of investment abroad by Bangladeshi-origin firms and companies. In this connection, Federation of Banglad...

Taliban takeover pushes Afghanistan's economy closer to the brink

Taliban takeover pushes Afghanistan's economy closer to the brink

-- 2021-08-21 18:41:47

The Taliban sweeping to power in Afghanistan has thrust one of the world's poorest countries back into the limelight. The following charts depict Afghanistan's current economic situation: GLUM GROWT...

Bangladesh, Australia going to strike TIFA deal

Bangladesh, Australia going to strike TIFA deal

SYFUL ISLAM 2021-08-20 09:41:44

Bangladesh and Australia are set to sign Trade and Investment Framework Agreement (TIFA) aimed at bolstering bilateral trade by way of removing barriers and tapping potential, officials said. Both th...

Bangladeshi depositors get higher returns than they should, says Kamal

Bangladeshi depositors get higher returns than they should, says Kamal

FE REPORT 2021-08-20 08:30:51

Finance Minister AHM Mustafa Kamal claimed Thursday Bangladeshi depositors get higher returns than they should as compared to the gains in other countries, thus deflating a different view. "In other...

Banks see surge in non-performing loans despite policy backup

Banks see surge in non-performing loans despite policy backup

SIDDIQUE ISLAM 2021-08-20 08:07:01

Classified loans in the banking sector went ballooning in the first half (H1) of the current calendar year despite policy perks coming from the central bank to stem the rot. The volume of non-perform...

Global merchandise trade recovering strongly, says WTO

Global merchandise trade recovering strongly, says WTO

FE Online Report 2021-08-19 15:46:00

Global merchandise trade continues its robust recovery from the shock of the Covid-19 pandemic, according to the latest reading of the World Trade Organization (WTO)’s Goods Trade Barometer. &l...

Authorities find ways to pay 75pc of foreigners' salaries in home countries

Authorities find ways to pay 75pc of foreigners' salaries in home countries

DOULOT AKTER MALA 2021-08-19 09:57:26

The authorities concerned met virtually on Wednesday, devising ways for the foreign nationals working in the mega projects here so that they can receive 75 per cent of the pay and perks in their hom...