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EU leaders show first signs of compromise on stimulus plan

EU leaders show first signs of compromise on stimulus plan

REUTERS 2020-07-20 16:11:19

Signs emerged that leaders of northern European Union countries were willing to compromise on a 1.8 trillion euro ($2.0 trillion) coronavirus stimulus plan on Monday as talks in Brussels extended to a...

Pandemic forces people to spend savings for survival

Pandemic forces people to spend savings for survival

-- 2020-07-20 13:09:41

Farida Akhter, a homemaker living in Dhaka's Basabo, bought a 'Paribarik Sanchayapatra', a savings instrument, worth Tk 1.0 million two years ago. She used to draw Tk 8,640 a month in interest from it...

RMG export earnings in July 1-18 total $1.57b

RMG export earnings in July 1-18 total $1.57b

Monira Munni 2020-07-20 10:13:18

The country's ready-made garment (RMG) export earnings in the first 18 days of July stood at US$1.57 billion despite the Covid-19 pandemic, which local manufacturers consider as a good sign of revivin...

Covid-19: EU recovery summit remains deadlocked

Covid-19: EU recovery summit remains deadlocked

REUTERS 2020-07-20 10:05:43

EU leaders stood at an impasse on Monday after three days of haggling over a plan to revive economies throttled by the Covid-19 pandemic, but the chairman of their near-record-length summit urged them...

Power Division implements 94pc project work under ADP

Power Division implements 94pc project work under ADP

FE REPORT 2020-07-20 09:40:21

The Power Division under the Ministry of Power, Energy and Mineral Resources, or MPEMR, has implemented 94.40 per cent of project work under the Annual Development Programme, or ADP, in the last fis...

NBR plans to prod taxpayers

NBR plans to prod taxpayers

DOULOT AKTER MALA 2020-07-20 09:36:37

The National Board of Revenue (NBR) has revived its plan to identify barriers that constrain making the online income tax returns user-friendly. The income tax wing of the board has formed a high-pow...

Interest rate spread on decline

Interest rate spread on decline

SIDDIQUE ISLAM 2020-07-20 09:34:09

Interest rate spread in the country's banking system improved slightly in May as banks slashed interest rates on deposits more than on lending. The spread defined as the gap between lending and depos...

ADB reorganises projects to offset pandemic effect

ADB reorganises projects to offset pandemic effect

SYFUL ISLAM 2020-07-20 09:25:01

The Asian Development Bank or ADB has reshuffled the current year's projects, pushed back a few and included some fresh programmes with the objective of offsetting the impact of the pandemic on life...

Brazil's Bolsonaro says coronavirus restrictions kill economy

Brazil's Bolsonaro says coronavirus restrictions kill economy

REUTERS 2020-07-19 13:30:38

Brazilian President Jair Bolsonaro said on Saturday that lockdown measures used to curb the spread of the novel coronavirus “kill” and have “suffocated” the country’s eco...

Public health response remains key priority to protect economic activity: IMF

Public health response remains key priority to protect economic activity: IMF

FE ONLINE DESK 2020-07-19 12:16:32

As countries around the world struggle to strike a balance between lives, jobs and economies amid the continuing impact of the coronavirus pandemic, the International Monetary Fund (IMF)’s Manag...

$3.0b RMG payment uncertain

$3.0b RMG payment uncertain

FE REPORT 2020-07-19 09:38:55

The readymade garment industry might fail to realise or face deferred payment worth US$3.0 billion because of the Covid-19 pandemic, exporters say. Local clothing exporters faced $3.18 billion work o...

'Easier SME financing the key to recovery'

'Easier SME financing the key to recovery'

FE REPOR 2020-07-19 09:28:55

Easy access to finance for smaller enterprises is required for employment generation and economic recovery during and after the pandemic, experts said on Saturday. They also called for creating a pro...

Call for comprehensive emergency debt relief to combat COVID-19

Call for comprehensive emergency debt relief to combat COVID-19

-- 2020-07-18 19:26:30

Global businesses, workers and civil society organisations have called for comprehensive emergency debt relief to enable all countries in need to combat the COVID-19 pandemic. The G20 finance ministe...

China's economic rebound good news for Southeast Asian nations, says economist

China's economic rebound good news for Southeast Asian nations, says economist

Xinhua 2020-07-18 17:43:47

China's economic growth is likely to benefit Southeast Asian nations as the country commands a "lion's share" of regional exports, CNBC quoted an economist as saying on Thursday. Wellian Wiranto, an...

Lower budgetary allocation brings challenges to RHD

Lower budgetary allocation brings challenges to RHD

MUNIMA SULTANA 2020-07-18 12:44:40

With the road network expanding, lower budgetary allocation for road development and maintenance work in this fiscal year is likely to put the authorities concerned in a fix. Although budgetary alloc...

Rewriting forex rules gains pace

Rewriting forex rules gains pace

JASIM UDDIN HAROON 2020-07-18 10:07:44

The government has expedited the process of replacing more than 70-year-old foreign exchange regulations in order to attract investments while improving the ease of doing business. The foreign exch...

Adopt action plan for four SoCBs to meet capital shortfalls

Adopt action plan for four SoCBs to meet capital shortfalls

REZAUL KARIM 2020-07-18 09:39:08

Bangladesh Bank (BB) has suggested the government adopt time-bound action plan for four state-owned commercial banks (SoCBs) to meet their existing capital shortfalls and make them operationally sound...

Economic activities could lose steam: BB

Economic activities could lose steam: BB

SIDDIQUE ISLAM 2020-07-17 09:19:41

The central bank has predicted domestic economic activities are likely to lose momentum in near future as side-effects of the shutdowns and slower growth in foreign trade. "The ordered implementation...

ICT-driven PPP to fight Covid-19

ICT-driven PPP to fight Covid-19

FE Online Desk 2020-07-16 20:32:35

As COVID-19 cases surge throughout the nation, it is imperative for Bangladesh to utilize ICT in the healthcare system to stave off the challenges posed by a catastrophe. The ICT Division of the Gove...

Govt fixes $48.0b export target for current fiscal

Govt fixes $48.0b export target for current fiscal

-- 2020-07-16 18:18:09

Commerce Minister Tipu Munshi on Thursday said that the government has fixed $48.0 billion export target for the current fiscal year 2020-2021. “$41.0 billion has been fixed for goods export se...

China's GDP expands 3.2pc in second quarter

China's GDP expands 3.2pc in second quarter

Xinhua 2020-07-16 15:44:39

China's gross domestic product (GDP) expanded 3.2 per cent year on year in the second quarter (Q2) of 2020, data from the National Bureau of Statistics (NBS) showed Thursday. In the first half of thi...

IMF chief warns global economy 'not out of the woods'

IMF chief warns global economy 'not out of the woods'

REUTERS 2020-07-16 11:56:36

Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, the International...

Bangladesh a promising IT hub: Oracle exec

Bangladesh a promising IT hub: Oracle exec

FE REPORT 2020-07-16 10:18:06

Bangladesh is a promising market for the latest global innovations on information technology, Oracle ASEAN and SAGE regional managing director Cherian Varghese said. "Seeing the prospects here, we've...

Govt may set $41b goods export target

Govt may set $41b goods export target

FE REPORT 2020-07-16 09:21:49

The government is likely to set US$41.0 billion goods export target for this fiscal year (FY), 2020-21, predicting over 21 per cent growth, sources said. It is also going to fix additional $7.0 billi...

V-shaped rebound expected in China

V-shaped rebound expected in China

Global Times 2020-07-15 16:33:34

After turning in its first contraction on record in the first quarter amid the epidemic, China's economy is back on a growth track in the second quarter, market estimates collected by the Global Times...

US Fed warns of deep uncertainty amid resurgence in Covid-19 cases

US Fed warns of deep uncertainty amid resurgence in Covid-19 cases

-- 2020-07-15 13:13:06

Amid a recent resurgence in Covid-19 cases, a US Federal Reserve official has warned of "a thick fog of uncertainty," noting that the economic recovery is likely to face headwinds. "The recent resurg...

Vibrant bond market to help reduce liquidity crisis: BLFCA

Vibrant bond market to help reduce liquidity crisis: BLFCA

FE Online Desk 2020-07-15 12:44:34

Leaders of non-banks or non-bank financial institutions (NBFIs) Tuesday said they would come forward to revive the country's economy in the face of ongoing pandemic by working on liquidity crisis, enh...

Boom time for parcel service in pandemic

Boom time for parcel service in pandemic

ADNAN HOSSAIN BHUIYAN 2020-07-15 10:20:12

Courier and parcel service sector is doing a roaring trade even during the pandemic as consumers from home are ordering more products online than ever before. E-commerce sites, Facebook-based online...

Covid cripples ADP execution in FY'20

Covid cripples ADP execution in FY'20

FHM HUMAYAN KABIR 2020-07-15 09:41:20

Coronavirus pandemic has impinged on the project implementation rate as the government agencies executed only 80 per cent in the just-concluded fiscal year, official data shows. However, the public...

BD eyes Africa as ME job mkts shrink

BD eyes Africa as ME job mkts shrink

Mir Mostafizur Rahaman 2020-07-15 09:35:10

Bangladesh has now decided to resume efforts to explore job markets in Africa against the backdrop of mass deportation of foreign workers from the Middle-East (ME) countries. Earlier, a written propo...