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Search results for: economy

Ukraine exports over 1m tonnes of grain in April

Ukraine exports over 1m tonnes of grain in April

-- 2022-05-09 17:10:19

Ukraine has sown about 7.0 million hectares of spring crops so far this year, or 25-30 per cent less than in the corresponding period of 2021, and exported 1.090 million tonnes of grain in April, Ag...

‘US entrepreneurs keen to invest in smart Bangladesh'

‘US entrepreneurs keen to invest in smart Bangladesh'

-- 2022-05-09 16:43:04

Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman on Monday said the visiting delegation of the US Bangladesh Business Council has expressed their keenness to invest in '...

Lanka forex crunch: Bangladesh extends loan tenure

Lanka forex crunch: Bangladesh extends loan tenure

FE REPORT 2022-05-09 08:44:22

Bangladesh extends the tenure of a bilateral currency-swap agreement with Sri Lanka by a year in consideration of foreign-exchange crunch the cash-strapped island nation suffers. Officials Sunday sai...

Current-account deficit balloons to $14 billion

Current-account deficit balloons to $14 billion

SIDDIQUE ISLAM 2022-05-09 08:24:50

Bangladesh's current-account deficit hits an 'all-time high' at $14.07 billion as widening trade gap coupled with lower remittance receipts affects the macroeconomic balance, officials say. The count...

AIIB considers granting $100m in emergency support to Sri Lanka

AIIB considers granting $100m in emergency support to Sri Lanka

-- 2022-05-08 19:48:08

The China-backed Asian Infrastructure Investment Bank (AIIB) is considering granting $100 million in emergency support to Sri Lanka, the country's finance ministry said on Sunday. Sri Lanka has reque...

Imports jump 50pc in nine months of FY '22

Imports jump 50pc in nine months of FY '22

SIDDIQUE ISLAM 2022-05-08 08:29:31

Bangladesh's overall imports jumped by nearly 50 per cent in the first nine months of this fiscal year (FY '22) following higher imports of fuel oils and industrial raw materials, officials said. The...

Income Tax Wing has four months to meet remaining 50pc target

Income Tax Wing has four months to meet remaining 50pc target

-- 2022-05-07 18:10:36

The National Board of Revenue (NBR) has taken a tougher move to increase its collection from the Income Tax Wing by expanding its net and realising outstanding taxes, as in the first eight months of t...

Somalia seeks three-month extension of its IMF support programme

Somalia seeks three-month extension of its IMF support programme

-- 2022-05-07 16:07:30

Somalia's government has asked the International Monetary Fund (IMF) to extend its financial support by three months to August 17, the head of the IMF's country mission told news agency Reuters. The...

ADB to provide $500m more as budget support

ADB to provide $500m more as budget support

FHM HUMAYAN KABIR 2022-05-07 09:10:38

Bangladesh is likely to get another $500 million worth of budget support from the Asian Development Bank (ADB) within this calendar year as the government has recently completed negotiations in this...

India hikes repo rate by 40 bps to 4.4pc in first change after two years

India hikes repo rate by 40 bps to 4.4pc in first change after two years

-- 2022-05-06 19:19:58

India's central bank has raised the benchmark interest rate for the first time in two years in an attempt to rein in high consumer prices. The Reserve Bank of India (RBI) raised the repo rate - at wh...

FAO says food security remains a concern despite slight drop in prices

FAO says food security remains a concern despite slight drop in prices

-- 2022-05-06 16:37:16

World food prices eased slightly in April after hitting a record high in March, but global food security remained a concern because of the difficult market conditions, UN food agency said on Friday....

BoE flags risk of recession and 10 per cent inflation as it raises rates again

BoE flags risk of recession and 10 per cent inflation as it raises rates again

-- 2022-05-06 13:54:49

The Bank of England sent a stark warning that Britain risks a double-whammy of a recession and inflation above 10 per cent as it raised interest rates on Thursday to their highest since 2009, hiking b...

Eid raises April remittance inflow to $2.01b

Eid raises April remittance inflow to $2.01b

FE REPORT 2022-05-06 08:43:49

The flow of inward remittances increased further in April 2022 due to celebration of the Eid-ul-Fitr, the largest religious festival of the Muslims, officials said. The money, sent home by Banglade...

Remittance inflow in April reaches $2.09b

Remittance inflow in April reaches $2.09b

-- 2022-05-05 21:43:13

Bangladesh received $2.09 billion in remittances in April, the highest amount in a single month of the current fiscal year. Bangladesh Bank (BB) published the updated information on Thursday (May 05)...

NBR to speed up VAT collection to meet target

NBR to speed up VAT collection to meet target

-- 2022-05-05 17:41:38

The National Board of Revenue (NBR) has asked its field offices to expedite the Value Added Tax (VAT) collection as the collection from the pocket is only 56.15 per cent in the first eight months of t...

Sri Lankan tea pickers' dreams shattered by economic crisis

Sri Lankan tea pickers' dreams shattered by economic crisis

-- 2022-05-05 13:12:43

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back, Reuters reports. After a month of picki...

Global hunger may worsen without urgent action, says UN agency

Global hunger may worsen without urgent action, says UN agency

-- 2022-05-04 17:53:09

Conflict, extreme weather and economic shocks increased the number of people facing a severe lack of food by a fifth to 193 million last year and the Ukraine war means the outlook will worsen without...

Sri Lanka plans to replace 'unrealistic' budget

Sri Lanka plans to replace 'unrealistic' budget

-- 2022-05-04 14:36:41

Sri Lanka plans to replace its current "unrealistic" budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country's finance minister said on Wednesday....

ADB approves policy-based lending to $18b for 2022–24 

ADB approves policy-based lending to $18b for 2022–24 

-- 2022-05-03 22:26:17

The Asian Development Bank (ADB) has approved a ceiling of up to $18 billion in policy-based lending (PBL) between 2022 and 2024 and enhanced its crisis-response instruments to support its developing...

Australia hikes interest rates by surprisingly-large 25 basis points

Australia hikes interest rates by surprisingly-large 25 basis points

-- 2022-05-03 22:20:39

Australia's central bank on Tuesday raised its cash rate by a surprisingly-large 25 basis points to 0.35 per cent, the first hike in over a decade, and flagged more to come as it pulls down the curtai...

Sovereign debt set to soar to Tk 16.30 trillion in FY 2022-23  

Sovereign debt set to soar to Tk 16.30 trillion in FY 2022-23  

-- 2022-05-01 19:16:22

The government's debt, that is the country's sovereign debt, is projected to reach Tk 16,306.5 billion in the next 2022-23 fiscal, before growing to Tk 18,732.30 billion in 2023-24.  According t...

Modi vows to bolster ties with Europe amid Russia-Ukraine war 

Modi vows to bolster ties with Europe amid Russia-Ukraine war 

-- 2022-05-01 18:56:37

Indian Prime Minister Narendra Modi has vowed to bolster ties with India's European partners in the country's quest for "peace and prosperity", ahead of his tour of Germany, Denmark and France amid th...

Remittance inflow rises ahead of Eid, expected to exceed $2,0b

Remittance inflow rises ahead of Eid, expected to exceed $2,0b

-- 2022-04-30 20:21:01

Remittance inflow has increased ahead of Eid-ul-Fitr as Bangladesh received $1.82 billion as remittance on April 01- 27. Bangladesh Bank (BB) is expecting that the figure will exceed $2.0 billion as...

Foreign ministry fears further devaluation of taka

Foreign ministry fears further devaluation of taka

-- 2022-04-29 16:14:53

The foreign ministry has warned that the exchange rate of Bangladesh, taka, may plunge further amid its devaluation against the US dollar with no sign of a quick end to the Ukraine-Russia war. The US...

WB-IMF meeting praises Dhaka's success in economic recovery

WB-IMF meeting praises Dhaka's success in economic recovery

-- 2022-04-29 08:45:11

The Spring Meeting of the World Bank (WB)-International Monetary Fund (IMF), 2022 praised Bangladesh for successful implementation of its policy to face Covid-19 pandemic and economic recovery from it...

Kamal upbeat about 7.2pc growth this FY

Kamal upbeat about 7.2pc growth this FY

FE REPORT 2022-04-28 08:36:06

Finance Minister A H M Mustafa Kamal on Wednesday expressed optimism about achieving the government's 7.2-per cent economic-growth target in the current fiscal year (FY), 2021-22, although the economy...

Bangladesh Bank increases working capital credit limit

Bangladesh Bank increases working capital credit limit

-- 2022-04-27 21:41:35

Bangladesh Bank (BB) on Wednesday increased the working capital credit limit for maintaining the productivity and momentum of the country's overall economic activities, including imports and exports....

‘World may lose 4.0pc GDP by 2050 due to climate change'

‘World may lose 4.0pc GDP by 2050 due to climate change'

-- 2022-04-27 19:55:10

Climate change could see 4.0 per cent of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated. Rating...

Tk 2.46t ADP likely in next fiscal year

Tk 2.46t ADP likely in next fiscal year

FHM HUMAYAN KABIR 2022-04-27 09:04:13

The government is likely to frame an expansionary Tk 2.46-trillion annual development programme (ADP) for the next fiscal year (FY), 2022-23, to facilitate economic recovery from the COVID-19 pandemic...

Credit facility widens to augment import activity

Credit facility widens to augment import activity

FE REPORT 2022-04-27 08:53:11

Credit facility for post-import financing widens under a policy change aimed at augmenting overall import activity to give a fillip to Bangladesh's economic rebound. The central bank Tuesday revised...