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The Financial Express

Search results for: economy

Commerce minister seeks support to LDCs for 12 more years

Commerce minister seeks support to LDCs for 12 more years

FE REPORT 2021-09-18 10:18:24

Commerce minister Tipu Munshi has urged all parties to support a 12-year extension proposal by the LDC Group in the World Trade Organisation (WTO). The extension will help the LDCs get preferential t...

Rediscovery of Bangladesh's economic priorities emphasised

Rediscovery of Bangladesh's economic priorities emphasised

FE REPORT 2021-09-18 08:38:37

Bangladesh can emulate Vietnam's development experiences by adapting their policies to its context in the changing paradigm, including increasing investment on innovation and technology, research and...

Harnessing man-made fibre potential vital for Bangladesh economy

Harnessing man-made fibre potential vital for Bangladesh economy

MIR MOSTAFIZUR RAHAMAN 2021-09-18 08:34:50

As Bangladesh struggles to keep its position as the second-largest apparel exporter of the world, the country is desperately in need of policy support to make a solid foothold on potential man-made fi...

Money for poor pours into wrong pockets, says WB

Money for poor pours into wrong pockets, says WB

FE REPORT 2021-09-17 09:45:33

Some 49-66 per cent of Bangladesh's social-safety-net-allowance-and food-support beneficiaries are not poor, says the World Bank, indicating porous delivery system for the state annuity. It is one of...

Saudi Arabia launches programme to develop human capabilities

Saudi Arabia launches programme to develop human capabilities

-- 2021-09-16 19:07:36

Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has launched the Human Capability Development Programme (HCDP), the Saudi Press Agency reported on Wednesday. It is one of the pr...

Facebook, Google, Amazon pay Tk 45.99m VAT in August

Facebook, Google, Amazon pay Tk 45.99m VAT in August

-- 2021-09-16 16:55:17

Popular social media Facebook, e-commerce giant Amazon, and American multinational technology company Google have deposited Tk 4,60,73,460 as VAT to the state coffer. These three giants paid the amou...

Reallocation of transfer to the poorest can bring down Bangladesh’s poverty to 12pc: WB report

Reallocation of transfer to the poorest can bring down Bangladesh’s poverty to 12pc: WB report

FE ONLINE DESK 2021-09-16 13:16:52

Social Protection Programmes remain central to Bangladesh’s sustainable development policy and are progressively benefitting the poorer households, says the World Bank. It adds that by improvin...

Non-banking financial institutions can reschedule loan or lease only thrice: BB notification

Non-banking financial institutions can reschedule loan or lease only thrice: BB notification

SIDDIQUE ISLAM 2021-09-16 08:27:50

The central bank now tightens noose around loose-run lending operations by non-banking financial institutions (NBFIs) limiting their loan or lease rescheduling to only thrice. Officials of the Bangla...

Bangladesh’s per capita foreign debt now Tk 24,890

Bangladesh’s per capita foreign debt now Tk 24,890

-- 2021-09-15 14:43:08

Finance Minister AHM Mustafa Kamal on Wednesday said the per capita foreign debt of Bangladesh citizens is now Tk 24,890. The minister revealed this information in parliament while replying to a tabl...

BB governor deplores lax governance in financial sector

BB governor deplores lax governance in financial sector

FE REPORT 2021-09-15 08:21:32

Bangladesh Bank (BB) governor Fazle Kabir on Tuesday termed the state of governance in the financial sector lax and underscored its improvement for the sake of sound economic health of the country. H...

BB to launch Tk 30b agriculture loan refinance scheme

BB to launch Tk 30b agriculture loan refinance scheme

-- 2021-09-14 20:56:46

Bangladesh Bank (BB) has decided to set up a Tk 30 billion refinance scheme for the agriculture sector to deal with the financial crisis caused by Covid-19 pandemic. "The Tk 30 billion fund, named "A...

Bangladesh seeks DFQF in GCC market

Bangladesh seeks DFQF in GCC market

FE ONLINE REPORT 2021-09-14 18:39:08

Bangladesh requested Oman to pursue the Gulf Cooperation Council (GCC) for DFQF market access for Bangladeshi products, foreign ministry said on Tuesday. The GCC is a coalition of six gulf countries...

Shortages of basic goods hobble US economy

Shortages of basic goods hobble US economy

-- 2021-09-14 13:12:25

For Lauren Rash, it’s the little things that have snarled production at her tent factory here, like the many shades of black Velcro. Her company, Diamond Brand, just launched a new line of high...

Italy's employment improves in second quarter

Italy's employment improves in second quarter

-- 2021-09-14 11:51:10

Nearly 340,000 new jobs were created in the second quarter (Q2) of this year, up 1.5 per cent from the first quarter, data released Monday by the National Statistics Institute (ISTAT) showed. The mai...

From zippers to glass -- Shortages of basic goods hobble US economy

From zippers to glass -- Shortages of basic goods hobble US economy

-- 2021-09-14 09:35:53

For Lauren Rash, it’s the little things that have snarled production at her tent factory here, like the many shades of black Velcro. Her company, Diamond Brand, just launched a new line of high...

Dhaka urges London to amend 'goods graduation' provision

Dhaka urges London to amend 'goods graduation' provision

REZAUL KARIM 2021-09-14 08:48:27

Facing LDC graduation drawbacks for the current crisis, Bangladesh urges the UK to simplify its Generalised System of Preferences (GSP) system through amending its 'goods graduation' provision. The g...

Extended warehouse facility for exporters

Extended warehouse facility for exporters

DOULOT AKTER MALA 2021-09-14 08:36:41

The National Board of Revenue (NBR) has amended the relevant rules granting the exporters an extended time to avail bonded warehouse facility, as imported raw materials get stuck following external ma...

Experts focus on redefining SMEs

Experts focus on redefining SMEs

FE REPORT 2021-09-13 08:52:23

Experts at a virtual dialogue on Sunday emphasised the need for redefining SMEs and startups in the proposed National Industrial Policy to ensure adequate financing - to have a vibrant private sector...

Bangladesh saw record budget deficit of Tk 1.87tn last fiscal year

Bangladesh saw record budget deficit of Tk 1.87tn last fiscal year

JASIM UDDIN HAROON 2021-09-12 10:09:43

Bangladesh's budget deficit amounted to a record Tk 1.87 trillion in the past financial year as stimulus packages and emergency health payouts bloated public spending against revenue shrinkage for p...

Bangladesh acquires 1.0pc stake of New Development Bank

Bangladesh acquires 1.0pc stake of New Development Bank

FHM HUMAYAN KABIR 2021-09-12 10:03:27

Bangladesh finally attains 1.0- per cent share in the Shanghai-based New Development Bank (NDB) as the country has been offered one of three fortunate shareholders after the five founding BRICS nati...

Green investments to be part of EU budget rules review

Green investments to be part of EU budget rules review

-- 2021-09-12 09:28:05

The possibility of exempting “green” investments from EU deficit calculations will form part of discussions when EU budget rules are revised, European Commission Vice President Valdis Domb...

Economy faces challenges of revenue shortfall and defaulting bank loans: Document

Economy faces challenges of revenue shortfall and defaulting bank loans: Document

-- 2021-09-11 17:38:18

Revenue deficit defaulting bank loans and worsening poverty situation due to COVID-19 are causing some problems in the country’s economy. According to a budgetary document, revenue deficit and...

IMF to launch virtual mission to Belarus to gather information about economic developments

IMF to launch virtual mission to Belarus to gather information about economic developments

-- 2021-09-11 10:47:52

The International Monetary Fund on Friday said it would begin a virtual mission to Belarus, amid concerns raised about the global lender's disbursement of new emergency reserves to the government of p...

Reduction in service charge for microfinance institutions uncertain

Reduction in service charge for microfinance institutions uncertain

ISMAIL HOSSAIN 2021-09-11 09:07:52

A government move to cut service charge for microcredit operations remains stuck in limbo, especially for non-cooperation from the sector. Seven months ago, the regulator initiated to slash the cur...

Ministries alerted to lax execution of development budget

Ministries alerted to lax execution of development budget

REZAUL KARIM 2021-09-11 09:00:45

Lax execution performance and under-par quality of works prompted the high-ups to ask all ministries and divisions to ensure proper supervision to check misuse of state funds in development projects...

Single-point mooring to save govt Tk 8.0b per annum

Single-point mooring to save govt Tk 8.0b per annum

M AZIZUR RAHMAN, Back from Moheshkhali 2021-09-11 08:39:54

The government would save Tk 8.0 billion annually by cutting the carrying cost of petroleum products from outer anchorage to fuel tankers once the SPM (single-point mooring) project is complete. An e...

BB softens terms, extends time for SME loan disbursement

BB softens terms, extends time for SME loan disbursement

FE REPORT 2021-09-10 10:56:09

The central bank of Bangladesh Thursday eased some rules related to implementation of the corona recovery stimulus package dedicated to cottage-micro-SME sector, as they had faced odds in accessing th...

Bangladesh eases rules for re-exporting products returned by foreign buyers

Bangladesh eases rules for re-exporting products returned by foreign buyers

DOULOT AKTER MALA 2021-09-10 10:52:13

Re-export of products returned by foreign buyers to Bangladesh has been simplified through relaxing restrictions in customs rules under a special order, now that a crunch time prevails over the world....

Business leaders, bankers explore solution to long-term lending for smaller units

Business leaders, bankers explore solution to long-term lending for smaller units

FE REPORT 2021-09-10 10:48:21

The country's business leaders and top bankers have stressed the need for a collective effort to find a solution to a long-term lending for industries, especially for the small and medium enterprises...

Chaos bleeding Libya's economy

Chaos bleeding Libya's economy

-- 2021-09-10 08:37:36

Libya should reunify its fragmented economic system and public funds if it stands any hope of ending a decade of violent division, however, strikes in direction of that purpose are making gradual prog...