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The Financial Express

Search results for: economy

Implementation of stimulus package for industries: 14 banks sign deal with BB

FE REPORT May 19, 2020 09:39:25

Fourteen banks on Monday signed separate agreements with the Bangladesh Bank to disburse Tk 150 billion in loans as part of refinancing facilities to support implementation of the stimulus package f...

BD economy to experience slowdown in next 1.5 yrs: Moody's

SIDDIQUE ISLAM May 19, 2020 09:33:04

Global ratings agency Moody's has predicted the economic activity in Bangladesh will decelerate sharply over the next 18 months in the aftermath of COVID-19 outbreak. "…. domestic activity res...

FDI drops by 20pc last year

FE Online Report May 18, 2020 21:46:09

Net inflow of foreign direct investment (FDI) in Bangladesh dropped by 20.45 per cent in the last calendar year (2019), according to the latest estimate of the central bank. The estimate, although pr...

COVID-19 threatens to derail retail boom for Indian lenders

Reuters May 18, 2020 11:40:47

Indian lenders are facing a jump in defaults on credit card dues, personal and vehicle loans due to the coronavirus, forcing them to set aside hundreds of millions of dollars and take steps like askin...

Garment exporters get fresh facility

SIDDIQUE ISLAM May 18, 2020 11:31:48

The central bank has enhanced the loan ceiling for the members of textiles and clothing exporters under its export development fund or EDF scheme to help boost proceeds from overseas sales, officials...

Japan slips into recession as pandemic wreaks havoc

-- May 18, 2020 10:27:20

Japan’s economy slipped into recession for the first time in 4-1/2 years, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers....

JS body for gearing up economic diplomacy

FE REPORT May 18, 2020 10:24:29

The parliamentary standing committee on the foreign affairs ministry on Sunday recommended gearing up economic diplomacy to address the post-Covid economic challenges. This was the first meeting of a...

May VAT receipts slump on Covid-19

DOULOT AKTER MALA May 18, 2020 09:26:12

The collection of valued added tax or VAT against returns slipped by over 38 per cent in May, although the number of filing rose by 11,000 month on month. Despite lockdown, the return submission has...

Govt cash gift for Corona-affected family disbursed through Rupali Bank SureCash [

FE Online Desk May 18, 2020 00:44:10

The government is providing direct cash assistance to 5.0 million Corona-affected families. Recently Prime Minister Sheikh Hasina announced this Eid gift of BDT 2,500 per family via mobile banking to...

BIBM holds workshop on economic, monetary implications of COVID-19

-- May 16, 2020 23:38:54

A half-day online workshop on preparedness of banks to mitigate effects of COVID-19 on economic, monetary and financial sector was held on Saturday at the Bangladesh Institute of Bank Management (BIBM...

Govt seeks $4.5 billion in foreign loans to cover budget deficit

-- May 16, 2020 12:15:04

With the global economy battered by the coronavirus pandemic, Bangladesh has sought record $4.5 billion in loans from foreign donors to cover the deficit in the national budget for fiscal year 2020-21...

South Asian economies may lose up to $218 billion

FE Report May 16, 2020 09:50:02

The South Asian countries, including Bangladesh, might lose US$142 billion to $218 billion due to impact of the deadly Coronavirus pandemic on their economies, the Asian Development Bank (ADB) said on...

SoEs' funds: Govt eyes transfer of Tk 150b by June

Mir Mostafizur Rahaman May 16, 2020 09:27:25

The government plans to transfer Tk 150 billion from the surplus money of the state-owned enterprises or SoEs to the government exchequer during fiscal year 2019-20, finance ministry officials say....

Tk 2.05tn ADP awaits approval on Tuesday

FHM HUMAYAN KABIR May 16, 2020 09:19:13

The government is set to approve a Tk 2.05-trillion Annual Development Programme (ADP) at the National Economic Council (NEC) meeting scheduled for Tuesday, officials said on Friday. Amid the coronav...

Funding relief packages: BB opts for massive QE

Jasim Uddin Haroon May 16, 2020 09:16:24

The central bank is purchasing securities without any check to funnel funds into banks, which are supposed to finance economic rescue packages. The quantitative easing or QE is a form of unconvention...

Summit Gazipur II receives $140m from Clifford Capital and Japan’s SMBC

FE Online Desk May 15, 2020 22:23:02

Summit has closed USD 140 million (equivalent to BDT 11.90 billion) as long-term financing from Clifford Capital Pte. Ltd. (“Clifford Capital”) of Singapore and Sumitomo Mitsui Bankin...

COVID-19 could cost global economy $8.8t: ADB

-- May 15, 2020 16:05:06

The coronavirus pandemic could cost the global economy between $5.8 trillion and $8.8 trillion (£4.7 trillion-£7.1 trillion), according to Asian Development Bank (ADB). That's more than d...

Near-term US economic outlook darkens

Reuters May 15, 2020 15:50:18

An already-dismal near-term US economic outlook has darkened further in the latest Reuters poll of economists, and while a recovery is still forecast for the second half, the economy won’t come...

Want a fast recovery? Invest in tests, Fed's Kaplan says

REUTERS May 15, 2020 13:11:16

Even with tens of millions of jobs lost and a historic decline in output projected this quarter, the US economy could still pull off a relatively quick recovery, Dallas Federal Reserve President Rober...

Dhaka, Ottawa discuss ways to absorb pandemic shock on economy

FE Report May 15, 2020 09:18:22

Canada has proposed forming an international alliance to address the challenge of the coronavirus pandemic. It has also urged Bangladesh to join the proposed alliance to soften the coronavirus impact...

China Harbour provides foodstuffs for 2000 families in Madaripur  

FE Online Desk May 14, 2020 22:02:18

In the context of ongoing economic hardship caused by COVID-19 pandemic China Harbour Engineering Company Ltd. (CHEC), an international company of China has donated foodstuffs for two thousand distr...

Vivo in the top five smartphone brands

FE Online Desk May 14, 2020 15:10:10

As COVID-19 has hit the world economy, the sales of many business organizations have been decreased and plenty of companies have stopped production. Though global smartphone sales fell down, the Chin...

Bangladesh’s stimulus package tops Tk 1.0 trillion

-- May 14, 2020 14:06:43

The government has announced an additional Tk 20 billion stimulus package to assist migrant workers, unemployed youth and rural population during the economic crisis caused by the coronavirus pandemic...

Global economy to shrink by 3.2pc: UN report

UNB May 14, 2020 11:23:23

The world economy has been projected to shrink by 3.2 per cent wiping out nearly four years of output gains as economic activities around the world comes to grinding halt against the backdrop of the...

SCB's scheme for health workers: Reinsurers loath to take risk

SYFUL ISLAM and REZAUL KARIM May 14, 2020 09:25:30

With the number of both infections and fatalities on the rise, none of global reinsurers has agreed to partner with Sadharan Bima Corporation (SBC) to launch an insurance scheme for physicians and oth...

BB introduces special repo for one year

-- May 13, 2020 21:20:15

Bangladesh Bank (BB) has introduced a special repurchase agreement (repo) for one year to help the banks and non-bank financial institutions (NBFIs) in providing loans under the government-declared st...

BB relaxes conditions for remittance incentives

-- May 13, 2020 17:27:21

Bangladesh Bank has relaxed the conditions for incentives on the money sent by expatriate Bangladeshis to lift up the sinking flow of remittances amid the coronavirus pandemic. As per the relaxed con...

MetLife Bangladesh announces unique COVID-19 support programme for customers

FE Online Desk May 13, 2020 17:06:45

MetLife Bangladesh on Wednesday announced a new initiative in response to the COVID-19 situation in Bangladesh. The newly-launched programme titled “Sathe Achi – MetLife COVID-19 Customer...

Multi-cloud platforms offer key new data capabilities and differentiation

FE Online Desk May 13, 2020 15:46:54

A new study from Forrester Consulting, commissioned by Oracle*, emphasises the essential role of multi-hybrid cloud platforms to collate the mass of information that enables analysis of insights and...

UK GDP shrinks by record 5.8 pc in March, harder COVID hit ahead

-- May 13, 2020 15:41:03

Britain’s economy shrank by a record 5.8 per cent in March as the coronavirus crisis escalated and the government shut down much of the country, according to official data that point towards an...