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The Financial Express

Search results for: economy

India may see 0pc growth this fiscal year: Moody's

REUTERS May 08, 2020 15:45:41

The impact of the coronavirus outbreak will exacerbate the material slowdown in India’s economic growth, with the country expected to see 0 per cent expansion in the current fiscal year, analy...

Export earnings fall over 82pc in April

FE Online Report May 08, 2020 12:27:50

The country’s single month merchandise shipments in April this year witnessed 82.85 per cent negative growth to only US$520.01 million, the lowest during the current fiscal year, according to da...

Budget: MNOs suggest tax policy reform for telecom sector

FE Report May 08, 2020 09:29:59

The country's Mobile Network Operators (MNOs) have called upon the tax authority to bring in reforms in the tax policy for telecommunication industry to reap more benefit from them, according to the M...

Business relief package : Govt asks state banks to speed up process  

FE REPORT May 08, 2020 09:24:29

The ministry of finance on Thursday asked all state-owned banks to start procedures immediately for the implementation of relief packages the government offered to help businesses cushion the pandemic...

Bank of England sees worst slump in 300 years

REUTERS May 07, 2020 15:10:55

The Bank of England held off from further stimulus measures on Thursday but said it was ready to take more action to counter the country’s biggest economic slump in over 300 years, caused by the...

Remittance through bKash surges in April

FE Online Desk May 07, 2020 14:16:58

Despite a sluggish remittance inflow through regular channels amid Covid-19 outbreak, the amount of remittance sent by expatriate Bangladeshis through online or wallet based money transfer services h...

Philippine economy falls for first time in 22 years

-- May 07, 2020 14:16:21

The Philippines' gross domestic product (GDP) declined by 0.2 per cent in the first quarter of 2020, the first contraction since the fourth quarter of 1998, according to the Philippine Statistics Auth...

China April exports rise 3.5pc year-on-year

Reuters May 07, 2020 09:55:00

China’s exports rose 3.5 per cent in April from a year earlier, confounding market expectations for a sharp fall, as factories restarted production after the coronavirus pandemic, customs data s...

Uncertainty looms large over suspended interest

JASIM UDDIN HAROON May 07, 2020 09:32:18

Banking experts are divided over the latest central bank circular centring the suspension of interest on all types of loans for the months of April and May. Some tend to argue that the decision has c...

80pc low-income people see less earnings in one month

FE Report May 07, 2020 09:20:20

More than 80 per cent of rural and low-income population in the country experienced a decrease in earnings from February to March due to COVID-19 pandemic, according to a survey. Some 93 per cent of...

Disburse money from virus stimulus package quickly, FBCCI chief urges banks

FE Online Desk May 06, 2020 23:24:42

FBCCI on Wednesday urged the country’s banks to take quick steps to disburse the stimulus money declared by the government to stave off the impact of the coronavirus on the economy. Sheikh Fazl...

Azam J Chowdhury donates PPE to Bangladesh Central Jail

FE Online Desk May 06, 2020 21:57:11

Mr. Azam J Chowdhury, on behalf of Omera Gas One Ltd. and Omera Petroleum Ltd. has donated 1,000 Personal Protective Equipment (PPE) to the jail authorities to ensure the safety of the staff of Dhaka...

Economists rely on foreign currency reserve to offset COVID-19 impact

-- May 06, 2020 19:37:15

Leading economists have said a sound foreign currency reserve and debt ratio to GDP alongside debt repayment capability to largely help Bangladesh offset COVID-19 impacts on its economy. But they fea...

BRAC Bank supports 10,500 families

FE Online Desk May 06, 2020 18:14:22

BRAC Bank has collaborated with Bidyanondo Foundation for providing food to the community that have been affected worst by COVID-19. The bank has contributed Tk 5.0 million for this purpose.  Th...

Next budget to focus on agriculture, health, mega projects

-- May 06, 2020 12:37:11

The government is likely to go for a strategic 'recovery plan' in the next budget (2020-21) with a greater focus on agriculture and health sectors to revive the national economy hit hard by the corona...

Bank borrowing target raised

Siddique Islam May 06, 2020 09:23:00

The government has increased its bank borrowing target by more than 54 per cent to nearly Tk 730 billion to partly finance the budget deficit of the current fiscal year, officials said. The governmen...

Next ADP outlay flattening

FHM Humayan Kabir May 06, 2020 09:20:30

After 11 years, the outlay of the Annual Development Programme, or ADP, could almost flatten as revenue income fell in the aftermath of coronavirus outbreak, officials said on Tuesday. They said the...

Vivo topples Samsung in India

FE Online Desk May 05, 2020 22:28:02

Vivo has overtaken Samsung in smartphone sales. Vivo has achieved this milestone in the Indian market in the first three months of this year despite the impact of the coronavirus situation. Internati...

Export earnings decline by 85pc

-- May 05, 2020 18:50:56

The country’s export earnings witnessed a massive slump, recording an 85 per cent year-on-year drop in April as the coronavirus pandemic continues to roil the global economy. Readymade garments...

Banking hours extended by 30 minutes

-- May 05, 2020 17:13:14

The central bank has once again extended the banking hours for customers by 30 minutes to 2:30 pm as Bangladesh gradually starts to relax its lockdown rules ahead of the Eid-ul-Fitr holiday. Customer...

BB to release Tk 250b new notes before Eid

-- May 05, 2020 13:03:13

Bangladesh Bank (BB) aims to release new currency notes of Tk 250 billion in the market before the Eid. The central bank sources said the money would be released about a week before the Eid-ul-Fitr....

Indonesia's Q1 GDP growth hits 19-year low

-- May 05, 2020 11:42:19

Indonesia’s economic growth in the first quarter (Q1) slowed significantly more than expected to the weakest in nearly two decades, as the coronavirus pandemic brought business activity to a...

Philippine inflation eases to 2.2pc in April

-- May 05, 2020 11:10:53

The Philippines' headline inflation further slowed down to 2.2 per cent in April 2020, from 2.5 per cent in March 2020, the Philippine Statistics Authority (PSA) said on Tuesday. "This brings the yea...

ADB likely to endorse $500m budgetary aid

FHM Humayan Kabir May 05, 2020 09:26:55

The Asian Development Bank (ADB) board is likely to approve US$500 million worth of credit support for Bangladesh on Thursday (May 7) to help the latter meet its budget deficit during the current fina...

BB to facilitate loan/investment in CMSME sector

FE Online Desk May 04, 2020 22:14:21

Bangladesh Bank (BB) has directed banks/financial institutions to provide special loan/investment facility to revive cottage, micro, and Small and Medium Enterprises (SMEs) that were affected financia...

ECB survey sees relatively benign recession

REUTERS May 04, 2020 15:40:53

The euro zone economy will contract less than many of the more pessimistic projections suggest but the recovery may be slow and gradual, the European Central Bank’s Survey of Professional Foreca...

Pandemic slams Asia’s factories, activity hits financial-crisis lows

-- May 04, 2020 11:42:57

Asia’s factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze g...

Rich nations must make pandemic recovery plans green: Global investors

Reuters May 04, 2020 10:47:40

The world’s richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that togeth...

Next budget could eye 6.0pc GDP growth rate

SYFUL ISLAM May 04, 2020 09:53:32

The government is likely to set a 6.0 per cent GDP (gross domestic product) growth target for the fiscal year, 2020-21, finance ministry officials say. The rate is 2.2 per cent lower than the origina...

NBR to chase Tk 3.3tn tax target in next FY

DOULOT AKTER MALA May 04, 2020 09:37:10

The government has set a Tk 3.30-trillion revenue collection target for the National Board of Revenue (NBR) for the fiscal year (FY) 2021. The target is 1.35 per cent higher than that of the original...