Loading...

Search results for: economy

World Bank approves $500m to help Bangladesh improve disaster preparedness

World Bank approves $500m to help Bangladesh improve disaster preparedness

FE ONLINE REPORT 2022-07-16 13:32:36

The World Bank on Saturday approved a $500 million credit to help Bangladesh improve disaster preparedness against inland flooding in 14 flood-prone districts, benefiting over 1.25 million people.The...

Incentive waiver thru LDC graduation: Finance frames export strategy

Incentive waiver thru LDC graduation: Finance frames export strategy

REZAUL KARIM 2022-07-16 08:29:39

Lifting conditions regarding local value addition and gradual cut in HS Headings on apparel items are among measures envisaged as export booster after Bangladesh's LDC graduation that will banish cash...

Bangladesh loses $5-10b in leather export for environmental issues: Experts

Bangladesh loses $5-10b in leather export for environmental issues: Experts

-- 2022-07-15 17:37:23

Environmental issues are holding back the export of Bangladesh’s leather to Europe and the US and a potential earning of up to $10 billion a year, according to traders and exporters.  Indu...

China's economy brakes sharply in Q2, global risks darken outlook

China's economy brakes sharply in Q2, global risks darken outlook

-- 2022-07-15 17:32:00

China's economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a d...

China economy contracts amid zero-Covid policy

China economy contracts amid zero-Covid policy

BBC 2022-07-15 12:02:40

China's economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6 per cent i...

ADB, Singapore agree to promote investment and innovation across Asia and the Pacific

ADB, Singapore agree to promote investment and innovation across Asia and the Pacific

FE ONLINE REPORT 2022-07-15 11:36:34

Asian Development Bank (ADB) and Singapore have signed an agreement to promote investment and innovation across Asia and the Pacific. ADB President Masatsugu Asakawa and Singapore Deputy Prime Minist...

BB set to enhance forex flow by $1.0b

BB set to enhance forex flow by $1.0b

SIDDIQUE ISLAM 2022-07-15 08:56:50

The central bank is set to enhance the foreign-exchange flow by nearly $1.0 billion as part of regulatory measures to manage the ongoing volatility in the market, officials say. Around $365 million w...

Bangladesh Bank announces new measures to ease strain on forex reserves

Bangladesh Bank announces new measures to ease strain on forex reserves

-- 2022-07-14 22:26:59

Bangladesh Bank has made several policy changes in a bid to ease the pressure on the country's foreign exchange reserves amid a global economic crisis.As part of the import monitoring framework, banks...

Philippines court dismisses RCBC defamation case against Bangladesh Bank

Philippines court dismisses RCBC defamation case against Bangladesh Bank

-- 2022-07-14 15:22:07

A Philippines court has dismissed a defamation case filed by Rizal Commercial Banking Corp (RCBC) against Bangladesh Bank for linking it to the biggest cyber heist in the world. The Philippines court...

Manpower export hits new high

Manpower export hits new high

ARAFAT ARA 2022-07-14 10:16:35

Bangladesh's manpower export hit a new high in the past fiscal on post-pandemic rebound of the overseas job market as nearly a million found employment abroad following good demand for Bangladeshi wor...

Gasoline, food drive US consumer prices higher in June

Gasoline, food drive US consumer prices higher in June

-- 2022-07-13 20:34:28

US consumer prices accelerated in June as gasoline and food costs remained elevated, resulting in the largest annual increase in inflation in more than 40 years and cementing the case for the Federal...

ECB faces costly choices due to euro's tumble to parity against dollar

ECB faces costly choices due to euro's tumble to parity against dollar

-- 2022-07-13 19:26:41

The euro's tumble to parity against the dollar has pushed the European Central Bank back against a wall, leaving its policymakers with only painful and economically costly choices. Letting the curren...

South Korea takes aim at inflation with unprecedented half-point rate hike

South Korea takes aim at inflation with unprecedented half-point rate hike

-- 2022-07-13 14:27:19

South Korea's central bank raised its policy interest rate by an unprecedented half point on Wednesday, aiming to pull inflation from 24-year highs while balancing fear of a sharp economic downturn as...

Taming inflation to get top priority, says new central bank governor

Taming inflation to get top priority, says new central bank governor

-- 2022-07-12 22:18:42

Abdur Rouf Talukder, the new governor of Bangladesh Bank, has said containing inflation would be his top priority. The new governor also stressed the need for bringing back stability in the foreign e...

Forex reserves slip below $40b for first time in two years

Forex reserves slip below $40b for first time in two years

-- 2022-07-12 19:41:19

Bangladesh's foreign exchange reserves on Tuesday declined to US$39.77 billion, according to updated data from the central bank. This is the first time in two years that the reserve dropped below the...

Hong Kong needs to allow free travel to retain financial hub status, report says

Hong Kong needs to allow free travel to retain financial hub status, report says

REUTERS 2022-07-12 15:15:44

Hong Kong needs to allow financial sector workers to travel freely in order to maintain its global investment and banking hub status, an industry report has said, as the city is one of the world&rsquo...

Abdur Rouf Talukder joins Bangladesh Bank as governor

Abdur Rouf Talukder joins Bangladesh Bank as governor

-- 2022-07-12 14:38:03

Eight days after his predecessor left, former Senior Secretary Abdur Rouf Talukder has joined Bangladesh Bank as its twelfth governor. Abdur Rouf arrived at the central bank headquarters by car at...

China industry body cuts 2022 auto sales growth forecast to 3.0pc

China industry body cuts 2022 auto sales growth forecast to 3.0pc

-- 2022-07-11 15:26:11

SHANGHAI, July 11 (Reuters): China's automobile industry association downgraded its 2022 sales forecast on Monday as anti-pandemic measures weighed on the economy and its car market, the world's large...

Japan's machinery orders fall for first time in three months

Japan's machinery orders fall for first time in three months

-- 2022-07-11 10:29:28

TOKYO, July 11: Japan's core machinery orders slipped for the first time in three months in May, hurting hopes that a pickup in business spending would offset pressure on an economy struggling with su...

IMF hopes for resolution of Sri Lanka crisis to allow bailout talks

IMF hopes for resolution of Sri Lanka crisis to allow bailout talks

-- 2022-07-10 10:10:19

The International Monetary Fund (IMF) said it is hoping for a resolution to Sri Lanka's political turmoil that will allow a resumption of talks for a bailout package after a violent day of protests....

China's June factory inflation cools counter to global trends

China's June factory inflation cools counter to global trends

REUTERS 2022-07-09 16:06:26

China's factory-gate inflation cooled in June to the lowest in 15 months as the country continues to buck the global trend of accelerating prices. The producer price index (PPI) rose 6.1 per cent yea...

Inflation, forex rate the key MPS challenges

Inflation, forex rate the key MPS challenges

FE REPORT 2022-07-08 08:22:55

Keeping inflation within a tolerable level and stabilising foreign-exchange rate would be the key challenges of the monetary policy for the current fiscal year (FY 2022-23), economists said at a progr...

War-driven inflation pushed 71m people into poverty  

War-driven inflation pushed 71m people into poverty  

-- 2022-07-07 17:26:58

A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United...

Sri Lanka central bank raises rates to 21-year high

Sri Lanka central bank raises rates to 21-year high

-- 2022-07-07 13:50:52

The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domestic inflation and to contain any build-up of underlying demand, it said. Th...

Budget support: 2nd round of negotiation with IMF next week

Budget support: 2nd round of negotiation with IMF next week

FHM HUMAYAN KABIR 2022-07-07 08:42:04

The government will hold the second round of negotiations with the International Monetary Fund (IMF) next week to discuss terms and conditions of a proposed budgetary support, officials said. A missi...

Sri Lanka seeks credit support from Russia to import fuel

Sri Lanka seeks credit support from Russia to import fuel

-- 2022-07-06 19:22:57

Sri Lanka's president on Wednesday said he urged Russian leader Vladimir Putin to help his cash-strapped island nation import fuel as it faces its worst economic crisis in seven decades. Short of for...

Bangladesh Bank tightens belt on forex reserve 

Bangladesh Bank tightens belt on forex reserve 

-- 2022-07-06 17:51:42

The central bank has tightened spending on the foreign exchange reserve to judiciously meet the cost of importing essential commodities and fuel.  As part of this move, Bangladesh Bank has impos...

Bank of England tells lenders to brace for economic storm

Bank of England tells lenders to brace for economic storm

-- 2022-07-06 11:56:02

The Bank of England warned on Tuesday that the economic outlook for Britain and the world had darkened and told banks to ramp up capital buffers to ensure they can weather the storm, reports Reuters....

NBR upbeat on nearing tax target in FY22

NBR upbeat on nearing tax target in FY22

FE REPORT 2022-07-06 08:50:36

The kingpin of the revenue board pins high hopes on reaching closer to the target of tax-revenue collection in the just-concluded fiscal year. A target is given expecting high growth which may not be...

BD commercial debts swell to nearly $25b

BD commercial debts swell to nearly $25b

JASIM UDDIN HAROON 2022-07-06 08:38:44

Commercial borrowings under the private sector increased significantly by $6.3 billion to nearly $25.0 billion during the nine- month period of the immediate-past fiscal year. Of the commercial borro...