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Search results for: economy

Investment-GDP ratio increases slightly in FY20

Investment-GDP ratio increases slightly in FY20

FE Online Report 2020-08-12 12:30:54

Country’s total investment in terms of Gross Domestic Product (GDP) increased modestly in the last fiscal year (FY20) ended on June 30, 2020. The provisional estimate of GDP, released by Bangla...

Govt fortifying BIDA to be investment-friendly

Govt fortifying BIDA to be investment-friendly

JASIM UDDDIN HAROON and REZAUL KARIM 2020-08-12 09:48:15

The government is strengthening the Bangladesh Investment Development Authority (BIDA) to make it is more sophisticated and investment-friendly. As part of reinforcing the investment promotion agency...

Kamal happy with GDP growth, per capita income attained in FY20

Kamal happy with GDP growth, per capita income attained in FY20

-- 2020-08-11 21:57:09

Finance Minister AHM Mustafa Kamal has expressed his satisfaction at the 5.24 per cent GDP growth rate and $2,064 per capita income attained by the country in the last fiscal year (FY20). Kamal expre...

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

FE ONLINE REPORT 2020-08-11 19:54:22

Indian High Commissioner in Dhaka, Riva Ganguly Das on Tuesday, said the excellent state of India- Bangladesh bilateral relations and the recent connectivity initiatives taken by both the countries in...

GDP growth rate reaches 5.24pc in FY20: BBS

GDP growth rate reaches 5.24pc in FY20: BBS

-- 2020-08-11 17:49:12

The GDP growth rate of Bangladesh has reached 5.24 per cent in the last fiscal year (FY20) despite the impact of coronavirus pandemic while the per capita income increased to $2,064, according to the...

UK suffers biggest job losses since 2009

UK suffers biggest job losses since 2009

Reuters 2020-08-11 13:58:06

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s...

BD economy grew 5.24pc in FY20 amid pandemic

BD economy grew 5.24pc in FY20 amid pandemic

-- 2020-08-11 13:39:15

Bangladesh has reported 5.24 per cent GDP growth in FY 2019-20 with the coronavirus pandemic ravaging the economy for at least a third of the financial year. The size of the GDP stood past Tk 27.96 t...

Singapore narrows 2020 GDP growth forecast

Singapore narrows 2020 GDP growth forecast

-- 2020-08-11 11:41:17

Singapore's Ministry of Trade and Industry (MTI) has announced that it narrowed the gross domestic product (GDP) growth forecast for 2020 to "-7 to -5 per cent" from "-7 to -4 per cent." The ministry...

Move to devise ways of stemming ADP leakage

Move to devise ways of stemming ADP leakage

FHM HUMAYAN KABIR 2020-08-11 09:30:47

The government is going to tighten its belt by reining in inflated costs and irregularities in development projects, officials said on Monday. The planning minister MA Mannan will sit with all secret...

Corona brings chance for digitalisation   

Corona brings chance for digitalisation  

FE REPORT 2020-08-11 09:26:46

Speakers at a dialogue on Monday said Covid-19 crisis puts unprecedented strains on markets, governments, businesses and individuals, but simultaneously it has brought opportunities for digitalisation...

Interest rate spread drops slightly to 2.89pc in June

Interest rate spread drops slightly to 2.89pc in June

Siddique Islam 2020-08-11 09:23:52

Interest rate spread in the country's banking system fell slightly in June, as banks slashed interest rates on lending more than on deposit. The weighted average spread between lending and deposit...

Huawei starts Seeds for the Future 2020 to develop ICT talent in BD

Huawei starts Seeds for the Future 2020 to develop ICT talent in BD

FE Online Desk 2020-08-10 23:59:58

Huawei Technologies (Bangladesh) Limited has inaugurated its annual program of ‘Seeds for the Future 2020 in Bangladesh’. The inauguration ceremony was held virtually on August 10 and at...

90pc branches of banks fully online now

90pc branches of banks fully online now

FE Online Report 2020-08-10 17:17:40

At least 90 per cent branches of the country’s commercial banks are now fully online, according to the latest statistics of the central bank. It showed that the total number of branches of 59 s...

ADB, UNDP sign deal to boost disaster recovery in Asia Pacific

ADB, UNDP sign deal to boost disaster recovery in Asia Pacific

-- 2020-08-10 17:00:49

The Asian Development Bank (ADB) and United Nations Development Programme (UNDP) have signed an agreement to strengthen disaster recovery capacity in selected countries across Asia and the Pacific. T...

India to promote manufacturing of selected products to boost market share

India to promote manufacturing of selected products to boost market share

Reuters 2020-08-10 15:19:46

India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market, as part of efforts to reduce imports and push...

Vietnam's wood, woodwork export up in seven months

Vietnam's wood, woodwork export up in seven months

-- 2020-08-10 13:35:00

Vietnam exported nearly 6.1 billion US dollars of wood and wood-based products in the first seven months of this year, up 6.2 per cent against the same period last year, according to the Vietnam Admin...

Call for bigger budget for health sector

Call for bigger budget for health sector

FE REPORT 2020-08-10 09:54:18

Experts on Sunday sought increased budget allocation for health sector, strict implementation of hygiene guidelines and adaptation with the changed lifestyle in the wake of virus pandemic. They highl...

New forex law: Investors may get timely services

New forex law: Investors may get timely services

FE REPORT 2020-08-10 09:34:19

The government is mulling over incorporating time-bound services into the proposed foreign exchange law to attract potential overseas investors, said officials at the financial institutions division....

63.0pc of private foreign debt short-term

63.0pc of private foreign debt short-term

FE Online Report 2020-08-09 21:13:21

Around 63.0 per cent of the foreign borrowing of the country’s private sector is short-term in nature, according to the statistics released by the central bank. It showed that the outstanding p...

BB asks banks to open deposit accounts for NRBs

BB asks banks to open deposit accounts for NRBs

FE ONLINE REPORT 2020-08-09 16:31:43

The central bank has asked scheduled banks to introduce deposit accounts for non-resident Bangladeshis (NRBs) to encourage these people, who are working aboard, in saving their hard-earned money in Ba...

BD seeks $2.5b as budget support, project aid from WB for FY'21

BD seeks $2.5b as budget support, project aid from WB for FY'21

FHM HUMAYAN KABIR 2020-08-09 10:11:46

Bangladesh has sought a fund of US$ 2.5 billion from the World Bank (WB) to finance 15 different projects and programmes in the current fiscal year (FY 2020-21), officials said on Saturday. "We hav...

'Banks fully capable of executing stimulus packages'

'Banks fully capable of executing stimulus packages'

SIDDIQUE ISLAM 2020-08-09 09:47:50

The banking sector is fully capable of implementing the government-declared financial stimulus packages despite its own pre-Covid-19 challenges, a top leader of the banking community has said. "Ban...

Govt relooks at labour market to tap potentials with skilled workers

Govt relooks at labour market to tap potentials with skilled workers

-- 2020-08-08 20:46:58

The government considers enhancing the skills of the country’s capable population and their productivity to fulfill the demand of the labour markets, both at home and abroad, aiming to face the...

Covid erodes country’s business confidence severely

Covid erodes country’s business confidence severely

FE Online Report 2020-08-08 19:20:31

The overall status of business in the country in the last quarter (April-June, 2020) of the fiscal year 2019-2020 (FY20) was extremely poor due to negative impact of deadly coronavirus. While all the...

Italy's foreign trade continues recovery in June

Italy's foreign trade continues recovery in June

-- 2020-08-08 13:55:50

Italy's foreign trade picked up in June compared to May, with imports rising by 16.1 per cent and exports by 14.4 per cent, the National Statistics Institute (ISTAT) has said in a report. The month-o...

BD gets $1.0b China loan to improve power grid

BD gets $1.0b China loan to improve power grid

MIR MOSTAFIZUR RAHAMAN 2020-08-08 09:38:31

Bangladesh has got confirmation of another US$970 million loan from China to be used for strengthening its electricity grid. This loan will be provided to the state-run Power grid Company of Banglade...

Govt to form special fund for Delta Plan 2100

Govt to form special fund for Delta Plan 2100

-- 2020-08-07 17:17:30

The government is going to form a special fund, 'Bangladesh Delta Fund', for implementing its long-term integrated master plan, ‘Delta Plan 2100’, to harness the huge potentials of Banglad...

Beirut explosions aggravate Lebanon's economic woes

Beirut explosions aggravate Lebanon's economic woes

-- 2020-08-07 12:39:56

The seismic blasts which rocked the Lebanese capital of Beirut have delivered another calamitous blow to a country already in the throes of an unprecedented economic crisis. Two huge explosions rocke...

RMG exports to major markets plunge in H1

RMG exports to major markets plunge in H1

MONIRA MUNNI 2020-08-07 09:37:20

The country's apparel exports to its major destinations, including the US, Germany, Italy and the UK, witnessed a drastic fall during the first half (H1) of current calendar year, mainly due to the on...

BCC suggests steps against anti-competitive activities

BCC suggests steps against anti-competitive activities

FE Report 2020-08-07 09:37:17

Bangladesh Competition Commission (BCC) has suggested taking steps against any possible anti-competitive activities for ensuring competitive allocation and spending of the government-announced stimu...