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Search results for: economy

India announces series of mergers of state-run banks

Reuters August 30, 2019 19:24:47

India announced a series of mergers involving 10 state-owned banks on Friday, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending...

India's economic growth seen slipping in Apr-Jun

Reuters August 30, 2019 13:25:01

India’s economy likely expanded at its weakest pace in more than five years in April-June, a Reuters poll showed, as consumer demand and private investment weakened at a time global trade fricti...

Joint efforts key to sustainable banking

FE Report August 30, 2019 10:26:24

A collaborative approach of industry-led initiatives and policy leadership is required to ensure sustainable financing in banking system, experts said on Thursday. The banks, in most cases, look less...

Govt to cut down on bank borrowing for September

Siddique Islam August 30, 2019 10:18:00

The government is set to reduce borrowing from the country's banking system for September, compared to the current month, to meet the budget deficit partly. The ministry of finance has set the bank b...

No fresh loans for defaulters until Oct 20: HC

FE Report August 30, 2019 10:05:05

The High Court on Thursday ordered the Bangladesh Bank and other banks not to allow the loan defaulters to take out fresh credit until October 20. They are the loan defaulters, who got the opportunit...

Malaysia's producer price index falls 2.2 pc in July

-- August 29, 2019 14:58:04

Malaysia's producer price index (PPI) for local production dropped 2.2 per cent year-on-year in July as most sectors posted negative growths, official data showed Thursday. Malaysian Statistics Depar...

Compound interest rate not feasible, says Kamal

FE Report August 29, 2019 10:43:33

Finance minister AHM Mustafa Kamal said on Wednesday the compound interest rate of bank loans is not feasible in modern times. He said the borrowers do not want to pay 14-16 per cent interest in bank...

Chinese gov't debt ratio rises in second quarter

-- August 28, 2019 14:55:21

The Chinese government's leverage ratio edged up in the second quarter (Q2) of 2019 amid efforts to support economic growth and improve weak links. According to NIFD report, the end-June debt ratio f...

Banks’ H1 deposit growth up slightly

Siddique Islam August 28, 2019 10:17:37

The overall deposit growth in the country's banking sector rose but slightly in the first-half (H1) of the current calendar year following a higher remittance inflow. Lower sales of national saving...

Bad loans taking toll on banks’ profit earning

FE Report August 28, 2019 10:03:53

Profitability of the country's banks has declined by around 17 per cent over the last 10 years, mainly due to growth in the volume of bad loans, according to a study report. The bulging non-performin...

RBI bonanza for India govt raises stimulus hopes

Reuters August 27, 2019 14:52:51

The Indian government will receive a windfall from the Reserve Bank of India (RBI) in the current financial year thanks to a much higher-than-expected dividend, allowing Prime Minister Narendra Modi&r...

Dhaka, Tokyo sign MoC on skilled workers recruitment

-- August 27, 2019 14:09:39

Dhaka and Tokyo on Tuesday signed a Memorandum of Cooperation (MoC) on accepting specified skilled workers by Japan from Bangladesh. The document was signed by the Expatriates’ Welfare and Over...

RBA offers $24.5b payout to government

-- August 27, 2019 10:45:33

India's central goverment has offered the country's federal government a payout of 24.5 billion US dollars that include $17.1 billion of surplus and $7.4 billion of excess contingency provision lying...

Climate change adversely affecting sustainability of construction sector: Experts

FE Online Report August 26, 2019 20:39:11

Growing climate change vulnerability especially rising temperature is adversely affecting the sustainability of Bangladesh’s construction and building industry, said experts. The observations c...

'Govt won't refinance state-owned commercial banks anymore'

-- August 25, 2019 20:07:56

The government will not refinance the state-owned commercial banks -- Sonali Bank Ltd, Rupali Bank Ltd, Agrani Bank Ltd and Janata Bank Ltd -- anymore to address their capital crunch. Finance Ministe...

Bangladesh gets $2.5m export order from Canada exhibition

-- August 24, 2019 20:23:56

Bangladesh readymade garment (RMG) industry has received around $2.50 million export order from the apparel sourcing exhibition, titled Apparel Textile Sourcing Canada (ATSC), held in Toronto of Canad...

Turkey aims to invest in Lebanon: Turkish FM

Xinhua August 24, 2019 18:48:06

Turkish Foreign Minister Mevlut Cavusoglu said in Beirut on Friday that Turkey is highly interested in investing in Lebanon, the National News Agency reported. "Turkish companies want to invest in th...

US new tariff threat a feeble move, shows options running out: analysts

Global Times August 24, 2019 18:27:21

The reckless tariff plans of the US that come after China's forced countermeasure tariffs on Friday showed that the US has gone too far and run out of options to save itself from the awkward situation...

Minister urges Brazil to slash 35pc import duty

-- August 23, 2019 20:20:09

Commerce Minister Tipu Munshi requested the Brazilian government to reduce the existing 35 per cent import duty, so that Bangladeshi readymade garments (RMG) and other items can enter its market. &ld...

Govt borrows Tk 230b from banks in 35 days

Siddique Islam August 22, 2019 10:57:56

The government borrowed nearly Tk 230 billion from the country’s banking system in the first 35 days of the current fiscal year (FY), 2019-20, to finance its budget deficit partly, officials sai...

Bankers hawk hedging as trade war hits China’s yuan

-- August 21, 2019 23:06:59

In a Shanghai room packed with small businesses ranging from furniture makers to garment exporters, Zhu Yuan, a currency expert at Bank of Communications, explains why Chinese companies need to build...

BIDA launches massive hunt for entrepreneurs

-- August 21, 2019 21:19:20

The Bangladesh Investment Development Authority  (BIDA) has launched an innovative campaign across the country to bring out potential entrepreneurs for fostering investments and generating jobs....

Wall Street flashes recession warning as trade war backfires on US economy

Xinhua August 21, 2019 17:29:30

The Wall Street has sent warning signs of a possible economic recession ahead as the trade war continues to take a toll on American businesses, farmers and the overall economy. The slowing economy co...

German employment up 1.0pc in Q2

Xinhua August 21, 2019 12:29:35

The number of people in employment in Germany grew year-on-year by 1.0 per cent in the second quarter of 2019 to a total of 45.2 million people, the German Federal Statistical Office (Destatis) announ...

Inflation inches up in July

FE Report August 21, 2019 10:07:09

The country's point-to-point inflation was recorded at 5.62 per cent in July, the first month of the current fiscal year (FY), 2019-20, showing a rising trend, according to official data. In July...

Zimbabwe to borrow $1.9b from G7 countries to repay its debt

Xinhua August 20, 2019 13:38:02

Zimbabwe plans to borrow 1.9 billion US dollars from the Group of 7 industrialised states to clear its debts to the African Development Bank (AfDB) and the World Bank, Finance Minister Mthuli Ncube ha...

$500m infrastructure investment fund likely

Syful Islam August 20, 2019 10:47:03

A US$500 million fund is likely to be created with contributions from the government, bourses, banks and financial institutions to invest in various infrastructures, officials said. The private s...

FY'19 trade gap narrows

Asjadul Kibria August 20, 2019 09:44:50

The country's merchandise trade deficit with the rest of the world narrowed in the past fiscal year (FY'19), despite slight rise in imports, the central bank said on Monday. The latest statistics sho...

China's Guangxi sees robust growth in foreign trade

Xinhua August 19, 2019 15:16:03

South China's Guangxi Zhuang Autonomous Region saw its foreign trade volume reach 264.14 billion yuan ($37.51 billion) in the first seven months of the year, up 23.8 per cent year on year, local autho...

Korea keen to invest in 10 PPP projects

Munima Sultana August 18, 2019 10:21:12

Korea has shown interest to invest in 10 public-private partnership (PPP) projects in the aviation, rail and power sectors under government-to-government arrangements. However, Bangladesh sought...