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The Financial Express

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Finance minister Kamal upbeat on high remittance inflow

Finance minister Kamal upbeat on high remittance inflow

FE REPORT 2021-08-12 09:54:03

Finance Minister AHM Mustafa Kamal expressed doubt over the patriotism of people who talks otherwise about higher remittance inflow and its continuation. "I am in doubt whether those, who oppose it...

Savings tools information under taxmen's watch

Savings tools information under taxmen's watch

DOULOT AKTER MALA 2021-08-12 08:29:27

All investors in government savings certificates are coming under scrutiny by taxmen to check any information holdback on their actual wealth. The tax authority has already got down to doing the rech...

Central bank dispels bankers' worry, sticks to gun

Central bank dispels bankers' worry, sticks to gun

Siddique Islam 2021-08-12 08:24:03

Scuttling all concerns of top bankers, the central bank said it wouldn't budge from its instructions on fixing the interest rates on fixed deposits commensurate with inflation so to protect depositors...

Bankers balk at minimum deposit interest rate

Bankers balk at minimum deposit interest rate

SIDDIQUE ISLAM 2021-08-11 08:26:35

A portion of fixed deposits rather than the entire amount in Bangladesh's banking sector is set to come under 'floor', or minimum interest rating, imposed by the central bank recently to protect dep...

Inflation slightly falls in July amid pandemic

Inflation slightly falls in July amid pandemic

-- 2021-08-10 18:42:17

The inflation rate slightly declined by 0.28 per cent on a point-point basis as it came down at 5.36 percentage point in July 2021. “The general point-to-point inflation rate came down to 5.36...

Central bank restarts withdrawing excess money

Central bank restarts withdrawing excess money

SIDDIQUE ISLAM 2021-08-10 09:10:49

A splurge of money from stimulus packages and private-investment stalemate prompted the central bank to restart mopping up excess liquidity from the market, as a measure of taming inflation. As the m...

Bangladesh announces discovery of 28th gas field

Bangladesh announces discovery of 28th gas field

-- 2021-08-09 21:00:12

State-run Bangladesh Petroleum Exploration Company (BAPEX) has discovered a new gas field in the Sylhet region of the country. State Minister for Power, Energy and Mineral Resources Nasrul Hamid form...

Consumption-GDP ratio declines slightly in FY21

Consumption-GDP ratio declines slightly in FY21

FE ONLINE REPORT 2021-08-09 19:13:04

In the midst of the pandemic, consumption spending at the current price stood at Tk 22.83 trillion in the last fiscal year (FY21), according to the provisional estimation of the Bangladesh Bureau of S...

Food aid recommended as prices rise

Food aid recommended as prices rise

FE REPORT 2021-08-09 09:55:39

Fiscal aid transfer and food support are immediately required for underprivileged and disadvantaged group of people, as food prices increased significantly in fiscal year (FY) 2020-21 against reduct...

VAT evasions galore despite exemptions

VAT evasions galore despite exemptions

FE REPORT 2021-08-09 09:46:46

Tax intelligence unearthed five times higher VAT evasions, year on year, in the last fiscal year (FY 2020-21) despite pandemic-time exemptions. According to an official statement released by the VAT...

Interest rate of deposits will not be less than inflation, central bank says

Interest rate of deposits will not be less than inflation, central bank says

-- 2021-08-08 20:39:14

The Bangladesh Bank has instructed all banks not to fix the interest rate of the deposits below the inflation rate. “Livelihood of depositors and a part of other depositors depends on the inter...

Release of GDP estimates restores rules of business, says Debapriya

Release of GDP estimates restores rules of business, says Debapriya

FE Online Report 2021-08-08 18:07:54

As the Bangladesh Bureau of Statistics (BBS) finally released the estimate of Gross Domestic Product (GDP) and its components in the last week, a leading economist appreciated the move. “The ne...

Petrobangla owes NBR Tk 213b VAT arrears

Petrobangla owes NBR Tk 213b VAT arrears

DOULOT AKTER MALA 2021-08-08 08:42:48

The state-owned Petrobangla has suspended the submission of monthly VAT (value-added tax) returns since December 2020. The oil and gas company owes Tk 213.18-billion VAT arrears to the National Boa...

Import duty on rice to be reduced to 15pc

Import duty on rice to be reduced to 15pc

FE REPORT 2021-08-08 08:28:29

The government has decided to cut the total import duty on rice in a bid to rein in prices of the staple in the local market. Following the instruction of the Prime Minister, the National Board of...

‘COVID-19 takes away 2.26m jobs, increases poverty by 9.0pc’

‘COVID-19 takes away 2.26m jobs, increases poverty by 9.0pc’

FE ONLINE REPORT 2021-08-07 21:50:44

Bangladesh’s economy has suffered a setback with 2.26 million jobs lost due to the COVID-19 pandemic, which has battered the world for over one a half years. Dhaka Chamber of Commerce & Ind...

Microloan disbursement rises sharply

Microloan disbursement rises sharply

FE REPORT 2021-08-07 10:44:13

Both the amount of loan disbursed by micro-finance institutions (MFIs) and the number of microcredit beneficiaries have risen significantly across the country. Some 746 MFIs have been registered with...

Industrial slump drags down GDP, agriculture saves economy

Industrial slump drags down GDP, agriculture saves economy

FHM HUMAYAN KABIR 2021-08-07 08:11:20

After more than a decade, Bangladesh's industrial growth collapsed in the fiscal year (FY) 2019-20 in line with the contraction of the country's total economic output during the year, analysts said Fr...

Bangladesh's growth put at 5.47pc last fiscal

Bangladesh's growth put at 5.47pc last fiscal

FHM HUMAYAN KABIR 2021-08-06 09:09:39

Bangladesh's GDP has plunged severely due to the Covid-19 in the fiscal year (FY) 2019-2020 as the country's gross domestic output expanded at the rate of 3.51 per cent, official data showed. The e...

Bangladesh Bank to mop up idle money

Bangladesh Bank to mop up idle money

SIDDIQUE ISLAM 2021-08-06 08:42:29

The central bank moves to mop up excess liquidity from the market as private credit squeeze for investment stagnation as against increased money supply bloated banking system. Economists also appre...

Minister Kamal bins CPD suggestion for checking income source of remiters

Minister Kamal bins CPD suggestion for checking income source of remiters

FE REPORT 2021-08-05 09:16:41

Finance Minister AHM Mustafa Kamal laughed off a think-tank's strong plea for crosschecking the source of income of remitters who send over US$5,000 at a time, as a robust remittance inflow amid the g...

Bangladesh loses Chinese investment momentum

Bangladesh loses Chinese investment momentum

FHM HUMAYAN KABIR 2021-08-05 08:36:50

Chinese investment bound for new destinations following US-China trade spat bypasses Bangladesh for unattractive bait, analysts say. Vietnam, Bangladesh's inveterate competitor on the global apparel...

Bangladesh's trade in services gap stands at $3b

Bangladesh's trade in services gap stands at $3b

FE Online Report 2021-08-04 11:52:36

The country’s deficit in trade in services with the rest of the world stood at $3.01 billion in the last fiscal year (FY21). This gap records 17 per cent rise over the previous fiscal year's tr...

Bangladesh's trade deficit snowballing as imports far outstrip exports

Bangladesh's trade deficit snowballing as imports far outstrip exports

SIDDIQUE ISLAM 2021-08-04 08:55:51

Trade deficit of Bangladesh widened by nearly 28 per cent in the just-concluded fiscal year for higher import-payment pressure on the economy amid lower receipts from external trade, officials said....

Health ministry worst performer among top 10 budget recipients

Health ministry worst performer among top 10 budget recipients

FE REPORT 2021-08-04 08:31:51

The health ministry could spend only 58 per cent of the ADP allocation in the last fiscal year (FY), which was the worst among top 10 recipients of the development budget, officials said on Tuesday....

CPD urges for new price index to make inflation estimate practical

CPD urges for new price index to make inflation estimate practical

FE ONLINE REPORT 2021-08-03 13:06:51

A leading think-tank has suggested developing a new consumption basket for making inflation estimate more realistic and thus set an appropriate monetary target. The Centre for Policy Dialogue (CPD) m...

IMF increases SDR allocation to US$650b

IMF increases SDR allocation to US$650b

fe 2021-08-03 08:59:25

The Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion) on Monday to boost g...

Remittance inflow into Bangladesh falls 28pc to $1.87b in July

Remittance inflow into Bangladesh falls 28pc to $1.87b in July

-- 2021-08-03 08:53:02

The flow of inward remittances dropped significantly in July, following the second wave of the ongoing Covid-19 pandemic, officials said. The inflow of remittances plunged by nearly 28 per cent or US...

Bangladesh Bank launches probe into stimulus loans

Bangladesh Bank launches probe into stimulus loans

SIDDIQUE ISLAM 2021-08-03 08:25:21

A probe gets underway to ascertain whether the Covid stimulus lending follows proper manner and the use of the money from the packages is done for the right purposes, as some faults were already found...

Yields of treasury bonds may decline further

Yields of treasury bonds may decline further

FE ONLINE REPORT 2021-08-02 20:14:11

After facing a big decline in the last fiscal year (FY21), yields of Bangladesh government’s long-term bonds are likely to drop further in the current year. World Government Bond, a virtual pla...

Asian factory activity hit by rising costs

Asian factory activity hit by rising costs

-- 2021-08-02 10:47:14

Asia's factories hit a rough patch in July as rising input costs and a new wave of coronavirus infections overshadowed solid global demand, highlighting the fragile nature of the region's recovery. M...