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Search results for: economy

Finance minister eyes 25pc growth in remittance inflow in FY20

-- November 27, 2019 18:40:25

Finance Minister AHM Mustafa Kamal on Wednesday said remittance inflow is likely to increase by at least 25 per cent in the fiscal 2019-20 (FY20) due to a number of government steps. “Remittanc...

Fed official expects US GDP growth to "be weak" in Q4

-- November 27, 2019 13:34:18

A senior Federal Reserve official said Tuesday that he expected US economic growth to "be weak" in the fourth quarter of the year as businesses cut inventories due to trade uncertainty. "One of the r...

Myanmar earns over $2.28b from export in FY 2019-20

-- November 27, 2019 13:11:48

Myanmar earned over $2.28 billion from export to foreign countries as of Nov. 15 in fiscal year (FY) 2019-2020 which started in October, according to figures from the Commerce Ministry on Wednesday....

BIDA chief woos more investments from UK

FE Online Desk November 27, 2019 11:14:39

BIDA Executive Chairman Md. Sirazul Islam has urged more investments from UK, one of the biggest contributors of FDI to Bangladesh. He was attending a breakfast meeting co-hosted by the British Busin...

NBR to receive tax returns until Dec 01

FE Report November 27, 2019 10:55:37

The National Board of Revenue (NBR) will accept income tax return for the tax year 2019-20 from individual taxpayers until December 1 (Sunday). The deadline (November 30) has been extended, as it f...

Govt mulls AMC to cut NPLs

FE Report November 27, 2019 10:07:29

The government is actively considering formation of an asset management company (AMC) to resolve a rise in non-performing loans (NPLs) in banks and financial institutions. Financial institutions divi...

Bangladesh willing to join US led Indo-Pacific initiative

FE Online Report November 26, 2019 18:48:56

Bangladesh will join the US led Indo-Pacific initiative if it becomes an economic alliance, Foreign Minister Dr AK Abdul Momen said on Tuesday. Bangladesh feels that mega regional arrangements like t...

Annual Banking Confce begins Wednesday

FE Online Desk November 26, 2019 13:40:04

A two-day Annual Banking Conference organized by Bangladesh Institute of Bank Management (BIBM) begins at BIBM from Wednesday. The BIBM Governing Body Chairman and Bangladesh Bank Governor Fazle Kabi...

Sri Lanka's Central Bank governor resigns

-- November 26, 2019 13:36:49

Sri Lanka's Central Bank Chief Indrajit Coomaraswamy has tendered his resignation and will step down from the post next month, local media reports said on Tuesday. Coomaraswamy tendered his resignati...

Denmark to provide $11m to strengthen EU action in Africa

-- November 26, 2019 13:29:39

The Danish government is to provide 75 million Danish Krones (around 11 million US dollars) to strengthen European Union (EU) action in Africa, said a press release. According to the statement, relea...

China, US hold talks on 'phase one' trade deal

Xinhua November 26, 2019 12:52:48

Chinese Vice Premier Liu He, chief of the Chinese side of the China-US comprehensive economic dialogue, held a phone conversation with US Trade Representative Robert Lighthizer and Treasury Secretary...

ADB to provide $161m in project loans

FE REPORT November 26, 2019 11:20:35

Asian Development Bank (ADB) has committed to provide US$161 million for developing Bangladesh's technical manpower and urban sector facilities. The Economic Relations Division (ERD) signed three loa...

‘Bangladesh has huge competitive edge in manufacturing sector'

FE REPORT November 26, 2019 11:13:58

President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sheikh Fazle Fahim said the country has a huge competitive edge in the manufacturing sector. "Our competitiveness i...

ADB cautions against 13 problem projects

FE REPORT November 26, 2019 10:11:01

The Asian Development Bank, or ADB, on Monday urged government agencies to implement projects in time, which faced hiccups in execution, officials said. The Manila-based lender has also cautioned tha...

ICC Bangladesh delegation calls on former UN secretary-general

FE Online Report November 25, 2019 18:38:36

ICC Bangladesh President Mahbubur Rahman called on former UN secretary-general and Chairman of the Global Commission on Adaptation Dr Ban Ki-moon during his recent visit to Dhaka. ICC Bangladesh Pre...

Cabinet approves draft law to unlock potential of blue economy

BSS November 25, 2019 17:32:46

The Cabinet has approved in principle the draft of Bangladesh Maritime Zones Act 2019 with an aim to unlock the potential of blue economy and checking crimes, particularly piracy on the sea. The appr...

Kazakhstan to modernise 3,477 villages by 2024

-- November 25, 2019 14:09:55

Kazakhstan plans to modernise 3,477 villages by 2024 in accordance with new regional standards, making drinking water, repaired roads and basic social facilities available in the most remote rural are...

Bangladesh needs to diversify export basket: Experts

FE Report November 25, 2019 09:59:21

Bangladesh needs to diversify its export basket and comply with the rules of the World Trade Organisation (WTO) to overcome challenges that would emerge after the country's graduation from the group o...

China's economic health important to world: IMF chief

Xinhua November 24, 2019 16:54:19

China has been a major growth engine for the world economy, and its economic health bears global significance, International Monetary Fund (IMF) Managing Director Kristalina Georgieva told Xinhua in a...

Tax shortfall: Lower import of 10 major items, exemptions blamed

DOULOT AKTER MALA November 24, 2019 10:24:25

Revenue officials have delved into why tax shortfall has hit Tk 149.06 billion during the first quarter of the current fiscal year, missing the target. In a written paper, both customs and VAT wing e...

Foreign debt payment shoots up in first quarter

JASIM UDDIN HAROON and REZAUL KARIM November 24, 2019 09:53:05

The country's external debt payment reached a new high of nearly $500 million in the first quarter (Q1) of this fiscal year. The quarterly debt-servicing data released by the finance division showed...

Croatia to hire over 78,000 foreign workers in 2020

-- November 23, 2019 12:45:45

The Croatian government has set an annual quota of 78,470 permits for hiring foreign workers in 2020. The government unveiled the quota after a regular meeting on Friday, reports Xinhua. A total of...

Australia gives $300m loan to PNG for budget support

-- November 23, 2019 11:49:51

Australia on Saturday said it would provide a loan of $300 million as direct budget assistance for the Pacific island of Papua New Guinea (PNG) and aid its economic reforms and government financing....

Sonadia Island's 'virginity' at risk

ABDUL MONAYEM KHAN November 23, 2019 10:38:00

Sonadia Island, a nine-square kilometre small island in the Bay of Bengal, is likely to lose its 'virginity' as the authorities concerned are building an eco-tourism park there, according to local peo...

Tapping tourism potential crucial to BD economy

SAIF UDDIN November 23, 2019 10:31:52

Despite enormous potential of tourism in Bangladesh, the sector is facing different challenges like inadequate infrastructure, high cost of doing business and lack of branding, according to a study....

Pilot project on Vannamei culture gets govt nod

-- November 23, 2019 10:15:24

The crisis-hit shrimp industry, which has seen a gradual fall in exports over the last five years, is now looking for a breakthrough by introducing a new variety called vannamei or white shrimp. Th...

Budget deficit hits 11-yr high in FY ‘19

JASIM UDDIN HAROON November 23, 2019 09:54:15

The country's budget deficit widened to over Tk 1.1 trillion in the past fiscal year, highest in more than a decade. The imbalance stood at 5.1 per cent of the gross domestic product, or GDP, in fi...

Fed official sees biggest risk to US economy from tariffs

-- November 22, 2019 12:46:14

The biggest risk to the overall US economy remains tariffs and trade as businesses have cut back on investment, a US Federal Reserve official has said. "Right now, overall, my base case scenario is c...

BB waives PKB from keeping 13pc SLR

FE REPORT November 22, 2019 12:15:30

The central bank has waived the Probashi Kallyan Bank (PKB) from maintaining the stipulated statutory liquidity ratio (SLR) in line with the existing Banking Companies Act 1991. The state-owned speci...

Online transactions hampered by new credit card rule

-- November 21, 2019 18:33:41

A new rule requiring customers to obtain a certificate before completing a transaction online is causing people a lot of grief with businessmen in the IT sector suffering in particular. Bangladesh Ba...