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The Financial Express

Search results for: economy

‘Bangladesh, Brazil to build stronger economic ties in post-Covid era’

‘Bangladesh, Brazil to build stronger economic ties in post-Covid era’

-- 2021-02-14 18:36:09

Brazilian Ambassador to Bangladesh Joao Tabajara de Oliveira Junior has said Bangladesh and Brazil can make a stronger alliance on trade and economic front getting out of the current pandemic situatio...

Merger & acquisition or closure considered only way-out for troubled banks

Merger & acquisition or closure considered only way-out for troubled banks

FE REPORT 2021-02-14 08:31:19

The government is unwilling to go for merger and acquisition (M&A) in the banking sector though the latter needs it most, speakers at a webinar said on Saturday. The need has become even stronger...

US 'back at the table' to help global economic recovery

US 'back at the table' to help global economic recovery

-- 2021-02-13 10:49:33

US President Joe Biden’s administration told allies on Friday it was re-engaging with them to help steer the global economy out of its worst slump since the Great Depression, a contrast with the...

Domestic funding for development budget unlikely to be cut

Domestic funding for development budget unlikely to be cut

SYFUL ISLAM 2021-02-13 08:21:09

The government has decided to keep the domestic resource allocation in the annual development programme (ADP) for the current financial year unchanged. The budget for the FY2021 is now undergoing a r...

Record $58.1b pours into global equity funds: BofA

Record $58.1b pours into global equity funds: BofA

Reuters 2021-02-12 20:19:32

A record $58.1 billion poured into global equity funds over the past week as investors pulled money out of cash funds and had a lighter exposure to bonds, BofA’s weekly fund flow data showed on...

UK economy slumps by record 10pc in 2020

UK economy slumps by record 10pc in 2020

-- 2021-02-12 18:20:04

Britain's coronavirus-ravaged economy suffered its biggest crash in output in more than 300 years in 2020 when it slumped by 9.9 per cent, but it avoided heading back towards recession at the end of t...

Littoral countries' debt burden surges

Littoral countries' debt burden surges

FE REPORT 2021-02-12 10:28:44

One of the major impacts of the Covid-19 pandemic on the countries in the Bay of Bengal region is a surge in debt burden, economists told a dialogue on Thursday. Countries like Bangladesh, India, Sri...

Minister annoyed with poor tax-GDP ratio as NBR awards top taxpayers

Minister annoyed with poor tax-GDP ratio as NBR awards top taxpayers

FE REPORT 2021-02-12 10:07:19

Finance minister AHM Mustafa Kamal on Thursday asked the taxmen to refrain from physical inspection as it may cause harassment to the taxpayers. He also instructed them to automate the tax administra...

IMF's own currency likely to get G7 backing

IMF's own currency likely to get G7 backing

Reuters 2021-02-12 09:54:02

Group of Seven finance ministers are likely to back a new allocation of the International Monetary Fund’s own currency, or special drawing rights, at an online meeting on Friday to help low-inco...

Freelancers allowed to bring earnings through MFSs

Freelancers allowed to bring earnings through MFSs

FE REPORT 2021-02-11 09:07:13

The IT freelancers will now be able to bring home their small-value earnings through mobile financial services (MFSs). Previously, they had to bring the money through banks. Local people, especially...

Anti-graft body asks taxmen to probe legalising black money

Anti-graft body asks taxmen to probe legalising black money

DOULOT AKTER MALA 2021-02-11 08:44:39

The Anti-Corruption Commission (ACC) has warned the taxmen against black money accumulation by some people, showing income from fake fish, poultry and dairy farms or other businesses relating to stock...

Bangladeshi banks in artificial comfort zone

Bangladeshi banks in artificial comfort zone

SIDDIQUE ISLAM 2021-02-11 08:11:30

The provisioning shortfall against loans in the country's banking system fell by over 98 per cent in the last quarter of the year 2020 as the non-performing loans (NPLs) declined to some extent, offic...

COVID, climate, tax feature at first post-Trump G7 talks

COVID, climate, tax feature at first post-Trump G7 talks

Reuters 2021-02-10 23:17:49

The new administration of US President Joe Biden joins international talks on the global economy this week with other rich nations expecting a decisive break from the "America First" nationalism of...

Microfinance operators seek ‘zero interest’credit from BB to support Covid-hit poor

Microfinance operators seek ‘zero interest’credit from BB to support Covid-hit poor

FE ONLINE REPORT 2021-02-10 20:33:31

The national forum of microfinance institutions has demanded simplification of the process for disbursing loans from the government’s stimulus packages to help the poor recover Covid-19 losses t...

Pandemic job pain fell unevenly on minorities, the poor

Pandemic job pain fell unevenly on minorities, the poor

-- 2021-02-10 10:08:44

Black workers, women and others in low-paying jobs were more likely to become unemployed during the pandemic, faced greater health risks if they did keep working and are being pushed out of the labour...

Bangladesh's imports picking up

Bangladesh's imports picking up

JASIM UDDIN HAROON 2021-02-10 08:22:38

Bangladesh's imports have started picking up for the first time since the Covid-19 pandemic paralysed the national economy, according to shipping executives. Imports surged in January by 5.0-6.0 pe...

Banks’ non-performing loans shrink, thanks to moratorium

Banks’ non-performing loans shrink, thanks to moratorium

SIDDIQUE ISLAM 2021-02-10 08:13:23

The size of the banks' non-performing loans (NPLs) shrank further at the end of the fourth quarter of 2020. The suspension of the usual practice of classifying loans that had been put into effect by...

Mask making helps rural women earn livelihood 

Mask making helps rural women earn livelihood 

-- 2021-02-09 18:25:13

Amid the tough time of coronavirus, women in Bangladesh's rural areas are making biodegradable, reusable Ella masks from garment scraps to cope with the pandemic-induced new social lifestyle and ensur...

Emerging market central bank rate cuts fade further

Emerging market central bank rate cuts fade further

Reuters 2021-02-09 10:02:04

Emerging market central banks delivered just one interest rate cut in December, signalling the fading out of an easing cycle that had started in 2019 and had exceeded the cuts during the 2008 financia...

Vietnamese firm to charge Tk 140m for continuing support to automated VAT admin

Vietnamese firm to charge Tk 140m for continuing support to automated VAT admin

DOULOT AKTER MALA 2021-02-09 08:24:26

The government will have to pay Tk 140 million to the Vietnamese firm FPT from its own coffer as per contract with the company to avail its support for continuing automated VAT administration after Ju...

SDG attainment would be tough without effective bureaucracy

SDG attainment would be tough without effective bureaucracy

FE REPORT 2021-02-09 08:11:08

Anti-Corruption Commission (ACC) Chairman Iqbal Mahmood on Monday said the achievement of Sustainable Development Goals (SDGs) would be tough without effective and efficient bureaucratic practices. "...

Project aid in pipeline soars to $48b as state agencies fail to utilise funds

Project aid in pipeline soars to $48b as state agencies fail to utilise funds

FHM Humayan Kabir 2021-02-09 08:04:30

The volume of undisbursed project aid (PA) ballooned to more than US$48 billion until December last, as many public agencies failed to utilise the same, officials said on Monday. The amount is more...

Cyclone Amphan, COVID-19 pandemic push shrimp farmers into poverty

Cyclone Amphan, COVID-19 pandemic push shrimp farmers into poverty

-- 2021-02-08 19:46:36

This time last year the west coast of Bangladesh was a thriving place for shrimp farmers. It was a decent enough living and there was a healthy export market. Majnu Sardar, who lives in Koyra upazila...

Interest rate spread widens as small savers hit hard

Interest rate spread widens as small savers hit hard

SIDDIQUE ISLAM 2021-02-08 08:54:31

The interest rate spread widened further in December last as the banks cut the deposit rates deeper than that of the lending rates, bankers have said. The weighted average spread between the lendin...

Customs delay bites Bangladesh businesses

Customs delay bites Bangladesh businesses

DOULOT AKTER MALA 2021-02-08 08:51:01

Businesses are facing delay and counting higher costs while complying with customs documentation at the ports, although the authorities have made significant improvements in recent times. In 50 per c...

Banks can give a maximum of 30pc dividend for 2020

Banks can give a maximum of 30pc dividend for 2020

FE REPORT 2021-02-08 08:45:35

The banking companies would be able to declare maximum 30 per cent dividend, including 15 per cent cash, for the year ended on December 31, 2020. The Bangladesh Bank (BB) has set the limit for the ba...

World Bank okays $40m for Bangladesh to expand e-GP coverage

World Bank okays $40m for Bangladesh to expand e-GP coverage

-- 2021-02-07 17:14:03

The World Bank has approved $40 million to help Bangladesh increase the coverage of electronic government procurement (e-GP) with new features to respond to the COVID 19 challenges. This additio...

Apparel exports to US drop about 12pc in 2020

Apparel exports to US drop about 12pc in 2020

MONIRA MUNNI 2021-02-07 09:51:51

The country's apparel exports to the United States fell by 11.73 per cent to US$ 5.22 billion in 2020 year on year mainly due to the adverse impact of Covid-19 pandemic. Bangladesh fetched $ 5.92 bil...

LDC graduation’s gains to outweigh any losses, says Kamal

LDC graduation’s gains to outweigh any losses, says Kamal

-- 2021-02-06 21:23:26

Finance Minister A H M Mustafa Kamal on Saturday said graduation from the Least Developed Country (LDC) status would be a matter of great honour and pride for the country. "Such pride and prestige ca...

LDC graduation to bring new opportunities, FBCCI president hopes

LDC graduation to bring new opportunities, FBCCI president hopes

FE ONLINE DESK 2021-02-06 19:25:52

FBCCI President Sheikh Fazle Fahim has said Bangladesh would get new facilities in commerce graduating out of the least developed country (LDC). Describing LDC graduation as a big achievement for the...