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Search results for: economy

Banks' fund management comes under close watch

Siddique Islam January 10, 2018 10:24:27

Scheduled banks' fund management came under close supervision as the central bank issued Tuesday directives on wholesale borrowing (WB) and commitment for maintaining a sound asset-liability balance....

ADP implementation loses pace in July-Dec

FE Online Report January 09, 2018 19:12:03

The government has implemented 27 per cent of the Annual Development Programme (ADP) during the first half (July-December) of the current fiscal.  However, it has failed to improve its project e...

Move to establish 160 upazila ICT centres

FE Online Report January 09, 2018 18:48:51

The government is going to set up 160 upazila ICT training and resource centres with all necessary facilities to train up the teachers of secondary level educational institutions. The Executive Commi...

Govt strikes $245m WB deal to remodel safety-net schemes

FE Online Report January 09, 2018 18:07:16

The World Bank will provide US$245 million worth of loans for modernising Bangladesh’s social safety-net programmes for improving equity, efficiency and transparency of the state services. ...

UAE expects GDP growth of 3.9pc in 2018

-- January 09, 2018 16:05:50

Growth of the United Arab Emirates’ gross domestic product is expected to accelerate to 3.9 per cent in 2018, a senior official of the Ministry of Economy said on Tuesday. Abdullah al-Saleh, th...

Thai exports likely to rise in 2018

-- January 09, 2018 15:28:53

Thailand’s exports, which shrank for three years before a solid rebound in 2017, are likely to rise 5.5 per cent this year, a group of Thai shippers said on Tuesday. The Thai National Shippers&...

BBIN connectivity talks today

FE Report January 09, 2018 10:57:26

Talks begin today (Wednesday) in Delhi about introducing the stalled sub-regional transport connectivity under BBIN bloc, leaving out a reluctant Bhutan. The negotiations on implementation of the Ban...

NBR sets conditions for firms in economic zones

FE Report January 09, 2018 10:45:23

The government made obtaining the local sales permit (LSP) mandatory for the industries in Bangladesh's economic zones if they were willing to sell their products for domestic consumption. Also, they...

BDT deflates 5.15pc against US$ in a year

Siddique Islam January 09, 2018 00:23:40

The Bangladesh Taka (BDT) depreciated by 5.15 per cent against the US dollar ($) during the last one year despite selling of the greenback by the central bank to keep the foreign exchange (forex) mark...

WB to give $245m deal for BD safety-net schemes

-- January 08, 2018 21:08:29

The World Bank (WB) has agreed to sign a US$245 million additional loan agreement with Bangladesh for ensuring equity, efficiency and transparency in the latter’s safety-net programmes. An agre...

US Fed ready to lie low for White House!

Reuters January 08, 2018 14:33:01

US Federal Reserve policymakers have come to view Donald Trump’s tax overhaul as a short-term economic boost that will neither permanently supercharge the economy, as the president says, or caus...

China forms $4.6b fund to spur service trade

Reuters January 08, 2018 11:33:56

China has launched a 30 billion yuan ($4.63 billion) investment fund to boost the services trade industry, in an effort to further improve the country’s foreign trade structure, the official Xin...

Ensuring quality credit gets top priority in next MPS

Siddique Islam January 08, 2018 09:54:19

Ensuring the quality of credit to achieve maximum economic growth by the end of this fiscal gets top priority as the central bank prepared to formulate country's next monetary policy. Officials said...

Bangladesh's graduation from LDC status in March

-- January 07, 2018 18:50:45

Bangladesh will graduate as a developing country from the status of a least developed country (LDC) in March. A senior minister of the government came up with the assertion in Dhaka on Sunday after e...

Pirated imports of mobile phones cost govt Tk 7.0b annually

-- January 07, 2018 17:03:42

The government is losing around Tk 7.0 billion duties every year due to illegal imports, mainly through luggage, of unauthorised mobile phone sets. "The government has been losing huge amount of duti...

CAB demands withdrawal of power tariff hike

FE Report January 07, 2018 12:24:01

Terming the Bangladesh Energy Regulatory Commission (BERC) a biased organisation, the Consumers Association of Bangladesh (CAB) has demanded a rollback in the recent power tariff hike of Tk 0.35...

Laggard projects losing funds to faster ones in RADP

FHM Humayan Kabir January 07, 2018 11:59:37

Revision of the present Annual Development Programme (ADP) began with emphasis on more fund allocations for the ongoing projects instead of incorporating fresh ones-unlike previous practice. As the P...

Payra power plant project: Govt gives guarantee for US$ 1.0b Chinese loan

FE Report January 07, 2018 11:33:10

The government has issued a US$ 1.0 billion worth of state guarantee in favour of Chinese loan for implementing a 1320-mw Payra coal-based power plant project, officials have said. A senior finance m...

US Fed rate-setter for three hikes this year

Reuters January 07, 2018 11:20:17

The Federal Reserve should raise interest rates three times this year given the already strong economy will get a boost from tax cuts, and can tighten more or less aggressively if needed, a key US rat...

Taxpayers suffer as NBR can't carefully verify return audit

Doulot Akter Mala January 07, 2018 10:00:57

Government revenue authority lacks scope to centrally verify accuracy of the selected tax-returns coming from outfield offices for audit, resulting in alleged harassment of the taxpayers. Sources sai...

King Salman orders to pay citizens inflation allowances

-- January 06, 2018 23:45:37

Saudi King Salman bin Abdulaziz Al Saud has ordered to provide citizens with inflation allowances to ease the expected rise in the cost of living after the newly enforced value added tax (VAT). Accor...

WB to lend additional loans for safety net programme

-- January 06, 2018 19:34:19

The World Bank (WB) is set to provide more loans for the project to improve the equity, efficiency and transparency of major safety net programmes in Bangladesh. To this end, an agreement will be si...

British productivity growth hits record high

-- January 06, 2018 15:55:16

British economic productivity perked up in the three months to the end of September, growing at its fastest rate in more than six years, in contrast to its historically weak performance over the previ...

Venezuela to issue $5.9b in cryptocurrency

-- January 06, 2018 14:19:34

Venezuela President Nicolas Maduro said that they would issue 100 million units of its new oil-backed cryptocurrency in coming days. He announced to issue the cryptocurrency when the OPEC member is g...

Deficit financing jumps 48pc in July-Oct

FE Online Report January 06, 2018 12:19:45

Financing of the budget deficit in the first four months of the current fiscal year (FY18) stood at Tk 208.04 billion, according to the latest statistics of the central bank. The amount was 48 per ce...

India lowers growth forecast ahead of budget

Reuters January 06, 2018 10:50:23

India lowered its forecast for the current year’s economic growth on Friday before a federal budget is released next month, as businesses were hit by the chaotic launch of new nationwide tax las...

Japanese ODA loan package may get delayed

Syful Islam January 06, 2018 09:52:05

A discord between Bangladesh Bank (BB) and the Bank of Tokyo-Mitsubishi (BTMU) over bank-commission payment on the latest ODA loan package may delay the Japanese funding of six more important developm...

Move underway to digitise management of savings tools

Rezaul Karim January 06, 2018 09:32:44

Some reforms are in the offing for modernizing management of the savings instruments and converting those to a sustainable source of deficit financing by the government. To this end, official sources...

Forex reserves under pressure

 Siddique Islam January 06, 2018 09:22:38

Bangladesh's foreign-exchange reserves (forex) came under pressure following higher external payments, particularly as food and fuel costs fired up the bills. Sources said import payments swelled as...

China trims final 2016 GDP figure

-- January 05, 2018 14:56:30

China slightly trimmed its final 2016 Gross Domestic Product (GDP) figure after scaling back an initial estimate of the services sector, but kept the annual GDP growth rate unchanged at 6.7 per cent....