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Singapore's non-oil domestic exports grow 8.8pc in May

Singapore's non-oil domestic exports grow 8.8pc in May

-- 2021-06-17 12:23:31

Singapore's non-oil domestic exports (NODX) grew by 8.8 per cent year on year in May, compared to the 6.0 per cent rise in April, according to Enterprise Singapore, a government agency, on Thursday....

SoCBs widen sector's Q1 provisioning shortfall

SoCBs widen sector's Q1 provisioning shortfall

Siddique Islam 2021-06-17 08:48:09

The provisioning shortfall against their loans in the country's banking system swelled in the first quarter (Q1) of current calendar year despite the fact loan classification has been on a relaxed m...

Bangladesh economy faces a fresh blow: MCCI

Bangladesh economy faces a fresh blow: MCCI

FE REPORT 2021-06-17 08:37:30

Bangladesh's economy is facing yet another blow due to the resurgence of Covid-19, the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) has said. The economy showed signs of recovery in...

Minister Kamal sees two reasons behind money laundering

Minister Kamal sees two reasons behind money laundering

FE REPORT 2021-06-17 08:31:54

Finance Minister A H M Mustafa Kamal said on Wednesday some people launder money out of excessive greed for wealth, whereas some others are criminal by nature who indulge themselves in such offences...

Bangladesh could save $500m every year by recycling cotton

Bangladesh could save $500m every year by recycling cotton

REUTERS 2021-06-16 17:37:42

Bangladesh’s garment industry, the world’s second-largest exporter of clothes, could reduce its annual spending by half a billion dollars if it recycled cotton waste from its factories and...

Rampal project work in slow lane

Rampal project work in slow lane

FHM Humayan Kabir 2021-06-16 12:49:09

The implementation of the Rampal 1320-megawatt (MW) thermal power plant, a fast-track project, is on the slow lane as only 66 per cent of the total job could be done as of April last, project insiders...

Living cost in Bangladesh rises by 6.88pc in 2020: CAB

Living cost in Bangladesh rises by 6.88pc in 2020: CAB

FE ONLINE REPORT 2021-06-16 11:54:31

The cost of living in Bangladesh rose by 6.88 per cent in 2020, with the prices of products and services going up by 6.31 per cent during the period, the Consumers Association of Bangladesh (CAB) ha...

China to send astronauts into space, first such mission in five years

China to send astronauts into space, first such mission in five years

Reuters 2021-06-16 10:09:45

China will send three men into orbit on Thursday in its first crewed mission in nearly five years, part of an ambitious plan to complete a space station by the end of next year. China is expected to...

NPLs up despite relaxed loan classification

NPLs up despite relaxed loan classification

Siddique Islam 2021-06-16 08:47:59

The amount of classified loans in the banking sector increased slightly in the first quarter (Q1) of the current calendar year despite providing policy support by the central bank in relation to loa...

Twitter introduces 'Arabic (feminine)' language setting

Twitter introduces 'Arabic (feminine)' language setting

Reuters 2021-06-15 15:35:10

Twitter on Tuesday introduced an "Arabic (feminine)" language setting enabling the social media site to speak to users using feminine grammar, part of what it said was an inclusion and diversity drive...

Land port operations should be brought under one umbrella: State minister

Land port operations should be brought under one umbrella: State minister

FE REPORT 2021-06-15 10:38:47

State Minister for Shipping Khalid Mahmud Chowdury said on Monday operations of land ports in the country along with their law-enforcers and customs officials concerned are required to be brought unde...

Central bank working on CCP to minimise risks

Central bank working on CCP to minimise risks

SIDDIQUE ISLAM 2021-06-15 08:45:44

The central bank is working on establishing a central clearing counterparty (CCP) as an independent authority to lower risks for government securities initially. It formed an eight-member high-powe...

Dhaka to start negotiations with Colombo to sign PTA

Dhaka to start negotiations with Colombo to sign PTA

FE REPORT 2021-06-14 10:38:56

The government will soon start negotiations aiming to sign a preferential trade agreement (PTA) between Bangladesh and Sri Lanka by July, in a bid to increase bilateral trade volume between the friend...

FBCCI seeks major reform in tax regime

FBCCI seeks major reform in tax regime

DOULOT AKTER MALA 2021-06-14 10:20:51

The country's apex trade body has demanded bringing a major reform in the country's tax regime as it sought separation of the tax collection and policy wings to ensure time-befitting tax measures. As...

Only 14pc of development budget directly youth-focused: SANEM

Only 14pc of development budget directly youth-focused: SANEM

FE REPORT 2021-06-14 10:11:44

Only 14 per cent of the annual development programme (ADP) of the proposed budget was directly youth-focused, a SANEM study revealed on Sunday. It said considering the ADP of 22 ministries, it was fo...

Facebook now registered taxpayer in Bangladesh

Facebook now registered taxpayer in Bangladesh

FE ONLINE REPORT 2021-06-13 14:37:43

Social media giant Facebook has obtained VAT registrations from the National Board of Revenue (NBR) on Sunday complying with the government’s law to operate as a registered taxpayer. From now...

Steps beyond budget important for boosting private investment

Steps beyond budget important for boosting private investment

FE REPORT 2021-06-13 08:31:30

Issues such as infrastructure development, high cost of doing business and good governance should be addressed to boost private investment, as corporate tax cuts alone would not serve the purpose. Ex...

CSOs, coastal MPs demand allocation of Tk 150b for coastal embankment

CSOs, coastal MPs demand allocation of Tk 150b for coastal embankment

-- 2021-06-12 18:25:26

A group of civil society organisations (CSOs) and MPs from coastal areas on Saturday urged the government to allocate at least Tk 150 billion for coastal protection, particularly for climate-resilient...

ADB seeks final nod for floating offshore taka bond, Dhaka not in a hurry

ADB seeks final nod for floating offshore taka bond, Dhaka not in a hurry

FE REPORT 2021-06-12 08:32:23

The Asian Development Bank (ADB) has sought final approval from the government for floating offshore taka-denominated bond for Bangladesh, officials said. It has also forwarded a sample approval lett...

Marginal rise in Bangladesh government's liabilities likely in 2021-22

Marginal rise in Bangladesh government's liabilities likely in 2021-22

FE REPORT 2021-06-12 08:27:08

The government's liabilities in the next fiscal year (FY), 2021-22, are expected to rise marginally, as its domestic liabilities, which usually become higher than foreign loans, are likely shrink to s...

UN asks world not to forget about saving species while fixing global warming

UN asks world not to forget about saving species while fixing global warming

-- 2021-06-11 18:10:50

To save the planet, the world needs to tackle the crises of climate change and species loss together, taking measures that fix both and not just one, United Nations scientists said, reports AP. A joi...

AFD to provide Tk 1,24b to support electricity grid digitisation

AFD to provide Tk 1,24b to support electricity grid digitisation

FE ONLINE DESK 2021-06-11 16:03:40

France Development Agency (AFD) and the Bangladesh government have signed a financing agreement of Tk 1.24 billion (EUR 12 million) to support advanced digital solutions in the power and energy sector...

US budget deficit tops $2tr in first eight months of FY21

US budget deficit tops $2tr in first eight months of FY21

-- 2021-06-11 13:01:16

The U.S. budget deficit soared to 2.1 trillion US dollars during the first eight months of the fiscal year 2021, which ends on Sept. 30, the U.S. Treasury Department has reported. Federal revenue for...

Policy supports to importers extended until Dec 31

Policy supports to importers extended until Dec 31

FE REPORT 2021-06-11 10:02:51

The central bank has extended the tenure of its different policy supports to importers by six more months amid the ongoing Covid-19 pandemic, officials said. The importers will now enjoy the facili...

State-owned enterprises' loans with government guarantee soar 22pc

State-owned enterprises' loans with government guarantee soar 22pc

JASIM UDDIN HAROON 2021-06-11 09:51:39

The amount of outstanding loans of the state-owned enterprises (SOEs), backed by the government's guarantees, surged by nearly 22 per cent last year, according to budget document. The document said t...

Private sector credit growth falls further during 2nd wave of Covid-19

Private sector credit growth falls further during 2nd wave of Covid-19

SIDDIQUE ISLAM 2021-06-11 08:18:12

Private sector credit growth decreased further in April, mainly due to the second wave of the Covid-19 in the country, bankers said. The growth in credit flow to the private sector came down to 8.29...

Withdrawal of imposed supplementary duty on local tiles, sanitary products sought

Withdrawal of imposed supplementary duty on local tiles, sanitary products sought

-- 2021-06-10 21:09:10

Country’s ceramic makers sought the withdrawal of imposed supplementary duty (SD) on production and supply of all kinds of locally-made tiles and sanitary products in the proposed national budge...

Google, Facebook pledged millions for local news. Was it enough?

Google, Facebook pledged millions for local news. Was it enough?

REUTERS 2021-06-10 18:15:17

Facing regulatory and political pressure, Facebook and Alphabet Inc’s Google in recent years committed a combined $600 million to support news outlets globally - many of them local or regional e...

Preparations underway to face LDC graduation challenges

Preparations underway to face LDC graduation challenges

UNB 2021-06-10 17:52:47

The government is preparing an action plan that will focus on helping the businesses to be more competitive in international export trade to face the new challenges after its graduation to a developin...

'6.0m people slide below poverty line in Bangladesh each year'

'6.0m people slide below poverty line in Bangladesh each year'

FE REPORT 2021-06-10 10:01:27

Around 6.0 million people slide down below the poverty line in the country every year due to higher personal costs for availing healthcare services amid poor budgetary allocation for health, according...