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Snapchat removes Trump account

-- 2020-06-04 11:16:14

Snap Inc said it would no longer promote US President Donald Trump’s account in Snapchat’s Discover section, saying his incendiary comments last week made the account ineligible for the cu...

5.4pc inflation rate likely next fiscal

FHM Humayan Kabir 2020-06-04 09:26:45

The government is likely to keep the average inflation rate within the 5.4 per cent limit in fiscal year 2020-21, officials said on Wednesday. The inflation target for the next fiscal will be propose...

Budget spending to go up by 11pc in FY '21

SYFUL ISLAM 2020-06-04 09:25:54

The appointment of additional number of doctors and nurses to fight coronavirus pandemic will push up the operating expenditure of the government by around 11 per cent in the next fiscal year (FY'21)...

COVID-19 may cost global economy $82t in five years

-- 2020-06-03 19:33:32

The global economy could take a hit of some $82 trillion in a worst case scenario from the coronavirus over the next five years, according to recent findings by University of Cambridge. The Centre fo...

Virus brings Asia's online lending sector to juddering halt

Reuters 2020-06-03 11:19:41

The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans. Within weeks, the coronavirus pandemic had taken hold, drastically changing the pic...

Google faces $5b lawsuit in US

-- 2020-06-03 11:00:44

Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through bro...

RMG, footwear suffer most during pandemic

MONIRA MUNNI 2020-06-03 09:40:10

Garment, footwear and construction sectors have suffered the biggest economic hit during the Covid-19 pandemic with supply chain disruption as the top challenge, according to a latest report. An esti...

Budget for FY 2021: Higher debt to drive up interest payment

FE REPORT 2020-06-03 09:28:34

With the government's bank and non-bank borrowing on a steep rise, the next fiscal's budget is likely to earmark an allocation of Tk 635.25 billion for paying interest. The allocation is up by Tk 64....

DSCC to collect tax from all 26 sectors

FE REPORT 2020-06-03 09:27:40

Dhaka South City Corporation (DSCC) will collect tax from all the 26 sectors, instead of the present nine, to increase the revenue income of the corporation without increasing tax burden on citizens...

This years’ budget is our 'survival budget'

-- 2020-06-03 00:59:44

This years’ budget must put thrust on ensuring our survival through strengthening health, medical and social security sector. Prominent economic analysts and experts shared such thought on up...

UNCTAD appoints Dona Bertarelli as special adviser for blue economy

FE ONLINE DESK 2020-06-02 22:26:37

The United Nations Conference on Trade and Development (UNCTAD) has appointed Dona Bertarelli, an ocean conservation advocate, as its special adviser for blue economy. Dona Bertarelli, a Swiss philan...

Vietnam's new enterprises fall 10.5pc y/y in five months

-- 2020-06-02 16:19:08

A total of 48,300 enterprises with a total registered capital of 557.9 trillion Vietnamese dong (nearly 24.3 billion US dollars) were set up in Vietnam in the first five months of this year, down 10.5...

Inflation drops to 5.35pc in May

FE Online Report 2020-06-02 15:28:46

The point-to-point inflation rate in May dropped to 5.35 per cent compared to that of 5.96 per cent in the previous month (April), official data showed. A year ago in May 2019, the inflation rate was...

ECNEC clears two COVID-19 response projects worth Tk 24.92 billion

FE Online Report 2020-06-02 15:19:46

The government on Tuesday approved two COVID-19 response projects at a combined cost of Tk 24.92 billion aimed at combating the outbreak of the deadly coronavirus in the country. Along with both the...

COVID-19 impact and the world economy in eight charts by RAPID

M ABU EUSUF and JILLUR RAHMAN 2020-06-02 13:38:51

The first case of COVID-19 (Coronavirus) was reported in Wuhan, China, in late December 2019. As of 31 May, 2020, over 6.2 million COVID cases were reported in over 200 countries and territories aroun...

BB files new case over 2016 cyber heist

-- 2020-06-02 12:12:45

Bangladesh Bank (BB) has filed a fresh civil case against 17 Philippine entities to recover the 81 million US stolen in a 2016 cyber heist, reports philstar.com. The case has been filed against the e...

ADB expands trade finance to support private sector in BD

FE Online Report 2020-06-02 11:48:49

The Asian Development Bank (ADB) has expanded the Trade Finance Program (TFP) to support private sector in Bangladesh by raising its financing limit to US$755 million from $518 million at the end of l...

Moody's cuts India's rating to lowest investment grade

REUTERS 2020-06-02 09:59:00

Moody’s Investors Service downgraded India’s credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia’s third-largest economy, rising debt and...

Remittance inflow falls more than 14pc in May

FE REPORT 2020-06-02 09:36:11

The flow of inward remittance fell by more than 14 per cent in May following the coronavirus outbreak in different parts of the world, officials said. Remittance from Bangladeshis working abroad was...

FY'21 budget: Deficit could reach 5.7 per cent of GDP

FHM Humayan Kabir 2020-06-02 09:28:12

The deficit in the upcoming budget is likely to hit a new high of 5.7 per cent due to the government's "expansionary" fiscal approach aimed at weathering the coronavirus effect on the economy, officia...

Huawei unveils smart office product for all-scenario remote collaboration

-- 2020-06-01 20:21:02

Huawei launched its next-generation IdeaHub series intelligent endpoint for all-scenario smart office ecosystem recently aimed at improving efficiency for enterprises, especially remote collaboration...

NBR extends deadline for tax submission

FE Online Report 2020-06-01 17:55:12

The National Board of Revenue (NBR) has extended the deadline for submission of corporate and other tax returns until June 29. The extended deadline would be valid for the taxpayers who have missed t...

Experts for top priority to health sector in next budget

FE Online Report 2020-06-01 15:24:18

Health sector should get utmost priority in the upcoming budget for the 2020-2021 fiscal in a bid to reduce COVID-19 effects and provide basic health security for vulnerable population, speakers said...

Australia's stalled migrant boom derails golden economic run

REUTERS 2020-06-01 14:02:26

Australia’s three decades of uninterrupted prosperity are coming to an abrupt end as the global coronavirus pandemic crashes one of its most lucrative sources of income – immigration. The...

SpaceX capsule delivers two NASA astronauts to Int'l Space Station

Reuters 2020-06-01 12:32:34

Nearly 24 hours after launching from Florida, SpaceX’s Crew Dragon capsule delivered NASA astronauts Bob Behnken and Doug Hurley to the International Space Station on Sunday, marking the first U...

South Korea's export drops 23.7pc in May

-- 2020-06-01 12:17:56

South Korea's export dropped in double digits in May as global demand weakened amid the coronavirus (COVID-19) outbreak across the world, a government report showed Monday. Export, which accounts for...

Tax waiver withdrawn for economic zone factories

FE REPORT 2020-06-01 09:26:16

Factories producing essential products, including edible oil, sugar, flour, cement and steel, inside economic zones will no longer be eligible for tax exemptions. In a regulatory order, the National...

ICSB event on Covid-19 and its impact

FE Online Desk 2020-06-01 00:54:39

The Institute of Chartered Secretaries of Bangladesh (ICSB) organized a Continuing Professional Development (CPD) programme on "COVID-19 and its impact on the National Economy” on May 30, 2020 o...

Rural e-commerce gains momentum in China as stay-at-home economy thrives

Xinhua 2020-05-31 19:09:21

China's rural e-commerce has been growing at a fast pace amid government initiatives to support rural consumption, data showed. As of May 22, the country saw more than 87,000 newly registered rural e...

Export earnings from jute increase by 14pc in 10 months

-- 2020-05-31 19:07:34

Export earnings from jute and jute products have increased by 14 per cent in the first ten months (July-April) of the current fiscal year 2019-20, compared to corresponding period of the previous fisc...