Search results for: EC

Tipu for expanding export markets for LDC graduation

-- 2022-11-17 18:01:51

Commerce Minister Tipu Munshi has said that there is a need to move forward with a long-term plan to increase the country’s exportable items and also to expand the export markets considering the...

Sri Lanka-BD joint venture to invest $11.32m in BEPZA EZ 

-- 2022-11-17 17:22:26

JF&I Packaging (BD) Ltd, a Sri Lanka-Bangladesh joint venture enterprise, is going to establish a garments accessories manufacturing industry in BEPZA Economic Zone (EZ)) with an investment of US$...

No forex crisis from Jan 2023, Bangladesh Bank governor says

UNB 2022-11-17 12:10:10

Bangladesh Bank governor Abdur Rouf Talukder has said there will be no foreign exchange crisis from January 2023, as the country's exports and remittances have become surplus compared to imports. He...

Elon Musk says he will find a new leader for Twitter

REUTERS 2022-11-17 12:04:20

Elon Musk said on Wednesday he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organisational restructuring...

BB suspends 480 MFS agents’ accounts

FE ONLINE DESK 2022-11-17 10:38:27

Bangladesh Bank has urged expatriates to send money through the banks, reminding them of legal consequences for using illegal means to conduct cross-border transactions. It also suspended 480 Mobile...

Over 3.0m mobile, net subscribers drop out

ISMAIL HOSSAIN 2022-11-17 08:48:44

Domestic digital divide is widening as all three private mobile network operators (MNOs) lost around two million mobile subscribers and over one million internet users in September, according to lates...

UK inflation hits 41-year high

-- 2022-11-16 20:16:01

Surging household energy bills and food prices pushed British inflation to a 41-year high, according to data published a day before finance minister Jeremy Hunt announces tax hikes and spending cuts t...

Bangladesh Bank curtails banks’ power to waive interest on loans

-- 2022-11-16 19:43:07

Bangladesh Bank is seeking to curtail the powers of the board of directors of banks to waive interest on loans without consultations with the relevant departments. The central bank’s Banking Re...

DCCI urges Iraqi businesses to import vegetables, mangoes

-- 2022-11-16 19:12:09

Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman has said that Iraq can import vegetables, potatoes, mangoes and ICT products from Bangladesh. He also invited Iraqi investors to...

BB allows export income, remittance through MFS

-- 2022-11-16 17:30:31

Bangladesh Bank has allowed mobile financial service (MFS) providers to repatriate (conversion of foreign currency into local currency) export income and inward remittance. All authorised dealers wil...

G20 vows to calibrate pace of interest rate hikes, avoid spillovers

-- 2022-11-16 16:32:47

Leaders of the Group of 20 (G20) major economies have agreed to pace their interest rate hikes carefully to avoid spillovers and warned of "increased volatility" in currency moves, a sea change from l...

Lugang Technology to invest $23m in Ishwardi EPZ

-- 2022-11-16 16:32:33

Lugang Technology (Bangladesh) Limited, a Hong Kong (China) owned company, is going to establish a textile industry at Ishwardi Export Processing Zone (IEPZ). This fully foreign-owned company will in...

WTO warns of 'real' recession risk in some major economies

REUTERS 2022-11-16 12:07:22

The head of the World Trade Organization (WTO) warned on Wednesday that several major economies face a real risk of sliding into recession as the war in Ukraine, rising food and fuel costs, and...

BB governor for cut in interest rates on microcredit lending

FE REPORT 2022-11-16 08:49:11

Bangladesh Bank (BB) Governor Abdur Rouf Talukder on Tuesday urged the country's microfinance institutions to reduce interest rates on microcredit lending. "Making profits from the loans disbursed am...

Liquidity shortage a hoax, say bankers

FE REPORT 2022-11-16 08:45:07

Hearsay on liquidity shortage in Bangladesh's banking system is a hoax, now bankers also say and dismiss it as scaremongering by vested quarters. The Association of Bankers, Bangladesh (ABB) ruled...

Indonesia signs deals to increase renewable energy

-- 2022-11-15 17:38:56

Indonesia has signed deals with international lenders and major nations that will bring billions of dollars in funding to help the country increase its use of renewable energy and reduce its reliance...

EV battery makers race to develop cheaper cell materials

-- 2022-11-15 14:25:27

US and European startups are racing to develop new batteries using two abundant, cheap materials — sodium and sulfur — that could reduce China's battery dominance, ease looming supply bott...

Japan's economy unexpectedly shrinks as hot inflation, global slowdown take toll

REUTERS 2022-11-15 13:49:39

Japan's economy unexpectedly shrank for the first time in a year in the third quarter, stoking further uncertainty about the outlook as global recession risks, a weak yen and higher import costs took...

Carry out reforms, get more loans, WB VP suggests

FE REPORT 2022-11-15 08:46:10

The World Bank suggested the government carry out the reforms earlier tagged with the lender's ongoing budgetary support worth US$500 million to pave the way for such loans in future, officials said o...

Per capita income now $2,824

-- 2022-11-14 22:02:27

The per capita income in Bangladesh rose by 9 per cent year-on-year to $2,824 in the fiscal year 2021-22, said the annual report of the fiscal year (FY) 2021-22 on ministries and divisions approved Mo...

Banks have Tk 1.69 trillion excess liquidity, reveals BB

-- 2022-11-14 19:01:37

Banks have excess liquidity of Tk 1.69 trillion, and rumours on social media are unfounded, Bangladesh Bank spokesperson Md. Abul Kalm Azad said on Monday. He was addressing a press conference at the...

'Graft, govt's centralisation, data shortage major hurdles to achieving SDGs'

FE REPORT 2022-11-14 13:41:32

Corruption, centralisation of the government's power, institutions and funds, and shortage of required and updated data are hindering achievement of the Sustainable Development Goals (SDGs) in the cou...

IMF says global economic outlook getting 'gloomier'

-- 2022-11-14 10:14:13

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It bl...

Sri Lanka budget to seek recovery for crisis-hit economy

REUTERS 2022-11-14 09:34:13

Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial crisis si...

NPLs swell 9.36pc to hit new high

FE REPORT 2022-11-14 08:20:58

Non-performing loans soared to a new high at Tk 1.34 trillion at the end of September, in what economists describe as "governance failure" in Bangladesh's banking system. The amount is 9.36 per cen...

Deposits of common people in banks totally safe, BB assures

-- 2022-11-13 20:56:58

The Bangladesh Bank has said that the deposits of common people in banks are totally safe. The central bank said this on Sunday in response to propaganda on various social media stating that the comm...

Meta says Facebook Reels available for both iOS and Android users in Bangladesh

-- 2022-11-13 20:24:53

After the launch of Instagram Reels in August, Meta has now brought Facebook Reels to everyone in Bangladesh, introducing short-form, entertaining video experiences and tools to creators and audiences...

Kamal hopes getting $500m budget support from WB

-- 2022-11-13 17:55:55

Finance Minister AHM Mustafa Kamal has expressed his optimism that Bangladesh would get $500 million as budget support from the World Bank in the current fiscal year (FY23). He also informed that the...

Bangladesh aims to build cashless society within 3-4yr

-- 2022-11-13 15:51:42

Prime Minister's ICT Affairs Adviser Sajeeb Wazed Joy has said the government aims to build cashless society within next three or four years as part of it's target to bring cent percent people under b...

Australia to consider banning paying of ransoms to cyber criminals

-- 2022-11-13 15:12:05

Australia's Home Affairs Minister Clare O'Neil on Sunday said the government would consider making illegal the paying of ransoms to cyber hackers, following recent cyber-attacks affecting millions of...