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The Financial Express

Search results for: EC

Bank of England tells lenders to brace for economic storm

Bank of England tells lenders to brace for economic storm

-- 2022-07-06 11:56:02

The Bank of England warned on Tuesday that the economic outlook for Britain and the world had darkened and told banks to ramp up capital buffers to ensure they can weather the storm, reports Reuters....

NBR upbeat on nearing tax target in FY22

NBR upbeat on nearing tax target in FY22

FE REPORT 2022-07-06 08:50:36

The kingpin of the revenue board pins high hopes on reaching closer to the target of tax-revenue collection in the just-concluded fiscal year. A target is given expecting high growth which may not be...

BD commercial debts swell to nearly $25b

BD commercial debts swell to nearly $25b

JASIM UDDIN HAROON 2022-07-06 08:38:44

Commercial borrowings under the private sector increased significantly by $6.3 billion to nearly $25.0 billion during the nine- month period of the immediate-past fiscal year. Of the commercial borro...

BB re-fixes MFS transaction limit

BB re-fixes MFS transaction limit

-- 2022-07-05 18:33:38

Bangladesh Bank (BB) has re-fixed the Mobile Financial Services (MFS) Transaction limit. The central bank has re-fixed the daily money transfer from Mobile Financial Service (MFS) to a bank account a...

BGMEA targets $100 billion apparel export by 2030

BGMEA targets $100 billion apparel export by 2030

FE ONLINE REPORT 2022-07-05 15:14:59

The country’s readymade garment (RMG) exporters set US$ 100 billion export earnings by 2030. During the period, the sector is also expected to create employment for a total of 6.0 million peopl...

Ukraine needs $750 billion for recovery plan, prime minister says

Ukraine needs $750 billion for recovery plan, prime minister says

-- 2022-07-05 13:26:41

Ukraine needs $750 billion for a three-stage recovery plan in the wake of Russia's invasion, its prime minister said on Monday. Denys Shmygal also told the Ukraine Recovery Conference hosted by Switz...

Govt bars import loans for luxury goods to rein in trade deficit

Govt bars import loans for luxury goods to rein in trade deficit

-- 2022-07-05 12:02:38

Banks have been instructed not to offer any credit facility for the import of luxury goods, including fruit, cars and electronics, in a bid to ease pressure on foreign currency reserves as Bangladesh'...

Inflation at 24-yr high adds to strains in South Korea's economy

Inflation at 24-yr high adds to strains in South Korea's economy

-- 2022-07-05 11:32:29

South Korea's inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expe...

China rejects NASA accusation it will take over the moon

China rejects NASA accusation it will take over the moon

-- 2022-07-05 10:12:44

China on Monday rejected as an irresponsible smear a warning from the chief of NASA that China might "take over" the moon as part of a military programme, saying it has always called for the building...

BEZA to expedite development of planned EZs in south-western region

BEZA to expedite development of planned EZs in south-western region

SAIF UDDIN 2022-07-05 08:46:28

Bangladesh Economic Zones Authority (BEZA) is expecting to expedite development of the planned industrial parks in the country's south-western (SW) region as investors are showing increased interest i...

Mandatory proof of tax-return filing: Measure may pamper informal economy

Mandatory proof of tax-return filing: Measure may pamper informal economy

DOULOT AKTER MALA 2022-07-05 08:35:10

A flexible approach to enforcement of the provision for mandatory verification of tax-return slip is being adopted for now, officials say as apprehensions grow about money migration into informal econ...

Indian rupee tumbles to record low against dollar

Indian rupee tumbles to record low against dollar

-- 2022-07-04 20:15:16

India is trying to ‘address volatility’ in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said on Monday, amid concerns of a wid...

BB to remain without a governor until July 12

BB to remain without a governor until July 12

-- 2022-07-04 17:55:44

Fazle Kabir went into retirement from Sunday after serving as governor of Bangladesh Bank (BB) for a little more than six years. His successor Abdur Raouf Talukder is scheduled to join the top post o...

Govt suspends funds for 'less important' projects in austerity drive

Govt suspends funds for 'less important' projects in austerity drive

-- 2022-07-04 15:43:58

The government has reduced its allocation for the Annual Development Programme and is no longer releasing funds for 'less important' projects as it expands austerity measures, bdnews24.com reports. T...

Scientists discover new giant water lily species

Scientists discover new giant water lily species

-- 2022-07-04 14:08:06

A new species of giant water lily has been discovered - and it’s been hiding in plain sight for 177 years. The huge plant had been in the archives of the Royal Botanic Gardens, Kew...

Govt goes for belt-tightening as promised

Govt goes for belt-tightening as promised

FE REPORT 2022-07-04 08:43:36

Belt-tightening heralds Bangladesh's new fiscal as the government orders postponing fund release for less-priority projects under the annual development programme (ADP) as a cost-cutting measure amid...

Remittance inflow falls over 15pc

Remittance inflow falls over 15pc

FE REPORT 2022-07-04 08:39:07

Inward remittances into the country dropped over 15 per cent in the fiscal year (FY) 2021-22 over the previous fiscal, despite providing higher incentives. Bangladeshis staying abroad sent home over...

Export earnings surpass $52b in FY22

Export earnings surpass $52b in FY22

FE ONLINE REPORT 2022-07-03 17:12:01

The country's merchandise export earnings maintained hefty growth in the just-concluded fiscal year (FY22), recording over 34 per cent rise to $52.08 billion year-on-year following the excellent perfo...

Give extended support to upgrade cross-border link, Bangladesh tells SASEC conference

Give extended support to upgrade cross-border link, Bangladesh tells SASEC conference

FHM Humayan Kabir 2022-07-03 08:28:14

The government has sought extended support from the South Asia Sub-Regional Cooperation (SASEC), a regional funding window of the Asian Development Bank (ADB), for improving cross-border communication...

FDI, domestic deals: Time to tap M&A prospects

FDI, domestic deals: Time to tap M&A prospects

SAJIBUR RAHMAN 2022-07-03 08:24:14

Bangladesh sees poor M&A (merger and acquisition) transactions mainly in the absence of an enabling environment, thereby affecting foreign direct investment (FDI) and even domestic deals. Highl...

Record Tk 31.6m toll collected from Padma Bridge on day 6

Record Tk 31.6m toll collected from Padma Bridge on day 6

-- 2022-07-02 18:22:27

The government earned Tk 31.6 million in revenue through toll from the vehicles that crossed the Padma Bridge on Friday, the sixth day after the opening of the bridge to traffic. "TK 31.6 million was...

Prospect of joining RCEP: BD accession to pay dividend

Prospect of joining RCEP: BD accession to pay dividend

SYFUL ISLAM and REZAUL KARIM 2022-07-02 08:27:57

Bangladesh's export may grow by 17 per cent and gross domestic product (GDP) 0.26 per cent if a free-trade agreement (FTA) is signed with member-states of the emerging Regional Comprehensive Economic...

Sri Lankans cut number of meals as inflation rate crosses 50pc

Sri Lankans cut number of meals as inflation rate crosses 50pc

-- 2022-07-01 20:32:16

With an out of work husband, housewife Sujeewa Nelum Perera is all too familiar with the struggle of feeding a family of four in Sri Lanka and has been forced to cut down on the number of meals they c...

Sri Lanka offers special berthing facilities to Bangladeshi vessels

Sri Lanka offers special berthing facilities to Bangladeshi vessels

-- 2022-07-01 17:19:58

Sri Lanka's state-owned Jaya Container Terminal at Colombo Port has offered priority berthing facilities to Bangladeshi feeder vessels. Chairman of Sri Lanka Ports Authority (SLPA) Prasantha Jayamann...

Martin Raiser appointed vice president of World Bank for South Asia

Martin Raiser appointed vice president of World Bank for South Asia

-- 2022-07-01 15:48:43

The World Bank has appointed Martin Raiser as its vice president for the South Asia Region. He is an economist and development expert with almost two decades of experience at the World Bank Group, A...

Some IMF staff work 'unduly influenced' despite strong safeguards

Some IMF staff work 'unduly influenced' despite strong safeguards

-- 2022-07-01 13:11:21

Nearly 20 per cent of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data int...

Google to pay $90m to settle legal fight with app developers

Google to pay $90m to settle legal fight with app developers

-- 2022-07-01 11:15:21

Alphabet Inc's Google has agreed to pay $90 million to settle a legal fight with app developers over the money they earned creating apps for Android smartphones and for enticing users to make in-app p...

Parliament passes Tk 6.78t budget for FY23

Parliament passes Tk 6.78t budget for FY23

-- 2022-06-30 22:57:56

With a global economic crisis wrought by a mix of the coronavirus pandemic and the Russia-Ukraine war in the backdrop rocking the economy, parliament has passed the Tk 6.78 trillion spending plan with...

Bangladesh calls for joint efforts to harness marine resources

Bangladesh calls for joint efforts to harness marine resources

-- 2022-06-30 19:45:55

Bangladesh has sought a joint blue economy approach to harness the untapped marine resources that can be used in tackling poverty, food insecurity, unemployment, energy crisis and ecological imbalance...

How belief in AI sentience is becoming a problem

How belief in AI sentience is becoming a problem

-- 2022-06-30 18:02:40

AI chatbot company Replika, which offers customers bespoke avatars that talk and listen to them, says it receives a handful of messages almost every day from users who believe their online friend is s...