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The Financial Express

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Bangladesh Bank injects $7.34b into forex market in 11 months

Bangladesh Bank injects $7.34b into forex market in 11 months

SIDDIQUE ISLAM 2022-06-27 08:11:46

The central bank has pumped over US$7.0 billion into the country's overheated foreign-exchange (forex) market in around 11 months to defend exchange rate of the local currency against the greenback....

Capacity payment goes up to Tk 265.05b in FY22: CPD

Capacity payment goes up to Tk 265.05b in FY22: CPD

-- 2022-06-26 18:58:08

The Centre for Policy Dialogue (CPD) on Sunday said that the capacity payment to private sector power plants, including rental and quick rental plants, has gone up to Tk 265.05 billion in FY22 from Tk...

Banks selling dollar at highest-ever Tk 99

Banks selling dollar at highest-ever Tk 99

-- 2022-06-26 18:55:52

Banks are selling US dollars for import payment at Tk 98 to 99, which is the highest exchange rate of dollars ever in the banking channel. Though the Bangladesh Bank (BB) is selling US dollars at Tk...

Mid-range laptops you can consider buying

Mid-range laptops you can consider buying

Fardeen Kabir 2022-06-26 14:05:46

The mid-range laptop category is the trickiest in the market. Customers want practicality, performance and a bit of aesthetics, all on a limited budget. There are a lot of laptops competing in this pr...

Hasina seeks more investment from Kuwait

Hasina seeks more investment from Kuwait

-- 2022-06-26 12:40:54

Prime Minister Sheikh Hasina on Sunday urged the Kuwait government to invest in Special Economic Zones of Bangladesh. She also urged the Middle Eastern country for recruiting more skilled and semi-sk...

Padma Bridge will add Tk 423.62 billion to GDP in a year: BBS

Padma Bridge will add Tk 423.62 billion to GDP in a year: BBS

-- 2022-06-25 21:58:01

Newly-inaugurated Padma Bridge will add Tk 423.62 billion to the gross domestic product (GDP) in one year, according to the Bangladesh Bureau of Statistics (BBS). The estimated amount is equal to1.2...

Instagram tests face-scanning artificial intelligence tool for age verification

Instagram tests face-scanning artificial intelligence tool for age verification

-- 2022-06-24 20:03:20

Instagram is testing new ways to verify the age of people using its service, including a face-scanning artificial intelligence tool, having mutual friends verify their age or uploading an ID. But the...

Nutrition interventions sought for boosting overall economy

Nutrition interventions sought for boosting overall economy

-- 2022-06-24 19:21:04

Nutrition interventions play a crucial role in empowering women, ensuring dietary diversity, building a climate-resilient food system, and boosting the overall economy, said experts at a seminar in th...

Toyota, Suzuki take hybrid route in India

Toyota, Suzuki take hybrid route in India

-- 2022-06-24 18:18:12

Toyota Motor Corp and Suzuki Motor Corp on Friday said they would begin production of hybrid vehicles in India, a category that Toyota has said is currently best suited to such markets. A T...

German minister warns of industry shutdown amid gas shortage

German minister warns of industry shutdown amid gas shortage

-- 2022-06-24 13:18:55

Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is not enough come winter, Economy Minister Robe...

'Tame inflation, cut trade deficit'

'Tame inflation, cut trade deficit'

FE REPORT 2022-06-24 09:03:33

Leading economist Dr Ahsan H Mansur has suggested focusing more on taming inflation, reducing trade deficit by adopting contractionary import policy, instead of chasing ambitious GDP-growth target i...

MCCI proposes budget revisions, tax-ceiling raise

MCCI proposes budget revisions, tax-ceiling raise

FE REPORT 2022-06-24 08:46:52

A premier trade chamber Thursday urged the government to amend some provisions in the new budget, including raising the tax-free income limit because of high inflation. The Metropolitan Chamber of...

Bangladesh bags record foreign aid in outgoing FY

Bangladesh bags record foreign aid in outgoing FY

FHM HUMAYAN KABIR 2022-06-24 08:39:14

Bangladesh received a record amount of US$8.42 billion in foreign aid in 11 months of the current fiscal year, 47-percent higher over the previous corresponding period, despite global currency crunc...

Padma-Plus plan mooted to maximise bridge benefit

Padma-Plus plan mooted to maximise bridge benefit

FE REPORT 2022-06-24 08:25:36

Economists and experts suggest that the government should formulate an integrated Padma-Plus plan to maximise multiple benefits of the Padma Multipurpose Bridge (PMB), set for opening tomorrow. At a...

Bangladesh receives record $8.41b foreign loans in 11 months of FY22

Bangladesh receives record $8.41b foreign loans in 11 months of FY22

-- 2022-06-23 18:04:53

Bangladesh received a record US$8.41 billion in foreign loans in 11 months of the current FY22, the Economic Relations Division said on Thursday. At the current exchange rate, the amount is equivalen...

EU to help Bangladesh in improving capacity, safety at Ctg port

EU to help Bangladesh in improving capacity, safety at Ctg port

-- 2022-06-23 18:01:41

Bangladesh and the European Union (EU) have agreed to accelerate the removal of idle containers from the Chittagong Port premises in order to increase cargo-handling capacities and improve health and...

FY23 Budget: Call to reconsider tax withdrawal from plastic bags, impose higher tax

FY23 Budget: Call to reconsider tax withdrawal from plastic bags, impose higher tax

FE ONLINE REPORT 2022-06-23 17:42:44

Environment rights organisations on Thursday urged the government to reconsider the proposed tax withdrawal on all types of polythene bags and impose a higher tax on single-use plastic products. The...

India willing to support crisis-laden Sri Lanka's economic recovery

India willing to support crisis-laden Sri Lanka's economic recovery

-- 2022-06-23 17:10:47

India's top diplomat held talks with Sri Lanka's president and prime minister on Thursday as India signalled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already pro...

Samsung fined $9.7m in Australia over false water-resistance claims

Samsung fined $9.7m in Australia over false water-resistance claims

-- 2022-06-23 13:12:41

Australia's competition regulator said on Thursday a court has ordered the local unit of Samsung Electronics to pay a penalty of A$14 million ($9.65 million) over misleading claims about a water-resis...

ADB may lend $2.3b under development recipe

ADB may lend $2.3b under development recipe

SYFUL ISLAM 2022-06-23 08:33:12

The Asian Development Bank (ADB) may pledge to lend Bangladesh US$2.3 billion during 2023-2025 under an overall development recipe, at a time when the country launches a search for foreign-exchange...

Amount of defaulted loans crosses Tk 1.26 trillion, says finance minister

Amount of defaulted loans crosses Tk 1.26 trillion, says finance minister

-- 2022-06-22 22:58:24

Finance Minister AHM Mustafa Kamal on Wednesday said the amount of defaulted loans in the country has crossed Tk 1.26 trillion. Apart from this, another Tk 210.46 billion is stuck due to the order of...

‘Consumer behaviour to remain unpredictable globally for near future’

‘Consumer behaviour to remain unpredictable globally for near future’

-- 2022-06-22 22:03:03

Global retailers and consumer goods makers remain in crisis mode and expect consumer behaviour to remain unpredictable for the foreseeable future, top industry executives told a conference in Dublin t...

Monetary policy for FY23 to be unveiled on June 30

Monetary policy for FY23 to be unveiled on June 30

-- 2022-06-22 21:08:53

Bangladesh Bank (BB) will announce the monetary policy for the new fiscal year (2022-23) on June 30. Central bank’s governor Fazle Kabir will announce the monetary policy through a press confer...

Number of millionaires increases in January-March period: Bangladesh Bank

Number of millionaires increases in January-March period: Bangladesh Bank

-- 2022-06-22 20:29:37

Bangladesh has seen an increase in the number of millionaires in January to March period of 2022 despite the inflation threat fuelled by the Russia-Ukraine war and Covid-19 pandemic, according to Bang...

WPPF provisions to be detrimental to compliant taxpayers: FICCI

WPPF provisions to be detrimental to compliant taxpayers: FICCI

-- 2022-06-22 18:31:51

The Foreign Investor’s Chamber of Commerce and Industry (FICCI) has expressed some concerns about the proposed national budget for the fiscal year 2022-23 along with its probable implication for...

UK inflation hits 40-year record, highest in G7

UK inflation hits 40-year record, highest in G7

-- 2022-06-22 13:44:18

Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1 per cent last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-...

Microsoft stops selling emotion-reading tech

Microsoft stops selling emotion-reading tech

-- 2022-06-22 12:11:10

Microsoft Corp on Tuesday said it would stop selling technology that guesses someone's emotion based on a facial image and would no longer provide unfettered access to facial recognition technology....

Drive for budget deficit financing gets going

Drive for budget deficit financing gets going

FE ONLINE DESK 2022-06-22 10:28:45

An aggressive drive gets going for Bangladesh's budget-deficit financing as government officials are set to sit with the World Bank tomorrow (Thursday) for fund negotiations to begin with. Finance se...

Meta and other tech giants form metaverse standards body, without Apple

Meta and other tech giants form metaverse standards body, without Apple

-- 2022-06-22 10:27:32

Meta, Microsoft and other tech giants racing to build the emerging metaverse concept have formed a group to foster the development of industry standards that would make the companies' nascent digital...

Progress made in IMF-Pakistan talks on bailout programme

Progress made in IMF-Pakistan talks on bailout programme

-- 2022-06-22 10:22:36

Important progress has been made in talks between the International Monetary Fund and Pakistan to revive the country's bailout programme, the lender's resident representative in Islamabad said on Wedn...