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May inward remittances down by 6.24pc

FE REPORT 2022-06-02 08:36:05

Volume of the country's inward remittances declined by around 6.24 per cent to US$1.88 billion in May of the current fiscal year over the previous month, official data revealed. Bangladeshis staying...

Govt approves purchasing 3.36m MMBtu LNG

-- 2022-06-01 20:09:08

The Cabinet Committee on Government Purchase (CCGP) has approved a total of 17 proposals, including the import of 3.36 million MMBTus (British thermal units) of LNG to meet the growing demand. The ap...

Sri Lanka seeks $3.0b under IMF Extended Fund Facility

-- 2022-06-01 19:34:21

Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender's extended fund facility (EEF), sources familiar with the matter told Reuters. The island...

'Local is king': Africa's online platforms take on Silicon Valley

-- 2022-06-01 19:13:17

Plan a funeral, call out corruption or start a business - tough jobs all now made easier by a generation of tech-savvy Africans tackling local problems beyond the grasp of Big Tech.It was frustratio...

Upcoming budget to focus on economic recovery, says finance minister

-- 2022-06-01 19:11:02

Finance Minister AHM Mustafa Kamal has said the upcoming national budget for the fiscal year 2022-23 will focus on economic recovery from uncertainties due to the Covid-19 impact and the Russia-Ukrain...

Asia's factory activity slows in May as China Covid curbs weigh

REUTERS 2022-06-01 13:46:55

Asia's factory activity slowed in May as China's heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some countries in the region that are already s...

Leather sector can hit $12b in export earnings by 2030

-- 2022-05-31 20:55:51

Speakers at a webinar on Tuesday stressed the need to work by integrating all concerned stakeholders to ensure compliance in the leather sector. They said the Ministry of Industries, Ministry of Envi...

Sri Lanka hikes tax rates, slashes taxpayers’ relief to boost revenue

-- 2022-05-31 19:02:16

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value-added taxes and corporate income tax, and slas...

China unveils detailed stimulus policies to support virus-hit economy

-- 2022-05-31 13:57:07

China's cabinet unveiled a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive a pandemic-ravaged economy, saying it will inspect how provincial...

Indian home prices to accelerate again

-- 2022-05-31 10:07:29

Indian house prices are set to accelerate this year to a pace not seen in half a decade, according to a Reuters poll of property analysts who also warned that higher interest rates will crimp affordab...

ADB stepped up support for Covid-19 response last year

FE ONLINE DESK 2022-05-30 21:58:48

The Asian Development Bank’s private sector operations stepped up support for the region’s response to the Covid-19 last year, dedicating 78 per cent of $4.3 billion in the total project a...

Bangladesh plans adopting payment systems of Hong Kong, Singapore

-- 2022-05-30 20:10:35

Bangladesh is considering adopting new payment methods developed in Hong Kong and Singapore as an alternative to move away from the SWIFT system and save up dollars. The government has instructed the...

WB to disburse $700m to Sri Lanka

-- 2022-05-30 19:46:45

The World Bank will disburse approximately USD 700 million to Sri Lanka within the next few months, Sri Lanka's foreign minister announced on Monday. This pledge was made when the World Bank's Countr...

Bangladesh received $1.65b as remittances in 26 days of May

-- 2022-05-30 18:21:33

The ministry of finance is expecting the growth of inward remittance by 16 per cent in the fiscal year FY23. Bangladesh has, meanwhile, received inward remittance of US$1.65 billion in 26 days of May...

Private sector credit flow up to 12.48pc

FE REPORT 2022-05-30 08:42:37

Private-sector credit flow increased further in April 2022 following rising demand for loans, particularly for trade financing, to settle import-payment obligations. The credit flow rose to 12.48 p...

Bangladesh Bank increases its key interest rate by 25 basis points to 5.0pc

-- 2022-05-29 21:40:27

The central bank has raised its key interest rate by 25 basis points to 5.0 per cent as part of its efforts to control consumer prices. The repo rate change, the first since July 2020, will be effect...

Bangladesh in strategic position to offer huge economic dividend to the region

Mir Mostafizur Rahaman from Guwahati 2022-05-29 20:38:19

Highlighting the geographical position of Bangladesh in the Indo-Pacific region, international experts on Sunday said that the country is set to gain a huge economic dividend by becoming the manufactu...

Taka to depreciate by Tk 1.10 against US dollar

SIDDIQUE ISLAM 2022-05-29 18:59:35

The exchange rate of the Bangladesh Taka (BDT) is going to depreciate largely against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations. The local cu...

How Bangladesh has surged past India on road to South Asian economic stardom

Syed Munir Khasru 2022-05-29 17:26:12

Since 2009, Bangladesh has maintained macroeconomic stability through prudent fiscal and debt management, along with expansion of its social security net and investment in infrastructure projects.&n...

Marketplace Analyst job open at Daraz

FE Online 2022-05-29 17:05:09

Daraz is the leading end-to-end e-commerce solution for South Asia (excluding India). Their business covers four key areas – e-commerce, logistics, payment infrastructure and financial services....

‘Digital platforms can enhance connectivity between people, budget-makers’

FE ONLINE REPORT 2022-05-29 16:38:32

By ensuring effective participation of the people in the making and implementation processes of the national budget, pro-people and inclusive development can be further accelerated, opined speakers an...

Join 10 Minute School as a Business Analyst

FE Online 2022-05-29 15:59:48

10 Minute School is the leading Edtech startup of Bangladesh, teaching more than 2m students online every day. It is also the only Bangladeshi startup to be backed by Sequoia Capital. 10MS believes in...

Sri Lanka to pay $72.6m for 90,000 tonnes Russian oil, minister says

-- 2022-05-29 10:46:27

Sri Lanka will pay $72.6 million to buy a 90,000-tonne shipment of Russian oil docked at Colombo's port for weeks, its energy minister said on Saturday, as the island nation works to restart its only...

Is Bangladesh's current $42bn forex reserve safe enough?

-- 2022-05-29 10:28:53

The recent rise of the US dollar against the taka and the bankruptcy of Sri Lanka have raised a burning question in the public sphere - whether Bangladesh’s foreign currency coffers are enough f...

Consumption surge secures growth, squeezes savings

JASIM UDDIN HAROON 2022-05-29 08:19:07

Bangladesh's economic growth has been fueled by a surge in consumption as a letup in the pandemic has unfrozen pent-up demand, but it costs people their savings. Such consumption binge, for example,...

Russia opens cases against Google, other foreign tech over data storage

-- 2022-05-28 18:05:57

Russia's communications regulator Roskomnadzor said on Friday it had opened administrative cases against Alphabet Inc's (GOOGL.O) Google and six other foreign technology companies for alleged violatio...

Banking sector facing big challenges, says central bank governor

-- 2022-05-28 18:04:05

Bangladesh Bank (BB) Governor Fazle Kabir on Saturday said the banking sector is currently facing big challenges of inflation and unstable foreign exchange rate in the post-Covid-19 period. “A...

Reaping maximum benefits from Padma Bridge: Experts for timely policy, support

MUNIMA SULTANA 2022-05-28 11:51:36

The country expects huge economic benefits from the dream Padma Bridge project, though experts suggest taking timely policy and supportive measures to reap maximum benefits from the country's longest...

Govt gets businesses' tips on trade boosting

SYFUL ISLAM and REZAUL KARIM 2022-05-28 08:44:30

Diversification of export destinations and pursuing a pragmatic export policy are among the dos in a contingency recipe the government has got from the business community for weathering headwinds fa...

Portugal seeks Bangladesh’s wider cooperation

-- 2022-05-27 18:47:57

Portugal has attributed Bangladesh's rapid rise in the economic and social sectors in recent times to the existing political stability under the leadership of Prime Minister Sheikh Hasina. Port...