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Bangladesh's growth put at 5.47pc last fiscal

Bangladesh's growth put at 5.47pc last fiscal

FHM HUMAYAN KABIR 2021-08-06 09:09:39

Bangladesh's GDP has plunged severely due to the Covid-19 in the fiscal year (FY) 2019-2020 as the country's gross domestic output expanded at the rate of 3.51 per cent, official data showed. The e...

Bangladesh Bank to mop up idle money

Bangladesh Bank to mop up idle money

SIDDIQUE ISLAM 2021-08-06 08:42:29

The central bank moves to mop up excess liquidity from the market as private credit squeeze for investment stagnation as against increased money supply bloated banking system. Economists also appre...

Minister Kamal bins CPD suggestion for checking income source of remiters

Minister Kamal bins CPD suggestion for checking income source of remiters

FE REPORT 2021-08-05 09:16:41

Finance Minister AHM Mustafa Kamal laughed off a think-tank's strong plea for crosschecking the source of income of remitters who send over US$5,000 at a time, as a robust remittance inflow amid the g...

Bangladesh loses Chinese investment momentum

Bangladesh loses Chinese investment momentum

FHM HUMAYAN KABIR 2021-08-05 08:36:50

Chinese investment bound for new destinations following US-China trade spat bypasses Bangladesh for unattractive bait, analysts say. Vietnam, Bangladesh's inveterate competitor on the global apparel...

Bangladesh's trade in services gap stands at $3b

Bangladesh's trade in services gap stands at $3b

FE Online Report 2021-08-04 11:52:36

The country’s deficit in trade in services with the rest of the world stood at $3.01 billion in the last fiscal year (FY21). This gap records 17 per cent rise over the previous fiscal year's tr...

Bangladesh's trade deficit snowballing as imports far outstrip exports

Bangladesh's trade deficit snowballing as imports far outstrip exports

SIDDIQUE ISLAM 2021-08-04 08:55:51

Trade deficit of Bangladesh widened by nearly 28 per cent in the just-concluded fiscal year for higher import-payment pressure on the economy amid lower receipts from external trade, officials said....

Health ministry worst performer among top 10 budget recipients

Health ministry worst performer among top 10 budget recipients

FE REPORT 2021-08-04 08:31:51

The health ministry could spend only 58 per cent of the ADP allocation in the last fiscal year (FY), which was the worst among top 10 recipients of the development budget, officials said on Tuesday....

Digital platform economy and Bangladesh

Digital platform economy and Bangladesh

Fahmida Khatun, Syed Yusuf Saadat and Md Jahurul Islam 2021-08-03 21:54:59

Digital platforms have become a quintessential part of the modern economy. They have revolutionised many sectors, including housing, retail and transportation. New types of transactions, such as ride-...

CPD urges for new price index to make inflation estimate practical

CPD urges for new price index to make inflation estimate practical

FE ONLINE REPORT 2021-08-03 13:06:51

A leading think-tank has suggested developing a new consumption basket for making inflation estimate more realistic and thus set an appropriate monetary target. The Centre for Policy Dialogue (CPD) m...

IMF increases SDR allocation to US$650b

IMF increases SDR allocation to US$650b

fe 2021-08-03 08:59:25

The Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion) on Monday to boost g...

Remittance inflow into Bangladesh falls 28pc to $1.87b in July

Remittance inflow into Bangladesh falls 28pc to $1.87b in July

-- 2021-08-03 08:53:02

The flow of inward remittances dropped significantly in July, following the second wave of the ongoing Covid-19 pandemic, officials said. The inflow of remittances plunged by nearly 28 per cent or US...

Bangladesh Bank launches probe into stimulus loans

Bangladesh Bank launches probe into stimulus loans

SIDDIQUE ISLAM 2021-08-03 08:25:21

A probe gets underway to ascertain whether the Covid stimulus lending follows proper manner and the use of the money from the packages is done for the right purposes, as some faults were already found...

Yields of treasury bonds may decline further

Yields of treasury bonds may decline further

FE ONLINE REPORT 2021-08-02 20:14:11

After facing a big decline in the last fiscal year (FY21), yields of Bangladesh government’s long-term bonds are likely to drop further in the current year. World Government Bond, a virtual pla...

Asian factory activity hit by rising costs

Asian factory activity hit by rising costs

-- 2021-08-02 10:47:14

Asia's factories hit a rough patch in July as rising input costs and a new wave of coronavirus infections overshadowed solid global demand, highlighting the fragile nature of the region's recovery. M...

Bangladesh's trade deficit may exceed $26b

Bangladesh's trade deficit may exceed $26b

SIDDIQUE ISLAM 2021-08-02 08:42:34

Bangladesh's overall trade deficit may cross US$26 billion by this fiscal yearend as trading sector faces unprecedented headwind while a healthy balance-of-payments position continues for lesser impor...

System of electronic tax deducted at source to be introduced soon

System of electronic tax deducted at source to be introduced soon

DOULOT AKTER MALA 2021-08-01 08:42:59

The taxpayers would soon be able to adjust or claim a tax credit or seek a refund of their paid advance income tax (AIT) under the electronic tax deducted at source (e-TDS) system. The tax authorit...

Call for rationalising duty, VAT on dredging equipment

Call for rationalising duty, VAT on dredging equipment

FE REPORT 2021-08-01 08:32:39

Experts at a programme on Saturday called for rigorous river training and river dredging to revive the country's waterways for transportation of goods and passengers at the cheapest rate. Besides, th...

BUILD urges central bank to support services sector

BUILD urges central bank to support services sector

FE REPORT 2021-08-01 08:27:27

The central bank has been urged to extend policy support to the services sector under its monetary policy, which was announced on Thursday last, as a strategy to prevent fund diversion to unproducti...

Vietnam crosses Bangladesh, turns second largest RMG exporter globally

Vietnam crosses Bangladesh, turns second largest RMG exporter globally

FE ONLINE REPORT 2021-07-31 13:32:39

By maintaining a persistent growth in most of the years in last decade, Vietnam crossed Bangladesh to become the second largest clothing exporter globally in 2020. World Trade Statistical Review 2021...

Russia blames software failure after space station briefly thrown out of control

Russia blames software failure after space station briefly thrown out of control

Reuters 2021-07-31 11:45:35

A software glitch, and possible lapse in human attention, were to blame for throwing the International Space Station out of control, but work was proceeding to activate a newly attached module at the...

Execution of foreign-funded projects being hampered

Execution of foreign-funded projects being hampered

FHM HUMAYAN KABIR 2021-07-31 09:48:02

The execution of development projects, especially those funded by donors and mega ones, is hit hard by the Covid-19 pandemic. The disruption caused to the supply of essential materials and technical...

Lockdown dealing a severe blow to low-income people

Lockdown dealing a severe blow to low-income people

JUBAIR HASAN 2021-07-31 08:42:41

The ongoing strict lockdown imposed to stem the spread of coronavirus is dealing a severe blow to the low-income people, especially those in the informal sector. In fact, the restrictions on movement...

All export-oriented industries in Bangladesh will resume operations on Aug 01

All export-oriented industries in Bangladesh will resume operations on Aug 01

-- 2021-07-30 18:45:10

The Bangladesh government has allowed export-oriented factories to resume production on Aug 1 amid the ongoing coronavirus lockdown.   The Cabinet Division announced the decision on Friday...

NASA says International Space Station briefly loses control due to misfire of Russian module

NASA says International Space Station briefly loses control due to misfire of Russian module

REUTERS 2021-07-30 11:55:10

The International Space Station (ISS) was thrown briefly out of control on Thursday when jet thrusters of a newly arrived Russian research module inadvertently fired a few hours after it was docked to...

World Bank lauds Bangladesh's growth, despite downturn

World Bank lauds Bangladesh's growth, despite downturn

-- 2021-07-30 09:52:15

The World Bank has acknowledged Bangladesh’s remarkable economic development and growth, and reassured the global lender's continued support for this country's prosperity. Private Industry and...

Finance minister Kamal unaware of fund diversion to bourses

Finance minister Kamal unaware of fund diversion to bourses

FE REPORT 2021-07-30 08:31:05

Finance minister AHM Mustafa Kamal on Thursday said he did not know whether the money of the pandemic-linked stimulus packages was channelled to the stock market, creating bubble in bourses. Mr Kamal...

Monetary policy targets hardly attainable: Experts

Monetary policy targets hardly attainable: Experts

JASIM UDDIN HAROON 2021-07-30 08:23:37

The monetary policy targets, set for the current fiscal year (FY), 2021-22, are hardly achievable during the time of Covid-19 pandemic, according to economists and businesses. The Bangladesh Bank (...

Bangladesh goes ahead with expansionary monetary policy

Bangladesh goes ahead with expansionary monetary policy

SIDDIQUE ISLAM 2021-07-30 08:19:09

The central bank has announced to continue with its ongoing expansionary monetary policy amid a cautious stance for the current fiscal year (FY) to help boost recovery of the pandemic-hit economy. Th...

Addressing the core problems of SSN schemes

Addressing the core problems of SSN schemes

KAS Murshid 2021-07-29 20:30:34

We are going through an unprecedented emergency in the form of this pandemic. Everything is very uncertain and we do not know what will unfold next. When we are thinking about social safety nets, the...

IFAD projects helped 123m rural people across the globe in 2020

IFAD projects helped 123m rural people across the globe in 2020

FE ONLINE REPORT 2021-07-29 19:54:08

The UN's International Fund for Agricultural Development (IFAD) projects were able to reach 123 million rural people across the globe in 2020 including Bangladesh, says a report published on Thursday....