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The Financial Express

Search results for: Economy

Euro zone economy to gain momentum in 2021 on Covid-19 vaccine hopes: Reuters poll

Euro zone economy to gain momentum in 2021 on Covid-19 vaccine hopes: Reuters poll

-- 2020-12-03 15:18:41

The euro zone economy will contract again this quarter as renewed lockdown measures stifle activity, according to a Reuters poll which showed the bloc’s GDP would then return to pre-crisis level...

Remitters' docs needn't be verified to disburse cash incentive for Tk half a million

Remitters' docs needn't be verified to disburse cash incentive for Tk half a million

SIDDIQUE ISLAM 2020-12-03 09:01:04

The central bank has relaxed its regulations for receiving cash incentives on the money sent by expatriate Bangladeshis further aiming to expedite the inflow of remittances despite the Covid-19 pand...

Govt to import 50,000 tonnes of parboiled rice from India

Govt to import 50,000 tonnes of parboiled rice from India

-- 2020-12-02 20:22:52

The government has approved a proposal to import 50,000 tonnes of parboiled non-Basmati rice from India in the year 2020-21 through international quotation. Additional Cabinet Secretary Abu Saleh Mos...

Govt to follow direct procurement method for vaccines

Govt to follow direct procurement method for vaccines

-- 2020-12-02 19:11:23

The government has decided to follow the direct procurement method (DPM) for procuring the vaccines for the Covid-19 considering it as a matter of urgent state necessity. The Cabinet Committee on Eco...

Maldives permits 84pc of resorts to reopen

Maldives permits 84pc of resorts to reopen

-- 2020-12-02 14:26:15

Some 84 per cent of resorts in the Maldives have been granted permission to reopen by the Ministry of Tourism since July, local media reported on Wednesday. Tourism Ministry statistics showed that 13...

US Fed chief says recovery slows amid economic reopening

US Fed chief says recovery slows amid economic reopening

-- 2020-12-02 14:16:20

US Federal Reserve Chairman Jerome Powell said Tuesday that economic activity has continued to recover from its depressed second-quarter level, but momentum has slowed down in recent months. Noting t...

With IFC support, Gazipur set to develop Bangladesh’s first public-private wastewater project

With IFC support, Gazipur set to develop Bangladesh’s first public-private wastewater project

FE Online Desk 2020-12-02 12:53:48

In a first-of-its-kind initiative, the industrial city of Gazipur near the capital Dhaka, Bangladesh will develop a wastewater and sludge treatment system with private sector participation in two of...

Import duties worth Tk 62b stuck in court cases

Import duties worth Tk 62b stuck in court cases

FE REPORT 2020-12-02 10:05:27

The National Board of Revenue (NBR) is failing to realise some Tk 62 billion import duty that is stuck with 15,777 pending cases, officials have said. The huge sum is blocked, as importers prefer t...

Remittance inflow grows over 41pc in five months

Remittance inflow grows over 41pc in five months

SIDDIQUE ISLAM 2020-12-02 09:05:20

The flow of inward remittances reached $10.90 billion in the first five months of the current fiscal year (FY 2020-21), registering an increase of more than 41 per cent, despite the ongoing Covid-19 p...

Bangladesh won’t fall into debt trap: Momen

Bangladesh won’t fall into debt trap: Momen

FE Online Report 2020-12-01 19:36:00

Bangladesh will not fall into the so-called debt trap due to its borrowing from China or India, Foreign Minister Dr AK Momen said on Tuesday. Many critics argue that since Bangladesh has undertaken a...

Bangladesh’s coastal communities deserve benefits from the blue economy: People’s Tribunal   

Bangladesh’s coastal communities deserve benefits from the blue economy: People’s Tribunal  

FE ONLINE REPORT   2020-12-01 19:29:23

Exploitation of Bangladesh’s marine resources may result in loss of bio-diversity and exclusion of coastal communities unless issues of rights and environment are addressed, a panel of inter-sta...

Ecnec okays much-sought third submarine cable project

Ecnec okays much-sought third submarine cable project

-- 2020-12-01 18:05:31

The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared four development projects, including Tk 6.93 billion (Tk 693-crore) one to install the third submarine cable. The s...

China recovery boosts Asian factories, but trouble seen ahead

China recovery boosts Asian factories, but trouble seen ahead

-- 2020-12-01 16:00:33

Asian factories continued to recover steadily in November thanks to a boom in economic powerhouse China, private surveys showed on Tuesday, offering hope the region was shaking off the drag from the C...

UN predicts record 235m people will need humanitarian help in 2021

UN predicts record 235m people will need humanitarian help in 2021

-- 2020-12-01 14:36:55

A record 235 million people will need humanitarian assistance next year, a near-40 per cent increase on 2020 which is "almost entirely from Covid-19," the UN's emergency relief chief said on Tuesday....

Canada unveils new economic relief package

Canada unveils new economic relief package

-- 2020-12-01 11:04:27

The Canadian government has unveiled a new financial programme worth billions of Canadian dollars to boost the country’s economy amid the coronavirus (Covid-19) pandemic. The programme titled "...

Dhaka eyes $1.2b WB hard-term loan for three development projects

Dhaka eyes $1.2b WB hard-term loan for three development projects

FHM HUMAYAN KABIR 2020-12-01 09:01:07

Bangladesh is likely to seek a hard-term World Bank (WB) loan worth US$ 1.2 billion to finance three of its development projects, officials said on Monday. They said the country may have to choose th...

Non-performing loans shown to have dropped but still close to Tk 1.0tn

Non-performing loans shown to have dropped but still close to Tk 1.0tn

SIDDIQUE ISLAM 2020-12-01 08:37:00

The default loans dropped slightly in September last as the central bank suspended the routine exercise of classification to help businesses overcome the adverse impact of Covid-19 pandemic. The volu...

NBR chairman in favour of special tax benefits to prevent money laundering

NBR chairman in favour of special tax benefits to prevent money laundering

-- 2020-11-30 23:27:19

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem has said ‘special tax benefits’ can be given to those who are laundering money abroad for fear of paying taxes in the c...

NBR extends deadline for tax returns until Dec 31

NBR extends deadline for tax returns until Dec 31

FE ONLINE REPORT 2020-11-30 16:46:41

The National Board of Revenue (NBR) has extended the deadline for tax return submission by individual taxpayers until December 31. The NBR Chairman Abu Hena Md Rahmatul Munim on Monday said the deadl...

National Income Tax Day on Monday

National Income Tax Day on Monday

-- 2020-11-29 19:12:04

The ‘National Income Tax Day-2019’ will be observed on Monday across the country aiming to create awareness among the people for payment of income tax regularly. The National Board of Rev...

Private external debt drops in FY20

Private external debt drops in FY20

FE Online Report 2020-11-29 11:53:57

External debt to the country’s private sector declined in the past fiscal year (FY20) mainly due to the outbreak of Covid-19. Statistics available with Bangladesh Bank showed that outstanding s...

Russian economy to fall by 4.5pc in 2020: official

Russian economy to fall by 4.5pc in 2020: official

Xinhua 2020-11-29 11:38:07

The Russian economy is projected to decline by 4.5 per cent this year, a senior official said Saturday. The drop will be "more than 4.0 per cent, (and) it will be even 4.5 per cent," Aleksei Kudrin...

Dhaka's foreign aid receipt up by about 20pc in July-Oct

Dhaka's foreign aid receipt up by about 20pc in July-Oct

FE REPORT 2020-11-28 10:26:15

Bangladesh's foreign aid inflow boosted in the first four months of the current fiscal year (FY), 2020-21, as the development partners disbursed 19 per cent higher funds than the corresponding period...

Bangladesh starts sending workers abroad

Bangladesh starts sending workers abroad

ARAFAT ARA 2020-11-28 08:41:08

Bangladesh has started sending workers abroad with jobs after months of uncertainty triggered by the Covid-19 pandemic. The Bureau of Manpower, Employment and Training (BMET) data showed that a total...

Supply chains of contract manufacturers to be more traceable thru VAT guideline

Supply chains of contract manufacturers to be more traceable thru VAT guideline

FE REPORT 2020-11-27 10:40:09

The contract manufacturers will enjoy a simplified VAT process for the production and supply of goods under a new guideline. The National Board of Revenue (NBR) issued the guideline on Tuesday to hel...

Deadline for disbursing stimulus money among smaller enterprises extended

Deadline for disbursing stimulus money among smaller enterprises extended

SIDDIQUE ISLAM 2020-11-27 09:43:05

The central bank has extended the deadline further to implement the stimulus package for cottage, micro, small and medium enterprises (CMSMEs) from November 30 to December 31. It has also relaxed reg...

Dhaka-Thimphu to ink PTA deal next month, says Bhutanese envoy

Dhaka-Thimphu to ink PTA deal next month, says Bhutanese envoy

-- 2020-11-26 20:38:29

Bhutan will sign the Preferential Trade Agreement (PTA) with Bangladesh in December to further enhance trade and commerce between the two countries. "All necessary works on the PTA have been complete...

UNCTAD asks Israel to end Gaza occupation that cost  $16.7b in past decade

UNCTAD asks Israel to end Gaza occupation that cost $16.7b in past decade

FE ONLINE REPORT 2020-11-26 19:38:21

The continued Israeli occupation brings the Gaza Strip in near-collapse as the cost is estimated at $16.70 billion in the past decade, 2007–2018 period to be specific. The latest report of the...

Switzerland keen to deepen economic ties with Bangladesh, says envoy

Switzerland keen to deepen economic ties with Bangladesh, says envoy

UNB 2020-11-26 18:21:26

Switzerland wants to strengthen and widen its ties with Bangladesh to explore ‘amazing potential’ together as Bangladesh is set to celebrate its 50 years of independence next year with Vis...

European tourism industry sees partial recovery amid pandemic

European tourism industry sees partial recovery amid pandemic

-- 2020-11-26 13:36:32

The European tourism industry only partially recovered amid the COVID-19 pandemic, as the contraction of the tourist accommodation sector moderated in summer, according to a Eurostat report. The Euro...