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The Financial Express

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Declaration of undisclosed money: Govt agencies won't ask questions about sources

Declaration of undisclosed money: Govt agencies won't ask questions about sources

FE REPORT 2020-08-26 09:34:32

The National Board of Revenue (NBR) chairman on Tuesday said the people concerned will be able to challenge in the court of law, if any government agency asks questions about the source while declarin...

Govt endorses five development projects worth TK 25.70b

Govt endorses five development projects worth TK 25.70b

FE Online Report 2020-08-25 15:56:29

The government on Tuesday in Dhaka endorsed five development projects at a combine cost of Tk 25.70 billion. Presided over by the Prime Minister Sheikh Hasina, the Executive Committee of the National...

Asia-Pacific govts meet to modernise official statistics to ensure no one is left behind

Asia-Pacific govts meet to modernise official statistics to ensure no one is left behind

FE Online Desk 2020-08-25 14:44:45

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) will bring together senior statisticians, government officials and leading experts this week to review how official s...

Global tourism lost $320 billion in five months from virus: UN

Global tourism lost $320 billion in five months from virus: UN

-- 2020-08-25 12:58:13

The tourism global industry has been devastated by the coronavirus pandemic, with $320 billion lost in exports in the first five months of the year and more than 120 million jobs at risk, the UN chief...

Nepal sees record high forex reserves in FY 2019-20

Nepal sees record high forex reserves in FY 2019-20

-- 2020-08-25 12:24:27

Nepal reported the record high foreign exchange reserves in the last fiscal year 2019-20 that ended in mid-July as the country's import slumped amid Covid-19 and less-than-estimated decrease in remitt...

Re-financing scheme: Loan disbursement time may be extended until December

Re-financing scheme: Loan disbursement time may be extended until December

REZAUL KARIM 2020-08-25 09:55:23

The period of loan disbursement by the banks concerned under the central bank's 'special incentive re-financing scheme for the agriculture sector' is likely to be extended until December next, sourc...

DSCC identifies 19 new sectors for collecting tax

DSCC identifies 19 new sectors for collecting tax

FE REPORT 2020-08-25 09:52:43

The authority of the Dhaka South City Corporation (DSCC) has identified 19 new areas for gearing up its revenue collection efforts for fiscal year 2020-21 (FY '21) aiming to provide better services to...

FRC warns against doctoring financials

FRC warns against doctoring financials

FE REPORT 2020-08-25 09:30:17

Financial watchdog has again warned against cooking up company financials. The Financial Reporting Council (FRC) said it will take tougher action as per the act if the practice is not stopped immedia...

Malaysia's latest economic index shows sign of recovery in H2

Malaysia's latest economic index shows sign of recovery in H2

-- 2020-08-24 14:12:02

Malaysia's leading index grew at a faster pace in June, rising 4.5 per cent year on year, signaling an economic recovery in the second half, said its statistics department Monday. Malaysian Statistic...

Govt eyes 30m jobs by 2030

Govt eyes 30m jobs by 2030

MONIRA MUNNI 2020-08-24 09:19:37

The government has drafted a policy aiming to create about 30 million fresh jobs by 2030, officials say. The policy, first of its kind, has put emphasis on employment based on subjects and sectors wi...

Inflation drops owing to low consumption amid pandemic

Inflation drops owing to low consumption amid pandemic

-- 2020-08-23 21:15:40

Bangladesh began FY21 with a drop in inflation and a researcher believes low consumption due to the coronavirus pandemic pushed the key indicator down. Point-to-point general inflation fell to 5.53 p...

JICA to implement a food value chain development project

JICA to implement a food value chain development project

-- 2020-08-23 17:25:42

The Japan International Cooperation Agency (JICA) will implement a food value chain development project at a cost of about Taka 8.82 billion to process agricultural products and expand agribusiness in...

Economic crisis caused by COVID-19 "most synchronised" in history, says economist

Economic crisis caused by COVID-19 "most synchronised" in history, says economist

Xinhua 2020-08-23 16:29:31

The economic crisis caused by the novel coronavirus pandemic is the "most synchronized" in history and its prospects of recovery is quite uncertain, Colombian economist Jose Antonio Ocampo said on Sat...

Better business environ needed to attract FDI

Better business environ needed to attract FDI

FE REPORT 2020-08-23 09:58:49

Disparity between local and foreign investors, a lack of improved business environment and corruption, among others, are key barriers to attracting foreign direct investment (FDI). Speakers, stretchi...

NBR decides to conduct internal survey this yr

NBR decides to conduct internal survey this yr

DOULOT AKTER MALA 2020-08-23 09:43:22

The National Board of Revenue (NBR) has decided to conduct this year internal survey involving different government agencies to net in new taxpayers, instead of the door-to-door survey carried out ear...

Financial sector clocks lower growth in FY'20

Financial sector clocks lower growth in FY'20

FHM HUMAYAN KABIR 2020-08-23 09:33:51

All the financial sub-sectors recorded decline in their growth rates in the immediate past fiscal year (FY 2019-20). The sub-sector (monetary intermediation) had the worst time in many years. Overall...

China's garment industry sees lower revenues in H1

China's garment industry sees lower revenues in H1

-- 2020-08-22 14:06:55

China's garment industry registered shrinking revenues and profits in the first half of the year, but the decline was narrower, data from the Ministry of Industry and Information Technology (MIIT) sho...

Nominal wage growth continues to decline

Nominal wage growth continues to decline

FE Online Report 2020-08-22 13:45:51

Country’s combined nominal wage rate of agriculture, industry and services in the last fiscal year (FY20) increased by the slowest pace in the last five years. Wage Rate Index (WRI), released b...

BB backs Basic Bank's stance

BB backs Basic Bank's stance

SYFUL ISLAM 2020-08-22 10:13:15

Bangladesh Bank (BB) has endorsed a stance of Basic Bank not to reschedule the loans, taken through fraudulent acts, by paying 2.0 per cent down payment, officials said. "The board of directors of...

Pandemic wreaks havoc on jobs, pay

Pandemic wreaks havoc on jobs, pay

Monira Munni and Saif Uddin 2020-08-22 10:02:04

Hundreds and thousands have lost their jobs while many others faced wage cuts due to the adverse impact of Covid-19 pandemic on all sorts of economic activities, according to available information. R...

Kamal urges banks to embrace digital tech

Kamal urges banks to embrace digital tech

FE REPORT 2020-08-21 09:49:31

Finance minister AHM Mustafa Kamal has exhorted both public and private banks to use digital financial inclusion to take services to customers' doorsteps through an easy and safer mode. "I'm hopeful...

TF formed to fight fake audit reports

TF formed to fight fake audit reports

FE REPORT 2020-08-21 09:44:39

The Central Intelligence Cell (CIC) has set up a task force (TF) to curb submission of fake audit reports by corporate taxpayers to taxmen. The team of intelligence officials will also ensure submiss...

Banks' excess liquidity hits record Tk 1.40t

Banks' excess liquidity hits record Tk 1.40t

SIDDIQUE ISLAM 2020-08-21 09:30:09

Banks' excess liquidity hit the all-time high of around Tk 1.40 trillion in June, fuelled by the government's higher borrowing from the country's banking system to partly meet its budget deficit. L...

South Korea's foreign debt grows to $503.1b in Q2

South Korea's foreign debt grows to $503.1b in Q2

-- 2020-08-20 16:22:13

South Korea's foreign debt grew in the second quarter (Q2) as foreigners bought local state bonds, the finance ministry said Thursday. The country's foreign debt amounted to 503.1 billion US dollars...

Bangladesh receives record foreign loans in pandemic

Bangladesh receives record foreign loans in pandemic

-- 2020-08-20 14:34:28

The government received a record 1.98 billion US dollar in loans from donor countries and agencies in June amid the coronavirus (COvid-19) pandemic. The previous highest total foreign loans in a mont...

India faces protracted slowdown as virus clouds rural revival

India faces protracted slowdown as virus clouds rural revival

REUTERS 2020-08-20 13:29:42

India is staring at a protracted slowdown as coronavirus cases reach its countryside, with signs of recovery in the rural economy hailed by Prime Minister Narendra Modi “at best a mitigating fac...

Large companies foresee poor sale, tax payment

Large companies foresee poor sale, tax payment

Doulot Akter Mala 2020-08-20 09:41:23

Most of the large taxpayers are apprehending a sharp slide or poor growth in their sale and probable payment of consumption tax in the current fiscal year (FY), 2020-21. They have apprised the Large...

Taiwan aims to become Asian financial hub

Taiwan aims to become Asian financial hub

-- 2020-08-19 13:32:01

Taiwan will further liberalise its economy and offer more financing products, aiming to become an Asian financial and asset management hub, President Tsai Ing-wen said on Wednesday, pitching the islan...

Savings certificates sales rise in pandemic

Savings certificates sales rise in pandemic

-- 2020-08-19 10:21:54

When people are struggling to earn enough to pay for basic needs like food and housing due to the coronavirus pandemic, sales of savings certificates have gone up in Bangladesh. Researchers have call...

ADB approves $50m to bankroll PPP infrastructure projects

ADB approves $50m to bankroll PPP infrastructure projects

FE Online Report 2020-08-18 18:14:24

The Asian Development Bank (ADB) on Tuesday approved US$50 million loan to Bangladesh for bankrolling some public-private partnership (PPP) infrastructure projects. The ADB financing will help implem...