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The Financial Express

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Pandemic creates a situation of hidden hunger in Bangladesh

Pandemic creates a situation of hidden hunger in Bangladesh

FE ONLINE DESK 2020-08-18 15:23:54

The coronavirus pandemic has created a situation of hidden hunger in Bangladesh, which can be detrimental to the physical and mental development of infants and children, according to a study report....

Malaysia's inflation declines 1.3pc in July

Malaysia's inflation declines 1.3pc in July

-- 2020-08-18 14:35:52

Malaysia's inflation, measured by consumer price index (CPI), declined 1.3 per cent year-on-year in July, official data showed Tuesday. The Malaysian Statistics Department said in a statement that th...

Egypt's unemployment rate up to 9.6pc in Q2

Egypt's unemployment rate up to 9.6pc in Q2

-- 2020-08-18 12:06:09

Egypt's unemployment rate rose to 9.6 per cent in the second quarter of 2020 from 7.7 per cent in the previous quarter of the year due to the coronavirus outbreak, the state-run statistics agency has...

Forex reserves cross $38b for first time

Forex reserves cross $38b for first time

-- 2020-08-18 09:55:45

Bangladesh’s foreign exchange reserves have crossed US$38 billion mark for the first time amid the coronavirus pandemic. The central bank's foreign reserves reached the milestone on Monday than...

Service-sector export earnings drop 5.56pc

Service-sector export earnings drop 5.56pc

FE REPORT 2020-08-18 09:30:50

Bangladesh's export earnings from the service sector stood at US$6.13 billion registering a 5.56 per cent negative growth in the just-concluded fiscal year 2019-20, the official data showed. The coun...

Govt lobbying hard for WB budget aid

Govt lobbying hard for WB budget aid

FHM HUMAYAN KABIR 2020-08-18 09:20:51

The government is trying to receive $250 million budget support the World Bank pledged to offer, helping the country lower its fiscal deficit in the current financial year, officials said on Monday....

‘CPD actually acts on assumption, BBS deals with data’

‘CPD actually acts on assumption, BBS deals with data’

-- 2020-08-17 20:41:10

Dismissing recent statement of Centre for Policy Dialogue (CPD) on the country’s GDP growth, Finance Minister AHM Mustafa Kamal on Monday said the CPD acts on assumptions, whereas the Bangladesh...

US overtakes UAE as second biggest remittance hotspot for Bangladeshis

US overtakes UAE as second biggest remittance hotspot for Bangladeshis

-- 2020-08-17 20:09:48

Bangladesh has seen an increase in the remittance sent from the United States, the biggest economy in the world, along with an upward trend in investment in NRB savings bonds. Bangladeshi expatriates...

Thailand suffers biggest economic slump since 1998

Thailand suffers biggest economic slump since 1998

REUTERS 2020-08-17 15:36:39

Thailand’s economy suffered its biggest annual contraction since the Asian financial crisis in the second quarter due to the fallout of the coronavirus, prompting the government to slash its GDP...

Singapore's non-oil domestic exports grows by 6pc on year in July

Singapore's non-oil domestic exports grows by 6pc on year in July

-- 2020-08-17 12:36:43

Singapore's non-oil domestic exports (NODX) grew by 6.0 per cent year on year in July, after the revised 13.9 per cent increase in the previous month, Enterprise Singapore, a government agency, announ...

Exports to China drop more than India in FY20

Exports to China drop more than India in FY20

FE Online Report 2020-08-17 10:23:29

The country’s receipt from exports in goods to China dropped heavily in the last fiscal year (FY20) compared to the decline in exports to India during the same period. Statistics compiled by Ex...

Japan's economy shrinks at record pace as pandemic wipes out 'Abenomics' gains

Japan's economy shrinks at record pace as pandemic wipes out 'Abenomics' gains

REUTERS 2020-08-17 09:59:55

Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policymakers under pressure for bolder action to...

BB to ask banks, NBFIs to pace up

BB to ask banks, NBFIs to pace up

Siddique Islam 2020-08-17 09:31:15

The central bank is set to ask the banks and non-banking financial institutions (NBFIs) for faster implementation of the stimulus packages particularly the one for the CMSMEs to speed up recovery of...

CPD questions GDP growth data

CPD questions GDP growth data

FE REPORT 2020-08-17 09:29:28

The Centre for Policy Dialogue (CPD) on Sunday expressed reservations about the government's provisional estimate of real GDP growth rate for the fiscal year (FY) 2019-20, arguing it does not provide...

Dhaka nudges KL to launch FTA talks

Dhaka nudges KL to launch FTA talks

SYFUL ISLAM 2020-08-17 09:21:04

Bangladesh is pushing Malaysia for starting formal negotiations on signing a free trade area or FTA agreement as both had earlier agreed on such a deal to boost bilateral trade, officials say. The mi...

S Arabia inflation jumps to 6.1pc in July

S Arabia inflation jumps to 6.1pc in July

-- 2020-08-16 14:47:05

Saudi Arabia’s consumer price index jumped 6.1 per cent in July compared with a year earlier, boosted by a tripling of value-added tax, official data showed on Sunday. The inflation rate in Jun...

Bangladesh a South Asian miracle, ToI says citing WDIs

Bangladesh a South Asian miracle, ToI says citing WDIs

FE ONLINE DESK 2020-08-16 14:08:54

To paint a picture of how India, Pakistan and Bangladesh have fared so far on living standards of people, Times of India in an article says Bangladesh is a South Asian miracle. The Indian media publi...

Provisional GDP estimates didn’t capture Covid impact: CPD

Provisional GDP estimates didn’t capture Covid impact: CPD

FE ONLINE REPORT 2020-08-16 11:59:29

The provisional estimates of the country’s Gross Domestic Product (GDP) did not capture the impact of the Covid-19 pandemic on Bangladesh economy in the last fiscal year (FY20), according to a l...

NBR works out ways to legalise undisclosed cash; circular next month

NBR works out ways to legalise undisclosed cash; circular next month

DOULOT AKTER MALA 2020-08-16 10:01:53

People having undisclosed cash are expected to get the chance to legalise their money in three methods while filing return during the current fiscal year. The taxmen may allow the relevant taxpayers...

Project underway to help employ urban youths, migrant returnees

Project underway to help employ urban youths, migrant returnees

FHM HUMAYAN KABIR 2020-08-16 09:37:00

The World Bank (WB) is set to provide $150-million to create employment opportunities for low-income urban youths and migrant returnees and raise their productivity level, officials at the Economic Re...

Govt eyes dent in inequality

Govt eyes dent in inequality

FE REPORT 2020-08-16 09:34:16

The government expects a significant improvement in income inequality from its peak, amid sluggish economic activities. It eyes Gini coefficient-a measure of income distribution where 0 represents pe...

India to inject $1.46t to turnaround virus-hit economy

India to inject $1.46t to turnaround virus-hit economy

-- 2020-08-15 20:22:50

India’s prime minister said Saturday his country has done well in containing the coronavirus pandemic and announced $1.46 trillion in infrastructure projects to boost the sagging economy, report...

Industrial engine loses steam

Industrial engine loses steam

FHM Humayan Kabir 2020-08-15 09:23:18

Bangladesh's industrial growth slumped in the last fiscal year, mainly due to the COVID pandemic, the government data show. The sector recorded notable growth in the previous couple of years. The man...

Pandemic leaves 20,000 people jobless in Khulna city alone

Pandemic leaves 20,000 people jobless in Khulna city alone

-- 2020-08-14 19:20:52

The coronavirus outbreak has left around 20,000 workers in Khulna city without a job over the last four months and forced the closure of 20 per cent business establishments. Another 20,000 workers of...

Malaysia's economy contracts 17.1pc in second quarter

Malaysia's economy contracts 17.1pc in second quarter

-- 2020-08-14 16:48:33

The Malaysian economy contracted 17.1 per cent year on year in the second quarter (Q2), the worst slump since the fourth quarter of 1998, official data showed Friday. Malaysian Central Bank, Bank Neg...

Economists caution against complacency about robust remittance inflow

Economists caution against complacency about robust remittance inflow

-- 2020-08-14 11:21:39

The record inflow of remittance in the last two months should not give any sense of complacence for Bangladesh as the situation in overseas labour market remains fluid and the migrant workers are poss...

Indonesia must use pandemic to reboot S Asia’s biggest economy: President

Indonesia must use pandemic to reboot S Asia’s biggest economy: President

-- 2020-08-14 10:41:29

Indonesia must use the pandemic to reboot Southeast Asia’s biggest economy, including by improving food and energy security, as well as processing more natural resources at home, President Joko...

Fisheries sector entrepreneurs get Tk 260m loans so far

Fisheries sector entrepreneurs get Tk 260m loans so far

TALHA BIN HABIB 2020-08-14 09:57:48

The government has disbursed around Tk 260 million as loans to the entrepreneurs of fisheries sector to help offset the financial losses due to the Covid-19 pandemic, an official said. The loans have...

Govt cranks up bank borrowing

Govt cranks up bank borrowing

SIDDIQUE ISLAM 2020-08-14 09:20:55

The government started the new fiscal year with higher bank borrowing as July loans figure almost doubled as revenue collection fell, officials say. Its borrowing reached Tk 130.87 billion in the fir...

‘BD economy shows signs of positive growth despite global recession’

‘BD economy shows signs of positive growth despite global recession’

-- 2020-08-13 18:47:35

Bangladesh might be one of only two ASEAN and South Asian economies to register positive growth in 2020 when the world is almost certainly bound to a devastating recession caused by the coronavirus pa...