Search results for: Economy

Euro zone business slump eased in June

-- 2020-07-04 15:29:12

The plunge in euro zone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, a survey has s...

Nepal's tourism sector incurs loss of $282m

-- 2020-07-04 12:48:16

Nepal's tourism industry is estimated to lose 34 billion Nepali Rupees (282 million US dollar) since the country’s government enforced lockdown in March to prevent the spread of COVID-19 pandemi...

Ctg Customs House misses FY '20 tax collection target

 Nazimuddin Shyamol 2020-07-04 10:22:15

The Chittagong Customs House (CCH) has failed to achieve the target of collection of taxes in the just-ended fiscal year (2019-20). Last year, the National Board of Revenue (NBR) fixed a Tk 582.98-bi...

Container growth slows in FY'20

JASIM UDDIN HAROON 2020-07-04 09:33:44

The growth in container handling at the country's prime sea port of Chittagong slowed down to nearly 3.0 per cent in the just-concluded fiscal year due to poor shipment. This is provisional statistic...

Bangladesh gearing up for new era of taxation

-- 2020-07-03 21:31:47

The government has chalked out a series of programmes to enter a new era of taxation from FY 2020-21 in the run-up to achieving Vision 2041 and reaching the Sustainable Development Goals 2030. "We mu...

FDI continues to plummet amid coronavirus crisis

-- 2020-07-03 21:14:40

The flow of foreign direct investment (FDI) into Bangladesh has continued to plummet amid the coronavirus crisis after FDI dropped by over 50 per cent in 2019 from the previous year. FDI dropped by 1...

ADB joins NGFS as observer

-- 2020-07-03 20:48:05

The Asian Development Bank (ADB) joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as an observer on June 23. NGFS, launched at the Paris One Planet Summit on...

BD lost Tk 40b export earnings for BJMC: Minister

-- 2020-07-03 19:25:51

Textiles and Jute Minister Golam Dastagir Gazi has blamed the Bangladesh Jute Mills Corporation (BJMC) for the current malaise in the flagging jute sector. He blamed the organisation for costing the...

UNDP launches Future of Work Lab in BD for resilient economy

FE Online Report 2020-07-03 19:18:41

The United Nations Development Programme (UNDP), in collaboration with its Bangkok Regional Hub, launched the Future of Work Lab in Bangladesh on Thursday aiming to facilitate and accelerate Banglades...

US trade deficit widens as exports fall to lowest level since 2009

REUTERS 2020-07-03 13:25:19

The US trade deficit widened in May as the Covid-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at its steepest...

ADP execution rate hits 10-yr low

FHM HUMAYAN KABIR 2020-07-03 09:28:12

The government's capacity for implementing the development projects dropped further last fiscal year, an analysis showed. The official data also showed that the development programme execution rate h...

Large taxpayers power NBR

Doulot Akter Mala 2020-07-03 09:25:28

Corporate tax payment by large taxpayers jumped by over 15 per cent during the just-concluded fiscal year, despite COVID-induced economic devastation. The growth is the highest in seven years, offici...

Forex reserve crosses $36b-mark for first time ever

FE Online Report 2020-07-02 20:00:53

Bangladesh’s foreign exchange (forex) reserve has crossed the US$36 billion-mark -- for the first time in history, following lower import payment obligations and higher growth of inward remittan...

Remittances hit record $18.20b in FY20

FE Online Report 2020-07-02 18:28:16

The flow of remittances grew by nearly 11 per cent to a record US$18.20 billion in the just-concluded fiscal year (FY) despite the ongoing Covid-19 pandemic, officials said. The figure in FY19 was $1...

US manufacturing activity rebounds in June

-- 2020-07-02 16:22:32

Economic activity in the US manufacturing sector rebounded in June, after three months of contraction amid mounting Covid-19 fallout, the Institute for Supply Management (ISM) reported Wednesday. The...

BB announces policy on export against payment guarantees

FE Online Report 2020-07-02 09:52:45

The central bank has issued a policy allowing banks to export goods under open account credit terms instead of letters of credit (LCs) with foreign payment guarantees. Under the new policy, exporters...

VAT reg display: Non-compliant firms face penalty

Doulot Akter Mala 2020-07-02 09:41:31

Businesses and shops may have to face penal action for not displaying VAT registration certificates on their premises from now on. The Value Added Tax implementation wing of the National Board of Rev...

RMG exports drop 19pc in FY'20

Monira Munni 2020-07-02 09:34:40

The country's readymade garment (RMG) exports declined by 18.84 per cent to US$ 27.70 billion in the just concluded fiscal year (FY 2019-20). The sector had fetched $ 34.13 billion in the FY 2018-19....

‘Supply rice at agreed price, otherwise we may go for import’

-- 2020-07-01 20:45:25

The government will import rice to keep the market stable in case the mill owners refuse to supply the staple at the agreed price, the food minister has warned. The market should never become volatil...

Flood condition posing threat to targeted Aus, Aman production

-- 2020-07-01 19:55:55

Deteriorating flood condition in several regions, due mainly to the onrush of water from the upstream of neighbouring India, has been posing threat to targeted production of Aus and Aman crop this yea...

Gulf economies to shrink by 7.6pc this year, IMF says

-- 2020-07-01 18:05:04

Gulf Cooperation Council (GCC) countries will see their economies shrink by 7.6 per cent this year, an International Monetary Fund official said on Tuesday, revising downwards April forecasts of nearl...

‘COVID-19 could wipe out gains in equality for women at work’

-- 2020-07-01 16:32:08

The coronavirus pandemic could wipe out "the modest progress" made on gender equality at work in recent decades with women globally at greater risk of losing their jobs, the International Labour Organ...

New York City passes $88 billion budget

-- 2020-07-01 16:15:52

The New York City Council voted to pass the 2021 budget on Tuesday night with cuts to police funding after weeks of fraught negotiations with Mayor Bill de Blasio, but some lawmakers complained it fel...

Indonesia's annual inflation falls to lowest in 20 years in June

-- 2020-07-01 13:25:50

The consumer price index in June logged the lowest level since May 2000 as the novel coronavirus pandemic stretched deep the country's economy and depressed demands. The National Agency of Statistics...

India records quarterly current account surplus for first time in 13 years

REUTERS 2020-07-01 11:19:46

India’s current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India...

NBFIs seek Tk 100b liquidity support

SIDDIQUE ISLAM 2020-07-01 09:36:25

Top executives of the non-bank financial institutions (NBFIs) have sought Tk 100-billion emergency support from the central bank to meet liquidity requirements amid the COVID-19 pandemic. The support...

Restarting economy: Decision outweighs dividend

JASIM UDDIN HAROON & SAIF UDDIN 2020-07-01 09:27:13

Hope ran high on easing restrictions on movement and economic activities, but one month on people from all walks of life are laregely disappointed by the outcome. The poor, in particular, are still st...

VAT information not mandatory to get bank loan

-- 2020-06-30 20:41:50

The National Board of Revenue (NBR) has withdrawn its directive to make Value Added Tax (VAT) information mandatory for approving bank loan proposals. The NBR took the decision so that taxpayers do n...

‘FDI to be very important for BD, UK for COVID-19 recovery’

-- 2020-06-30 17:38:57

British High Commissioner to Bangladesh Robert Chatterton Dickson has said foreign direct investment, including from the UK, would be very important for helping both Bangladesh and the UK economies re...

Greek economy to fall by 5.8pc in 2020: BoG

-- 2020-06-30 16:22:24

The Bank of Greece (BoG) expects the country's economy to shrink by 5.8 per cent this year in its baseline scenario, but risks related to the coronavirus pandemic could bring the economic contraction...