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The Financial Express

Search results for: Economy

NBR on the hunt as tax shortfall looms

NBR on the hunt as tax shortfall looms

Doulot Akter Mala 2020-05-29 10:08:34

The National Board of Revenue, or NBR, has stepped in to bring the tax defaulters, who owe over Tk 0.5 million to the government, under its scanner. The income tax department of the board has instruc...

Govt cuts investment ceiling in postal savings bank by two-thirds

Govt cuts investment ceiling in postal savings bank by two-thirds

SYFUL ISLAM 2020-05-29 09:22:07

The government has cut the investment ceiling in postal savings instruments by two thirds taking into consideration their high interest rate, officials have said. From now on, for both term and ordin...

Jt initiative of Amar Foods, Esho Shobai

Jt initiative of Amar Foods, Esho Shobai

FE Online Desk 2020-05-28 12:43:26

It all started in the early hours of Eid day. School teacher Abdur Rahman from Sadullahpur, Gaibandha was utterly surprised by the unique gesture of receiving EID essential groceries from Amar Fo...

South Korea cuts rates, flags worst year for economy since 1998

South Korea cuts rates, flags worst year for economy since 1998

Reuters 2020-05-28 12:17:43

South Korea’s central bank cut interest rates to a record low on Thursday as it warned the coronavirus pandemic would be worse for Asia’s fourth-largest economy than the 2008 global financ...

Fashion brands that 'exploit' BD suppliers face blacklisting

Fashion brands that 'exploit' BD suppliers face blacklisting

Thomson Reuters Foundation 2020-05-28 12:07:17

Bangladeshi manufacturers said on Wednesday that they would blacklist Western fashion brands that “exploit” them by failing to pay their bills due to the new coronavirus crisis, days after...

COVID-19 knocks a third of European FDI

COVID-19 knocks a third of European FDI

-- 2020-05-28 09:52:36

Over a third of European foreign direct investment (FDI) projects announced in 2019 have been either delayed or cancelled outright because of the coronavirus pandemic, according to a survey. The annu...

EU unveils €750b plan for coronavirus recovery

EU unveils €750b plan for coronavirus recovery

-- 2020-05-27 18:17:21

The European Commission has unveiled a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an...

HSBC provides ‘Thank You’ lunch to COVID-19 healthcare providers 

HSBC provides ‘Thank You’ lunch to COVID-19 healthcare providers 

FE Online Desk 2020-05-27 18:10:22

The Hongkong and Shanghai Banking Corporation Limited (HSBC) in Bangladesh in partnership with The Ministry of Civil Aviation & Tourism and Bangladesh Red Crescent Society reached out to 3000 he...

FDI net inflows into Philippines reach $657m in Jan

FDI net inflows into Philippines reach $657m in Jan

-- 2020-05-27 16:17:14

Foreign direct investment (FDI) net inflows into the Philippines grew by 12.1 per cent in January this year to reach 657 million US dollars from 586 million US dollars posted in previous year, the BSP...

Asia Clean Energy Forum to be held virtually

Asia Clean Energy Forum to be held virtually

-- 2020-05-27 12:42:17

The15th annual Asia Clean Energy Forum (ACEF) will be held as a virtual and live-streamed event on June 15-19 focusing on a sustainable future. The Asian Development Bank (ADB), the US Agency for Int...

Embassy of Bangladesh, Beijing rejoinder

Embassy of Bangladesh, Beijing rejoinder

FE Online Desk 2020-05-27 12:32:18

The Bangladesh Embassy in Beijing, China has sent a rejoinder to a news item published on the The Financial Express (Online) on May 23, 2020 under the headline ‘China exit: Japanese firms keen o...

India facing one of its worst recessions: CRISIL

India facing one of its worst recessions: CRISIL

-- 2020-05-27 10:57:27

Global rating and research agency CRISIL has said that India was facing one of its worst phases of recession, amid the Lockdown imposed to contain novel coronavirus (COVID-19) pandemic outbreak. In a...

COVID-19 could cost Mexico a million jobs: President

COVID-19 could cost Mexico a million jobs: President

-- 2020-05-26 15:15:51

Mexican President Andres Manuel Lopez Obrador has said that the novel coronavirus could cost as many as a million jobs in the country as many industries considered not essential remain shut. The Mexi...

Singapore cuts 2020 GDP outlook again

Singapore cuts 2020 GDP outlook again

-- 2020-05-26 12:24:52

Singapore downgraded its 2020 gross domestic product (GDP) forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. The city-s...

BEXIMCO forays into US with 6.5m PPE gowns

BEXIMCO forays into US with 6.5m PPE gowns

FE Online Desk 2020-05-25 17:36:31

In a landmark, Bangladesh joined the select group of countries that manufacture world-class, large-scale Personal Protective Equipment (PPE) by shipping 6.5 million PPE gowns to US brand Hanes, for ul...

Corona spoiled China’s chances of setting 6.0pc growth goal: Xi

Corona spoiled China’s chances of setting 6.0pc growth goal: Xi

REUTERS 2020-05-25 14:27:09

Chinese President Xi Jinping said China’s annual economic growth target could have been set around 6.0 per cent had the new coronavirus epidemic not happened, according to state media reports on...

US economist warns of 10 years of depression and debt

US economist warns of 10 years of depression and debt

BBC 2020-05-24 15:54:07

American economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini, who teaches at New Y...

China exit: Japanese firms keen on moving to BD

China exit: Japanese firms keen on moving to BD

FE ONLINE REPORT 2020-05-23 12:16:11

At least 34 Japanese companies operating in China have shown interest to relocate their units to Bangladesh. The embassy of Bangladesh in Beijing informed the development to the ministry of foreign a...

Non-bank debts halve on NSC sales slump

Non-bank debts halve on NSC sales slump

Siddique Islam 2020-05-23 09:21:44

The government has slashed its non-bank borrowing target by half to Tk 150 billion to finance the budget deficit of the current fiscal year ending on June 30, officials said. The government's net non...

Agriculture sector should get priority in next budget: Speakers

Agriculture sector should get priority in next budget: Speakers

FE Online Desk 2020-05-22 23:31:04

Speakers at a virtual seminar have demanded to prioritise agriculture sector in the budget of 2020-21 fiscal year to minimise the economic impact during post-pandemic period. They also said the gover...

Malaysian economy may face sharp slowdown in near future

Malaysian economy may face sharp slowdown in near future

-- 2020-05-22 15:16:01

Malaysia's latest data on Friday indicated that the country may be facing a sharp slowdown. According to Malaysian Statistics Department statement, the latest leading index (LI) which is compiled to...

China drops annual growth target for first time since 1990

China drops annual growth target for first time since 1990

REUTERS 2020-05-22 15:13:37

China dropped its annual growth target for the first time on Friday and pledged more government spending as the COVID-19 pandemic hammers the world’s second-biggest economy, setting a sombre ton...

A crisis that has blunted the euro's global profile

A crisis that has blunted the euro's global profile

REUTERS 2020-05-22 12:25:20

The coronavirus crisis may have dealt a lethal blow to the idea that the euro could one day replace the dollar as the world’s preferred currency, by exposing euro zone frailties and cementing th...

Pandemic could push 60m into ultra poverty globally

Pandemic could push 60m into ultra poverty globally

FE Report 2020-05-22 10:17:55

The World Bank has warned that as many as 60 million people worldwide could be pushed into extreme poverty due to the impact of the deadly coronavirus. "Our estimate is that up to 60 million people w...

Govt takes up Tk 70b project to create self-employment

Govt takes up Tk 70b project to create self-employment

-- 2020-05-22 10:10:22

The youth and sports ministry has taken up a Tk 70 billion project to create self-employment and alleviate poverty. It aims at making the huge portion of the population, who have left the cities due...

Thrust on giving priority to health sector in next budget

Thrust on giving priority to health sector in next budget

FE Report 2020-05-22 09:56:01

Speakers at a virtual seminar on Thursday stressed the need for giving priority to the health sector in the budget for fiscal year 2020-21 and utilising allocation properly to revive the coronavirus-r...

Amphan ravages Rajshahi mango hub

Amphan ravages Rajshahi mango hub

FHM Humayan Kabir 2020-05-22 09:49:35

The cyclone Amphan has dealt a body blow for mango farmers in the Rajshahi region, already reeling under the coronavirus outbreak, victims and officials said on Thursday. The very severe storm that p...

PRAN-RFL distributes relief among another 11 thousand families

PRAN-RFL distributes relief among another 11 thousand families

FE Online Desk 2020-05-21 23:18:35

PRAN-RFL Group, one of the leading conglomerates of Bangladesh is distributing food items to more than 11 thousand poor families across the country. The organization has started food distribution in t...

China's large-scale COVID-19 testing may pave way for strong economic recovery, US economist says

China's large-scale COVID-19 testing may pave way for strong economic recovery, US economist says

Xinhua 2020-05-21 19:56:57

China's large-scale COVID-19 testing may pave the way for a strong economic recovery, a renowned US economist has said. "Although there are no official national data on the number of tests that have...

Lawmakers recommend protection of bidi industry, slashing taxes in budget

Lawmakers recommend protection of bidi industry, slashing taxes in budget

FE ONLINE REPORT 2020-05-21 18:40:24

More than 50 lawmakers from different areas of the country have submitted demi official (DO) letters to the Prime Minister and the National Board of Revenue (NBR) recommending reduction of existing ta...