Search results for: Economy

‘Tourism sector to lose Tk 97.05b during Feb-June period’

-- 2020-04-01 22:10:21

Bangladesh chapter of Pacific Asia Travel Association (PATA) has predicted that overall tourism sector of the country would incur a loss of approximately Tk 97.05 billion from February to next June 20...

‘COVID-19 may pull down BD’s growth even below 6.0pc’

FE Online Report 2020-04-01 21:03:24

The impacts of COVID-19 on the country’s economic growth, job losses and upsurge in poverty are expected to be large, observed an economist.  Though the Gross Domestic Product (GDP) of Ban...

G20 finance ministers to deliver roadmap in response to COVID-19

-- 2020-04-01 20:21:06

Finance ministers and central bank governors of the G20 member states has agreed on delivering a roadmap in response to the novel coronavirus. The ministers met on Tuesday through a virtual meeting f...

Single digit interest rate on lending comes into effect

-- 2020-04-01 19:34:15

Banks in the country started implementing single digit 9.0 per cent interest rate for all kinds of loans except credit cards in compliance with the government directives, reports UNB.  Banking i...

China to fully open asset management market as planned despite coronavirus

Global Times 2020-04-01 19:24:29

China will stick to the plan of opening its trillion-dollar asset management market to overseas institutions in April, a gesture that signals the country's determination to open up despite the coronav...

Detailed analysis a must, says BUILD

FE Online Desk 2020-04-01 18:02:51

In view of COVID-19 pandemic, BUILD, a private think tank stressed the need for detailed analysis by a pool of researchers to understand and assess need of the country and also to understand short,...

Huawei releases 2019 Annual Report

FE Online Desk 2020-04-01 16:56:31

Huawei released its 2019 Annual Report on Tuesday in Shenzhen, China, detailing a solid business performance. The company's global sales revenue in 2019 rounded off at CNY858.8 billion (USD 123 billi...

Asia's factory activity plunges as virus shock deepens

Reuters 2020-04-01 11:54:20

Factory activity contracted sharply across most of Asia in March as the coronavirus pandemic paralysed economic activity across the globe, with sharp falls in export power-houses Japan and South Korea...

‘Forget budget deficit, immediate focus is human lives & livelihoods’

FE ONLINE REPORT 2020-04-01 11:31:08

Traditionally, finance ministers of the country keep the budget deficit within 5.0 per cent or so of the Gross Domestic Product (GDP).  But in the current fiscal year (FY20) there is no need to...

PwC detects ambiguities in tax laws  

FE REPORT 2020-04-01 10:05:26

The PricewaterhouseCoopers, Bangladesh, has identified inconsistencies in tax laws, including taxation on Alternative Investment Fund (AIF), capital gain and tax deducted at source in the distribution...

Bangladesh poised to see sharp fall in remittance inflow

-- 2020-03-31 21:29:28

Amid slump in export earnings, experts say another big shock lies ahead for Bangladesh economy as its remittance inflow, the life line for many rural families, is likely to shrink significantly in the...

FBCCI to spray disinfectants from Narayanganj to Uttara

FE Online Desk 2020-03-31 18:33:11

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will start a two-day programme starting Wednesday to spray disinfectants from Narayanganj to Uttara in the capital as part of its...

Mercantile Bank, BRAC Bank donations to PM's Fund

FE Online Desk 2020-03-31 18:26:02

Mercantile Bank Limited donated an amount of Taka 50 million to the Prime Minister’s Relief Fund to fight coronavirus. It is initiated as a part of Mercantile Bank’s CSR activities to Pr...

Money market operations to continue during holidays

-- 2020-03-31 17:39:38

The Bangladesh Bank (BB) has taken a decision to keep open the operations of repurchase agreement (Repo) and interbank call money market in a limited scale during the general holidays for managing the...

StanChart BD offers comprehensive support measures

FE Online Desk 2020-03-31 17:31:06

Standard Chartered Bangladesh has decided to offer a comprehensive set of support measures for its wide range of clients to help pull through these difficult times. "Standard Chartered has stood by t...

Summit Group donates Tk 30m to fight coronavirus pandemic

FE Online Desk 2020-03-31 16:59:23

Summit Group, Bangladesh’s largest infrastructure conglomerate has contributed BDT 30 million to the Prime Minister's Relief and Welfare Fund to fight the coronavirus pandemic. The Princip...

UNCTAD seeks $2.5 trillion virus package for developing countries

FE Online Report 2020-03-31 16:14:25

In the face of a looming financial tsunami this year, due to spread of deadly coronavirus, an agency of the United Nations called for $2.50 trillion crisis package for developing countries including B...

Japan factory output growth slows in Feb

-- 2020-03-31 14:17:51

Japan’s industrial output rose in February at a slower pace than the previous month and factories expect production to plunge in March, adding to growing signs the coronavirus pandemic is taki...

Pandemic to hit growth in Asia, China: World Bank

Reuters 2020-03-31 10:21:37

The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday. The bank said p...

Customs houses asked to release limited goods on holidays  

FE Report 2020-03-31 09:48:16

The country's customs authority will release import-export goods on a 'limited scale' during the general holidays, declared by the government until April 04, to contain the spread of coronavirus. T...

Economists back lifeline for all domestic sectors

FHM HUMAYAN KABIR 2020-03-31 09:27:40

Economists on Monday urged the government to provide financial support to local industries and service sectors to help those cushion the impact of the new coronavirus. The Tk 50-billion package for t...

Export sectors to get virus money early next month

FE REPORT 2020-03-31 09:22:44

The Ministry of Finance issues a notification today (Tuesday), detailing the modalities of Tk 50-billion stimulus package for the export-oriented industries designed to pay salaries of employees. The...

Customs houses to remain open on holidays

-- 2020-03-30 18:04:08

All the customs houses and customs stations will remain open during the government declared general holidays in limited scale. The National Board of Revenue (NBR) on Monday issued an order in this re...

Australia to spend $80b subsidy to protect jobs

-- 2020-03-30 16:13:12

Australia will spend A$130 billion (64.5 billion pounds) to subsidise the wages of an estimated 6 million people, marking a third tranche of stimulus designed to limit the fallout of the coronavirus p...

China unexpectedly cuts reverse repo rate by most in five years

REUTERS 2020-03-30 15:41:27

China's central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities stepped up measures to relieve pressure o...

Coronavirus: Greece pumps more financial aid in economy

-- 2020-03-30 15:40:40

Greece announced new tax breaks and economic assistance to thousands of businesses and workers on Monday to buffer its economy from a national lockdown triggered by the coronavirus pandemic. Greece&r...

BB asks banks to release foreign exchange of travellers’ cards

FE ONLINE REPORT 2020-03-30 13:38:01

The central bank has relaxed its rules of foreign exchange release considering the situation of the travelling card holders stuck abroad due to restrictions arising out of the COVID-19 pandemic. Unde...

BB resumes dollar sale to offset strain on market

SIDDIQUE ISLAM 2020-03-30 09:34:50

The central bank has resumed sale of the US dollar (US$) to banks directly for offsetting extra pressure on the market, caused by lower remittance inflow following the ongoing coronavirus outbreak. A...

Foreign fund inflow hit hard by coronavirus pandemic

-- 2020-03-29 10:56:13

The coronavirus pandemic has hit hard the flow of aid from foreign donors who cleared 14 per cent less money in the eight months to February than the same period last fiscal year. The amount they ple...

TIB recommends special fund equivalent to 10pc of GDP

-- 2020-03-28 21:44:43

The Transparency International Bangladesh (TIB) on Saturday called for setting up a special fund equivalent to at least 10 per cent of GDP to manage and steer the recovery process from socioeconomic s...