Search results for: Economy

Trade deficit ups slightly in July-Nov

FE Online Report 2020-01-08 12:30:39

Country’s bilateral trade deficit with the rest of the world increased slightly in the first five months of the current fiscal year (FY20), according to the provisional statistics of the centr...

1.0pc cash incentive on FoB for RMG exporters

FE Report 2020-01-08 11:17:21

All readymade garment (RMG) exporters will receive 1.0 per cent cash incentive on freight on board (FoB) with effect from July 01, 2019. To this end, Bangladesh Bank issued a circular on Tuesday. Th...

ADP execution 26pc in first half

FE REPORT 2020-01-08 10:39:28

The government agencies' execution of projects in the first half of this fiscal is poor as they spent only 26 per cent of the annual development programme (ADP). They utilised 27 per cent of the Tk 1...

Average inflation up, marginally, in 2019

FE REPORT 2020-01-08 10:07:07

The average inflation rate has increased by 0.04 percentage points for the 12 months in the just-concluded year 2019 to 5.59 per cent due to some volatility in commodity markets in the country, offici...

H1 corporate taxes from large units miss target by Tk 5.67b

DOULOT AKTER MALA 2020-01-08 09:50:45

At least five large commercial banks paid less in corporate tax in the last fiscal year than that of the previous year, thus, adding to the woes of the National Board of Revenue (NBR). The five were...

Govt sets RMG export target at $50b in FY21

BSS 2020-01-07 16:35:38

The government has set a target of $50.0 billion readymade garment (RMG) export in 2020-21 fiscal year in line with its commitment to enhance earnings from the sector in the ruling Awami League’...

Facing Brexit unknowns, UK financial sector pays record taxes

REUTERS 2020-01-07 15:41:34

Britain’s financial industry paid a record near-$100 billion in taxes in the year to March, reaffirming its central role in funding the state at a time when its future prospects have been cloude...

Living cost rises 6.5pc in 2019: CAB

FE Online Report 2020-01-07 13:05:01

Living costs increased by 6.5 per cent in Dhaka in the just ended calendar year 2019, which was 6.0 per cent in 2018, Consumers Association of Bangladesh (CAB) study has revealed. According to the st...

Vietnam's industrial production rises 8.86 pc in 2019

-- 2020-01-07 12:19:37

Vietnam's national index of industrial production rose 8.86 per cent on-year in 2019, the country's General Statistics Office announced on Tuesday. Main driver of the surge, the processing and manufa...

Tibet's GDP grows 9pc in 2019

-- 2020-01-07 12:13:17

The gross domestic product (GDP) in southwest China's Tibet Autonomous Region grew about nine per cent in 2019. Tibet's GDP was estimated at more than 160 billion yuan (around 23 billion US dollars)...

VAT waiver of land mutation fees likely

FE REPORT 2020-01-07 10:49:11

The government is considering exempting 15 per cent VAT on land mutation fees as its justification has come into question. There is one kind of tax, which the local government department collects as...

After reserves, hackers now target export proceeds

FE Report 2020-01-07 10:16:55

The central bank has asked all banks to remain cautious about fraudulent emails, seeking transfer of export payment from foreign buyers. Bangladesh Bank, in a notice issued on Sunday, said besides do...

Taiwan Dec export growth seen slowing: Reuters poll

-- 2020-01-06 14:55:11

Taiwan’s exports likely grew at a slower pace in December, after beating expectations with a 3.3 per cent on-year increase in the prior month, according to a Reuters poll. Taiwan is one of Asia...

BOJ to conduct policy carefully over Iran tensions

-- 2020-01-06 14:50:40

Bank of Japan (BOJ) Governor Haruhiko Kuroda has said the central bank would conduct monetary policy “carefully” while scrutinising overseas economic risks, such as escalating tensions bet...

$10m fund set up to boost exports

FE REPORT 2020-01-06 10:44:43

A $10-million financial grant, Export Readiness Fund (ERF), was launched on Sunday to rev up export earnings of the country's four target sectors. The fund is rolling out under the Export Competitive...

Lending, deposit interest rates: BB asks committee for fresh report

SIDDIQUE ISLAM 2020-01-06 10:22:18

A central bank committee has been reassigned to prepare a fresh report on single-digit interest rates on both lending and deposit after reviewing the overall banking situation. It has also been asked...

Private sector to be allowed to set up finance cos

JASIM UDDIN HAROON 2020-01-06 10:07:11

The government is preparing a new law that will allow establishment of finance companies in the private sector in the country. Such finance companies will mainly focus on 'development financing' and...

'Move to send 750,000 workers aboard in Mujib Year'

BSS 2020-01-05 20:32:59

Expatriates’ Welfare and Overseas Employment Minister Imran Ahmad on Sunday said the government has set a target to send 750,000 workers aboard in the ‘Mujib Year’. “Skilled w...

Manpower export awaits 'big boost' in 2020

UNB 2020-01-05 16:58:36

The government is planning to send more workers abroad in 2020 as some closed labour markets are expected to reopen this year. The Bureau of Manpower, Employment and Training (BMET) says, Bangladesh...

Vegetable can expedite pace of economic progress: Agriculture minister

BSS 2020-01-04 17:05:10

Terming vegetable farming as a potential sector of the country, Agriculture Minister Dr M Abdur Razzaque has said vegetable can expedite the current pace of the country’s economic progress. &nb...

One-fourth of approved projects get revised in 2019

FHM HUMAYAN KABIR 2020-01-04 14:26:53

The top economic policymaking body has revised a good number of projects in the first year of the government, or one-fourth of the total approved in its second term, officials said. In its 22nd meeti...

Private credit unlikely to grow: Bankers

SIDDIQUE ISLAM 2020-01-04 10:25:31

Private credit growth is unlikely to pick up in the near future as most of the banks are reluctant to provide fresh loans after the move to enforce a single-digit interest rate. The government and th...

'Bangladesh economy to outshine Malaysia, Singapore, Hong Kong by 2024'

UNB 2020-01-03 19:51:11

Bangladesh’s economy will outshine the economy of Malaysia, Hong Kong and Singapore with its presence as the 30th largest economy in the world by 2024, says a new report. The global report, tit...

Oil price rises on fear of Iranian retaliation against US

Associated Press 2020-01-03 19:00:15

The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran's top general. News that Gen. Qassem Soleimani, h...

US weekly jobless claims drop to 222,000

-- 2020-01-03 13:47:23

The number of initial jobless claims in the United States dropped last week, according to a report released by the US Bureau of Labor Statistics on Thursday. The number of people filing for US unempl...

Private sector credit growth drops below 10pc

-- 2020-01-03 12:54:45

Before bringing down the lending rates to single digit, the growth of credit flow to the private sector has dropped below 10 per cent, which analysts have called “worrying” for the economy...

Gear up efforts to ensure duty-free market access

FE REPORT 2020-01-03 10:58:17

The government on Thursday directed the Bangladesh missions abroad to gear up efforts for ensuring duty-free access of the country's products to the global market in the post-LDC period. In a letter...

Singapore posts decade-low growth in 2019

-- 2020-01-02 14:40:15

Singapore’s economy expanded at its slowest pace in a decade last year as its manufacturing sector contracted, preliminary data showed on Thursday. The export-oriented economy has been hit hard...

Israel's agricultural damages reach $77m in 2019

-- 2020-01-02 12:43:21

Israeli agricultural damages totalled 265 million new shekels (about 77 million US dollars) in 2019, according to a government report published Wednesday. The average annual damage over the last 5 ye...

Oman approves 2020 budget

-- 2020-01-02 12:33:09

Sultan Qaboos bin Said of Oman has issued a royal decree that approves the country's general budget for the fiscal year 2020. According to a statement of the Omani Ministry of Finance, the revenue of...