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The Financial Express

Search results for: Economy

Q1 budget deficit soars

Q1 budget deficit soars

JASIM UDDIN HAROON 2019-12-07 10:12:15

The budget deficit during the July-September period last increased by nearly 200 per cent compared with the corresponding three months in 2018, as gains in tax receipts were offset by higher spendin...

Move to revamp BD missions abroad to spur export earnings

Move to revamp BD missions abroad to spur export earnings

FE Report 2019-12-06 14:38:57

The government wants to rejuvenate its foreign missions abroad across the globe to help boost export earnings, officials have said. To this end, they said, an inter-ministerial committee will hold a...

ADB approves $1b emergency loan for Pakistan

ADB approves $1b emergency loan for Pakistan

-- 2019-12-06 14:23:33

The Asian Development Bank (ADB) has approved an emergency loan of 1.0 billion US dollar for Pakistan to provide immediate support to the country's finances and help strengthen a slumping economy. Th...

ADB approves $160m loan for Mongolia

ADB approves $160m loan for Mongolia

-- 2019-12-06 14:14:31

The Asian Development Bank (ADB) has approved a loan of 160 million US dollars to support Mongolian government's efforts to improve the air quality and health in Mongolia's capital Ulan Bator. "Air p...

NZ c. bank alerts public to phone call scam

NZ c. bank alerts public to phone call scam

-- 2019-12-06 14:07:40

The Reserve Bank of New Zealand (RBNZ) is alerting the public to what appears to be an automated phone call scam randomly targeting members of the public, according to a statement on Friday. The scam...

Import taxes on seeds of spices go

Import taxes on seeds of spices go

FE REPORT 2019-12-06 10:54:20

Importers have been exempted from payment of all import taxes on different types of seeds of spices and pulses including pepper and coriander. The National Board of Revenue (NBR) has withdrawn the...

‘Businesses hampered as private banks yet to reduce lending rates’

‘Businesses hampered as private banks yet to reduce lending rates’

FE Online Report 2019-12-05 22:00:51

No private bank has reduced the lending rates to single digits as yet, despite getting privileges from the government, which is having a negative impact on businesses. Commerce Minister Tipu Munshi c...

Export earnings fall again

Export earnings fall again

FE Online Report 2019-12-05 15:34:05

The country's export earnings continued the negative trend as merchandise shipment witnessed a 7.59 per cent fall during the last five months of current fiscal year of 2019-20.  The aggregate e...

1.6m tourists visit Sri Lanka till Nov end

1.6m tourists visit Sri Lanka till Nov end

-- 2019-12-05 12:23:07

Tourist arrivals to Sri Lanka hit the 1.6 million mark in November with the arrival of over 175,000 tourists to the country by the end of the month, statistics from the Sri Lanka Tourism Ministry has...

Argentine central bank chief Sandleris steps down

Argentine central bank chief Sandleris steps down

Reuters 2019-12-05 11:42:02

Argentina central bank chief Guido Sandleris resigned on Wednesday, an expected step as Latin America’s third-largest economy transitions to Peronism next week under newly elected President Albe...

Govt likely to cut foreign aid allotment in RADP

Govt likely to cut foreign aid allotment in RADP

FHM Humayan Kabir 2019-12-05 10:33:54

The government is likely to slash foreign aid allocation in the upcoming revised development budget, as many ministries and divisions have sought lower funds, officials said on Wednesday. The Econo...

BB relaxes rules on repaying buyer's credit by importers

BB relaxes rules on repaying buyer's credit by importers

FE Report 2019-12-05 10:30:54

The central bank has relaxed regulations on short-term buyer's and supplier's credit borrowed from overseas sources for making payments on import of industrial raw materials. Importers are now allo...

NBR revenue falls 24pc short of July-Oct target

NBR revenue falls 24pc short of July-Oct target

DOULOT AKTER MALA 2019-12-05 10:10:17

The first four months of the current fiscal year saw a tax revenue shortfall of around Tk 202.20 billion against the target. However, the volume of tax revenue collection registered a poor 4.33 per c...

Kamal for sector-wise, demand-based financing

Kamal for sector-wise, demand-based financing

BSS 2019-12-04 17:45:23

Finance Minister AHM Mustafa Kamal on Wednesday underscored the need for ensuring sector-wise and demand-based financing for those countries which are lagging behind in the economic and social sectors...

Trump comments, Uighur bill hurt prospects of US-China deal

Trump comments, Uighur bill hurt prospects of US-China deal

Reuters 2019-12-04 13:57:03

US President Donald Trump’s comments that a trade agreement with China may have to wait until late 2020 and a House of Representatives bill targeting camps for Muslims in Xinjiang have cast doub...

Afghan gov't approves 35 contracts worth $46m

Afghan gov't approves 35 contracts worth $46m

-- 2019-12-04 13:47:08

The Afghan government's National Procurement Commission (NPC) has approved 35 contracts worth 46 million US dollars, the Presidential Palace said on Wednesday. The NPC presided by President Mohammad...

Manila rejects BD's claim for RCBC fine money

Manila rejects BD's claim for RCBC fine money

FE Report 2019-12-04 10:12:30

The Philippines has declined Bangladesh's claim for the 20 million US dollars the Rizal Commercial Banking Corp (RCBC) was fined for its negligence in the $81 million Bangladesh Bank heist. "As it wi...

Industrial lending rate cut: BB gets down to work

Industrial lending rate cut: BB gets down to work

SIDDIQUE ISLAM 2019-12-04 09:58:30

The central bank has started working on bringing down the industrial lending rate to a single-digit aiming to spur the country's overall economic growth through job creation and increased investment....

ADB approves $400m loan for Philippines

ADB approves $400m loan for Philippines

-- 2019-12-03 13:41:40

The Asian Development Bank (ADB) said on Tuesday that it has approved a 400 million US dollars policy-based loan to support the Philippine government's efforts to reduce the number of out-of-school an...

Number of tax returns from new taxpayers poor this year

Number of tax returns from new taxpayers poor this year

DOULOT AKTER MALA 2019-12-03 10:01:48

The number of income tax returns, submitted by individual taxpayers until the deadline (December 01), remained far below taxmen's expectations. The number increased by only 0.1 million this year desp...

Govt almost exhausts bank borrowing target in five months

Govt almost exhausts bank borrowing target in five months

SIDDIQUE ISLAM 2019-12-03 09:50:31

The government is set to make a net borrowing of more than Tk 45 billion from the country's banking system in December to partly meet its budget deficit, officials said. The government's gross borrow...

Remittance inflow increases by 31.75pc in November

Remittance inflow increases by 31.75pc in November

-- 2019-12-02 19:12:18

Bangladesh received $1,555.22 million in remittance in November of the current fiscal, which is apparently 31.75 per cent higher than that of same month of previous year, according to Bangladesh Bank...

US online shoppers spend $68 billion in Nov

US online shoppers spend $68 billion in Nov

-- 2019-12-02 12:31:43

US online shoppers spent 68.1 billion US dollars in November, with 7.4 billion dollars on Black Friday (Nov. 29) alone, data from the web analytics tool Adobe Analytics showed. US online shoppers spe...

ADB elects new president

ADB elects new president

-- 2019-12-02 10:42:14

The Asian Development Bank (ADB) announced on Monday that its Board of Governors has "unanimously elected" Masatsugu Asakawa as ADB president. Asakawa, 61, currently special advisor to Japan's prime...

Economic slowdown in India to impact BD, fears Muhith

Economic slowdown in India to impact BD, fears Muhith

FE REPORT 2019-12-02 10:00:08

Former finance minister A M A Muhith has said Bangladesh's economic growth might be impacted by the slowing down of neighbouring India's economy. "To my mind, the ongoing sluggish trend of Indian eco...

Govt to form panel to ensure single digit interest rate

Govt to form panel to ensure single digit interest rate

-- 2019-12-01 17:22:25

The government is set to form a panel with the task of bringing interest rates down to a single digit. Finance Minister AHM Mustafa Kamal gave the information after a meeting with leaders of the bank...

India plans to invest $1.39 trillion in infrastructure to spur economy

India plans to invest $1.39 trillion in infrastructure to spur economy

-- 2019-12-01 14:11:21

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on S...

50,000 workers may return home under Malaysia's B4G scheme

50,000 workers may return home under Malaysia's B4G scheme

ARAFAT ARA 2019-12-01 10:20:25

About 50,000 Bangladeshi workers would have to return home from Malaysia by this month under 'Back 4 Good (B4G) scheme announced by Kula Lumpur, according to Bangladesh High Commission there. The Mal...

FinMin’s parley with banking bosses: Troubled loans to top agenda

FinMin’s parley with banking bosses: Troubled loans to top agenda

REZAUL KARIM AND FHM HUMAYAN KABIR 2019-12-01 10:01:09

Finance minister will sit with chiefs of private and public sector banks to discuss the issues of non-performing loans and banking sector volatility, officials said. Officials said finance minister A...

China's growth forecast at 6.1pc for 2020

China's growth forecast at 6.1pc for 2020

Xinhua 2019-11-30 16:25:17

The annual growth rate of China's economy is projected at 6.1 per cent, according to a report by the Bank of China (BOC). "The overall verdict is cautiously optimistic," the BOC Research Institute sa...