Search results for: Economy

Carry out reforms, get more loans, WB VP suggests

FE REPORT 2022-11-15 08:46:10

The World Bank suggested the government carry out the reforms earlier tagged with the lender's ongoing budgetary support worth US$500 million to pave the way for such loans in future, officials said o...

Per capita income now $2,824

-- 2022-11-14 22:02:27

The per capita income in Bangladesh rose by 9 per cent year-on-year to $2,824 in the fiscal year 2021-22, said the annual report of the fiscal year (FY) 2021-22 on ministries and divisions approved Mo...

Banks have Tk 1.69 trillion excess liquidity, reveals BB

-- 2022-11-14 19:01:37

Banks have excess liquidity of Tk 1.69 trillion, and rumours on social media are unfounded, Bangladesh Bank spokesperson Md. Abul Kalm Azad said on Monday. He was addressing a press conference at the...

'Graft, govt's centralisation, data shortage major hurdles to achieving SDGs'

FE REPORT 2022-11-14 13:41:32

Corruption, centralisation of the government's power, institutions and funds, and shortage of required and updated data are hindering achievement of the Sustainable Development Goals (SDGs) in the cou...

IMF says global economic outlook getting 'gloomier'

-- 2022-11-14 10:14:13

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It bl...

Sri Lanka budget to seek recovery for crisis-hit economy

REUTERS 2022-11-14 09:34:13

Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial crisis si...

NPLs swell 9.36pc to hit new high

FE REPORT 2022-11-14 08:20:58

Non-performing loans soared to a new high at Tk 1.34 trillion at the end of September, in what economists describe as "governance failure" in Bangladesh's banking system. The amount is 9.36 per cen...

Deposits of common people in banks totally safe, BB assures

-- 2022-11-13 20:56:58

The Bangladesh Bank has said that the deposits of common people in banks are totally safe. The central bank said this on Sunday in response to propaganda on various social media stating that the comm...

Kamal hopes getting $500m budget support from WB

-- 2022-11-13 17:55:55

Finance Minister AHM Mustafa Kamal has expressed his optimism that Bangladesh would get $500 million as budget support from the World Bank in the current fiscal year (FY23). He also informed that the...

Bangladesh aims to build cashless society within 3-4yr

-- 2022-11-13 15:51:42

Prime Minister's ICT Affairs Adviser Sajeeb Wazed Joy has said the government aims to build cashless society within next three or four years as part of it's target to bring cent percent people under b...

Russia says no agreement yet to extend Black Sea grain deal

-- 2022-11-13 13:06:12

Russia said on Saturday there was no agreement yet to extend a deal allowing Ukraine to export grain via the Black Sea, repeating its insistence on unhindered access to world markets for its own...

Global debt levels rose 'substantially' in 2021: World Bank chief

-- 2022-11-13 11:46:20

Debt levels among low- and middle-income countries rose sharply in 2021, with China accounting for 66% of lending by official bilateral creditors, World Bank President David Malpass said, underscoring...

‘Despite Tk 20b credit guarantee, only Tk 1.92b loan disbursed to CMSMEs’

-- 2022-11-12 17:37:18

Bangladesh Bank's deputy governor Abu Farah Md. Nasser has said despite having a credit guarantee scheme of Tk 20 billion for cottage, micro, small, and medium enterprises (CMSME), loans of only Tk 1....

More than 50 countries in danger of bankruptcy, UN official warns

-- 2022-11-12 16:58:22

More than 50 of the poorest developing countries are in danger of defaulting on their debt and becoming effectively bankrupt unless the rich world offers urgent assistance. Head of the UN Development...

BD-Japan ties at 50: Prospects of trade, investment in focus

FE REPORT 2022-11-12 10:11:38

Foreign minister AK Abdul Momen said although the diplomatic relationship between Bangladesh and Japan has reached 50 years, the two friendly countries are still to exploit their true potential. He s...

Broad money growth gets stymied

JASIM UDDIN HAROON 2022-11-12 08:49:34

Growth in broad money that includes physical currency, some sorts of deposits in banks and very liquid securities gets stymied significantly as Bangladesh tightens belt to navigate a feared oncoming w...

Mapping right policies imperative

FE REPORT 2022-11-11 11:25:27

Apart from managing finances from different sources, mapping and implementing the right combination of policies are imperative to restore macroeconomic stability in Bangladesh, Dr Ahsan H Mansur said...

Momen seeks Brazilian investment in energy, infrastructure, ICT sectors

-- 2022-11-10 16:44:21

Foreign Minister Dr AK Abdul Momen has invited Brazilian investors to invest in the energy, infrastructure and ICT sectors in Bangladesh. He said Bangladesh is the largest manufacturing hub in the re...

Indian debt attractive, but not enough to lure foreign flows just yet : Fund managers

FE ONLINE DESK 2022-11-10 13:13:42

Foreign investors are unlikely to enter the Indian government debt market, despite attractive valuations, deterred by near-term headwinds, including a depreciating rupee and high hedging costs. India...

IMF agrees to lend BD $4.5b

SYFUL ISLAM 2022-11-10 09:02:33

The International Monetary Fund (IMF) agrees to lend Bangladesh US$4.5 billion to help replenish its foreign-currency reserves, weighed down by high global inflation, in a package that includes wide-s...

IMF loan to lessen economic shocks: Economists

FHM HUMAYAN KABIR 2022-11-10 08:49:31

Economists see the IMF nod regarding a US$4.5 billion worth of budget support as positive in coping with Bangladesh's prevailing economic shocks. They also observed the IMF's willingness -- expressed...

Sri Lanka starts its largest port project funded by India's Adani

-- 2022-11-09 17:34:40

Sri Lanka's largest port began on Wednesday construction of a $700 million terminal project, partly funded by India's Adani Group, an official said, marking the first foray by an Indian company into t...

Bangladesh, IMF reach initial deal for $4.5b loans

-- 2022-11-09 16:17:31

Bangladesh and the International Monetary Fund (IMF) have reached a staff-level agreement that would see the country receive a total $4.5 billion in loan support amid global economic uncertainty due t...

BBS data shows inflation further down in Oct

FE REPORT 2022-11-09 09:25:12

The rate of inflation (point-to-point) dropped further by 0.19 per cent to 8.91 per cent for the second consecutive month in October 2022 thanks to a fall in food prices in the domestic market. In Se...

EDF dollar loan made costlier

FE REPORT 2022-11-09 09:16:18

The central bank of Bangladesh again raised the interest rate on a dollar loan from the EDF for manufacturers of exportable apparel, in an apparent measure to buttress the country's forex reserves. C...

BB raises interest rate for loans from Export Development Fund

-- 2022-11-08 19:10:22

Bangladesh Bank has raised the rate of interest on loans from the Export Development Fund by 1.0 percentage point to 4.0 per cent. The central bank also raised the rate of interest on borrowings from...

Buying Russian oil is to India's advantage: Subrahmanyam Jaishankar

-- 2022-11-08 18:12:09

India will continue buying Russian oil as it is advantageous for the country, Foreign Minister Subrahmanyam Jaishankar said on Tuesday after meeting his Russian counterpart. India has emerged as Russ...

Bangladesh inflation slips below 9pc in October

-- 2022-11-08 16:46:21

Planning Minister MA Mannan has said that overall inflation edged down to 8.91 per cent on a point-to-point basis in October and hoped it would maintain the downward trend in the coming days. Meanwhi...

NSSS implementation makes little progress

FE REPORT 2022-11-08 10:24:16

The implementation of the National Social Security Strategy (NSSS) has made little progress since its formulation in 2015 mainly because of inadequate and weak institutional capacities and lack of awa...

Forex reserves now fall to $34.42 billion

JUBAIR HASAN 2022-11-08 08:37:08

Bangladesh's foreign-currency reserves further dropped as the central bank Monday cleared import bills amounting to US$ 1.35 billion to the Asian Clearing Union (ACU), officials said. With the paymen...