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The Financial Express

Search results for: Economy

'Salt farmers to get special protection for five years'

'Salt farmers to get special protection for five years'

-- 2019-07-05 18:38:49

The government will provide special protection to the salt farmers for next five years to achieve self-sufficiency in salt production. Industries Minister Nurul Majid Mahmud Humayun and State Ministe...

Record gas price spike puts squeeze on BD garment makers

Record gas price spike puts squeeze on BD garment makers

FE Online Desk 2019-07-05 16:28:17

Apparel makers such as Dhaka-based Ananta Group are powering Bangladesh's economic expansion, the fastest in Asia, but a record high gas price spike threatens to derail the industry's growth, accordin...

BD among four countries to win US-China trade war

BD among four countries to win US-China trade war

-- 2019-07-05 12:48:52

Bangladesh, Vietnam, Taiwan and South Korea are victors in the US-China trade war, according to a CNN report. Americans are buying less from China. But rather than leaning on US producers, they're av...

India unveils budget for FY 2019-20

India unveils budget for FY 2019-20

-- 2019-07-05 12:43:23

India on Friday unveiled a budget aimed at boosting infrastructure and foreign investment, the first since the Bharatiya Janata Party led by Prime Minister Narendra Modi returned for a second term in...

Tax collection faces headwinds in FY 2019

Tax collection faces headwinds in FY 2019

FE Report 2019-07-05 09:27:00

Tax collection faced a Tk 600 billion shortfall in the just-concluded fiscal year (FY) against the revised target, lowest in five years. The National Board of Revenue (NBR) mobilised Tk 2.22 trillion...

Australia faces 161b USD infra funding shortfall

Australia faces 161b USD infra funding shortfall

-- 2019-07-04 15:14:11

Australia is facing a major shortfall in funding for critical infrastructure, according to a report from the Group of 20 (G20). The report found that Australia has to spend an extra 230 billion Austr...

Private sector credit growth rebounds in Ramadan

Private sector credit growth rebounds in Ramadan

FE Report 2019-07-04 10:47:47

The private sector credit growth bounced back in May, following higher trade financing due to the holy month of Ramadan, after maintaining a falling trend in the previous seven consecutive months,...

EU-Vietnam FTA to hit BD trade hard

EU-Vietnam FTA to hit BD trade hard

FHM Humayan Kabir 2019-07-04 09:27:48

Bangladesh is likely to face a severe blow to its foreign trade, as its competitor country Vietnam signed a free-trade agreement (FTA) with the European Union (EU) on Sunday, analysts said on Tuesday....

Bangladesh one of great success stories in world: US envoy

Bangladesh one of great success stories in world: US envoy

-- 2019-07-03 20:47:28

US Ambassador to Bangladesh Earl R Miller on Wednesday said Bangladesh is one of the United States' most valued partners and one of the great development success stories in the world. "I'm proud of w...

No VAT on sanitary napkin, NBR clarifies

No VAT on sanitary napkin, NBR clarifies

-- 2019-07-03 19:52:05

The National Board of Revenue (NBR) on Wednesday said that the government has not imposed value added tax (VAT) on sanitary napkin in the national budget for the fiscal 2019-20. The central authority...

Move to improve living standard of 4.0m people in Dhaka

Move to improve living standard of 4.0m people in Dhaka

-- 2019-07-03 18:33:03

The United Nations Development Programme's (UNDP) in collaboration with the government of Bangladesh has launched a six-year project for improving the living standard of the capital's 4.0 million pove...

Euro zone business growth slow in June

Euro zone business growth slow in June

-- 2019-07-03 16:01:01

Euro zone business activity picked up slightly in June but remained weak as a modest but broad-based upturn in the services industry offset a continued deep downturn in factory output, a survey showed...

Heat stress to guzzle output equal to 3.83m jobs in BD

Heat stress to guzzle output equal to 3.83m jobs in BD

FE Report 2019-07-03 10:41:04

Bangladesh is projected to lose productivity equivalent to 3.83 million full-time jobs in the year 2030 due to rise in heat stress caused by global warming, according to a latest report. By 203...

Remittances hit record $16.42b in FY' 19

Remittances hit record $16.42b in FY' 19

Siddique Islam 2019-07-03 09:44:58

The flow of remittances grew by 9.65 per cent to a record US$16.42 billion in the just-concluded fiscal year (FY) as the exchange rate of local currency weakened against the US dollar. The figure jum...

BIMSTEC free trade deal likely this year

BIMSTEC free trade deal likely this year

Mir Mostafizur Rahaman 2019-07-03 09:28:54

A free trade agreement (FTA) among the BIMSTEC countries may be signed this year, a top official of the regional grouping said on Tuesday. The BIMSTEC, which stands for the Bay of Bengal Initiative f...

'BD likely to become 25th largest economy in 10 years'

'BD likely to become 25th largest economy in 10 years'

-- 2019-07-02 20:13:11

Prime Minister Sheikh Hasina has said Bangladesh is likely to become 25th largest economy globally in 10 years. “Whatever gaps or limitations that we have, we are ready to correct those. So, we...

Chamber Judge stays HC order on BB privileges for loan defaulters

Chamber Judge stays HC order on BB privileges for loan defaulters

-- 2019-07-02 19:50:46

The Chamber Judge of the Supreme Court on Tuesday stayed a High Court order that directed to maintain a status-quo on a Bangladesh Bank policy offering special privileges to loan defaulters. Justice...

Bangladesh is safe place for investment: PM

Bangladesh is safe place for investment: PM

-- 2019-07-02 18:26:45

Prime Minister Sheikh Hasina has said currently the economy of Bangladesh is stronger than any other time. The Prime Minister also described the country as a safe place for investment, according to a...

FBCCI leaders discuss investment issues with Chinese counterparts

FBCCI leaders discuss investment issues with Chinese counterparts

-- 2019-07-02 17:56:38

Leaders of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Tuesday discussed ways with their Chinese counterparts to boost trade and investment between the two countries....

UAE keen to invest in food processing sector

UAE keen to invest in food processing sector

-- 2019-07-02 16:43:54

The United Arab Emirates (UAE) wants to invest in the food processing sector of Bangladesh. The UAE Ambassador in Dhaka Saed Mohammed Al Mheiri expressed the interest on behalf of his country during...

Italy cuts budget deficit to avoid EU disciplinary action

Italy cuts budget deficit to avoid EU disciplinary action

-- 2019-07-02 15:09:00

The Italian cabinet has agreed to reduce the country's budget deficit target by 0.3 per cent in 2019 to avoid European Union (EU) disciplinary action. The measure was seen as a necessary step for the...

Confusion reigns as govt rolls out new VAT

Confusion reigns as govt rolls out new VAT

FE Online Desk 2019-07-02 14:26:11

Nikkei Asian Review in a news article said that the new Value Added Tax (VAT) system in Bangladesh has confused both the consumers and businesses. Titled ‘Bangladesh's VAT rollout confuses cons...

NBR lifts VAT, SD on diaper, sanitary pad raw materials

NBR lifts VAT, SD on diaper, sanitary pad raw materials

FE Report 2019-07-02 10:31:32

The National Board of Revenue (NBR) has exempted Value Added Tax (VAT) and Supplementary Duty (SD) on import of raw materials for producing sanitary napkin and diaper in a bid to make their prices a...

BD, WFP working to lift rural women out of extreme poverty

BD, WFP working to lift rural women out of extreme poverty

-- 2019-07-01 17:04:57

The government of Bangladesh is set to reach 100,000 women with livelihood training, behaviour change education, as well as food assistance through a programme involving $72 million. The World Food P...

New VAT law finally takes effect

New VAT law finally takes effect

FE Online Desk 2019-07-01 14:52:55

The new value added tax (VAT) law has finally taken effect from the first day of the new financial year, 2019-20. In line with the announcement made by Finance Minister AHM Mustafa Kamal in the new b...

South Korea June exports tumble

South Korea June exports tumble

-- 2019-07-01 13:28:53

South Korea’s exports posted their biggest slide in three-and-a-half years in June, data showed on Monday, denting government hopes for a pick-up in economic growth after a shocking decline in t...

Reform banking sector for budget implementation: Ibrahim Khaled

Reform banking sector for budget implementation: Ibrahim Khaled

-- 2019-06-30 16:54:23

Former Bangladesh Bank Deputy Governor Khondokar Ibrahim Khaled has underscored the need for reforming the country's banking sector for proper implementation of the national budget for 2019-20 fiscal...

Bangladesh asks Google, Facebook to appoint tax agents

Bangladesh asks Google, Facebook to appoint tax agents

-- 2019-06-30 16:10:25

Internet giants, including Google and Facebook, and other non-resident providers of electronic broadcast services through TV and radio in Bangladesh will have to appoint agents in the country to pay v...

Parliament passes Tk 5.23 trillion budget

Parliament passes Tk 5.23 trillion budget

-- 2019-06-30 14:16:13

Parliament on Sunday passed the Tk 5.23 trillion (5,23,190 crore) national budget for the fiscal year 2019-20, themed as 'Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh'. Fi...

'Unleash creativity to solve social problems'

'Unleash creativity to solve social problems'

Tanvir Sufi, from Bangkok 2019-06-30 10:43:37

The ninth Social Business Day concluded on Saturday in Bangkok with a call to harness the power of creativity of the youths, which can help solve social problems. In his concluding remark, Nobel Laur...