Search results for: Economy

RMG export target for FY23 unlikely to be achieved, says BGMEA

-- 2022-10-30 20:54:58

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has said Bangladesh’s export earnings target from the readymade garments (RMG) sector for the current fiscal year (FY 2022-23)...

‘223 investment proposals worth Tk 316.10b received in July-September quarter'

-- 2022-10-30 18:51:04

Fully foreign and joint venture investment proposals with Bangladesh Investment Development Authority (BIDA) rose by 809.75 per cent (Tk 170.80 billion) during the July-September quarter in 2022 compa...

BB will go slow in calculating forex reserves following IMF formula 

-- 2022-10-30 18:28:28

The Bangladesh Bank (BB) has recently agreed to calculate reserves following the international standard as advised by the International Monetary Fund (IMF), but the process will be slow considering it...

Sustainability reporting by PLCs: Bangladesh ranks lowest in SA

FE REPORT 2022-10-30 09:02:52

Bangladesh ranked one of the lowest in sustainability reporting in 2019 among the South Asian publicly listed companies (PLCs), according to a latest research findings. Only 49 companies out of 320 l...

Government keen to expand digital banking, looks into digital currency launch

-- 2022-10-29 15:36:26

The government is optimistic about expanding digital banking in the country to accelerate financial inclusion with an aim to create more jobs for young jobseekers. According to an official document s...

Top central bankers fear breaking economy if they raise rates too fast

FE ONLINE DESK 2022-10-29 12:50:57

The world's top central bankers are beginning to fear that an already weak global economy will stall if they keep pressing on the brakes, unnerved by plunging commodity prices, turmoil in emergi...

Trade with Russia: BD out to find payment option amid SWIFT ban

REZAUL KARIM 2022-10-29 08:48:03

Dhaka is desperately exploring alternative payment systems amid multiple sanctions, including SWIFT ban, against Russia as bilateral trade will suffer a setback sans a free and safe transaction mechan...

IMF support to enable govt to recharge reserves

SYFUL ISLAM 2022-10-29 08:16:23

The International Monetary Fund (IMF) says its support programme for Bangladesh will help the country replenish its foreign-currency reserves and enhance the capacity to deal with economic downturn fe...

Bank of England poised to raise rates by most in 33 years

-- 2022-10-28 18:22:09

The Bank of England looks set to raise borrowing costs by the most since 1989 next week even as it prepares for a recession that could be deepened by spending cuts under new Prime Minister Rishi Sunak...

How will we know if the US is in recession?

-- 2022-10-28 17:18:08

The US economy grew faster than expected in the July-September quarter, the government reported Thursday, underscoring that the United States is not in a recession despite distressingly high inflation...

IMF cuts Asia's economic forecasts as China's slowdown bites

-- 2022-10-28 17:11:22

The International Monetary Fund cut Asia's economic forecasts on Friday as global monetary tightening, rising inflation blamed on the war in Ukraine, and China's sharp slowdown dampened the region's r...

GSP, cotton to dominate next Ticfa talks

FE REPORT 2022-10-28 10:02:20

Commercec Minister Tipu Munshi on Thursday said cotton fumigation and generalised system of preference (GSP) issues would be discussed in details in the next meeting of the Trade and Investment Cooper...

Remake social protection schemes suiting new normal

FE REPORT 2022-10-28 09:01:40

Bangladesh's social-protection schemes need to be reshuffled to deal with emerging risks in the post-pandemic new normal wherein more vulnerable groups have to be served, South Asian Network on Econom...

FDI jumps by 37.20pc in FY22

Asjadul Kibira 2022-10-27 21:57:03

The net inflow of foreign direct investment (FDI) in the country again crossed the US$3.0 billion level, after two years, in the last fiscal year (FY22). The latest statistics, released by the centra...

Talks with IMF for $4.5b loan satisfactory, says BB

-- 2022-10-27 18:24:27

Bangladesh Bank (BB) on Thursday said the first round of dialogue with a visiting delegation of the International Monetary Fund (IMF) for obtaining a loan of $4.5 billion was satisfactory, an official...

Mongla Port activities see sharp rise after Padma Bridge opening

-- 2022-10-27 18:09:33

Amid import control and inflation in the economy, the Mongla Port, the country’s second-largest seaport, saw huge export and import in the last three and a half months in the current fiscal year...

Europe likely to see another jumbo interest rate hike

-- 2022-10-27 16:30:29

The European Central Bank is set to follow the playbook of the US Federal Reserve in making its second big interest rate increase in a row on Thursday, underlining its determination to stamp out the r...

US Commercial Service opens new office in Dhaka to boost trade ties

-- 2022-10-27 15:54:27

The United States has formally opened a new commercial service office at the US Embassy in Dhaka, which will play an important role in strengthening trade ties between the two countries. US Assistant...

Currency depreciation risk intensifying global food, energy crisis, World Bank says

-- 2022-10-27 15:20:29

The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, the World Ban...

Bangladesh seeks AIIB's enhanced budget support

FHM HUMAYAN KABIR 2022-10-27 10:24:29

Bangladesh has sought extended assistance, especially budget support, from the Asian Infrastructure Investment Bank (AIIB), officials said here on Wednesday. Amid the volatile global scenario, Financ...

Covid shocks still stalk education, job creation

FE REPORT 2022-10-27 10:17:53

Despite some economic recovery from the Covid-19 fallout, challenges still persist largely in health, education, employment generation and poverty reduction in Bangladesh, according to a survey. Besi...

IMF stocktaking on budgetary support begins

FE REPORT 2022-10-27 08:48:56

Finance officials appear upbeat about getting a US$4.5-billion loan approved as the International Monetary Fund (IMF) opens talks on the budget-support credit Bangladesh has sought to replenish fo...

Energy prices to decline 11pc in 2023 after 60pc jump in 2022, World Bank projects

-- 2022-10-26 20:53:33

The World Bank on Wednesday said it expects energy prices to decline 11 per cent in 2023 after a 60 per cent surge in 2022, with slower global growth and continued COVID restrictions in China posing k...

IMF delegation arrives in Dhaka to discuss $4.5b loan

-- 2022-10-26 19:48:59

An International Monetary Fund (IMF) team is now in Dhaka to discuss the terms and conditions of a prospective $4.5 billion loan for the Bangladesh government.  Officials of the Ministry of Fina...

Global economy approaching a recession: Reuters poll

-- 2022-10-26 19:36:30

The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down persistent...

Speakers stress need for competitive tariff structure for post-LDC period

-- 2022-10-26 19:21:34

Speakers at a workshop have underscored the need for a competitive and rationalised tariff structure for the post-LDC period. They made the observation at a workshop on ‘Competitive tariff stru...

Bangladesh to get $3.41m from Jica for human resource development

-- 2022-10-26 16:22:42

Japan International Cooperation Agency (JICA) has signed a grant agreement with the government for the implementation of the Project for Human Resource Development Scholarship (JDS). The JDS is a gra...

Bangladesh an attractive business hub, says US envoy

FE REPORT 2022-10-26 10:11:41

Terming Bangladesh attractive as a trade destination, US Ambassador in Dhaka Peter D Haas said the more US companies explore Bangladesh market, the better the possibility of investment from them. US...

Q1 foreign aid drops

FHM HUMAYAN KABIR 2022-10-26 07:52:59

Foreign-aid flow into Bangladesh ebbed down in the first quarter (Q1) of the current fiscal as key multilateral donors appeared generous on pledge but tightfisted on fund disbursement, officials say....

IMF’s $4.5b loan to Bangladesh unlikely before January: officials

-- 2022-10-25 18:54:27

The $4.5 billion loan Bangladesh is seeking from the International Monetary Fund (IMF) is unlikely to arrive before January next year, according to officials familiar with the negotiations. An IMF te...