Search results for: Economy

'Two-thirds of eligible taxpayers evade tax'

FE Report 2019-04-16 10:07:02

Chairman of National Board of Revenue (NBR) Md Mosharraf Hossain Bhuiyan said Monday less than one-third of potentially eligible taxpayers in the country pay taxes. "We've currently around 40 lakh (4...

Comprehensive farm database on the cards

FE Report 2019-04-16 09:58:27

The government has planned to build a comprehensive database for the country's agriculture sector aiming to boost agricultural production and exports. "A comprehensive database will be created to mak...

NBR told to avoid 'cut-and-paste' type budget

FE Report 2019-04-16 09:43:39

The country's investment development authorities, on Monday, sought adequate policy support from the National Board of Revenue (NBR) to further promote investment while making the existing initiatives...

Only 11pc women using MFS in BD: Study

Sajibur Rahman 2019-04-15 16:28:21

Only 11 per cent of women are registered users of Mobile Financial Services (MFS) in the country while 30 per cent of men are using such services, a study has revealed. Volume or frequency of need, i...

Asia economy sustaining solid growth: ADB chief

-- 2019-04-15 14:02:25

The head of the Asian Development Bank (ADB) has said that regional economies in Asia were sustaining solid growth despite some negative effects of the Sino-US trade war. In a group interview, the AD...

Middle class shrinking as incomes stagnate, costs rise: OECD

-- 2019-04-15 11:53:15

The middle class is shrinking in developed economies as increases in workers’ wages have failed to keep up with the rising cost of housing, education and healthcare, the OECD said on Wednesday....

FATF asks Pakistan to document all gold purchases in country

-- 2019-04-14 18:57:14

The Financial Action Task Force (FATF) has reportedly handed over to Pakistan a new set of recommendations to boost its fight against financial crimes in the country, especially the terror financing,...

Tanzania agrees $1.7b deal with World Bank

-- 2019-04-14 18:20:58

Tanzania has agreed a new 1.7 billion US dollar financing deal with the World Bank to fund various projects during fiscal year 2019/20, its finance ministry said on Saturday. The agreement, which is...

Tax collection posts slight growth in eight months

FE Report 2019-04-14 09:42:16

Tax collection grew by only 7.0 per cent during the first eight months of the current fiscal year widening the shortfall against target. Officials said that the National Board of Revenue (NBR) might...

World Bank suggests merger of commercial banks

FHM Humayan Kabir from Washington DC 2019-04-13 13:25:36

The World Bank (WB) has suggested that Bangladesh should merge the problematic commercial banks with the better performing ones. Besides, it recommended making the country's capital market vibrant, s...

Shunned by investors, poorer nations seek climate-proof growth

-- 2019-04-13 11:46:31

As droughts and floods cut crop harvests and storms tear up buildings and power lines, countries vulnerable to climate change - from Bangladesh to Kenya and Guatemala - have proposed new ways to acces...

BD seeks US investments in energy sector

FE Report 2019-04-13 09:29:00

Bangladesh has sought US investment, especially in the energy sector under the Indo-Pacific Business Forum. The Forum is seen as a counter mechanism to China's much-hyped Belt and Road (BR) initiativ...

Germany to halve 2019 growth forecast

-- 2019-04-12 17:00:32

The German government is set to halve its 2019 growth forecast for Europe’s biggest economy, a government source told Reuters on Friday, reflecting a worsening slowdown linked to a recession in...

China’s 2019 growth seen slowing to 30-year low

-- 2019-04-12 15:37:01

China’s economic growth is expected to slow to a near 30-year low of 6.2 per cent this year, a Reuters poll showed on Friday. The second largest economy of the world is likely to fall the recor...

Govt eyes Tk 377b non-tax revenue in next budget

Syful Islam 2019-04-12 09:42:27

The government is set to fix the target for non-tax revenue (NTR) at Tk 377 billion in the forthcoming budget. The amount is up by Tk 43 billion from current fiscal's original target and by Tk 107 bi...

BD may seek foreign aid to attain SDGs

FHM Humayan Kabir from Washington DC 2019-04-12 09:34:12

Bangladesh may seek financial support from global leaders to aid it in meeting sustainable development goals (SDGs) this afternoon (US local time). Finance minister AHM Mustafa Kamal will brief on hi...

Zimbabwe GDP growth below target at 4pc

-- 2019-04-11 21:38:00

Zimbabwe’s economy grew by 4.0 per cent last year, below an initial target of 4.5 per cent, treasury said on Thursday, as the country struggles with a severe shortage of dollars and surging infl...

European shares slip as growth fears weigh

-- 2019-04-11 21:19:09

European shares fell on Thursday as investor sentiment was dented by global growth slowdown fears but gains in France thanks to strong earnings helped set a lower limit to the broader decline. The pa...

Interest rate swap getting popular in local financial market

FE Report 2019-04-11 09:25:04

Interest rate swap is gradually becoming popular in the country's financial market, as many firms are showing interest on such type of derivative to avoid interest rate volatility. Swap is the exch...

ECB keeps policy, rate guidance unchanged

-- 2019-04-10 19:06:20

The European Central Bank kept its policy unchanged as expected on Wednesday, maintaining interest rates at record lows and keeping its guidance for steady interest rates this year despite a sharp slo...

NBR now hints at VAT Package

FE Report 2019-04-10 10:23:08

The proposed new VAT law may have a 'Package VAT'-like system as the National Board of Revenue (NBR) has shifted from its position to scrap the provision. NBR chairman Md Mosharraf Hossain Bhuiyan sa...

Trade gap crosses $10 billion in July-Feb

FE Online Report 2019-04-09 19:53:23

Country’s bilateral merchandise trade gap with the rest of the world crossed $10 billion mark in the first eight months of the current fiscal year (FY19), according to the latest statistics of t...

IMF projects 7.3pc growth for BD in current year

Siddique Islam, from Washington 2019-04-09 19:43:54

The International Monetary Fund (IMF) projected a 7.30 per cent economic growth of Bangladesh in 2019. The April 2019 version of the World Economic Outlook (WEO), released on Tuesday morning  in...

Rise of food prices pushes up inflation

-- 2019-04-09 17:09:53

The general inflation marked a 0.08 percentage point rise in March of the current calendar year due to price hike of different food items.   The inflation rate went up to 5.55 per cent in...

India’s retail inflation seen inching up in March

-- 2019-04-09 15:34:45

India’s retail inflation is expected to have accelerated in March on slightly higher food prices but remain under the RBI’s medium-term target of 4.0 per cent, a Reuters poll predicted. I...

NBR to scan TIN holders skirting tax returns

FE Report 2019-04-09 09:37:37

The National Board of Revenue (NBR) will find out the TIN (tax-payers’ identification number) holders who are not submitting tax returns despite having taxable income, its chairman said. Mosh...

Cigarette price hike to add up to 1pc to Turkish inflation

-- 2019-04-08 14:20:32

A 20 per cent price increase on cigarettes is expected to add up to 1.0 percentage point to Turkey’s inflation, economists say, as Ankara continues to face price instability. In the wake of las...

Economy to expand at 7.3pc this fiscal: Escap

FE Report 2019-04-07 09:26:42

The United Nations has said Bangladesh's real GDP (Gross Domestic Product) growth is expected to reach 7.3 per cent this fiscal year. The forecast came in the latest report of the Bangkok-based Econo...

US adds 196,000 jobs in March

-- 2019-04-06 14:48:38

The US economy added 196,000 jobs in March, while the unemployment rate remained unchanged at 3.8 per cent, the Bureau of Labor Statistics has said. In the first quarter of 2019, employment growth in...

BD's slip in ranking ‘hits investment growth’

FHM Humayan Kabir 2019-04-06 09:31:27

Bangladesh has not only failed to improve its position in the 'ease of doing business' index, it has rather slipped by 111 notches in the past 13 years. The country's poor ranking among the global ec...