Search results for: Economy

Bank of China offers Sri Lanka $300m loan

-- 2019-01-15 12:42:24

Bank of China (BOC) has offered a loan of $300 million (232.68 million pounds) to Sri Lanka which can be raised to $1 billion, a source in Colombo with direct knowledge of the matter, said. The sourc...

BB seeks Tk 8.0b for ESF to fund agro-based projects

FE Report 2019-01-15 10:30:20

The central bank has sought an allocation of Tk 8.0 billion for its 'Entrepreneurship Support Fund' (ESF) in the upcoming fiscal year (FY) 2019-20 for financing agro-based projects. Besides, it has p...

China export grows highest in seven years despite trade war

-- 2019-01-14 10:38:41

China’s exports rose 9.9 per cent in 2018, its strongest trade performance in seven years, despite growing disruptions from an escalating trade war with the United States, customs data showed on...

'BD to be 24th economy in GDP globally by 2032'

FE Report 2019-01-14 09:50:00

Finance Minister A H M Mustafa Kamal hoped that Bangladesh's economy would be at 24th position in global ranking by 2032 in terms of the gross domestic product (GDP). He also said when the economy gr...

Q1 budget in surplus amid lower revenue

Jasim Uddin Haroon 2019-01-14 09:49:23

The current budget recorded a Tk 24.07 billion surplus during the four months to October last, though tax receipts are less-than-expected, the ministry of finance said on Thursday. Revenue income of...

Qatar Investment Authority targets $45b in US investments

-- 2019-01-13 16:33:22

Qatar Investment Authority aims to raise investments in the United States to $45 billion in the next two years from around $30 billion now. Chief Executive of the body Mansour Ibrahim al-Mahmoud gave...

ADB provides $200m to upgrade rural road network in BD

FE Online Desk 2019-01-13 12:43:59

The Asian Development Bank (ADB) and the Government of Bangladesh today (Sunday) signed agreements for $200 million in loans to improve the rural road network in Bangladesh. Monowar Ahmed, Secretary,...

Lower fund demand prompts govt to go for cut in foreign aid allocation

FHM Humayan Kabir 2019-01-13 09:47:07

The government is likely to slash foreign aid allocation in the revised development budget as most of the ministries and agencies sought lower funds, officials said on Saturday. The lower fund demand...

Zimbabwe plans new currency amid dollar shortage

-- 2019-01-12 16:08:18

Zimbabwe will introduce a new currency in the next 12 months as a shortage of US dollars plunges the financial system into disarray, forcing businesses to close and threatening unrest. Finance Minist...

Living cost in Dhaka rises 6.0 pc in 2018: CAB

FE Report 2019-01-12 13:46:33

Cost of living rose by 6.0 per cent in Dhaka city in 2018 compared to that in 2017 due to rising prices of rice, fish, vegetables, toiletries, tea and other essentials, the Consumers Association of Ba...

Vietnam eyes $40b garment, textile exports in 2019

-- 2019-01-12 13:05:58

Vietnam will achieve garment and textile export turnovers of 40 billion US dollars this year, up 10.8 per cent from last year, the Vietnam Textile and Apparel Association (VITAS) has said. To this en...

Savings tools buying to come under govt scanners

Jasim Uddin Haroon 2019-01-12 09:29:36

The government is set to create a database of buyers of government-sponsored savings instruments. The objective behind the creation of database is to see whether the savings opportunity is abused by...

Germany faces 100 billion euro budget gap through 2023

-- 2019-01-11 17:44:15

The German government faces a gap of around 100 billion euros for its budget plans through 2023 as the economy cools. A German weekly news magazine, Der Spiegel, gave the information in a report on F...

China to set lower GDP growth target in 2019

-- 2019-01-11 12:53:36

China plans to set a lower economic growth target of 6-6.5 per cent in 2019 compared with last year’s target of “around” 6.5 per cent, policy sources told Reuters, as Beijing gears u...

No more rise in NPLs from now on: Kamal

FE Report 2019-01-11 10:11:03

Finance Minister AHM Mustafa Kamal said on Thursday non-performing loan (NPL) will not grow by even a single penny from today, rather it will reduce. He, however, said he would not go for action agai...

India’s inflation in Dec likely hit record low

-- 2019-01-10 11:49:42

India’s retail inflation in December is expected to have eased to its lowest since June 2017 as food costs fell and fuel prices rose at a slower pace, a Reuters poll showed. Inflation likely co...

BB heist: Manila court jails ex-banker

-- 2019-01-10 10:52:22

A Philippine court on Thursday held a former bank manager guilty on eight counts of money laundering, the first conviction in one of the world’s largest cyber heists, in which $81 million was st...

WB revises GDP growth forecast to 7.0pc

FE Report 2019-01-10 09:59:27

The World Bank (WB) has projected a 7.0 per cent economic growth for Bangladesh in fiscal year (FY) 2018-19. The WB has also forecast a 6.8 per cent GDP (gross domestic product) growth for the countr...

BB report suggests better watch, risk management

Siddique Islam 2019-01-10 09:55:04

The central bank has emphasised improving financial intermediation efficiency by reducing the amount of classified loans in the banking system through better supervision and risk management. "&hellip...

Global GDP growth to slow to 2.9pc in 2019: WB

-- 2019-01-09 14:40:45

Global economic growth is projected to slow to 2.9 per cent in 2019 from a downwardly revised 3.0 per cent in 2018 amid rising downside risks, the World Bank said on Tuesday. In its newly-released Gl...

Mongla EPZ exports rise sixteen-fold in 10 years

-- 2019-01-08 17:37:26

The exports from Mongla Export Processing Zone (EPZ) increased 16 times in the past 10 years. Investments also witnessed an eleven-fold rise, while about 4,500 people make a living in the zone. &ldq...

Govt to sign deal with WB to create quality jobs

-- 2019-01-08 17:14:10

The World Bank will provide $250 million to support Bangladesh in strengthening its capacity to create more and better jobs for citizens, including women, youth and the vulnerable population. An offi...

BoP deficit rises to $837m in July-Nov

FE Report 2019-01-08 09:59:13

Bangladesh's overall balance of payment (BoP) recorded US$ 837 million deficit during the July-November period of this fiscal year (FY), 2018-19, over the corresponding period of the previous fiscal...

New finance minister sounds tough on loan defaulters

FE Report 2019-01-08 09:48:24

Newly-appointed Finance Minister AHM Mustafa Kamal asked the bankers on Monday to go tough on delinquent borrowers to help lower the size of non-performing loans (NPL). He told them to bring down the...

Wages may rise by 10pc in 2019: Survey

-- 2019-01-07 18:19:54

Companies may increase wages in Bangladesh by 10 percent in 2019, according to a survey by Mercer. The global consulting firm’s 2018 Bangladesh Total Remuneration Survey suggests the rise in sa...

BD economy world’s 41st largest: Study

FE Online Desk 2019-01-07 13:35:37

Bangladesh is the 41st largest economy in the world in 2019, according to a UK-based think tank. It is up by twp steps from last year, when the country was ranked 43rd largest economy, the Centr...

Move on for cost-free remittance by expats

FE Report 2019-01-07 09:33:13

A move is under way to facilitate sending of money back home free of cost by the Bangladeshi migrant workers. The Ministry of Finance (MoF) has prepared a concept paper on the issue. The government,...

'Bangladesh economy to enjoy happiest year in 2019'

-- 2019-01-06 21:49:58

The Global Economist Forum (GEF) has said the Bangladesh economy will enjoy one of the happiest years in 2019 in respect to economic freedom, which will help achieve above 7.5 per cent GDP growth. GE...

'Finance ministry to begin journey with new dimension'

-- 2019-01-06 20:26:20

Planning Minister AHM Mustafa Kamal, who is going to take the charge of finance ministry, has said the Ministry of Finance would begin its journey from Monday with a new dimension. Mustafa Kamal also...

Furniture export up 40.56pc during first half of FY19

-- 2019-01-05 20:04:14

The export of furniture is getting a boost as it accounted for $33.72 million during the first six months (July-December) of the current fiscal year (FY19), which is 40.56 per cent higher than that of...