Search results for: Economy

Indonesia's forex reserves drop to $130.8b at end-September

-- 2022-10-07 11:41:51

Indonesia's foreign exchange reserves fell by $1.4 billion last month to $130.8 billion due to payments of foreign debt and the central bank's effort to stabilise the rupiah currency, Bank Indonesia (...

No peace for India's rupee as mighty dollar thunders on: Poll

-- 2022-10-07 10:56:43

India's rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive US Federal Reserve rate-hiking campaign, according to a Reut...

SDGs seen not on track amid current geopolitics

FE REPORT 2022-10-07 08:32:08

Achieving SDG goals for Bangladesh and other developing countries is quite uncertain under the current state of economy and geopolitical situation, development experts told a seminar on Thursday. T...

Bangladesh may see slower GDP growth at 6.1pc

FE REPORT 2022-10-07 08:27:42

Bangladesh may see slower economic growth at 6.1 per cent in the current fiscal year, the World Bank says in a downbeat update citing umpteen adversities inside and abroad. The latest forecast growth...

WB lowers Bangladesh's growth forecast as global shocks spread

-- 2022-10-06 19:51:17

The World Bank has lowered its forecast for Bangladesh’s economic growth for fiscal 2022-23 by a 0.6 percentage point to 6.1 per cent. While economic distress is weighing down all South Asian c...

Achieving SDG uncertain with current state of economy

FE ONLINE REPORT 2022-10-06 18:32:35

Achieving SDG goals for Bangladesh and other developing countries is quite uncertain given the present state of the economy and geopolitical situation said speakers at a seminar on Thursday. They als...

World Bank cuts India's growth forecast to 6.5pc for 2022/23

-- 2022-10-06 17:54:33

The World Bank on Thursday slashed its growth forecast for India to 6.5 per cent year-on-year for 2022/23, from an earlier estimate of 7.5 per cent, while warning that spillovers from the Russia-...

Forex market may be more volatile unless reforms are done

-- 2022-10-06 15:40:26

Despite Bangladesh Bank's measures to rein in forex spending, the crisis of the US dollar drags on without any hint of ending anytime soon, said experts. Recent fall in inward remittances, earnings f...

Inflation down marginally from a decade high

FHM HUMAYAN KABIR 2022-10-06 09:01:51

Soaring inflation descended to 9.1 per cent in September from a decade-high 9.8 per cent in August by official count, under sobering impact of slowly improving global supply system. Planning Minister...

‘World unlikely to meet goal of ending extreme poverty by 2030’

-- 2022-10-05 20:10:42

The world is unlikely to meet a longstanding goal of ending extreme poverty by 2030 due to shocks related to the COVID-19 pandemic and the Russia-Ukraine war, the World Bank said in a new report relea...

World Bank sees weak growth in 2023 for eastern Europe, central Asia

-- 2022-10-05 15:05:51

The World Bank said on Tuesday that countries in eastern Europe and Central Asia will return to weak growth in 2023, but warned that a cut-off of Russian energy to the European Union would tip them in...

Singapore likely to tighten monetary policy

-- 2022-10-05 13:08:15

Singapore is likely to tighten monetary policy this month, the fifth time in a row, amid persistent inflation in the Asian financial hub due to global supply chain disruptions and a tight labour marke...

'Focus more on exports, import substitution'

FE REPORT 2022-10-05 08:35:57

The ongoing volatility on the foreign-exchange market cannot be addressed only through tightening imports, Bangladesh Bank (BB) spokesperson Md. Serajul Islam said on Tuesday, stressing the need for b...

Exchange rate volatility caused remittance slump in September: BB

-- 2022-10-04 22:09:44

Bangladesh Bank spokesperson Md. Serajul Islam on Tuesday blamed the extreme volatility in the forex market in recent months on the global strength of the dollar against almost all currencies. &ldquo...

Global recession can be avoided with right fiscal policies, says IMF chief

-- 2022-10-04 18:18:25

Global recession can be avoided if governments' fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next year, the International...

China likely to boost oil products exports into early 2023, support economy

REUTERS 2022-10-04 10:49:31

Chinese refiners are likely to boost refined oil products exports in the last two months of 2022 and into early 2023 after receiving the biggest allocation from Beijing this year, trade sources and an...

Korea raises ODA to $3b for Bangladesh

FE REPORT 2022-10-04 09:44:44

Seoul has recently decided to significantly increase its development loans for Dhaka to $3 billion from $700 million for a period of five years, Korean envoy Lee Jang Keun said. On the development fr...

'Inflation little down from a record high'

FE REPORT 2022-10-04 08:36:14

After hitting a reported new high in August, inflation eased in September for what Planning Minister MA Mannan said wider social safety-net programmes taken by the government for the commoners. The m...

Return submission up threefold

DOULOT AKTER MALA 2022-10-04 08:31:08

The submission of returns by individual taxpayers has gone up threefold this year, as the revenue board made submission of tax-return receipts mandatory while seeking services from various entities....

World economy to see 2.5pc growth in 2022, 2.2pc in 2023: UNCTAD

FE ONLINE DESK   2022-10-03 21:12:57

The United Nations Conference on Trade and Development (UNCTAD) has projected that the world economy would grow 2.5 per cent in 2022. UNCAD expected that growth to decline further to 2.2 per cent in...

Govt securities to trial trading in secondary market next week: BB Governor

-- 2022-10-03 20:13:54

Government securities will start trial trading in the secondary market from next week to turn the capital market vibrant, said Bangladesh Bank Governor Abdur Rouf Talukder on Monday. He said the coun...

Trade deficit widens 6.0pc to $4.56b in July-August

-- 2022-10-03 15:19:09

The trade gap of Bangladesh widened more than 6.0 per cent to $4.56 billion in the July-August period from a year earlier, according to data from Bangladesh Bank. The trend was also reflected in the...

UK forced into humiliating tax U-turn

-- 2022-10-03 14:10:43

British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn, reversing plans to cut the highest rate of income tax that helped to spark a rebellion in her party and tur...

Global gas markets to remain tight next year amid supply squeeze

-- 2022-10-03 11:41:03

Global gas markets are expected to remain tight next year as Russian pipeline gas supplies dwindle and gas demand falls in Europe in response to energy-saving measures and high prices, the Internati...

BD losing $6.0b for lower labour productivity

FE REPORT 2022-10-03 08:47:01

Experts have suggested taking prudent steps to control pollution and accelerate efforts to mitigate climate change (CC) impacts, as a recent global report said Bangladesh is losing about US$6.0 billio...

Export, remittance both record fall

FE REPORT 2022-10-03 08:31:42

Export earnings and remittance inflow both recorded substantial fall in September in tandem with a slide for months, which could stoke stress on Bangladesh's foreign-exchange reserves, sources say. O...

Bankers blame fixed exchange rate for 25pc drop in remittances

-- 2022-10-02 20:13:13

Bangladesh received inward remittances of $1.54 billion in September — a 25 per cent drop compared to August’s remittance. According to the latest data from Bangladesh Bank, the country r...

Bangladesh receives $1.54 billion in remittances in September

-- 2022-10-02 18:49:01

Expatriate Bangladeshis sent around $1,539.49 million in remittances during the month of September in fiscal 2022-23. From July to September of the current 2022-23 fiscal year, the total remittance i...

Some 345 million people facing food shortages due to Ukraine war, says IMF

-- 2022-10-02 18:36:41

The Ukraine war's disruptions to grain and fertiliser flows have prompted the worst food security crisis since at least the one following the 2007-2008 global financial meltdown, with some 345 million...

Exports drop 6.25pc in September

FE ONLINE REPORT 2022-10-02 17:48:39

The country's single-month merchandise export earnings in September 2022, after 13 months of robust growth, entered into negative territory mainly because of the decline in RMG shipments. Export earn...