Search results for: Economy

India's Adani Group to invest over $100b in next decade

-- 2022-09-27 13:32:25

India's Adani Group will invest more than $100 billion in the next decade, Chairman Gautam Adani, the world's second-richest person, told a Forbes Global CEO Conference in Singapore, reports...

Dollar exchange rates revised with Tk 107.50 cap

FE REPORT 2022-09-27 08:23:01

Bangladesh's top bankers have decided on uniform rates in foreign-exchange dealings with a Tk 107.50 cap per dollar for inward remittances, to complement the government's bid to stabilise the wayw...

Bangladesh Bank re-fixes interest rate on pre-finance facility under SREUP

-- 2022-09-26 20:58:36

Bangladesh Bank (BB) has re-fixed the interest rate on the pre-finance facility under the support safety retrofits and environmental upgrades programme (SREUP). "At the customer level, the interest r...

Bangladesh allocates 300 acres of land for Saudi companies in EPZ

FE ONLINE REPORT 2022-09-26 20:46:51

Bangladesh government has allocated 300 acres of land for Saudi companies in Bangabandhu EPZ. Saudi Ambassador in Dhaka said this while addressing a function organised to observe the 92nd National Da...

British pound plunges to new low against USD

-- 2022-09-26 20:16:14

The British pound fell to all-time low against the US dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fuelling concerns about the government's economic...

Pakistan's finance minister says he will formally resign from role

-- 2022-09-26 13:44:25

Pakistan's finance minister Miftah Ismail said on Sunday he planned to formally resign from the role, a change that comes as the country grapples with an economic crisis exacerbated by destructi...

Bangladesh-China bilateral trade crosses $25b

FE ONLINE REPORT 2022-09-25 18:03:56

Chinese ambassador Li Jiming informed that bilateral trade between Bangladesh and China exceeded US$25 billion. Terming the economic cooperation between the two countries 'most eye-catching’&nb...

World Bank study finds three obstacles to Bangladesh’s economic reform

-- 2022-09-25 17:55:20

World Bank, in a study, has found three obstacles to Bangladesh’s economic reform. Without massive reforms, Bangladesh’s gross domestic product (GDP) could fall below 4.0 per cent by 2035,...

83.9pc MIs faced Covid-induced business loss, says study

FE ONLINE REPORT 2022-09-24 18:10:06

As high as 83.9 per cent of Microfinance Institutions (MIs) in the country faced reduced income or loss in business due to the Covid-19 pandemic in the country, according to a new study. Also, 40 per...

Sri Lanka aims to have $2.9b IMF loan finalised in December

-- 2022-09-24 15:15:29

Sri Lanka expects the International Monetary Fund board to approve a $2.9 billion loan by year-end, officials from the country's central bank told investors during a virtual presentation on Friday, so...

Returnees from reverse migration on repeat exodus

DOULOT AKTER MALA 2022-09-24 08:27:56

Gruelling inflation now forces a section of low-income people either to go back to villages or shift their family members as a coping strategy, in a repeat of the corona-driven reverse migration. S...

Facing calls to resign, World Bank's Malpass changes answer on climate crisis

-- 2022-09-23 19:11:57

Under pressure to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday it was clear greenhouse emissions are c...

FBCCI seeks US investment in SEZ, hi-tech parks

-- 2022-09-23 15:51:18

The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has invited US entrepreneurs to invest in Bangladesh‘s ICT sector after Prime Minister Sheikh Hasina declared to establ...

New UK finance minister Kwarteng seeks end to 'cycle of stagnation'

-- 2022-09-23 15:45:06

Britain's new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, with British government bonds...

Sri Lanka to unveil debt restructuring plan to creditors

-- 2022-09-23 13:04:41

Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share plans to tackle the island's wors...

A double regression on poverty, child labour feared

DOULOT AKTER MALA 2022-09-23 08:53:30

Halima has sent her son to a motor workshop in Dhaka's Banglamotor area, at age as early as 11 years. It, evidently, represents a double regression, from progression in poverty alleviation and child-l...

Jobs in renewable energy sector rise to 12.7m globally

-- 2022-09-22 20:02:53

Despite the lingering impacts of Covid and the growing energy crisis, people employed globally in the renewable energy sector reached 12.7 million last year, an increase of 700,000 new jobs in just 12...

NBR collects record Tk 87.33b VAT in Aug

-- 2022-09-22 18:08:14

National Board of Revenue (NBR) has collected Tk 87.33 billion of revenue from value added tax (VAT) in August – showing a 20 per cent year-on-year growth. NBR’s collected VAT revenue in...

Sri Lanka set to begin talks to restructure debt of $30b

-- 2022-09-22 18:02:34

Crisis-hit Sri Lanka will begin on Friday the tricky task of debt renegotiation with a raft of private and bilateral creditors, including China, India and Japan, to restructure and repay nearly $30 bi...

BB yet to allow Rupee in foreign trade

-- 2022-09-22 16:53:08

Bangladeshi businesses won’t be able to use Indian Rupee for foreign trade as Bangladesh Bank (BB) is yet to enlist Rupee to settle letters of credit (LC). BB spokesperson and executive directo...

Gaping inequality for wealth over-concentration raises alarm

DOULOT AKTER MALA 2022-09-22 08:13:37

Gales of economic blows are exposing aggravation of income inequality in Bangladesh as unbridled inflation is eroding commoners' ever-shriveling incomes while pampering the super-rich, surveys show....

ADB cuts growth forecast to 6.6pc

FE REPORT 2022-09-22 08:04:01

Bangladesh may see lower GDP growth at 6.6 per cent in the current fiscal year for some global and local shocks to the economy, the Asian Development Bank says in its latest forecast. The ADB project...

JICA’s help sought for modernising power sector in south-western region 

-- 2022-09-21 19:29:22

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has sought the cooperation of the Japan International Cooperation Agency (JICA) to modernise the gas and electricity transmission an...

ADB projects 6.6pc GDP growth for Bangladesh in FY23

-- 2022-09-21 18:22:52

The Asian Development Bank (ADB) has projected 6.6 per cent economic growth for Bangladesh for the current fiscal year (FY23). Country Director of the ADB to Bangladesh Edimon Ginting has noted that...

World Bank Vice President reiterates continued support to Bangladesh

FE ONLINE REPORT 2022-09-21 15:29:13

The World Bank’s Vice President for South Asia Martin Raiser reaffirmed the World Bank's continued support for green, resilient, and inclusive growth in Bangladesh. He made the assurance as his...

ADB lowers growth forecast for Asia and the Pacific to 4.3pc

FE ONLINE REPORT 2022-09-21 14:37:50

The Asian Development Bank (ADB) again lowered its forecasts for economic growth in developing Asia and the Pacific, amid mounting challenges that include increased monetary tightening by central bank...

World Bank to publicise Bangladesh's dev success

FE REPORT 2022-09-21 10:13:07

World Bank vice president for South Asia Region Martin Raiser sings the praise of Bangladesh's constant progress which he bills a role model for many countries to follow. Officials said the visiting...

ADP execution still in slow lane despite economic recovery

FHM HUMAYAN KABIR 2022-09-21 10:05:54

The government agencies have failed to improve their project execution capacity as they implemented only 3.85 per cent of the development budget in the July-August period of this fiscal year, official...

India says it starts talks with Sri Lanka on restructuring debt

-- 2022-09-20 20:35:56

India said on Tuesday it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbour mainly through long-term investments after providing nearly $4 billio...

Kamal seeks more ADB support to face post-LDC graduation challenges

-- 2022-09-20 19:10:11

Finance Minister AHM Mustafa Kamal has urged the Asian Development Bank (ADB) to provide more support to Bangladesh in facing the post-LDC graduation-related challenges. He made the request when ADB...