Search results for: Economy

BOK holds key interest rate steady

-- 2018-01-18 12:00:00

The Bank of Korea (BOK) has kept interest rates unchanged on Thursday, as expected, on the uncertainties of inside and outside of the country. The BOK Governor Lee Ju-yeol said, “We decided to...

ADB to support Bangladesh in implementing SDGs

FE Online Desk 2018-01-18 12:00:00

Asian Development Bank (ADB) reaffirmed its commitment to support Bangladesh in achieving the Sustainable Development Goals (SDGs). ADB’s Vice-President Wencai Zhang said it on Thursday. Zhang...

Economists fear family ‘oligopoly’ in banking

Jasim Uddin Haroon 2018-01-18 10:21:35

Financial experts said majority stakeholders of banks disfavor the latest legal amendment as they fear inducting four members of a family into bank boards would help establish oligopoly in the banki...

Govt seeks development partners’ financing for achieving SDGs

FE Online Desk 2018-01-18 10:19:37

Finance Minister Abul Maal Abdul Muhith has sought financing by development partners for successfully attaining the SDGs. The minister also asked them not to take away their attention from Bangladesh...

Amendment to policy on VAT consultants' appointment soon

Doulot Akter Mala 2018-01-18 09:54:52

The revenue authorities will recast the policy on appointment of VAT consultants to prevent alleged abuse of licence for this service and appoint more such go-betweens in the tax collection. Official...

Taka falling against US$ despite BB's support

Siddique Islam 2018-01-18 09:36:29

Depreciating trend of the local currency against the US dollar is continuing despite the central bank's foreign currency support to the commercial banks. The exchange rate of Bangladesh Taka (BDT)...

BDF meet ends; Thrust on collaboration between dev partners to achieve SDGs

FE Online Report 2018-01-18 06:32:01

The two-day Bangladesh Development Forum (BDF) in the capital ended Thursday seeking higher assistance from the overseas development partners to achieve sustainable development goals (SDGs). The gove...

BD needs to improve domestic efficiency to face challenges: Experts

-- 2018-01-18 03:46:42

Experts have suggested Bangladesh needs to improve internal domestic efficiency, existing labour force and financial sector to cope with the challenges they might face once it gets out of the status o...

S Korea to shut down cryptocurrency exchanges

Reuters 2018-01-18 02:41:04

South Korean policymakers joined the global chorus of virtual-coin critics on Thursday, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes...

Multilayer taxation on dividend hurting investment growth

M Azizur Rahman 2018-01-17 12:00:00

Big entrepreneurs shy away from reinvesting their profit in new ventures or limiting necessary expansions in fear of huge monetary losses under Bangladesh's 'complex' multilayered dividend-taxation sy...

Skilled workers' outflow jumps by 36pc

Arafat Ara 2018-01-17 12:00:00

The outflow of Bangladeshi skilled workers surged by more than 36 per cent last year compared with a year ago helped by the government efforts, officials said. A total of 434,344 skilled workers went...

Trade gap with India reaches $5.47 billion

FE Online Report 2018-01-17 12:00:00

The country’s trade deficit with India stood at $5.47 billion in the past fiscal year (FY17) mainly due to a surge in imports from the next door neighbour. Merchandise import from India jumped...

Saudi Arabia moves to back weak Yemeni currency

-- 2018-01-17 12:00:00

Saudi Arabia’s King Salman ordered a deposit of $2 billion to be paid into Yemen’s central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said. The move was...

79 source points of illegal gas connections remain untouched

Jubair Hasan 2018-01-17 09:47:53

Seventy nine source points of illegal gas connections in the capital, largely contributing to the ongoing gas crisis, have been untouched due to reasons hitherto unknown. No possibility is seen to ta...

LPG demand to reach 3.0m tonnes by 2025

FE Online Report 2018-01-17 09:34:47

World LPG Association (WLPGA) sees Bangladesh as one of the fastest-growing LPG markets across world and predicted that demand for the fuel might reach upto 3.0 million tonnes by 2025. WLPGA director...

Thrust on BD to make excellent SDG progress

-- 2018-01-17 09:16:15

Bangladesh, following its outstanding progress made earlier on the key millennium development goals (MDGs), can make similar progress in line with the sustainable development goals (SDGs). Mission Di...

Germany-BD sign €330m deal to fight climate change

-- 2018-01-17 04:01:46

Germany and Bangladesh sign €337.2 million deal to support sustainable development. It includes €216 million towards climate smart agriculture programmes and modernising the electricity gri...

S’pore exports growth slows in Dec

-- 2018-01-17 02:24:43

Growth in Singapore’s export sector slowed more than expected in December from a year earlier due to a fall in electronics trade and the first decline in shipments to China in more than a year....

Russia to spend more on healthcare, education: WB

-- 2018-01-17 01:47:49

Russia’s new government should invest more in education and healthcare to help spur the country’s economic growth, the World Bank’s chief executive officer said on Tuesday. Presiden...

Mauritius to hire more Bangladeshi workers

FE Report 2018-01-16 12:00:00

Satisfied with the performance of Bangladeshi migrants, Mauritius said it would hire more workers from Bangladesh in different sectors. A memorandum of understanding (MoU) will be signed between the...

Amended bank law allows four family members on board

-- 2018-01-16 12:00:00

Four members of a family instead of existing two now can be inducted in the board of directors of a bank at a time. The parliament on Tuesday approved the Bank Company (Amendment) Bill 2018, keeping...

Revenue growth may remain well below the target

Doulot Akter Mala 2018-01-16 09:34:29

Growth in this fiscal's government tax-revenue collection may decline substantially, economists predict, as the first-half receipts fell short of target by Tk 126.21 billion. They read a reflection o...

Nigerian inflation slows to 15.37pc in Dec

-- 2018-01-16 03:21:33

Nigerian inflation slowed for the 11th month in a row in December, to 15.37 per cent from 15.90 per cent a month before, the head of the National Bureau of Statistics (NBS) said on Tuesday. The NBS...

China likely to target 6.5pc GDP in 2018

-- 2018-01-16 02:48:38

China is likely set its 2018 economic growth target at around 6.5 per cent as a government-led crackdown on debt risks and factory pollution drag on overall activity, a Reuters poll showed. The poll...

Half of NGOs still out of tax net

Doulot Akter Mala 2018-01-15 12:00:00

Half of the country's non-government organisations (NGOs) are still remained out of the tax net, causing significant losses of direct tax. Of the total 961 NGOs registered with the NGO Affairs Bureau...

BAPEX estimates 600b cubic feet gas reserve in new well

-- 2018-01-15 12:00:00

State-owned Bangladesh Petroleum Exploration and Production Company (BAPEX) hopes that natural gas in new-found Bhola field will be nearly 600 billion cubic feet. An exploratory well at Bheduria in t...

Meeting with donors to begin Wednesday

FE Online Report 2018-01-15 12:00:00

The government-development partners meeting, Bangladesh Development Forum (BDF), will begin on Wednesday in Dhaka with the presence of high officials from major donor agencies. The government officia...

Banks’ interest rate spread falling

Siddique Islam 2018-01-15 10:38:49

A declining trend of interest rate spread in the country's banking sector continued until November, as the commercial banks slashed their interest rates more on lending than on deposits, officials sai...

Record number of workers went abroad in 2017 

-- 2018-01-15 10:27:10

A record number of 1.01 million workers went abroad in 2017, which is roughly 0.25 million more than that of the previous year. Expatriates' Welfare and Overseas Employment Minister Nurul Islam infor...

BoJ chief expects to hit inflation goal

-- 2018-01-15 03:12:07

Bank of Japan Governor Haruhiko Kuroda on Monday reiterated his expectation to achieve the central bank’s ambitious 2.0 per cent inflation target. The BoJ governor’s positive comments on...