Loading...
The Financial Express

Search results for: Economy

OPEC says it should not be blamed for oil price hike

OPEC says it should not be blamed for oil price hike

-- 2022-08-19 16:04:03

Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, the producer group's new Secretary General Haitham Al Ghais told Reuters on Thurs...

Dollar manipulation: BB issues show-cause notices to six bank MDs

Dollar manipulation: BB issues show-cause notices to six bank MDs

-- 2022-08-18 16:21:10

Bangladesh Bank (BB) has issued show cause notices to the managing directors (MDs) of banks for their alleged involvement in dollar manipulation. Besides, the investigation is going on against 12 oth...

Australia jobless rate hits fresh 48-year low

Australia jobless rate hits fresh 48-year low

-- 2022-08-18 13:21:18

Australia's jobless rate dropped to a fresh 48-year low in July even as employment broke a super-strong run with the first fall this year, a mixed report that might hint at some cooling in the red-hot...

Non-tax revenue notches down

Non-tax revenue notches down

JASIM UDDIN HAROON 2022-08-18 08:00:27

Non-tax revenue (NTR), the second-biggest source of government revenues, contracted more than 33 per cent in ten months to last April, with its impact on total resource mobilisation in the last fiscal...

Oil climbs $2.0 as US crude stocks plunge on strong export demand

Oil climbs $2.0 as US crude stocks plunge on strong export demand

-- 2022-08-17 21:25:37

Oil climbed about $2.0 after hitting a six-month low earlier on Wednesday as US government data showed a much larger than expected draw in crude inventories thanks to strong export demand. US crude s...

Central bank fixes ceiling on profit for money changers

Central bank fixes ceiling on profit for money changers

-- 2022-08-17 18:40:28

After setting a cap on the gap between the buying and selling rates of the dollar against the Bangladesh currency in banks, the central bank has now fixed a ceiling on the profit by money changers. T...

Lending decision on Bangladesh in October, says IMF

Lending decision on Bangladesh in October, says IMF

-- 2022-08-17 17:00:14

Bangladesh has to wait until October for the International Monetary Fund (IMF) to take a final call on its request to borrow funds from the Washington-based lending agency,  according to a region...

Biden signs inflation act

Biden signs inflation act

-- 2022-08-17 11:07:36

US President Joe Biden on Tuesday signed into law a $430 billion bill that is seen as the biggest climate package in the country's history, designed to cut domestic greenhouse gas emissions as well as...

Bangladesh to get easier access to UK market in post-LDC era

Bangladesh to get easier access to UK market in post-LDC era

FE REPORT 2022-08-17 10:06:26

The United Kingdom (UK) on Tuesday launched the Developing Countries Trading Scheme (DCTS), offering 65 developing countries, including Bangladesh, an easier market access to their market with reduced...

Stress on BoP likely to continue

Stress on BoP likely to continue

FE REPORT 2022-08-17 08:52:28

The ongoing pressure on Bangladesh's balance of payments (BoP) is likely to continue in the coming years due to uncertainties surrounding global developments, an IMF spokesperson warned on Tuesday. H...

India wants to start CEPA talks in Sept

India wants to start CEPA talks in Sept

SYFUL ISLAM 2022-08-17 08:33:53

India wants to start negotiations with Bangladesh for signing a Comprehensive Economic Partnership Agreement (CEPA) soon, preferably next month, as a joint study on the proposed pact was accepted by...

UK sees biggest rise in foreign workers since COVID-19 pandemic

UK sees biggest rise in foreign workers since COVID-19 pandemic

-- 2022-08-16 20:08:39

Britain recorded its biggest rise in foreign workers since the start of the COVID-19 pandemic in the year to June, driven overwhelmingly by workers from outside the European Union, official figures sh...

BB sets cost limit for short-term trade finance in forex

BB sets cost limit for short-term trade finance in forex

-- 2022-08-16 19:59:16

Bangladesh Bank (BB) has set the all-in-cost ceiling for short-term trade finance in foreign exchange. A BB circular stated that all-in-cost will include the entire cost of a financial transaction, b...

Foreign ministry starts searching cheaper sources of oil

Foreign ministry starts searching cheaper sources of oil

FE ONLINE REPORT 2022-08-16 19:43:56

In line with the instruction of Prime Minister Sheikh Hasina, Bangladesh's foreign ministry has started looking for cheaper oil sources. The foreign ministry also keep Russia in mind as an alternate...

Britain launches trade system for developing countries

Britain launches trade system for developing countries

-- 2022-08-16 14:47:23

Britain has launched a scheme to extend tariff cuts to hundreds of products, such as clothes and food, from developing countries, part of London's post-Brexit efforts to set up systems to replace thos...

Seven sub-committees formed to address challenges of LDC graduation

Seven sub-committees formed to address challenges of LDC graduation

FE ONLINE DESK 2022-08-16 10:13:56

Some seven sub-committees are preparing draft strategies with a time-bound action plan to meet the challenges of LDC graduation. According to an official document,Bangladesh will be facing some chall...

Ashuganj port rail-link project: BIWTA to use govt fund instead of Indian LoC

Ashuganj port rail-link project: BIWTA to use govt fund instead of Indian LoC

FHM HUMAYAN KABIR 2022-08-16 08:50:42

The Bangladesh Inland Water Transport Authority (BIWTA) has denied Indian line of credit (LoC) for installing a railway connection with the Ashuganj river port, insiders said on Monday. Instead, the...

Oil prices fall by more than $4.0 a barrel

Oil prices fall by more than $4.0 a barrel

-- 2022-08-15 20:12:57

Oil prices fell by more than $4.0 a barrel on Monday on demand fears as disappointing Chinese economic data renewed global recession concerns. Brent crude futures fell $4.35, or 4.43 per cent, to $93...

Indonesia plans fuel price hike to control ballooning subsidies

Indonesia plans fuel price hike to control ballooning subsidies

-- 2022-08-15 18:46:32

Indonesia plans to hike fuel prices to control ballooning energy subsidies, media reported on Monday, citing comments from the country's energy minister. Reuters says the price hike will be complemen...

China cuts key rates as economic data disappoints

China cuts key rates as economic data disappoints

-- 2022-08-15 10:40:55

China's economy unexpectedly slowed in July, data showed on Monday, with factory and retail activity squeezed by Beijing's zero-Covid policy and a property crisis, while the central bank surprised mar...

Banks’ provisioning shortfall narrows

Banks’ provisioning shortfall narrows

FE REPORT 2022-08-15 08:57:04

Overall loan-provisioning shortfall in Bangladesh's banking sector narrows a bit to Tk 132.19 billion, as of last June, and experts suggest quicker improvements as inadequate security is deemed risky....

BD economy under pressure

BD economy under pressure

FE REPORT 2022-08-15 08:51:17

Bangladesh's steadily-growing economy is under pressure for disruption to global supply chain for external disturbance, experts alert and say food security facing 'threat' amid high inflation. Rising...

Fuel price hike: 'I might start begging in the street'

Fuel price hike: 'I might start begging in the street'

-- 2022-08-14 21:59:28

Bangladesh, one of the world's fastest-growing economies, has raised fuel prices by more than 50 per cent in just a week. It blames rising oil prices in the wake of the war in Ukraine. A 35-year-old...

Central bank revises cluster credit guidelines to boost small enterprises

Central bank revises cluster credit guidelines to boost small enterprises

-- 2022-08-14 21:14:57

Bangladesh Bank (BB) has revised guidelines easing its policy and definition of cluster financing to grow specialised products in a specific area in the country. SME & Special Programmes Departme...

91pc SMEs don't get bank loans

91pc SMEs don't get bank loans

-- 2022-08-14 19:52:31

The commercial banks are reluctant to provide loans to small and medium enterprises (SMEs) although the sector is the backbone of the country's economy, the experts said Sunday. "Commercial banks pro...

BB caps difference between dollar buying and selling rates at Tk 1

BB caps difference between dollar buying and selling rates at Tk 1

-- 2022-08-14 19:01:38

The gap between the buying and selling rates of the dollar against the Bangladesh currency will be a maximum of Tk 1.0, according to the central bank. Bangladesh Bank took the decision in a meeting w...

India's July inflation eases to 6.71pc as some commodity prices fall

India's July inflation eases to 6.71pc as some commodity prices fall

REUTERS 2022-08-14 14:00:32

India's consumer inflation dipped to 6.71 per cent in July, easing for the third month in a row, helped by a slower increase in food and fuel prices and adding to expectations that the central b...

Bangladesh economy no longer dependent on foreign aid: Shirin

Bangladesh economy no longer dependent on foreign aid: Shirin

-- 2022-08-14 13:00:18

Speaker Dr Shirin Sharmin Chaudhury today (August 14, 2022) said Bangladesh economy is no longer dependent on foreign aid as she held a meeting with UNDP Assistant Secretary General Kanni Wignaraja at...

BD an important country for dev financing: AFD

BD an important country for dev financing: AFD

FE Report 2022-08-14 08:48:08

The Agence Francaise de Developpement (AFD), the French government's funding agency, considers Bangladesh as an important country in South Asia for development funding since 22 projects with portfolio...

BB mulling fresh rules to manage forex volatility

BB mulling fresh rules to manage forex volatility

Siddique Islam 2022-08-14 08:34:23

The central bank is trying to set fresh rules on managing the volatility in foreign-exchange (forex) market and curb the falling trend of forex reserves. As part of the latest move, the Bangladesh Ba...