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The Financial Express

Search results for: Economy

Bangladesh offers Nepal use of seaports for mutual benefits

Bangladesh offers Nepal use of seaports for mutual benefits

-- 2022-08-05 17:45:09

Bangladesh has again proposed Nepal to use Mongla and Chattogram seaports alongside Syedpur airport for mutual benefits.  Prime Minister Sheikh Hasina made the offer while a visiting parliamenta...

Japan takes step into green GDP research

Japan takes step into green GDP research

-- 2022-08-05 17:39:05

Japan on Friday took a first step into its research for a green gross domestic product (GDP) measurement that reflects the country's progress in reducing greenhouse gas emissions in its economic growt...

UN food price index falls again in July

UN food price index falls again in July

-- 2022-08-05 15:09:09

The United Nations food agency's world price index declined again in July, edging further away from all-time highs hit in March. The Food and Agriculture Organization's (FAO) index, which tracks the...

India central bank raises key rate for third time to tame inflation

India central bank raises key rate for third time to tame inflation

-- 2022-08-05 12:43:49

The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in as many months to cool stubbornly high inflation. With June retail inflation at 7...

Bangladesh’s economic indices rebound in July

Bangladesh’s economic indices rebound in July

FE ONLINE DESK 2022-08-05 11:01:18

The pressure on Bangladesh’s economy, generated by rising imports against less-than-sufficient exports and falling remittances amid escalating inflation, has eased slightly as the indices have r...

Global energy crisis drives rethink of nuclear power projects

Global energy crisis drives rethink of nuclear power projects

REUTERS 2022-08-05 10:33:28

The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970...

BB Governor asks banks to operate in compliance, good governance

BB Governor asks banks to operate in compliance, good governance

-- 2022-08-04 20:14:13

Bangladesh Bank Governor Abdur Rouf Talukder said that banks must comply with rules in debt management and other activities assuring that the central bank will ensure good governance in the banking se...

Ukraine needs to export 50m tons of grain this year 

Ukraine needs to export 50m tons of grain this year 

-- 2022-08-04 19:12:19

Ukraine needs to export some 50 million tons of grain in the 2022-2023 marketing year amid the need to store last year's crops and grain from the new harvest, an industry body said on Wednesday. ...

Non-exploration of domestic gas blamed for energy crunch

Non-exploration of domestic gas blamed for energy crunch

-- 2022-08-04 18:31:34

Speakers at a seminar, organised by FBCCI, blamed the lack of initiative in local gas exploration for the current energy crisis.  “Despite huge potentials, why have we failed to explore ou...

Hiring from Bangladesh falls 32pc in July

Hiring from Bangladesh falls 32pc in July

FE REPORT 2022-08-04 09:40:39

Bangladesh’s overseas employment dropped by more than 32 per cent in July 2022 over that of the previous month, as the recruitment demand from the vital job markets slowed to some extent, insi...

Central bank amends loan rescheduling policy

Central bank amends loan rescheduling policy

FE REPORT 2022-08-04 08:59:01

The central bank has amended loan-rescheduling and restructuring policy, asking banks to classify the rescheduled loans if the borrowers failed to repay their instalments within six months, officials...

AD banks can retain value-added amount for fifteen days

AD banks can retain value-added amount for fifteen days

SIDDIQUE ISLAM 2022-08-04 08:49:42

All authorized dealer (AD) banks can now retain value-added portion of export proceeds in foreign currency for 15 days, as the central bank bends rules to boost Bangladesh's forex reserves. The Bangl...

Fund flight occurs thru export-import mismatch

Fund flight occurs thru export-import mismatch

FE REPORT 2022-08-04 08:32:19

Finance Minister AHM Mustafa Kamal dismisses any link of the price hike of fertiliser and planned raise in prices of energy and power with conditions binding a proposed IMF loan, as he vows early ec...

Request for funds will safeguard Bangladesh from further deterioration: IMF

Request for funds will safeguard Bangladesh from further deterioration: IMF

-- 2022-08-03 20:25:21

The International Monetary Fund has reassured Bangladesh of support, saying funds requested by the country will “safeguard it from further deterioration of external conditions”. Even as B...

Bangladesh Bank eases rules on encashment of export proceeds 

Bangladesh Bank eases rules on encashment of export proceeds 

-- 2022-08-03 19:46:30

The Bangladesh Bank (BB) has eased rules on the encashment of the value-added portion of repatriated export proceeds in order to bring flexibility to trade transactions.   "To bring flexibi...

Kamal hopes BD economy will be back to previous track soon

Kamal hopes BD economy will be back to previous track soon

-- 2022-08-03 18:52:47

Finance Minister AHM Mustafa Kamal has said Bangladesh's economy will return to old track very soon overcoming the challenges of the Covid-19 pandemic and the Ukraine-Russia war.  "Now our first...

IMF loan would help economy gain stability in reserves, dollar market, experts say 

IMF loan would help economy gain stability in reserves, dollar market, experts say 

-- 2022-08-03 17:47:12

Bangladesh is expecting around USD $4.5 billion loan from the International Monetary Fund (IMF) as a precautionary measure and stabilising foreign exchange reserves.  In the wake of a record $30...

Sri Lanka to restart bailout talks with IMF in August

Sri Lanka to restart bailout talks with IMF in August

-- 2022-08-03 15:40:11

Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president said on Wednesday, while calling on lawmakers to form an all-party government to resolve a...

Inflation eases to 7.19pc in July

Inflation eases to 7.19pc in July

FE ONLINE DESK 2022-08-03 14:46:39

Bangladesh's overall inflation marginally decreased to 7.48 per cent in July from June's 7.56, according to data released by the Bangladesh Bureau of Statistics (BBS). The food inflation decreased to...

Bangladesh Bank suspends five money changers

Bangladesh Bank suspends five money changers

-- 2022-08-02 18:49:32

Bangladesh Bank (BB) has suspended the operations of five money changers for keeping dollars beyond the limit and other irregularities.  The central bank also sent show-cause notices to 42 money...

Emphasis on building awareness for success of impact investment 

Emphasis on building awareness for success of impact investment 

-- 2022-08-02 18:44:20

Experts have observed that building awareness is critical to the success of impact investment in Bangladesh.  They opined that impact investment is defined as investments made with the intention...

ECNEC approves seven projects worth Tk 20.07 billion

ECNEC approves seven projects worth Tk 20.07 billion

-- 2022-08-02 17:11:54

The Executive Committee of National Economic Council (ECNEC) has development projects with an estimated cost of Tk 20.07 billion.  The meeting also suspended a Tk 2.36 billion project of Teletal...

Exports rise 14.70pc year-on-year in July

Exports rise 14.70pc year-on-year in July

FE Online Report 2022-08-02 16:41:45

The country's merchandise export earnings maintained moderate growth in the first month of the current fiscal year (FY23), posting over 14.70 per cent rise to $3.98 billion year-on-year as a result of...

Teletalk's 5G expansion plan suspended amid forex crunch

Teletalk's 5G expansion plan suspended amid forex crunch

-- 2022-08-02 15:55:37

Prime Minister Sheikh Hasina has decided to put the Tk 2.36 billion 5G network expansion project by state-owned telecom operator Teletalk in ‘important’ Dhaka areas on hold amid Bangladesh...

US targets Chinese, UAE firms in new Iran oil sanctions

US targets Chinese, UAE firms in new Iran oil sanctions

-- 2022-08-02 12:11:37

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise...

Bangladesh receives $2.09b remittance in July, highest in 14 months

Bangladesh receives $2.09b remittance in July, highest in 14 months

-- 2022-08-01 21:50:12

Expatriates sent inward remittances worth $2.09 billion in July, the first month of the current fiscal year, Bangladesh Bank (BB) report said. The BB report released on Monday stated that the remitta...

Rouble bounces back from more than three-week lows against dollar, euro

Rouble bounces back from more than three-week lows against dollar, euro

-- 2022-08-01 21:09:47

The rouble bounced back from more than three-week lows against the dollar and euro in Moscow trade on Monday, supported by strong fundamentals while buffeted by lower oil prices and the end of a favou...

Trade deficit crosses $33b in FY22

Trade deficit crosses $33b in FY22

FE ONLINE REPORT 2022-08-01 19:11:38

The country’s deficit in trade in goods with the rest of the world crossed US$33 billion in the last fiscal year (FY22), according to the central bank’s updated statistics released on Mond...

BEPZA economic zone gets $28m more investment 

BEPZA economic zone gets $28m more investment 

-- 2022-08-01 18:46:04

M/s Nova Intima Limited, a Hong Kong-British Virgin Island owned ladies undergarments manufacturing company, has signed an agreement to invest $ 28 million in BEPZA Economic Zone (BEPZA EZ).  El...

Bangladesh Bank hikes interest rate of NFDC

Bangladesh Bank hikes interest rate of NFDC

-- 2022-08-01 18:16:51

Bangladesh Bank (BB) has increased and fixed the interest rate of non-resident foreign currency deposit (NFCD) accounts to encourage inward foreign currency.  For one year and up to three years...