Search results for: Economy

Banks miss CMSMEs stimulus loans disbursement target: BB report

-- 2022-08-01 17:33:36

Despite the central bank's priority, banks have failed to achieve the stimulus loans (phase-2) disbursement target among cottage, micro, small and medium entrepreneurs (CMSMEs). According to the late...

Inflation begins to strain finances of young, low-income Americans

REUTERS 2022-08-01 11:29:01

As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure. Generation Z consumers and those with low credit scores are...

Upskilling youths begins for higher productivity

FE REPORT 2022-08-01 08:27:00

Upskilling employable youths begins soon for raising productivity at home and remittance from abroad from high-end jobs, as the government prepares a recipe to that end. Sources say the government ha...

Investment climate constraints impede higher growth: US report

FE Online Report 2022-07-31 19:51:29

Investment climate constraints, deficiencies in energy and transportation infrastructure and an opaque regulatory environment have prevented Bangladesh from achieving higher growth, said the US State...

Bangladesh to continue to attract increasing investment despite issues, US govt says 

-- 2022-07-31 18:30:37

Bangladesh will likely continue to attract increasing investment, despite severe economic headwinds created by the global outbreak of Covid-19, says the United States.  The US sees sustained eco...

UK businesses expect zero growth over next 3 months, survey shows

REUTERS 2022-07-31 11:56:23

British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand, a monthly survey showed on Sunday. The Confederation of British Industry...

Sri Lanka's Wickremesinghe says IMF accord pushed back after unrest

-- 2022-07-31 10:35:34

Sri Lankan President Ranil Wickremesinghe said on Saturday that an agreement with the International Monetary Fund has been pushed back to September due to the unrest over the past weeks, the Associate...

Trade, investment in post-LDC era: Tokyo to help Dhaka on roadmap

REZAUL KARIM 2022-07-31 08:09:40

Japan is expected to assist Bangladesh to prepare a roadmap with a view to facing challenges after its graduation from the Least Developed Countries (LDC) club in 2026. To this effect, a five-membe...

Legal framework on access to NDB loans drafted

DOULOT AKTER MALA 2022-07-31 07:58:10

Bangladesh has drafted a legal framework to make the way for getting access to credit from the BRICS-led New Development Bank (NDB). The Economic Relations Division (ERD) under the Ministry of Financ...

Sri Lanka resumes bailout discussions with IMF, finance ministry says

-- 2022-07-30 11:56:22

Sri Lanka has resumed technical discussions with the International Monetary Fund on a potential bailout after a new government took office, the finance ministry said on Friday, Reuters reports. Discu...

PM adviser Salman says govt austerity measures, BB’s control paying off

FE ONLINE DESK 2022-07-30 10:39:11

Bangladesh prime minister’s Private Industry and Investment Adviser Salman F Rahman has said the austerity measures initiated by the government and the central banks to rein in a bullish trend o...

Bangladesh, Uzbekistan agrees to re-start direct flights

FE ONLINE REPORT 2022-07-29 18:57:30

Uzbekistan agreed to start Dhaka-Tashkent direct flights, and to ease the procedure to issue visas to Bangladeshis, foreign minister Dr AK Abdul Momen said on Friday. ‘Both the countries agreed...

Inflation hits record 8.9pc in 19 European countries

-- 2022-07-29 18:38:23

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia’s war in Ukraine, but the economy still managed bet...

Bangladesh, UAE agree to boost bilateral ties

-- 2022-07-29 17:16:25

Bangladesh and the United Arab Emirates (UAE) have discussed a roadmap for future cooperation agenda, including high-level visits to mark the Golden Jubilee of Bangladesh-UAE diplomatic relations in 2...

Sri Lanka's inflation surges to a record 60.8pc

-- 2022-07-29 17:00:09

Sri Lanka's inflation surged to a record 60.8 per cent in July, the crisis-struck country's statistics department said on Friday, compared to a 54.6 per cent rise in June. The jump in the Colombo Con...

World Bank says no new plans for financing for Sri Lanka

-- 2022-07-29 11:47:40

The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday. The World Bank stressed that Sri Lan...

Some Asia economies may need rapid rate hikes to cool inflation: IMF

-- 2022-07-29 11:08:29

Several Asian central banks must raise interest rates rapidly, because inflationary pressures are rising due to a global surge in food and fuel costs caused by the war in Ukraine, said a senior Intern...

Bangladesh seeks $2.0b from World Bank, ADB to stabilise economy

FE ONLINE DESK 2022-07-29 10:43:38

The government has requested $2.0 billion from the World Bank and the Asian Development Bank in budget aid to prop up the economy on the edge due to the Ukraine-Russia war following the pandemic. Ban...

US GDP shrinks in second quarter. Is the nation in recession?

-- 2022-07-28 21:47:38

The US economy shrank for a second straight quarter, data released on Thursday showed, amplifying an ongoing debate over whether the country is, or will soon be, in recession. The 0.9 per cen...

Bangladesh Bank raises farm loan disbursement target by 8.88pc

-- 2022-07-28 18:25:47

Bangladesh Bank (BB) has raised the agriculture and rural loan disbursement target by 8.88 per cent to Tk 0.30 trillion for the current 2022-23 financial year (FY23). The disbursement target for the...

Bangladesh receives €2.0m EU support to strengthen social security

-- 2022-07-28 18:07:09

The European Union (EU) has transferred EUR 2.0 million (around Tk 200 million) to the government of Bangladesh to strengthen key areas of its social security system. It has a specific focus on stren...

China targets $148bn in financing for cash-strapped developers

-- 2022-07-28 17:11:04

China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, reports Reutesr on Thursday citing Financial Times, as it tries to revive the d...

Mongla port flags off its first garment shipment, paving way for new exports

-- 2022-07-28 14:54:28

For the first time, a shipment of garments produced in Bangladesh has been shipped abroad from Mongla port, opening a new avenue for the export sector in the country, bdnews24.com reports. The Maersk...

PM stresses export instead of remittance to earn foreign currencies

-- 2022-07-28 13:44:07

Prime Minister Sheikh Hasina has underlined the need for focusing on export to earn foreign currencies instead of depending on remittance, BSS reports. "We have to more focus on export to earn foreig...

Bangladesh reports record $10 billion foreign funds in FY22

-- 2022-07-28 11:59:56

Development partners and donor countries have released more than $10 billion in loans and aid to Bangladesh in 2021-22, a record for a financial year in the country’s history. Bangladesh brough...

Annual debt servicing crosses $2.01b

FHM HUMAYAN KABIR 2022-07-28 09:09:23

Bangladesh's debt servicing crossed US$2.01 billion in the last fiscal year as payment for some previously borrowed big loans began, officials say, amid reported strains on the country's foreign-excha...

Kamal denied need for IMF loan for 'strategic reason'

FE REPORT 2022-07-28 09:00:26

Finance Minister A H M Mustafa Kamal Wednesday admitted seeking loans from the International Monetary Fund (IMF), although last week he denied any intention to take loans immediately. "If I expose...

Policing forex mkt cools dollar price

SIDDIQUE ISLAM 2022-07-28 08:58:15

An eventual policing drive against suspected manipulators brought down the overheating cash-dollar price on the open market that hit Tk 112 Tuesday amid growing concerns about Bangladesh's foreign-e...

BPC, energy ministry dismiss reports on fuel shortages

-- 2022-07-27 23:32:33

The chief of Bangladesh Petroleum Corporation (BPC) has dismissed news reports indicating that the government initiated a rationing system at the consumer level due to a shortfall. BPC is a governmen...

IMF says it stands ready to support Bangladesh

-- 2022-07-27 22:42:18

The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri L...