Search results for: Economy

ECNEC approves second revision of MRT-6 project

-- 2022-07-19 17:55:35

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved the second revision of the much-hyped Dhaka Mass Rapid Transit Development (Line-6) project with an additional cost...

Indian rupee falls past 80 against dollar to hit record low

-- 2022-07-19 17:29:28

The Indian rupee hit a seventh straight session of record lows on Tuesday as weakness in domestic shares and currencies weighed, but dollar selling intervention by the central bank helped limit furthe...

Loan rescheduling time redoubled, costs slashed

Siddique Islam 2022-07-19 08:42:19

It comes as a bounteous bail-in for big borrowers as the central bank liberally relaxes loan- rescheduling liabilities trying to facilitate overall business activities in Bangladesh amid global crunch...

Emphasis on inclusive insurance, risk finance for all

-- 2022-07-18 21:32:56

Speakers at a workshop on Monday called upon the government, development partners and private sector for enabling an environment for inclusive insurance and risk financing for the country's sustainabl...

Bangladesh, Indonesia for early conclusion of PTA for strengthening economic cooperation

-- 2022-07-18 17:37:38

Bangladesh and Indonesia have stressed concluding the bilateral preferential trade agreement (PTA) to further strengthen the economic cooperation between the two countries. Bangladesh and Indonesia h...

IMF airs concern over rising bad loans in banks

-- 2022-07-18 17:22:55

A visiting delegation of the International Monetary Fund (IMF) has expressed concern over the weakness of Bangladesh's banking system and the high rate of non-performing loans (NPL), according to a se...

Sri Lanka crisis is a warning to other Asian nations: BBC

BBC 2022-07-18 17:21:30

Sri Lanka is in the midst of a deep and unprecedented economic crisis that has sparked huge protests and seen its president quit after fleeing the country - but other countries could be at risk of sim...

Australia, New Zealand dollars get a lift from sky-high inflation

-- 2022-07-18 16:41:08

The New Zealand dollar got a rare rally on Monday after an alarmingly high reading on inflation stoked speculation of more aggressive rate hikes, pushing up bond yields and its Australian cousin. The...

BB lifts interest rate ceiling on NFCDs

FE REPORT 2022-07-18 08:51:42

The Bangladesh Bank (BB) on Sunday withdrew the interest rate ceiling on non-resident foreign currency deposits (NFCDs) to raise the inflow of foreign currency into the country and ease the ongoing pr...

IMF team meets MoC secy

FE REPORT 2022-07-18 08:45:25

A delegation of the International Monetary Fund (IMF) met Senior Secretary of Ministry of Commerce (MoC) Tapan Kanti Ghosh at his secretariat office in the capital on Sunday. The delegation met him t...

Bank borrowing triples in FY ’22

SIDDIQUE ISLAM 2022-07-18 08:38:32

Government bank borrowings nearly tripled in the past fiscal, partly being pushed by need for financing budget deficit, officials say, raising its debt liability. Its aggregate net bank borrowings ro...

Non-resident Bangladeshis can now open foreign currency deposit accounts

-- 2022-07-17 18:58:43

Bangladesh Bank has allowed authorised dealers (ADs) to open interest-bearing non-resident foreign currency deposit (NFCD) accounts in order to increase foreign currency flow. The non-resident Bangla...

China's monetary policy has ample room to meet challenges: State media

-- 2022-07-17 17:09:32

China's monetary policy has ample room and sufficient tools, including further cutting banks' reserve requirements, to cope with new challenges amid a shaky economic recovery, says Reuters citing a co...

Debt default: At least dozen countries are in danger zone

-- 2022-07-17 16:02:49

A record number of developing nations are now in trouble as they show traditional debt crisis signs of crashing currencies, 1,000 basis point bonds spread and burned FX reserves point. Lebanon, Sri L...

Pakistan to get $4b from friendly countries to shore up reserves

REUTERS 2022-07-17 13:14:10

Pakistan is likely to get $4 billion from friendly countries this month to bridge a gap in foreign reserves highlighted by the International Monetary Fund, the country's finance minister said, two d...

Unrealistic energy policies may lead to higher inflation, says Saudi crown prince

-- 2022-07-16 20:23:59

Saudi Arabia's Crown Prince Mohammed bin Salman said on Saturday more investment was needed in fossil fuel and clean energy technologies to meet global demand, and those unrealistic emission policies...

G20 finance chiefs reach ‘consensus’ on food security, remain divided on Ukraine war

-- 2022-07-16 17:35:31

The Group of 20 major economies' finance chiefs reached what one called a "strong consensus" on issues including global food security at a two-day meeting in Indonesia but remained divided over Russia...

World Bank approves $500m to help Bangladesh improve disaster preparedness

FE ONLINE REPORT 2022-07-16 13:32:36

The World Bank on Saturday approved a $500 million credit to help Bangladesh improve disaster preparedness against inland flooding in 14 flood-prone districts, benefiting over 1.25 million people.The...

Incentive waiver thru LDC graduation: Finance frames export strategy

REZAUL KARIM 2022-07-16 08:29:39

Lifting conditions regarding local value addition and gradual cut in HS Headings on apparel items are among measures envisaged as export booster after Bangladesh's LDC graduation that will banish cash...

Bangladesh loses $5-10b in leather export for environmental issues: Experts

-- 2022-07-15 17:37:23

Environmental issues are holding back the export of Bangladesh’s leather to Europe and the US and a potential earning of up to $10 billion a year, according to traders and exporters.  Indu...

China's economy brakes sharply in Q2, global risks darken outlook

-- 2022-07-15 17:32:00

China's economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a d...

China economy contracts amid zero-Covid policy

BBC 2022-07-15 12:02:40

China's economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6 per cent i...

ADB, Singapore agree to promote investment and innovation across Asia and the Pacific

FE ONLINE REPORT 2022-07-15 11:36:34

Asian Development Bank (ADB) and Singapore have signed an agreement to promote investment and innovation across Asia and the Pacific. ADB President Masatsugu Asakawa and Singapore Deputy Prime Minist...

BB set to enhance forex flow by $1.0b

SIDDIQUE ISLAM 2022-07-15 08:56:50

The central bank is set to enhance the foreign-exchange flow by nearly $1.0 billion as part of regulatory measures to manage the ongoing volatility in the market, officials say. Around $365 million w...

Bangladesh Bank announces new measures to ease strain on forex reserves

-- 2022-07-14 22:26:59

Bangladesh Bank has made several policy changes in a bid to ease the pressure on the country's foreign exchange reserves amid a global economic crisis.As part of the import monitoring framework, banks...

Philippines court dismisses RCBC defamation case against Bangladesh Bank

-- 2022-07-14 15:22:07

A Philippines court has dismissed a defamation case filed by Rizal Commercial Banking Corp (RCBC) against Bangladesh Bank for linking it to the biggest cyber heist in the world. The Philippines court...

Manpower export hits new high

ARAFAT ARA 2022-07-14 10:16:35

Bangladesh's manpower export hit a new high in the past fiscal on post-pandemic rebound of the overseas job market as nearly a million found employment abroad following good demand for Bangladeshi wor...

Gasoline, food drive US consumer prices higher in June

-- 2022-07-13 20:34:28

US consumer prices accelerated in June as gasoline and food costs remained elevated, resulting in the largest annual increase in inflation in more than 40 years and cementing the case for the Federal...

ECB faces costly choices due to euro's tumble to parity against dollar

-- 2022-07-13 19:26:41

The euro's tumble to parity against the dollar has pushed the European Central Bank back against a wall, leaving its policymakers with only painful and economically costly choices. Letting the curren...

South Korea takes aim at inflation with unprecedented half-point rate hike

-- 2022-07-13 14:27:19

South Korea's central bank raised its policy interest rate by an unprecedented half point on Wednesday, aiming to pull inflation from 24-year highs while balancing fear of a sharp economic downturn as...