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The Financial Express

Search results for: Economy

ADB forecasts 6.9pc GDP growth for FY 2021-22

ADB forecasts 6.9pc GDP growth for FY 2021-22

-- 2022-04-06 11:40:05

Bangladesh’s GDP is expected to grow 6.9 per cent in fiscal year 2021-22, according to the Asian Development Bank (ADB). The growth forecast reflects a rebound in external trade and recovery...

ECNEC approves 12 projects worth Tk 120.17 billion

ECNEC approves 12 projects worth Tk 120.17 billion

-- 2022-04-05 17:11:29

The Executive Committee of the National Economic Council (ECNEC) approved a total of 12 projects involving an estimated cost of Tk 120.17 billion during its meeting on Tuesday. ECNEC Chairperson and...

US stops Russian bond payments in bid to raise pressure on Moscow

US stops Russian bond payments in bid to raise pressure on Moscow

-- 2022-04-05 12:23:50

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at American banks, in a move meant to ratchet up pressure...

Bangladesh growth may shrink, inflation intensify

Bangladesh growth may shrink, inflation intensify

SIDDIQUE ISLAM 2022-04-05 08:28:19

Fallouts from the Russia-Ukraine war and global commodity-price spiral may stymie Bangladesh's economic growth and also fuel inflation by this fiscal yearend, the central bank forewarns. The Banglade...

Bangladesh’s forex reserves cross $44b again

Bangladesh’s forex reserves cross $44b again

-- 2022-04-04 17:53:11

Bangladesh's forex reserves rose to $44.30 billion again after slacking in the previous month, thanks to growing inward remittance. The forex reserve fell to $43.89 billion on March 6 2022 after payi...

Remittance inflow soars 24.50pc

Remittance inflow soars 24.50pc

FE REPORT 2022-04-04 08:39:47

The country's inward remittance flow increased by nearly 24.50 per cent in March after a significant fall in February. Expatriate Bangladeshis sent home about US$ 1.86 billion in March 2022, compared...

$500m World Bank loan for power supply modernisation

$500m World Bank loan for power supply modernisation

FHM HUMAYAN KABIR 2022-04-03 10:40:08

The World Bank is set to provide half a billion US dollars in loan to modernise the rural electricity distribution system in Dhaka and Mymensingh regions, officials said on Saturday. After approval o...

Policy support, incentives crucial for emerging industries

Policy support, incentives crucial for emerging industries

FE ONLINE REPORT 2022-04-01 18:23:30

Bangladesh’s initial economic growth came through utilising the country’s essential assets, namely its human capital and strategic use — whether by design or not — of specific...

Egypt permits e-visa to attract more visitors 

Egypt permits e-visa to attract more visitors 

-- 2022-04-01 17:56:27

Egypt has added 78 countries to its e-visa portal for tourists, expanding the list to cover more than 180 countries in a bid to attract more visitors, the Ministry of Tourism and Antiquities said...

Russian gas keeps flowing to Europe despite Putin's ultimatum to pay in roubles

Russian gas keeps flowing to Europe despite Putin's ultimatum to pay in roubles

-- 2022-04-01 15:07:25

Russian gas was still flowing to Europe on Friday despite a deadline set by President Vladimir Putin to cut it off unless customers start paying in roubles, Moscow's strongest threat to retaliate for...

World Bank approves $250m to help Bangladesh address Covid shocks

World Bank approves $250m to help Bangladesh address Covid shocks

FE ONLINE REPORT 2022-04-01 12:31:56

The World Bank approved a $250 million financing to help Bangladesh strengthen policies to sustain growth following the Covid-19 pandemic and enhance resilience to future shocks.  The credit is...

US keen to work with Bangladesh to achieve shared goals, says envoy

US keen to work with Bangladesh to achieve shared goals, says envoy

-- 2022-03-31 21:18:21

Lauding Bangladesh’s role in fostering peace and prosperity in the Indo-Pacific region, newly appointed US Ambassador in Dhaka Peter Haas on Thursday said the United States wants to partner with...

Atiur stresses enhancing Bangladesh’s connectivity with South Asian countries

Atiur stresses enhancing Bangladesh’s connectivity with South Asian countries

FE ONLINE REPORT 2022-03-31 18:37:26

Dr Atiur Rahman, former governor of the Bangladesh Bank (BB), has called for strengthening Bangladesh’s connectivity with other South Asian countries, aimed at boosting regional trade and networ...

ADB approves $143m loan support to Bangladesh for cross-border trade

ADB approves $143m loan support to Bangladesh for cross-border trade

-- 2022-03-31 17:59:31

The Asian Development Bank (ADB) has approved a $143 million loan package to support the government of Bangladesh's efforts to accelerate growth by improving the efficiency, predictability, and securi...

Fiscal interoperability to boost economy: Experts

Fiscal interoperability to boost economy: Experts

FE REPORT 2022-03-31 08:52:31

Dr Atiur Rahman, former governor of the Bangladesh Bank (BB), on Wednesday said domestic and cross-border financial interoperability would help to give much-needed impetus to the economy by easing fin...

Purchasing power parity critical for per capita estimate: BIDS meet

Purchasing power parity critical for per capita estimate: BIDS meet

FE REPORT 2022-03-31 08:49:05

Bangladesh should calculate its per-capita gross domestic product (GDP) in PPP or purchasing-power-parity method for a better comparison with other economies, as the current income ratings raise skept...

Universal pension scheme now at study level, finance minister says

Universal pension scheme now at study level, finance minister says

-- 2022-03-30 20:31:45

Finance Minister AHM Mustafa Kamal has said that the government will consult with stakeholders about the modalities of the proposed pension scheme for all citizens of the country, including expatriate...

Experts stress on exploring business opportunities in Bangladesh, Malaysia

Experts stress on exploring business opportunities in Bangladesh, Malaysia

-- 2022-03-30 19:22:18

Experts at a webinar have urged the business communities of Bangladesh and Malaysia to explore business opportunities and enhance trade and investment relations between the two countries. They made t...

Govt seeks larger Saudi investment

Govt seeks larger Saudi investment

-- 2022-03-30 18:22:42

The government sought larger Saudi investment in Bangladesh, particularly in the special economic zones and offered land there to Saudi investors. Prime Minister Sheikh Hasina on Wednesday sought...

Sri Lanka offers Bangladesh greater use of Colombo port

Sri Lanka offers Bangladesh greater use of Colombo port

-- 2022-03-30 17:51:06

President of Sri Lanka Gotabaya Rajapaksa has offered greater use of Colombo port by Bangladesh for transportation of Bangladeshi goods. Foreign Minister Dr. A K Abdul Momen paid a courtesy call on...

Sri Lanka suffers long power cuts as fuel crisis worsens

Sri Lanka suffers long power cuts as fuel crisis worsens

-- 2022-03-30 17:20:41

Swathes of Sri Lanka faced prolonged power cuts on Wednesday as a deepening economic crisis roiled markets and buffeted businesses, with the government unable to pay for fuel shipments because of a fo...

Fuel prices likely to rise further, says Momen

Fuel prices likely to rise further, says Momen

-- 2022-03-30 16:55:35

Foreign Minister AK Abdul Momen has warned that global energy prices will increase further if Russia's military offensive in Ukraine continues and this, in turn, could drive up the cost of transport...

Japan confirms $158m loan for MRT-6

Japan confirms $158m loan for MRT-6

FE REPORT 2022-03-30 08:53:57

Japan on Tuesday confirmed US$158 million worth of loan for the Mass Rapid Transit Line-6 (MRT-6) extension work from Motijheel to Kamlapur. In this regard, the Japan International Cooperation Agen...

Poorest people lose 97.17pc of income to calamities: BBS

Poorest people lose 97.17pc of income to calamities: BBS

FE REPORT 2022-03-30 08:35:00

Some 97.17 per cent of total income of the poorest people in the disaster-prone areas in Bangladesh is lost for damages - caused by the natural calamities, official data showed. The loss is 10 time...

Russia retaliates in ‘economic war’ with Eurobond rouble buyback offer

Russia retaliates in ‘economic war’ with Eurobond rouble buyback offer

-- 2022-03-29 22:11:27

Russia retaliated in what it has called an "economic war" with the West on Tuesday by offering to buy back its $2 billion Eurobonds maturing next month in roubles rather than dollars. The offer on Eu...

India stands by trade with Russia as Lavrov set to visit

India stands by trade with Russia as Lavrov set to visit

-- 2022-03-29 19:25:46

Russian Foreign Minister Sergei Lavrov is set to fly to India this week, sources said, finding time to visit to one of the biggest buyers of Russian commodities since the international community began...

Bangladesh, Sri Lanka for early conclusion of PTA to boost trade

Bangladesh, Sri Lanka for early conclusion of PTA to boost trade

-- 2022-03-29 18:59:26

Bangladesh and Sri Lanka have laid emphasis on the early conclusion of the Preferential Trade Agreement (PTA) with the hope that it will “widen” the bilateral trade significantly between t...

Bangladesh, Nepal eye broader cooperation in key areas

Bangladesh, Nepal eye broader cooperation in key areas

-- 2022-03-29 17:19:03

Bangladesh and Nepal have underlined the necessity of intensifying the bilateral relations including the exchange of high-level visits as the two countries are celebrating the 50th anniversary of dipl...

World Bank approves $358m to help Bangladesh improve road safety 

World Bank approves $358m to help Bangladesh improve road safety 

FE ONLINE REPORT 2022-03-29 11:13:23

The World Bank on Tuesday approved $358 million of financing to help Bangladesh improve road safety and reduce fatalities and injuries from road traffic crashes on selected high-risk highways and dist...

Excess liquidity risks fuelling inflation

Excess liquidity risks fuelling inflation

SIDDIQUE ISLAM 2022-03-29 08:38:56

Excess liquidity in the country's banking system is likely to fuel inflationary pressure on the economy, the central bank cautions over money-supply upturn. "Excess liquidity stemming from the stimul...