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The Financial Express

Search results for: Economy

Russia accuses United States of declaring economic war

Russia accuses United States of declaring economic war

-- 2022-03-09 18:38:07

The Kremlin accused the United States on Wednesday of declaring an economic war on Russia that was sowing mayhem through energy markets. Kremlin spokesman Dmitry Peskov cast the West's sanctions as a...

Ukraine crisis could stall India's economic recovery

Ukraine crisis could stall India's economic recovery

-- 2022-03-08 18:44:50

India is likely to rank among the emerging economies worst affected by the Russia-Ukraine crisis as a surge in global prices of commodities is set to upend spending plans and derail its pandemic recov...

Women employment in banks, NBFIs falls

Women employment in banks, NBFIs falls

-- 2022-03-08 17:57:03

Though the employment of women has marked a rise in different sectors in recent years, the average ratio of women employees in banks and non-bank financial institutions (NBFIs) saw a decline by 2.87 p...

BGMEA wants removal of trade barriers in Indonesia

BGMEA wants removal of trade barriers in Indonesia

FE ONLINE REPORT 2022-03-07 18:21:49

Bangladesh and Indonesia have the scope to derive mutual benefits by identifying and removing trade-related obstacles. BGMEA President Faruque Hassan said close bilateral cooperation between Bangla...

Russia lifts ban on Bangladesh potato import

Russia lifts ban on Bangladesh potato import

FE ONLINE REPORT 2022-03-07 17:54:47

Bangladesh can export potatoes to Russia as the European country has lifted its ban recently, Russian Embassy in Dhaka said on Monday. “The  Federal   Service for   Vet...

Widening tax net is a must for easing the tax burden, says NBR chairman

Widening tax net is a must for easing the tax burden, says NBR chairman

-- 2022-03-06 18:13:01

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem has said that widening the tax net is a must for easing the tax burden. He also said that ensuring compliance of the corporation...

Bangladesh, UAE likely to sign at least four MoUs

Bangladesh, UAE likely to sign at least four MoUs

-- 2022-03-06 17:47:00

Bangladesh and the United Arab Emirates (UAE) are likely to sign four to five MoUs during Prime Minister Sheikh Hasina's upcoming visit to the Gulf nation to further strengthen the bilateral relations...

BGMEA stresses Bangladesh-India cooperation in apparel, textile industries

BGMEA stresses Bangladesh-India cooperation in apparel, textile industries

-- 2022-03-06 17:35:22

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has said Bangladesh and India have enormous scope to complement each other for the development of apparel an...

Taka marks golden jubilee of its inception

Taka marks golden jubilee of its inception

-- 2022-03-04 16:14:27

A country's national currency is widely considered a symbol of its sovereignty. For Bangladesh, it is the Taka and Friday marks the golden jubilee of its inception. On Mar 4, 1972, the first 1 Taka n...

BEZA to introduce business continuity plan in economic zones

BEZA to introduce business continuity plan in economic zones

FE ONLINE REPORT 2022-03-03 18:29:21

Bangladesh Economic Zones Authority (BEZA) is set to introduce a business continuity plan in its economic zones. As part of this initiative, an inception workshop on business continuity plan was he...

Development budget downsized with cuts in foreign funds

Development budget downsized with cuts in foreign funds

FE REPORT 2022-03-03 08:43:44

The government downsized the annual development budget to Tk 2.07 trillion with cuts in foreign assistance by Tk 175 billion, as foreign-aided projects lost gear into lax execution. On Wednesday, the...

Non-performing loans surge to Tk 145b belying policy backup

Non-performing loans surge to Tk 145b belying policy backup

SIDDIQUE ISLAM 2022-03-03 08:37:08

In the shadows of recent financial problems the classified-loan buildups in Bangladesh's banking system leapt over 16 per cent or Tk 145.40 billion in the last calendar year. Such slide takes place d...

Inflation in Bangladesh expected to exceed 6.0pc by June

Inflation in Bangladesh expected to exceed 6.0pc by June

FE ONLINE REPORT 2022-03-02 20:01:18

The annual average rate of inflation is likely to cross 6.0 per cent level by the end of the current fiscal year (FY22), according to the central bank’s inflation expectation survey. Around 77...

UAE finds Bangladesh food processing industry promising for investment

UAE finds Bangladesh food processing industry promising for investment

-- 2022-03-02 17:34:49

UAE Ambassador in Bangladesh Abdulla Ali AlHmoudi on Wednesday said the food processing industry in Bangladesh looks promising for possible investment by his country’s businesspeople. ...

ADP downsized to Tk 2.076 trillion

ADP downsized to Tk 2.076 trillion

-- 2022-03-02 17:31:32

The National Economic Council (NEC) has approved a Tk 2.076 trillion revised Annual Development Programme (RADP) for the current fiscal year (FY22), prioritising the transport and communication sector...

Oil price exceeds $111 a barrel with Russian supply concerns amid sanctions

Oil price exceeds $111 a barrel with Russian supply concerns amid sanctions

-- 2022-03-02 15:11:58

Oil prices surged on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sou...

Remittance drops 12pc in February

Remittance drops 12pc in February

SIDDIQUE ISLAM 2022-03-02 10:38:19

Bangladesh saw remittance inflow drop nearly 12 per cent in February mainly as working days of the expatriates in different countries squeezed, officials say. Bangladeshi nationals working abroad sen...

Gap between lending, deposit rates reduced in January

Gap between lending, deposit rates reduced in January

FE REPORT 2022-03-02 08:51:30

Interest spread narrowed down in January as banks raised deposit rates while lending rates dropped slightly, bankers have said. The weighted average spread between lending and deposit rates, offered...

Financial sector reform key to foreign investment: BIDA workshop

Financial sector reform key to foreign investment: BIDA workshop

FE REPORT 2022-03-02 08:46:17

Comprehensive reforms in the financial sector are essential for drawing in more foreign investments in Bangladesh, said speakers at a workshop on Monday. Inflow of higher foreign direct investment (F...

Tk 2.75b loss to exchequer detected; fund manager summoned

Tk 2.75b loss to exchequer detected; fund manager summoned

FE REPORT 2022-03-02 08:29:44

The government has incurred a financial loss of Tk 2.755 billion for financing flaws in 19 projects under the equity and entrepreneurship fund (EEF) between fiscal years 2009-10 and 2014-15, a special...

Rouble heads back towards record lows, living standards exposed

Rouble heads back towards record lows, living standards exposed

-- 2022-03-01 19:07:04

The rouble gave up earlier attempts at recovery to head back towards record lows on Tuesday, threatening the living standards of ordinary Russians as the country was hit with a raft of harsh Western s...

Bangladesh considering alternative to SWIFT for trade with Russia

Bangladesh considering alternative to SWIFT for trade with Russia

-- 2022-03-01 18:18:49

The Finance Ministry is considering approving a proposal of Bangladesh Bank (BB) using the 'currency swap' system with Russia to avert any financial hiccup Bangladesh may face if Russian banks are kic...

Bangladesh has to launch second phase of trade policy reform

Bangladesh has to launch second phase of trade policy reform

ZAIDI SATTAR 2022-03-01 13:22:18

Over the past 50 years, Bangladesh has proved to the world that it can be a highly competitive trading nation. Trade, not aid, is now our motto. Bangladesh’s progress in the trade sphere confir...

Tk 2.07t revised development budget set to be approved

Tk 2.07t revised development budget set to be approved

FHM HUMAYAN KABIR 2022-03-01 08:49:29

The government is likely to approve a Tk 2.07-trillion revised annual development programme (RADP) for the current fiscal year (FY) tomorrow (Wednesday), trimming down 7.89 per cent fund from the orig...

Private credits grow as trade demand rises, BB stats suggest

Private credits grow as trade demand rises, BB stats suggest

SIDDIQUE ISLAM 2022-03-01 08:33:28

Credit flow into Bangladesh's private sector increases further as demand for loans, particularly for trade financing, grows for settling import payments. The reopening of the country's overall busine...

Industrial belt emerging in the Bay centering Matarbari

Industrial belt emerging in the Bay centering Matarbari

FE ONLINE REPORT 2022-02-28 20:06:53

Japan has been developing Bangladesh's first deep-sea port in Matarbari, south of Chittagong which constitutes the "Bay of Bengal Industrial Growth Belt”, said ITO Naoki, Ambassador of Japan to...

Russia doubles key interest rate to 20pc after rouble slumps

Russia doubles key interest rate to 20pc after rouble slumps

-- 2022-02-28 17:54:40

The Russian central bank raised its key interest rate to 20 per cent from 9.5 per cent on Monday in an emergency move, and authorities told export-focused companies to be ready to sell foreign currenc...

Megaprojects to see big cuts in allocations for failure to utilise money

Megaprojects to see big cuts in allocations for failure to utilise money

FHM HUMAYAN KABIR 2022-02-28 08:57:50

Most of the fast-track projects have proposed the authorities concerned to cut their respective allocations substantially in the development budget for the current fiscal year (FY) due to lagging behi...

Sanctions on selected banks won’t affect Russia, banking experts say

Sanctions on selected banks won’t affect Russia, banking experts say

-- 2022-02-27 19:29:06

A decision by Western allies on Saturday to block "selected" Russian banks from the SWIFT payments system will inflict a crippling economic blow but also cause much pain to their own companies and ban...

Industries ministry implements record 63pc of ADP in first seven months of FY23

Industries ministry implements record 63pc of ADP in first seven months of FY23

-- 2022-02-27 18:32:53

With 63 per cent of execution record, the Ministry of Industries has surpassed the national rate in implementing the Annual Development Programme (ADP). From July to January of the fiscal year 2022-2...