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The Financial Express

Search results for: Economy

World Bank okays $295m to boost Bangladesh’s digital economy

World Bank okays $295m to boost Bangladesh’s digital economy

-- 2022-01-09 20:06:57

The International Development Association (IDA), a concern of the World Bank, will extend USD $295 million Scale Up Facility (SUF) loan to Bangladesh for enhancing digital government & economy (ED...

Per capita income to cross $3,000 this year, minister hopes

Per capita income to cross $3,000 this year, minister hopes

-- 2022-01-09 17:01:19

Local Government and Rural Development (LGRD) Minister Md Tajul Islam has expressed hope that the country’s average per capita income would exceed USD 3,000 by this year. The minister said, &ld...

Goods trade with the world crosses $110b in 2021

Goods trade with the world crosses $110b in 2021

FE ONLINE REPORT 2022-01-09 15:42:13

The country’s bilateral trade in goods with the rest of the world crossed US$110 billion in the last calendar year, showed the FE estimation based on statistics of exports receipts and imports p...

Virtual desk at Bangladesh mission to attract FDI in ICT sector

Virtual desk at Bangladesh mission to attract FDI in ICT sector

FE REPORT 2022-01-09 10:13:12

A virtual desk at the Bangladesh Embassy in the Netherlands was launched on Saturday to connect investors and partners, explore business and help attract foreign direct investment (FDI) in Bangladesh'...

Dhaka starts talks for WB budget support

Dhaka starts talks for WB budget support

SYFUL ISLAM 2022-01-08 09:17:13

Bangladesh has begun talks with the World Bank for budget support towards fighting climate impacts and forwarding various green-growth initiatives in a development-paradigm change, sources say. Last...

Inflation rate crosses 6pc in December

Inflation rate crosses 6pc in December

-- 2022-01-07 18:41:34

The general rate of inflation surpassed 6 per cent in December, the highest level in 2021, propelled by the spiralling prices of food and consumer goods in the country. The point-to-point inflation r...

Policy support for foreign trade extended until June 30

Policy support for foreign trade extended until June 30

-- 2022-01-06 18:42:13

Bangladesh Bank (BB) has extended policy support to June 30 next from December 31, 2021, for external trade transactions considering the pandemic effect on economic activities. A central bank circula...

Bangladesh's forex reserve falls to $44.33b

Bangladesh's forex reserve falls to $44.33b

SIDDIQUE ISLAM 2022-01-06 09:03:55

Swelling import expenses, coupled with routine payment to the Asian Clearing Union (ACU), have put the country's foreign-exchange (forex) reserves under pressure again, officials said. The reserve...

203 Bangladeshi workers reach Korea since December

203 Bangladeshi workers reach Korea since December

FE ONLINE REPORT 2022-01-05 19:06:04

A total of 203 Bangladesh expatriate workers have traveled to Korea since the lifting of suspension on the arrival of foreign workers in December. On Wednesday, 92 Bangladesh workers left for Korea f...

Central bank launches Tk 5.0b scheme for returnee expats

Central bank launches Tk 5.0b scheme for returnee expats

-- 2022-01-03 19:39:40

Bangladesh Bank (BB) has created a Tk 5.0 billion refinance scheme to generate employment and to eliminate poverty for the expatriates who have returned home due to Covid 19 pandemic and other reasons...

Bangladesh seeks GSP support from Germany to face post-LDC challenges

Bangladesh seeks GSP support from Germany to face post-LDC challenges

-- 2022-01-03 18:37:58

Commerce Minister Tipu Munshi has sought GSP support from Germany for Bangladesh to face the post-LDC challenges after its final graduation as a developing nation. He also urged the European country...

Bangladesh's trade gap doubles to $12.53b in July-November period

Bangladesh's trade gap doubles to $12.53b in July-November period

SIDDIQUE ISLAM 2022-01-03 08:38:06

Bangladesh saw its trade deficit more than double in the first five months of the current fiscal year as higher import-payment pressure on the economy causes account imbalance, officials say. The def...

Remittance flow dips after unusual pickup in 2020

Remittance flow dips after unusual pickup in 2020

FE REPORT 2022-01-03 08:19:51

Remittance from migrant Bangladeshi workers dipped over 12 per cent in the past calendar year from an unusual pandemic-time pickup in 2020, for reasons that include their higher expenditure. The lure...

Bangladesh receives $22.07b in remittance last year

Bangladesh receives $22.07b in remittance last year

-- 2022-01-02 21:14:42

Bangladesh sent 6,17,209 workers overseas and received a record $22,070.87 million ($22.07 billion) in remittance in 2021 amid the Covid-19 pandemic. Describing the trend of overseas employment as sa...

December exports hit historic high at $4.9 billion

December exports hit historic high at $4.9 billion

-- 2022-01-02 21:06:03

Bangladesh has broken the monthly exports record once again, shipping goods worth over $4.9 billion in December as the country’s economic recovery continued to gather pace after a pandemic-induc...

Banks deduct excise duty from customers’ account in December

Banks deduct excise duty from customers’ account in December

-- 2022-01-02 18:22:52

As per the government’s directive, banks have deducted excise duty from customers’ accounts whose minimum balance reached Tk 0.10 million within 2021. If the balance of customers’ b...

No country can compete with Bangladesh, says Minister Kamal

No country can compete with Bangladesh, says Minister Kamal

FE REPORT 2022-01-02 08:21:38

Finance Minister AHM Mustafa Kamal says there is no country in the world that can compete with Bangladesh. "None can compete with us. Our capacity, skills, productivity have been enhanced a lot," h...

Allocation for agriculture likely to increase to reshape rural economy

Allocation for agriculture likely to increase to reshape rural economy

-- 2022-01-01 17:57:14

The allocation for the agriculture sector in the upcoming budget is likely to see a significant rise as the government has taken various initiatives for this vital sector to ensure food security, boos...

Remitters further incentivised

Remitters further incentivised

FE ONLINE REPORT 2022-01-01 13:20:42

Amid the dwindling remittance inflow situation the government has enhanced the rate of incentives for remittance senders to 2.5 per cent from 2.0 per cent. The new rate is effective from Saturday, a...

Challenges lie ahead for Bangladesh: BCI president

Challenges lie ahead for Bangladesh: BCI president

FE REPORT 2022-01-01 09:50:52

Anwar-ul-Alam Chowdhury (Pervez), president at the Bangladesh Chamber of Industries (BCI) said that there are many challenges looming in the industrial sector in 2022 as the cost of doing business is...

Time for Bangladesh to thrive in 2022: DCCI president

Time for Bangladesh to thrive in 2022: DCCI president

FE REPORT 2022-01-01 09:00:48

Raising hopes for the economy in 2022, Dhaka Chamber of Commerce and Industries (DCCI) president Rizwan Rahman says Bangladesh survived in 2020, revived in 2021 and now is the time to thrive. "The re...

Hope and despair herald 2022

Hope and despair herald 2022

FHM HUMAYAN KABIR 2022-01-01 00:33:18

Bangladesh joins humanity to welcome 2022 with mixed feelings of hope and despair as lingering shadows of coronavirus impact long-term rosy macroeconomic and socioeconomic indicators despite a rebound...

Development thinkers for transforming Bangladesh into ‘productivity, skill-based' nation

Development thinkers for transforming Bangladesh into ‘productivity, skill-based' nation

FE REPORT 2021-12-31 09:12:33

Speakers at a discussion on Thursday suggested Bangladesh's transforming into a 'skill- and productivity-based' economy instead of the current 'market access-based' one for competing in the global are...

Overseas employment of Bangladeshis grows 1.5 times in 2021

Overseas employment of Bangladeshis grows 1.5 times in 2021

FE REPORT 2021-12-31 09:04:51

Bangladesh's overseas employment is expected to increase 1.5 times in the outgoing calendar year (2021), said a RMMRU report on Thursday. It forecasts that the remittance income would climb by an e...

Central bank relaxes loan-repayment policy for all sectors

Central bank relaxes loan-repayment policy for all sectors

SIDDIQUE ISLAM 2021-12-31 08:31:07

The central bank relaxes further the loan-repayment policy for all the sectors to expedite Bangladesh's economic recovery from the fallout of Covid-19 pandemic. Under the relaxed stance, the borrow...

Bilateral trade volume between Bangladesh, South Korea to reach record high in 2021

Bilateral trade volume between Bangladesh, South Korea to reach record high in 2021

FE ONLINE REPORT 2021-12-30 19:49:11

Bilateral trade volume between Bangladesh and South Korea is expected to reach a record high this year, revealed statistics provided by the Korea Trade Association.  Between January and November...

Countries try to balance Omicron restrictions while keeping economies open

Countries try to balance Omicron restrictions while keeping economies open

-- 2021-12-30 11:08:08

Global Covid-19 infections hit a record high over the past seven-day period, Reuters data showed on Wednesday, as the Omicron variant raced out of control and governments tried to contain its spread w...

Bangladesh's GDP blowup dwarfs tax ratio

Bangladesh's GDP blowup dwarfs tax ratio

JASIM UDDIN HAROON 2021-12-30 08:37:36

A GDP blowup with many leftover economic activities now taken into basket downsizes the ratio of Bangladesh's tax receipts to the gross domestic product, making it region's lowest and hence warranting...

Non-performing loans out of control now, says the prime minister’s adviser

Non-performing loans out of control now, says the prime minister’s adviser

FE REPORT 2021-12-30 08:22:46

Prime Minister's Economic Affairs Adviser Dr Mashiur Rahman has stressed reining in default loans which he felt have gone out of control at present. He has suggested strengthening the capacity of t...

Development budget implementation snails far behind set goals

Development budget implementation snails far behind set goals

-- 2021-12-29 09:17:41

Government agencies couldn't speed up development-budget implementation to anywhere near pre-covid levels, officials said Tuesday, and two of them moved at the slowest pace. They said the Shipping Mi...