Search results for: Economy

Bangladesh Taka slides amid high demand for US dollar

SIDDIQUE ISLAM 2021-11-11 08:14:45

Bangladesh Taka (BDT) has depreciated by Tk 1.0 against the US dollar (USD) in nearly three months despite selling of the greenback by the central bank to the banks for keeping the market stable. The...

Old clients get most of stimulus loans: BIBM survey

FE REPORT 2021-11-10 08:28:03

The findings of a latest survey on the stimulus package show that the country's commercial banks preferred to provide loans to their existing customers from the package, announced in April 2020, inste...

ILO predicts 5.0m job losses in Bangladesh due to pandemic

MONIRA MUNNI 2021-11-09 08:46:05

The International Labour Organisation (ILO) has projected 7.4 per cent less working hours or the loss of 5.0-million full-time jobs for Bangladesh in 2021 than the 2019 pre-crisis baseline. The Covid...

Bangladesh's trade deficit widens over threefold

SIDDIQUE ISLAM 2021-11-09 08:42:22

Bangladesh's trade deficit widened over threefold in the first quarter (Q1) of the current fiscal year for higher import-payment pressure, officials said, casting its cascading impacts on the economy....

Korean Kido group to invest $31.17m in Adamjee EPZ

-- 2021-11-08 17:48:58

South Korean company Kido Dhaka Limited will invest USD 31.17 million to establish a garment and manufacturing industry at Adamjee Export Processing Zone (EPZ). Bangladesh Export Processing Zone Auth...

Bad loans are bane for banking sector

-- 2021-11-08 17:19:02

In any country, a safe and sound banking system is the sine qua non of a strong economy. By channelising funds from savers to borrowers, banks help keep the wheels of the economy moving, in the way b...

Lack of docs, database make difficult for woman entrepreneurs to access finance

FE REPORT 2021-11-08 10:39:01

Women-led enterprises in the country have long been facing difficulty in accessing finance of formal channels -- mainly for lack of information, improper documentation, complexity in availing trade...

RMG exports to US grow 26.37pc in Jan-Sept period

MONIRA MUNNI 2021-11-07 08:50:52

The country's apparel exports to the United States, in terms of both volume and value, continued to rise and maintained a double digit growth during the first nine months of this calendar year. Ban...

$5.0b IFC investment portfolio likely for Bangladesh

FHM HUMAYAN KABIR 2021-11-07 08:47:39

The International Finance Corporation (IFC) plans to fortify its footprint in Bangladesh through extending its investment portfolio to nearly $5.0 billion in the next five years. “We want to ex...

Indonesia’s GDP growth slows down to 3.51pc in Q3

-- 2021-11-05 18:12:46

Indonesia's economic growth in the third quarter of this year slowed down to 3.51 per cent year-on-year (yoy), as the country tightened its public mobility restrictions, locally known as PPKM, amid th...

Bangladesh's forex reserves strained due to dollar-price appreciation, costlier imports

SIDDIQUE ISLAM 2021-11-05 08:58:52

Bangladesh's foreign-exchange reserves are under pressure from different dimensions, principally for unabated dollar-price appreciation and costlier imports, sources say. Officials attribute the imba...

US jobless claims drop to 269,000

-- 2021-11-04 21:26:05

The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year’s coronavirus recession. Jobless clai...

Per capita income in Bangladesh crosses $2,500

-- 2021-11-04 15:22:09

Bangladesh’s per capita income rose by $327 in fiscal 2020-21 to $2,554, according to data from the statistical agency. In terms of the Bangladesh currency, the per capita income is now Tk 219,...

Deposit interest rates rise as spread squeezes

SIDDIQUE ISLAM 2021-11-04 09:17:29

Depositors are to gain as the interest-rate spread narrowed slightly as banks increased deposit rates after nearly two years by keeping lending rates unchanged, bankers say. Adjustments are taking pl...

AIIB to provide $250m loan for Bangladesh's economic recovery

-- 2021-11-03 17:58:30

The Asian Infrastructure Investment Bank (AIIB) will provide a 250 million US dollar loan to implement a government programme for the country’s sustainable economic recovery from Covid-19 fallou...

Bangladesh's exports register record 60.37pc growth in Oct’21

MONIRA MUNNI 2021-11-03 08:46:25

Bangladesh booked the highest-ever single-month export growth of 60.37 per cent, year on year, in October with overall US$4.72-billion income as apparel shipments rebounded from pandemic recession. S...

Dhaka likely to ink PTA deal with Colombo by March next year

SYFUL ISLAM 2021-11-03 08:32:45

Dhaka wants to conclude preferential trade agreement (PTA) with Colombo on March 4th next, now that Bangladesh begins to arm itself with trading tools for its graduation into competitive-market regime...

October exports surge to $4.73b

-- 2021-11-02 18:49:32

Bangladesh has broken the monthly exports record with $4.73 billion of goods shipped in October as the global economy shows signs of recovery from the effects of the coronavirus pandemic. October&rsq...

LDCs cut ‘high expectation’ in MC12 on post-graduation

FE ONLINE REPORT 2021-11-02 16:38:19

The Least Developed Countries (LDCs) have cut their ‘high expectation’ in the upcoming ministerial conference of the World Trade Organization (WTO) regarding the continuation of trade pref...

China tells families to keep stocks of daily necessities ahead of winter

-- 2021-11-02 14:03:33

The Chinese government has told families to keep daily necessities in stock in case of emergencies, after Covid-19 outbreaks and unusually heavy rains that caused a surge in vegetable prices raised co...

Remittance inflow into Bangladesh drops to $1.65b in Oct

FE REPORT 2021-11-02 08:37:53

The flow of inward remittances dropped further in October after money transfers through informal channels such as hundi resurfaced after a lull caused by the coronavirus pandemic. The money sent home...

Thailand reopens to vaccinated tourists to boost economy

-- 2021-11-01 19:30:14

Thailand has reopened to vaccinated visitors from more than 60 countries and regions amid efforts to revive its pandemic-battered economy. From Monday, fully-vaccinated travellers flying from 63 coun...

Trade and investment summit ends with $1.16b investment potential

FE ONLINE REPORT 2021-11-01 19:03:07

Seven-day Bangladesh Trade and Investment Summit 2021 has brought a promise of $1.16 billion investment from foreign companies for Bangladesh. "We received a promise from the foreign participants in...

‘Bond market can address Bangladesh’s banking sector shortcomings in long-term financing’

FE ONLINE REPORT 2021-10-31 20:08:20

Bangladesh can no longer bank only on budgetary money or banking capital for financing long-term projects, especially the ones of development of infrastructure, an investment conference concluded on S...

NBR to take opinion on draft Income Tax Act till November 25

-- 2021-10-31 20:08:14

The National Board of Revenue (NBR) has published the draft of the Income Tax Act by simplifying and bringing some changes to the Income Tax Ordinance.  "After taking opinions from the concerned...

ADB to provide another $150m for Bangladesh's CMSMEs

FHM HUAMAYN KABIR 2021-10-31 08:53:00

Another overseas support for the cottage, micro, small and medium enterprises (CMSMEs) is coming from the Asian Development Bank to facilitate the post-Covid recovery of the ailing industries. The Ma...

Bangladesh’s African market potential untapped, investors urged to grab opportunities

FE ONLINE REPORT 2021-10-30 19:15:18

Dhaka can offset potential losses of trade facilities in Europe and America after LDC graduation if Bangladeshi businesses explore ‘golden opportunities in an untapped African market’, obs...

Dhaka seeks $6.0b from World Bank in development aid

FHM HUMAYAN KABIR 2021-10-30 08:58:10

Bangladesh has sought US$6.0 billion worth of foreign assistance from the World Bank in the upcoming three-year aid package for developing its infrastructures, officials said. Based on the pipeline p...

G20 wants to vaccinate 40pc people in all countries by 2021

-- 2021-10-29 22:58:25

Finance and health ministers from the world's 20 biggest economies (G20) said on Friday they would take steps to ensure 70 per cent of the world's population is vaccinated against COVID-19 by mid-2022...

Local exporters should explore potential Middle East market: Speakers

FE REPORT 2021-10-29 14:18:25

Considering enormous export potentials, speakers at a webinar on Thursday suggested local exporters to explore markets in the Middle East (ME) with skilled workforce, diversified RMG products, halal f...