Search results for: Economy

Interest rate of deposits will not be less than inflation, central bank says

-- 2021-08-08 20:39:14

The Bangladesh Bank has instructed all banks not to fix the interest rate of the deposits below the inflation rate. “Livelihood of depositors and a part of other depositors depends on the inter...

Release of GDP estimates restores rules of business, says Debapriya

FE Online Report 2021-08-08 18:07:54

As the Bangladesh Bureau of Statistics (BBS) finally released the estimate of Gross Domestic Product (GDP) and its components in the last week, a leading economist appreciated the move. “The ne...

Petrobangla owes NBR Tk 213b VAT arrears

DOULOT AKTER MALA 2021-08-08 08:42:48

The state-owned Petrobangla has suspended the submission of monthly VAT (value-added tax) returns since December 2020. The oil and gas company owes Tk 213.18-billion VAT arrears to the National Boa...

Import duty on rice to be reduced to 15pc

FE REPORT 2021-08-08 08:28:29

The government has decided to cut the total import duty on rice in a bid to rein in prices of the staple in the local market. Following the instruction of the Prime Minister, the National Board of...

‘COVID-19 takes away 2.26m jobs, increases poverty by 9.0pc’

FE ONLINE REPORT 2021-08-07 21:50:44

Bangladesh’s economy has suffered a setback with 2.26 million jobs lost due to the COVID-19 pandemic, which has battered the world for over one a half years. Dhaka Chamber of Commerce & Ind...

Microloan disbursement rises sharply

FE REPORT 2021-08-07 10:44:13

Both the amount of loan disbursed by micro-finance institutions (MFIs) and the number of microcredit beneficiaries have risen significantly across the country. Some 746 MFIs have been registered with...

Industrial slump drags down GDP, agriculture saves economy

FHM HUMAYAN KABIR 2021-08-07 08:11:20

After more than a decade, Bangladesh's industrial growth collapsed in the fiscal year (FY) 2019-20 in line with the contraction of the country's total economic output during the year, analysts said Fr...

Bangladesh's growth put at 5.47pc last fiscal

FHM HUMAYAN KABIR 2021-08-06 09:09:39

Bangladesh's GDP has plunged severely due to the Covid-19 in the fiscal year (FY) 2019-2020 as the country's gross domestic output expanded at the rate of 3.51 per cent, official data showed. The e...

Bangladesh Bank to mop up idle money

SIDDIQUE ISLAM 2021-08-06 08:42:29

The central bank moves to mop up excess liquidity from the market as private credit squeeze for investment stagnation as against increased money supply bloated banking system. Economists also appre...

Minister Kamal bins CPD suggestion for checking income source of remiters

FE REPORT 2021-08-05 09:16:41

Finance Minister AHM Mustafa Kamal laughed off a think-tank's strong plea for crosschecking the source of income of remitters who send over US$5,000 at a time, as a robust remittance inflow amid the g...

Bangladesh loses Chinese investment momentum

FHM HUMAYAN KABIR 2021-08-05 08:36:50

Chinese investment bound for new destinations following US-China trade spat bypasses Bangladesh for unattractive bait, analysts say. Vietnam, Bangladesh's inveterate competitor on the global apparel...

Bangladesh's trade in services gap stands at $3b

FE Online Report 2021-08-04 11:52:36

The country’s deficit in trade in services with the rest of the world stood at $3.01 billion in the last fiscal year (FY21). This gap records 17 per cent rise over the previous fiscal year's tr...

Bangladesh's trade deficit snowballing as imports far outstrip exports

SIDDIQUE ISLAM 2021-08-04 08:55:51

Trade deficit of Bangladesh widened by nearly 28 per cent in the just-concluded fiscal year for higher import-payment pressure on the economy amid lower receipts from external trade, officials said....

Health ministry worst performer among top 10 budget recipients

FE REPORT 2021-08-04 08:31:51

The health ministry could spend only 58 per cent of the ADP allocation in the last fiscal year (FY), which was the worst among top 10 recipients of the development budget, officials said on Tuesday....

CPD urges for new price index to make inflation estimate practical

FE ONLINE REPORT 2021-08-03 13:06:51

A leading think-tank has suggested developing a new consumption basket for making inflation estimate more realistic and thus set an appropriate monetary target. The Centre for Policy Dialogue (CPD) m...

IMF increases SDR allocation to US$650b

fe 2021-08-03 08:59:25

The Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion) on Monday to boost g...

Remittance inflow into Bangladesh falls 28pc to $1.87b in July

-- 2021-08-03 08:53:02

The flow of inward remittances dropped significantly in July, following the second wave of the ongoing Covid-19 pandemic, officials said. The inflow of remittances plunged by nearly 28 per cent or US...

Bangladesh Bank launches probe into stimulus loans

SIDDIQUE ISLAM 2021-08-03 08:25:21

A probe gets underway to ascertain whether the Covid stimulus lending follows proper manner and the use of the money from the packages is done for the right purposes, as some faults were already found...

Yields of treasury bonds may decline further

FE ONLINE REPORT 2021-08-02 20:14:11

After facing a big decline in the last fiscal year (FY21), yields of Bangladesh government’s long-term bonds are likely to drop further in the current year. World Government Bond, a virtual pla...

Asian factory activity hit by rising costs

-- 2021-08-02 10:47:14

Asia's factories hit a rough patch in July as rising input costs and a new wave of coronavirus infections overshadowed solid global demand, highlighting the fragile nature of the region's recovery. M...

Bangladesh's trade deficit may exceed $26b

SIDDIQUE ISLAM 2021-08-02 08:42:34

Bangladesh's overall trade deficit may cross US$26 billion by this fiscal yearend as trading sector faces unprecedented headwind while a healthy balance-of-payments position continues for lesser impor...

System of electronic tax deducted at source to be introduced soon

DOULOT AKTER MALA 2021-08-01 08:42:59

The taxpayers would soon be able to adjust or claim a tax credit or seek a refund of their paid advance income tax (AIT) under the electronic tax deducted at source (e-TDS) system. The tax authorit...

Call for rationalising duty, VAT on dredging equipment

FE REPORT 2021-08-01 08:32:39

Experts at a programme on Saturday called for rigorous river training and river dredging to revive the country's waterways for transportation of goods and passengers at the cheapest rate. Besides, th...

BUILD urges central bank to support services sector

FE REPORT 2021-08-01 08:27:27

The central bank has been urged to extend policy support to the services sector under its monetary policy, which was announced on Thursday last, as a strategy to prevent fund diversion to unproducti...

Vietnam crosses Bangladesh, turns second largest RMG exporter globally

FE ONLINE REPORT 2021-07-31 13:32:39

By maintaining a persistent growth in most of the years in last decade, Vietnam crossed Bangladesh to become the second largest clothing exporter globally in 2020. World Trade Statistical Review 2021...

Execution of foreign-funded projects being hampered

FHM HUMAYAN KABIR 2021-07-31 09:48:02

The execution of development projects, especially those funded by donors and mega ones, is hit hard by the Covid-19 pandemic. The disruption caused to the supply of essential materials and technical...

Lockdown dealing a severe blow to low-income people

JUBAIR HASAN 2021-07-31 08:42:41

The ongoing strict lockdown imposed to stem the spread of coronavirus is dealing a severe blow to the low-income people, especially those in the informal sector. In fact, the restrictions on movement...

All export-oriented industries in Bangladesh will resume operations on Aug 01

-- 2021-07-30 18:45:10

The Bangladesh government has allowed export-oriented factories to resume production on Aug 1 amid the ongoing coronavirus lockdown.   The Cabinet Division announced the decision on Friday...

World Bank lauds Bangladesh's growth, despite downturn

-- 2021-07-30 09:52:15

The World Bank has acknowledged Bangladesh’s remarkable economic development and growth, and reassured the global lender's continued support for this country's prosperity. Private Industry and...

Finance minister Kamal unaware of fund diversion to bourses

FE REPORT 2021-07-30 08:31:05

Finance minister AHM Mustafa Kamal on Thursday said he did not know whether the money of the pandemic-linked stimulus packages was channelled to the stock market, creating bubble in bourses. Mr Kamal...