Search results for: Economy

Remittance inflow witnesses over 36pc growth in FY’21

FE Online Report 2021-07-05 17:45:12

The inflow of remittance grew by over 36 per cent to a record $24.78 billion in the just-concluded fiscal year (FY) despite the ongoing Covid-19 pandemic, officials said. The figure jumped from $18.2...

First-time importers may not use green, blue channels

FE REPORT 2021-07-05 09:10:27

First time importers may not be able to enjoy goods clearance facility through green and blue channels of the customs stations or land-ports with a view to countering tax evasion. Such importers oft...

Bangladesh's tax revenue posts 17pc growth

DOULOT AKTER MALA 2021-07-05 08:42:59

Despite economic slowdown due to the Covid-19 pandemic, revenue collection posted a 17 per cent growth in the just-concluded fiscal year (FY) over that of the previous FY thanks to the contribution of...

Amazon, Tata raise concerns about India's e-commerce rules

-- 2021-07-04 10:23:31

Amazon.com Inc and India's Tata Group have warned government officials that the plans for tougher rules for online retailers would have a major impact on their business models, four sources familiar w...

Bangladesh's apparel exports to US claw back

FE REPORT 2021-07-04 08:47:41

Country's apparel exports to the United States bounced back during the first five months of this calendar year, registering a double-digit growth both in terms of value and volume compared to the same...

More than 40pc of VAT Online Project funds unspent

DOULOT AKTER MALA 2021-07-03 08:44:17

Nearly 43 per cent or Tk 3.0-billion funds of the much-talked-about VAT Online Project (VOP) remained unspent even after the end of its tenure this June 30. Officials said the project underspent the...

Apparel export orders shifting from India, Myanmar to Bangladesh

FHM HUMAYAN KABIR 2021-07-03 08:22:37

The military coup in Myanmar and a grave Covid-19 situation in India have proved to be a boon to Bangladesh's apparel industry. Some export orders from these countries are now shifting to Bangladesh,...

130 countries support global minimum tax of 15pc

-- 2021-07-02 09:44:57

Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15 per cent, they...

New Development Bank asked to expedite Bangladesh's membership

FE Report 2021-07-02 09:00:59

Bangladesh has called on the New Development Bank (NDB) to expedite awarding its membership of the Shanghai-based multilateral lending institution, officials said. Finance Minister AHM Mustafa Kama...

Canada's real GDP contracted 0.3pc in April

-- 2021-07-01 13:01:37

Canada's real gross domestic product (GDP) shrank 0.3 per cent in April 2021, according to Statistics Canada on Wednesday. The total value of all the goods and services produced in Canada's economy s...

Corporate tax receipts exceed target

DOULOT AKTER MALA 2021-07-01 08:43:49

The tax authority has surpassed its target for tax collection from large taxpayers in the just-concluded fiscal year (FY), thanks to the money whitening scheme and withholding tax collection. Accor...

Parliament passes Tk 6.04 trillion budget for FY22

-- 2021-06-30 18:03:44

The parliament has passed a Tk 6.04 trillion budget for the 2021-22 fiscal year starting on July 1. The budget passed by voice vote during a parliamentary session chaired by Speaker Shirin Sharmin Ch...

Nazneen Ahmed joins UNDP as Country Economist

-- 2021-06-30 17:19:37

Dr. Nazneen Ahmed has joined the United Nations Development Programme (UNDP), Dhaka Office as the Country Economist. She will provide policy and strategic advice on various activities of UNDP Banglad...

International tourism may not fully rebound until 2023: UN Report

Reuters 2021-06-30 12:09:02

International tourism arrivals are set to stagnate this year, except in some Western markets, causing up to $2.4 trillion in losses, a UN study said on Wednesday, adding the sector is not expected to...

Higher bank borrowing likely in July

Siddique Islam 2021-06-30 08:41:08

The government is set to start fiscal year (FY) 2021-22 with a higher bank borrowing target for July to adjust expenditure in June and partly finance budget deficit. It may take up to Tk 206.50 billi...

Workers lost one-third of income in one year: Study

FE REPORT 2021-06-30 08:36:48

Low-income people especially returnee migrant workers and urban informal workers have lost at least one-third of their income in one year compared to the pre-pandemic period, according to a study unve...

Black money whitening scope remains, though on harder terms

DOULOT AKTER MALA 2021-06-30 08:24:34

Parliament on Tuesday passed the Finance Bill-2021, amending a few of its original provisions. The lawmakers vetted continuation of the controversial opportunity to legalise undeclared income during...

BEZA appoints PwC to prepare ICT roadmap for Mujib Shilpanagar

FE ONLINE REPORT 2021-06-29 19:09:19

Bangladesh Economic Zone Authority (BEZA) inked a contract agreement with UK-based PricewaterhouseCoopers (PwC) for making ICT roadmap and experience centre design for Bangabandhu Sheikh Mujib Shilpan...

Pandemic widens gender gap in Bangladesh

ADNAN HOSSAIN BHUIYAN 2021-06-29 11:04:21

The gap between men and women in Bangladesh has widened, more in accessing economic opportunities, during the pandemic, various indicators and development literatures show. Despite being one of the t...

World Bank to provide $300m loan for livelihood project

FE REPORT 2021-06-29 09:48:58

The World Bank (WB) will provide US$ 300 million to Bangladesh as a credit to implement the Resilience, Entrepreneurship and Livelihood Improvement (RELI) Project. The signing ceremony of the financi...

Whitening black money: Yet another chance in the offing

DOULOT AKTER MALA 2021-06-28 09:23:10

The government would offer the undisclosed money holders yet another opportunity to legalise their income in the next fiscal year (FY2021-22), but with harder terms than that of the existing ones. Th...

Social safety net allocation may go up during passage of budget

SYFUL ISLAM 2021-06-28 08:35:35

Responding to calls from economists and experts, the government may increase further the allocation for the social safety net programme (SSNP) in the budget for the fiscal year 2021-22 which is slated...

Covid-19 2nd wave to cut Bangladesh's economic recovery, says central bank

FE REPORT 2021-06-28 08:17:33

The central bank has expressed its deep worries over the impact of the ongoing second wave of the Covid-19 on the country's economy. It said the extension of the lockdown period is likely to slow dow...

Experts suggest taking loan from reserve for adequate vaccination

FE ONLINE DESK 2021-06-26 17:37:56

Experts of Unnayan Shamannay urged the government to take a loan from the reserve to bring 70 to 80 per cent of the citizens under the vaccination programme against COVID-19. “This initiative w...

European Union to invest €200b in green projects

-- 2021-06-26 15:28:07

The countries of the European Union (EU) will invest at least 200 billion euros in green projects when they help the economies recover from the COVID-19 pandemic, European Commission President Ursula...

Foreign, joint venture companies outside EPZs seek loan facility

FE REPORT 2021-06-26 09:49:03

Foreign and joint-venture companies operating in Bangladesh are seeking loan facilities from the stimulus packages that the government is implementing to help the pandemic-hit businesses to make a tur...

Foreign currency reserves cross $45.0 billion

-- 2021-06-25 16:15:18

The foreign currency reserves of Bangladesh have crossed the $45.0 billion mark with inward remittances continuing to boost despite the coronavirus crisis. The total figure of reserves at Bangladesh...

WB supports Afghanistan, Bangladesh to benefit from regional collaboration in higher education 

FE ONLINE DESK 2021-06-25 14:15:00

The World Bank has approved a $191 million credit to Bangladesh to help strengthen higher education and respond better to the Covid-19 pandemic. The WB Board of Executive Directors on Thurs...

World Bank approves $400m loan to Philippines

-- 2021-06-25 12:41:04

The World Bank has approved a 400- million-US dollars loan to support reforms that will assist the Philippine government in achieving a resilient financial sector and help ensure a more inclusive reco...

Members of 34pc households lost jobs amid virus: Survey

FE REPORT 2021-06-25 10:59:59

At least one member of 34 per cent of households lost jobs or earning opportunities across the country in the last year due to the Covid-19 pandemic, according to a survey. Besides, 77.23 per cent of...