Search results for: Economy

Bangladesh could save $500m every year by recycling cotton

REUTERS 2021-06-16 17:37:42

Bangladesh’s garment industry, the world’s second-largest exporter of clothes, could reduce its annual spending by half a billion dollars if it recycled cotton waste from its factories and...

Rampal project work in slow lane

FHM Humayan Kabir 2021-06-16 12:49:09

The implementation of the Rampal 1320-megawatt (MW) thermal power plant, a fast-track project, is on the slow lane as only 66 per cent of the total job could be done as of April last, project insiders...

Living cost in Bangladesh rises by 6.88pc in 2020: CAB

FE ONLINE REPORT 2021-06-16 11:54:31

The cost of living in Bangladesh rose by 6.88 per cent in 2020, with the prices of products and services going up by 6.31 per cent during the period, the Consumers Association of Bangladesh (CAB) ha...

NPLs up despite relaxed loan classification

Siddique Islam 2021-06-16 08:47:59

The amount of classified loans in the banking sector increased slightly in the first quarter (Q1) of the current calendar year despite providing policy support by the central bank in relation to loa...

Land port operations should be brought under one umbrella: State minister

FE REPORT 2021-06-15 10:38:47

State Minister for Shipping Khalid Mahmud Chowdury said on Monday operations of land ports in the country along with their law-enforcers and customs officials concerned are required to be brought unde...

Central bank working on CCP to minimise risks

SIDDIQUE ISLAM 2021-06-15 08:45:44

The central bank is working on establishing a central clearing counterparty (CCP) as an independent authority to lower risks for government securities initially. It formed an eight-member high-powe...

Dhaka to start negotiations with Colombo to sign PTA

FE REPORT 2021-06-14 10:38:56

The government will soon start negotiations aiming to sign a preferential trade agreement (PTA) between Bangladesh and Sri Lanka by July, in a bid to increase bilateral trade volume between the friend...

FBCCI seeks major reform in tax regime

DOULOT AKTER MALA 2021-06-14 10:20:51

The country's apex trade body has demanded bringing a major reform in the country's tax regime as it sought separation of the tax collection and policy wings to ensure time-befitting tax measures. As...

Only 14pc of development budget directly youth-focused: SANEM

FE REPORT 2021-06-14 10:11:44

Only 14 per cent of the annual development programme (ADP) of the proposed budget was directly youth-focused, a SANEM study revealed on Sunday. It said considering the ADP of 22 ministries, it was fo...

Facebook now registered taxpayer in Bangladesh

FE ONLINE REPORT 2021-06-13 14:37:43

Social media giant Facebook has obtained VAT registrations from the National Board of Revenue (NBR) on Sunday complying with the government’s law to operate as a registered taxpayer. From now...

Steps beyond budget important for boosting private investment

FE REPORT 2021-06-13 08:31:30

Issues such as infrastructure development, high cost of doing business and good governance should be addressed to boost private investment, as corporate tax cuts alone would not serve the purpose. Ex...

CSOs, coastal MPs demand allocation of Tk 150b for coastal embankment

-- 2021-06-12 18:25:26

A group of civil society organisations (CSOs) and MPs from coastal areas on Saturday urged the government to allocate at least Tk 150 billion for coastal protection, particularly for climate-resilient...

ADB seeks final nod for floating offshore taka bond, Dhaka not in a hurry

FE REPORT 2021-06-12 08:32:23

The Asian Development Bank (ADB) has sought final approval from the government for floating offshore taka-denominated bond for Bangladesh, officials said. It has also forwarded a sample approval lett...

Marginal rise in Bangladesh government's liabilities likely in 2021-22

FE REPORT 2021-06-12 08:27:08

The government's liabilities in the next fiscal year (FY), 2021-22, are expected to rise marginally, as its domestic liabilities, which usually become higher than foreign loans, are likely shrink to s...

AFD to provide Tk 1,24b to support electricity grid digitisation

FE ONLINE DESK 2021-06-11 16:03:40

France Development Agency (AFD) and the Bangladesh government have signed a financing agreement of Tk 1.24 billion (EUR 12 million) to support advanced digital solutions in the power and energy sector...

US budget deficit tops $2tr in first eight months of FY21

-- 2021-06-11 13:01:16

The U.S. budget deficit soared to 2.1 trillion US dollars during the first eight months of the fiscal year 2021, which ends on Sept. 30, the U.S. Treasury Department has reported. Federal revenue for...

Policy supports to importers extended until Dec 31

FE REPORT 2021-06-11 10:02:51

The central bank has extended the tenure of its different policy supports to importers by six more months amid the ongoing Covid-19 pandemic, officials said. The importers will now enjoy the facili...

State-owned enterprises' loans with government guarantee soar 22pc

JASIM UDDIN HAROON 2021-06-11 09:51:39

The amount of outstanding loans of the state-owned enterprises (SOEs), backed by the government's guarantees, surged by nearly 22 per cent last year, according to budget document. The document said t...

Private sector credit growth falls further during 2nd wave of Covid-19

SIDDIQUE ISLAM 2021-06-11 08:18:12

Private sector credit growth decreased further in April, mainly due to the second wave of the Covid-19 in the country, bankers said. The growth in credit flow to the private sector came down to 8.29...

Withdrawal of imposed supplementary duty on local tiles, sanitary products sought

-- 2021-06-10 21:09:10

Country’s ceramic makers sought the withdrawal of imposed supplementary duty (SD) on production and supply of all kinds of locally-made tiles and sanitary products in the proposed national budge...

Preparations underway to face LDC graduation challenges

UNB 2021-06-10 17:52:47

The government is preparing an action plan that will focus on helping the businesses to be more competitive in international export trade to face the new challenges after its graduation to a developin...

'6.0m people slide below poverty line in Bangladesh each year'

FE REPORT 2021-06-10 10:01:27

Around 6.0 million people slide down below the poverty line in the country every year due to higher personal costs for availing healthcare services amid poor budgetary allocation for health, according...

FTA with China crucial for absorbing post-graduation shock, experts say

FE Online Report 2021-06-09 17:14:43

Free Trade Agreement (FTA) with China is crucial for Bangladesh not only to reduce the mammoth trade gap between the two countries but also to absorb the shock that Bangladesh is experiencing after gr...

New budget has no weakness, Kamal says

FE Online Report 2021-06-09 15:31:08

Finance Minister AHM Mustafa Kamal said Wednesday that the proposed budget for the fiscal year 2021-22 has no weak side. “The budget has no weakness,” he said after a virtual meeting of t...

World Bank predicts 5.1pc Bangladesh GDP growth in FY22

-- 2021-06-09 11:48:06

The World Bank expects Bangladesh to recover gradually from the pandemic crisis, with 5.1 per cent growth in the fiscal year 2021-22 on the back of 3.6 per cent in the outgoing financial year ending J...

US Senate passes sweeping bill to counter and compete with China

-- 2021-06-09 11:22:43

The US Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology. The desire for a hard line in deali...

Steel manufacturers for slashing CD, AIT on scrap import

FE REPORT 2021-06-09 10:44:10

Steel manufacturers in the country on Tuesday urged the government to slash both customs duty (CD) and advance income tax (AIT) on the import of scrap - the key raw material for manufacturing steel -...

Inflation declines to 5.26pc in May

-- 2021-06-08 18:55:24

The inflation rate declined by 0.30 per cent in May as it came down to 5.26 per cent from 5.56 per cent in April.  “The general point-to-point inflation rate in May fell to 5.26 percentage...

India likely to raise vaccine spending to $6 billion this fiscal year

Reuters 2021-06-08 13:33:59

India may raise spending on Covid-19 shots by over a quarter this fiscal year to up to 450 billion rupees ($6.18 billion) from its budgeted amount, two government sources told Reuters after the prime...

CMA professionals can help check evasion of tax, VAT

FE REPORT 2021-06-08 11:39:50

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) on Sunday urged the government to engage CMA professionals in tax and VAT audit to prevent potential evasion. The platform also...