Search results for: Economy

FE budget webinar calls for additional support to address poverty, inequality

FE REPORT 2021-05-27 08:20:51

The budget for the upcoming fiscal year (FY) should have more than usual policy supports designed to deal with the worsening poverty situation and rising income inequality due to Covid-19 pandemic, op...

Pakistan may seek aid from Bangladesh in 2030, former WB Adviser says

BSS 2021-05-26 17:56:39

Highly praising Bangladesh’s economic growth and expressing concern over Pakistan’s current economic turmoil, a former World Bank (WB) adviser said that Pakistan could be seeking aid from...

Countries eager to reopen borders for tourism

-- 2021-05-26 15:14:43

Countries reliant on tourism are racing to reopen borders and revive economies decimated by the pandemic. The World Travel & Tourism Council (WTTC) estimates that the sector lost nearly $4.5 tril...

Number of unapproved projects halved in next ADP

FE REPORT 2021-05-26 09:16:03

The government has incorporated nearly half the last fiscal's unapproved projects in the next annual development programme (ADP) as part of a cautious move amid the Covid-19 pandemic. It has included...

Government's net borrowing target likely at Tk 320 billion

FE REPORT 2021-05-26 08:41:54

The government is set to enhance, by over 50 per cent, the net borrowing target from National Savings Schemes to Tk 320 billion in the new fiscal year, up from the current fiscal's Tk 200 billion, sou...

Dhaka receives higher amount of foreign aid during Covid months

FHM HUMAYAN KABIR 2021-05-26 08:37:18

The development partners released US$4.82 billion worth of assistance during the first 10 months of the current fiscal year (FY2020-21), according to official figures. The disbursement was exactly th...

Securities regulator, insurers to explore ways of covering risks

JASIM UDDIN HAROON 2021-05-26 08:24:43

A move is underway to cover the risks associated with fixed-income financial instruments being approved by the securities regulator. The Bangladesh Securities and Exchange Commission (BSEC) has appro...

Global climate schemes putting a price on carbon emissions: WB Report

REUTERS 2021-05-25 20:55:22

A World Bank report on Tuesday showed more than a fifth of the world's greenhouse gas emissions are now covered by a price on carbon dioxide (CO2) emissions to help meet climate goals. A carbon cost...

India plans stimulus package to support economic growth

Reuters 2021-05-25 14:18:52

India is preparing an economic stimulus package for the sectors worst affected by COVID-19, Bloomberg reported on Tuesday, citing people familiar with the matter. The finance ministry is working on p...

Experts suggest framing separate guideline for CMSMEs

FE REPORT 2021-05-24 13:48:33

Speakers at a programme on Sunday suggested framing a separate guideline and better coordination between the regulatory bodies and financial institutions to ensure credit flow to informal sectors. Th...

'Health, nothing else, should get priority in next budget'

FE REPORT 2021-05-24 12:53:15

Noted economists and health experts at a discussion on Sunday suggested adopting balanced policies that would help sustain both 'life and livelihood' amid the Covid-19 pandemic. Instead of imposing a...

Corruption, bureaucracy impede growth of bilateral trade with US

FE ONLINE REPORT 2021-05-23 18:50:48

Speakers at a discussion blamed corruption, weak infrastructure, and unfriendly bureaucracy as impediments to the growth of bilateral trade and attracting investments between USA and Bangladesh. Addr...

Enhanced access to electricity important, says former BB governor

FE REPORT 2021-05-23 10:49:45

Ensuring access to electricity has been pivotal for the macroeconomic success of Bangladesh, former governor of Bangladesh Bank (BB) and Chairperson of Unnayan Shamannay Dr. Atiur Rahman said on Sat...

Fears of revenue shortfall push down government allocations

FHM HUMAYAN KABIR 2021-05-23 10:31:32

The government had to allocate Tk 414.49 billion less fund than the demand placed by different ministries under the new annual development programme (ADP) for the upcoming fiscal year (FY) due to a po...

Hard times for money changers, thanks to Covid restriction

JASIM UDDIN HAROON 2021-05-23 08:23:57

Money changers, who mostly trade in foreign currencies with individuals on physical counters in the open market, are struggling to survive for a drastic fall in the movement of international passeng...

Mega projects, not Covid priority areas, secure more allocations

FHM HUMAYAN KABIR 2021-05-22 08:21:55

The government allocated one-fourth of the next year's development budget to 10 mega projects notwithstanding their unimpressive implementation rate. Like the previous fiscals, the government has k...

Bangladesh surpasses India on per capita income

-- 2021-05-21 21:15:35

Bangladesh, which outpaced India in many indices of economic or human development, has surpassed its giant neighbour on per capita income. “Once described as a bottomless basket by US Secretary...

Trade deficit crosses $14b in nine months

FE ONLINE REPORT 2021-05-20 18:31:44

Bangladesh’s trade deficit has widened by more than 20 per cent in the first nine months of the current fiscal year (FY) because of rising import payment pressure on the economy, officials said....

Remittance grows by 18.4pc in 2020

SIDDIQUE ISLAM 2021-05-20 09:16:46

The inflow of remittance into Bangladesh grew by 18.4 per cent to US$21.7 billion in 2020, defying the gloomy projections and inspite of the ongoing Covid-19 pandemic globally. This growth in inward...

Corporate tax cut likely next fiscal year

FE Report 2021-05-20 08:31:55

Corporate taxpayers might see a cut in their tax rates in the upcoming fiscal year (FY), 2021-22, while individual's tax rates and tax-free ceiling might remain unchanged. Officials said the corpor...

An open China a boon to global economy

-- 2021-05-19 17:41:33

Some 1,300 global brands including Swatch of Switzerland, Swarovski of Austria, Shiseido of Japan, and America's Dell and Tesla gathered at the first China International Consumer Products Expo in Ha...

British inflation rate more than doubles to 1.5pc in April

-- 2021-05-19 15:58:37

British consumer price inflation more than doubled in April at the start of what the Bank of England hopes will be a temporary surge as the economy recovers from last year's COVID slump. Consumer pri...

Bangladesh govt to borrow Tk 55b more in May to meet budget deficit

SIDDIQUE ISLAM 2021-05-18 14:01:22

The government has amended the auction calendar to borrow Tk 55 billion more from the scheduled banks to meet the budget deficit only for this month as a falling trend of surplus funds in its accounts...

Starting a business: Unlike Bangladesh's 19.5 days, OECD nations need 9.2

FE REPORT 2021-05-18 12:59:26

Starting a business in Bangladesh needs 19.5 days, whereas the same in South Asia requires 14.5 days and just 9.2 days in the high-income OECD countries. A construction permit in Dhaka requires 281 d...

Next budget may skip facility of legalising black money

DOULOT AKTER MALA 2021-05-18 12:38:28

Despite disclosure of a record amount of 'undeclared' funds during the first three quarters of the current fiscal year (FY), the government may discontinue the softest-ever black money whitening pro...

Japan's economy shrinks 4.6pc in FY 2020

-- 2021-05-18 11:28:53

Japan's gross domestic product (GDP) in the fiscal year 2020 shrank 4.6 per cent in real terms, down for the second straight year, government statistics revealed Tuesday. The figure logged the larges...

World Economic Forum cancels 2021’s annual conference

REUTERS 2021-05-17 22:30:47

The World Economic Forum (WEF) has cancelled its annual meeting - the blue riband event for the global elite to discuss the world's problems - due to be held in Singapore later this year, the organise...

Thailand's GDP contracts 2.6pc in first quarter

-- 2021-05-17 14:50:15

Thailand's economic growth contracted 2.6 per cent from a year earlier in the first quarter of 2021 as continued coronavirus outbreaks dent consumption and the tourism sector, official data showed Mon...

Less than 50pc ADP executed in July-April period

FE REPORT 2021-05-17 10:40:28

The government has implemented only 49 per cent of the development projects in the first 10 months of the current fiscal year (FY), with the health ministry performing poorly again, officials said on...

Bangladesh government likely to finalise Tk 2.25tn development budget

FHM HUMAYAN KABIR 2021-05-17 10:22:18

The government is likely to approve a Tk 2.25 trillion worth of annual development programme (ADP) for the next fiscal year with a special priority to the health sector, officials said on Sunday. The...