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The Financial Express

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NEC approves 8th FYP with a target of 8.51pc growth by FY'25

NEC approves 8th FYP with a target of 8.51pc growth by FY'25

FE ONLINE REPORT 2020-12-29 18:24:32

The government has endorsed the 8th five-year plan (FYP) with a target to boost the country’s economic growth to 8.51 per cent by its terminal fiscal year 2024-25 recovering from the Covid-19 im...

Vietnam posts highest trade surplus in five years

Vietnam posts highest trade surplus in five years

-- 2020-12-28 15:22:05

Vietnam recorded export turnovers of approximately 281.5 billion US dollars in 2020, up 6.5 per cent year-on-year, and import turnovers of over $262.4 billion, up 3.6 per cent, with a trade surplus of...

Bangladesh economy to become 28th largest in 2030

Bangladesh economy to become 28th largest in 2030

JASIM UDDIN HAROON 2020-12-28 09:34:02

Bangladesh’s economy will be 28th largest in 2030 and 25th largest in 2035 , the UK's Centre for Economics and Business Research (CEBR) has made the projection in a recent report. Austria now e...

Vietnam's growth slips to 30-year low

Vietnam's growth slips to 30-year low

Reuters 2020-12-27 22:48:07

Vietnam’s economic growth slowed this year to its weakest in at least three decades, buffeted by the COVID-19 pandemic, natural disasters and a sluggish global economy, government data showed on...

State-owned Krishi Bank seeks Tk 9.5b bailout

State-owned Krishi Bank seeks Tk 9.5b bailout

REZAUL KARIM 2020-12-27 09:40:35

Troubled by huge capital shortfall, the Bangladesh Krishi Bank (BKB) has recently sought Tk.9.5 billion from the government to raise its paid-up capital citing an altogether different reason. The cap...

China to overtake US economy by 2028: Think tank

China to overtake US economy by 2028: Think tank

-- 2020-12-26 12:41:34

The Chinese economy is set to overtake the US in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the Covid-19 pandemic, a think tank said...

Millions of Americans lose unemployment benefits as Trump refuses to sign Covid relief bill

Millions of Americans lose unemployment benefits as Trump refuses to sign Covid relief bill

-- 2020-12-26 12:13:09

Millions of Americans saw their jobless benefits expire on Saturday after US President Donald Trump refused to sign into law a $2.3 trillion pandemic aid and spending package, protesting that it did n...

Americans’ charity surges with 20m relying on unemployment benefits

Americans’ charity surges with 20m relying on unemployment benefits

-- 2020-12-25 11:00:16

Hundreds of cars line up before dawn on weekly distribution days for the Forgotten Harvest’s partner food pantries in the metro Detroit area, where visits are up by 50 per cent this year. The n...

BRICKS bank to help Bangladesh amass fund for development goals

BRICKS bank to help Bangladesh amass fund for development goals

-- 2020-12-24 18:50:13

Bangladesh had shown interest in joining the New Development Bank, BRICS Bank, when it was coming into being in 2014 only for it to lean towards the China-sponsored Asian Infrastructure Investment Ban...

Eighth FYP should focus on rationale demand projection, better distribution in power sector

Eighth FYP should focus on rationale demand projection, better distribution in power sector

FE Online Report 2020-12-24 18:16:15

The power sector of Bangladesh is increasingly facing challenges with regard to inefficiency, cost escalation, lack of cleaner energy-mix, poor quality of transmission and distribution and rising fina...

Singapore's manufacturing output increases 17.9pc on year in November

Singapore's manufacturing output increases 17.9pc on year in November

-- 2020-12-24 15:49:59

Singapore Economic Development Board (EDB) on Thursday announced that the country's manufacturing output increased 17.9 per cent year on year in November, compared to a revised 0.8 per cent decline in...

BB making transition from LIBOR to alternative reference rate

BB making transition from LIBOR to alternative reference rate

FE REPORT 2020-12-24 09:06:10

The central bank on Tuesday issued a draft policy seeking opinions from the stakeholders concerned to set up alternative reference rate after phasing out of the London Inter-Bank Offered Rate (LIBOR...

Euro, Aussie gain, ignoring Trump's threat to block stimulus

Euro, Aussie gain, ignoring Trump's threat to block stimulus

-- 2020-12-23 22:15:48

The euro rose to $1.22 and the dollar fell on Wednesday as foreign exchange traders looked beyond US President Donald Trump’s threat to block a $892 billion COVID-19 aid package, reports Reuters...

PM orders fresh stimulus plan to tackle second Covid wave

PM orders fresh stimulus plan to tackle second Covid wave

-- 2020-12-23 22:07:16

Prime Minister Sheikh Hasina on Wednesday asked the finance ministry and other related ministries and divisions to formulate another financial stimulus package plan keeping the second wave of COVID-19...

Indian minister assures Bangladesh of cooperation in ensuring barrier-free trade

Indian minister assures Bangladesh of cooperation in ensuring barrier-free trade

-- 2020-12-23 15:39:06

India has assured Bangladesh of cooperation in ensuring barrier-free trade. Accordingly, the assurance was conveyed by Minister of Railways, Commerce & Industry, Consumer Affairs and Food & P...

Malaysia launches 10-year plan to restart tourism sector after $25b loss in pandemic

Malaysia launches 10-year plan to restart tourism sector after $25b loss in pandemic

-- 2020-12-23 12:23:41

Malaysia on Wednesday launched a 10-year plan to restart its battered tourism sector, which is estimated to have lost more than 100 billion ringgit ($24.61 billion) this year due to the coronavirus pa...

Trump threatens to veto Covid-19 relief bill

Trump threatens to veto Covid-19 relief bill

-- 2020-12-23 11:44:30

US President Donald Trump has lashed out at lawmakers over the newly approved 900-billion-US-dollar Covid-19 relief package, threatening not to sign the bill if changes are not made to increase the am...

Bangabandhu Hi-Tech Park beckons entrepreneurship

Bangabandhu Hi-Tech Park beckons entrepreneurship

SAIF UDDIN, BACK FROM RAJSHAHI 2020-12-23 10:20:52

The construction of key facilities at Bangabandhu Sheikh Mujib Hi-Tech Park in the northern education city of Rajshahi is set to finish by next year. The Tk 2.88-billion hi-tech park (HTP) will creat...

2nd wave Covid-19 fallout may slow down Bangladesh recovery, warns BB

2nd wave Covid-19 fallout may slow down Bangladesh recovery, warns BB

Siddique Islam 2020-12-23 08:50:53

The slower global economic recovery amid the second wave of Covid-19 may hinder Bangladesh's effort to overcome the fallouts from the pandemic's first hit, according to a latest Bangladesh Bank (BB)...

Remittance outlook bleak for emerging economies like Bangladesh

Remittance outlook bleak for emerging economies like Bangladesh

REUTERS 2020-12-22 15:00:05

Larger-than-expected money transfers from migrants overseas have provided a tonic for several sickly economies during the coronavirus crisis, but the outlook for such flows remains fraught with uncert...

Business continuity plan to be piloted at two economic zones

Business continuity plan to be piloted at two economic zones

FE Report 2020-12-22 10:19:34

The Planning Commission and Bangladesh Economic Zones Authority will conduct a piloting of business continuity plan (BCP) among the industries located in two economic zones aiming to strengthen resi...

Export policy review meeting today

Export policy review meeting today

FE REPORT 2020-12-22 09:57:11

The government will review the progress in implementation of the existing export policy 2018-21 aiming to help boost export, officials said. To this effect, the monitoring committee on the existing e...

ADB provides additional $50m for pandemic-affected microenterprises

ADB provides additional $50m for pandemic-affected microenterprises

-- 2020-12-21 20:32:46

The Asian Development Bank (ADB) and the government of Bangladesh on Monday signed agreements for $50 million in additional loans for the resumption of the economic activities of microenterprises seve...

US Congress approves $900 billion Covid-19 relief bill

US Congress approves $900 billion Covid-19 relief bill

-- 2020-12-21 12:08:47

The US Congress has passed another stopgap funding bill to avert a government shutdown and provide lawmakers more time to vote on the Covid-19 relief deal and long-term government funding. The House...

Huge lending rate cut to promote Japanese investments

Huge lending rate cut to promote Japanese investments

FE Report 2020-12-21 10:24:34

The central bank has slashed significantly the interest rate on loans under the foreign direct investment promotion project (FDIPP) to facilitate Japanese investment in Bangladesh. The interest rate...

Import costs go up with oil price rise

Import costs go up with oil price rise

SIDDIQUE ISLAM 2020-12-21 10:13:59

The country's spending on imports increased slightly in November, lifted by an uptrend in petroleum prices in the international market. The coronavirus vaccines rollout in the United States and the U...

Mandatory online tax return filing from 2021

Mandatory online tax return filing from 2021

FE REPORT 2020-12-20 11:34:54

The National Board of Revenue (NBR) is exploring possibilities to make online tax return submission mandatory for salaried taxpayers from next year, said a senior tax official on Saturday. It is also...

Blended finance can substitute foreign aid for Bangladesh development: Experts   

Blended finance can substitute foreign aid for Bangladesh development: Experts  

FE OUTREACH TEAM   2020-12-18 21:36:15

Bangladesh will soon need to go for innovative financing for its development projects apart from utilising existing financial resources earmarked for attaining globally aligned development goals. The...

3,26,758 migrant workers return home in eight months

3,26,758 migrant workers return home in eight months

FE ONLINE REPORT 2020-12-18 19:50:19

Expatriates’ Welfare and Overseas Employment Minister Imran Ahmad has said a total of 3,26,758 migrant workers returned home after losing their jobs from April 1 to November 30 this year. The m...

ADB recommends prioritising water security in Covid-19 recovery

ADB recommends prioritising water security in Covid-19 recovery

-- 2020-12-18 17:26:19

Economies of Asia and the Pacific must put water security at the top of their agenda to recover from the fallout of the coronavirus pandemic and adapt to climate change, according to a new flagship re...