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The Financial Express

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Forex market may be more volatile unless reforms are done: Experts

Forex market may be more volatile unless reforms are done: Experts

-- 2022-10-07 08:39:15

Despite Bangladesh Bank's measures to rein in forex spending, the crisis of US dollar drags on without any hint of ending anytime soon, experts say, reports UNB. Recent fall in inward remittances,...

Import orders fall 12pc in Q1

Import orders fall 12pc in Q1

JUBAIR HASAN 2022-10-07 08:34:38

Import orders plummeted by 12 per cent in the first quarter (Q1) of the current fiscal year (FY 2022-23) from the corresponding period of last FY, thanks to regulatory measures for holding back the...

Import cuts, demand squeeze contain fiscal deficit

Import cuts, demand squeeze contain fiscal deficit

JASIM UDDIN HAROON 2022-10-07 08:23:51

Belt-tightening to weather a global crunch yields contrasting outcomes for Bangladesh as it enjoys lower fiscal deficit for demand shrinkage and higher taxes from expensive imports while economic grow...

30,000 complaints against e-commerce entities

30,000 complaints against e-commerce entities

YASIR WARDAD 2022-10-06 20:30:35

Service quality of the country's e-commerce entities has regularly been deteriorating as around 30,000 complaints have been lodged with the government agency concerned in the last few years. Of the c...

Samsung quarterly profit set to slump 25pc, first decline in nearly three years

Samsung quarterly profit set to slump 25pc, first decline in nearly three years

-- 2022-10-06 18:00:58

Samsung Electronics Co Ltd's third-quarter profit could tumble 25 per cent, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chi...

Porsche overtakes Volkswagen as Europe's most valuable carmaker

Porsche overtakes Volkswagen as Europe's most valuable carmaker

-- 2022-10-06 18:00:10

Porsche took pole position as Europe's most valuable automaker on Thursday, overtaking former parent Volkswagen as the price of the sportscar maker's newly-listed shares sped higher. Although Porsche...

Palm oil price down by Tk 8 per litre, sugar price up Tk 6 per kg

Palm oil price down by Tk 8 per litre, sugar price up Tk 6 per kg

-- 2022-10-06 17:14:23

The Commerce Ministry has set the price of packed sugar at Tk 95 per kg, loose sugar at Tk 90, and palm oil at Tk 125 per litre. The ministry on Thursday issued a notification in this regard as per t...

Climate change: Shrimp farming endangered in Khulna

Climate change: Shrimp farming endangered in Khulna

FE ONLINE DESK 2022-10-06 14:57:18

Producers and exporters in Khulna are worried about falling production of shrimps, affecting exports from the region, for hurdles mainly stemmed from climate-induced changes in temperature. In FY2021...

Hilsa export to India: Bangladesh earned $13.6m this year so far

Hilsa export to India: Bangladesh earned $13.6m this year so far

FE ONLINE DESK 2022-10-06 13:04:36

Bangladesh government has earned $13.6 million US dollars from exporting 1,352 tonnes of hilsa fish to India this year so far, Fisheries and Livestock Minister SM Rezaul Karim said today. Hilsa produ...

CCH to auction off 73 goods Oct 16: Official

CCH to auction off 73 goods Oct 16: Official

OUR CORRESPONDENT, CHATTOGRAM 2022-10-06 11:15:01

The Chittagong Customs House (CCH) will auction off 73 kinds of goods, including acid, chemicals and combustible substances which have remained stuck at the port for a long time, on October 16 next....

RAKUB to borrow Tk 10b from BB refinance scheme

RAKUB to borrow Tk 10b from BB refinance scheme

FE REPORT 2022-10-06 09:28:30

Rajshahi Krishi Unnayan Bank (RAKUB) has sought government guarantee against a loan of Tk 10 billion from the central bank's refinancing scheme, sources said. Recently, it wrote to the Financial Inst...

Govt reviews oil, sugar prices today

Govt reviews oil, sugar prices today

FE REPORT 2022-10-06 09:13:59

The government is set to sit with stakeholders today (Thursday) to review the supply and price situation of edible oils and sugar. The meeting with traders and officials concerned will review both su...

Import curb, dollar dearth hit insurance companies

Import curb, dollar dearth hit insurance companies

DOULOT AKTER MALA 2022-10-06 08:43:28

Aggregate collection of consumption tax from large general insurance companies declined last fiscal year (FY), 2021-22, reflecting slowdown in their business as an impact of import restriction. Indus...

LNG re-gasification dips amid import slump

LNG re-gasification dips amid import slump

M AZIZUR RAHMAN 2022-10-06 08:32:00

Bangladesh's liquefied natural gas (LNG) re-gasification dipped to the lowest ebb for import slump as the government tightened energy consumption through austerity to manage foreign-exchange crunch....

Samsung plans to triple its advanced chips production capacity by 2027

Samsung plans to triple its advanced chips production capacity by 2027

-- 2022-10-05 19:10:09

Chip contract manufacturing business of Samsung Electronics plans to more than triple its advanced chips production capacity by 2027 to meet strong demand despite current global economic headwinds. T...

OPEC+ looks set for deep oil supply cuts despite pressure from US, others

OPEC+ looks set for deep oil supply cuts despite pressure from US, others

-- 2022-10-05 18:48:59

OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The pote...

WTO cuts 2023 global trade growth forecast to 1.0pc

WTO cuts 2023 global trade growth forecast to 1.0pc

-- 2022-10-05 17:51:19

The World Trade Organization forecast a slowdown in global trade growth next year as sharply higher energy and food prices and rising interest rates curb import demand, and warned of a possible contra...

Official logo of the Bangla Wash T20 International  Tri-nation Cricket Series unveiled

Official logo of the Bangla Wash T20 International Tri-nation Cricket Series unveiled

-- 2022-10-05 17:47:57

'Bangla Wash T20 International Tri-nation Cricket Series' is going to be held in New Zealand from 7 to 14 October. The official logo of this series was unveiled on Wednesday, 5 October 2022. On this o...

SWIFT lays out its blueprint for central bank digital currency network

SWIFT lays out its blueprint for central bank digital currency network

-- 2022-10-05 17:29:49

Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies. The tri...

Nuclear share in energy generation falls to lowest in four decades

Nuclear share in energy generation falls to lowest in four decades

-- 2022-10-05 17:24:06

The share of nuclear power in global gross electricity generation fell below 10 per cent last year to the lowest in around four decades, an industry report showed on Wednesday. Nuclear energy g...

Amazon investing in outside venture capital funds for first time

Amazon investing in outside venture capital funds for first time

-- 2022-10-05 17:23:40

Amazon.com Inc is investing in outside venture capital funds for the first time, saying on Wednesday it planned to hand $150 million to firms that are backing underrepresented founders. The online re...

BGMEA urges govt to readjust diesel price

BGMEA urges govt to readjust diesel price

FE ONLINE REPORT 2022-10-05 14:42:52

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to readjust local diesel oil price citing the decline in price of the fuel oil in the international markets. Th...

Tesla will remove more vehicle sensors amid Autopilot scrutiny

Tesla will remove more vehicle sensors amid Autopilot scrutiny

REUTERS 2022-10-05 10:55:18

Tesla Inc said on Tuesday it will remove ultrasonic sensors from its vehicles starting this month, as it moves ahead with using only cameras in its safety and driver-assistant features. Tesla vehicle...

Oil climbs ahead of OPEC+ talks on supply cut

Oil climbs ahead of OPEC+ talks on supply cut

REUTERS 2022-10-05 10:24:17

Oil prices inched up on Wednesday extending 3 per cent gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a t...

Tax automation can reduce mistrust, boost transparency, say experts

Tax automation can reduce mistrust, boost transparency, say experts

FE REPORT 2022-10-05 09:34:45

Speakers at a webinar have said automation in the tax-collection process of the National Board of Revenue (NBR) can reduce mistrust and corruption, and increase accountability and transparency. Incom...

'$95b RMG exports by 2030 possible, if MMF potential tapped'

'$95b RMG exports by 2030 possible, if MMF potential tapped'

FE REPORT 2022-10-05 09:30:59

Bangladesh could earn US$95 billion by 2030 from readymade garment (RMG) export, if the country can raise its manmade fibre (MMF)-based garment shipment along with the existing cotton-made items, acco...

Exporters milking 'new market' cash cow

Exporters milking 'new market' cash cow

JASIM UDDIN HAROON 2022-10-05 08:30:32

A perceived ambiguity in government order on incentives for export diversification leaves a large scope for exporters to make some extra bucks by showing shipments to 'new market', sources say. The U...

DCCI president requests Turkey to relax tariffs on Bangladeshi RMG, ceramic products

DCCI president requests Turkey to relax tariffs on Bangladeshi RMG, ceramic products

-- 2022-10-04 19:47:38

Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman requested Turkey to relax tariffs on RMG and ceramic products for Bangladesh's export growth. The DCCI president made the request...

Nitol Insurance Company Limited holds Business Conference 2022

Nitol Insurance Company Limited holds Business Conference 2022

FE ONLINE DESK 2022-10-04 15:58:51

The Business Conference 2022 of Nitol Insurance Company Limited was held recently at the company’s head office in Dhaka. Chairman of the company Mr A K M Monirul Hoque and Director Mrs Naeema H...

Nestle revamps coffee sustainability plan

Nestle revamps coffee sustainability plan

-- 2022-10-04 13:54:11

Food giant Nestle pledged on Tuesday to spend over 1 billion Swiss francs ($1.01 billion) by 2030 on efforts to source coffee sustainably, more than double its previous pledge, as challenges linked...