Search results for: economy

Japan's inflation hits near 8-year high, stays above BOJ's target

REUTERS 2022-09-20 11:56:14

Japan's core consumer inflation quickened to 2.8 per cent in August, hitting its fastest annual pace in nearly eight years and exceeding the central bank's 2 per cent target for a fifth straight month...

Ecuador reaches deal with China to restructure debt

-- 2022-09-20 11:28:30

Ecuador has reached an agreement to restructure its debt with Chinese banks, the government said in a statement on Monday, providing debt relief worth some $1.4 billion until 2025. Ecuador's Presiden...

Dhaka seeks budgetary support confirmation

FHM HUMAYAN KABIR 2022-09-20 08:27:59

Bangladesh government Monday requested early confirmation of a World Bank-pledged loan worth US$1.0 billion for budget support and more funding to navigate economic headwinds blowing from global volat...

Over $1 billion remittance received till Sep 15

-- 2022-09-19 17:00:51

Bangladesh received inward remittance worth over $1.0 billion US dollars in the first 15 days of September, amid the forex crisis in the country. Bankers said remittance inflow shows an upward tren...

Frugal is the new cool for young Chinese as economy falters

REUTERS 2022-09-19 11:08:45

Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year old Sha...

Dhaka EPZ to get $25.62m investment in RMG sector

-- 2022-09-18 20:07:51

Hong Kong-Sri Lanka-Switzerland-owned company Ms Gava Private Limited is going to establish a garments manufacturing industry in Dhaka EPZ. This fully foreign-owned company will invest US$ 25.62 mill...

India economic growth to be sustained by consumer spending rebound

-- 2022-09-18 18:37:41

A sharp rebound in consumer spending and rising employment will sustain economic growth in India in the months ahead, the government said in its monthly economic review for August published on Saturda...

Oil prices to grow by between 2.0pc and 3.0pc this year and next

OPEC and IAEA say 2022-09-18 17:49:56

Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one. Two of the...

NBR relaxes tax return submission for bank loans

-- 2022-09-18 16:15:43

The National Board of Revenue (NBR) has relaxed the condition of showing tax return documents for bank loans up to Tk 2.0 million. It issued a notification in this regard on Sunday with immediate eff...

What is Black Sea Grain Initiative and why does it matter

-- 2022-09-17 20:50:10

Since Russia's invasion of Ukraine, exports of grain from Ukraine, as well as food and fertilisers from Russia, have been hit hard. The disruption in supplies pushed soaring prices even higher and co...

‘Sophisticated software, tech savvy manpower needed to check share market manipulation’

-- 2022-09-17 19:35:45

Chairman of Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubaiyat-ul Islam, has said sophisticated software and technologically knowledgeable manpower are required to check s...

China to help Bangladesh in developing insurance sector

-- 2022-09-16 16:15:01

Bangladesh Insurance Development and Regulatory Authority (IDRA) and Sinosoft Co. Ltd, a China-based company, have signed an agreement to develop the insurance industry in Bangladesh. Chinese Ambassa...

China's economy perks up but dogged by property crisis

REUTERS 2022-09-16 13:50:48

China's economy showed surprising resilience in August, with faster-than-expected growth in factory output and retail sales shoring up a fragile recovery, but a deepening property slump weighed on the...

World Bank fears rising risk of global recession in 2023

FE ONLINE DESK 2022-09-16 13:00:07

The world may be edging toward a global recession as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said on Thursday. The world's thr...

IMF sees further global economic slowdown in third quarter

REUTERS 2022-09-16 09:04:42

Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global re...

Bangladesh, ADB agree to complete projects timely to boost economic recovery

-- 2022-09-15 21:02:09

Bangladesh and the Asian Development Bank (ADB), at a tripartite portfolio review meeting (TPRM) on Thursday, discussed and agreed on actions to further improve the implementation of ADB-assisted proj...

Banks allowed to maintain Yuan accounts to settle cross-border transactions

-- 2022-09-15 20:09:41

Bangladesh Bank (BB) has allowed banks to maintain accounts in Yuan with their corresponding branches abroad to settle cross-border transactions in Chinese currency. "To bring wider scope, it has bee...

Tipu hopes road communication with Bhutan will help in boosting trade

-- 2022-09-15 18:59:30

Commerce Minister Tipu Munshi has said that the launching of road communication with Bhutan via a third country would boost bilateral trade, commerce and tourism. He also opined that communication be...

Sri Lanka's economy shrinks 8.4pc amid fertiliser, fuel shortages

-- 2022-09-15 18:40:52

Sri Lanka's economy shrank 8.4 per cent in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's...

ADB to provide $500m loan to Bangladesh as budget support

-- 2022-09-15 16:55:12

The Asian Development Bank (ADB) would provide $500 million to Bangladesh as budget support on soft conditions. ADB Country Director to Bangladesh Edimon Ginting said this to reporters after meeting...

BB increases shippers' EDF facility

-- 2022-09-15 16:33:20

Bangladesh Bank (BB) has introduced a facility for exporters to repay the loans taken from its Export Development Fund (EDF) in instalments. From now, the entire loan liability can be repaid in three...

Govt appoints Genex Infosys for VAT collection

-- 2022-09-14 18:41:00

Genex Infosys Limited, a leading IT service provider, will provide and install 300,000 VAT collecting machines in Dhaka city and its adjoining areas as well as in Chottagram city in the next three yea...

‘Market-based foreign exchange rate on the cards’

-- 2022-09-14 17:01:27

Finance Minister AHM Mustafa Kamal has said that the government is considering introducing market-based foreign currency exchange rates. “We’re contemplating going for market-based foreig...

Akhaura-Agartola railway line project: ECNEC extends its deadline yet again

FE REPORT 2022-09-14 08:49:11

Failure in completing an India-funded 10km cross-border railway line installation project has compelled the government to extend the deadline on the fourth occasion, officials said on Tuesday. The go...

Central bank website shows Tk 106.15 as highest inter-bank dollar exchange rate

FE ONLINE DESK 2022-09-13 20:25:30

The website of the Bangladesh Bank shows Tk 106.15 as the highest inter-bank rate of dollar exchanges and Tk 101.67 as the lowest rate. According to the website of the central bank, these prices were...

BD can earn $20b more from exports to EU, UK

MONIRA MUNNI 2022-09-13 08:58:48

Bangladesh could earn an additional US$20 billion through export of goods to the European Union (EU) and the United Kingdom (UK), as full potentials of the markets still remain untapped, according to...

Dollar gets costlier by Tk 1.0

FE ONLINE REPORT 2022-09-12 21:52:07

The taka depreciated further against the US dollar on Monday, more than a month after a similar fall. The local currency lost its value by Tk 1.0 on the interbank foreign exchange (forex) market on t...

This might hurt: tectonic plates of global economy shift

-- 2022-09-12 20:17:17

When the Shannon family announced the closure of their garden centre just off London's busy South Circular road after 33 years of trading this month, their message to customers sought to explain their...

BBG discuss ways to overcome trade challenges after Bangladesh’s LDC graduation

FE ONLINE DESK 2022-09-12 19:11:06

The British Business Group (BBG) Bangladesh recently organised an event to discuss on the preparation, planning, implementation, and monitoring of the possible challenges of Bangladesh’s LDC gra...

Economic benefit of hydrocele surgery outweighs cost by 15 times

-- 2022-09-12 18:47:52

The economic benefit of hydrocele surgery outweighs the cost by 15 times, said International Centre for Diarrhoeal Disease Research, Bangladesh (icddr,b) on Monday. It noted that patients with scrota...