Search results for: Bangladesh

Formation of special fund: Scheduled banks asked to submit info on daily basis

Mohammad Mufazzal 2020-06-07 10:03:18

Bangladesh Bank (BB) has asked the scheduled banks to submit information on daily basis regarding the formation of the special fund earlier announced to support the country's ailing capital market....

ACME Lab’s net profit drops slightly in nine months

FE Online Report 2020-06-07 09:54:27

ACME Laboratories Ltd’s net profit after tax fell slightly by 1.74 per cent year-on-year in the nine months for July, 2019 to March, 2020. The board of directors of the company in a virtual mee...

Chinese investment: Government picks 17 'priority' projects

MIR MOSTAFIZUR RAHAMAN 2020-06-07 09:39:56

The government has selected a total of 17 development projects worth US$11.5 billion as priority ones for Chinese investment. The list of priority projects has been prepared in line with the decision...

BGBA seeks reduction of AIT to 5.0pc in next budget

FE ONLINE REPORT 2020-06-06 15:53:11

Bangladesh Garment Buying House Association has demanded a reduction in Advance Income Tax (AIT) to 5.0 per cent from the existing 10 per cent in the next budget. “Due to the ongoing coronaviru...

LafargeHolcim tops Sustainalytics ESG Rating in construction materials sector

FE DESK REPORT 2020-06-06 10:24:56

Sustainalytics, a global leader in environmental, social and governance risks (ESG) and Corporate Governance research and ratings, published its latest LafargeHolcim ESG Risk Rating. Of all 101 const...

Weekly Review: Twin perils hit stocks hard

Babul Barman 2020-06-06 10:17:51

Stocks plunged in the outgoing week, the first week after two months break, as the growing tension over the impacts of Covid-19 pandemic and the new 'floor price' system. Both the perils kept investo...

10pc hike in ADP outlay for agri sector likely

Yasir Wardad 2020-06-06 09:35:27

Allocation for the agriculture sector is set to rise by 10 per cent in the development budget for the fiscal year (FY) 2020-21. The basic objective behind earmarking higher allocation for the agric...

Ministry prods SoBs over virus stimulus packages

FE REPORT 2020-06-06 09:32:51

The ministry of finance (MoF) has asked the state-owned banks (SoBs) to expedite steps to implement the stimulus packages that the government announced to help recoup the impacts of Covid-19 pandemic...

Insurers hit hard by pandemic

FE REPORT 2020-06-06 09:26:02

The gross premium of 33 life insurance companies rose by nearly 7.0 per cent in 2019 before the arrival of the novel coronavirus in the country. The rate for 46 non-life insurers also grew by nearly...

Foreign currency reserve, annual remittance hit record

-- 2020-06-05 22:43:00

Expatriate Bangladeshis sent around $16.56 billion in remittance until June 3 of the current fiscal 2019-20, which is all-time high of any fiscal. “As of June 30, in previous fiscal year, Bangl...

Public opinion sought on draft rules for issuance of debt securities

FE Report 2020-06-05 10:07:07

The securities regulator has sought public opinion on the draft rules formulated for issuance of debt securities including the green bond. The stakeholders will be allowed to submit their opinions on...

Prime Bank's net profit grows 18 per cent in Q1

FE DESK REPORT 2020-06-05 10:03:13

Prime Bank Limited has earned a net profit of Tk 510 million in the first quarter (Q1) of 2020 on solo basis, registering a growth of 18 per cent over the corresponding period of 2019. The bank has a...

FIs seek refinancing fund of Tk 100 billion

FE REPORT 2020-06-05 10:00:28

Prime Minister Sheikh Hasina joined a ceremony on Thursday via video conference where a delegation of Bangladesh Leasing and Finance Companies Association (BLFCA) donated Tk 95 million to the Prime...

Delta Hospital applies to withdraw IPO proposal

FE Report 2020-06-05 09:59:47

Delta Hospital has applied to withdraw its IPO (initial public offering) proposal to avoid the non-compliances to be created on the company's listing with the share price determined by eligible inve...

Import-export thru' Benapole halted since March 23

Doulot Akter Mala 2020-06-05 09:53:13

Import-export activities with India through the country's largest land-port Benapole have remained almost stalled since March 23, raising serious concerns over supply chain disruption of essentials....

Thousands of garment workers lose jobs

MONIRA MUNNI 2020-06-05 09:46:40

Thousands, mostly garment operatives, have lost their jobs in what industry insiders describe as a fall in production and work orders amid the Covid-19 pandemic. Some 67 factories, including seven no...

IMF almost halves GDP growth rate

SIDDIQUE ISLAM 2020-06-05 09:46:29

The International Monetary Fund or IMF has lowered GDP growth projection for Bangladesh to 3.8 per cent for fiscal year 2019-2020 from its earlier estimate of 7.4 per cent in the aftermath of the pand...

Private sector credit growth drops further

FE REPORT 2020-06-05 09:41:06

Private sector credit growth decelerated further in April due to lower credit demand following supply chain disruption caused by the coronavirus pandemic, bankers said. The growth in credit flow to t...

Enforce 'hard' lockdown

FE REPORT 2020-06-05 09:32:33

Economic policy experts, private sector leaders and health professionals have suggested enforcement of a 'hard' lockdown in the country for some days to help control an unmanageable spike in Covid-19...

Farmers incur Tk 565b loss on shutdown

FE REPORT 2020-06-05 09:27:48

The farmers incurred a loss worth Tk 565 billion during the 45-day general holidays announced by the government to prevent the spread of coronavirus, according to BRAC research released on Thursday....

RMG factories may slash workforce from June: BGMEA chief

-- 2020-06-04 20:52:29

The readymade garments (RMG) factories can now use only half their workforce due to the coronavirus crisis, which may lead them to shed jobs from June, Rubana Huq fears. She says the owners are ready...

Govt so far announces $12.11b stimulus to combat COVID-19

-- 2020-06-04 20:23:57

The government has so far announced 19 stimulus packages worth over $12.11 billion (Tk 1,02,957 crore) to offset the COVID-19 shock on various sectors and minimise the sufferings of the people hit har...

Stocks keep losing amid growing coronavirus tension

FE ONLINE REPORT 2020-06-04 15:26:46

Stocks kept the losing streak on Thursday as concerns over the worsening Covid-19 situation and the floor prices mechanism kept the market almost muted. DSEX, the key index of the Dhaka Stock Exchang...

Forex reserves cross $34 billion mark for first time

FE Online Report 2020-06-04 13:22:07

Bangladesh’s foreign exchange reserves have crossed US$34 billion mark for the first time, after a substantial amount of fund was received from a multilateral donor agency, officials said. The...

People urge govt to announce pro-poor budget

-- 2020-06-04 11:41:13

People who have been hit hard by the recent shutdown aimed at containing the coronavirus outbreak, have urged the government to announce a pro-poor national budget that saves both the lives and liveli...

Stocks open lower as investors mostly cautious  

FE Online Report 2020-06-04 11:30:03

Stocks witnessed downturn at opening on Thursday investors’ concerns over the worsening coronavirus situation and the floor prices mechanism kept the market almost muted. Within first 30 minute...

'Floor price' keeps buyers aloof

Mohammad Mufazzal 2020-06-04 10:03:16

Trading on both the bourses in the country remained dull as the majority of sale orders placed above the 'floor prices' kept the buyers aloof in last few sessions. As per existing system, the market...

5.4pc inflation rate likely next fiscal

FHM Humayan Kabir 2020-06-04 09:26:45

The government is likely to keep the average inflation rate within the 5.4 per cent limit in fiscal year 2020-21, officials said on Wednesday. The inflation target for the next fiscal will be propose...

Budget spending to go up by 11pc in FY '21

SYFUL ISLAM 2020-06-04 09:25:54

The appointment of additional number of doctors and nurses to fight coronavirus pandemic will push up the operating expenditure of the government by around 11 per cent in the next fiscal year (FY'21)...

Stocks end lower again amid sluggish turnover

FE ONLINE REPORT 2020-06-03 15:09:18

Stocks extended their losing streak for the third straight session on Wednesday as investors fearing further economic contraction due to ongoing coronavirus crisis. DSEX, the key index of the Dhaka S...