Search results for: EC

Apple's Cook criticises social media practices, intensifying Facebook conflict

Reuters 2021-01-29 11:25:27

Apple Chief Executive Officer Tim Cook on Thursday criticised polarisation and misinformation on social media, intensifying a conflict between the iPhone maker and Facebook. In remarks delivered at t...

Post-pandemic export basket needs to be diversified: Experts

FE Report 2021-01-29 10:12:23

Speakers at an international webinar have stressed the need for diversifying the country's export basket and focusing on bilateral free trade agreements to address the challenges of the post-Covid glo...

Financial perils in check for now, eyes turn to risk of market correction

Tobias Adrian and Fabio Natalucci   2021-01-28 21:51:01

"The vaccines are here!"-the cry heard and welcomed the world over-has boosted hopes of a global economic recovery in 2021. Yet until vaccines are widely available, the market rally and the economic r...

Bangladesh RMG sector struggles as pandemic empties order books

REUTERS 2021-01-28 13:52:38

Bangladesh’s huge export-oriented readymade garment industry is fighting for its survival after fresh coronavirus curbs in Europe and North America shrivelled already-weakened order books, indus...

Google to stop using Apple tool to track iPhone users

-- 2021-01-28 12:01:36

Google’s iPhone apps such as Maps and YouTube will stop using a tool from Apple Inc that allows them to personalise ads, avoiding a new Apple warning that informs users their browsing is being t...

BIDA's coordination with stakeholders required to improve business ranking

FE Report 2021-01-28 11:04:41

Speakers at a programme on Wednesday said the Bangladesh Investment Development Authority (BIDA) should coordinate more with its stakeholders to do better in the Ease of Doing Business ranking. They...

Dhaka gets 3.0b foreign aid in July-Dec

FHM HUMAYAN KABIR 2021-01-28 10:01:53

Bangladesh received 10 per cent higher foreign aid in the first half of fiscal year (FY) 2020-21 compared with the same period last year, boosted by some large loans, including a budgetary support, of...

Indian customs rules affecting Bangladesh exports clash with SAFTA

DOULOT AKTER MALA 2021-01-28 08:53:09

Rules of origin of the South Asian Free Trade Area (SAFTA) can supersede the provisions of the new Indian customs rules in case any conflicts arise, experts say. The Indian customs (administration of...

Central bank calls for exhausting stimulus funds by March

SIDDIQUE ISLAM 2021-01-28 08:44:46

The central bank has asked the banks to exhaust all stimulus packages by March to help revive the economy, battered by Covid-19. The advice was given at a virtual meeting between the bankers and Bang...

Finance minister doesn't believe 42pc Bangladeshis are poor now

FE REPORT 2021-01-28 08:24:16

Finance minister AHM Mustafa Kamal has trashed a recent survey report that showed the country's existing rate of poverty at around 42 per cent. "I don't want to talk about it. You know, it's entirely...

Bangladesh receives $1.45b more remittance through formal channel during pandemic: Study

FE Online Report 2021-01-27 20:08:14

Bangladeshi migrant workers sent around US$1.45 billion more remittance through formal channel during the COVID-19 period, a study has found. It said the demand for hundi money (informal channel) to...

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

-- 2021-01-27 19:59:32

Money transfers from migrants overseas could rebound to pre-pandemic levels, upending a World Bank forecast of a further slowdown in remittances to developing countries in 2021, according to a new stu...

Bangladesh sets ship export target at $4.0b by 2025

-- 2021-01-27 19:42:24

The government has set an export target of $4.0 billion dollars for the country's shipbuilding industry by 2025. In order to help the sector reach the target, the cabinet recently approved ‘Shi...

Twitter suspends My Pillow CEO for election misinformation

Reuters 2021-01-27 11:03:49

Twitter has permanently suspended the account of My Pillow chief executive Mike Lindell for repeated violations of the company’s policy on election misinformation, the social media firm said. L...

Central bank set to extend export development fund's enhanced credit limit

SIDDIQUE ISLAM 2021-01-27 10:59:18

The central bank is set to extend the enhanced credit limit under its Export Development Fund (EDF) scheme for the textiles and clothing exporters by six more months to help boost proceeds from overse...

Global economy threatened by Covid-19 resurgence

-- 2021-01-27 10:54:26

There is a high risk of a resurgence in coronavirus (Covid-19) infections derailing the world economy this year, according to a firm majority of economists in a Reuters poll, who forecast global GDP w...

Top taxpayers to be honoured

FE REPORT 2021-01-27 08:53:42

The National Board of Revenue (NBR) has selected a total of 141 taxpayers to recognise the individuals and corporate entities for the highest tax payments in fiscal year 2019-20. The income tax wing...

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

-- 2021-01-26 19:39:45

The International Monetary Fund (IMF) on Tuesday raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn in 2020 would be nearly a full percentage point less...

Facebook blocks Israel's Netanyahu chatbot

Reuters 2021-01-26 13:05:49

Facebook said on Monday it removed a post and suspended a messenger bot from Israeli Prime Minister Benjamin Netanyahu’s page, after it posted that he wanted phone numbers to call and convince p...

Sophia makers plan mass rollout amid pandemic

REUTERS 2021-01-26 11:03:43

“Social robots like me can take care of the sick or elderly,” Sophia says as she conducts a tour of her lab in Hong Kong. “I can help communicate, give therapy and provide social sti...

Google workers to form global union alliance

REUTERS 2021-01-26 10:46:28

Google employees from across the globe are forming a union alliance, weeks after workers at the search engine giant and other units of parent company Alphabet Inc formed a labor union for US and Canad...

Twitter introduces tool to tackle misinformation

REUTERS 2021-01-26 10:32:48

Twitter Inc said on Monday it launched a pilot programme that has users flag tweets that they believe are misleading and write notes to provide context. The project, called Birdwatch, is initially of...

China, Bangladesh experts advocate ADR to resolve disputes

FE REPORT 2021-01-26 09:12:38

Chinese and Bangladeshi experts during a webinar on Monday favoured using alternative dispute resolution (ADR) to strengthen open account trade for import and export between China and Bangladesh. The...

No to import tax cut on rice, edible oil

FE Report 2021-01-26 09:07:53

The National Board of Revenue (NBR), on Monday, ruled out any possibility to cut import taxes on rice and edible oil despite the recent price spiral of these two essential commodities. The NBR Chairm...

Relaxed rules show decline in NPLs; banks asked to recover loans from defaulters

FE REPORT 2021-01-26 08:26:36

Finance minister AHM Mustafa Kamal on Monday said the volume of defaulted loans has decreased in the banking sector due to the simplification of rules and regulations by the central bank. He said the...

China's duty rebate yields little for Bangladesh

SYFUL ISLAM 2021-01-26 08:12:43

The prolonged tariff preferences have hardly helped Bangladesh boost exports to the Chinese market due to narrow product basket, stringent value addition requirement and the lack of competitiveness, s...

Finance minister says number of loan defaulters stands at 334,982

-- 2021-01-25 17:10:35

Finance Minister AHM Mustafa Kamal has said there are 334,982 loan defaulters in banks and other financial institutions in Bangladesh at present. Kamal highlighted the steps taken by the government f...

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

SM Najmus Sakib 2021-01-25 15:50:06

A new report by the Oxfam said on Monday that it could take more than a decade for the poor people across the globe to recover from the economic losses caused by the coronavirus pandemic. In its...

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Reuters 2021-01-25 14:24:48

Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make it one of the wo...

Elon Musk's SpaceX launches record spacecraft in cosmic rideshare programme

Reuters 2021-01-25 13:05:03

A veteran rocket from billionaire entrepreneur Elon Musk’s SpaceX aerospace company launched 143 spacecraft into space on Sunday, a new record for the most spaceships deployed on a single missio...