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OFID to provide $70m support to offset Covid-19 impacts

OFID to provide $70m support to offset Covid-19 impacts

FHM HUMAYAN KABIR 2020-10-01 10:11:38

The OPEC Fund for International Development (OFID) would provide US$70 million budgetary support to Bangladesh, for the first time, to weather the impacts of the Covid-19 pandemic on the economy. The...

Interest rate spread rises in August

Interest rate spread rises in August

SIDDIQUE ISLAM 2020-10-01 09:36:22

The interest rate spread in the country's banking system increased slightly in August 2020 as banks further slashed rates on deposits but charged a little bit higher on lending. The weighted average...

Study favours FTA with Japan

Study favours FTA with Japan

SYFUL ISLAM 2020-10-01 09:21:43

Signing a free trade area (FTA) agreement with Japan will be immensely beneficial to Bangladesh in the post-LDC era when the country losses trade concessions, a study has found. Presently, all but a...

‘Further relaxation on loan repayment to help businesses’

‘Further relaxation on loan repayment to help businesses’

-- 2020-09-30 20:51:56

Defending the central bank’s move for further relaxation of the bank loan repayment by extending the moratorium until December 31, Finance Minister AHM Mustafa Kamal has said the step aims at he...

Easy funds from stimulus packages trigger inflation fears

Easy funds from stimulus packages trigger inflation fears

-- 2020-09-30 19:58:16

Bangladesh is eyeing a robust economic growth on government measures to ensure flow of money amid the coronavirus crisis, but easy funds from the stimulus packages have triggered fears of inflation....

WB may ready $12b corona vaccine financing for poor countries

WB may ready $12b corona vaccine financing for poor countries

-- 2020-09-30 12:01:34

World Bank President David Malpass said on Tuesday he is seeking board approval for a $12 billion coronavirus vaccine financing plan to help poor and developing countries secure a sufficient share of...

'Alternative' investing made easier

'Alternative' investing made easier

FE REPORT 2020-09-30 09:43:11

The central bank has cut the 'risk weight' for banks to invest in 'alternative' investments. An alternative investment is an investment in any asset class, excluding stocks, bonds, and cash. The r...

Govt seeks more aid from development partners

Govt seeks more aid from development partners

FHM HUMAYAN KABIR 2020-09-30 09:30:46

The government has sought extended financial support from the development partners for implementing the upcoming 8th five-year plan (FYP) to uplift employment and cut poverty to below 16 per cent, off...

Duty-free export market: Bangladesh mulls delay in LDC graduation

Duty-free export market: Bangladesh mulls delay in LDC graduation

FE REPORT 2020-09-30 09:29:40

Prime minister's private industry and investment adviser Salman Fazlur Rahman on Tuesday hinted that Bangladesh is considering 'postponement' of its LDC (least-developed country) graduation slated for...

Import orders drop by 20pc in August

Import orders drop by 20pc in August

SIDDIQUE ISLAM 2020-09-30 09:24:51

Bangladesh's import orders dropped by nearly 20 per cent or US$713.01 million in August last due to lower demand particularly for apparel and clothing because of the ongoing Covid-19 pandemic. Openin...

ECNEC approves four projects involving Tk 3.38b

ECNEC approves four projects involving Tk 3.38b

-- 2020-09-29 17:46:41

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved four projects involving a total cost of Tk 7.96 billion, including a Tk 3.38 billion one to make mouza and plot-bas...

US House Democrats unveil $2.2 trillion Covid-19 relief package

US House Democrats unveil $2.2 trillion Covid-19 relief package

-- 2020-09-29 12:13:12

Democrats from the US House of Representatives unveiled on Monday a 2.2 trillion US-dollar COVID-19 relief package, attempting to pressure the White House and Republicans to reach a deal before the pr...

Pandemic to push Asia’s growth to lowest since 1967: World Bank

Pandemic to push Asia’s growth to lowest since 1967: World Bank

REUTERS 2020-09-29 10:05:24

The coronavirus pandemic is expected to lead to the slowest growth in more than 50 years in East Asia and the Pacific as well as China, while up to 38 million people are set to be pushed back into pov...

Remittance inflow increases amid 55pc fall of migrant jobs

Remittance inflow increases amid 55pc fall of migrant jobs

-- 2020-09-28 19:41:59

Although outflow of migrant workers in January-August period of this year has dropped by 55 per cent compared to same period a year earlier, Bangladesh witnessed 9.6 per cent increase in inflow of rem...

BB extends suspension of loan classification for more three months

BB extends suspension of loan classification for more three months

FE ONLINE REPORT 2020-09-28 19:00:59

The central bank of Bangladesh has extended suspension of adverse classification of any loan for more three months to facilitate business activities that have been adversely affected by the ongoing Co...

Malaysia's exports fall 2.9pc in August

Malaysia's exports fall 2.9pc in August

-- 2020-09-28 12:06:16

Malaysia's exports fell 2.9 per cent year-on-year to 79.14 billion ringgit (about 19 billion US dollars) in August due to lower shipment in all sectors. Malaysia International Trade and Industry Mini...

Bangladesh Bank relaxes ESF conditions   

Bangladesh Bank relaxes ESF conditions  

FE REPORT 2020-09-28 09:48:44

Bangladesh Bank (BB) on Sunday amended the guidelines for the Entrepreneurship Support Fund (ESF) to make it easy for the entrepreneurs. The amendments included, cutting fees for application, definin...

July-Aug tax revenue collection up slightly

July-Aug tax revenue collection up slightly

DOULOT AKTER MALA 2020-09-28 09:43:36

The government's tax revenue collection improved slightly in the July-August period of this fiscal year (FY), 2020-21, with a nominal growth over the corresponding period of last FY. It happened so, a...

Mosharrof Hossain appointed chairman of IDRA

Mosharrof Hossain appointed chairman of IDRA

FE Online Report 2020-09-27 16:14:31

Dr M Mosharrof Hossain has been appointed chairman of the IDRA, the regulator of 79 life and non-life insurers in Bangladesh. The government on Sunday issued an order in this regard. Earlier, he was...

Experts in Bangladesh call on government to make policies far more predictable to ease FDI inflow

Experts in Bangladesh call on government to make policies far more predictable to ease FDI inflow

FE REPORT 2020-09-27 10:38:37

Experts on Saturday listed inconsistencies in relevant policies as the main impediment to smooth flow of foreign direct investment (FDI) into the country. They suggested bringing holistic reforms of...

NBR to set up specialised unit to combat duty evasion

NBR to set up specialised unit to combat duty evasion

-- 2020-09-26 19:51:19

The National Board of Revenue (NBR) will set up a separate central risk management unit under the customs department soon to combat duty evasion through use of technology. According to an official do...

Sri Lanka seeks fresh currency swap facility, deferment of debt payments from India

Sri Lanka seeks fresh currency swap facility, deferment of debt payments from India

-- 2020-09-26 17:29:24

Sri Lankan Prime Minister Mahinda Rajapaksa sought an additional currency swap facility and deferment of debt payments from India during an online bilateral summit with Prime Minister Narendra Modi on...

FDI-related net financial transfers from Bangladesh rise modestly in last decade

FDI-related net financial transfers from Bangladesh rise modestly in last decade

FE Online Report 2020-09-26 17:19:36

Though the net financial transfers related to Foreign Direct Investment (FDI) in Bangladesh increased modestly in the last decade, it is still lower than the net inflows of foreign direct investment....

Over 2,500 handwashing stations planned as WB approves $200m for rural Bangladesh 

Over 2,500 handwashing stations planned as WB approves $200m for rural Bangladesh 

FE Online Report  2020-09-26 14:04:20

The World Bank has approved $200 million to help Bangladesh improve access to safe water and sanitation services in rural areas. The Bangladesh Rural Water, Sanitation and Hygiene for Human Capi...

Farm loan disbursement below target

Farm loan disbursement below target

REZAUL KARIM 2020-09-26 09:54:56

Disbursement of farm loans by banks in the first two months of the current fiscal year (FY), 2020-2021, has remained below the strategic target. Scheduled banks made only 13.15 per cent of the annu...

Global economic outlook ‘less dire’ than June prediction: IMF

Global economic outlook ‘less dire’ than June prediction: IMF

-- 2020-09-25 17:07:13

The global economic outlook is not quite as dark as expected even just three months ago, a top International Monetary Fund official said on Thursday, citing better-than-anticipated economic data from...

Foreign aid disbursement, commitment mark decline

Foreign aid disbursement, commitment mark decline

FHM HUMAYAN KABIR 2020-09-25 10:07:05

The disbursements of foreign aid declined by about 29.5 per cent to US$528 million in the first two months of the current fiscal year (FY) than that of the corresponding period of last FY, according t...

Special funds for stock market: Repo rate slashed to aid banks

Special funds for stock market: Repo rate slashed to aid banks

FE REPORT 2020-09-25 09:34:30

The Bangladesh Bank (BB) on Thursday amended some sections of its earlier notice related to the formation of a special fund by banks for investments in the stock market. On February 10, the BB allowe...

Thailand takes first legal action against Facebook, Twitter over content

Thailand takes first legal action against Facebook, Twitter over content

-- 2020-09-24 16:22:34

Thailand’s digital ministry filed legal complaints with cybercrime police after the two social media companies missed 15-day deadlines to comply fully with court-issued takedown orders from Aug....

WB sees curbing corruption as more important during pandemic

WB sees curbing corruption as more important during pandemic

BSS 2020-09-24 14:21:28

Progress against corruption can be made even under the most challenging conditions, a new World Bank report finds. At a time when unprecedented levels of emergency funds have been mobilised to respon...