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The Financial Express

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Tk 2.05tn ADP awaits approval on Tuesday

Tk 2.05tn ADP awaits approval on Tuesday

FHM HUMAYAN KABIR 2020-05-16 09:19:13

The government is set to approve a Tk 2.05-trillion Annual Development Programme (ADP) at the National Economic Council (NEC) meeting scheduled for Tuesday, officials said on Friday. Amid the coronav...

Funding relief packages: BB opts for massive QE

Funding relief packages: BB opts for massive QE

Jasim Uddin Haroon 2020-05-16 09:16:24

The central bank is purchasing securities without any check to funnel funds into banks, which are supposed to finance economic rescue packages. The quantitative easing or QE is a form of unconvention...

Summit Gazipur II receives  $140m from Clifford Capital and Japan’s SMBC

Summit Gazipur II receives $140m from Clifford Capital and Japan’s SMBC

FE Online Desk 2020-05-15 22:23:02

Summit has closed USD 140 million (equivalent to BDT 11.90 billion) as long-term financing from Clifford Capital Pte. Ltd. (“Clifford Capital”) of Singapore and Sumitomo Mitsui Bankin...

Indonesia will impose VAT on digital services from July

Indonesia will impose VAT on digital services from July

-- 2020-05-15 22:03:03

Indonesia will require big internet companies to pay value-added taxes (VAT) on sales of digital products and services from July as part of efforts to boost revenue amid the coronavirus pandemic. It...

COVID-19 could cost global economy $8.8t: ADB

COVID-19 could cost global economy $8.8t: ADB

-- 2020-05-15 16:05:05

The coronavirus pandemic could cost the global economy between $5.8 trillion and $8.8 trillion (£4.7 trillion-£7.1 trillion), according to Asian Development Bank (ADB). That's more than d...

Near-term US economic outlook darkens

Near-term US economic outlook darkens

Reuters 2020-05-15 15:50:17

An already-dismal near-term US economic outlook has darkened further in the latest Reuters poll of economists, and while a recovery is still forecast for the second half, the economy won’t come...

Want a fast recovery? Invest in tests, Fed's Kaplan says

Want a fast recovery? Invest in tests, Fed's Kaplan says

REUTERS 2020-05-15 13:11:16

Even with tens of millions of jobs lost and a historic decline in output projected this quarter, the US economy could still pull off a relatively quick recovery, Dallas Federal Reserve President Rober...

Dhaka, Ottawa discuss ways to absorb pandemic shock on economy

Dhaka, Ottawa discuss ways to absorb pandemic shock on economy

FE Report 2020-05-15 09:18:22

Canada has proposed forming an international alliance to address the challenge of the coronavirus pandemic. It has also urged Bangladesh to join the proposed alliance to soften the coronavirus impact...

China Harbour provides foodstuffs for 2000 families in Madaripur   

China Harbour provides foodstuffs for 2000 families in Madaripur  

FE Online Desk 2020-05-14 22:02:18

In the context of ongoing economic hardship caused by COVID-19 pandemic China Harbour Engineering Company Ltd. (CHEC), an international company of China has donated foodstuffs for two thousand distr...

Vivo in the top five smartphone brands

Vivo in the top five smartphone brands

FE Online Desk 2020-05-14 15:10:09

As COVID-19 has hit the world economy, the sales of many business organizations have been decreased and plenty of companies have stopped production. Though global smartphone sales fell down, the Chin...

Bangladesh’s stimulus package tops Tk 1.0 trillion

Bangladesh’s stimulus package tops Tk 1.0 trillion

-- 2020-05-14 14:06:43

The government has announced an additional Tk 20 billion stimulus package to assist migrant workers, unemployed youth and rural population during the economic crisis caused by the coronavirus pandemic...

Global economy to shrink by 3.2pc: UN report

Global economy to shrink by 3.2pc: UN report

UNB 2020-05-14 11:23:22

The world economy has been projected to shrink by 3.2 per cent wiping out nearly four years of output gains as economic activities around the world comes to grinding halt against the backdrop of the...

SCB's scheme for health workers: Reinsurers loath to take risk

SCB's scheme for health workers: Reinsurers loath to take risk

SYFUL ISLAM and REZAUL KARIM 2020-05-14 09:25:29

With the number of both infections and fatalities on the rise, none of global reinsurers has agreed to partner with Sadharan Bima Corporation (SBC) to launch an insurance scheme for physicians and oth...

BB introduces special repo for one year

BB introduces special repo for one year

-- 2020-05-13 21:20:14

Bangladesh Bank (BB) has introduced a special repurchase agreement (repo) for one year to help the banks and non-bank financial institutions (NBFIs) in providing loans under the government-declared st...

BB relaxes conditions for remittance incentives

BB relaxes conditions for remittance incentives

-- 2020-05-13 17:27:21

Bangladesh Bank has relaxed the conditions for incentives on the money sent by expatriate Bangladeshis to lift up the sinking flow of remittances amid the coronavirus pandemic. As per the relaxed con...

MetLife Bangladesh announces unique  COVID-19 support programme for customers

MetLife Bangladesh announces unique COVID-19 support programme for customers

FE Online Desk 2020-05-13 17:06:45

MetLife Bangladesh on Wednesday announced a new initiative in response to the COVID-19 situation in Bangladesh. The newly-launched programme titled “Sathe Achi – MetLife COVID-19 Customer...

Multi-cloud platforms offer key new data capabilities and differentiation

Multi-cloud platforms offer key new data capabilities and differentiation

FE Online Desk 2020-05-13 15:46:53

A new study from Forrester Consulting, commissioned by Oracle*, emphasises the essential role of multi-hybrid cloud platforms to collate the mass of information that enables analysis of insights and...

UK GDP shrinks by record 5.8 pc in March, harder COVID hit ahead

UK GDP shrinks by record 5.8 pc in March, harder COVID hit ahead

-- 2020-05-13 15:41:03

Britain’s economy shrank by a record 5.8 per cent in March as the coronavirus crisis escalated and the government shut down much of the country, according to official data that point towards an...

India's Modi announces $266 billion coronavirus package

India's Modi announces $266 billion coronavirus package

Reuters 2020-05-13 11:03:53

Indian Prime Minister Narendra Modi said on Tuesday that the government would provide 20 trillion rupees ($266 billion) in fiscal and monetary measures to support an economy battered by a sweeping...

BB guideline on lending eases for CMSME sector

BB guideline on lending eases for CMSME sector

FE REPORT 2020-05-13 09:16:24

Banks are allowed to provide loans without maintaining internal credit risk rating system (ICRRS) to the cottage, micro, small and medium enterprise (CMSME) sector under the Tk 200-billion stimulus pa...

BSCIC urges 7 banks to give loans to salt farmers

BSCIC urges 7 banks to give loans to salt farmers

-- 2020-05-12 20:01:30

Bangladesh Small and Cottage Industries Corporation (BSCIC) has urged seven banks in Cox’s Bazar to provide loans to salt farmers at 4 per cent interest with rebate facility. The banks are: Son...

‘64pc children say their families facing serious food crisis’

‘64pc children say their families facing serious food crisis’

-- 2020-05-12 19:30:49

A survey by Save the Children in Bangladesh shows that 64 per cent of children from marginalised groups and their families are currently facing serious food crisis amid the coronavirus shutdown. Data...

Planning Commission finalises ADP of Tk 2.05t

Planning Commission finalises ADP of Tk 2.05t

-- 2020-05-12 18:08:06

The Planning Commission on Monday finalised the annual development programme (ADP) involving Tk 2.051 trillion for the next 2020-21 fiscal year. The ADP draft got the approval from the extended meeti...

BSRM Group helps the helpless

BSRM Group helps the helpless

FE Online Desk 2020-05-12 16:52:00

Recently, BSRM Group Employees contributed their one day salary to the Group’s fund raising program to help the helpless during the pandemic. The amount was distributed in three phases. Mr. Mah...

foodpanda introduces insurance for their riders                     

foodpanda introduces insurance for their riders                    

FE Online Desk 2020-05-12 16:28:14

The food delivery platform, foodpanda has taken yet another initiative to help people, especially daily wagers, fight the economic distress caused by lockdowns all across the country. In its newest...

Coca-Cola resumes manufacturing facility in Mymensingh

Coca-Cola resumes manufacturing facility in Mymensingh

FE Online Desk 2020-05-12 16:21:25

Coca-Cola has resumed its manufacturing facility at International Beverages Private Limited (IBPL) in Mymensingh.  The operations began after successful inspection and appraisal by the Government...

Malaysia's industrial output index in March falls 4.9 pc

Malaysia's industrial output index in March falls 4.9 pc

-- 2020-05-12 15:32:43

Malaysia's Industrial Production Index (IPI) decreased 4.9 per cent year on year in March, as all sectors registered negative growths, official data showed Tuesday. According to Malaysian Statistics...

Govt releases Tk 4.0-billion cash incentive for exporters

Govt releases Tk 4.0-billion cash incentive for exporters

FE Online Report 2020-05-12 13:12:29

The government has released its fourth installment of cash incentive amounting to Tk 4.0 billion for disbursement among exporters for the fiscal year (FY) 2019-20. The money will be distributed for t...

MoF releases Tk 12.5b for cash support programme

MoF releases Tk 12.5b for cash support programme

FE REPORT 2020-05-12 10:19:59

The ministry of finance (MoF) released on Monday Tk 12.50 billion to provide cash support for five million poor families affected by the coronavirus pandemic. The beneficiaries will receive Tk 2,500...

Big taxpayers targeted to beat shortfall

Big taxpayers targeted to beat shortfall

Doulot Akter Mala 2020-05-12 09:29:44

The National Board of Revenue, or NBR, will step up its focus on large taxpayers until June of the current fiscal year after it has found VAT collection slipped by nearly 40 per cent last month. The...