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The Financial Express

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Disburse money from virus stimulus package quickly, FBCCI chief urges banks

Disburse money from virus stimulus package quickly, FBCCI chief urges banks

FE Online Desk 2020-05-06 23:24:42

FBCCI on Wednesday urged the country’s banks to take quick steps to disburse the stimulus money declared by the government to stave off the impact of the coronavirus on the economy. Sheikh Fazl...

Azam J Chowdhury donates PPE to Bangladesh Central Jail

Azam J Chowdhury donates PPE to Bangladesh Central Jail

FE Online Desk 2020-05-06 21:57:11

Mr. Azam J Chowdhury, on behalf of Omera Gas One Ltd. and Omera Petroleum Ltd. has donated 1,000 Personal Protective Equipment (PPE) to the jail authorities to ensure the safety of the staff of Dhaka...

Economists rely on foreign currency reserve to offset COVID-19 impact

Economists rely on foreign currency reserve to offset COVID-19 impact

-- 2020-05-06 19:37:14

Leading economists have said a sound foreign currency reserve and debt ratio to GDP alongside debt repayment capability to largely help Bangladesh offset COVID-19 impacts on its economy. But they fea...

BRAC Bank supports 10,500 families

BRAC Bank supports 10,500 families

FE Online Desk 2020-05-06 18:14:22

BRAC Bank has collaborated with Bidyanondo Foundation for providing food to the community that have been affected worst by COVID-19. The bank has contributed Tk 5.0 million for this purpose.  Th...

China plans to complete space station by 2022

China plans to complete space station by 2022

-- 2020-05-06 16:38:40

China plans to send four crewed space missions and the same number of cargo craft to complete work on its permanent space station within about two years, officials said after the launch of a newly des...

Next budget to focus on agriculture, health, mega projects

Next budget to focus on agriculture, health, mega projects

-- 2020-05-06 12:37:10

The government is likely to go for a strategic 'recovery plan' in the next budget (2020-21) with a greater focus on agriculture and health sectors to revive the national economy hit hard by the corona...

Bank borrowing target raised

Bank borrowing target raised

Siddique Islam 2020-05-06 09:23:00

The government has increased its bank borrowing target by more than 54 per cent to nearly Tk 730 billion to partly finance the budget deficit of the current fiscal year, officials said. The governmen...

Next ADP outlay flattening

Next ADP outlay flattening

FHM Humayan Kabir 2020-05-06 09:20:30

After 11 years, the outlay of the Annual Development Programme, or ADP, could almost flatten as revenue income fell in the aftermath of coronavirus outbreak, officials said on Tuesday. They said the...

Vivo topples Samsung in India

Vivo topples Samsung in India

FE Online Desk 2020-05-05 22:28:02

Vivo has overtaken Samsung in smartphone sales. Vivo has achieved this milestone in the Indian market in the first three months of this year despite the impact of the coronavirus situation. Internati...

Huawei launches 5G-powered Wi-Fi 6 routers

Huawei launches 5G-powered Wi-Fi 6 routers

-- 2020-05-05 22:19:22

Huawei launched ten all-new air engine Wi-Fi 6 series models for the Asia Pacific region which are ideal for laying a high-quality fully-wireless campus. The products stand out with technological inn...

Export earnings decline by 85pc

Export earnings decline by 85pc

-- 2020-05-05 18:50:55

The country’s export earnings witnessed a massive slump, recording an 85 per cent year-on-year drop in April as the coronavirus pandemic continues to roil the global economy. Readymade garments...

BB to release Tk 250b new notes before Eid

BB to release Tk 250b new notes before Eid

-- 2020-05-05 13:03:13

Bangladesh Bank (BB) aims to release new currency notes of Tk 250 billion in the market before the Eid. The central bank sources said the money would be released about a week before the Eid-ul-Fitr....

Indonesia's Q1 GDP growth hits 19-year low

Indonesia's Q1 GDP growth hits 19-year low

-- 2020-05-05 11:42:18

Indonesia’s economic growth in the first quarter (Q1) slowed significantly more than expected to the weakest in nearly two decades, as the coronavirus pandemic brought business activity to a...

Philippine inflation eases to 2.2pc in April

Philippine inflation eases to 2.2pc in April

-- 2020-05-05 11:10:53

The Philippines' headline inflation further slowed down to 2.2 per cent in April 2020, from 2.5 per cent in March 2020, the Philippine Statistics Authority (PSA) said on Tuesday. "This brings the yea...

Apple, Google ban use of location tracking in contact tracing apps

Apple, Google ban use of location tracking in contact tracing apps

-- 2020-05-05 10:06:06

Apple Inc and Alphabet Inc’s Google on Monday said they would ban the use of location tracking in apps that use a new contact tracing system the two are building to help slow the spread of the n...

ADB likely to endorse $500m budgetary aid

ADB likely to endorse $500m budgetary aid

FHM Humayan Kabir 2020-05-05 09:26:54

The Asian Development Bank (ADB) board is likely to approve US$500 million worth of credit support for Bangladesh on Thursday (May 7) to help the latter meet its budget deficit during the current fina...

BB to facilitate loan/investment in CMSME sector

BB to facilitate loan/investment in CMSME sector

FE Online Desk 2020-05-04 22:14:21

Bangladesh Bank (BB) has directed banks/financial institutions to provide special loan/investment facility to revive cottage, micro, and Small and Medium Enterprises (SMEs) that were affected financia...

ECB survey sees relatively benign recession

ECB survey sees relatively benign recession

REUTERS 2020-05-04 15:40:53

The euro zone economy will contract less than many of the more pessimistic projections suggest but the recovery may be slow and gradual, the European Central Bank’s Survey of Professional Foreca...

Pandemic slams Asia’s factories, activity hits financial-crisis lows

Pandemic slams Asia’s factories, activity hits financial-crisis lows

-- 2020-05-04 11:42:56

Asia’s factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze g...

Rich nations must make pandemic recovery plans green: Global investors

Rich nations must make pandemic recovery plans green: Global investors

Reuters 2020-05-04 10:47:40

The world’s richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that togeth...

Next budget could eye 6.0pc GDP growth rate

Next budget could eye 6.0pc GDP growth rate

SYFUL ISLAM 2020-05-04 09:53:32

The government is likely to set a 6.0 per cent GDP (gross domestic product) growth target for the fiscal year, 2020-21, finance ministry officials say. The rate is 2.2 per cent lower than the origina...

NBR to chase Tk 3.3tn tax target in next FY

NBR to chase Tk 3.3tn tax target in next FY

DOULOT AKTER MALA 2020-05-04 09:37:09

The government has set a Tk 3.30-trillion revenue collection target for the National Board of Revenue (NBR) for the fiscal year (FY) 2021. The target is 1.35 per cent higher than that of the original...

Remittance drops 25pc in April

Remittance drops 25pc in April

FE REPORT 2020-05-04 09:32:09

The flow of inward remittance dropped by nearly 25 per cent in April following the coronavirus outbreak in different parts of the world, officials said. Remittances from Bangladeshi nationals working...

RMG export in April declines nearly 85 per cent

RMG export in April declines nearly 85 per cent

FE REPORT 2020-05-04 09:23:21

Ready-made garment (RMG) export in April 2020 declined by 84.86 per cent, which is $366.58 million over the corresponding month in the last calendar year. Export earnings from the apparel sector were...

Finance ministry seeks opinion on next budget through website

Finance ministry seeks opinion on next budget through website

-- 2020-05-03 21:08:20

The government has taken an initiative to take opinion from all sections of people through website on the budget for the next fiscal year (FY21) to be placed in parliament in June. Various stakeholde...

Thousands of employees in retail sector at risk of being jobless

Thousands of employees in retail sector at risk of being jobless

-- 2020-05-03 18:55:14

Thousands of employees in the retail sector are at the risk of losing their jobs if shops do not reopen before Eid. The International Labour Organization (ILO) has already estimated that almost 25 m...

BB halts interest payment on loans

BB halts interest payment on loans

-- 2020-05-03 18:22:31

The Bangladesh Bank has announced a suspension on interest payments on all loans due in April and May in a bid to help borrowers during the coronavirus pandemic. In a notice on Sunday, the central ba...

'Esho Shobai' distributes Iftar on behalf of Evaly

'Esho Shobai' distributes Iftar on behalf of Evaly

FE Online Desk 2020-05-03 01:51:42

“Esho Shobai”, on behalf of E-commerce-based marketplace Evaly, has recently distributed Iftar items and food among 4,000 people in 1,000 families. To help destitute and unemployed people...

Lockdown exit strategies can help

Lockdown exit strategies can help

Asif Ibrahim, Nihad Kabir, Abul Kasem Khan, Syed Nasim Manzur and Dr M Masrur Reaz 2020-05-02 21:23:46

Restriction must be eased out in a manner that can help get maximum economic gain with minimum loss of lives through the pandemic, and at the appropriate time. Life or livelihood? That is the que...

BD ninth strongest emerging economy in dealing with COVID-19 aftermath   

BD ninth strongest emerging economy in dealing with COVID-19 aftermath  

-- 2020-05-02 21:21:23

The Economist, the leading source of analysis on international business and world affairs, has listed Bangladesh as the ninth strongest economy in its report on the financial strength of 66 emerging e...