Search results for: EC

MSMEs need emergency fund at lower interest rate: DCCI to govt

FE Online Report 2020-04-03 19:54:53

Dhaka Chamber of Commerce & Industry (DCCI) on Friday urged the government to create emergency fund for micro, small & medium enterprises (MSMEs) amid coronavirus outbreak at a lower interest...

Al-Arafah to donate 1-day salary of staff

FE Online Desk 2020-04-03 19:14:43

All employees of Al-Arafah Islami Bank Limited have decided to donate one day’s salary to the Prime Minister’s Relief and Welfare Fund to help the government fight the present crisis, crea...

Emirates resumes first passenger flights April 6

FE Online Desk 2020-04-03 18:29:37

Emirates has received approvals to carry passengers on certain flights. Effective from April 6, initial flights will commence from Dubai to London Heathrow, Frankfurt, Paris, Brussels and Zurich, wit...

‘BD should inject more cash into economy to fight COVID-19’

-- 2020-04-03 18:25:37

Bangladesh needs to inject more cash into the economy to tackle the impact of novel coronavirus (COVID-19) pandemic, said Asian Development Bank (ADB) Country Director Manmohan Parkash. He also under...

DCCI for emergency fund for MSMEs

FE Online Desk 2020-04-03 18:01:37

Dhaka Chamber of Commerce & Industry (DCCI) urged the government to create a 3-year long emergency fund with 1. 0 per cent interest to support the financially stressed local MSMEs and informal s...

MTB donates Tk 50m to PM Fund

FE Online Desk 2020-04-03 16:47:09

Mutual Trust Bank Ltd. (MTB) has donated BDT 50 million to the Prime Minister's Relief and Welfare Fund to help fight the outbreak of coronavirus recently. The bank handed over the cheque through Ban...

When will US economy bottom? Economists hunt for the right view

REUTERS 2020-04-03 16:09:50

The economic crisis spawned by the coronavirus pandemic has produced a wave of grim US data, with likely more to come as millions lose jobs, businesses shutter and spending stops. But at some point,...

BD economy expected to remain strong: ADB

-- 2020-04-03 14:42:50

The Bangladesh economy is expected to remain strong in fiscal 2020, with a strong GDP growth rate of 7.8 per cent, according to the Asian Development Bank. The gross domestic product (GDP) of Banglad...

Asia's economy to decline sharply in 2020 due to COVID-19: ADB

-- 2020-04-03 12:35:59

The regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the COVID-19 pandemic before recovering in 2021, according to the Asian Development Bank (ADB. The...

India's growth to slow to 4pc in 2020

-- 2020-04-03 12:19:58

India's gross domestic product (GDP) is projected to slow to 4.0 per cent in fiscal year (FY) 2020 ending on March 31, 2021 due to a weak global environment and continued efforts to contain the COVID-...

Philippine economic growth to fall to 2.0pc in 2020

-- 2020-04-03 11:39:56

The Philippine economic growth is projected to fall to 2.0 per cent in 2020 before a strong recovery to 6.5 per cent in 2021, assuming COVID-19 outbreak is contained by June this year, said ADB. Acco...

Vietnam's industrial production up in first quarter

-- 2020-04-03 11:20:21

Vietnam's national index of industrial production advanced 5.28 per cent year-on-year in the first quarter of this year, the country's General Statistics Office announced on Friday. The main driver o...

Tk 50b stimulus package: BB invites applications from banks

FE REPORT 2020-04-03 08:22:40

The central bank has invited applications in prescribed forms from all the scheduled banks for receiving low cost fund from the government-announced Tk 50 billion stimulus package. "We've issued a ci...

Economist floats recovery plan as virus bites economy

FHM Humayan Kabir 2020-04-03 08:12:19

An economist on Thursday suggested the government devise a two-year "Recovery Plan" aiming to dilute the impact of coronavirus pandemic. Outlining his plan, Dr Selim Raihan, a professor of economics...

Weathering virus impact: MCCI suggests creating Tk 1.0tn fund

 FE REPORT 2020-04-03 08:05:28

An elite chamber on Thursday proposed the government to form a fund of Tk 1.0 trillion to help minimise economic losses as a result of Covid-19 outbreak. The Metropolitan Chamber of Commerce and Indu...

Buyers cancel orders of RMG products worth $3.0b

-- 2020-04-02 21:50:40

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Thursday said buyers have so far cancelled orders worth $3.0 billion following the outbreak of coronavirus. About 1,092 factorie...

BD needs Tk 300b initially to minimise COVID-19 impact

-- 2020-04-02 20:24:52

Bangladesh needs around Taka 300.00 billion initially for three months -- March, April and May -- for various sectors to minimise the impact of the COVID-19 pandemic. The Metropolitan Chamber of Comm...

Garment accessories makers want inclusion in proposed Tk 50b fund

FE Online Report 2020-04-02 18:52:57

Local garment accessories makers have urged the government to include them in the proposed TK 50 billion fund for export sectors or allocate a separate fund for the industry to help them overcome the...

Global economy could shrink by 1.0pc in 2020: UN

-- 2020-04-02 17:45:53

The global economy could shrink by up to 1 per cent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal resp...

"Suspend 8FYP for now, draft 2Y recovery plan"

FE Online Report 2020-04-02 17:40:11

Dr Selim Raihan, executive director of SANEM, has proposed a two-year Recovery Plan for Bangladesh instead of the 8th Five Year Plan (8FYP). In his proposal, Dr Raihan has recommended eight points:...

Almost 900,000 Spanish workers lost their job since coronavirus lockdown

-- 2020-04-02 14:46:35

Spain’s social security data showed on Thursday that close to 900,000 workers lost their job since March 12 when the country went on coronavirus lockdown. Some 898,822 workers lost their jobs s...

‘Tourism sector to lose Tk 97.05b during Feb-June period’

-- 2020-04-01 22:10:21

Bangladesh chapter of Pacific Asia Travel Association (PATA) has predicted that overall tourism sector of the country would incur a loss of approximately Tk 97.05 billion from February to next June 20...

AI tools developed to predict COVID-19 case severity

Global Times 2020-04-01 21:16:16

An artificial intelligence (AI) model which can predict whether a COVID-19 patient will experience a severe illness has been jointly developed by researchers from China and the US. The research was ba...

‘COVID-19 may pull down BD’s growth even below 6.0pc’

FE Online Report 2020-04-01 21:03:24

The impacts of COVID-19 on the country’s economic growth, job losses and upsurge in poverty are expected to be large, observed an economist.  Though the Gross Domestic Product (GDP) of Ban...

G20 finance ministers to deliver roadmap in response to COVID-19

-- 2020-04-01 20:21:06

Finance ministers and central bank governors of the G20 member states has agreed on delivering a roadmap in response to the novel coronavirus. The ministers met on Tuesday through a virtual meeting f...

Single digit interest rate on lending comes into effect

-- 2020-04-01 19:34:15

Banks in the country started implementing single digit 9.0 per cent interest rate for all kinds of loans except credit cards in compliance with the government directives, reports UNB.  Banking i...

China to fully open asset management market as planned despite coronavirus

Global Times 2020-04-01 19:24:29

China will stick to the plan of opening its trillion-dollar asset management market to overseas institutions in April, a gesture that signals the country's determination to open up despite the coronav...

Detailed analysis a must, says BUILD

FE Online Desk 2020-04-01 18:02:51

In view of COVID-19 pandemic, BUILD, a private think tank stressed the need for detailed analysis by a pool of researchers to understand and assess need of the country and also to understand short,...

Huawei releases 2019 Annual Report

FE Online Desk 2020-04-01 16:56:31

Huawei released its 2019 Annual Report on Tuesday in Shenzhen, China, detailing a solid business performance. The company's global sales revenue in 2019 rounded off at CNY858.8 billion (USD 123 billi...

WHO, Viber team up to fight COVID-19 misinformation

FE Online Desk 2020-04-01 14:21:31

The World Health Organization (WHO) and Rakuten Viber are collaborating to fight the misinformation spreading around the topic of COVID-19 with an interactive multi-language chatbot that will be avail...