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The Financial Express

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Tainted money whitening offers have little effect

Tainted money whitening offers have little effect

Doulot Akter Mala 2019-07-10 10:09:05

The existing black money whitening facility through voluntary disclosure of undisclosed income drew a poor response in the last three fiscal years (FYs), as only Tk 1.96 billion money was legalised in...

Bangladesh, Bhutan to finalise PTA to boost bilateral trade

Bangladesh, Bhutan to finalise PTA to boost bilateral trade

-- 2019-07-09 20:59:58

Bangladesh and Bhutan are going to finalise the Preferential Trade Agreement (PTA) aiming to increase bilateral trade between the two countries. Outgoing Bhutanese Ambassador to Bangladesh Sonam Tobd...

ADP implementation increases  in FY19

ADP implementation increases in FY19

-- 2019-07-09 19:58:04

The implementation rate of the Annual Development Programme (ADP) in the last fiscal year (FY19) was 94.32 per cent with an overall expenditure of Taka 1.67 trillion. “This ADP execution in the...

Trade gap stands at $14.65b in July-May

Trade gap stands at $14.65b in July-May

FE Online Report 2019-07-09 16:48:36

Country’s merchandise trade deficit with the rest of the world stood at US$14.65 billion during the first 11 months of the past fiscal year (FY19). Central bank statistics, released this week,...

First ECNEC meeting of FY20 approves 13 projects

First ECNEC meeting of FY20 approves 13 projects

-- 2019-07-09 16:37:25

The Executive Committee of the National Economic Council (ECNEC) has approved a total of 13 projects involving Taka 77.44 billion at its first meeting of the current fiscal year (FY 2019-20). The mee...

BASIS National ICT Awards kicks off

BASIS National ICT Awards kicks off

FE Online Report 2019-07-09 16:04:17

The third edition of BASIS National ICT Awards 2019 has begun today (Tuesday). The winners of this award will be nominated for the APICTA Awards 2019 which is going to be held at Ha Long Bay, Vietnam...

Malaysia central bank holds key rate at 3.0pc

Malaysia central bank holds key rate at 3.0pc

-- 2019-07-09 15:34:39

Bank Negara Malaysia (BNM), the central bank of the country, kept its key interest rate at 3.0 per cent on Tuesday, as expected. The BNM kept the rate, expressing confidence that domestic demand...

Junior antitrust researchers behind India’s latest Google probe

Junior antitrust researchers behind India’s latest Google probe

-- 2019-07-09 11:23:24

Two junior Indian antitrust research associates and a law school student were behind a complaint that sparked a probe into Google’s alleged anti-competitive practices in the country, in what has...

Overseas jobs drop by 18pc

Overseas jobs drop by 18pc

FE Report 2019-07-09 09:41:30

The country's overseas employment dropped by 18 per cent in the first six months of the current year following a reduction in recruitment by Middle Eastern nations, official data showed. A total of 3...

FY19 exports rise by 10.55pc, hit $40.53b

FY19 exports rise by 10.55pc, hit $40.53b

FE Report 2019-07-09 09:37:19

The country's export earnings reached an all-time high of US$ 40.53 billion in the just concluded fiscal year (FY), 2018-19, registering a 10.55 per cent growth over that of the previous fiscal, accor...

NBR to launch mobile app to prevent tax evasion

NBR to launch mobile app to prevent tax evasion

-- 2019-07-08 17:38:09

The National Board of Revenue (NBR) is going to launch a ‘mobile app’ for increasing the number of taxpayers and preventing tax evasion.  “We will make web-based software and a...

Loan rescheduling: SC extends stay on HC order

Loan rescheduling: SC extends stay on HC order

FE Online Desk 2019-07-08 14:48:53

The Supreme Court on Monday extended for two months its stay on a High Court order that halted a central bank circular providing loan defaulters with privileges. That means, the privileges that defau...

Non-merger of economic, admin cadres affects govt dev activities

Non-merger of economic, admin cadres affects govt dev activities

FHM Humayan Kabir 2019-07-08 11:56:28

Development activities in the public sector are being hampered due to non-effectiveness of the government's order to merge administration and economic cadres of the Bangladesh Civil Service (BCS), ins...

Economists warn revenue shortfall may lead to debt trap

Economists warn revenue shortfall may lead to debt trap

FE Report 2019-07-08 10:04:19

As the government spending is growing, failure in meeting the revenue targets could put Bangladesh into a debt trap, economists warned on Sunday. To avoid such unpleasant macroeconomic situation, the...

BB heist: APG pledges pressure on Manila to refund money

BB heist: APG pledges pressure on Manila to refund money

FE Report 2019-07-08 09:46:13

The Asia Pacific Group (APG) on money laundering has assured Bangladesh of ratcheting up pressure on the Philippines to return the heisted reserve money, officials said. The Group said had the Philip...

Chinese AEW aircraft 50pc more efficient than US ones

Chinese AEW aircraft 50pc more efficient than US ones

Global Times 2019-07-07 18:05:48

China's aerial early warning (AEW) aircraft are 50 per cent more efficient than US ones in terms of electromagnetic resources utility. Military analysts said on Sunday that the Chinese aircraft could...

'Large-scale reform must to cut growing inequality'

'Large-scale reform must to cut growing inequality'

FE Report 2019-07-07 12:50:26

Large-scale structural reform is urgently needed in income generation and distribution process to reduce growing inequality in the society, economists opined at an international conference in the capi...

Resilient Chinese economy eases anxieties brought by bleak world economic future

Resilient Chinese economy eases anxieties brought by bleak world economic future

Global Times 2019-07-06 20:52:18

China's macroeconomy is at a critical stage as internal economic problems have emerged in the last two years. When we attempted to define the "new normal" of China's economy and chose the path to stru...

Turkey fires c bank governor, appoints deputy

Turkey fires c bank governor, appoints deputy

-- 2019-07-06 12:25:16

Turkey on Saturday fired its central bank governor and replaced him with the bank’s deputy governor, a presidential decree published on the official gazette showed. Murat Cetinkaya, who had b...

Luxury at the cost of development

Luxury at the cost of development

FHM Humayan Kabir 2019-07-06 12:05:42

Many government agencies are busy constructing luxury, multi-storied office buildings with billions of taka from the development budget overlooking the priority needs, analysts said on Friday. Deve...

Soaring NPL poses downside risk to growth momentum

Soaring NPL poses downside risk to growth momentum

Siddique Islam 2019-07-06 09:43:29

Rising non-performing loans (NPLs) and tight liquidity condition on the domestic front alongside external challenges are likely to pose downside risk to growth momentum, the central bank has said. Th...

'Salt farmers to get special protection for five years'

'Salt farmers to get special protection for five years'

-- 2019-07-05 18:38:49

The government will provide special protection to the salt farmers for next five years to achieve self-sufficiency in salt production. Industries Minister Nurul Majid Mahmud Humayun and State Ministe...

Record gas price spike puts squeeze on BD garment makers

Record gas price spike puts squeeze on BD garment makers

FE Online Desk 2019-07-05 16:28:17

Apparel makers such as Dhaka-based Ananta Group are powering Bangladesh's economic expansion, the fastest in Asia, but a record high gas price spike threatens to derail the industry's growth, accordin...

BD among four countries to win US-China trade war

BD among four countries to win US-China trade war

-- 2019-07-05 12:48:52

Bangladesh, Vietnam, Taiwan and South Korea are victors in the US-China trade war, according to a CNN report. Americans are buying less from China. But rather than leaning on US producers, they're av...

India unveils budget for FY 2019-20

India unveils budget for FY 2019-20

-- 2019-07-05 12:43:23

India on Friday unveiled a budget aimed at boosting infrastructure and foreign investment, the first since the Bharatiya Janata Party led by Prime Minister Narendra Modi returned for a second term in...

Tax collection faces headwinds in FY 2019

Tax collection faces headwinds in FY 2019

FE Report 2019-07-05 09:27:00

Tax collection faced a Tk 600 billion shortfall in the just-concluded fiscal year (FY) against the revised target, lowest in five years. The National Board of Revenue (NBR) mobilised Tk 2.22 trillion...

Man pours water on Baidu chief

Man pours water on Baidu chief

-- 2019-07-04 16:40:32

The chief executive of Chinese tech giant Baidu has been doused with water during a speech about artificial intelligence (AI). Robin Li, co-founder of the firm, was mid-presentation when a man walked...

Climate change makes heatwave five times more likely: Scientists

Climate change makes heatwave five times more likely: Scientists

-- 2019-07-04 16:27:02

Last week's record breaking heatwave across much of Europe was made "at least five times" more likely to happen by climate change, say scientists. Their rapid attribution study says that rising tempe...

Australia faces 161b USD infra funding shortfall

Australia faces 161b USD infra funding shortfall

-- 2019-07-04 15:14:11

Australia is facing a major shortfall in funding for critical infrastructure, according to a report from the Group of 20 (G20). The report found that Australia has to spend an extra 230 billion Austr...

Private sector credit growth rebounds in Ramadan

Private sector credit growth rebounds in Ramadan

FE Report 2019-07-04 10:47:47

The private sector credit growth bounced back in May, following higher trade financing due to the holy month of Ramadan, after maintaining a falling trend in the previous seven consecutive months,...