Search results for: EC

Japan confirms $1.83b in aid under 39th ODA package

FE Online Report 2018-06-14 15:16:58

Japan confirmed US$ 1.83 billion (Tk 153.26 billion) in loan for Bangladesh as it signed a credit deal Thursday in Dhaka. The concessional loan under the 39th Official Development Assistance (ODA) pa...

Apple closing iPhone security hole used by cops, criminals

-- 2018-06-14 14:30:01

Apple says it is to change the default settings of its iPhone to stop hackers and others unlocking devices without proper legal authorisation. The move will also make it more difficult for police to...

Fed lifts rates for second time this year

-- 2018-06-14 12:52:26

The US Federal Reserve on Wednesday raised short-term interest rates by a quarter of a percentage point, its second rate hike this year and the seventh since late 2015. In view of realised and expe...

Public investment returns belie expectations

FHM Humayan Kabir 2018-06-14 10:23:45

The government's growing public expenditure has failed to yield expected results due to unproductive spending, economists said Wednesday. In its national budget, the government has set a target to sp...

Govt targets 5G trial-run in July

Nashir Uddin 2018-06-14 10:19:29

The government has chalked out an ambitious plan to roll out a test-run of fifth generation wireless systems, abbreviated as 5G network services, in the country. As per the plan, the 5G trial-run wil...

Banks’ Apr excess liquidity rises 11pc for CRR cut

Siddique Islam 2018-06-14 10:14:39

The overall excess liquidity with the banks increased by nearly 11 per cent or Tk 77.50 billion in this April, after the central bank slashed the cash reserve requirement (CRR), officials said. The e...

Actual inflow of concessional loans keeps sliding

Jasim Uddin Haroon 2018-06-14 10:04:02

The inflow of concessional loans for financing the national budget has remained lower than the original targets over the years, according to budget documents. Such inadequate foreign funding for the...

UK inflation hits one-year low

-- 2018-06-13 16:08:20

British inflation unexpectedly stuck at a one-year low in May, though rising oil prices suggest a modest increase could be on its way, leaving the outlook for Bank of England interest rates finely...

Uber applies for patent to detect drunk passengers

-- 2018-06-13 12:35:10

Taxi app company Uber has applied for a patent to use artificial intelligence to determine how drunk potential passengers might be. The app used to summon rides could also feed other information to t...

Budget execution rate falling for 'lack of govt capacity'

FE Report 2018-06-13 11:01:54

The government should concentrate more on the implementation of the budget for the next fiscal year (FY) instead of just placing it in parliament. Economists made the remark at a post-budget press co...

Everything in taxation should go online: PwC

FE Report 2018-06-13 10:44:45

The government needs to strengthen its online tax monitoring to help raise its capacity to meet the annual revenue collection target, opined the PricewaterhouseCoopers (PwC), an international professi...

BD’s performance in World Bank policy assessment ‘average’

Syful Islam 2018-06-13 10:01:26

Bangladesh performed 'average' in the World Bank's (WB's) country policy and institutional assessment (CPIA) in 2017, said a new report. The International Development Association (IDA), the bank's so...

US builds world's fastest supercomputer

-- 2018-06-12 21:11:21

Summit, the US's new supercomputer, is more than twice as powerful as the current world leader. The machine can process 200,000 trillion calculations per second - or 200 petaflops. China's Sunway T...

China to launch $47b fund for investment in SEI

-- 2018-06-12 14:37:03

China’s state planner said on Tuesday it would jointly launch with China Construction Bank 300 billion yuan ($46.88 billion) worth of funds for investment in Strategic Emerging Industries (SEI...

Tesla's Autopilot 'full self-driving feature' coming in August

-- 2018-06-12 13:23:29

Tesla promises to install ‘full self-driving feature’ for autopilot in its cars in August Shares of Tesla Inc rose as much as 5 per cent on Monday after Chief Executive Officer Elon Musk...

IBFB for independent body to monitor budget implementation

FE Online Desk 2018-06-12 12:31:11

  The International Business Forum of Bangladesh (IBFB) on Monday demanded the government allocate 55 per cent of the budget outlay to the development sector and the rest as the revenue expendit...

Imports up 15pc in ten months

Siddique Islam 2018-06-12 10:15:30

Overall imports grew by over 15 per cent in the first 10 months of this fiscal year (FY), mainly due to higher import of food grains and fuel oils, officials said. The settlement of letters of credit...

Revenue receipts likely to rise 22-25pc in FY 18: NBR

FE Report 2018-06-12 10:05:42

The tax revenue collection may record 22 to 25 per cent growth in the outgoing fiscal year (FY), 2017-18, the National Board of Revenue (NBR) chairman Md Mosharraf Hossain Bhuiyan has said. The colle...

Pension payments to double next fiscal

Jasim Uddin Haroon 2018-06-12 09:48:51

The country's pension payment is expected to double in the next fiscal year (FY), the latest budget documents show. The payout is estimated to be over Tk 260 billion, twice the size of the 2018 fisca...

Inadequate allocation for agriculture irks rights groups  

FE Online Report   2018-06-11 21:14:15

Rights groups have expressed their disappointment over ‘inadequate’ allocation for the agricultural sector in the proposed budget for fiscal year 2018-19. They also urged the government...

Parliament passes supplementary budget

-- 2018-06-11 16:36:26

The parliament has passed the supplementary budget of Tk 153.398 billion for the fiscal 2017-18 to meet the increased expenditures under different ministries and divisions. Finance Minister AMA Muhit...

Japan's machinery orders up 10.1pc in April

-- 2018-06-11 12:46:14

Japan's core private-sector machinery orders increased 10.1 per cent in April from a month earlier, the government said in a report on Monday. According to the Cabinet Office, the orders, excluding...

Amend budget to make it job-focused

FE Report 2018-06-11 11:27:57

Speakers at a discussion on Sunday stressed the need for amending the proposed budget for the next fiscal year (FY) to make it employment-focused. They also emphasised the importance of turning the b...

BB allows FCBs to remit shares of head office expenses

FE Report 2018-06-11 10:26:31

Foreign commercial banks (FCBs) operating in Bangladesh are allowed to remit the shares of expenses at their head offices without the central bank's prior approval. "The FCBs will be able to remit su...

PM seeks partnership among G7, vulnerable countries on blue economy

-- 2018-06-10 20:30:41

Prime Minister Sheikh Hasina Sunday sought partnership of G7 countries with vulnerable countries for sustainable management and protection of marine and coastal ecosystem. “Partnership between...

Will robots run future cities?

-- 2018-06-10 13:44:59

It is a terrifying vision of the future - a robot police officer with dark eyes and no discernible mouth that can identify criminals and collect evidence. The robocop, complete with police hat to giv...

Larry Ellison debuts automated Oracle offering

FE Online Desk 2018-06-10 13:36:57

Oracle (NYSE: ORCL) CTO and Chairman, Larry Ellison, recently unveiled the world’s first automated enterprise cloud application upgrade product that will enable Oracle customers to reduce the ti...

Pre-polls tension could weigh on economy: IMF

FE Report 2018-06-10 11:30:16

The International Monetary Fund (IMF) has projected a 7.0 per cent economic growth for Bangladesh in the next fiscal year (FY), 2018-19. The growth projection is 0.80 percentage points lower than the...

Land acquisition a new problem area for RHD

Munima Sultana 2018-06-10 10:55:04

Money paid as compensation for acquiring private land now eats up the most part of cost of projects belonging to the Roads and Highways Department (RHD). The recent hike in the official rate of compe...

Monitor mega-projects strictly before polls: SANEM

FE Report 2018-06-10 10:51:59

A think-tank has called for strict monitoring of ongoing mega projects ahead of the national elections. "Instead of focusing on spending, we need to focus on the quality of the projects," said the he...