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The Financial Express

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China successfully launches a pilot reusable spacecraft

China successfully launches a pilot reusable spacecraft

-- 2022-08-06 20:30:24

China successfully launched a pilot reusable spacecraft with its Long March-2F carrier rocket on Friday, reports Reuters citing Chinese state media CCTV. The unidentified spacecraft, which was launch...

South Korea launches first lunar orbiter as space bid gathers pace

South Korea launches first lunar orbiter as space bid gathers pace

-- 2022-08-06 19:10:51

South Korea launched its first lunar orbiter on Friday as it doubles down on its space programmes, aiming to land a probe on the moon by 2030. The Korea Pathfinder Lunar Orbiter, nicknamed Danuri, me...

Musk says Twitter deal should go ahead if it provides proof of real accounts

Musk says Twitter deal should go ahead if it provides proof of real accounts

-- 2022-08-06 18:44:15

Elon Musk said that if Twitter Inc could provide its method of sampling 100 accounts and how it confirmed that the accounts are real, his $44 billion deal to buy the company should proceed on its orig...

MidJourney AI: A revolution in the field of AI generated images

MidJourney AI: A revolution in the field of AI generated images

Rassiq Aziz Kabir 2022-08-06 16:23:00

MidJourney, a research lab, has created an artificial intelligence program that has caught the world by storm.  It generates images from simple textual descriptions, which many artificial intell...

Moderately hawkish RBI to keep India rupee supported, analysts say

Moderately hawkish RBI to keep India rupee supported, analysts say

-- 2022-08-06 12:06:13

The Indian rupee is unlikely to fall significantly from current levels against the US dollar after the Reserve Bank of India on Friday opted for a 50 basis points rate hike, analysts said, Reuters rep...

Sri Lanka considering restructure of local and sovereign debt

Sri Lanka considering restructure of local and sovereign debt

-- 2022-08-06 11:12:28

Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history....

Bangladesh for securing SAFTA benefits in CEPA pact with India

Bangladesh for securing SAFTA benefits in CEPA pact with India

SYFUL ISLAM and REZAUL KARIM 2022-08-06 08:59:40

Bangladesh will push for securing the benefits it enjoys under the SAFTA deal when negotiations on Comprehensive Economic Partnership Agreement (CEPA) start with India soon, officials say. As a least...

Uncertainty, BDT depreciation fuel faster capital outflow

Uncertainty, BDT depreciation fuel faster capital outflow

JASIM UDDIN HAROON 2022-08-06 08:26:00

Bangladesh's capital market experiences tantrums amid unprecedented capital outflows since April, which many describe as a result of recurrent depreciation of the local currency against the dollar. B...

Thai central bank to test retail digital currency this year

Thai central bank to test retail digital currency this year

-- 2022-08-05 19:06:49

Thailand's central bank said on Friday it expected to test its retail digital currency from late this year to the middle of 2023, as an alternative payment option. During the testing, the retail cent...

Bangladesh offers Nepal use of seaports for mutual benefits

Bangladesh offers Nepal use of seaports for mutual benefits

-- 2022-08-05 17:45:09

Bangladesh has again proposed Nepal to use Mongla and Chattogram seaports alongside Syedpur airport for mutual benefits.  Prime Minister Sheikh Hasina made the offer while a visiting parliamenta...

Japan takes step into green GDP research

Japan takes step into green GDP research

-- 2022-08-05 17:39:05

Japan on Friday took a first step into its research for a green gross domestic product (GDP) measurement that reflects the country's progress in reducing greenhouse gas emissions in its economic growt...

UN food price index falls again in July

UN food price index falls again in July

-- 2022-08-05 15:09:09

The United Nations food agency's world price index declined again in July, edging further away from all-time highs hit in March. The Food and Agriculture Organization's (FAO) index, which tracks the...

India central bank raises key rate for third time to tame inflation

India central bank raises key rate for third time to tame inflation

-- 2022-08-05 12:43:49

The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in as many months to cool stubbornly high inflation. With June retail inflation at 7...

Bangladesh’s economic indices rebound in July

Bangladesh’s economic indices rebound in July

FE ONLINE DESK 2022-08-05 11:01:18

The pressure on Bangladesh’s economy, generated by rising imports against less-than-sufficient exports and falling remittances amid escalating inflation, has eased slightly as the indices have r...

Twitter rejects Musk's claims that he was hoodwinked

Twitter rejects Musk's claims that he was hoodwinked

-- 2022-08-05 10:48:21

Twitter on Thursday dismissed Elon Musk's claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary t...

Global energy crisis drives rethink of nuclear power projects

Global energy crisis drives rethink of nuclear power projects

REUTERS 2022-08-05 10:33:28

The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970...

BB Governor asks banks to operate in compliance, good governance

BB Governor asks banks to operate in compliance, good governance

-- 2022-08-04 20:14:13

Bangladesh Bank Governor Abdur Rouf Talukder said that banks must comply with rules in debt management and other activities assuring that the central bank will ensure good governance in the banking se...

Ukraine needs to export 50m tons of grain this year 

Ukraine needs to export 50m tons of grain this year 

-- 2022-08-04 19:12:19

Ukraine needs to export some 50 million tons of grain in the 2022-2023 marketing year amid the need to store last year's crops and grain from the new harvest, an industry body said on Wednesday. ...

Non-exploration of domestic gas blamed for energy crunch

Non-exploration of domestic gas blamed for energy crunch

-- 2022-08-04 18:31:34

Speakers at a seminar, organised by FBCCI, blamed the lack of initiative in local gas exploration for the current energy crisis.  “Despite huge potentials, why have we failed to explore ou...

Hiring from Bangladesh falls 32pc in July

Hiring from Bangladesh falls 32pc in July

FE REPORT 2022-08-04 09:40:39

Bangladesh’s overseas employment dropped by more than 32 per cent in July 2022 over that of the previous month, as the recruitment demand from the vital job markets slowed to some extent, insi...

Central bank amends loan rescheduling policy

Central bank amends loan rescheduling policy

FE REPORT 2022-08-04 08:59:01

The central bank has amended loan-rescheduling and restructuring policy, asking banks to classify the rescheduled loans if the borrowers failed to repay their instalments within six months, officials...

AD banks can retain value-added amount for fifteen days

AD banks can retain value-added amount for fifteen days

SIDDIQUE ISLAM 2022-08-04 08:49:42

All authorized dealer (AD) banks can now retain value-added portion of export proceeds in foreign currency for 15 days, as the central bank bends rules to boost Bangladesh's forex reserves. The Bangl...

Fund flight occurs thru export-import mismatch

Fund flight occurs thru export-import mismatch

FE REPORT 2022-08-04 08:32:19

Finance Minister AHM Mustafa Kamal dismisses any link of the price hike of fertiliser and planned raise in prices of energy and power with conditions binding a proposed IMF loan, as he vows early ec...

Request for funds will safeguard Bangladesh from further deterioration: IMF

Request for funds will safeguard Bangladesh from further deterioration: IMF

-- 2022-08-03 20:25:21

The International Monetary Fund has reassured Bangladesh of support, saying funds requested by the country will “safeguard it from further deterioration of external conditions”. Even as B...

Bangladesh Bank eases rules on encashment of export proceeds 

Bangladesh Bank eases rules on encashment of export proceeds 

-- 2022-08-03 19:46:30

The Bangladesh Bank (BB) has eased rules on the encashment of the value-added portion of repatriated export proceeds in order to bring flexibility to trade transactions.   "To bring flexibi...

Kamal hopes BD economy will be back to previous track soon

Kamal hopes BD economy will be back to previous track soon

-- 2022-08-03 18:52:47

Finance Minister AHM Mustafa Kamal has said Bangladesh's economy will return to old track very soon overcoming the challenges of the Covid-19 pandemic and the Ukraine-Russia war.  "Now our first...

IMF loan would help economy gain stability in reserves, dollar market, experts say 

IMF loan would help economy gain stability in reserves, dollar market, experts say 

-- 2022-08-03 17:47:12

Bangladesh is expecting around USD $4.5 billion loan from the International Monetary Fund (IMF) as a precautionary measure and stabilising foreign exchange reserves.  In the wake of a record $30...

Sri Lanka to restart bailout talks with IMF in August

Sri Lanka to restart bailout talks with IMF in August

-- 2022-08-03 15:40:11

Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president said on Wednesday, while calling on lawmakers to form an all-party government to resolve a...

Inflation eases to 7.19pc in July

Inflation eases to 7.19pc in July

FE ONLINE DESK 2022-08-03 14:46:39

Bangladesh's overall inflation marginally decreased to 7.48 per cent in July from June's 7.56, according to data released by the Bangladesh Bureau of Statistics (BBS). The food inflation decreased to...

Bangladesh Bank suspends five money changers

Bangladesh Bank suspends five money changers

-- 2022-08-02 18:49:32

Bangladesh Bank (BB) has suspended the operations of five money changers for keeping dollars beyond the limit and other irregularities.  The central bank also sent show-cause notices to 42 money...